Tuesday, 07 Feb 2012
KOSEP has issued two tenders for a total of 380kt of thermal coal. Tender KOSEP-Coal-2012-SP02-1 is for 120,000 tonnes of minimum 5,500 kcal/kg coal either at FOBT or CFR prices.
Tender KOSEP-Coal-2012-SP02-2 is for 260kt of minimum 4,600 kcal/kg coal. Delivery for both tenders is between March 25 and June 30.
According to The Tex Report, bids close February 14. Meanwhile, Taipower has received 4.875 million tonnes of offers for its 1.125 million tonne sub bituminous tender which closed February 2.
Tex reports Taipower received offers from eight bidders including Glencore, Advance Trading, Flame SA, Vitol Asia and Right Link Industry.
(Sourced from coalportal.com)
Showing posts with label CFR. Show all posts
Showing posts with label CFR. Show all posts
Tuesday, February 7, 2012
Friday, December 2, 2011
ASIA COAL MARKET: Indonesian coal prices continue to slip on lack of demand
Friday, 2 Dec, 2011
Manila (Platts): Indonesian coal prices continued to soften Friday as reports trickle in that that barging is now being allowed at the Mahakam river and Chinese importers are not serious about chasing spot cargoes.
A trader said his Chinese associates are still asking him to offer Indonesian coal in China, but added that he is not trading as he feels that Chinese importers will only buy at prices lower than what they have been offered.
He said he received a Chinese bid for 5,000 kcal/kg GAR Kalimantan coal at $76.50/mt FOB for blended material.
An Indonesian coal producer previously offered to sell at $77/mt FOB.
The producer has not yet responded to the Chinese bid and may likely agree to lower the price, he said.
"I am trying to close something for 5,000 kcal/kg GAR," the trader said, adding that Indonesian coal prices continued to remain soft.
Meanwhile, the supply disruption caused by the November 26 collapse of a public suspension bridge at the Mahakam river failed to give support to Indonesian coal prices, industry sources said.
On Friday, a north Asian buyer said coal-carrying barges have been now allowed to pass through the portion of the Mahakam river where the bridge collapsed.
Separately, Mahakam Sumber Jaya, or MSJ, a unit of Tanito Coal, which declared a force majeure on its December shipments after the bridge collapsed, has lifted the declaration Thursday.
A second trader said there are hardly any buyers for Indonesian cargoes, adding that Kalimantan prices are edging lower.
Another trader said there continued to be very few bids out of China, describing bids by Chinese importers as all over the place.
"The same is true for Indonesian coal price offers," he said.
He added that Indonesian CFR price offers for 4,000 kcal/kg NAR coal for south China delivery were between $65/mt and $82/mt.
Platts assessed Thursday the FOB Kalimantan 5,900 kcal/kg GAR at $98.00/mt, a $0.25/mt decline from a day earlier and FOB Kalimantan 5,000 kcal/kg GAR at $76.00/mt, down $0.25/mt day on day.
(Courtesy sourced Platts)
Manila (Platts): Indonesian coal prices continued to soften Friday as reports trickle in that that barging is now being allowed at the Mahakam river and Chinese importers are not serious about chasing spot cargoes.
A trader said his Chinese associates are still asking him to offer Indonesian coal in China, but added that he is not trading as he feels that Chinese importers will only buy at prices lower than what they have been offered.
He said he received a Chinese bid for 5,000 kcal/kg GAR Kalimantan coal at $76.50/mt FOB for blended material.
An Indonesian coal producer previously offered to sell at $77/mt FOB.
The producer has not yet responded to the Chinese bid and may likely agree to lower the price, he said.
"I am trying to close something for 5,000 kcal/kg GAR," the trader said, adding that Indonesian coal prices continued to remain soft.
Meanwhile, the supply disruption caused by the November 26 collapse of a public suspension bridge at the Mahakam river failed to give support to Indonesian coal prices, industry sources said.
On Friday, a north Asian buyer said coal-carrying barges have been now allowed to pass through the portion of the Mahakam river where the bridge collapsed.
