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Sunday, 14 March 10
CHINESE COAL PRICE MAY RISE TO TRADE NEAR SPOT, MACQUARIE SAYS


Bloomberg reported that, Steel mills in China, the world’s biggest producer of the alloy, may pay more for domestic coking coal this year as demand increases, Macquarie Group Ltd. said.

Chinese coking coal may rise to $200 a ton in the next quarter, Macquarie analysts led by Bonnie Liu said in a research report. Domestic coal has traded at a $15- to $25-a-ton discount to the spot market price since December, the analysts said, a gap they expect will narrow.

BHP Billiton Ltd., the world’s biggest mining company, agreed last week to a three-month contract to sell coking coal at $200 a metric ton to JFE Holdings Inc. The price indicates a “very tight market” for 2010, Liu said.

“We would expect the Chinese domestic price to edge upward imminently,” she said.

Coal imported into China has fewer impurities than domestic output and attracts a premium price, she said. This premium is making import sales more difficult, and imports may decline to an annualized rate of between 40 million tons and 45 million tons in the next quarter, down from a rate of 60 million tons a year set in January, she said.
Source:
Bloomberg - By Rebecca Keenan



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Friday, 26 February 10
BANPU PROFITS SURGE BY 54% TO RECORD B14BN ON BRISK SALES
Banpu Plc, Asean's largest coal miner, said its earnings surged to a record high of 14.23 billion baht last year, an increase of 54% on the previou ...


Thursday, 25 February 10
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Thursday, 25 February 10
STEEP RISE IN COAL IMPORTS REQUIRED TO POWER INDIA - MONEYLIFE
The power ministry has estimated coal imports of 48 million tonnes in FY10-11, sharply higher than the expected imports of 28mt in the current fisca ...


Wednesday, 24 February 10
CHINA IMPORTED 8.81 MLN TONS OF INDONESIAN COAL IN JANUARY 2010
COALspot.com: Indonesia, the world largest coal exporter, exported 24.38 million tons of coal last month, compared with 27.46 million tons in a ...


Tuesday, 23 February 10
TRENDS..... DRY BULK MARKET .... TRENDS
The dry bulk market was pulled along by the Capes this week, as fresh enquiry breathed temporary life back into the market. Short period rates also ...


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