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Friday, 18 December 09
COKING COAL SHORTAGE IN CHINA TO SPUR DEMAND FIGHT WITH JAPAN
 China, the world’s largest steelmaker, faces a shortage of coking coal that may drive imports next year and spur a fight for resources with Japanese and South Korean mills, two Chinese industry groups said.
“Domestic demand for coking coal will rise moderately next year, while global demand may gain faster, intensifying competition,” Wu Chenghou, senior adviser of the China Coal Transportation and Distribution Association, said in an interview.
China’s coking coal imports rose 12-fold this year, boosting sales of BHP Billiton Ltd. as the government closed smaller, unsafe mines. Prices may jump by between 23 percent and 38 percent in 2010, as global demand rebounds from the deepest recession since the 1930s, according to Macquarie Securities Group, JPMorgan Chase & Co. and Morgan Stanley.
“China doesn’t have enough domestic supply to meet increasing demand from its steelmakers,” said Zhang Bochun, secretary general of the Hebei Coking & Chemical Industry Association. Mills would “compete with foreign rivals,” he said in an interview.
Chinese imports in 2010 may be similar to this year, Zhang said. Hebei province buys the most coking coal in China, according to industry researcher Mysteel.com. The nation’s $586 billion stimulus spending is spurring automakers and property developers to buy more steel, leading Baoshan Iron & Steel Co. and Chinese mills to expand coal consumption to feed furnaces.
Intense Competition
Import demand by China, the world’s biggest coking coal buyer after Japan, may rise 5.6 percent to 38 million metric tons next year from an expected 36 million tons this year, Macquarie analysts led by Jim Lennon said in a Dec. 15 report. Domestic coal prices in the nation may increase 14 percent next year, Citigroup Inc. said in a Dec. 4 report.
Japan’s purchases may jump 14 percent to 58 million tons, and South Korea’s demand may rise 17 percent to 21 million tons next year, Macquarie said.
“BHP and other suppliers may add exports to Japan and South Korea because demand is picking up there,” said Zhang Weifang, a Shanghai-based analyst of Mysteel.com. “The Chinese would probably have to pay higher spot prices, compared to their foreign rivals who would pay lower contract prices.”
China would be demanding more high quality hard-coking coal in the future as it expands mills, BHP Billiton said in a September slide presentation. The nation this year “emerged” to fill a demand gap for coking coal, the world’s largest mining company said.
World’s Worst Mines
The Chinese government started closing small coal mines in 2008 to improve their safety records after 3,770 workers were killed in 2007, making the mines the world’s deadliest. China produced 705.1 million tons of coking coal last year, according to Beijing Antaike Information Development Co.
Congestion on railways is also boosting imports by steelmakers which have furnaces near ports, said Mysteel’s Zhang.
These mills may get 20,000 tons to 30,000 tons of coal monthly by railway, she said. A ship can carry 70,000 tons, and take just half a month from Australia to China, she said.
Benchmark contract prices may surge to $180 a ton from $129 a ton, Macquarie forecast. JPMorgan and Morgan Stanley expect prices to jump to $160 a ton.
Steel demand growth in China will outpace supply in 2010, Deutsche Bank AG said Dec. 11. Steel output may exceed 600 million tons next year, after reaching a record 570 million tons this year, the China Securities Journal reported Dec. 17, citing Ma Guoqiang, general manager of Baoshan Steel Co., the nation’s largest steelmaker.
Source: Bloomberg
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Friday, 04 December 09
CHINA'S COAL IMPORTS PREDICTED TO DECLINE IN 2010
China's eye-catching coal import figure s are unlikely to extend into 2010 given the predicted narrow-down of the coal price spread between the hom ...
Friday, 04 December 09
SUBHASH PROJECTS BEGINS MINING AT INDONESIAN COAL BLOCK
Kolkata-based infrastructure company Subhash Projects and Marketing (SPML) has begun mining at its coal block in Indonesia and will begin despatchin ...
Friday, 04 December 09
DRY BULK MARKET IS ON THE RISE AGAIN
Proving rather resilient, compared to previous behaviors, the dry bulk market has been on a rebound mode once again, after a two-week fall, which su ...
Friday, 04 December 09
INDONESIA'S BUMI EYES MARKETING DEAL FOR BERAU COAL
Reuters reported that, Indonesian coal miner PT Bumi Resources Tbk said on Thursday it is in talks to be the exclusive marketing agent for coal prod ...
Friday, 04 December 09
KALIMANTAN GOLD AGREES TO SELL IBP COAL CONCESSION
COALspot.com ( Press Release): Kalimantan Gold Corporation Limited ("KLG" or the "Company"), which undertook drilling and had an ...
