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Monday, 26 January 15
OVERSUPPLY, AMPLE STOCKPILES, AND LACKLUSTER UNDERLYING STEEL DEMAND KEPT COKING COAL PRICES LOW IN 2014
 COALspot.com: Coking coal prices (FOB & CFR) fell 15% and 18% respectively during the year, amidst persistent oversupply, ample inventory and slower steel demand growth, says SGX Commodities 2014 Review.
According to SGX, spot prices remained depressed through 2014 as ‘take or pay’ continued to wreck havoc. Looking forward, deflationary pressures may hamper hopes of a near-term recovery, while policy changes have created further lingering uncertainties. Coking coal FOB & CFR prices declined 15.0% and 18.3% respectively during the first three months of the year, and remained relatively stable within a $10 per tonne range thereafter.
SGX’s commodities 2014 review further noted that, a combination of persistent oversupply, ample stockpiles within China, and lackluster underlying steel demand kept prices low through the year. In August 2014, SGX launched coking coal derivatives (FOB Australia & CFR China) in response to the increasing trend towards index-linked pricing across the industry.
A variety of factors have kept coking coal prices depressed for longer than many had previously forecast. Such factors include:
(i) a drive by major producers to lower unit costs by improving production efficiencies and increasing production (thereby also increasing market share);
(ii) ‘take or pay ’ rail commitments in Australia, often making it more economical to continue producing at a loss than to cease production (NB. Australia accounts for more than half of seaborne supply); and
(iii) cost deflation in the domestic Chinese coal industry.
Looking forward, SGX’s Commodities 2014 Review report says that, while many analysts have been calling a bottom in the coking coal price, the timing of any meaningful recovery remains far from clear. Supply cuts are indeed emerging. However, deflationary pressures such as falling resource currencies and a slump in oil prices may hinder the prospect of any significant recovery in the near-term. With a relatively flat cost curve, FX may also be an important variable.
Furthermore, there is uncertainty over the likely medium-term impact of the reduction in China’ s export tax on coking coal from 10% to 3% (effective 1 Jan 2015); Japanese and Korean mills used to procure coking coal from China and, while relative costs will be a factor, there may be a strategic argument to diversifying supply, SGX concluded.
SGX also launched coking coal derivatives in August 2014 in response to the increasing trend towards spot and index-linked pricing.
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Tuesday, 10 February 15
IRON ORE MARKET TO REMAIN OVERSUPPLIED IN 2015: PRICE FORECAST $70/T - WOOD MACKENZIE
COALspot.com: With January witnessing the price of iron ore falling to its lowest levels since May 2009, Roger Emslie, Principal Metals & ...
Tuesday, 10 February 15
SUB-BIT FOB INDONESIA COAL SWAP ADVANCES 3.79% WEEK ON WEEK
COALspot.com: Indonesian coal swaps for delivery Q2' 2015 rose week over week and month on month.
The Q2 swap up US$ 0.85 (+1.81%) month o ...
Tuesday, 10 February 15
FOB NEWCASTLE COAL SWAPS SURGE WEEK OVER WEEK, RAISING HOPES?
COALspot.com: API 5 FOB Newcastle Coal swap for Q2’ 2015 delivery rose US$ 0.95 per MT (+1.91%) week over week and declined US$ 0.06 (-0.12%) ...
Monday, 09 February 15
AUSTRALIAN COAL PRODUCERS BEST POSITIONED IN OVERSUPPLIED MARKET; US MINES MOST AT RISK - WOOD MACKENZIE
In a 2015 global coal outlook report, Wood Mackenzie says that Australia and Indonesian coal suppliers will see some upside in the difficult months ...
Monday, 09 February 15
FOB RICHARDS BAY COAL SWAP GAINS 3.65% TO ONE-MONTH HIGH
COALspot.com: API 4 FOB Richards Bay Coal swap for delivery Q2' 2015 surge month over month and day on day.
The Q2 swap has soared US$ 2.1 ...
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- Gujarat Mineral Development Corp Ltd - India
- Vedanta Resources Plc - India
- New Zealand Coal & Carbon
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Finance - Indonesia
- Samtan Co., Ltd - South Korea
- India Bulls Power Limited - India
- Siam City Cement - Thailand
- Edison Trading Spa - Italy
- Jorong Barutama Greston.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Star Paper Mills Limited - India
- Borneo Indobara - Indonesia
- Parry Sugars Refinery, India
- Aditya Birla Group - India
- White Energy Company Limited
- Formosa Plastics Group - Taiwan
- Savvy Resources Ltd - HongKong
- Medco Energi Mining Internasional
- Indogreen Group - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Trasteel International SA, Italy
- Indian Energy Exchange, India
- London Commodity Brokers - England
- Mercator Lines Limited - India
- Carbofer General Trading SA - India
- TeaM Sual Corporation - Philippines
- Renaissance Capital - South Africa
- Altura Mining Limited, Indonesia
- Bangladesh Power Developement Board
- Ministry of Mines - Canada
- Maheswari Brothers Coal Limited - India
- Orica Australia Pty. Ltd.