Separately, Mahakam Sumber Jaya, or MSJ, a unit of Tanito Coal, which declared a force majeure on its December shipments after the bridge collapsed, has lifted the declaration Thursday.
A second trader said there are hardly any buyers for Indonesian cargoes, adding that Kalimantan prices are edging lower.
Another trader said there continued to be very few bids out of China, describing bids by Chinese importers as all over the place.
"The same is true for Indonesian coal price offers," he said.
He added that Indonesian CFR price offers for 4,000 kcal/kg NAR coal for south China delivery were between $65/mt and $82/mt.
Platts assessed Thursday the FOB Kalimantan 5,900 kcal/kg GAR at $98.00/mt, a $0.25/mt decline from a day earlier and FOB Kalimantan 5,000 kcal/kg GAR at $76.00/mt, down $0.25/mt day on day.
(Courtesy sourced Platts)
Friday, March 18, 2011
Japanese earthquake - Indian insurance companies turn away
Friday, 18 Mar 2011
It is reported that almost all the majors in Indian insurance sectors have stopped insuring steel cargos under shipment from Japanese ports.
Steel imports are normally done at CFR terms, where the insurance is undertaken by the buyers. (sourced:steelguru)
It is reported that almost all the majors in Indian insurance sectors have stopped insuring steel cargos under shipment from Japanese ports.
Steel imports are normally done at CFR terms, where the insurance is undertaken by the buyers. (sourced:steelguru)
Friday, January 28, 2011
CRC offers to India rise to $830 cfr
Mumbai 28 January 2011
Cold rolled coil offers into India have jumped to $820-830 per tonne cfr Mumbai, supported by demand from the growing car sector and rising hot rolled coil prices upstream. This is up from bookings of $775-780 cfr last week. For more information visit www.metalbulletin.com)
Cold rolled coil offers into India have jumped to $820-830 per tonne cfr Mumbai, supported by demand from the growing car sector and rising hot rolled coil prices upstream. This is up from bookings of $775-780 cfr last week. For more information visit www.metalbulletin.com)
CHINA STEEL WRAP: rebar record gains
Shanghai 28 January 2011
+ SHFE May rebar down 0.3% w-o-w at 4,936 yuan ($751)
+ SSEC April HRC up 0.9% w-o-w at 4,883 yuan ($743)
+ Spot iron ore unchanged at $188-191 cfr Shanghai rebar ended the week lower despite hitting record highs on Monday and Tuesday, as profit taking and property curbs erased earlier gains. The dominant May rebar contract closed at 4,936 yuan per tonne on Friday, up a slight 6 yuan from Thursday but down 0.3%. For information visit www.metalbulletin.com
+ SHFE May rebar down 0.3% w-o-w at 4,936 yuan ($751)
+ SSEC April HRC up 0.9% w-o-w at 4,883 yuan ($743)
+ Spot iron ore unchanged at $188-191 cfr Shanghai rebar ended the week lower despite hitting record highs on Monday and Tuesday, as profit taking and property curbs erased earlier gains. The dominant May rebar contract closed at 4,936 yuan per tonne on Friday, up a slight 6 yuan from Thursday but down 0.3%. For information visit www.metalbulletin.com
Thursday, January 27, 2011
London Mining inks iron ore off take agreement with Glencore
Thursday, 27 Jan 2011
London Mining announced that it has signed an offtake agreement with the trading house Glencore International AG.
The offtake will cover 9.5 million WMT production from Phase 1A of the Company's Marampa project.
The five year agreement, which includes a pre-payment facility for up to USD 27 million, will provide guaranteed offtake and shipping from Sierra Leone for all Phase 1A production, with the option for London Mining to expand the agreement to Phase 1B on the same terms.
The offtake will be priced at around Platts 62% CFR China benchmark, with an upward adjustment for the Fe content of the Company's 65% Fe sinter feed concentrate and an incentive to place product at locations such as Europe where there is a net pricing benefit through lower shipping costs.
