Sunday, 08 Jan 2012
Bloomberg reported that Power station coal prices at Australia Newcastle port an Asian benchmark fell 1% in the week ended today.
According to the globalCOAL NEWC Index coal prices at the New South Wales port decreased to USD 114.30 per tonne from USD 115.47 the previous week.
Xstrata Plc the world largest exporter of power station coal, BHP Billiton Ltd and Rio Tinto Group are among mining companies that ship coal through Newcastle.
(Sourced from Bloomberg)
Showing posts with label Asian benchmark. Show all posts
Showing posts with label Asian benchmark. Show all posts
Sunday, January 8, 2012
Sunday, December 25, 2011
Australia Newcastle Thermal coal rises 2pct
Sunday, 25 Dec 2011
Bloomberg reported that power station coal prices at Australia Newcastle port an Asian benchmark rose 2.3% in the week ended today.
According to the globalCOAL NEWC Index coal prices at the New South Wales port increased to USD 112.85 per ton from USD 110.28 the previous week.
Bloomberg reported that power station coal prices at Australia Newcastle port an Asian benchmark rose 2.3% in the week ended today.
According to the globalCOAL NEWC Index coal prices at the New South Wales port increased to USD 112.85 per ton from USD 110.28 the previous week.
Monday, December 19, 2011
Australia thermal coal dips to USD 110 per tonne
Monday, 19 Dec 2011
Reuters reported that Australia thermal coal prices, the benchmark for Asia slipped to around USD 110 per tonne in thin trading, although Chinese buyers were reportedly in the market for some cargoes next year.
Thermal coal on the global COAL Newcastle index for the week to date closed at USD 110.20 per tonne on Thursday down from USD 111.47 per tonne a week earlier. Despite the lower prices, there were reports that supplies from Australia Newcastle port were a little tight for very prompt delivery likely due to some producers overselling for December and January.
Australian thermal coal shipments from Newcastle port rose 34% in the week ended December 12 to 2.58 million tonnes while the vessel queue increased to 20 ships from 12 as some producers rushed to send out a few extra cargoes by the year end.
Chinese import demand for next year was seen picking up although sources said buyers were still not committing to large volumes.
Oe Sydney-based trade source said "It seems like we've seen a little timid term interest come from China."
In China, the domestic coal price benchmark was slightly lower at CNY 830 per tonne last week from CNY 840 the previous week.
(Sourced from Reuters)
Reuters reported that Australia thermal coal prices, the benchmark for Asia slipped to around USD 110 per tonne in thin trading, although Chinese buyers were reportedly in the market for some cargoes next year.
Thermal coal on the global COAL Newcastle index for the week to date closed at USD 110.20 per tonne on Thursday down from USD 111.47 per tonne a week earlier. Despite the lower prices, there were reports that supplies from Australia Newcastle port were a little tight for very prompt delivery likely due to some producers overselling for December and January.
Australian thermal coal shipments from Newcastle port rose 34% in the week ended December 12 to 2.58 million tonnes while the vessel queue increased to 20 ships from 12 as some producers rushed to send out a few extra cargoes by the year end.
Chinese import demand for next year was seen picking up although sources said buyers were still not committing to large volumes.
Oe Sydney-based trade source said "It seems like we've seen a little timid term interest come from China."
In China, the domestic coal price benchmark was slightly lower at CNY 830 per tonne last week from CNY 840 the previous week.
(Sourced from Reuters)
Saturday, December 17, 2011
Newcastle thermal coal declines to AUD 110 a tonne
Saturday, 17 Dec 2011
Bloomberg reported that power-station coal prices at Australia’s Newcastle port, an Asian benchmark, fell 1.1% in the week ended December 16th 2011.
According to the globalCOAL NEWC Index, coal prices at the New South Wales port declined to AUD 110.28 a metric ton from AUD 111.53 the previous week.
(Sourced from Bloomberg)
Bloomberg reported that power-station coal prices at Australia’s Newcastle port, an Asian benchmark, fell 1.1% in the week ended December 16th 2011.
According to the globalCOAL NEWC Index, coal prices at the New South Wales port declined to AUD 110.28 a metric ton from AUD 111.53 the previous week.
