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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
INDONESIA'S FIRST PRIVATE RAILWAY TO BOOST RAK'S MINING INTERESTS
MEC infra to invest $1b in construction of 130-km transport link
A 130-kilometre railway that will ease the transport of raw materials and finish ...
Tuesday, 15 December 09
KOMIPO HAS ISSUED A NEW TENDER FOR 30000 MT OF 5200 NAR KCAL/KG COAL
COALspot.com (South Korea): South Korean state-owned utility Korea Midland Power (KOMIPO) has issued an new tender for prompt supply of 30000 M ...
Tuesday, 15 December 09
CHINA CUTS IMPORT DUTIES ON COAL, RAISES FOR OTHERS
China will lower import duties on more than 600 products next year, including coal, naphtha and phosphate ore, the Finance Ministry said on Tuesday. ...
Tuesday, 15 December 09
NTPC'S COAL WOES UNLIKELY TO END SOON
State-owned power producer NTPC’s woes over shortages of coal may not end soon. Though the company is importing 12.5 million tonnes of coal&nb ...
Monday, 14 December 09
RICHARDS BAY COAL TO FINISH EXPANSION IN 1ST QUARTER
Richards Bay Coal Terminal, which ships more than a quarter of Europe’s energy coal, said it will complete its Phase 5 expansion project in th ...
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- Parry Sugars Refinery, India
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- Petron Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Directorate Of Revenue Intelligence - India
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- European Bulk Services B.V. - Netherlands
- Kumho Petrochemical, South Korea
- TNB Fuel Sdn Bhd - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- Singapore Mercantile Exchange
- Mercator Lines Limited - India
- Parliament of New Zealand
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- Straits Asia Resources Limited - Singapore
- Kartika Selabumi Mining - Indonesia
- The University of Queensland
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- Barasentosa Lestari - Indonesia
- Cement Manufacturers Association - India
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- Electricity Authority, New Zealand
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- Rio Tinto Coal - Australia
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- Indogreen Group - Indonesia
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- Sojitz Corporation - Japan
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- Edison Trading Spa - Italy
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- Africa Commodities Group - South Africa
- Intertek Mineral Services - Indonesia
- Eastern Coal Council - USA
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- GAC Shipping (India) Pvt Ltd
- Trasteel International SA, Italy
- White Energy Company Limited
- Anglo American - United Kingdom
- ICICI Bank Limited - India
- Ministry of Transport, Egypt
- Energy Link Ltd, New Zealand
- Madhucon Powers Ltd - India
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- Planning Commission, India
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- Ceylon Electricity Board - Sri Lanka
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- Vedanta Resources Plc - India
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- MS Steel International - UAE
- Global Business Power Corporation, Philippines
- Ministry of Mines - Canada
- Malabar Cements Ltd - India
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- Electricity Generating Authority of Thailand
- Sarangani Energy Corporation, Philippines
- Goldman Sachs - Singapore
- Global Coal Blending Company Limited - Australia
- IHS Mccloskey Coal Group - USA
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- Mercuria Energy - Indonesia
- Coal and Oil Company - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kideco Jaya Agung - Indonesia
- New Zealand Coal & Carbon
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- Therma Luzon, Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Kepco SPC Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Indian Oil Corporation Limited
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- Essar Steel Hazira Ltd - India
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- Mjunction Services Limited - India
- Energy Development Corp, Philippines
- CNBM International Corporation - China
- GMR Energy Limited - India
- Indonesian Coal Mining Association
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- Pipit Mutiara Jaya. PT, Indonesia
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- Central Java Power - Indonesia
- Videocon Industries ltd - India
- Larsen & Toubro Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
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- PNOC Exploration Corporation - Philippines
- Vizag Seaport Private Limited - India
- Bukit Makmur.PT - Indonesia
- The Treasury - Australian Government
- Sindya Power Generating Company Private Ltd
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- Medco Energi Mining Internasional
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- Sical Logistics Limited - India
- Ind-Barath Power Infra Limited - India
- VISA Power Limited - India
- Samtan Co., Ltd - South Korea
- ASAPP Information Group - India
- Bulk Trading Sa - Switzerland
- Commonwealth Bank - Australia
- Chamber of Mines of South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Price Waterhouse Coopers - Russia
- Metalloyd Limited - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Deloitte Consulting - India
- Marubeni Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Tamil Nadu electricity Board
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- Posco Energy - South Korea
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- South Luzon Thermal Energy Corporation
- The State Trading Corporation of India Ltd
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- Oldendorff Carriers - Singapore
- Indo Tambangraya Megah - Indonesia
- Bangladesh Power Developement Board
- Merrill Lynch Commodities Europe
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- PetroVietnam Power Coal Import and Supply Company
- Jindal Steel & Power Ltd - India
- IEA Clean Coal Centre - UK
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Energy Exchange, India
- Australian Commodity Traders Exchange
- Coastal Gujarat Power Limited - India
- Thiess Contractors Indonesia
- Power Finance Corporation Ltd., India
- Heidelberg Cement - Germany
- Bhoruka Overseas - Indonesia
- Ministry of Finance - Indonesia
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- Timah Investasi Mineral - Indoneisa
- Economic Council, Georgia
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- International Coal Ventures Pvt Ltd - India
- Romanian Commodities Exchange
- Jorong Barutama Greston.PT - Indonesia
- Wood Mackenzie - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Renaissance Capital - South Africa
- Standard Chartered Bank - UAE
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- Leighton Contractors Pty Ltd - Australia
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- London Commodity Brokers - England
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- Dalmia Cement Bharat India
- Binh Thuan Hamico - Vietnam
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