- Rashtriya Ispat Nigam Limited - India
- Cigading International Bulk Terminal - Indonesia
- McConnell Dowell - Australia
- Energy Development Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Indonesian Coal Mining Association
- San Jose City I Power Corp, Philippines
- Salva Resources Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dalmia Cement Bharat India
- Orica Mining Services - Indonesia
- Standard Chartered Bank - UAE
- PNOC Exploration Corporation - Philippines
- Makarim & Taira - Indonesia
- SMC Global Power, Philippines
- Krishnapatnam Port Company Ltd. - India
- European Bulk Services B.V. - Netherlands
- Coastal Gujarat Power Limited - India
- Kaltim Prima Coal - Indonesia
- Mintek Dendrill Indonesia
- Sindya Power Generating Company Private Ltd
- Ministry of Transport, Egypt
- Central Java Power - Indonesia
- The University of Queensland
- Merrill Lynch Commodities Europe
- Global Green Power PLC Corporation, Philippines
- Uttam Galva Steels Limited - India
- Madhucon Powers Ltd - India
- Energy Link Ltd, New Zealand
- GAC Shipping (India) Pvt Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Power Finance Corporation Ltd., India
- Indika Energy - Indonesia
- GVK Power & Infra Limited - India
- Heidelberg Cement - Germany
- Manunggal Multi Energi - Indonesia
- Thai Mozambique Logistica
- IEA Clean Coal Centre - UK
- Videocon Industries ltd - India
- PTC India Limited - India
- Central Electricity Authority - India
- Attock Cement Pakistan Limited
- Mercuria Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Georgia Ports Authority, United States
- Kalimantan Lumbung Energi - Indonesia
- Wood Mackenzie - Singapore
- Leighton Contractors Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Timah Investasi Mineral - Indoneisa
- Kideco Jaya Agung - Indonesia
- Meralco Power Generation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Bharathi Cement Corporation - India
- Barasentosa Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- Ambuja Cements Ltd - India
- Xindia Steels Limited - India
- Eastern Coal Council - USA
- Planning Commission, India
- Global Coal Blending Company Limited - Australia
- AsiaOL BioFuels Corp., Philippines
- Africa Commodities Group - South Africa
- Pendopo Energi Batubara - Indonesia
- Metalloyd Limited - United Kingdom
- Kumho Petrochemical, South Korea
- Singapore Mercantile Exchange
- Eastern Energy - Thailand
- Baramulti Group, Indonesia
- Economic Council, Georgia
- Goldman Sachs - Singapore
- Neyveli Lignite Corporation Ltd, - India
- VISA Power Limited - India
- Grasim Industreis Ltd - India
- Posco Energy - South Korea
- Lanco Infratech Ltd - India
- Chamber of Mines of South Africa
- Vizag Seaport Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Jindal Steel & Power Ltd - India
- Australian Commodity Traders Exchange
- Bhoruka Overseas - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Mjunction Services Limited - India
- SMG Consultants - Indonesia
- Marubeni Corporation - India
- LBH Netherlands Bv - Netherlands
- Semirara Mining Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- PowerSource Philippines DevCo
- Bulk Trading Sa - Switzerland
- Sakthi Sugars Limited - India
- Jaiprakash Power Ventures ltd
- Australian Coal Association
- Oldendorff Carriers - Singapore
- Bukit Baiduri Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Electricity Authority, New Zealand
- Malabar Cements Ltd - India
- Gujarat Sidhee Cement - India
- Antam Resourcindo - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Port Waratah Coal Services - Australia
- Tamil Nadu electricity Board
- International Coal Ventures Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Price Waterhouse Coopers - Russia
- The State Trading Corporation of India Ltd
- Karbindo Abesyapradhi - Indoneisa
- Banpu Public Company Limited - Thailand
- Rio Tinto Coal - Australia
- Gujarat Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- Latin American Coal - Colombia
- GN Power Mariveles Coal Plant, Philippines
- MS Steel International - UAE
- Straits Asia Resources Limited - Singapore
- Alfred C Toepfer International GmbH - Germany
- Coalindo Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Deloitte Consulting - India
- Bukit Makmur.PT - Indonesia
- Commonwealth Bank - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petron Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ICICI Bank Limited - India
- ASAPP Information Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Ind-Barath Power Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Interocean Group of Companies - India
- Parliament of New Zealand
- Cement Manufacturers Association - India
- Larsen & Toubro Limited - India
- Riau Bara Harum - Indonesia
- Bhushan Steel Limited - India
- Chettinad Cement Corporation Ltd - India
- The Treasury - Australian Government
- Directorate Of Revenue Intelligence - India
- Tata Chemicals Ltd - India
- Indian Oil Corporation Limited
- Minerals Council of Australia
- Romanian Commodities Exchange
- Siam City Cement PLC, Thailand
- Independent Power Producers Association of India
- Thiess Contractors Indonesia
- Sree Jayajothi Cements Limited - India
- SN Aboitiz Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- GMR Energy Limited - India
- Anglo American - United Kingdom
- Wilmar Investment Holdings
- Simpson Spence & Young - Indonesia
- Essar Steel Hazira Ltd - India
- Kartika Selabumi Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bhatia International Limited - India
- Agrawal Coal Company - India
- IHS Mccloskey Coal Group - USA
- PetroVietnam Power Coal Import and Supply Company
- Intertek Mineral Services - Indonesia
- Sojitz Corporation - Japan
- Bayan Resources Tbk. - Indonesia
- Coal and Oil Company - UAE
- CNBM International Corporation - China
- Meenaskhi Energy Private Limited - India
- Sical Logistics Limited - India
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