(Sourced from Bloomberg)
Sunday, December 11, 2011
Newcastle thermal coal rises to AUD 111 a tonne
Sunday, 11 Dec 2011
Bloomberg reported that power station coal prices at Australia’s Newcastle port, an Asian benchmark rose by 0.2% in the week ended December 9th 2011
According to the globalCOAL NEWC Index, coal prices at the New South Wales port advanced to AUD 111.53 a tonne from AUD 111.29 the previous week.
(Sourced from Bloomberg)
Bloomberg reported that power station coal prices at Australia’s Newcastle port, an Asian benchmark rose by 0.2% in the week ended December 9th 2011
According to the globalCOAL NEWC Index, coal prices at the New South Wales port advanced to AUD 111.53 a tonne from AUD 111.29 the previous week.
(Sourced from Bloomberg)
Tuesday, November 8, 2011
Newcastle thermal coal price drops to USD 116 a tonne
Tuesday, 08 Nov 2011
Bloomberg reported that power station coal prices at Australia’s Newcastle port an Asian benchmark, dropped by 0.8% in the week ended November 5th 2011.
According to the globalCOAL NEWC Index, coal prices at the New South Wales port declined to USD 116.94 a tonne from USD 117.89 the previous week.
(Sourced from Bloomberg)
Bloomberg reported that power station coal prices at Australia’s Newcastle port an Asian benchmark, dropped by 0.8% in the week ended November 5th 2011.
According to the globalCOAL NEWC Index, coal prices at the New South Wales port declined to USD 116.94 a tonne from USD 117.89 the previous week.
(Sourced from Bloomberg)
Sunday, October 9, 2011
Australia Newcastle thermal coal falls 1pct
Sunday, 09 Oct 2011
Bloomberg reported that Power station coal prices at Australia Newcastle port an Asian benchmark dropped 1.1% in the week ended today.
According to the globalCOAL NEWC Index coal prices at the New South Wales port declined to USD 121.14 per tonne from USD 122.54 the previous week.
Xstrata Plc the world largest exporter of power-station coal, BHP Billiton Ltd and Rio Tinto Group are among mining companies that ship coal through Newcastle.
(Sourced from Bloomberg)
Bloomberg reported that Power station coal prices at Australia Newcastle port an Asian benchmark dropped 1.1% in the week ended today.
According to the globalCOAL NEWC Index coal prices at the New South Wales port declined to USD 121.14 per tonne from USD 122.54 the previous week.
Xstrata Plc the world largest exporter of power-station coal, BHP Billiton Ltd and Rio Tinto Group are among mining companies that ship coal through Newcastle.
(Sourced from Bloomberg)
Friday, October 7, 2011
Australia Newcastle Thermal Coal Falls 1.1% to $121.14 a Ton
Fri,Oct 7, 2011
By Rajesh Kumar Singh
Power-station coal prices at Australia’s Newcastle port, an Asian benchmark, dropped 1.1 percent in the week ended today.
Coal prices at the New South Wales port declined to $121.14 a metric ton from $122.54 the previous week, according to the globalCOAL NEWC Index.
Xstrata Plc (XTA), the world’s largest exporter of power-station coal, BHP Billiton Ltd. (BHP) and Rio Tinto Group are among mining companies that ship coal through Newcastle.
(sourced bloomberg)
By Rajesh Kumar Singh
Power-station coal prices at Australia’s Newcastle port, an Asian benchmark, dropped 1.1 percent in the week ended today.
Coal prices at the New South Wales port declined to $121.14 a metric ton from $122.54 the previous week, according to the globalCOAL NEWC Index.
Xstrata Plc (XTA), the world’s largest exporter of power-station coal, BHP Billiton Ltd. (BHP) and Rio Tinto Group are among mining companies that ship coal through Newcastle.
(sourced bloomberg)
Saturday, October 1, 2011
Australia Newcastle thermal coal falls by 1pct
Saturday, 01 Oct 2011
Bloomberg reported that power station coal prices at Australia Newcastle port an Asian benchmark dropped 0.7% in the week ended today.
According to the globalCOAL NEWC Index coal prices at the New South Wales port declined to USD 122.54 per tonne from USD 123.42 the previous week.
Xstrata Plc the world largest exporter of power-station coal, BHP Billiton Ltd and Rio Tinto Group are among mining companies that ship coal through Newcastle.
