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Thursday, 28 January 10
JAPAN STEELMAKERS OPPOSE QUARTERLY COAL CONTRACTS
Japanese steelmakers oppose miner BHP Billiton's attempt to switch to quarterly contracts from annual deals for supplying coal, as the change would not suit their clients in manufacturing, they said on Wednesday.
Stocks
The Japan Metal Daily on Tuesday reported that BHP Billiton, one of the world's biggest coal producers, was seeking a quarterly contract on coal in talks with Japanese steelmakers.
Their current annual contract expires on March 31.
Analysts say a quarterly contract will make it hard for Japanese steelmakers to fully pass on costs to user companies like carmakers and shipbuilders, who set sales prices annually.
| “The 40-year-old benchmark system is under threat after China rejected the miners' 2009/10 price settlement with Japan, opting to buy on the spot market” |
"We've heard there is a miner who favours a shorter contract period and that some Chinese steelmakers have not rejected the idea," Shoji Muneoka, chairman of the Japan Iron and Steel Federation, told a news conference.
"Chinese steelmakers produce a lot of construction steel, in which quarterly price changes are easier, but Japanese steelmakers supply 60-70 percent of their product to manufacturers, who wouldn't like quarterly cost fluctuations.
"We hope the miner honours the market situation, which is different from country to country."
BHP has been vocal in abandoning a benchmark system, in which the first price deal between a miner and a steelmaker sets a yardstick to be followed by the rest of the industry for a year.
The 40-year-old benchmark system is under threat after China rejected the miners' 2009/10 price settlement with Japan, opting to buy on the spot market.
Muneoka, also the president of the world's No.2 steelmaker, Nippon Steel Corp (5401.T), said the annual benchmark system has been supported by big steelmakers, including those in Japan, South Korea, Taiwan and Europe.
Source: Reuters
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Tuesday, 09 February 10
EURO COAL-PROMPT SLIDES WITH OIL PRICES
* April S.African cargo trades at $83.50/T FOB, unchanged
* April DES cargo trades at $74.75 a tonne, down $1/T
* Russia's Kuzbassrazrezugol sees ...
Monday, 08 February 10
BLACK RIDGE MINING APPOINTS INDEPENDENT CONSULTANT
Australian-listed Black Ridge Mining has announced the appointment of David Tuit as an independent consultant to assist with the assessment of the c ...
Monday, 08 February 10
SOUTH AFRICAN EXPORT COAL RISES FOR FIRST TIME IN FOUR WEEKS
Prices for coal shipped from South Africa’s Richards Bay, the continent’s biggest export facility for the fuel, posted their first gain ...
Monday, 08 February 10
NTPC HOPES TO START ON 500-MW PROJECT IN SRI LANKA BY FEB-END
NTPC sources told Business Standard, “All formalities from our government and NTPC have been completed.
The opinion of the Sri Lankan atto ...
Sunday, 07 February 10
AN AUSTRALIAN FIRM HAS SIGNED A $60BN DEAL TO SUPPLY COAL TO CHINESE POWER STATIONS
Clive Palmer, chairman of the company, Resourcehouse, said it was Australia's "biggest ever export contract".
Under the deal, the firm ...
