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Tuesday, 12 May 09
CHINA MINERS CUT COAL PRICE OFFER TO JAPAN UTILITIES - ALIBABA.COM
.jpg) * Producers cut offer to $75.50 a tonne from over $80
* Negotiations may conclude soon as price gap narrows
* New offer at discount of about 43 percent from last year
Chinese coal miners such as Shenhua Energy and China Coal Ltd have cut 2009/10 contract price offers to Japanese utilities to $75.50 per tonne, trade sources familiar with talks said on Tuesday.
Chinese producers have lowered their prices to $75.50 a tonne for coal with a heating value of 5,800 kcal/kg (NAR) as negotiations hit a snag after Japanese utilities rejected their initial offer of above $80, four trade sources said.
"The negotiation is likely to conclude soon, as the difference between prices offered by the two sides is shrinking to only $3.5 a tonne," said a Beijing-based trader, expecting the deal to be sealed as early as next week.
Traders said the latest price offer by the Chinese was a bid to meet Japanese utilities midway, which have counter offered $72 a tonne, on the same level as the deal struck by Australian miners and Japan's Chubu Electric.
Last month, Chinese miners asked for a price above $80 while Japanese end users offered to pay $68 a tonne, traders said.
China's new offer represents a discount of about 43 percent from last year's agreed price of about $131 a tonne, which excludes the 10 percent export tax.
"It seems that the coordinators representing each country are trying to sound out how much each utility can afford to buy and how much each producer can afford to supply if the price falls to US$75.50/mt," said a Singapore-based trader.
China's coal exports in the first four months dropped 36 percent from a year earlier to 9.34 million tonnes, the official customs data showed.
Faced with an international market where prices are nearly $20 a tonne lower than domestic prices, Chinese miners are only showing lukewarm interest in the export market this year. Some miners expect domestic demand to pick up in the summer when residential consumption shoots up with rising temperatures and industrial use will likely revive as the economy improves.
Japan's utilities, represented by Japan Coal Development, are looking to cut this year's contract volumes by about 20 percent, a Tokyo-based trader said.
But others said the volumes could be cut as much as 50 percent.
Japan was China's second-largest coal export destination country in 2008, receiving 13 million tonnes from China, just after South Korea's 17 million tonnes.
Source: http://news.alibaba.com/article/detail/energy/100100838-1-update-1-china-miners-cut-coal.html
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Thursday, 12 March 09
ANALYSIS-FIRST NEW JAPAN COAL DEAL MAY NOT SET BENCHMARK - FOREXPROS.COM
* Informal coal-deal practice may come to an end this year
* Buyers expected to ask for a discount
* Biggest losers may be Chinese coal suppli ...
Thursday, 12 March 09
DEPARTMENT RECEIVES REPORT FROM GEOLOGICAL BODY AND NEDO - ESDM
The Geological Body of the Department of Energy and Mineral Resources have presented their Joint Study on Evaluation of Coal Resources and Reserves ...
Wednesday, 11 March 09
TENAGA SHARES CLIMB AS LOWER COAL PRICES CUT COSTS - BLOOMBERG
Bloomberg reported that, Tenaga Nasional Bhd., Malaysia’s state-controlled utility, climbed the most in a month in Kuala Lumpur trading as coal ...
Wednesday, 11 March 09
POSCO WINS 63% CUT IN PULVERIZED COAL PRICES, MACQUARIE SAYS - BLOOMBERG
Bloomberg reported that, Posco, Asia’s third-biggest steelmaker, has settled the first pulverized coal contracts for 2009 at $90 a metric ton ...
Wednesday, 11 March 09
COAL EXPORTERS FEEL THE CHILL FROM ASIAN DOWNTURN -BUSINESS.SMH.COM
Business.smh.com reproted that, The demand for thermal coal - NSW's most valuable export - has begun to reduce dramatically in response to the need ...
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