(Sourced from Bloomberg)
Bloomberg reported that power station coal prices at Australia Newcastle port an Asian benchmark dropped 0.7% in the week ended today.
According to the globalCOAL NEWC Index coal prices at the New South Wales port declined to USD 122.54 per tonne from USD 123.42 the previous week.
Xstrata Plc the world largest exporter of power-station coal, BHP Billiton Ltd and Rio Tinto Group are among mining companies that ship coal through Newcastle.
(Sourced from Bloomberg)
Tuesday, August 16, 2011
Australia Newcastle thermal coal price at AUD 119 a tonne
Tuesday, 16 Aug 2011
According to the globalCOAL NEWC Index, Power station coal prices at Australia’s Newcastle port, an Asian benchmark, declined by 0.4% in the week ended August 15th 2011. Coal prices at the New South Wales port fell to AUD 119.74 a metric ton from AUD 120.26 the previous week.
(Sourced from Bloomberg)
According to the globalCOAL NEWC Index, Power station coal prices at Australia’s Newcastle port, an Asian benchmark, declined by 0.4% in the week ended August 15th 2011. Coal prices at the New South Wales port fell to AUD 119.74 a metric ton from AUD 120.26 the previous week.
(Sourced from Bloomberg)
Friday, May 27, 2011
Newcastle thermal coal price declines to AUD 116
Friday, 27 May 2011
Power-station coal prices at Australia’s Newcastle port, an Asian benchmark, declined 1.6% in the week ended May 20th 2011. Coal prices at the New South Wales port fell to AUD 116.80 a tonne from AUD 118.74 the previous week.
Xstrata Plc the world’s largest exporter of power station coal, BHP Billiton Ltd. and Rio Tinto Group are among mining companies that ship coal through Newcastle. (sourced Bloomberg)
Power-station coal prices at Australia’s Newcastle port, an Asian benchmark, declined 1.6% in the week ended May 20th 2011. Coal prices at the New South Wales port fell to AUD 116.80 a tonne from AUD 118.74 the previous week.
Xstrata Plc the world’s largest exporter of power station coal, BHP Billiton Ltd. and Rio Tinto Group are among mining companies that ship coal through Newcastle. (sourced Bloomberg)
Friday, April 29, 2011
Australia Newcastle Thermal Coal Rises 0.7% to $122.27 a Ton
Fri, Apr 29, 2011 6:22 PM GMT+0530
By Pratish Narayanan
Power-station coal prices at Australia’s Newcastle port, an Asian benchmark, increased 0.7 percent in the week ended today.
Coal prices at the New South Wales port rose to $122.27 a metric ton from $121.48 the previous week, according to the globalCOAL NEWC Index.
Xstrata Plc (XTA), the world’s largest exporter of power-station coal, BHP Billiton Ltd. (BHP) and Rio Tinto Group are among mining companies that ship coal through Newcastle. (By Bloomberg)
By Pratish Narayanan
Power-station coal prices at Australia’s Newcastle port, an Asian benchmark, increased 0.7 percent in the week ended today.
Coal prices at the New South Wales port rose to $122.27 a metric ton from $121.48 the previous week, according to the globalCOAL NEWC Index.
Xstrata Plc (XTA), the world’s largest exporter of power-station coal, BHP Billiton Ltd. (BHP) and Rio Tinto Group are among mining companies that ship coal through Newcastle. (By Bloomberg)
Monday, February 28, 2011
Ancora, Gudang Garam, Enseval Putera: Indonesia Equity Preview
Feb28,2011 7:17AM GMT+0530 By Berni Moestafa- Bloomberg
Shares of the following companies may have unusual moves in Indonesian trading. Stock symbols are in parentheses, and share prices are as of the previous close.
The Jakarta Composite index climbed 0.1 percent to 3,443.53.
Coal producers: Power-station coal prices at Australia’s Newcastle port, an Asian benchmark, rose 4 percent to $131.71 a metric ton in the week ended Feb. 25, according to the globalCOAL NEWC Index.
PT Bumi Resources (BUMI IJ), Asia’s largest exporter of power-station coal, gained 5.4 percent to 2,925 rupiah and PT Adaro Energy (ADRO IJ), Indonesia’s second-biggest coal mining company, advanced 1 percent to 2,475 rupiah.
