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Saturday, 26 December 09
COKING COAL PRICES MAY RISE BY 10 - 15% FROM APRIL 2010
 The price of coking coal, one of the key raw materials for steel production, is likely to increase by 10-15% in next April, the month in which majority of steel makers sign long-term agreement with suppliers, said senior executives of two large steel companies.
This, in turn, would increase the production cost and may adversely affect the bottom-line of steel producers unless they pass on the incremental cost to the consumers, said a senior executive of a leading steel maker.
There are couple of reasons for the price rise, said JSW Steel joint managing director Seshagiri Rao. “Due to economic crisis of 2008, many mines in Australia, which are dominant in coking coal, have shut down. This has resulted in sharp decline in supply of coking coal in comparison to early 2007,” he said. Domestic steel producers largely import coking coal from Australia.
In addition to the supply constraint, demand for coking coal from China, which was so far going slow on steel production, has again picked up, Rao said.
Due to the global economic slowdown, coking coal prices (long term and spot) had come down to less than half in April 2009 in comparison to the previous year. In April 2009, domestic steel makers had entered into long term agreement with overseas suppliers for coking coal at around $130 per tonne as against $300 per tonne in the previous year.
The spot price for the coking coal have come down to $180/tonne from a high of $400/tonne in April 2008. Spot prices of coking coal have, however, again started moving up.
As a result, steel producers such as Steel Authority of India (Sail), Tata Steel and JSW may land up signing long term agreements for coking coal at around $145-150 per tonne in April when these long term agreements will come for renewal.
“Indications show that there could be a marginal hike in long-term contracts’ prices for coking coal next year. The prices hike will also bridge the vast gap between long term and spot market prices,” said a senior SAIL executive. India’s largest steel maker Sail consumes 10 million tonne of coking coal every year and is largely dependant on Australia and the US for imports.
JSW Steel consumed 4.5 million tonne of coking coal this year and the requirement will further go up to 5 million tonne next year.
Source: Economic Times
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Sunday, 03 January 10
BHP TO STAY IN MARUWAI AND TO KEEP 75 PERCENT OF THE STAKE
Despite recent statements that it would pull out completely from Indonesia, the world's largest mining company BHP Billiton has now admitted that i ...
Saturday, 02 January 10
INDONESIAS COAL OUTPUT RISES BY 5%
Indonesia, Asia’s largest coal exporter, produced 254 million tons of coal in 2009, a 5.8 percent increase from 2008 and well ahead of the gov ...
Saturday, 02 January 10
TAIPOWER FORECASTS COAL DEMAND TO SNAP DECLINE
Taiwan Power Co., Asia's biggest importer of thermal coal, expects its demand for the fuel to rise in 2010 after falling for two years as the islan ...
Friday, 01 January 10
COAL INDIA TO START IMPORTING DIRECTLY
According to sources, the coal major has already finalised tender document to import four million tonnes thermal grade coal for supplies to NTPC. Th ...
Thursday, 31 December 09
INDONESIA SEES 2010 MINING INVESTMENT UP 39 PCT
Reuters reported that, Indonesian mining investment is expected to hit $2.5 billion next year, up from $1.81 billion in 2009, supported by greater c ...
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- Attock Cement Pakistan Limited
- Barasentosa Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- Sojitz Corporation - Japan
- Jindal Steel & Power Ltd - India
- Kideco Jaya Agung - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Binh Thuan Hamico - Vietnam
- Ministry of Transport, Egypt
- Mintek Dendrill Indonesia
- GMR Energy Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- OPG Power Generation Pvt Ltd - India
- Interocean Group of Companies - India
- VISA Power Limited - India
- Wood Mackenzie - Singapore
- Antam Resourcindo - Indonesia
- Riau Bara Harum - Indonesia
- Latin American Coal - Colombia
- Wilmar Investment Holdings
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- Tamil Nadu electricity Board
- Trasteel International SA, Italy
- Anglo American - United Kingdom
- ICICI Bank Limited - India
- Larsen & Toubro Limited - India
- Iligan Light & Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Madhucon Powers Ltd - India
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- Baramulti Group, Indonesia
- McConnell Dowell - Australia
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- Global Business Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- MS Steel International - UAE
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- Indo Tambangraya Megah - Indonesia
- Ambuja Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- Vizag Seaport Private Limited - India
- Thiess Contractors Indonesia
- Price Waterhouse Coopers - Russia
- Straits Asia Resources Limited - Singapore
- Ceylon Electricity Board - Sri Lanka
- Heidelberg Cement - Germany
- Posco Energy - South Korea
- Bharathi Cement Corporation - India
- Bhatia International Limited - India
- Central Java Power - Indonesia
- Eastern Coal Council - USA
- India Bulls Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Bulk Trading Sa - Switzerland
- AsiaOL BioFuels Corp., Philippines
- PNOC Exploration Corporation - Philippines
