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Wednesday, 09 September 09
CHINESE INTEREST IN AUSTRALIA COAL TICKS UP AS PRICES FALL
 After a lull of about two months, Australian thermal coal producers are now seeing renewed interest from Chinese buyers for spot cargoes in the fourth quarter amid a drop in coal prices, industry sources said.
Some analysts said China's demand for imported coal could increase further in coming months, as a recent wave of coal mine closures triggered by a mine explosion could raise domestic coal prices, making imports more attractive.
Australian producers said Chinese buyers were mostly seeking off-specification coal, with high heating value and ash content, for delivery through the rest of the year, while some buyers were also keen to book in shipments for delivery in early 2010.
However, at least three Australian producers said they had little of this high ash coal available to sell, after having sold large amounts of this type of coal to China over the second quarter.
"The economics look like the Chinese are now in favour of Australian coal, and there is also a notable pickup in enquiries from them on the back of freight easing and lower coal prices," a marketing executive at a large local coal mining firm said.
"But there's not much of those coal grades available now. And given the export constraints, producers would rather keep some spare tonnage as we head into winter months in the northern hemisphere, when prices are expected to go higher."
Australia's thermal coal prices on the globalCOAL Newcastle weekly index have fallen about 13 per cent since August to hover near a three and a half month low around $U66 a tonne, based on free-on-board (FOB) prices at the Newcastle port.
The globalCOAL benchmark price is based on coal with a heating value of 6,322 kcal/kg (GAR) and a maximum ash content of 15 per cent.
But high ash coal that the Chinese typically buy is much cheaper.
Some producers offer coal with 20 per cent ash content as low as about $US61, which takes its landed price into China to between $US90 and $US93 a tonne - compared with a domestic landed cost of around $US97 a tonne for coal with a heating value of 5,800 kcal/kg (NAR).
Analysts said Asian coal prices were poised for a rebound on the back of rising Chinese imports.
"Seaborne thermal coal prices may receive support in coming months following the closure of hundreds of small Chinese coal mines due to an accident," commodities analyst at the Commonwealth Bank of Australia David Moore said in a note.
In Indonesia, the world's largest exporter of thermal coal, producers and traders said China's renewed interest in imports had helped to soak up the market's excess supplies.
A surprising spell of dry weather, along with a drop in domestic coal demand, has resulted in a deluge of Indonesian coal and prompted producers in recent months to sell their supplies at very low margins amid stiff competition and tepid demand.
"Demand from Cina has improved over the past few weeks and that's helping to inject life into a market that would otherwise be struggling very hard to get by," one Indonesian producer said.
"The Chinese are also driving a hard bargain, but we're happy as long as we're able to sell the extra tonnes."
Another Indonesian producer said the firm had sold about 200,000 tonnes of sub-bituminous coal into China over the past month, with prices fixed at around $US45.50 a tonne FOB, based on coal with a heating value of 4,700 kcal/kg (NAR) and a maximum of five per cent ash.
In related news, The City of Pingdingshan in central China's Henan Province has ordered all 157 coal mine shafts within its district to close, after a mine explosion killed 35 people, Xinhua News Agency reported.
Source: Business Spectator
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Tuesday, 14 July 09
NEWCASTLE WEEKLY COAL EXPORTS RISE 11%; SHIP QUEUE DECREASES
Bloomberg reported that, Coal shipments from Australia’s Newcastle port, the world’s biggest export harbor for the fuel, gained 11 ...
Monday, 13 July 09
EXPORT COAL PRODUCTION FROM MOOIPLAATS COULD START IN NOVEMBER
Mining Weekly reported that, South Africa-focused emerging miner Coal of Africa (CoAL) has completed a revised mining layout for its Mooiplaats ...
Monday, 13 July 09
NAPOCOR AWARDS 195,000 T COAL TO INDONESIAN FIRMS
ABC-CBN News reported that, Philippine electricity producer National Power Corp (Napocor) has awarded 195,000 tons in coal supply contracts to two I ...
Monday, 13 July 09
PAKISTAN TO IMPORT ABOUT 2.4 MILLION TONS OF INDONESIAN COAL AND 1.6 MILLION TON OF SOUTH AFRICAN COAL WITHIN NEXT 12 MONTHS
COALspot.com (Pakistan) : Pakistan has exported well over 12 million tons of cement while local sales have dropped a bit with the result 33 million to ...
Monday, 13 July 09
COAL SECTOR IN VIETNAM INCREASE THE TARGET 43 MILLION TONNES THIS YEAR
Asian Mining Stock reported that, there was a change in a very good Coal Mining Industries Group (TKV) that Vietnam has decided to increase coa ...
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- Kartika Selabumi Mining - Indonesia
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- Bhatia International Limited - India
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- Thiess Contractors Indonesia
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- Economic Council, Georgia
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- Gujarat Mineral Development Corp Ltd - India
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- London Commodity Brokers - England
- Ministry of Mines - Canada
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- Georgia Ports Authority, United States
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- Barasentosa Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
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- Minerals Council of Australia
- Straits Asia Resources Limited - Singapore
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- Posco Energy - South Korea
- Baramulti Group, Indonesia
- Indonesian Coal Mining Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Leighton Contractors Pty Ltd - Australia
- The University of Queensland
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