PT Ancora Indonesia Resources (OKAS IJ): The producer of ammonium nitrate may invest $50 million to $100 million to buy a mine that produces low-quality coal, Investor Daily Indonesia reported, without saying where it obtained the information. Ancora was unchanged at 300 rupiah.
PT Bank Tabungan Pensiunan Nasional (BTPN IJ): Shareholders approved a plan for a five-for-one stock split to boost trading of the stock, the Indonesian bank said in a statement to the stock exchange. Bank Tabungan Pensiunan declined 2.5 percent to 11,950 rupiah.
PT Enseval Putera Megatrading (EPMT IJ): The pharmaceutical distribution company said it plans to raise 300 billion rupiah ($34 million) selling new shares in a rights offer in March. Enseval may sell as much as 428.6 million new shares at 700 rupiah apiece, it said. Enseval fell 5.3 percent to 900 rupiah when it last traded Feb. 21.
PT Gudang Garam (GGRM IJ): The Indonesian cigarette producer will pay an interim dividend of 400 rupiah a share in March, the company said in a statement in Bisnis Indonesia. Gudang Garam declined 1.2 percent to 36,050 rupiah.
PT International Nickel Indonesia (INCO IJ): Indonesia’s biggest producer of the metal said fourth-quarter net income rose to $108.9 million. That compares with a net income of $59.96 million a year earlier, according to data compiled by Bloomberg News. The stock slid 0.5 percent to 4,975 rupiah.
Tags: PT Ancora Indesia Resources, raw material, coal,PT Bank Tabungan Pensiunan National, PT Adaro Energy Tbk
The Jakarta Composite index climbed 0.1 percent to 3,443.53.
Coal producers: Power-station coal prices at Australia’s Newcastle port, an Asian benchmark, rose 4 percent to $131.71 a metric ton in the week ended Feb. 25, according to the globalCOAL NEWC Index.
PT Bumi Resources (BUMI IJ), Asia’s largest exporter of power-station coal, gained 5.4 percent to 2,925 rupiah and PT Adaro Energy (ADRO IJ), Indonesia’s second-biggest coal mining company, advanced 1 percent to 2,475 rupiah.
PT Ancora Indonesia Resources (OKAS IJ): The producer of ammonium nitrate may invest $50 million to $100 million to buy a mine that produces low-quality coal, Investor Daily Indonesia reported, without saying where it obtained the information. Ancora was unchanged at 300 rupiah.
PT Bank Tabungan Pensiunan Nasional (BTPN IJ): Shareholders approved a plan for a five-for-one stock split to boost trading of the stock, the Indonesian bank said in a statement to the stock exchange. Bank Tabungan Pensiunan declined 2.5 percent to 11,950 rupiah.
PT Enseval Putera Megatrading (EPMT IJ): The pharmaceutical distribution company said it plans to raise 300 billion rupiah ($34 million) selling new shares in a rights offer in March. Enseval may sell as much as 428.6 million new shares at 700 rupiah apiece, it said. Enseval fell 5.3 percent to 900 rupiah when it last traded Feb. 21.
PT Gudang Garam (GGRM IJ): The Indonesian cigarette producer will pay an interim dividend of 400 rupiah a share in March, the company said in a statement in Bisnis Indonesia. Gudang Garam declined 1.2 percent to 36,050 rupiah.
PT International Nickel Indonesia (INCO IJ): Indonesia’s biggest producer of the metal said fourth-quarter net income rose to $108.9 million. That compares with a net income of $59.96 million a year earlier, according to data compiled by Bloomberg News. The stock slid 0.5 percent to 4,975 rupiah.
Tags: PT Ancora Indesia Resources, raw material, coal,PT Bank Tabungan Pensiunan National, PT Adaro Energy Tbk
Friday, February 25, 2011
Australia steam coal index jumps to AUD 136 per tonne
Friday, 25 Feb 2011
Australia's thermal coal index, a benchmark for Asia jumped AUD 9 to over AUD 136 per tonne boosted as tight supply boosted prices amid the annual negotiations for the Japanese fiscal year coal contract.
