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Saturday, 26 December 09
COKING COAL PRICES MAY RISE BY 10 - 15% FROM APRIL 2010
 The price of coking coal, one of the key raw materials for steel production, is likely to increase by 10-15% in next April, the month in which majority of steel makers sign long-term agreement with suppliers, said senior executives of two large steel companies.
This, in turn, would increase the production cost and may adversely affect the bottom-line of steel producers unless they pass on the incremental cost to the consumers, said a senior executive of a leading steel maker.
There are couple of reasons for the price rise, said JSW Steel joint managing director Seshagiri Rao. “Due to economic crisis of 2008, many mines in Australia, which are dominant in coking coal, have shut down. This has resulted in sharp decline in supply of coking coal in comparison to early 2007,” he said. Domestic steel producers largely import coking coal from Australia.
In addition to the supply constraint, demand for coking coal from China, which was so far going slow on steel production, has again picked up, Rao said.
Due to the global economic slowdown, coking coal prices (long term and spot) had come down to less than half in April 2009 in comparison to the previous year. In April 2009, domestic steel makers had entered into long term agreement with overseas suppliers for coking coal at around $130 per tonne as against $300 per tonne in the previous year.
The spot price for the coking coal have come down to $180/tonne from a high of $400/tonne in April 2008. Spot prices of coking coal have, however, again started moving up.
As a result, steel producers such as Steel Authority of India (Sail), Tata Steel and JSW may land up signing long term agreements for coking coal at around $145-150 per tonne in April when these long term agreements will come for renewal.
“Indications show that there could be a marginal hike in long-term contracts’ prices for coking coal next year. The prices hike will also bridge the vast gap between long term and spot market prices,” said a senior SAIL executive. India’s largest steel maker Sail consumes 10 million tonne of coking coal every year and is largely dependant on Australia and the US for imports.
JSW Steel consumed 4.5 million tonne of coking coal this year and the requirement will further go up to 5 million tonne next year.
Source: Economic Times
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Sunday, 03 January 10
BHP TO STAY IN MARUWAI AND TO KEEP 75 PERCENT OF THE STAKE
Despite recent statements that it would pull out completely from Indonesia, the world's largest mining company BHP Billiton has now admitted that i ...
Saturday, 02 January 10
INDONESIAS COAL OUTPUT RISES BY 5%
Indonesia, Asia’s largest coal exporter, produced 254 million tons of coal in 2009, a 5.8 percent increase from 2008 and well ahead of the gov ...
Saturday, 02 January 10
TAIPOWER FORECASTS COAL DEMAND TO SNAP DECLINE
Taiwan Power Co., Asia's biggest importer of thermal coal, expects its demand for the fuel to rise in 2010 after falling for two years as the islan ...
Friday, 01 January 10
COAL INDIA TO START IMPORTING DIRECTLY
According to sources, the coal major has already finalised tender document to import four million tonnes thermal grade coal for supplies to NTPC. Th ...
Thursday, 31 December 09
INDONESIA SEES 2010 MINING INVESTMENT UP 39 PCT
Reuters reported that, Indonesian mining investment is expected to hit $2.5 billion next year, up from $1.81 billion in 2009, supported by greater c ...
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- Salva Resources Pvt Ltd - India
- Renaissance Capital - South Africa
- Indian Oil Corporation Limited
- Energy Link Ltd, New Zealand
- Toyota Tsusho Corporation, Japan
- Kapuas Tunggal Persada - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Interocean Group of Companies - India
- Straits Asia Resources Limited - Singapore
- Lanco Infratech Ltd - India
- Kartika Selabumi Mining - Indonesia
- McConnell Dowell - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Agrawal Coal Company - India
- Ambuja Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Mercuria Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Videocon Industries ltd - India
- Sinarmas Energy and Mining - Indonesia
- Bangladesh Power Developement Board
- Georgia Ports Authority, United States
- Barasentosa Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Baramulti Group, Indonesia
- Meralco Power Generation, Philippines
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- Directorate Of Revenue Intelligence - India
- Medco Energi Mining Internasional
- Sarangani Energy Corporation, Philippines
- SMG Consultants - Indonesia
- Bhoruka Overseas - Indonesia
- Savvy Resources Ltd - HongKong
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- Chamber of Mines of South Africa
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- Uttam Galva Steels Limited - India
- Parliament of New Zealand
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- Heidelberg Cement - Germany
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- IHS Mccloskey Coal Group - USA
- Therma Luzon, Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Dalmia Cement Bharat India
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- Kohat Cement Company Ltd. - Pakistan
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- Economic Council, Georgia
- Oldendorff Carriers - Singapore
- Mintek Dendrill Indonesia
- Goldman Sachs - Singapore
- Rio Tinto Coal - Australia
- Central Java Power - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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- Gujarat Mineral Development Corp Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- White Energy Company Limited
- Attock Cement Pakistan Limited
- Bulk Trading Sa - Switzerland
- Petrochimia International Co. Ltd.- Taiwan
- GAC Shipping (India) Pvt Ltd
- IEA Clean Coal Centre - UK
- Leighton Contractors Pty Ltd - Australia
- Tamil Nadu electricity Board
- Orica Mining Services - Indonesia
- Larsen & Toubro Limited - India
- Miang Besar Coal Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Indika Energy - Indonesia
- The University of Queensland
- Orica Australia Pty. Ltd.
