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Thursday, 15 July 10
IRON ORE PRICING MECHANISMS PUT ON THE SPOT
 THE new iron ore pricing mechanisms that killed off the annual benchmark system are coming under pressure. The spot price of the steel feed has fallen more than 20 per cent on weakening Chinese demand. Goldman Sachs analyst Malcolm Southwood said Chinese buyers have been largely absent from the spot market for almost a month and show no immediate inclination to return while sentiment remains weak.
He said the economic powerhouse continues to shun offers as it expects prices to keep falling.
"With spot iron ore trading at a discount of more than 20 per cent to the implied third quarter contract price, the new quarterly pricing mechanism is clearly under duress," he said.
"Our own view is that quarterly pricing based on a trailing average index may prove to be too cumbersome, and monthly price resets could ultimately be a more palatable mechanism for both buyers and sellers."
The top three global iron ore producers, Brazil's Vale, Rio Tinto and BHP Billiton, all pushed their customers off the annual benchmark on to quarterly indexed-based contracts.
Mr Southwood said while the investment bank continued to forecast a supply-constrained seaborne market in 2011, market participants remain focused on the near term, which he said was increasingly difficult to construct a "positive fundamentally driven price view".
"With seasonal factors also depressing demand, we see little prospect of a sustained improvement in market conditions during July-August," he said.
Macquarie's London-based analysts said Chinese mills had been running down their on-site inventory as sentiment turned sour.
"In our opinion, there is no obvious catalyst to arrest the current fall in the spot price, and we expect it to drift lower over the next month," Macquarie's team said in a report.
A drop in the spot price came as magnetite producer Grange Resources secured a 107 per cent jump in the annual iron ore pellet benchmark price in a sales deal with BlueScope Steel.
Grange announced yesterday BlueScope would pay $US150 a tonne for iron ore pellets delivered from Grange's Port Latta facility in Tasmania during the quarter beginning on July 1.
Grange chief executive Russell Clark said in addition to agreeing an interim price, the miner was also discussing a new pricing mechanism with BlueScope.
Source: The Australian / Hellenic Shipping
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Sunday, 11 July 10
OVERALL NO OR NEGLIGIBLE IMPACT IN ARUTMIN MINE - BUMI
COALspot.com: Bumi denies the media reports on an impact of unusually rains on coal production in BUMI mines.
"Arutmin is being impacted by ...
Saturday, 10 July 10
FREIGHT MARKET SITUATION MAY CONTINUE FOR NEXT COUPLE OF WEEKS - VISTAAR
COALspot.com: The market continued to soften further with the cape and panamax index down by about 20 pct and closed at 2,102 and 1,944 points respe ...
Saturday, 10 July 10
STC OF INDIA TO ASSOCIATE WITH FUEL SUPPLIERS
COALspot.com: State Trading corporation of India, which is under Ministry of Commerce, has invited Expression of Interest from coal suppliers ...
Saturday, 10 July 10
SCOMI TO SELL STAKE IN INDONESIA OPS - THE STAR
The star online reported that, Scomi Marine Bhd will sell a stake in its marine logistics business in Indonesia to a large Indonesian company to dea ...
Thursday, 08 July 10
KPCL RECEIVES 8 QUALIFIED BIDS TO SUPPLY 500,000 MT OF COAL
COALspot.com: Indian state utility KARNATAKA POWER CORPORATION LIMITED has opened price bid yesterday.
According to a participant, the quo ...
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- European Bulk Services B.V. - Netherlands
- Kumho Petrochemical, South Korea
- Banpu Public Company Limited - Thailand
- VISA Power Limited - India
- New Zealand Coal & Carbon
- Romanian Commodities Exchange
- Ambuja Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Bayan Resources Tbk. - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Straits Asia Resources Limited - Singapore
- Kaltim Prima Coal - Indonesia
- Orica Australia Pty. Ltd.
