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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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Tuesday, 30 March 10
CHINA'S DROUGHT RAISES COAL PRICES, LOWERS HYDROPOWER
Bloomberg reported that, Benchmark coal prices at Qinhuangdao, China’s largest port handling the fuel, rose for the first time in 10 weeks aft ...
Sunday, 28 March 10
DEMAND FROM INDIA RESHAPING THE GLOBAL COAL MARKET - DAVE FOREST
Attention international coal industry. There's a new kid on the block.
The nation of India.
India is emerging as a major re-shaping force for ...
Sunday, 28 March 10
SHIPS FROM WC INDIA TO CHINA CONTINUED TO BE FIXED AT HEALTHY LEVELS AT AROUND US$ 50/52,000 PER DAY - VISTAAR
COALspot.com: The dry bulk freight market seemed to be heading for a correction with all the indices dropping by 8-10 pct except for handy size whic ...
Saturday, 27 March 10
CHINA DROUGHT MAY RAISE COAL DEMAND, BOOST PRICES, CLSA SAYS - BLOOMBERG
Bloomberg reported that, Droughts in southwest China may increase demand for coal used in power plants, and ‘support” prices in the &ldq ...
Saturday, 27 March 10
CHINA TO REMAIN NET COAL IMPORTER IN NEAR FUTURE - STEEL GURU
Xinhua News cited Mr Wu Chenghou a councilor with the China Coal Transportation and Marketing Association as saying that China will remain a net coa ...
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- Siam City Cement - Thailand
- The Treasury - Australian Government
- Carbofer General Trading SA - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sarangani Energy Corporation, Philippines
- Gujarat Sidhee Cement - India
- Bukit Baiduri Energy - Indonesia
- PowerSource Philippines DevCo
- Latin American Coal - Colombia
- Baramulti Group, Indonesia
- Meenaskhi Energy Private Limited - India
- Star Paper Mills Limited - India
- Iligan Light & Power Inc, Philippines
- Mercator Lines Limited - India
- PNOC Exploration Corporation - Philippines
- Makarim & Taira - Indonesia
- Energy Link Ltd, New Zealand
- Global Business Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Australian Coal Association
- Ministry of Finance - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Leighton Contractors Pty Ltd - Australia
- Thiess Contractors Indonesia
- Sical Logistics Limited - India
- Coal and Oil Company - UAE
- Borneo Indobara - Indonesia
- Samtan Co., Ltd - South Korea
- Sakthi Sugars Limited - India
- Ind-Barath Power Infra Limited - India
- Orica Australia Pty. Ltd.
- Gujarat Mineral Development Corp Ltd - India
- Videocon Industries ltd - India
- White Energy Company Limited
- Bangladesh Power Developement Board
- Kaltim Prima Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Merrill Lynch Commodities Europe
- Commonwealth Bank - Australia
- Vedanta Resources Plc - India
- Coastal Gujarat Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Larsen & Toubro Limited - India
- Lanco Infratech Ltd - India
- International Coal Ventures Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Binh Thuan Hamico - Vietnam
- Globalindo Alam Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Ambuja Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Maharashtra Electricity Regulatory Commission - India
- VISA Power Limited - India
- Eastern Energy - Thailand
- Bulk Trading Sa - Switzerland
- OPG Power Generation Pvt Ltd - India
- PTC India Limited - India
- Grasim Industreis Ltd - India
- ICICI Bank Limited - India
- Coalindo Energy - Indonesia
- Indian Energy Exchange, India
- Maheswari Brothers Coal Limited - India
- Bayan Resources Tbk. - Indonesia
- SMG Consultants - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Africa Commodities Group - South Africa
- Karaikal Port Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Georgia Ports Authority, United States
- Aditya Birla Group - India
- Manunggal Multi Energi - Indonesia
- Goldman Sachs - Singapore
- Indogreen Group - Indonesia
- Aboitiz Power Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- LBH Netherlands Bv - Netherlands
- ASAPP Information Group - India
- GVK Power & Infra Limited - India
- Trasteel International SA, Italy
- Pendopo Energi Batubara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Madhucon Powers Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Anglo American - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- Therma Luzon, Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Sindya Power Generating Company Private Ltd