Thermal coal prices on the weekly index closed at AUD 136.50 per tonne for the week to date on Monday, up sharply from AUD 126.28 a week earlier as tight supplies led desperate buyers to raise their bids.
One trader said that "It's getting very hard to get coal from some producers describing the rise in prices as the perfect storm for a higher Japanese fiscal year contract price to be set. Negotiations for the Japanese fiscal year thermal coal contract began last week and the price this year is widely expected to match or exceed the 2008 record price of AUD 125 per tonne due to upward to upward pressure from floods in Australia's Queensland State as well as production disruptions elsewhere.
Another Asia based trade source said that some coal traders said that although little coal was available, not many buyers are willing to pay such an elevated price and that actual deals were few and far between.
He added that "There are not a lot of tons around, I agree, but by the same token I'm not necessarily sure that the Japanese or anyone is really that desperate.” (Reuters)
Thermal coal prices on the weekly index closed at AUD 136.50 per tonne for the week to date on Monday, up sharply from AUD 126.28 a week earlier as tight supplies led desperate buyers to raise their bids.
One trader said that "It's getting very hard to get coal from some producers describing the rise in prices as the perfect storm for a higher Japanese fiscal year contract price to be set. Negotiations for the Japanese fiscal year thermal coal contract began last week and the price this year is widely expected to match or exceed the 2008 record price of AUD 125 per tonne due to upward to upward pressure from floods in Australia's Queensland State as well as production disruptions elsewhere.
Another Asia based trade source said that some coal traders said that although little coal was available, not many buyers are willing to pay such an elevated price and that actual deals were few and far between.
He added that "There are not a lot of tons around, I agree, but by the same token I'm not necessarily sure that the Japanese or anyone is really that desperate.” (Reuters)
Sunday, February 13, 2011
Australia Newcastle Thermal Coal Climbs 3.6% to $127.43 a ton
Feb 4, 2011
By Rajesh Kumar Singh - Feb 4, 2011 Power-station coal prices at Australia’s Newcastle port, an Asian benchmark, rose 3.6 percent in the week ended today.
Coal prices at the New South Wales port climbed to $127.43 a metric ton from $122.98 the previous week, according to the globalCOAL NEWC Index.
Xstrata Plc, the world’s largest exporter of power-station coal, BHP Billiton Ltd. and Rio Tinto Group are among mining companies that ship coal through Newcastle. (sourced:Bloomberg)
Wednesday, January 26, 2011
Iron Ore-Key indexes climb to high but buying wanes
Wednesday Jan 26, 2011
SHANGHAI Jan 26 (Reuters) -
Offers to sell iron ore to China remained unchanged on Wednesday as steel mills closed buying in the final week before the Lunar New Year holiday, although key indexes hovered near record highs on Tuesday.
China's iron ore market has gradually ground to a halt this week as the Feb.2-8 Lunar New Year holiday approaches, and offers of Indian ore with 63.5 percent iron content selling to China stood little changed at about $190 per tonne.
"Our steel mill customers have already stopped buying the raw materials this week; there is no market at all right now," said an iron ore trader in Shanghai.
Year-end restocking by Chinese steel mills since early January has boosted prices of imported iron ore to near $200 per tonne including freight, a level last seen in February 2008.
The Platts 62 percent iron ore index IODBZ00-PLT stood steady at $186 per tonne on Tuesday, still near the record $186.50 touched last Thursday.
The Steel Index 62 percent benchmark .IO62-CNI=SI rebounded 40 cents to $185.4 per tonne, holding close to last Friday's record $185.70 last Friday.
The Metal Bulletin Iron Ore Index .IO62-CNO=MB bucked the trend again by falling about $1 to $183.48 per tonne on Tuesday after gaining for 12 consecutive sessions. (Reporting by Ruby Lian and Manolo Serapio Jr in SINGAPORE; Editing by Chris Lewis, sourced reuters)
Monday, January 17, 2011
Exporters Predict `Sunny Days' for Orders Will Boost Rupee: India Credit
Source: Bloomberg By Tushar Dhara - Jan 17, 2011
Exporters in India say the surge in shipments at the end of 2010 will likely continue in a trend that may bolster the rupee and attract international investors to the nation’s bonds.
