Feb22, 2012
TAIPEI (Reuters) - China Steel, Taiwan's top steel maker, said on Tuesday it will pay T$3.06 billion ($104 million) to invest in a coal mine in Australia and take rights to 10 percent of the future output, in a move to counter the impact of higher coal prices.
About half the amount will be used to buy the share of output rights at the MDL 162 site in the northern state of Queensland, while the rest will go on building facilities and on future development, China Steel said in a statement.
The investment will secure annual output of 600,000 tons of metallurgical coal for China Steel once completed in 2016, raising its owned coal supply to 7 percent from 3 percent of total supply, a spokesman said separately.
Falling demand for steel amid a global slowdown but higher prices of raw materials like coal have prompted China Steel and global rivals to try and seek their own supplies.
In December China Steel agreed to a 23 percent cut in iron ore prices and had earlier said it was seeking to delay some raw material deliveries.
Shares of China Steel ended flat before the announcement, versus a 0.42 percent slide of the broader market.
(sourced Reuters)
Showing posts with label Taiwan. Show all posts
Showing posts with label Taiwan. Show all posts
Wednesday, February 22, 2012
Saturday, August 6, 2011
Japan steelmakers' price talks with Korea hit stalemate
Tokyo (Reuters) - Japanese steelmakers' talks with South Korean customers on August-October exports have reached stalemate as a slowdown in the global economy and low-priced exports from China weigh on the market and the yen's strength makes price cuts difficult for Japanese exporters.
Japanese steelmakers are aiming for a price of $750 a tonne for hot-rolled coil for shipments during the three months, but South Korean customers insist on a level closer to $600, citing recent Chinese prices sold to South Korea of $600, two industry sources familiar with the matter said.
That level is similar to a year ago when the region's export market collapsed after China boosted exports ahead of tax changes aimed at curbing exports.
Asia's steel market shows no signs of a turnaround, the sources said, with makers in Japan, China and South Korea boosting exports despite signs of a slowdown in demand growth.
Japanese steelmakers' exports in the first six months of this year totalled 21.54 million tonnes, down only 2.3 percent from the same period a year ago when exports hit a record.
Japanese steelmakers were the world's biggest exporters last year, with Nippon Steel Corp , JFE Steel deriving half their revenues from exports.
Taiwan's China Steel Corp said on Friday the company has started to consider whether to bring anti-dumping suits against Chinese, South Korean and Japanese products, saying low-priced imports are disrupting the market.
Imports of Chinese thick-plate that contain boron particularly show steep import gains, the company told Reuters.
(sourced Reuters)
Japanese steelmakers are aiming for a price of $750 a tonne for hot-rolled coil for shipments during the three months, but South Korean customers insist on a level closer to $600, citing recent Chinese prices sold to South Korea of $600, two industry sources familiar with the matter said.
That level is similar to a year ago when the region's export market collapsed after China boosted exports ahead of tax changes aimed at curbing exports.
Asia's steel market shows no signs of a turnaround, the sources said, with makers in Japan, China and South Korea boosting exports despite signs of a slowdown in demand growth.
Japanese steelmakers' exports in the first six months of this year totalled 21.54 million tonnes, down only 2.3 percent from the same period a year ago when exports hit a record.
Japanese steelmakers were the world's biggest exporters last year, with Nippon Steel Corp , JFE Steel deriving half their revenues from exports.
Taiwan's China Steel Corp said on Friday the company has started to consider whether to bring anti-dumping suits against Chinese, South Korean and Japanese products, saying low-priced imports are disrupting the market.
Imports of Chinese thick-plate that contain boron particularly show steep import gains, the company told Reuters.
(sourced Reuters)
Friday, March 18, 2011
Fall in Indonesian Coal Exports in February'2011
Friday, 18 March 11
(sourced:coalspot)
Above exportt information within this article is provided by coalspot on an "as is" and "as available” basis. All details about, given in good faith and has been collected from various press reports, organization and individuals considered reliable but without guarantee. While every care has been taken to ensure the accuracy of information furnished in this article. COALspot shall be obliged if errors / omissions are brought to its notice for carrying out corrections in this article.(cs)
If you believe an article violates your rights or the rights of others, please contact us.
Indonesian coal exports seen a fall of 10.76% during Feb 2011. The world’s largest coal exporter shipped 22.029 MMts of coal against its exports of 24.687 million tons in January 2011, according to the industry sources.
The Indonesian coal exports to the largest importers viz., India and China have shrunk to the extent of 9.27% and 11.71% respectively in the month of Feb'2011. India has imported a total tonnage of around 4.631 MMts (5.105MMts in Jan) as against Chinese imports of 4.234 MMts (4.796 MMts in Jan).
