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Monday, 05 October 09
SOUTH AFRICAN COAL RISES ON INDIAN BUYING, DOMESTIC DEMAND
 Bloomberg reported that, Prices for coal shipped from South Africa’s Richards Bay, site of the world’s largest export terminal for the fuel, rose for a second week on Indian buying and as rising domestic need potentially curbed supply.
Export prices at the port gained 60 cents, or 1 percent, to an average of $61.40 a metric ton in the week ended Oct. 2, according to McCloskey Group Ltd. They are 54 percent down for the past 12 months on weaker European power demand as companies cut jobs and output because of a recession. Demand may revive after Germany and France returned to growth. Europe gets more coal from South Africa than any other single source.
“Indians are still willing to buy,” Manqoba Madinane, an analyst at Standard Bank Group Ltd. in Johannesburg, said by phone. “There is also a sense of increased demand within the country, so I would suggest there’s probably less to export.”
South Africa’s electricity demand has returned to a level last seen before the recession, Business Report said today, citing Andrew Etzinger, spokesman for Eskom Holdings Ltd., the state-owned power utility. India, facing a coal shortfall, may increase imports to 60 million tons in the year ending March compared with 57 million tons a year earlier, N.C. Jha, a director at Coal India Ltd., told reporters in New Delhi today.
RBS Global Banking & Markets raised forecasts last week for thermal coal to generate power and coking coal to make steel, citing higher-than-expected production costs.
Thermal Coal
Thermal coal will sell for $75 a ton in the year ending March 31, 2011, up from a previous $70 estimate, Warren Edney, an analyst in Sydney, wrote in a report dated Oct. 1. Coking coal will sell at $150 in the period, 15 percent more than the earlier forecast, he said.
Richards Bay exported 5.59 million tons of coal in August, 5.9 percent more than a year earlier, the terminal said in an e- mailed response to questions on Sept. 3. At its current shipment rate, it will export 58.5 million tons of coal in 2009, compared with capacity of 76 million tons and shipments of 61.79 million tons last year.
The terminal is owned by South Africa’s largest coal exporters, including Anglo American Plc, BHP Billiton Ltd. and Xstrata Plc.
Power-station coal prices at the Australian port of Newcastle, a benchmark for Asia, rose 0.2 percent to $69.85 a ton in the week to Oct. 2, according to the globalCOAL NEWC Index. While Richards Bay is the world’s biggest coal-export terminal, Newcastle ships more of the fuel from two terminals.
Source: Bloomberg
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Wednesday, 04 November 09
BAKRIE MAY WIN BERAU COAL BID FROM ARMADIAN
The Bakrie group is likely to be selected as buyer of PT Berau Coal, the country’s fifth-largest coal producer, two people familiar with the m ...
Wednesday, 04 November 09
BINANI HOPES TO BUY INDONESIAN COAL MINE IN 2-3 MONTHS
"We are still negotiating, but hope to conclude the deal in the next two to three months," Binani Cement Managing Director Vinod Juneja to ...
Tuesday, 03 November 09
CHINA TO BE NET COAL IMPORTER IN 2009
China is accelerating its importation of coal to cope with fallen output caused by the consolidation of small coalmines, and is likely to become a n ...
Monday, 02 November 09
RIO TINTO WARNS ON CHEAP MONGOLIAN COAL
The Age reported that, Mining giant Rio Tinto has warned that cheap coal from Mongolia as well as congestion at the Port of Newcastle in NSW could u ...
Monday, 02 November 09
ESSAR SEEKS COAL ASSETS IN SOUTH AFRICA
Paguntaka reported that, Essar Group plans to acquire coal assets in South Africa to help boost its power business in India. A senior executive of E ...
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