Exports expanded 36.4 percent in December while imports contracted 11.1 percent, Trade Secretary Rahul Khullar said in a Jan. 8 briefing. Finance Minister Pranab Mukherjee said Dec. 10 that the current-account deficit in the year through March may be about 3 percent of gross domestic product, compared with an earlier estimate of as much as 3.5 percent.
Overseas sales of Indian goods will increase as the U.S. economy strengthens and China’s production costs climb, textile and garment makers Suryavanshi Spinning Mills Ltd. and Raymond Ltd. said. Foreign investors more than doubled holdings of Indian debt to $17.7 billion in 2010, exchange data show, spurring a 4.1 percent gain in the currency.
“If Finance Minister Mukherjee’s prediction comes true and exports accelerate, it is an indication of the strength of the Indian economy,” Namrata Padhye, a Mumbai-based economist at IDBI Gilts Ltd., a primary dealer of the country’s debt, said in an interview on Jan. 12. “That could spur investors to buy the nation’s bonds.”
Sunny Days
India’s government bonds returned 4.3 percent in the past year, according to indexes compiled by HSBC Holdings Plc. The notes underperformed securities in Indonesia, which returned 21.1 percent, the most in Asia. The 7.8 percent security due May 2020 will yield 8.05 percent by the end of this year, according to the median forecast of six economists in a Bloomberg survey, compared with 8.19 percent on Jan. 14.
The Indian currency fell 0.3 percent to 45.50 per dollar, according to data compiled by Bloomberg. The rupee’s gain last year trailed behind advances in the Malaysian ringgit, the Thai baht, the Taiwanese and Singapore dollars, the Philippine peso and the Indonesian rupiah.
“The export industry will see some sunny days,” said J.K. Agarwal, executive director of Suryavanshi Spinning Mills Ltd., which ships garments to the U.S., Europe, the Middle East and Japan. “Orders from the U.S. have jumped in the last quarter and the return of growth in that economy is giving us reasons to be more optimistic.”
Agarwal predicts the rupee may “test” 44 a dollar by March. “We are bracing for a stronger rupee simply because the economy is not only stable but is accelerating at a high pace.”
Sovereign Spread
The difference in yields between 10-year Indian government notes and U.S. Treasuries due in a decade has widened to 489 basis points from a six-month low of 442 on Dec. 28. India’s three-year government bond yield of 7.70 percent compares with 12.7 percent in Brazil, 3.26 percent in China and 7.2 percent in Russia.
The benchmark yield touched an eight-month high of 8.26 percent on Jan. 10 on concern that rising food and crude oil prices will prompt the central bank to raise interest rates for the seventh time in a year. Wholesale prices rose 8.43 percent in December, compared with 7.48 percent the previous month.
Exporters in India say the surge in shipments at the end of 2010 will likely continue in a trend that may bolster the rupee and attract international investors to the nation’s bonds.
Exports expanded 36.4 percent in December while imports contracted 11.1 percent, Trade Secretary Rahul Khullar said in a Jan. 8 briefing. Finance Minister Pranab Mukherjee said Dec. 10 that the current-account deficit in the year through March may be about 3 percent of gross domestic product, compared with an earlier estimate of as much as 3.5 percent.
Overseas sales of Indian goods will increase as the U.S. economy strengthens and China’s production costs climb, textile and garment makers Suryavanshi Spinning Mills Ltd. and Raymond Ltd. said. Foreign investors more than doubled holdings of Indian debt to $17.7 billion in 2010, exchange data show, spurring a 4.1 percent gain in the currency.
“If Finance Minister Mukherjee’s prediction comes true and exports accelerate, it is an indication of the strength of the Indian economy,” Namrata Padhye, a Mumbai-based economist at IDBI Gilts Ltd., a primary dealer of the country’s debt, said in an interview on Jan. 12. “That could spur investors to buy the nation’s bonds.”
Sunny Days
India’s government bonds returned 4.3 percent in the past year, according to indexes compiled by HSBC Holdings Plc. The notes underperformed securities in Indonesia, which returned 21.1 percent, the most in Asia. The 7.8 percent security due May 2020 will yield 8.05 percent by the end of this year, according to the median forecast of six economists in a Bloomberg survey, compared with 8.19 percent on Jan. 14.
