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Wednesday, 16 December 09
CHINA 2010 COAL TERM PRICES SEEN RISING 8% ON YEAR
Term prices of thermal coal for 2010 in China are expected to rise about 8 percent from this year's levels, as demand for power has been roaring back due to steady economic recovery, analysts and industry officials said.
But higher coal prices may bring a tough year for power plants, in the absence of power tariff hikes or pricing scheme reforms.
Six analysts surveyed by Reuters expect term prices for thermal coal, used in power generation, to rise between 5 and 20 percent from this year's levels, with consensus around 8 percent.
"I think an 8 to 10 percent rise would be reasonable, given the rapid climb in spot prices, as well as strong demand for coal and power," said Martin Wang, an analyst at Guotai Junan Securities in Hong Kong.
"Utilities, however, are facing a tough year. They might still be able to make a profit, after they've phased out the inefficient power generators. But the profit margin would vary from company to company."
Coal miners and power plants were in a stalemate over this year's term prices for months, before some power plants quietly accepted price hikes demanded by coal miners, as power consumption recovered and spot coal prices strengthened.
Spot thermal coal prices in Qinhuangdao, the country's top coal shipping port, rose nearly 30 percent from mid-September, when prices started to steadily climb.
Coal with calorific value of 5,500 kcal/kg (NAR) was quoted in the range of 730 yuan to 750 yuan ($106,9 - $109,9) a tonne, according to the Qinhuangdao Seaborne Coal Market.
The current price is about 37 percent higher than 540 yuan a tonne, the benchmark free-on-board term price offered by Shenhua, China's top coal producer.
Meanwhile, China's power generation in November rose 26,9 percent on the year, the fastest growth in nearly 4 years, as industrial activities continued to accelerate and cold weather spurred heating demand.
TOUGH YEAR AHEAD FOR UTILITIES
Power utilities, which just returned to profit this year due to lower coal prices, are again facing steep rises in production cost and coal miners with increasing negotiating power.
"There is an increasing monopoly in the coal industry, as the consolidation is pushing forward. But the power sector is still segmented," said an executive at a large power generating group.
China's five major power generating groups, including the parents of GD Power Development Co Ltd, China Power International, Datang International Power Generation Co Ltd, Huadian Power and Huaneng Power International, generate nearly half of national output.
"We can't do anything. If coal costs rise, we'll probably see sector-wise losses again," said the executive.
Beijing has cancelled the annual coal price negotiating conference and instead asked suppliers and users to complete deals within a month, while pledging to improve the power tariff pricing scheme and keep coal prices stable.
Source: Reuters / Mining weekly
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Monday, 17 August 09
COAL EXPORTS CONTINUE DESPITE SHORTAGE
Vietnam News reported that, Viet Nam is exporting more coal despite a warning from experts that the country could face a shortage of this fossil fue ...
Monday, 17 August 09
S.KOREA JULY COAL IMPORTS UP TO 8.97 MLN T
* Imports of heating coal in July up 3.7 percent on year
* LNG imports in July fall for seventh straight month
Alibaba reorted that, South Kore ...
Monday, 17 August 09
COAL INDIA PLANS A PRICE HIKE OF 11%
With the state-run CIL mining 84% of the coal produced in the country, an 11% increase will push up inflation by around 0.16%, the company said
L ...
Monday, 17 August 09
BANPU SEES INDONESIAN MINE OUTPUT UP 10 PCT IN 2010
Reuters reported that, Thailand's top coal miner, Banpu, said on Monday it expected coal output from its Indonesian mines to rise 10 percent to abo ...
Monday, 17 August 09
COAL IMPORTS SURGE IN H1
China is one of the world's leading coal producers. But even so, imports of coal have surged in the first half of the year, hitting a record in Jun ...
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- Intertek Mineral Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Billiton Holdings Pty Ltd - Australia
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- Siam City Cement - Thailand
- Global Green Power PLC Corporation, Philippines
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- Ministry of Transport, Egypt
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- Planning Commission, India
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- Chamber of Mines of South Africa
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- Bulk Trading Sa - Switzerland
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- Electricity Authority, New Zealand
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- Australian Coal Association
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- Independent Power Producers Association of India
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- Grasim Industreis Ltd - India
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- Singapore Mercantile Exchange
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- Samtan Co., Ltd - South Korea
- Lanco Infratech Ltd - India
- Directorate General of MIneral and Coal - Indonesia
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- Parliament of New Zealand
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- CNBM International Corporation - China
- Goldman Sachs - Singapore
- Dalmia Cement Bharat India
- Maharashtra Electricity Regulatory Commission - India
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- Eastern Energy - Thailand
- TeaM Sual Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Eastern Coal Council - USA
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- IHS Mccloskey Coal Group - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Antam Resourcindo - Indonesia
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- LBH Netherlands Bv - Netherlands
- Barasentosa Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Global Coal Blending Company Limited - Australia
- Mercator Lines Limited - India
- Petron Corporation, Philippines
- Riau Bara Harum - Indonesia
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- Coal and Oil Company - UAE
- Attock Cement Pakistan Limited
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- New Zealand Coal & Carbon
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- Commonwealth Bank - Australia
- Iligan Light & Power Inc, Philippines
- Sical Logistics Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Oldendorff Carriers - Singapore
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- Economic Council, Georgia
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- The State Trading Corporation of India Ltd
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- Tata Chemicals Ltd - India
- Baramulti Group, Indonesia
- Semirara Mining Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coalindo Energy - Indonesia
- MS Steel International - UAE
- Star Paper Mills Limited - India
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- SMG Consultants - Indonesia
- Price Waterhouse Coopers - Russia
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- Merrill Lynch Commodities Europe
- Sakthi Sugars Limited - India
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- Wilmar Investment Holdings
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- Kobexindo Tractors - Indoneisa
- Indian Oil Corporation Limited
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- Wood Mackenzie - Singapore
- Manunggal Multi Energi - Indonesia
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- Jindal Steel & Power Ltd - India
- Trasteel International SA, Italy
- Directorate Of Revenue Intelligence - India
- Savvy Resources Ltd - HongKong
- Energy Development Corp, Philippines
- Altura Mining Limited, Indonesia
- Thiess Contractors Indonesia
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- Petrochimia International Co. Ltd.- Taiwan
- Edison Trading Spa - Italy
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- Pendopo Energi Batubara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- The University of Queensland
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- PTC India Limited - India
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- Vedanta Resources Plc - India
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- Toyota Tsusho Corporation, Japan
- Power Finance Corporation Ltd., India
- Metalloyd Limited - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- Alfred C Toepfer International GmbH - Germany
- OPG Power Generation Pvt Ltd - India
- Australian Commodity Traders Exchange
- Ind-Barath Power Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Therma Luzon, Inc, Philippines
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