India remained the largest importer of Indonesian coal in February 2011.
The combined affect of slow down in the imports of Indonesian coal had a combined affect of 4.19% of total Indonesian coal exports in February. However, India pushed China to second place in this year.
Last two years Chinese's utilities have imported more Indonesian coal than Indian Utilities. However, in 2011 India has inched above the Chinese utilities usage of Indonesian coal. In to 40.24 percent of total Indonesian coal exports in February goes to India and China.
Top five Indonesian coal importers in February were India, China, Japan South Korea and Taiwan.
According to market players, since 2009 Indonesian coal witnessed higher exports due to the increased demand from India and China. Chinese and Indian end-user are always keep an eye on Indonesia for their coal needs, due to the fact that Indonesia is closer to their ports. this results in lesser voyage time resulting in lesser sea freights.
Increase in Indonesian exports of Low rank coal picked up in recent months. This is one of the main reason for India emerging as the topper for Indonesian exports. due to domestic coal shortage Indian consumers have devised a primitive method of blending of Low rank high moisture coal with the available linkage domestic coal. Indian domestic coal characterized by high ash (30% to 40%) and low moisture (9%) which can advantageously blend with Indonesian Low rank coal of high Moisture (<50%) and low ash (<8%).
Also the increase of Bio Mass and Co-generation capacities Low rank coals have become the order of the day. Also the higher discount prevailing for Low rank coals have encouraged their usage.
Due to the spate of demand for Low ranking coal (<3200 GAR coals with Moisture of up to 50%) Sumatra based LRC suppliers were also targeting Indian market for their exports. In view of this encouraging business Industry is worried and closely watching the proposed Indonesian Govt. policy of banning exports of Low ranking coals.
One of the Indian traders commented that due to good rain resulting in continuous Hydro power, drop in cement and steel demand in India resulted in accumulation of stocks in Indian ports and with the plants. This is the main reason for lower imports in Indonesian coal. However, he also added that, the next 4 months being summer months in India the demand for power, steel and cement increases thereby the movement in coal may be witnessed resulting in higher consumption.
Indonesia already successfully implemented monthly coal reference price for its coal. Coal producers were asked to comply with the government declared index prior to conclude any short term and long terms coal sales agreement with its buyers.
Indonesia’s Ministry of Energy and Mineral Resources has set the March 2011 Indonesian Coal Reference Price for thermal coal at US$ 122.43 per ton, which is 3.63 percent lesser than February 2011 price of US$ 127.05.
Instead of dropped in HBA, Indonesian coal prices were still stand at steady to firm position. small scale mines from Kalimantan were offering 6300 GAD coal between US$ 82 - 87 per MT and premium coal supplier's prices were already in three digits, an international trader said.
According to market stakeholders, the prices may stand stable due to Japan's earth quake, tsunami and nuclear power plants blast, but the prices and demand will move more stronger in coming months.
However, there is sort of confusion prevailing over the price movements as Japanese industries might declare FORCE Majure. The ongoing disturbance in major oil producing countries like Egypt, Libya and Bahrain needs to be taken into account before arriving at the conclusion.
Any time the industry may be attacked by wide fluctuations both sides.
The Indonesian coal exports to the largest importers viz., India and China have shrunk to the extent of 9.27% and 11.71% respectively in the month of Feb'2011. India has imported a total tonnage of around 4.631 MMts (5.105MMts in Jan) as against Chinese imports of 4.234 MMts (4.796 MMts in Jan).
India remained the largest importer of Indonesian coal in February 2011.
The combined affect of slow down in the imports of Indonesian coal had a combined affect of 4.19% of total Indonesian coal exports in February. However, India pushed China to second place in this year.
Last two years Chinese's utilities have imported more Indonesian coal than Indian Utilities. However, in 2011 India has inched above the Chinese utilities usage of Indonesian coal. In to 40.24 percent of total Indonesian coal exports in February goes to India and China.
Top five Indonesian coal importers in February were India, China, Japan South Korea and Taiwan.
According to market players, since 2009 Indonesian coal witnessed higher exports due to the increased demand from India and China. Chinese and Indian end-user are always keep an eye on Indonesia for their coal needs, due to the fact that Indonesia is closer to their ports. this results in lesser voyage time resulting in lesser sea freights.