The offtake accommodates London Mining's ramp up expectations and is flexible to accommodate varying shipping sizes and frequencies to supply European, Chinese and other markets.
Mr Graeme Hossie CEO of London Mining said “This offtake agreement is an important development for the Marampa project. It provides London Mining with certainty of proceeds directly correlated to the benchmark CFR China price, positive working capital and provides an external validation of the high quality of our product. In addition, it gives us a reliable counterparty which will also provide shipping and agency services for us if we wish to supply particular steel industry clients from our next stage expanded production."
London Mining announced that it has signed an offtake agreement with the trading house Glencore International AG.
The offtake will cover 9.5 million WMT production from Phase 1A of the Company's Marampa project.
The five year agreement, which includes a pre-payment facility for up to USD 27 million, will provide guaranteed offtake and shipping from Sierra Leone for all Phase 1A production, with the option for London Mining to expand the agreement to Phase 1B on the same terms.
The offtake will be priced at around Platts 62% CFR China benchmark, with an upward adjustment for the Fe content of the Company's 65% Fe sinter feed concentrate and an incentive to place product at locations such as Europe where there is a net pricing benefit through lower shipping costs.
The offtake accommodates London Mining's ramp up expectations and is flexible to accommodate varying shipping sizes and frequencies to supply European, Chinese and other markets.
Mr Graeme Hossie CEO of London Mining said “This offtake agreement is an important development for the Marampa project. It provides London Mining with certainty of proceeds directly correlated to the benchmark CFR China price, positive working capital and provides an external validation of the high quality of our product. In addition, it gives us a reliable counterparty which will also provide shipping and agency services for us if we wish to supply particular steel industry clients from our next stage expanded production."
Tuesday, January 25, 2011
MBIO Index 25 January 2011; $183.48/tonne; Index drops for first time in 13 days to $183.48
MBIO Index 25 January 2011
$183.48/tonne MBIO Index 24/1/11 $184.43/tonne % Change -0.5%/tonne $ Change -$0.95/tonne The MBIO Index today calculated to $183.48/tonne cfr Qingdao on a 62% Fe basis. This is a fall of $0.95/tonne on yesterday as the index falls for the first time since 6th January. It is also the largest drop in a month. Yesterday, despite the climb in the index, the number of transactions fell as mills stayed out of the market giving some indication that prices may drop shortly. This trend has continued today with few deals taking place. Assessments for 63.5% Indian material remained flat again today, at $188-191/tonne. With the holiday fast approaching, we may start to see the number of transactions continue to fall with traders unwilling to remain in the market as liquidity starts to dry up. Mills seem to have finished the majority of their buying as well. If this is the case we can expect to see the spot price start to edge down in the short term. Read More at http://www.mbironoreindex.com/ Sourced:Metal Bulletin Ltd.
$183.48/tonne MBIO Index 24/1/11 $184.43/tonne % Change -0.5%/tonne $ Change -$0.95/tonne The MBIO Index today calculated to $183.48/tonne cfr Qingdao on a 62% Fe basis. This is a fall of $0.95/tonne on yesterday as the index falls for the first time since 6th January. It is also the largest drop in a month. Yesterday, despite the climb in the index, the number of transactions fell as mills stayed out of the market giving some indication that prices may drop shortly. This trend has continued today with few deals taking place. Assessments for 63.5% Indian material remained flat again today, at $188-191/tonne. With the holiday fast approaching, we may start to see the number of transactions continue to fall with traders unwilling to remain in the market as liquidity starts to dry up. Mills seem to have finished the majority of their buying as well. If this is the case we can expect to see the spot price start to edge down in the short term. Read More at http://www.mbironoreindex.com/ Sourced:Metal Bulletin Ltd.
Monday, January 17, 2011
Monday, Janurary17, 2011 Market Monitor - Iron Ore - WEEK 2 - market up
Monday, 17 Jan 2011
Iron ore spot market is continuing its upward momentum with approaching spring festival holidays and concerns on supply side.
