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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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Thursday, 24 December 09
EUROSEAS LTD. ANNOUNCES TWO-YEAR TIME CHARTER AGREEMENT FOR PANAMAX BULK CARRIER
Euroseas Ltd., an owner and operator of drybulk carriers and container vessels and provider of seaborne transportation for dry bulk and containerize ...
Wednesday, 23 December 09
INDONESIA POWER CHIEF TO BUILD PLANTS OUTSIDE JAVA
Indonesia's state electricity firm plans to build new power plants outside Java island with a combined capacity of around 2,000 megawatts to resolv ...
Wednesday, 23 December 09
BUKIT ASAM SEES CHINA COAL DEMAND BOOST
* Rebound in prices to have pushed up 2009 revs
* To more than double Tarahan port capacity
Reuters reported that, Indonesian state-owned coal m ...
Wednesday, 23 December 09
MACARTHUR COAL OFFERS TO BUY RIVAL GLOUCESTER
Queensland-based Macarthur Coal will offer to buy fellow Australian Gloucester Coal, in a move to add two new mines and increase coal resources.
...
Tuesday, 22 December 09
CHINA CONTRACTED COAL PRICE FOR 2010 SEES SLIGHT INCREASE
A number of coal and power enterprises have concluded their annual power-coal supply contracts for 2010, and the contracted coal price saw slight in ...
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- Edison Trading Spa - Italy
- Electricity Generating Authority of Thailand
- Dalmia Cement Bharat India
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- SN Aboitiz Power Inc, Philippines
- Ministry of Finance - Indonesia
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- Power Finance Corporation Ltd., India
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- Gujarat Electricity Regulatory Commission - India
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- Binh Thuan Hamico - Vietnam
- CNBM International Corporation - China
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- Medco Energi Mining Internasional
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- Bharathi Cement Corporation - India
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- Chamber of Mines of South Africa
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- PetroVietnam Power Coal Import and Supply Company
- Sojitz Corporation - Japan
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- Cement Manufacturers Association - India
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- GMR Energy Limited - India
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- Economic Council, Georgia
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- Agrawal Coal Company - India
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- Global Business Power Corporation, Philippines
- McConnell Dowell - Australia
- Toyota Tsusho Corporation, Japan
- Baramulti Group, Indonesia
- Karaikal Port Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Essar Steel Hazira Ltd - India
- Independent Power Producers Association of India
- Energy Development Corp, Philippines
- Coal and Oil Company - UAE
- Energy Link Ltd, New Zealand
- Kalimantan Lumbung Energi - Indonesia
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- Coastal Gujarat Power Limited - India
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- Parliament of New Zealand
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- Barasentosa Lestari - Indonesia
- Trasteel International SA, Italy
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- International Coal Ventures Pvt Ltd - India
- Electricity Authority, New Zealand
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- IEA Clean Coal Centre - UK
- Chettinad Cement Corporation Ltd - India
- The University of Queensland
- Kepco SPC Power Corporation, Philippines
- Port Waratah Coal Services - Australia
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- Petron Corporation, Philippines
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- PTC India Limited - India
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- The State Trading Corporation of India Ltd
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- Holcim Trading Pte Ltd - Singapore
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- Indonesian Coal Mining Association
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- Tamil Nadu electricity Board
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- Mintek Dendrill Indonesia
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- Meenaskhi Energy Private Limited - India
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- Directorate General of MIneral and Coal - Indonesia
- Straits Asia Resources Limited - Singapore
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- Wilmar Investment Holdings
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