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- Gujarat Electricity Regulatory Commission - India
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- Singapore Mercantile Exchange
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- TNB Fuel Sdn Bhd - Malaysia
- PNOC Exploration Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parry Sugars Refinery, India
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- Global Business Power Corporation, Philippines
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- SMG Consultants - Indonesia
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- Renaissance Capital - South Africa
- Bhatia International Limited - India
- ICICI Bank Limited - India
- Formosa Plastics Group - Taiwan
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- McConnell Dowell - Australia
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- Energy Development Corp, Philippines
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- Mjunction Services Limited - India
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- Economic Council, Georgia
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- SN Aboitiz Power Inc, Philippines
- Eastern Coal Council - USA
- Bukit Makmur.PT - Indonesia
- Indogreen Group - Indonesia
- Rio Tinto Coal - Australia
- Grasim Industreis Ltd - India
- Latin American Coal - Colombia
- Sarangani Energy Corporation, Philippines
- Wood Mackenzie - Singapore
- Siam City Cement - Thailand
- Ministry of Mines - Canada
- Vijayanagar Sugar Pvt Ltd - India
- Indonesian Coal Mining Association
- Antam Resourcindo - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Link Ltd, New Zealand
- Ministry of Finance - Indonesia
- Intertek Mineral Services - Indonesia
- Goldman Sachs - Singapore
- Georgia Ports Authority, United States
- Deloitte Consulting - India
- Agrawal Coal Company - India
- OPG Power Generation Pvt Ltd - India
- Indika Energy - Indonesia
- Heidelberg Cement - Germany
- AsiaOL BioFuels Corp., Philippines
- Anglo American - United Kingdom
- GMR Energy Limited - India
- Electricity Authority, New Zealand
- Parliament of New Zealand
- Oldendorff Carriers - Singapore
- Trasteel International SA, Italy
- Therma Luzon, Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Salva Resources Pvt Ltd - India
- Uttam Galva Steels Limited - India
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- IEA Clean Coal Centre - UK
- Thai Mozambique Logistica
- Ceylon Electricity Board - Sri Lanka
- India Bulls Power Limited - India
- Commonwealth Bank - Australia
- Riau Bara Harum - Indonesia
- Chettinad Cement Corporation Ltd - India
- Mintek Dendrill Indonesia
- Sical Logistics Limited - India
- Independent Power Producers Association of India
- Simpson Spence & Young - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Rashtriya Ispat Nigam Limited - India
- Altura Mining Limited, Indonesia
- Port Waratah Coal Services - Australia
- Gujarat Mineral Development Corp Ltd - India
- Global Coal Blending Company Limited - Australia
- Kumho Petrochemical, South Korea
- Interocean Group of Companies - India
- Power Finance Corporation Ltd., India
- European Bulk Services B.V. - Netherlands
- Essar Steel Hazira Ltd - India
- Wilmar Investment Holdings
- Kartika Selabumi Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- Posco Energy - South Korea
- Alfred C Toepfer International GmbH - Germany
- Minerals Council of Australia
- Kaltim Prima Coal - Indonesia
- Meralco Power Generation, Philippines
- Bulk Trading Sa - Switzerland
- The Treasury - Australian Government
- Kalimantan Lumbung Energi - Indonesia
- Malabar Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Edison Trading Spa - Italy
- Africa Commodities Group - South Africa
- Banpu Public Company Limited - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Australian Coal Association
- San Jose City I Power Corp, Philippines
- Price Waterhouse Coopers - Russia
- Petron Corporation, Philippines
- Orica Mining Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- PowerSource Philippines DevCo
- Samtan Co., Ltd - South Korea
- Chamber of Mines of South Africa
- Borneo Indobara - Indonesia
- Siam City Cement PLC, Thailand
- MS Steel International - UAE
- Eastern Energy - Thailand
- Baramulti Group, Indonesia
- Directorate Of Revenue Intelligence - India
- PTC India Limited - India
- Directorate General of MIneral and Coal - Indonesia
- GVK Power & Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- The University of Queensland
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- SMC Global Power, Philippines
- The State Trading Corporation of India Ltd
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- White Energy Company Limited
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- Standard Chartered Bank - UAE
- Merrill Lynch Commodities Europe
- Makarim & Taira - Indonesia
- Marubeni Corporation - India
- Larsen & Toubro Limited - India
- LBH Netherlands Bv - Netherlands
- Central Electricity Authority - India
- Miang Besar Coal Terminal - Indonesia
- Carbofer General Trading SA - India
- Kohat Cement Company Ltd. - Pakistan
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- Thiess Contractors Indonesia
- Metalloyd Limited - United Kingdom
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- Australian Commodity Traders Exchange
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- GAC Shipping (India) Pvt Ltd
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