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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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Friday, 26 March 10
CHINA PLANS TO INCREASES IMPORT COAL GREATLY IN 2010
– Asia Pacific Coal Trading & Investment Outlook 2010-
COALspot.com (Press Release): China plans to increase coal import significantly ...
Friday, 26 March 10
NTPC IN TALKS FOR INDONESIAN MINE - LIVE MINT
The deal for the coal mine with 1.8 bn tonnes of reserves may be valued at $1 bn
Live Mint reported that, State-run power utility NTPC Ltd is in ta ...
Friday, 26 March 10
ESSAR GROUP SIGNS DEAL FOR INDONESIAN COAL MINE - BUSINESS LINE
Looking ahead
The coal from the Indonesian mine would provide raw material to the group's power projects
The Aries coal mines acquired by the gro ...
Thursday, 25 March 10
CHINA RAILWAY WINS $4.8 BILLION INDONESIA PROJECT - BLOOMBERG
Bloomberg reported that, China Railway Group Ltd. won a $4.8 billion order from PT Bukit Asam, Indonesia’s state-owned coal producer, for a co ...
Thursday, 25 March 10
INDIAS MAHARASHTRA SEEKS TO IMPORT 3.35 MILLION TONS OF COAL - BLOOMBERG
Bloomberg reported that, Maharashtra State Power Generation Co., a provider of electricity to India’s commercial hub Mumbai, is seeking 3.35 m ...
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- Sical Logistics Limited - India
- Independent Power Producers Association of India
- Siam City Cement - Thailand
- Maheswari Brothers Coal Limited - India
- GAC Shipping (India) Pvt Ltd
- Carbofer General Trading SA - India
- LBH Netherlands Bv - Netherlands
- Minerals Council of Australia
- Australian Commodity Traders Exchange
- Salva Resources Pvt Ltd - India
- Posco Energy - South Korea
- Banpu Public Company Limited - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Makarim & Taira - Indonesia
- Sakthi Sugars Limited - India
- Indogreen Group - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Africa Commodities Group - South Africa
- Oldendorff Carriers - Singapore
- Karaikal Port Pvt Ltd - India
- Indika Energy - Indonesia
- Borneo Indobara - Indonesia
- Therma Luzon, Inc, Philippines
- Mercator Lines Limited - India
- Latin American Coal - Colombia
- Mintek Dendrill Indonesia
- Miang Besar Coal Terminal - Indonesia
- Cement Manufacturers Association - India
- Malabar Cements Ltd - India
- Energy Link Ltd, New Zealand
- Intertek Mineral Services - Indonesia
- Dalmia Cement Bharat India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Indonesian Coal Mining Association
- Rio Tinto Coal - Australia
- Sindya Power Generating Company Private Ltd
- Port Waratah Coal Services - Australia
- Thiess Contractors Indonesia
- Straits Asia Resources Limited - Singapore
- Semirara Mining Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Toyota Tsusho Corporation, Japan
- Directorate Of Revenue Intelligence - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Iligan Light & Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Deloitte Consulting - India
- Cigading International Bulk Terminal - Indonesia
- GVK Power & Infra Limited - India
- Mjunction Services Limited - India
- Kideco Jaya Agung - Indonesia
- Ind-Barath Power Infra Limited - India
- Grasim Industreis Ltd - India
- Attock Cement Pakistan Limited
- Larsen & Toubro Limited - India
- Coal and Oil Company - UAE
- Formosa Plastics Group - Taiwan
- The Treasury - Australian Government
- Savvy Resources Ltd - HongKong
- TNB Fuel Sdn Bhd - Malaysia
- Coastal Gujarat Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Planning Commission, India
- GMR Energy Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Vizag Seaport Private Limited - India
- Antam Resourcindo - Indonesia
- Anglo American - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- South Luzon Thermal Energy Corporation
- MS Steel International - UAE
- Global Green Power PLC Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Medco Energi Mining Internasional
- Heidelberg Cement - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- Essar Steel Hazira Ltd - India
- Bayan Resources Tbk. - Indonesia
- Indian Oil Corporation Limited
- Jindal Steel & Power Ltd - India
- India Bulls Power Limited - India
- Baramulti Group, Indonesia
- Ministry of Mines - Canada