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- Kaltim Prima Coal - Indonesia
- GMR Energy Limited - India
- Tata Chemicals Ltd - India
- CNBM International Corporation - China
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- Rashtriya Ispat Nigam Limited - India
- Tamil Nadu electricity Board
- Vizag Seaport Private Limited - India
- Economic Council, Georgia
- Energy Development Corp, Philippines
- SMC Global Power, Philippines
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- Altura Mining Limited, Indonesia
- Krishnapatnam Port Company Ltd. - India
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- Siam City Cement - Thailand
- Banpu Public Company Limited - Thailand
- Baramulti Group, Indonesia
- Malabar Cements Ltd - India
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- Coalindo Energy - Indonesia
- McConnell Dowell - Australia
- Jindal Steel & Power Ltd - India
- Semirara Mining Corp, Philippines
- CIMB Investment Bank - Malaysia
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- Semirara Mining and Power Corporation, Philippines
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- Agrawal Coal Company - India
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- Power Finance Corporation Ltd., India
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- Directorate General of MIneral and Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Posco Energy - South Korea
- Eastern Coal Council - USA
- Metalloyd Limited - United Kingdom
- Chamber of Mines of South Africa
- Asmin Koalindo Tuhup - Indonesia
- Indo Tambangraya Megah - Indonesia
- International Coal Ventures Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- IHS Mccloskey Coal Group - USA
- Bhushan Steel Limited - India
- Xindia Steels Limited - India
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- Ambuja Cements Ltd - India
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- Petrochimia International Co. Ltd.- Taiwan
- Larsen & Toubro Limited - India
- Independent Power Producers Association of India
- Samtan Co., Ltd - South Korea
- San Jose City I Power Corp, Philippines
- Australian Commodity Traders Exchange
- Georgia Ports Authority, United States
- Merrill Lynch Commodities Europe
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- LBH Netherlands Bv - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhoruka Overseas - Indonesia
- Wood Mackenzie - Singapore
- Straits Asia Resources Limited - Singapore
- Indika Energy - Indonesia
- Parliament of New Zealand
- Binh Thuan Hamico - Vietnam
- Standard Chartered Bank - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Authority, New Zealand
- Ministry of Finance - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Riau Bara Harum - Indonesia
- Essar Steel Hazira Ltd - India
- Directorate Of Revenue Intelligence - India
- Globalindo Alam Lestari - Indonesia
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- Mintek Dendrill Indonesia
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- TNB Fuel Sdn Bhd - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- IEA Clean Coal Centre - UK
- PNOC Exploration Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- VISA Power Limited - India
- Maheswari Brothers Coal Limited - India
- Australian Coal Association
- Antam Resourcindo - Indonesia
- Bhatia International Limited - India
- The University of Queensland
- Star Paper Mills Limited - India
- Oldendorff Carriers - Singapore
- SMG Consultants - Indonesia
- Therma Luzon, Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Gujarat Mineral Development Corp Ltd - India
- Global Business Power Corporation, Philippines
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- White Energy Company Limited
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- Coal and Oil Company - UAE
- Bulk Trading Sa - Switzerland
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- Commonwealth Bank - Australia
- New Zealand Coal & Carbon
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Medco Energi Mining Internasional
- Goldman Sachs - Singapore
- Orica Australia Pty. Ltd.
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- Kartika Selabumi Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Electricity Generating Authority of Thailand
- Trasteel International SA, Italy
- Mercuria Energy - Indonesia
- Lanco Infratech Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Indonesian Coal Mining Association
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- Mercator Lines Limited - India
- Pendopo Energi Batubara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Minerals Council of Australia
- Ceylon Electricity Board - Sri Lanka
- Intertek Mineral Services - Indonesia
- Thiess Contractors Indonesia
- Singapore Mercantile Exchange
- Neyveli Lignite Corporation Ltd, - India
- Alfred C Toepfer International GmbH - Germany
- Ministry of Mines - Canada
- Wilmar Investment Holdings
- Sical Logistics Limited - India
- Sojitz Corporation - Japan
- Eastern Energy - Thailand
- MS Steel International - UAE
- Africa Commodities Group - South Africa
- European Bulk Services B.V. - Netherlands
- Borneo Indobara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Leighton Contractors Pty Ltd - Australia
- Orica Mining Services - Indonesia
- GVK Power & Infra Limited - India
- ASAPP Information Group - India
- Kumho Petrochemical, South Korea
- Siam City Cement PLC, Thailand
- Ministry of Transport, Egypt
- Energy Link Ltd, New Zealand
- Indian Energy Exchange, India
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- Planning Commission, India
- GAC Shipping (India) Pvt Ltd
- Bayan Resources Tbk. - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Kapuas Tunggal Persada - Indonesia
- Bukit Baiduri Energy - Indonesia
- Makarim & Taira - Indonesia
- The State Trading Corporation of India Ltd
- Heidelberg Cement - Germany
- Iligan Light & Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Billiton Holdings Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Renaissance Capital - South Africa
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- Bangladesh Power Developement Board
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- Bank of Tokyo Mitsubishi UFJ Ltd
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- Indian Oil Corporation Limited
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