Increase in Indonesian exports of Low rank coal picked up in recent months. This is one of the main reason for India emerging as the topper for Indonesian exports. due to domestic coal shortage Indian consumers have devised a primitive method of blending of Low rank high moisture coal with the available linkage domestic coal. Indian domestic coal characterized by high ash (30% to 40%) and low moisture (9%) which can advantageously blend with Indonesian Low rank coal of high Moisture (<50%) and low ash (<8%).
Also the increase of Bio Mass and Co-generation capacities Low rank coals have become the order of the day. Also the higher discount prevailing for Low rank coals have encouraged their usage.
Due to the spate of demand for Low ranking coal (<3200 GAR coals with Moisture of up to 50%) Sumatra based LRC suppliers were also targeting Indian market for their exports. In view of this encouraging business Industry is worried and closely watching the proposed Indonesian Govt. policy of banning exports of Low ranking coals.
One of the Indian traders commented that due to good rain resulting in continuous Hydro power, drop in cement and steel demand in India resulted in accumulation of stocks in Indian ports and with the plants. This is the main reason for lower imports in Indonesian coal. However, he also added that, the next 4 months being summer months in India the demand for power, steel and cement increases thereby the movement in coal may be witnessed resulting in higher consumption.
Indonesia already successfully implemented monthly coal reference price for its coal. Coal producers were asked to comply with the government declared index prior to conclude any short term and long terms coal sales agreement with its buyers.
Indonesia’s Ministry of Energy and Mineral Resources has set the March 2011 Indonesian Coal Reference Price for thermal coal at US$ 122.43 per ton, which is 3.63 percent lesser than February 2011 price of US$ 127.05.
Instead of dropped in HBA, Indonesian coal prices were still stand at steady to firm position. small scale mines from Kalimantan were offering 6300 GAD coal between US$ 82 - 87 per MT and premium coal supplier's prices were already in three digits, an international trader said.
According to market stakeholders, the prices may stand stable due to Japan's earth quake, tsunami and nuclear power plants blast, but the prices and demand will move more stronger in coming months.
However, there is sort of confusion prevailing over the price movements as Japanese industries might declare FORCE Majure. The ongoing disturbance in major oil producing countries like Egypt, Libya and Bahrain needs to be taken into account before arriving at the conclusion.
Any time the industry may be attacked by wide fluctuations both sides.
(sourced:coalspot)
Above exportt information within this article is provided by coalspot on an "as is" and "as available” basis. All details about, given in good faith and has been collected from various press reports, organization and individuals considered reliable but without guarantee. While every care has been taken to ensure the accuracy of information furnished in this article. COALspot shall be obliged if errors / omissions are brought to its notice for carrying out corrections in this article.(cs)
If you believe an article violates your rights or the rights of others, please contact us.
Friday, March 11, 2011
Widespread tsunami warning issued after Japan quake
SINGAPORE | Fri Mar 11, 2011 1:57pm IST
SINGAPORE (Reuters) - A tsunami warning has been issued for areas across East Asia and the western coast of South America following a huge earthquake that hit Japan on Friday, the Pacific Tsunami Warning Center said.
Among the countries for which a tsunami warning is in effect are: Russia, Taiwan, the Philippines, Indonesia, Papua New Guinea, Australia, New Zealand, Fiji, Mexico, Guatemala, El Salvador, Costa Rica, Nicaragua, Panama, Honduras, Chile, Ecuador, Colombia and Peru.
The biggest earthquake to hit Japan in 140 years struck the northeast coast on Friday, triggering a 10-metre tsunami that swept away everything in its path, including houses and cars.
By 0800 GMT there had been no reports of a serious tsunami hitting anywhere beyond Japan.
"A tsunami is a series of waves and the first wave may not be the largest," the center said. "The threat can continue for many hours as multiple waves arrive."
(Reporting by Andrew Marshall; Editing by Daniel Magnowski)Among the countries for which a tsunami warning is in effect are: Russia, Taiwan, the Philippines, Indonesia, Papua New Guinea, Australia, New Zealand, Fiji, Mexico, Guatemala, El Salvador, Costa Rica, Nicaragua, Panama, Honduras, Chile, Ecuador, Colombia and Peru.
The biggest earthquake to hit Japan in 140 years struck the northeast coast on Friday, triggering a 10-metre tsunami that swept away everything in its path, including houses and cars.
By 0800 GMT there had been no reports of a serious tsunami hitting anywhere beyond Japan.
"A tsunami is a series of waves and the first wave may not be the largest," the center said. "The threat can continue for many hours as multiple waves arrive."
Tags : Costa Rica, Nicaragua, Panama, Honduras, Chile, Ecuador, Colombia and Peru
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