- The State Trading Corporation of India Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CNBM International Corporation - China
- PNOC Exploration Corporation - Philippines
- Madhucon Powers Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Ministry of Transport, Egypt
- Riau Bara Harum - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Indian Energy Exchange, India
- Binh Thuan Hamico - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- Bharathi Cement Corporation - India
- Marubeni Corporation - India
- Economic Council, Georgia
- Meenaskhi Energy Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Eastern Coal Council - USA
- Xindia Steels Limited - India
- Global Business Power Corporation, Philippines
- Bangladesh Power Developement Board
- Metalloyd Limited - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Siam City Cement PLC, Thailand
- Petron Corporation, Philippines
- Tamil Nadu electricity Board
- Central Java Power - Indonesia
- Wilmar Investment Holdings
- Electricity Authority, New Zealand
- Samtan Co., Ltd - South Korea
- Georgia Ports Authority, United States
- Aboitiz Power Corporation - Philippines
- Kumho Petrochemical, South Korea
- Interocean Group of Companies - India
- Vedanta Resources Plc - India
- Gujarat Sidhee Cement - India
- The University of Queensland
- CIMB Investment Bank - Malaysia
- IHS Mccloskey Coal Group - USA
- Goldman Sachs - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Merrill Lynch Commodities Europe
- International Coal Ventures Pvt Ltd - India
- Mercuria Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Electricity Generating Authority of Thailand
- Commonwealth Bank - Australia
- Thai Mozambique Logistica
- Eastern Energy - Thailand
- Wood Mackenzie - Singapore
- Star Paper Mills Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Kaltim Prima Coal - Indonesia
- Altura Mining Limited, Indonesia
- IEA Clean Coal Centre - UK
- SMC Global Power, Philippines
- Orica Mining Services - Indonesia
- Parry Sugars Refinery, India
- Ceylon Electricity Board - Sri Lanka
- Australian Coal Association
- Sinarmas Energy and Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Ministry of Finance - Indonesia
- Standard Chartered Bank - UAE
- Chamber of Mines of South Africa
- Price Waterhouse Coopers - Russia
- Kobexindo Tractors - Indoneisa
- PowerSource Philippines DevCo
- Bukit Makmur.PT - Indonesia
- Coalindo Energy - Indonesia
- Ambuja Cements Ltd - India
- Bhushan Steel Limited - India
- ICICI Bank Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Lanco Infratech Ltd - India
- Orica Australia Pty. Ltd.
- Parliament of New Zealand
- Energy Development Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Gujarat Electricity Regulatory Commission - India
- White Energy Company Limited
- Kartika Selabumi Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Timah Investasi Mineral - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Edison Trading Spa - Italy
- Singapore Mercantile Exchange
- Agrawal Coal Company - India
- Kepco SPC Power Corporation, Philippines
- VISA Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Bukit Baiduri Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bhatia International Limited - India
- Globalindo Alam Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Aditya Birla Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tata Chemicals Ltd - India
- Meralco Power Generation, Philippines
- Power Finance Corporation Ltd., India
- New Zealand Coal & Carbon
- Videocon Industries ltd - India
- TeaM Sual Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Barasentosa Lestari - Indonesia
- Romanian Commodities Exchange
- Holcim Trading Pte Ltd - Singapore
- London Commodity Brokers - England
- Trasteel International SA, Italy
- Sojitz Corporation - Japan
- Maharashtra Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Renaissance Capital - South Africa
- ASAPP Information Group - India
- Krishnapatnam Port Company Ltd. - India
- McConnell Dowell - Australia
- PTC India Limited - India
- Sree Jayajothi Cements Limited - India
- European Bulk Services B.V. - Netherlands
- Central Electricity Authority - India
- SMG Consultants - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Simpson Spence & Young - Indonesia
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