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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, 25 March 10
THE INDIAN MARKET IS STILL FIRM - FEARNLEYS AS
Handy
A sluggish start to the week in the Atlantic with little fresh busin ...
Tuesday, 23 March 10
NINE COMPANIES WIN 20-YEAR COAL CONTRACTS - TEMPO
Tempo Interactive reported that, State Eletricity Company (Perusahaan Listrik Negara) revealed four joint ventures and one company winning coa ...
Monday, 22 March 10
INDONESIA`S MERUKH WINS US$3 BLN SWISS CONTRACT TO SUPPLY COAL - ANTARA
Antara Reported that, Indonesia's PT Merukh Enterprises said it has secured a 30-year contract to supply coal to Swiss buyer Glencore International ...
Monday, 22 March 10
INDIA TO IMPORT COLOMBIAN COAL FOR FIRST TIME AS DEMAND SURGES - BLOOMBERG
Bloomberg reported that, Adani Enterprises Ltd., India’s biggest coal importer, agreed to buy thermal coal from Colombia for the first t ...
Saturday, 20 March 10
NO MAJOR CHANGES ON SUPRAMAX MARKET FOR NEXT COUPLE OF WEEKS - VISTAAR
COALspot.com: “The dry bulk freight market continued to be firm on the Panamax and Supramax and Handy size vessels”, said Capt. Reddy MD ...
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- Pipit Mutiara Jaya. PT, Indonesia
- Mercuria Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Australian Coal Association
- Port Waratah Coal Services - Australia
- Global Business Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- IHS Mccloskey Coal Group - USA
- TNB Fuel Sdn Bhd - Malaysia
- Commonwealth Bank - Australia
- GN Power Mariveles Coal Plant, Philippines
- Karaikal Port Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Carbofer General Trading SA - India
- Vedanta Resources Plc - India
- Vizag Seaport Private Limited - India
- Indian Oil Corporation Limited
- Sojitz Corporation - Japan
- Borneo Indobara - Indonesia
- White Energy Company Limited
- Altura Mining Limited, Indonesia
- Makarim & Taira - Indonesia
- Malabar Cements Ltd - India
- The University of Queensland
- Standard Chartered Bank - UAE
- Leighton Contractors Pty Ltd - Australia
- SMG Consultants - Indonesia
- Latin American Coal - Colombia
- Vijayanagar Sugar Pvt Ltd - India
- Posco Energy - South Korea
- Essar Steel Hazira Ltd - India
- Intertek Mineral Services - Indonesia
- Therma Luzon, Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- VISA Power Limited - India
- Petron Corporation, Philippines
- Parliament of New Zealand
- Kapuas Tunggal Persada - Indonesia
- Xindia Steels Limited - India
- Cement Manufacturers Association - India
- Uttam Galva Steels Limited - India
- Riau Bara Harum - Indonesia
- Indian Energy Exchange, India
- Chamber of Mines of South Africa
- Krishnapatnam Port Company Ltd. - India
- Deloitte Consulting - India
- Siam City Cement PLC, Thailand
- Global Coal Blending Company Limited - Australia
- Bulk Trading Sa - Switzerland
- Ministry of Transport, Egypt
- Independent Power Producers Association of India
- Tamil Nadu electricity Board
- Sree Jayajothi Cements Limited - India
- Anglo American - United Kingdom
- Star Paper Mills Limited - India
- India Bulls Power Limited - India
- European Bulk Services B.V. - Netherlands
- Savvy Resources Ltd - HongKong
- Mintek Dendrill Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bukit Makmur.PT - Indonesia
- SMC Global Power, Philippines
- Kaltim Prima Coal - Indonesia
- Coalindo Energy - Indonesia
- Mercator Lines Limited - India
- Electricity Authority, New Zealand
- Baramulti Group, Indonesia
- Ministry of Mines - Canada
- PowerSource Philippines DevCo
- Australian Commodity Traders Exchange
- Ind-Barath Power Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Renaissance Capital - South Africa
- Coastal Gujarat Power Limited - India
- Eastern Energy - Thailand
- Indogreen Group - Indonesia
- Dalmia Cement Bharat India
- CIMB Investment Bank - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Indika Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Tata Chemicals Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Goldman Sachs - Singapore
- Meenaskhi Energy Private Limited - India
- Bhatia International Limited - India
- Wood Mackenzie - Singapore
- PTC India Limited - India
- Chettinad Cement Corporation Ltd - India
- Kepco SPC Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Globalindo Alam Lestari - Indonesia
- Barasentosa Lestari - Indonesia
- Oldendorff Carriers - Singapore
- Economic Council, Georgia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bharathi Cement Corporation - India
- Minerals Council of Australia
- Energy Development Corp, Philippines
- Parry Sugars Refinery, India
- PNOC Exploration Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Offshore Bulk Terminal Pte Ltd, Singapore
- New Zealand Coal & Carbon
- Kideco Jaya Agung - Indonesia
- TeaM Sual Corporation - Philippines
- Orica Australia Pty. Ltd.
