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Thursday, 28 January 10
JAPAN STEELMAKERS OPPOSE QUARTERLY COAL CONTRACTS
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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Friday, 22 January 10
ENERGY ADVISORY COUNCIL MULLS - COAL EXPORT BAN
The National Energy Council, which advises the House of Representatives and the president on energy issues, has begun to debate a proposal to ban ex ...
Friday, 22 January 10
MERCATOR EYES MORE COAL MINES IN INDONESIA
India’s second-largest private shipping company Mercator Lines is looking at acquiring more coal mines in Indonesia as part of its strategy&nb ...
Friday, 22 January 10
BHAKTI ENERGI IN TALKS OVER COAL VENTURES IN KALIMANTAN
PT Bhakti Energi Persada, one of Indonesia’s biggest miners of brown coal, revealed on Thursday that it was in talks to form a joint venture w ...
Friday, 22 January 10
SHENHUA ENERGY 09 YIELDED 210MN TONS COMMODITY COAL
China Shenhua Energy Co., Ltd. yielded 210 million tons of commodity coal in 2009, hiking 13.2% year on year, the Chinese energy titan announced tod ...
Friday, 22 January 10
JSW ENERGY TO INVEST RS 4,500 CRORE IN COAL MINES ABROAD
The Sajjan Jindal-promoted JSW Energy is planning an investment of Rs 4,500 crore (US$ 978,260,869) to acquire coal mines abroad and another of Rs 1 ...
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- Energy Link Ltd, New Zealand
- MS Steel International - UAE
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- White Energy Company Limited
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- Planning Commission, India
- Grasim Industreis Ltd - India
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- Australian Coal Association
- OPG Power Generation Pvt Ltd - India
- PTC India Limited - India
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- Standard Chartered Bank - UAE
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- Kepco SPC Power Corporation, Philippines
- Ministry of Transport, Egypt
- IEA Clean Coal Centre - UK
- Star Paper Mills Limited - India
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- Orica Mining Services - Indonesia
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- McConnell Dowell - Australia
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- Banpu Public Company Limited - Thailand
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- Coal and Oil Company - UAE
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- Eastern Energy - Thailand
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
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- Indian Oil Corporation Limited
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- India Bulls Power Limited - India
- Mjunction Services Limited - India
- Chamber of Mines of South Africa
- Thiess Contractors Indonesia
- Parliament of New Zealand
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- Offshore Bulk Terminal Pte Ltd, Singapore
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- Pipit Mutiara Jaya. PT, Indonesia
- Uttam Galva Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
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- Metalloyd Limited - United Kingdom
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- Wood Mackenzie - Singapore
- IHS Mccloskey Coal Group - USA
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- Eastern Coal Council - USA
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- Bulk Trading Sa - Switzerland
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- International Coal Ventures Pvt Ltd - India
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- Wilmar Investment Holdings
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- Sical Logistics Limited - India
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