- Africa Commodities Group - South Africa
- Planning Commission, India
- Thai Mozambique Logistica
- Mjunction Services Limited - India
- Singapore Mercantile Exchange
- Borneo Indobara - Indonesia
- Siam City Cement - Thailand
- Ceylon Electricity Board - Sri Lanka
- Wilmar Investment Holdings
- CIMB Investment Bank - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- Thiess Contractors Indonesia
- Ind-Barath Power Infra Limited - India
- Malabar Cements Ltd - India
- ICICI Bank Limited - India
- Coastal Gujarat Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Semirara Mining Corp, Philippines
- Standard Chartered Bank - UAE
- Sakthi Sugars Limited - India
- Kideco Jaya Agung - Indonesia
- Madhucon Powers Ltd - India
- Commonwealth Bank - Australia
- Power Finance Corporation Ltd., India
- Pendopo Energi Batubara - Indonesia
- Makarim & Taira - Indonesia
- Bhatia International Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ASAPP Information Group - India
- Manunggal Multi Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Eastern Energy - Thailand
- Intertek Mineral Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Petron Corporation, Philippines
- Ministry of Transport, Egypt
- Sojitz Corporation - Japan
- Independent Power Producers Association of India
- Holcim Trading Pte Ltd - Singapore
- Metalloyd Limited - United Kingdom
- Tata Chemicals Ltd - India
- Aboitiz Power Corporation - Philippines
- Global Business Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- South Luzon Thermal Energy Corporation
- Jindal Steel & Power Ltd - India
- International Coal Ventures Pvt Ltd - India
- Posco Energy - South Korea
- Rashtriya Ispat Nigam Limited - India
- Bukit Baiduri Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Grasim Industreis Ltd - India
- Global Coal Blending Company Limited - Australia
- Jaiprakash Power Ventures ltd
- New Zealand Coal & Carbon
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wood Mackenzie - Singapore
- Gujarat Sidhee Cement - India
- The Treasury - Australian Government
- Riau Bara Harum - Indonesia
- Ministry of Finance - Indonesia
- Aditya Birla Group - India
- London Commodity Brokers - England
- Eastern Coal Council - USA
- Romanian Commodities Exchange
- LBH Netherlands Bv - Netherlands
- Electricity Authority, New Zealand
- VISA Power Limited - India
- Sree Jayajothi Cements Limited - India
- Port Waratah Coal Services - Australia
- PowerSource Philippines DevCo
- Star Paper Mills Limited - India
- Globalindo Alam Lestari - Indonesia
- Xindia Steels Limited - India
- Indogreen Group - Indonesia
- Maheswari Brothers Coal Limited - India
- Binh Thuan Hamico - Vietnam
- Carbofer General Trading SA - India
- Jorong Barutama Greston.PT - Indonesia
- Simpson Spence & Young - Indonesia
- GVK Power & Infra Limited - India
- Merrill Lynch Commodities Europe
- India Bulls Power Limited - India
- Edison Trading Spa - Italy
- Meenaskhi Energy Private Limited - India
- Coalindo Energy - Indonesia
- Central Electricity Authority - India
- Essar Steel Hazira Ltd - India
- PTC India Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMC Global Power, Philippines
- Minerals Council of Australia
- Price Waterhouse Coopers - Russia
- Marubeni Corporation - India
- European Bulk Services B.V. - Netherlands
- Sindya Power Generating Company Private Ltd
- MS Steel International - UAE
- Deloitte Consulting - India
- Krishnapatnam Port Company Ltd. - India
- Ministry of Mines - Canada
- Australian Commodity Traders Exchange
- San Jose City I Power Corp, Philippines
- Sical Logistics Limited - India
- Iligan Light & Power Inc, Philippines
- Coal and Oil Company - UAE
- Bharathi Cement Corporation - India
- Indian Energy Exchange, India
- Samtan Co., Ltd - South Korea
- Banpu Public Company Limited - Thailand
- Kepco SPC Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Parry Sugars Refinery, India
- Australian Coal Association
- Cigading International Bulk Terminal - Indonesia
- Trasteel International SA, Italy
- TNB Fuel Sdn Bhd - Malaysia
- Mercator Lines Limited - India
- Indo Tambangraya Megah - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Formosa Plastics Group - Taiwan
- Indonesian Coal Mining Association
- Siam City Cement PLC, Thailand
- Vedanta Resources Plc - India
- Anglo American - United Kingdom
- Kaltim Prima Coal - Indonesia
- GMR Energy Limited - India
- Altura Mining Limited, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- CNBM International Corporation - China
- Bayan Resources Tbk. - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Antam Resourcindo - Indonesia
- Kumho Petrochemical, South Korea
- Cement Manufacturers Association - India
- Electricity Generating Authority of Thailand
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