- Kumho Petrochemical, South Korea
- Coal and Oil Company - UAE
- Africa Commodities Group - South Africa
- Agrawal Coal Company - India
- Simpson Spence & Young - Indonesia
- Romanian Commodities Exchange
- Thiess Contractors Indonesia
- Bhushan Steel Limited - India
- Rashtriya Ispat Nigam Limited - India
- Salva Resources Pvt Ltd - India
- Eastern Coal Council - USA
- Bhoruka Overseas - Indonesia
- Electricity Generating Authority of Thailand
- London Commodity Brokers - England
- The Treasury - Australian Government
- Indo Tambangraya Megah - Indonesia
- Samtan Co., Ltd - South Korea
- Grasim Industreis Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Madhucon Powers Ltd - India
- Manunggal Multi Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- The State Trading Corporation of India Ltd
- Energy Link Ltd, New Zealand
- Antam Resourcindo - Indonesia
- Sarangani Energy Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Banpu Public Company Limited - Thailand
- Wilmar Investment Holdings
- Ministry of Finance - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Marubeni Corporation - India
- Kobexindo Tractors - Indoneisa
- CNBM International Corporation - China
- Lanco Infratech Ltd - India
- LBH Netherlands Bv - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Timah Investasi Mineral - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining and Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Medco Energi Mining Internasional
- Larsen & Toubro Limited - India
- McConnell Dowell - Australia
- Gujarat Sidhee Cement - India
- Directorate General of MIneral and Coal - Indonesia
- Sakthi Sugars Limited - India
- Sical Logistics Limited - India
- Siam City Cement - Thailand
- MS Steel International - UAE
- Straits Asia Resources Limited - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Ceylon Electricity Board - Sri Lanka
- Mjunction Services Limited - India
- Pendopo Energi Batubara - Indonesia
- Singapore Mercantile Exchange
- Maheswari Brothers Coal Limited - India
- Global Green Power PLC Corporation, Philippines
- Meralco Power Generation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Jindal Steel & Power Ltd - India
- Orica Mining Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Attock Cement Pakistan Limited
- Power Finance Corporation Ltd., India
- Interocean Group of Companies - India
- Heidelberg Cement - Germany
- Trasteel International SA, Italy
- Thai Mozambique Logistica
- Formosa Plastics Group - Taiwan
- Holcim Trading Pte Ltd - Singapore
- Cigading International Bulk Terminal - Indonesia
- Videocon Industries ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- ASAPP Information Group - India
- Semirara Mining Corp, Philippines
- Price Waterhouse Coopers - Russia
- Bangladesh Power Developement Board
- IEA Clean Coal Centre - UK
- Ambuja Cements Ltd - India
- Central Electricity Authority - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Java Power - Indonesia
- Iligan Light & Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Georgia Ports Authority, United States
- Edison Trading Spa - Italy
- Aditya Birla Group - India
- ICICI Bank Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Alfred C Toepfer International GmbH - Germany
- SN Aboitiz Power Inc, Philippines
- GVK Power & Infra Limited - India
- Indonesian Coal Mining Association
- International Coal Ventures Pvt Ltd - India
- Planning Commission, India
- Jorong Barutama Greston.PT - Indonesia
- Rio Tinto Coal - Australia
- Bayan Resources Tbk. - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- San Jose City I Power Corp, Philippines
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