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Thursday, 28 January 10
JAPAN STEELMAKERS OPPOSE QUARTERLY COAL CONTRACTS
.jpg) Japanese steelmakers oppose miner BHP Billiton's attempt to switch to quarterly contracts from annual deals for supplying coal, as the change would not suit their clients in manufacturing, they said on Wednesday.
Stocks
The Japan Metal Daily on Tuesday reported that BHP Billiton, one of the world's biggest coal producers, was seeking a quarterly contract on coal in talks with Japanese steelmakers.
Their current annual contract expires on March 31.
Analysts say a quarterly contract will make it hard for Japanese steelmakers to fully pass on costs to user companies like carmakers and shipbuilders, who set sales prices annually.
| “The 40-year-old benchmark system is under threat after China rejected the miners' 2009/10 price settlement with Japan, opting to buy on the spot market” |
"We've heard there is a miner who favours a shorter contract period and that some Chinese steelmakers have not rejected the idea," Shoji Muneoka, chairman of the Japan Iron and Steel Federation, told a news conference.
"Chinese steelmakers produce a lot of construction steel, in which quarterly price changes are easier, but Japanese steelmakers supply 60-70 percent of their product to manufacturers, who wouldn't like quarterly cost fluctuations.
"We hope the miner honours the market situation, which is different from country to country."
BHP has been vocal in abandoning a benchmark system, in which the first price deal between a miner and a steelmaker sets a yardstick to be followed by the rest of the industry for a year.
The 40-year-old benchmark system is under threat after China rejected the miners' 2009/10 price settlement with Japan, opting to buy on the spot market.
Muneoka, also the president of the world's No.2 steelmaker, Nippon Steel Corp (5401.T), said the annual benchmark system has been supported by big steelmakers, including those in Japan, South Korea, Taiwan and Europe.
Source: Reuters
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Tuesday, 16 February 10
LAW POSES THREAT TO INDONESIA'S COAL INDUSTRY
A zoning law could cost coal miners billions of dollars this year alone, hurt investment in the industry and disrupt the supply of the fuel to the c ...
Tuesday, 16 February 10
KPMG PENS 6-POINT STRATEGY FOR COAL INDIA RESTRUCTURING
Coal India Ltd (CIL) has appointed KPMG Advisory Services Pvt Ltd to advise on consolidating its position as the country’s prime energy provid ...
Monday, 15 February 10
MINING LAW TO BE REVISED
Law No. 4 of 2009 on mineral and coal mining will be revised after a working visit of the Bangka Belitung (Babel) Provincial legislative assembly (D ...
Monday, 15 February 10
EURO COAL PRICES SOFTEN AS CHINESE LUNAR NEW YEAR HOLIDAYS START
Prices of prompt cargoes of coal for delivery into Europe weakened last week on a lack of European demand and market nerves over the possible impact ...
Monday, 15 February 10
INDONESIAN COAL SUFFERS SETBACK AS SUMATRA RAIL LINE HELD UP AGAIN
State-owned coal miner PT Tambang Batubara Bukit Asam’s $1.06 billion rail project in Sumatra faces more delays, and the cost of the project i ...
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- Semirara Mining Corp, Philippines
- IHS Mccloskey Coal Group - USA
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- Standard Chartered Bank - UAE
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- Bukit Baiduri Energy - Indonesia
- Lanco Infratech Ltd - India
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- Posco Energy - South Korea
- Holcim Trading Pte Ltd - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- European Bulk Services B.V. - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Global Coal Blending Company Limited - Australia
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- India Bulls Power Limited - India
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- Samtan Co., Ltd - South Korea
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- Bahari Cakrawala Sebuku - Indonesia
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- Economic Council, Georgia
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- Mercuria Energy - Indonesia
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- Romanian Commodities Exchange
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- Chamber of Mines of South Africa
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- Energy Link Ltd, New Zealand
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- Ministry of Transport, Egypt
- Karbindo Abesyapradhi - Indoneisa
- Commonwealth Bank - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Toyota Tsusho Corporation, Japan
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- Vedanta Resources Plc - India
- Port Waratah Coal Services - Australia
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- AsiaOL BioFuels Corp., Philippines
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- Agrawal Coal Company - India
- IEA Clean Coal Centre - UK
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- SMG Consultants - Indonesia
- Cement Manufacturers Association - India
- Neyveli Lignite Corporation Ltd, - India
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- Vizag Seaport Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Planning Commission, India
- Indogreen Group - Indonesia
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- Price Waterhouse Coopers - Russia
- Simpson Spence & Young - Indonesia
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- Altura Mining Limited, Indonesia
- Indonesian Coal Mining Association
- VISA Power Limited - India
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- ASAPP Information Group - India
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- Ministry of Finance - Indonesia
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- Tamil Nadu electricity Board
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- Thiess Contractors Indonesia
- Coal and Oil Company - UAE
- New Zealand Coal & Carbon
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- Pendopo Energi Batubara - Indonesia
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- McConnell Dowell - Australia
- Globalindo Alam Lestari - Indonesia
- Xindia Steels Limited - India
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- Parliament of New Zealand
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