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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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Wednesday, 31 March 10
COAL INDIA MULLS JOINT VENTURE WITH RIO TINTO AND PEABODY - DNA
DNA reported that, Coal India Ltd. (CIL) has finalised two key contenders for its international joint venture (JV) in Australian and US each. The co ...
Wednesday, 31 March 10
DRY BULK MARKET STILL MODERATELY FALLING, BUT POSITIVE SIGNS APPEAR ON THE HORIZON - HELLENIC SHIPPING
The irregularities of the current dry bulk market have been more than evident in the fact that panamax vessels today earn more than their larger cap ...
Wednesday, 31 March 10
INDIKA ENERGYS PROFIT HIT BY FOREX LOSS AND CABOTAGE - THE JAKARTA GLOBE
The Jakarta Globe reportd that, PT Indika Energy posted a 30 percent drop in 2009 net profit due to a foreign exchange loss and impairment of intang ...
Wednesday, 31 March 10
ITMG TO UP COAL OUTPUT DESPITE PERMIT PROBLEMS - THE JAKARTA POST
The Jakarta Post reported that, the country’s third largest coal producer PT Indo Tambang Raya Megah (ITMG) said it can raise output although ...
Tuesday, 30 March 10
ANALYST SEES BDI LIFT, SUGGESTS DRY BULK SHORT SQUEEZE
Analysts at Credit Suisse are bullish on Diana and see a potential short squeeze elsewhere in the sector. The Baltic Dry Index (BDI) -- an industry ...
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- Thai Mozambique Logistica
- Port Waratah Coal Services - Australia
- Neyveli Lignite Corporation Ltd, - India
- Sical Logistics Limited - India
- New Zealand Coal & Carbon
- Cement Manufacturers Association - India
- Wilmar Investment Holdings
- MS Steel International - UAE
- Mjunction Services Limited - India
- Bukit Makmur.PT - Indonesia
- IEA Clean Coal Centre - UK
- LBH Netherlands Bv - Netherlands
- Bulk Trading Sa - Switzerland
- Kepco SPC Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- Riau Bara Harum - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Metalloyd Limited - United Kingdom
- GVK Power & Infra Limited - India
- Posco Energy - South Korea
- Chamber of Mines of South Africa
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- Coalindo Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Attock Cement Pakistan Limited
- Tamil Nadu electricity Board
- Madhucon Powers Ltd - India
- Aditya Birla Group - India
- The Treasury - Australian Government
- White Energy Company Limited
- Central Electricity Authority - India
- TeaM Sual Corporation - Philippines
- Star Paper Mills Limited - India
- Independent Power Producers Association of India
- ICICI Bank Limited - India
- ASAPP Information Group - India
- Antam Resourcindo - Indonesia
- Parry Sugars Refinery, India
- Xindia Steels Limited - India
- Deloitte Consulting - India
- Economic Council, Georgia
- Energy Link Ltd, New Zealand
- Minerals Council of Australia
- Marubeni Corporation - India
- Edison Trading Spa - Italy
- IHS Mccloskey Coal Group - USA
- Gujarat Mineral Development Corp Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Parliament of New Zealand
- European Bulk Services B.V. - Netherlands
- Singapore Mercantile Exchange
- Renaissance Capital - South Africa
- Medco Energi Mining Internasional
- London Commodity Brokers - England
- McConnell Dowell - Australia
- GAC Shipping (India) Pvt Ltd
- International Coal Ventures Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Commonwealth Bank - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Energy Development Corp, Philippines
- Georgia Ports Authority, United States
- Sree Jayajothi Cements Limited - India
- SMC Global Power, Philippines
- Bhoruka Overseas - Indonesia
- Karaikal Port Pvt Ltd - India
- CNBM International Corporation - China
- GMR Energy Limited - India
- Eastern Coal Council - USA
- Indogreen Group - Indonesia
- Australian Commodity Traders Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Sarangani Energy Corporation, Philippines
- VISA Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Indian Oil Corporation Limited
- Kumho Petrochemical, South Korea
- Ministry of Transport, Egypt
- Therma Luzon, Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Kartika Selabumi Mining - Indonesia
- Banpu Public Company Limited - Thailand
- Kapuas Tunggal Persada - Indonesia
- Africa Commodities Group - South Africa
- Heidelberg Cement - Germany
- Borneo Indobara - Indonesia
- Electricity Authority, New Zealand
- Grasim Industreis Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Asam (Persero) Tbk - Indonesia
- Mercator Lines Limited - India
- Indonesian Coal Mining Association
- Bukit Baiduri Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate General of MIneral and Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Sakthi Sugars Limited - India
- Ambuja Cements Ltd - India
- SMG Consultants - Indonesia
- Power Finance Corporation Ltd., India
- Altura Mining Limited, Indonesia
- Aboitiz Power Corporation - Philippines
- Rio Tinto Coal - Australia
- Timah Investasi Mineral - Indoneisa
- Orica Australia Pty. Ltd.
