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Tuesday, 09 February 10
INDIANS SAY SEEKING COAL BARGAINS VIA INDEX PRICES
 * Indonesian cheaper than S.African - traders
* End-users wait for price falls before tendering
Indian coal traders responsible for the bulk of the country's spot imports are trying to cope with the recent rise in prices by index-pricing and substituting Indonesian for some South African coal, traders said on Tuesday.
India took more than 30 percent of South Africa's 60 million tonnes of coal exports in 2009 and any change in Indian buying patterns can have a significant impact on spot prices.
South African coal spot prices rose in early January to around $85.00 a tonne FOB Richards Bay from $60.00 in November on a surge of Chinese buying.
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“South African coal spot prices rose in early January to around $85.00 a ton FOB Richards Bay from $60.00 in November on a surge of Chinese buying”
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This prompted Indian buyers to withdraw from the market but they have since returned to buy heavily and ask for cargo shipments to be advanced, producers and traders said.
"The Indian market was extremely quiet for a few months but the need for South African coal was still there, they just didn't like the prices," one supplier said.
"But they are all asking sellers for index prices and prepared to pay a premium above the API4 index rather than us asking them to index-link, which is unusual," he added.
Indian traders typically prefer fixed prices rather than prices which float with the weekly API4 index but when they do buy against the index, they mostly do not hedge to control their price risk.
"Prices are starting to soften slightly so right now indexing makes sense," one major Indian trader said.
GAMBLE
"But it's not the Indian end-users who are taking the risk, it is us, the traders, as usual with all the risk," he added.
If prices do not fall by at least a few dollars, Indian traders could make heavy losses by buying on floating prices and selling at fixed prices to consumers, suppliers said.
"They're taking a big punt again, it's a gamble. What it is they don't want to be paying $80.00-$85.00 a tonne FOB now but they'll pay a premium assuming the index will have fallen by the time the coal is shipped," another supplier said.
Prices have dipped by around $4.00-$5.00 a tonne during the past week and are set to fall further until early March, after the Chinese New Year holiday, Indian traders said.
The softening in South African prices seen during the past week has also encouraged Indian importers to replace some coal with Indonesian material, Indian traders said.
"Not all consumers want Indonesian, many of them prefer the quality and consistency of South African but with the price unstable, South African is taking a bit of a back seat right now and people are buying more Indonesian," another Indian trader said.
End-users are also waiting for further South African price falls before issuing their regular spot tenders, traders said.
Source:Reuters
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Wednesday, 10 February 10
JPMORGAN FORECASTS A 5.7% GROWTH IN SEABORNE IRON ORE SHIPMENTS, 3.8% FOR COAL AND GRAIN THIS YEAR
This year volumes of iron ore transportation by sea may grow to 5.7%, coal and grain up 3.8% over numbers in 2009, Ukrrudprom reports citing analyst ...
Wednesday, 10 February 10
ANGLO AMERICAN TIPS COAL PRICE RISE AFTER RAIN, AUSTRALIAN SAYS
Anglo American Plc expects coking coal contract prices to rise after weeks of heavy rain in Queensland state cut output by as much as 10 million met ...
Wednesday, 10 February 10
KANGAROO RESOURCES COMMENCES MINING AT MAMAHAK COKING COAL PROJECT
International coal producer Kangaroo Resources has kicked off mining at its second Indonesian coal operation, the Mamahak Coking Coal Project in Eas ...
Wednesday, 10 February 10
CHINA DENIES CLIVE PALMER'S COAL DEAL
ONE of China's biggest government-owned companies yesterday repudiated mining billionaire Clive Palmer for overstating what he said was Australia' ...
Tuesday, 09 February 10
EURO COAL-PROMPT SLIDES WITH OIL PRICES
* April S.African cargo trades at $83.50/T FOB, unchanged
* April DES cargo trades at $74.75 a tonne, down $1/T
* Russia's Kuzbassrazrezugol sees ...
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- Renaissance Capital - South Africa
- Interocean Group of Companies - India
- Orica Mining Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- Posco Energy - South Korea
- Manunggal Multi Energi - Indonesia
- Rio Tinto Coal - Australia
- Economic Council, Georgia
- Agrawal Coal Company - India
- Deloitte Consulting - India
- SMG Consultants - Indonesia
- ICICI Bank Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- The Treasury - Australian Government
- Mintek Dendrill Indonesia
- Kepco SPC Power Corporation, Philippines
- London Commodity Brokers - England
- Meralco Power Generation, Philippines
- GVK Power & Infra Limited - India
- Anglo American - United Kingdom
- Bhushan Steel Limited - India
- Romanian Commodities Exchange
- Tamil Nadu electricity Board
- Baramulti Group, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Lanco Infratech Ltd - India
- Port Waratah Coal Services - Australia
- Sojitz Corporation - Japan
- Commonwealth Bank - Australia
- Alfred C Toepfer International GmbH - Germany
- Georgia Ports Authority, United States
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- Kapuas Tunggal Persada - Indonesia
- Central Java Power - Indonesia
- Mercator Lines Limited - India
- Tata Chemicals Ltd - India
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- Latin American Coal - Colombia
- Ambuja Cements Ltd - India
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- Salva Resources Pvt Ltd - India
- Minerals Council of Australia
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- Vizag Seaport Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Coalindo Energy - Indonesia
- MS Steel International - UAE
- Karbindo Abesyapradhi - Indoneisa
- Carbofer General Trading SA - India
- ASAPP Information Group - India
- LBH Netherlands Bv - Netherlands
- SN Aboitiz Power Inc, Philippines
- Energy Development Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Kideco Jaya Agung - Indonesia
- Aditya Birla Group - India
- Malabar Cements Ltd - India
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- San Jose City I Power Corp, Philippines
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- Bangladesh Power Developement Board
- PTC India Limited - India
- Parry Sugars Refinery, India
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- Pipit Mutiara Jaya. PT, Indonesia
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- Eastern Energy - Thailand
- TeaM Sual Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Price Waterhouse Coopers - Russia
- Jindal Steel & Power Ltd - India
- Samtan Co., Ltd - South Korea
- Bukit Makmur.PT - Indonesia
- Altura Mining Limited, Indonesia
- Orica Australia Pty. Ltd.
