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Tuesday, 19 January 10
RISING DEMAND FROM POWER FIRMS TO PUSH COAL PRICES
 The resurgence of the Chinese economy, along with harsh winter conditions across the country, is likely to push coal prices up in the short term. In addition, the growing demand from power producers in India could support the upward movement of the fossil fuel.
State-owned Coal India’s continued inability to meet the demand has prompted a number of power firms to establish overseas coal linkages. India’s largest power producer, NTPC, may also import coal in order to maintain the desired plant load factor across its facilities.
“Due to the recovery in the Chinese economy, especially in the manufacturing sector, the demand for coal has risen while the cost of mining has also increased. Even though freight costs have fallen, a rise of 7-10 per cent can be expected in spot prices over the next few months,” an analyst with Angel Broking said.
The rising cost of Indonesian coal, a favourite with Indian companies due to its geographical proximity, may also be a sustained phenomenon, with domestic demand already on the rise in the country. In the next couple of years, prices of coal from the country could hit $100 a tonne, a Citigroup study suggested.
Aggressive purchasing by utilities has resulted in spot prices in China’s primary coal port at Quihuangdao to reach the $120-a-tonne mark. Such buying, said the report, had been driven by strong demand and dislocation of local supply due to severe cold and low stockpiles. Consistent purchase from Europe and Korea, which are facing similar climatic conditions, also contributed to pushing the prices upwards.
Australia’s Newcastle port saw prices rise by up to $100 a tonne, the highest since November 2008. Spot prices have surged by 24 per cent at the port over the past five weeks.
With majority of Indian power producers settling for long-term prices, the impact of rocketing prices could have a restricted impact on the country, an analyst said.
“Our estimates are that the prices will remain around $65 a tonne for longer contracts.”
But calendar year contracts have had a good start with international mining firm Xstrata and Japan’s Tokyo Electric settling for prices up to $85 a tonne, which could well become the benchmark price for other calender year contracts.
Source: Business-Standard
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Tuesday, 19 January 10
CESC TO BUY 100,000 MT OF INDONESIAN SUB BITUMINOUS COAL
COALspot.com (India): CESC, India’s one of the largest and oldest private power producer is expected to issue a closed tender any time this we ...
Tuesday, 19 January 10
COAL FOR DOMESTIC USERS
While the government is already almost a year behind schedule in issuing regulations to implement the new mining law, mineral producers have been&nb ...
Tuesday, 19 January 10
ESSAR'S MEGA ACQUISITION PLANS
India’s Essar Group has carved a mega plan that includes a slew of acquisitions and investments in assets across various businesses. CNBC-TV18 ...
Monday, 18 January 10
INDONESIA SHIPPED 15.90 PERCENT OF TOTAL COAL EXPORTS IN 2009 TO INDIA
COALspot.com (Indonesia): Indonesia, the world largest coal exporter, exported 19.07 percent of the total coal export in 2009 to China and 15. ...
Monday, 18 January 10
BHP TO SPEND $267 MILLION ON QUEENSLAND COKING COAL
BHP Billiton Ltd, the world’s largest mining company, will spend $267 million to accelerate development of the Caval Ridge mine and the Hay Po ...
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- Australian Coal Association
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