- Rio Tinto Coal - Australia
- Bhoruka Overseas - Indonesia
- Edison Trading Spa - Italy
- Price Waterhouse Coopers - Russia
- IHS Mccloskey Coal Group - USA
- Agrawal Coal Company - India
- Economic Council, Georgia
- Miang Besar Coal Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Antam Resourcindo - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Indika Energy - Indonesia
- Xindia Steels Limited - India
- Central Java Power - Indonesia
- The State Trading Corporation of India Ltd
- India Bulls Power Limited - India
- McConnell Dowell - Australia
- Parliament of New Zealand
- The University of Queensland
- Mintek Dendrill Indonesia
- Indonesian Coal Mining Association
- Deloitte Consulting - India
- Mercuria Energy - Indonesia
- New Zealand Coal & Carbon
- Tamil Nadu electricity Board
- Global Green Power PLC Corporation, Philippines
- Wilmar Investment Holdings
- Bharathi Cement Corporation - India
- Simpson Spence & Young - Indonesia
- Tata Chemicals Ltd - India
- Chamber of Mines of South Africa
- Directorate Of Revenue Intelligence - India
- Bahari Cakrawala Sebuku - Indonesia
- Romanian Commodities Exchange
- London Commodity Brokers - England
- Central Electricity Authority - India
- Energy Development Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining and Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Eastern Coal Council - USA
- Asmin Koalindo Tuhup - Indonesia
- Parry Sugars Refinery, India
- Dalmia Cement Bharat India
- Electricity Generating Authority of Thailand
- Bhushan Steel Limited - India
- Riau Bara Harum - Indonesia
- Petron Corporation, Philippines
- Vizag Seaport Private Limited - India
- Malabar Cements Ltd - India
- Medco Energi Mining Internasional
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Standard Chartered Bank - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Independent Power Producers Association of India
- Australian Commodity Traders Exchange
- Kepco SPC Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Toyota Tsusho Corporation, Japan
- IEA Clean Coal Centre - UK
- CIMB Investment Bank - Malaysia
- Oldendorff Carriers - Singapore
- Intertek Mineral Services - Indonesia
- MS Steel International - UAE
- Jaiprakash Power Ventures ltd
- Sojitz Corporation - Japan
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement PLC, Thailand
- Holcim Trading Pte Ltd - Singapore
- Salva Resources Pvt Ltd - India
- Indian Oil Corporation Limited
- Ministry of Mines - Canada
- Kartika Selabumi Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- TeaM Sual Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Ministry of Transport, Egypt
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining Corp, Philippines
- Savvy Resources Ltd - HongKong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bhatia International Limited - India
- Banpu Public Company Limited - Thailand
- Sree Jayajothi Cements Limited - India
- Posco Energy - South Korea
- Billiton Holdings Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Singapore Mercantile Exchange
- Thai Mozambique Logistica
- Cement Manufacturers Association - India
- Wood Mackenzie - Singapore
- Indo Tambangraya Megah - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Renaissance Capital - South Africa
- Attock Cement Pakistan Limited
- Minerals Council of Australia
- Altura Mining Limited, Indonesia
- GMR Energy Limited - India
- Formosa Plastics Group - Taiwan
- South Luzon Thermal Energy Corporation
- CNBM International Corporation - China
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Authority, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Uttam Galva Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Port Waratah Coal Services - Australia
- Interocean Group of Companies - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mjunction Services Limited - India
- Planning Commission, India
- Bukit Asam (Persero) Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- SMC Global Power, Philippines
- Meralco Power Generation, Philippines
- Kumho Petrochemical, South Korea
- Metalloyd Limited - United Kingdom
- Global Coal Blending Company Limited - Australia
- Heidelberg Cement - Germany
- Marubeni Corporation - India
- Power Finance Corporation Ltd., India
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