- Africa Commodities Group - South Africa
- Central Electricity Authority - India
- IEA Clean Coal Centre - UK
- Gujarat Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Merrill Lynch Commodities Europe
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- Globalindo Alam Lestari - Indonesia
- White Energy Company Limited
- Indian Energy Exchange, India
- Ind-Barath Power Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
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- South Luzon Thermal Energy Corporation
- Georgia Ports Authority, United States
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- Bayan Resources Tbk. - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Indika Energy - Indonesia
- Bangladesh Power Developement Board
- Maheswari Brothers Coal Limited - India
- Essar Steel Hazira Ltd - India
- Grasim Industreis Ltd - India
- Gujarat Sidhee Cement - India
- Alfred C Toepfer International GmbH - Germany
- Meenaskhi Energy Private Limited - India
- Commonwealth Bank - Australia
- London Commodity Brokers - England
- Meralco Power Generation, Philippines
- New Zealand Coal & Carbon
- Bukit Asam (Persero) Tbk - Indonesia
- Chamber of Mines of South Africa
- Leighton Contractors Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Edison Trading Spa - Italy
- Coal and Oil Company - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Asmin Koalindo Tuhup - Indonesia
- Directorate Of Revenue Intelligence - India
- Thai Mozambique Logistica
- Billiton Holdings Pty Ltd - Australia
- Medco Energi Mining Internasional
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement PLC, Thailand
- Sindya Power Generating Company Private Ltd
- Borneo Indobara - Indonesia
- Global Coal Blending Company Limited - Australia
- Carbofer General Trading SA - India
- Vedanta Resources Plc - India
- Coastal Gujarat Power Limited - India
- Deloitte Consulting - India
- Sical Logistics Limited - India
- PTC India Limited - India
- Cement Manufacturers Association - India
- Bhoruka Overseas - Indonesia
- Altura Mining Limited, Indonesia
- The State Trading Corporation of India Ltd
- Kaltim Prima Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- Economic Council, Georgia
- Timah Investasi Mineral - Indoneisa
- Independent Power Producers Association of India
- Formosa Plastics Group - Taiwan
- Samtan Co., Ltd - South Korea
- The University of Queensland
- SMC Global Power, Philippines
- Miang Besar Coal Terminal - Indonesia
- Uttam Galva Steels Limited - India
- CNBM International Corporation - China
- GAC Shipping (India) Pvt Ltd
- Sree Jayajothi Cements Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ASAPP Information Group - India
- Sakthi Sugars Limited - India
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- Kepco SPC Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Coalindo Energy - Indonesia
- Makarim & Taira - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Kumho Petrochemical, South Korea
- Simpson Spence & Young - Indonesia
- International Coal Ventures Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Gujarat Mineral Development Corp Ltd - India
- Chettinad Cement Corporation Ltd - India
- Karaikal Port Pvt Ltd - India
- Indian Oil Corporation Limited
- Pipit Mutiara Jaya. PT, Indonesia
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- Jorong Barutama Greston.PT - Indonesia
- Goldman Sachs - Singapore
- Videocon Industries ltd - India
- Star Paper Mills Limited - India
- Electricity Authority, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- CIMB Investment Bank - Malaysia
- Renaissance Capital - South Africa
- Mercator Lines Limited - India
- Kobexindo Tractors - Indoneisa
- Parliament of New Zealand
- Energy Link Ltd, New Zealand
- Intertek Mineral Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Standard Chartered Bank - UAE
- Tata Chemicals Ltd - India
- Australian Commodity Traders Exchange
- Indogreen Group - Indonesia
- Dalmia Cement Bharat India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Planning Commission, India
- Jaiprakash Power Ventures ltd
- Bukit Makmur.PT - Indonesia
- SMG Consultants - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Global Green Power PLC Corporation, Philippines
- Agrawal Coal Company - India
- Maharashtra Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- Krishnapatnam Port Company Ltd. - India
- Eastern Energy - Thailand
- Savvy Resources Ltd - HongKong
- PowerSource Philippines DevCo
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining Corp, Philippines
- Electricity Generating Authority of Thailand
- Aditya Birla Group - India
- Australian Coal Association
- Indonesian Coal Mining Association
- Semirara Mining and Power Corporation, Philippines
- Mjunction Services Limited - India
- Xindia Steels Limited - India
- Ministry of Mines - Canada
- Manunggal Multi Energi - Indonesia
- Singapore Mercantile Exchange
- Pendopo Energi Batubara - Indonesia
- Parry Sugars Refinery, India
- Banpu Public Company Limited - Thailand
- San Jose City I Power Corp, Philippines
- Metalloyd Limited - United Kingdom
- Therma Luzon, Inc, Philippines
- Salva Resources Pvt Ltd - India
- Romanian Commodities Exchange
- Energy Development Corp, Philippines
- Siam City Cement - Thailand
- Orica Australia Pty. Ltd.
- Petron Corporation, Philippines
- The Treasury - Australian Government
- Marubeni Corporation - India
- Minerals Council of Australia
- Ministry of Finance - Indonesia
- Kohat Cement Company Ltd. - Pakistan
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