- Manunggal Multi Energi - Indonesia
- Merrill Lynch Commodities Europe
- The University of Queensland
- Gujarat Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Romanian Commodities Exchange
- Tata Chemicals Ltd - India
- Formosa Plastics Group - Taiwan
- Mercuria Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Interocean Group of Companies - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- India Bulls Power Limited - India
- Samtan Co., Ltd - South Korea
- Lanco Infratech Ltd - India
- Bharathi Cement Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Bayan Resources Tbk. - Indonesia
- Bhatia International Limited - India
- Goldman Sachs - Singapore
- Ceylon Electricity Board - Sri Lanka
- Eastern Energy - Thailand
- Latin American Coal - Colombia
- Alfred C Toepfer International GmbH - Germany
- Videocon Industries ltd - India
- Global Green Power PLC Corporation, Philippines
- Vedanta Resources Plc - India
- South Luzon Thermal Energy Corporation
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement - Thailand
- Baramulti Group, Indonesia
- Central Java Power - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Intertek Mineral Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Sindya Power Generating Company Private Ltd
- Bhushan Steel Limited - India
- Global Business Power Corporation, Philippines
- Agrawal Coal Company - India
- Australian Coal Association
- Indian Energy Exchange, India
- Mintek Dendrill Indonesia
- PNOC Exploration Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Price Waterhouse Coopers - Russia
- Binh Thuan Hamico - Vietnam
- Bangladesh Power Developement Board
- Kohat Cement Company Ltd. - Pakistan
- Indika Energy - Indonesia
- Coal and Oil Company - UAE
- Sinarmas Energy and Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Larsen & Toubro Limited - India
- Directorate Of Revenue Intelligence - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Trasteel International SA, Italy
- Vizag Seaport Private Limited - India
- Chettinad Cement Corporation Ltd - India
- PTC India Limited - India
- Maheswari Brothers Coal Limited - India
- Carbofer General Trading SA - India
- Anglo American - United Kingdom
- Thiess Contractors Indonesia
- Indo Tambangraya Megah - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Cigading International Bulk Terminal - Indonesia
- Gujarat Sidhee Cement - India
- OPG Power Generation Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Electricity Generating Authority of Thailand
- Ministry of Finance - Indonesia
- Ind-Barath Power Infra Limited - India
- Orica Mining Services - Indonesia
- Toyota Tsusho Corporation, Japan
- The State Trading Corporation of India Ltd
- Makarim & Taira - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- Jaiprakash Power Ventures ltd
- Jindal Steel & Power Ltd - India
- AsiaOL BioFuels Corp., Philippines
- San Jose City I Power Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Sojitz Corporation - Japan
- Essar Steel Hazira Ltd - India
- Kaltim Prima Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Simpson Spence & Young - Indonesia
- PowerSource Philippines DevCo
- Wood Mackenzie - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Savvy Resources Ltd - HongKong
- Dalmia Cement Bharat India
- Malabar Cements Ltd - India
- Meralco Power Generation, Philippines
- Siam City Cement PLC, Thailand
- Petron Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Planning Commission, India
- Semirara Mining Corp, Philippines
- Standard Chartered Bank - UAE
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