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Tuesday, 30 March 10
PRICES FOR COKING COAL, IRON ORE TO SOAR AMID BURGEONING STEEL DEMAND: SCOTIABANK
 Winnipeg Free Press reported that, Strong steel demand from China and a recovery in the developed world will push coking coal prices 56 per cent higher while iron ore prices are also set to soar, according to a new report from Scotiabank.
"A broadening recovery in the steel market" has resulted in dramatically higher prices for the two commodities, both of which are used in the production of steel, said Scotiabank commodity specialist Patricia Mohr.
"Last year, China's steel production increased hugely, partly because of their infrastructure development program but also just because of the growth in their economy," Mohr said.
"Now, this year, the steel production in China is going to increase further... and on top of that you're going to get a recovery in the steel industries in the G7 countries."
This means the prices being hammered out in contract negotiations for the two commodities are substantially higher than they were last year.
For example, contract prices for premium-grade coking coal produced by Vancouver-based Teck Resources Ltd. will rise from US$128 per tonne to $200 per tonne for the April-to-June quarter. This compares with a record high of $300 per tonne in 2008.
"Even the $128 was a lucrative price for coking coal, so $200 is extremely lucrative for the companies. They'll be making a lot of money," Mohr said, adding that she expects prices to go even higher in the second quarter of fiscal 2010.
This is partly because Australia's Hay Point, one of the world's most important shipping ports for coking coal, was damaged by a cyclone last week, tightening the market even further.
Meanwhile, "huge price gains" are also likely for Canadian iron ore producers, Mohr said.
According to the Scotiabank report, the spot price of Indian iron ore delivered into northern China has risen to between US$154 and $157 per tonne - 122 per cent higher than the annual contract price for ore from Australia delivered to northern China. This points to a jump in annual contract prices for fiscal 2010, which is bad news for steel producers, Mohr said.
"It's going to squeeze steel producers around the world, so they are going to have to jack up steel prices quite quickly," she said.
While steelmakers may suffer, the strong price increases bode well for the many Canadian companies that produce coking coal - including Teck, Grande Cache Coal Corp. and Western Coal Corp. - as well as iron ore producers like Labrador Iron Ore Royalty Income Fund, Baffinland Iron Mines Corp., Consolidated Thompson Iron Mines Ltd. and Adriana Resources Inc.
In Canada, coking coal is primarily found in British Columbia and Alberta, while there are major iron ore deposits in Quebec, Labrador and on Baffin Island in Nunavut.
Scotiabank's commodity price index, released Monday, slipped 0.7 per cent in February after four consecutive monthly gains due to concerns about the economies of some European countries.
Investor worries about debt risks in Greece, Portugal and Spain led to a decreased appetite for risk and a flight into "safe-haven" investments like U.S. treasuries, which in turn pushed commodity prices lower.
The metal and minerals index fell by three per cent between January and February due to a temporary pullback in base metal, gold and silver prices.
Scotiabank's oil and gas index fell by 4.5 per cent month over month due to lower prices for natural gas and crude, but world oil demand is growing again and should be on a par with the previous peak seen in 2007 by next year, the report said.
Meanwhile, the forest products index grew by 8.1 per cent in February due in large part to the earthquake in Chile last month. The earthquake was centred in the country's major pulp-producing region and cut global pulp production capability by 7.5 per cent.
The agricultural index gained 0.6 per cent due to stronger lobster and hog prices, which offset small declines in cattle, wheat, barley and canola prices.
Source: Winnipeg Free Press (By: Kristine Owram)
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Thursday, 08 April 10
INDONESIAN ENERGY MINISTRY SEEKS LONGER MINING CONTRACTS - THE JAKARTAGLOBE
The Jakarta Globe reported that, Energy Minister Darwin Zahedy Saleh said he would seek to amend the mining law to address investors’ complain ...
Thursday, 08 April 10
NAPOCOR GETS ONE OFFER AT COAL TENDER - ABS CBN
ABS- CBN News reported that, Philippine power producer National Power Corp. (Napocor) is likely to buy 50,000 tons of steam coal from PT Berau Coal ...
Wednesday, 07 April 10
DRY BULK MARKET LOOKING FOR DIRECTION
The dry bulk market has kept a low profile during the past week, as evidenced by the small changes of a usually rather turbulent Baltic Dry Index (B ...
Tuesday, 06 April 10
NEWCASTLE COAL EXPORTS RISE 24%, SHIP QUEUE SHORTENS - BLOOMBERG
Bloomberg reported that, Coal shipments from Australia’s Newcastle port, the world’s biggest export harbor for the fuel used in power st ...
Tuesday, 06 April 10
UAE STEEL TRADERS FEAR LOSSES ON GLOBAL HIKE
A sudden spurt in the price of iron ore in the international market has caught local steel traders and manufacturers and a host of other steel-depen ...