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- SMC Global Power, Philippines
- Port Waratah Coal Services - Australia
- Alfred C Toepfer International GmbH - Germany
- Antam Resourcindo - Indonesia
- Medco Energi Mining Internasional
- Energy Development Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- MS Steel International - UAE
- Kapuas Tunggal Persada - Indonesia
- Thiess Contractors Indonesia
- OPG Power Generation Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Ceylon Electricity Board - Sri Lanka
- Pipit Mutiara Jaya. PT, Indonesia
- GVK Power & Infra Limited - India
- Eastern Coal Council - USA
- Makarim & Taira - Indonesia
- LBH Netherlands Bv - Netherlands
- Siam City Cement PLC, Thailand
- Indo Tambangraya Megah - Indonesia
- Madhucon Powers Ltd - India
- Malabar Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Rio Tinto Coal - Australia
- CNBM International Corporation - China
- Oldendorff Carriers - Singapore
- Indogreen Group - Indonesia
- Posco Energy - South Korea
- Ministry of Transport, Egypt
- International Coal Ventures Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Economic Council, Georgia
- Sree Jayajothi Cements Limited - India
- GAC Shipping (India) Pvt Ltd
- Cement Manufacturers Association - India
- Savvy Resources Ltd - HongKong
- PowerSource Philippines DevCo
- Lanco Infratech Ltd - India
- SN Aboitiz Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Parliament of New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Minerals Council of Australia
- PetroVietnam Power Coal Import and Supply Company
- Bhatia International Limited - India
- Trasteel International SA, Italy
- Global Green Power PLC Corporation, Philippines
- Singapore Mercantile Exchange
- Karaikal Port Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- London Commodity Brokers - England
- GMR Energy Limited - India
- Kobexindo Tractors - Indoneisa
- Formosa Plastics Group - Taiwan
- Power Finance Corporation Ltd., India
- Bukit Asam (Persero) Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- CIMB Investment Bank - Malaysia
- Manunggal Multi Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Coalindo Energy - Indonesia
- Latin American Coal - Colombia
- Riau Bara Harum - Indonesia
- IEA Clean Coal Centre - UK
- Indian Energy Exchange, India
- Videocon Industries ltd - India
- Petron Corporation, Philippines
- Marubeni Corporation - India
- Deloitte Consulting - India
- Kartika Selabumi Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- ICICI Bank Limited - India
- Borneo Indobara - Indonesia
- Indian Oil Corporation Limited
- Bulk Trading Sa - Switzerland
- Aboitiz Power Corporation - Philippines
- Tamil Nadu electricity Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GN Power Mariveles Coal Plant, Philippines
- Energy Link Ltd, New Zealand
- Semirara Mining Corp, Philippines
- Mjunction Services Limited - India
- South Luzon Thermal Energy Corporation
- Rashtriya Ispat Nigam Limited - India
- Interocean Group of Companies - India
- Bukit Baiduri Energy - Indonesia
- The University of Queensland
- SMG Consultants - Indonesia
- Heidelberg Cement - Germany
- Essar Steel Hazira Ltd - India
- Gujarat Sidhee Cement - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Dalmia Cement Bharat India
- Xindia Steels Limited - India
- Parry Sugars Refinery, India
- Petrochimia International Co. Ltd.- Taiwan
- Grasim Industreis Ltd - India
- Anglo American - United Kingdom
- TeaM Sual Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meenaskhi Energy Private Limited - India
- Merrill Lynch Commodities Europe
- Tata Chemicals Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Independent Power Producers Association of India
- Jaiprakash Power Ventures ltd
- Wilmar Investment Holdings
- Maharashtra Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ASAPP Information Group - India
- Chettinad Cement Corporation Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Central Java Power - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Eastern Energy - Thailand
- Coastal Gujarat Power Limited - India
- The Treasury - Australian Government
- Timah Investasi Mineral - Indoneisa
- Vedanta Resources Plc - India
- Asmin Koalindo Tuhup - Indonesia
- Standard Chartered Bank - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Mining Services - Indonesia
- Indika Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Iligan Light & Power Inc, Philippines
- Ministry of Finance - Indonesia
- Chamber of Mines of South Africa
- Bhushan Steel Limited - India
- Mercuria Energy - Indonesia
- Goldman Sachs - Singapore
- Salva Resources Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Bharathi Cement Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- San Jose City I Power Corp, Philippines
- Planning Commission, India
- Miang Besar Coal Terminal - Indonesia
- Baramulti Group, Indonesia
- Globalindo Alam Lestari - Indonesia
- McConnell Dowell - Australia
- Siam City Cement - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Sical Logistics Limited - India
- PNOC Exploration Corporation - Philippines
- Bangladesh Power Developement Board
- Star Paper Mills Limited - India
- Carbofer General Trading SA - India
- Global Business Power Corporation, Philippines
- Ministry of Mines - Canada
- Barasentosa Lestari - Indonesia
- Edison Trading Spa - Italy
- Central Electricity Authority - India
- Georgia Ports Authority, United States
- Aditya Birla Group - India
- Sojitz Corporation - Japan
- Maheswari Brothers Coal Limited - India
- India Bulls Power Limited - India
- Electricity Authority, New Zealand
- Coal and Oil Company - UAE
- Commonwealth Bank - Australia
- Neyveli Lignite Corporation Ltd, - India
- White Energy Company Limited
- Jindal Steel & Power Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- IHS Mccloskey Coal Group - USA
- Africa Commodities Group - South Africa
- Indonesian Coal Mining Association
- Toyota Tsusho Corporation, Japan
- Ind-Barath Power Infra Limited - India
- Mintek Dendrill Indonesia
- Semirara Mining and Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Australian Coal Association
- Agrawal Coal Company - India
- Vizag Seaport Private Limited - India
- Renaissance Capital - South Africa
- Sarangani Energy Corporation, Philippines
- Electricity Generating Authority of Thailand
- Australian Commodity Traders Exchange
- Sakthi Sugars Limited - India
- The State Trading Corporation of India Ltd
- Binh Thuan Hamico - Vietnam
- Meralco Power Generation, Philippines
- Sindya Power Generating Company Private Ltd
- Krishnapatnam Port Company Ltd. - India
- Uttam Galva Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- PTC India Limited - India
- Larsen & Toubro Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Attock Cement Pakistan Limited
- Mercator Lines Limited - India
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