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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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Wednesday, 16 December 09
COAL MARKETS 2010 CONFERENCE - PRESS RELEASE
COALspot.com (Singapore) Press Release – Back for the 8th year, Coal Markets 2010 will be taking place in Singapore on 28 – 29 Jan ...
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 ba ...
Wednesday, 16 December 09
KANGAROO RESOURCES TO ACQUIRE INDONESIAN COAL INTERESTS
Emerging coal producer Kangaroo Resources has significantly enhanced its production pipeline in Indonesia after reaching agreement to acquire a coki ...
Wednesday, 16 December 09
UAE'S RAS AL KHAIMAH TO INVEST $5.2B IN EAST KALIMANTAN PROJECT
Shrugging off neighbor Dubai’s debt problems, the smaller United Arab Emirate of Ras Al Khaimah announced on Tuesday that it would increase it ...
Wednesday, 16 December 09
COECLERICI EYES SECOND RUSSIA COAL MINE
* CEO says "seriously considering" mid-small size purchase
* Will use mine to increase exports to Asia
* Says delays at ports will not c ...
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- Asmin Koalindo Tuhup - Indonesia
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- Georgia Ports Authority, United States
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- Chamber of Mines of South Africa
- Banpu Public Company Limited - Thailand
- AsiaOL BioFuels Corp., Philippines
- Central Electricity Authority - India
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- Toyota Tsusho Corporation, Japan
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- Alfred C Toepfer International GmbH - Germany
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- Global Coal Blending Company Limited - Australia
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- Maheswari Brothers Coal Limited - India
- The Treasury - Australian Government
- Larsen & Toubro Limited - India
- Edison Trading Spa - Italy
- McConnell Dowell - Australia
- Samtan Co., Ltd - South Korea
- Trasteel International SA, Italy
- Petron Corporation, Philippines
- Orica Australia Pty. Ltd.
- Xindia Steels Limited - India
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- TNB Fuel Sdn Bhd - Malaysia
- MS Steel International - UAE
- Manunggal Multi Energi - Indonesia
- Directorate Of Revenue Intelligence - India
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- Parry Sugars Refinery, India
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- Siam City Cement PLC, Thailand
- Electricity Generating Authority of Thailand
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- Price Waterhouse Coopers - Russia
- Therma Luzon, Inc, Philippines
- Australian Coal Association
- Latin American Coal - Colombia
- Sical Logistics Limited - India
- Agrawal Coal Company - India
- Bhatia International Limited - India
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- Standard Chartered Bank - UAE
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- Independent Power Producers Association of India
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- Wilmar Investment Holdings
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- Economic Council, Georgia
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- Timah Investasi Mineral - Indoneisa
- Sojitz Corporation - Japan
- IEA Clean Coal Centre - UK
- Rio Tinto Coal - Australia
- Cement Manufacturers Association - India
- Bulk Trading Sa - Switzerland
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- GVK Power & Infra Limited - India
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- Heidelberg Cement - Germany
- Parliament of New Zealand
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- Romanian Commodities Exchange
- Goldman Sachs - Singapore
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- PTC India Limited - India
- Planning Commission, India
- Neyveli Lignite Corporation Ltd, - India
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- Bhoruka Overseas - Indonesia
- Eastern Coal Council - USA
- European Bulk Services B.V. - Netherlands
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- Holcim Trading Pte Ltd - Singapore
- Binh Thuan Hamico - Vietnam
- GMR Energy Limited - India
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- Directorate General of MIneral and Coal - Indonesia
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- Sakthi Sugars Limited - India
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- The University of Queensland
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