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Friday, 08 October 21
COAL SHORTAGE MAY LEAD TO RISE IN STEEL PRICES IN COMING MONTHS: JSPL MD - PTI
 Steel prices are expected to increase in the coming months as companies are buying coal at three times the rates a month ago, said a top industry executive on Wednesday.
A tonne of coal, which was in the range of Rs 4,000-6,000 a tonne, is now costing Rs 8,000-Rs 12,000 a tonne, Jindal Steel and Power Ltd (JSPL) Managing Director V R Sharma told PTI in a telephonic interaction.
He made the remarks while responding to a question related to the supply of coal in India.
“Steel in India at present is in the range of Rs 50,000-Rs 55,000 a tonne. Shortage of coal has led to an increase in its prices that will have an impact on steel which may also go up due to this unprecedented rise,” he said.
Sharma did not elaborate as to what extent the steel prices may go up in the future.
Sharma, who has over 35 years of industry experience, said India consumes 1,200 million tonnes of thermal coal or steam coal per year.
However, state-owned Coal India Ltd (CIL) produces 800 MT annually, a shortfall of 400 MT.
The domestic steel industry alone consumes 150 MT of coal per year, he said adding that for 120 MT or 80 per cent of the requirement, the players remain dependent on CIL. Steel players use coal as fuel to produce power to run plants and produce steel through the directly reduced iron (DRI) route.
“CIL is asking the players to come through e-auction to buy the coal. One month earlier, per mega/cal of coal was between 0.70 paise to Re 1. Yesterday (on Tuesday), it was at Rs 2.8 per mega/cal. Nearly three times higher,” Sharma said.
It means a tonne of coal, which was earlier in the range of Rs 4,000-6,000 per tonne, is now at Rs 8,000-Rs 12,000 per tonne, he added.
Sharma further said the crisis can be managed if CIL increased its production. The company must produce 100 MT coal per month to meet the annual demand of 1,200 MT, which comes from various industries like power, aluminium and copper.
India has coal reserves of 350 billion tonnes and CIL does not produce even one billion tonnes, he said.
“This is the best time for CIL to exceed the expectations of the country in this need of the hour. The increasing output will not only stabilise the prices but also reduce dependence on imports and make India Atmanirbhar in coal,” Sharma said.
Source: Press Trust of India
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Monday, 11 October 21
COAL ABANDONMENT IN POWER GENERATION PROMOTED GAS DEMAND GROWTH IN EUROPE - TOP MANAGER: TASS
Accelerated abandonment of coal in power generation and the overall recovery of economic activity facilitated gas demand growth in Europe and led t ...
Saturday, 09 October 21
CHINA POWER CUTS: COAL MINERS ORDERED TO BOOST OUTPUT, SAY REPORTS - BBC
Beijing has reportedly ordered China’s coal mines to boost output as an energy shortage across the country has seen millions of homes and bus ...
Friday, 08 October 21
SEPTEMBER CRUDE OIL TANKER DEMOLISHING HITS 39-MONTHS HIGH AT 1.9M DWT - PETER SAND
Has the lid finally come off for crude oil tanker demolition in 2021? If judged by the 1.9m DWT of capacity that was removed in September, the answ ...
Wednesday, 06 October 21
INDONESIA COAL PRICE REFERENCE: ANOTHER MONTH, ANOTHER RALLY
COALspot.com: Indonesian Coal Price Reference in a steep climb for most of second and third quarters of 2021 as it reached a pinnacle of $161.63 Oc ...
Wednesday, 06 October 21
EUROPEAN COAL FUTURES CLIMB TO 13-YEAR PEAK - REUTERS
European coal futures rose to a 13-year high and physical thermal coal prices were at record highs as rallying gas prices and strong Asian demand f ...
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- Australian Coal Association
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- Romanian Commodities Exchange
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- Meralco Power Generation, Philippines
- Binh Thuan Hamico - Vietnam
- Standard Chartered Bank - UAE
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- Global Green Power PLC Corporation, Philippines
- The University of Queensland
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- Merrill Lynch Commodities Europe
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- Ministry of Mines - Canada
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- Energy Link Ltd, New Zealand
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Therma Luzon, Inc, Philippines
- London Commodity Brokers - England
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- Uttam Galva Steels Limited - India
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- SN Aboitiz Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Kaltim Prima Coal - Indonesia
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- Gujarat Mineral Development Corp Ltd - India
- Indika Energy - Indonesia
- Riau Bara Harum - Indonesia
- CNBM International Corporation - China
- Ambuja Cements Ltd - India
- White Energy Company Limited
- SMC Global Power, Philippines
- Marubeni Corporation - India
- Toyota Tsusho Corporation, Japan
- Georgia Ports Authority, United States
- Directorate General of MIneral and Coal - Indonesia
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- Petrochimia International Co. Ltd.- Taiwan
- Pendopo Energi Batubara - Indonesia
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- McConnell Dowell - Australia
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- India Bulls Power Limited - India
- Siam City Cement PLC, Thailand
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- PNOC Exploration Corporation - Philippines
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- Minerals Council of Australia
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- Sojitz Corporation - Japan
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- Wood Mackenzie - Singapore
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- Metalloyd Limited - United Kingdom
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- Heidelberg Cement - Germany
- Indonesian Coal Mining Association
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- Indo Tambangraya Megah - Indonesia
- IEA Clean Coal Centre - UK
- International Coal Ventures Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Africa Commodities Group - South Africa
- Billiton Holdings Pty Ltd - Australia
- Posco Energy - South Korea
- Manunggal Multi Energi - Indonesia
- Agrawal Coal Company - India
- Orica Mining Services - Indonesia
- Lanco Infratech Ltd - India
- Interocean Group of Companies - India
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- MS Steel International - UAE
- Kohat Cement Company Ltd. - Pakistan
- Bulk Trading Sa - Switzerland
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- OPG Power Generation Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Vizag Seaport Private Limited - India
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- Edison Trading Spa - Italy
- ASAPP Information Group - India
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- Videocon Industries ltd - India
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- Eastern Coal Council - USA
- Globalindo Alam Lestari - Indonesia
- Electricity Authority, New Zealand
- Jindal Steel & Power Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Attock Cement Pakistan Limited
- Singapore Mercantile Exchange
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- Planning Commission, India
- Bangladesh Power Developement Board
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Tata Chemicals Ltd - India
- Mintek Dendrill Indonesia
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- Renaissance Capital - South Africa
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- Ceylon Electricity Board - Sri Lanka
- Semirara Mining Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Deloitte Consulting - India
- European Bulk Services B.V. - Netherlands
- The Treasury - Australian Government
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- Petron Corporation, Philippines
- Goldman Sachs - Singapore
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