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Thursday, 11 March 10
COAL PRICES SET TO RISE AMID CONFUSION OVER QUARTERLY SYSTEM
 Trading room reported that, Coal prices are tipped to rise in coming months amid constrained supply and ongoing Chinese demand, and analysts are confused about whether a quarterly pricing system for coking coal will be permanently adopted.
Analysts expect coal pricing will be a lot more complicated in the 2010 Japanese financial year (JFY) starting April 1, when quarterly pricing for hard coking coal will be used for the first time.
The BHP Billiton Mitsubishi Alliance (BMA) has secured quarterly pricing for a significant portion of its hard coking coal volumes in JFY2010, understood to be starting at $US200 a tonne, RBS Morgans Ltd said in a research note on Thursday.
Patersons analyst Andrew Harrington said it remains to be seen whether quarterly pricing for coking coal will continue thereafter.
"You normally only have annual pricing settlements and this year, you've got a very big push and it looks like a successful push from BHP Billiton to get quarterly pricing," Mr Harrington told AAP.
"I was very sceptical that they would be able to succeed at that.
"There is very little liquidity in the spot market - there's very little trading in the spot market for coking coal - so I find it a little bit hard to understand how they would be able to get a quarterly marker from which to base the pricing every quarter.
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“coal pricing will be a lot more complicated in the 2010 Japanese financial year (JFY) starting April 1, when quarterly pricing for hard coking coal will be used for the first time”
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"The question remains as to whether this has been accepted for the future. "A quarterly system might still be under serious debate.
"It may be that a year from now, things will look just as confused. "This year is a completely different year from any other year in the coking coal market."
BHP Billiton has also long pushed for quarterly iron ore pricing. RBS Morgans said detail on BHP Billiton's quarterly coking coal pricing arrangement was limited, but it expected some independent producers to follow BMA's lead.
This "would lead to more variability in achieved earnings than we are used to" the broker said.
RBS Morgans expects a base case of $US220 per tonne for hard coking coal on an annual basis. Mr Harrington said he expected hard coking coal would cost US$200 a tonne for the quarter from April 1 to June 30.
"But there have been rumours that annual pricing into Japan is at a higher level. "The number I've heard is $US240 a tonne." Coking coal was priced at $US128 a tonne in JFY2009.
Source: Trading Room By Rebecca Le May
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Tuesday, 16 February 10
KPMG PENS 6-POINT STRATEGY FOR COAL INDIA RESTRUCTURING
Coal India Ltd (CIL) has appointed KPMG Advisory Services Pvt Ltd to advise on consolidating its position as the country’s prime energy provid ...
Monday, 15 February 10
MINING LAW TO BE REVISED
Law No. 4 of 2009 on mineral and coal mining will be revised after a working visit of the Bangka Belitung (Babel) Provincial legislative assembly (D ...
Monday, 15 February 10
EURO COAL PRICES SOFTEN AS CHINESE LUNAR NEW YEAR HOLIDAYS START
Prices of prompt cargoes of coal for delivery into Europe weakened last week on a lack of European demand and market nerves over the possible impact ...
Monday, 15 February 10
INDONESIAN COAL SUFFERS SETBACK AS SUMATRA RAIL LINE HELD UP AGAIN
State-owned coal miner PT Tambang Batubara Bukit Asam’s $1.06 billion rail project in Sumatra faces more delays, and the cost of the project i ...
Monday, 15 February 10
MEC INFRA TO COMMISSION INDONESIA RAIL PROJECT
A joint venture between Ras Al Khaimah Investment Authority (Rakia) RAK Investment Authority and Minerals Energy and Commodities Holdings, a f ...
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- Leighton Contractors Pty Ltd - Australia
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- Indian Oil Corporation Limited
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- Price Waterhouse Coopers - Russia
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- Sakthi Sugars Limited - India
- Tata Chemicals Ltd - India
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- Economic Council, Georgia
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- Banpu Public Company Limited - Thailand
- Parliament of New Zealand
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- The Treasury - Australian Government
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- Billiton Holdings Pty Ltd - Australia
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- Timah Investasi Mineral - Indoneisa
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- SMC Global Power, Philippines
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- MS Steel International - UAE
- Planning Commission, India
- International Coal Ventures Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
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- Eastern Energy - Thailand
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- Aboitiz Power Corporation - Philippines
- Madhucon Powers Ltd - India
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- Global Green Power PLC Corporation, Philippines
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- PTC India Limited - India
- Energy Link Ltd, New Zealand
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- The University of Queensland
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- Bayan Resources Tbk. - Indonesia
- South Luzon Thermal Energy Corporation
- Trasteel International SA, Italy
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- TeaM Sual Corporation - Philippines
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- Merrill Lynch Commodities Europe
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- Kohat Cement Company Ltd. - Pakistan
- Romanian Commodities Exchange
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- Kumho Petrochemical, South Korea
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- Meralco Power Generation, Philippines
- Directorate Of Revenue Intelligence - India
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- Cement Manufacturers Association - India
- Australian Coal Association
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- Ministry of Transport, Egypt
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- Karbindo Abesyapradhi - Indoneisa
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- Global Business Power Corporation, Philippines
- Indika Energy - Indonesia
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- Tamil Nadu electricity Board
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- Kapuas Tunggal Persada - Indonesia
- White Energy Company Limited
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