The Indian currency fell 0.3 percent to 45.50 per dollar, according to data compiled by Bloomberg. The rupee’s gain last year trailed behind advances in the Malaysian ringgit, the Thai baht, the Taiwanese and Singapore dollars, the Philippine peso and the Indonesian rupiah.
“The export industry will see some sunny days,” said J.K. Agarwal, executive director of Suryavanshi Spinning Mills Ltd., which ships garments to the U.S., Europe, the Middle East and Japan. “Orders from the U.S. have jumped in the last quarter and the return of growth in that economy is giving us reasons to be more optimistic.”
Agarwal predicts the rupee may “test” 44 a dollar by March. “We are bracing for a stronger rupee simply because the economy is not only stable but is accelerating at a high pace.”
Sovereign Spread
The difference in yields between 10-year Indian government notes and U.S. Treasuries due in a decade has widened to 489 basis points from a six-month low of 442 on Dec. 28. India’s three-year government bond yield of 7.70 percent compares with 12.7 percent in Brazil, 3.26 percent in China and 7.2 percent in Russia.
The benchmark yield touched an eight-month high of 8.26 percent on Jan. 10 on concern that rising food and crude oil prices will prompt the central bank to raise interest rates for the seventh time in a year. Wholesale prices rose 8.43 percent in December, compared with 7.48 percent the previous month.
Saturday, January 15, 2011
Steam coal price at Newcastle climbs to US$ 136 as on Friday, January 14, 2011
Steam coal prices at Australia’s Newcastle port, an Asian benchmark, rose by 4.9% in the week.
According to the globalCOAL NEWC Index, steam coal prices at the New South Wales port climbed to USD 136.30 per tonne from USD 129.90 per tonne in the previous week.
Coal, Australian thermal coal, 12000- btu/pound, less than 1% sulfur, 14% ash, FOB Newcastle/Port Kembla, US$ per metric tonneAs of: Friday, January 14, 2011
Source: globalCOAL
According to the globalCOAL NEWC Index, steam coal prices at the New South Wales port climbed to USD 136.30 per tonne from USD 129.90 per tonne in the previous week.
Coal, Australian thermal coal, 12000- btu/pound, less than 1% sulfur, 14% ash, FOB Newcastle/Port Kembla, US$ per metric tonneAs of: Friday, January 14, 2011
Source: globalCOAL
Steam coal price may reach USD 150 a tonne
According to Credit Suisse Group AG, power station coal may rise to USD 150 a tonne in the coming weeks, driven by extreme weather conditions, before declining in the year.
Mr Joachim Azria a New York based analyst with Credit Suisse said that “The unexpected cold weather so far this season has taken a toll on global energy inventories and reset energy prices to varying degrees. We expect coal prices to move above USD 150 in coming weeks and possibly higher if there are further significant disruptions to supply.”
Mr Azria said that prices first rose because of a colder than normal winter in the Northern Hemisphere, prompting restocking by countries including China. Further price increases were supported by supply fears because of heavy rains in Indonesia, Australia and Colombia, as well as floods in Queensland state.
According to IHS McCloskey, power station coal at the port of Newcastle in Australia’s New South Wales, the benchmark for Asia, jumped 4.5% to USD 131.80 a tonne in the week ended January 7th 2011.
Sourced from Bloomberg
Mr Joachim Azria a New York based analyst with Credit Suisse said that “The unexpected cold weather so far this season has taken a toll on global energy inventories and reset energy prices to varying degrees. We expect coal prices to move above USD 150 in coming weeks and possibly higher if there are further significant disruptions to supply.”
Mr Azria said that prices first rose because of a colder than normal winter in the Northern Hemisphere, prompting restocking by countries including China. Further price increases were supported by supply fears because of heavy rains in Indonesia, Australia and Colombia, as well as floods in Queensland state.
According to IHS McCloskey, power station coal at the port of Newcastle in Australia’s New South Wales, the benchmark for Asia, jumped 4.5% to USD 131.80 a tonne in the week ended January 7th 2011.
Sourced from Bloomberg
Wednesday, January 12, 2011
Peabody Energy, Rio Tinto, BHP Billiton, Xstrata and Anglo American have all declared force majeure in the region Queensland
Queensland floods in 2008 left steel producers with a threefold increase in annual contract prices to about US$300 a ton.