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- London Commodity Brokers - England
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- Sakthi Sugars Limited - India
- Eastern Energy - Thailand
- Uttam Galva Steels Limited - India
- Bhoruka Overseas - Indonesia
- SMG Consultants - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Oldendorff Carriers - Singapore
- Mjunction Services Limited - India
- Aboitiz Power Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Ambuja Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- Thai Mozambique Logistica
- Siam City Cement - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Wilmar Investment Holdings
- Trasteel International SA, Italy
- Carbofer General Trading SA - India
- Petrochimia International Co. Ltd.- Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GVK Power & Infra Limited - India
- Dalmia Cement Bharat India
- Indogreen Group - Indonesia
- Agrawal Coal Company - India
- Sree Jayajothi Cements Limited - India
- Attock Cement Pakistan Limited
- Power Finance Corporation Ltd., India
- Ind-Barath Power Infra Limited - India
- ICICI Bank Limited - India
- Mercator Lines Limited - India
- Kartika Selabumi Mining - Indonesia
- Commonwealth Bank - Australia
- VISA Power Limited - India
- Bhatia International Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Ministry of Mines - Canada
- Global Business Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Samtan Co., Ltd - South Korea
- Binh Thuan Hamico - Vietnam
- Coalindo Energy - Indonesia
- Gujarat Sidhee Cement - India
- Indian Oil Corporation Limited
- The Treasury - Australian Government
- GN Power Mariveles Coal Plant, Philippines
- Antam Resourcindo - Indonesia
- Port Waratah Coal Services - Australia
- CIMB Investment Bank - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- Eastern Coal Council - USA
- Karbindo Abesyapradhi - Indoneisa
- Electricity Authority, New Zealand
- White Energy Company Limited
- Wood Mackenzie - Singapore
- Energy Development Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Green Power PLC Corporation, Philippines
- Edison Trading Spa - Italy
- Georgia Ports Authority, United States
- Grasim Industreis Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Borneo Indobara - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Malabar Cements Ltd - India
- Electricity Generating Authority of Thailand
- Australian Coal Association
- OPG Power Generation Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- PowerSource Philippines DevCo
- Manunggal Multi Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- SN Aboitiz Power Inc, Philippines
- Medco Energi Mining Internasional
- AsiaOL BioFuels Corp., Philippines
- Xindia Steels Limited - India
- Aditya Birla Group - India
- Vizag Seaport Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Sojitz Corporation - Japan
- Bangladesh Power Developement Board
- Kumho Petrochemical, South Korea
- Energy Link Ltd, New Zealand
- Lanco Infratech Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Indian Energy Exchange, India
- Therma Luzon, Inc, Philippines
- Videocon Industries ltd - India
- Price Waterhouse Coopers - Russia
- Bahari Cakrawala Sebuku - Indonesia
- South Luzon Thermal Energy Corporation
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- Formosa Plastics Group - Taiwan
- Goldman Sachs - Singapore
- Merrill Lynch Commodities Europe
- Leighton Contractors Pty Ltd - Australia
- ASAPP Information Group - India
- Alfred C Toepfer International GmbH - Germany
- Indika Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- GAC Shipping (India) Pvt Ltd
- New Zealand Coal & Carbon
- PTC India Limited - India
- SMC Global Power, Philippines
- Independent Power Producers Association of India
- Baramulti Group, Indonesia
- Globalindo Alam Lestari - Indonesia
- Petron Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Cement Manufacturers Association - India
- Orica Australia Pty. Ltd.
- Metalloyd Limited - United Kingdom
- Kaltim Prima Coal - Indonesia
- Mercuria Energy - Indonesia
- India Bulls Power Limited - India
- Makarim & Taira - Indonesia
- Bayan Resources Tbk. - Indonesia
- Tamil Nadu electricity Board
- Mintek Dendrill Indonesia
- Madhucon Powers Ltd - India
- Barasentosa Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- IEA Clean Coal Centre - UK
- Heidelberg Cement - Germany
- Coastal Gujarat Power Limited - India
- Chamber of Mines of South Africa
- Cigading International Bulk Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- Parliament of New Zealand
- GMR Energy Limited - India
- Timah Investasi Mineral - Indoneisa
- Meenaskhi Energy Private Limited - India
- Indonesian Coal Mining Association
- Miang Besar Coal Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Star Paper Mills Limited - India
- Semirara Mining Corp, Philippines
- Vedanta Resources Plc - India
- The University of Queensland
- Altura Mining Limited, Indonesia
- Renaissance Capital - South Africa
- Holcim Trading Pte Ltd - Singapore
- Posco Energy - South Korea
- European Bulk Services B.V. - Netherlands
- MS Steel International - UAE
- Kepco SPC Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Planning Commission, India
- Jindal Steel & Power Ltd - India
- CNBM International Corporation - China
- The State Trading Corporation of India Ltd
- Toyota Tsusho Corporation, Japan
- Tata Chemicals Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Meralco Power Generation, Philippines
- Directorate Of Revenue Intelligence - India
- Krishnapatnam Port Company Ltd. - India
- Latin American Coal - Colombia
- Thiess Contractors Indonesia
- Minerals Council of Australia
- Coal and Oil Company - UAE
- Pendopo Energi Batubara - Indonesia
- Banpu Public Company Limited - Thailand
- Bulk Trading Sa - Switzerland
- Indo Tambangraya Megah - Indonesia
- McConnell Dowell - Australia
- Singapore Mercantile Exchange
- Riau Bara Harum - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Sindya Power Generating Company Private Ltd
- Sical Logistics Limited - India
- Marubeni Corporation - India
- Anglo American - United Kingdom
- Africa Commodities Group - South Africa
- Central Java Power - Indonesia
- Siam City Cement PLC, Thailand
- Deloitte Consulting - India
- Maheswari Brothers Coal Limited - India
- Parry Sugars Refinery, India
- Ministry of Transport, Egypt
- Central Electricity Authority - India
- Kobexindo Tractors - Indoneisa
- Simpson Spence & Young - Indonesia
- Intertek Mineral Services - Indonesia
- San Jose City I Power Corp, Philippines
- Bharathi Cement Corporation - India
- Iligan Light & Power Inc, Philippines
- Interocean Group of Companies - India
- Neyveli Lignite Corporation Ltd, - India
- Romanian Commodities Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- Ministry of Finance - Indonesia
- Savvy Resources Ltd - HongKong
- Orica Mining Services - Indonesia
- Rio Tinto Coal - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Larsen & Toubro Limited - India
- Essar Steel Hazira Ltd - India
- Economic Council, Georgia
- Global Coal Blending Company Limited - Australia
- Standard Chartered Bank - UAE
- Sarangani Energy Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
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