- Global Business Power Corporation, Philippines
- New Zealand Coal & Carbon
- Iligan Light & Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Indonesian Coal Mining Association
- Electricity Generating Authority of Thailand
- Indo Tambangraya Megah - Indonesia
- Global Green Power PLC Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Maheswari Brothers Coal Limited - India
- Borneo Indobara - Indonesia
- Indian Oil Corporation Limited
- SMC Global Power, Philippines
- Wilmar Investment Holdings
- Semirara Mining Corp, Philippines
- Ministry of Mines - Canada
- Sical Logistics Limited - India
- Kartika Selabumi Mining - Indonesia
- Indian Energy Exchange, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Kumho Petrochemical, South Korea
- AsiaOL BioFuels Corp., Philippines
- Bukit Baiduri Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- McConnell Dowell - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Independent Power Producers Association of India
- Madhucon Powers Ltd - India
- Heidelberg Cement - Germany
- Oldendorff Carriers - Singapore
- Bhoruka Overseas - Indonesia
- Siam City Cement PLC, Thailand
- Banpu Public Company Limited - Thailand
- Sakthi Sugars Limited - India
- Ministry of Finance - Indonesia
- The University of Queensland
- Bharathi Cement Corporation - India
- Toyota Tsusho Corporation, Japan
- Leighton Contractors Pty Ltd - Australia
- White Energy Company Limited
- Barasentosa Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Commodity Traders Exchange
- Kohat Cement Company Ltd. - Pakistan
- Parliament of New Zealand
- Planning Commission, India
- Sindya Power Generating Company Private Ltd
- Kobexindo Tractors - Indoneisa
- IEA Clean Coal Centre - UK
- GMR Energy Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Standard Chartered Bank - UAE
- Antam Resourcindo - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Kaltim Prima Coal - Indonesia
- Cement Manufacturers Association - India
- Timah Investasi Mineral - Indoneisa
- Global Coal Blending Company Limited - Australia
- Indogreen Group - Indonesia
- Merrill Lynch Commodities Europe
- Electricity Authority, New Zealand
- Eastern Coal Council - USA
- Semirara Mining and Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Simpson Spence & Young - Indonesia
- India Bulls Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Coal and Oil Company - UAE
- Edison Trading Spa - Italy
- Medco Energi Mining Internasional
- South Luzon Thermal Energy Corporation
- CIMB Investment Bank - Malaysia
- Sree Jayajothi Cements Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Videocon Industries ltd - India
- Star Paper Mills Limited - India
- Petron Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Ministry of Transport, Egypt
- Gujarat Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- Energy Link Ltd, New Zealand
- The State Trading Corporation of India Ltd
- Marubeni Corporation - India
- Straits Asia Resources Limited - Singapore
- Thiess Contractors Indonesia
- Holcim Trading Pte Ltd - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rashtriya Ispat Nigam Limited - India
- PNOC Exploration Corporation - Philippines
- CNBM International Corporation - China
- International Coal Ventures Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Mercuria Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Grasim Industreis Ltd - India
- Chettinad Cement Corporation Ltd - India
- Bhatia International Limited - India
- Goldman Sachs - Singapore
- Chamber of Mines of South Africa
- VISA Power Limited - India
- Xindia Steels Limited - India
- Singapore Mercantile Exchange
- Trasteel International SA, Italy
- TNB Fuel Sdn Bhd - Malaysia
- Savvy Resources Ltd - HongKong
- Makarim & Taira - Indonesia
- Sarangani Energy Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Gujarat Sidhee Cement - India
- Vedanta Resources Plc - India
- Larsen & Toubro Limited - India
- Bulk Trading Sa - Switzerland
- Australian Coal Association
- PetroVietnam Power Coal Import and Supply Company
- Karaikal Port Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Indika Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Binh Thuan Hamico - Vietnam
- Jaiprakash Power Ventures ltd
- Formosa Plastics Group - Taiwan
- Uttam Galva Steels Limited - India
- PowerSource Philippines DevCo
- Africa Commodities Group - South Africa
- OPG Power Generation Pvt Ltd - India
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