Queensland accounts for the majority of the premium hard coking coal supply on a global seaborne basis. Queensland is the biggest global exporter of coal used in steel production.
Collins Stewart believes the current situation is worse than the 2008 flooding, as more mines and transportation infrastructure have been affected this time. About 37% of the world’s traded coking coal has been affected, according to Macquarie.
Mines affected in 2008 took at least six months to recover from the disruption and return to full capacity. The cumulative loss of production is expected to maintain upward pressure on spot prices for several weeks.
Coal stockpiles at Gladstone harbor in Queensland are very low after flooding shut a rail network. Eighteen ships are waiting to load and 12 more are expected at the harbor in the next 10 days.
Meanwhile, Queensland coal miner Macarthur Coal stated on Wednesday that its now expecting first-half profit at the low end of its forecast range due to production issues.
Peabody Energy, Rio Tinto, BHP Billiton, Xstrata and Anglo American have all declared force majeure in the region, which means they won’t be able to meet contractual obligations due to unforeseen circumstances.
About 98 million tons of capacity to produce steelmaking coal is under force majeure, equivalent to 73% of Queensland exports.
Australia shipped 259 million tons of coal for steel and power in 2009, according to the World Coal Association.
Australia is the largest producer of coal used in steelmaking, contributing more than 40% of the global seaborne trade, according to Deutsche Bank AG. The country is the second-largest exporter of the commodity after Indonesia.
Coking coal suppliers traditionally hold annual talks with steelmakers to fix benchmark contracts for the 12 months from April 1.
Steelmakers may agree to monthly pricing for coking coal, as proposed by BHP, in the current environment rather than locking in US$300 a ton for a whole quarter, Macquarie says.
There will be a material impact on Australian exports of coking coal, even if no further rain falls, Morgan Stanley adds.
Flooding is also affecting thermal coal, used by power stations, driving the price of supplies at the port of Newcastle in Australia’s New South Wales, the benchmark for Asia, to the most in 27 months.
Prices jumped 3% to US$126.10 a ton in the week ended Dec. 31, the most since Oct. 2008.
Queensland accounts for the majority of the premium hard coking coal supply on a global seaborne basis. Queensland is the biggest global exporter of coal used in steel production.
Collins Stewart believes the current situation is worse than the 2008 flooding, as more mines and transportation infrastructure have been affected this time. About 37% of the world’s traded coking coal has been affected, according to Macquarie.
Mines affected in 2008 took at least six months to recover from the disruption and return to full capacity. The cumulative loss of production is expected to maintain upward pressure on spot prices for several weeks.
Coal stockpiles at Gladstone harbor in Queensland are very low after flooding shut a rail network. Eighteen ships are waiting to load and 12 more are expected at the harbor in the next 10 days.
Meanwhile, Queensland coal miner Macarthur Coal stated on Wednesday that its now expecting first-half profit at the low end of its forecast range due to production issues.
Peabody Energy, Rio Tinto, BHP Billiton, Xstrata and Anglo American have all declared force majeure in the region, which means they won’t be able to meet contractual obligations due to unforeseen circumstances.
About 98 million tons of capacity to produce steelmaking coal is under force majeure, equivalent to 73% of Queensland exports.
Australia shipped 259 million tons of coal for steel and power in 2009, according to the World Coal Association.
Australia is the largest producer of coal used in steelmaking, contributing more than 40% of the global seaborne trade, according to Deutsche Bank AG. The country is the second-largest exporter of the commodity after Indonesia.
Coking coal suppliers traditionally hold annual talks with steelmakers to fix benchmark contracts for the 12 months from April 1.
Steelmakers may agree to monthly pricing for coking coal, as proposed by BHP, in the current environment rather than locking in US$300 a ton for a whole quarter, Macquarie says.
There will be a material impact on Australian exports of coking coal, even if no further rain falls, Morgan Stanley adds.
Flooding is also affecting thermal coal, used by power stations, driving the price of supplies at the port of Newcastle in Australia’s New South Wales, the benchmark for Asia, to the most in 27 months.
Prices jumped 3% to US$126.10 a ton in the week ended Dec. 31, the most since Oct. 2008.
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