Reports are filtering in for transactions at USD 184 CFR levels on limited high grade parcels from India as well as concerns of a tropical cyclone threatening to interrupt production and shipments in Australia.
As the higher grade cargos are very few, talks of up to USD 190 per tonne CFR are starting to be heard.
Iron ore fines, FOB India
Grade Change
Fe 63.5/63%------------ 2%
Fe 63.5/62.5%------------2%
Fe 63/62% ------------ 2%
Fe 62/61%------------ 2%
Fe 61/60%------------ 2%
Fe 60/59 % ------------2%
Fe 59/58 % ------------2%
Fe 58/57% ------------3%
Fe 57/56 % ------------3%
Fe 56/55%------------ 3%
Fe 55/54 % ------------3%
Fe 54/ 53 %------------ 4%
Fe 53/52 % ------------4%
Fe 52/51 % ------------5%
Change is on Jan 14th as compared to 7th Jan 2011
Iron ore spot market is continuing its upward momentum with approaching spring festival holidays and concerns on supply side.
Reports are filtering in for transactions at USD 184 CFR levels on limited high grade parcels from India as well as concerns of a tropical cyclone threatening to interrupt production and shipments in Australia.
As the higher grade cargos are very few, talks of up to USD 190 per tonne CFR are starting to be heard.
Iron ore fines, FOB India
Grade Change
Fe 63.5/63%------------ 2%
Fe 63.5/62.5%------------2%
Fe 63/62% ------------ 2%
Fe 62/61%------------ 2%
Fe 61/60%------------ 2%
Fe 60/59 % ------------2%
Fe 59/58 % ------------2%
Fe 58/57% ------------3%
Fe 57/56 % ------------3%
Fe 56/55%------------ 3%
Fe 55/54 % ------------3%
Fe 54/ 53 %------------ 4%
Fe 53/52 % ------------4%
Fe 52/51 % ------------5%
Change is on Jan 14th as compared to 7th Jan 2011
Saturday, January 15, 2011
Iron ore price negotiations - BHP adopts weekly auction - Report
China Securities Journal, citing a procurement manager at an unidentified steel mill in southern China, reported that mining giant BHP Billiton Ltd has begun auctions for spot iron ore shipments to Chinese steel mills marking the latest shift in its pricing strategy to cash in on rocketing prices.
The report said that BHP has started to auction 170,000 tonne spot iron ore shipment every fortnight to Chinese customers.
If true, it clearly indicates gigantic shift from annul bench mark price to quarterly index based price to monthly finally down to spot, reflecting that at the end of the day market forces prevail.
Iron ore spot market is continuing its upward momentum with approaching spring festival holidays and concerns on supply side. Reports are filtering in for transactions at USD 184 CFR levels on limited high grade parcels from India as well as concerns of a tropical cyclone threatening to interrupt production and shipments in Australia. As the higher grade cargos are very few, talks of up to USD 190 per tonne CFR are starting to be heard.
With the gradual shift form benchmark pricing based long term contracts to spot cargos, it has become more vital for both sellers as well as buyers to precisely monitor the daily movements of iron ore spot prices to keep tab on trends and spot opportunities.
The report said that BHP has started to auction 170,000 tonne spot iron ore shipment every fortnight to Chinese customers.
If true, it clearly indicates gigantic shift from annul bench mark price to quarterly index based price to monthly finally down to spot, reflecting that at the end of the day market forces prevail.
Iron ore spot market is continuing its upward momentum with approaching spring festival holidays and concerns on supply side. Reports are filtering in for transactions at USD 184 CFR levels on limited high grade parcels from India as well as concerns of a tropical cyclone threatening to interrupt production and shipments in Australia. As the higher grade cargos are very few, talks of up to USD 190 per tonne CFR are starting to be heard.
With the gradual shift form benchmark pricing based long term contracts to spot cargos, it has become more vital for both sellers as well as buyers to precisely monitor the daily movements of iron ore spot prices to keep tab on trends and spot opportunities.
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