22 March 2011 at 10:45 IST
BRUSSELS (Commodity Online) : World crude steel production for the 64 countries reporting to the World Steel Association was 117 million metric tons (mmt) in February 2011.
This is 8.8% higher than February 2010, according to a press release.
China’s crude steel production for February 2011 was 54.3 mmt, up 9.7% compared to February 2010. Japan produced 8.9 mmt of crude steel in February 2011, an increase of 5.7% compared to the same month last year. South Korea produced 5.0 mmt of crude steel in February 2011, 25.7% more than February 2010.
In the EU, Germany’s crude steel production for February 2011 was 3.7 mmt, an increase of 7.9% compared to February 2010. Italy’s crude steel production was 2.3 mmt, up 4.9% compared to the same month last year. Spain produced 1.4 mmt of crude steel in February 2011, an increase of 6.4% on February 2010.
Turkey’s crude steel production for February 2011 was 2.5 mmt, an increase of 35.5% compared to February 2010.
The US produced 6.6 mmt of crude steel in February 2011, 5.6% higher than February 2010.
Brazilian crude steel production in February 2011 was 2.7 mmt, an increase of 11.4% on February 2010.
The world crude steel capacity utilisation ratio of the 64 countries in February 2011 was 82.0%, a slight increase from the updated figure of 80.9% for January 2011. Compared to February 2010, the utilisation ratio in February 2011 is 2.7 percentage points higher.
(sourced commodityonline)
Showing posts with label US. Show all posts
Showing posts with label US. Show all posts
Tuesday, March 22, 2011
Sunday, March 13, 2011
US, world coal markets still assessing Japan earthquake impact
Mar13,2011/421 pm EST/2121 GMT
Washington(Platts): International coal markets were mixed on news of Friday's catastrophic earthquake in Japan, even as many participants tried to assess the potential effects of the disaster and resulting tsunamis.
The country imported about 165 million short tons of coal in 2009, making it the largest importer of both steam and metallurgical coal, according to estimates by the International Energy Agency. The quake comes at a time when Pacific coal markets have been particularly sensitive because of flooding and a recent typhoon that has curtailed Australian exports.
Coal market participants in the US and abroad said Friday that it was simply too soon to know how the earthquake might affect the country's coal-importing and coal-burning infrastructure.
The speculation drove up prices as Platts assessed Q2-11 Newcastle coal at $128.25/mt on Friday, up $2.35/mt. (See story, 2023 GMT). Coking coal prices across the Asia-Pacific markets, meanwhile, slipped.
Still, many were keeping an eye on the status of Japan's nuclear power plants, steel mills and import terminals.
"The Japanese are heavily dependent on coal-fired generation," Ted O'Brien, vice president of Doyle Trading Consultants in New York, said. "You could see thermal demand ramp up if there is any structural damage to the nuclear industry, but that is all dependent on their ability to import the coal."
While steel mills could likely continue operating with damage -- or, at least, continue stockpiling coal -- more sensitive nuclear plants had automatically shut down after the 8.9-magnitude quake that hit northeastern Japan at 2:46 p.m. JST (0546 GMT).
All seven units of Tokyo Electric Power's Kashiwazaki-Kariwa 8.2-GW nuclear power plant were shut down after a 2007 quake, the fourth of which was just reopened for commercial operation in February. Eleven of the country's 28 nuclear units had been shut down as of 2:30 p.m. GMT, according to the Nuclear and Industrial Safety Agency of Japan.
Coal accounted for 22% of the country's total energy consumption in 2007, ranking it second behind oil, according to the US Energy Information Administration.
Japanese steel producers, meanwhile, told Platts that at least one plant had been unaffected by the quake; while others had been closed, were operating at reduced rates or could not be reached by telephone. (See story, 1445 GMT)
Lower steel production could mean that coking coal is redirected to other countries, though reconstruction efforts would eventually increase the amount of domestic consumption, market sources said. The country is second only to China in both pig iron and crude steel production.
"That steel production will have to resurface elsewhere around the world and the coking coal demand that would have been taken by Japan would be supplemented by other countries," O'Brien said.
Japan ranked ninth among importers of US coal through the first three quarters of 2010, according to the Energy Information Administration. The 4.1 million short tons it imported from US producers accounted for about 4% of total US coal exports during that time.
--Peter Gartrell, Platts
The country imported about 165 million short tons of coal in 2009, making it the largest importer of both steam and metallurgical coal, according to estimates by the International Energy Agency. The quake comes at a time when Pacific coal markets have been particularly sensitive because of flooding and a recent typhoon that has curtailed Australian exports.
Coal market participants in the US and abroad said Friday that it was simply too soon to know how the earthquake might affect the country's coal-importing and coal-burning infrastructure.
The speculation drove up prices as Platts assessed Q2-11 Newcastle coal at $128.25/mt on Friday, up $2.35/mt. (See story, 2023 GMT). Coking coal prices across the Asia-Pacific markets, meanwhile, slipped.
Still, many were keeping an eye on the status of Japan's nuclear power plants, steel mills and import terminals.
"The Japanese are heavily dependent on coal-fired generation," Ted O'Brien, vice president of Doyle Trading Consultants in New York, said. "You could see thermal demand ramp up if there is any structural damage to the nuclear industry, but that is all dependent on their ability to import the coal."
While steel mills could likely continue operating with damage -- or, at least, continue stockpiling coal -- more sensitive nuclear plants had automatically shut down after the 8.9-magnitude quake that hit northeastern Japan at 2:46 p.m. JST (0546 GMT).
All seven units of Tokyo Electric Power's Kashiwazaki-Kariwa 8.2-GW nuclear power plant were shut down after a 2007 quake, the fourth of which was just reopened for commercial operation in February. Eleven of the country's 28 nuclear units had been shut down as of 2:30 p.m. GMT, according to the Nuclear and Industrial Safety Agency of Japan.
Coal accounted for 22% of the country's total energy consumption in 2007, ranking it second behind oil, according to the US Energy Information Administration.
Japanese steel producers, meanwhile, told Platts that at least one plant had been unaffected by the quake; while others had been closed, were operating at reduced rates or could not be reached by telephone. (See story, 1445 GMT)
Lower steel production could mean that coking coal is redirected to other countries, though reconstruction efforts would eventually increase the amount of domestic consumption, market sources said. The country is second only to China in both pig iron and crude steel production.
"That steel production will have to resurface elsewhere around the world and the coking coal demand that would have been taken by Japan would be supplemented by other countries," O'Brien said.
Japan ranked ninth among importers of US coal through the first three quarters of 2010, according to the Energy Information Administration. The 4.1 million short tons it imported from US producers accounted for about 4% of total US coal exports during that time.
Saturday, February 26, 2011
EUROFER: EU low carbon roadmap 2050 is unacceptable
Friday, 25 February 2011
On February 25, the European Confederation of Iron and Steel Industries (EUROFER) said it is against the EU's draft document ‘Low carbon economy roadmap 2050', which will be put forward for adoption by the European Commission on March 8.
In a statement entitled ‘EU low carbon roadmap 2050 unacceptable/ Japan buries emissions trading', EUROFER said that the adoption of the intended 80-95 reduction in EU emissions by 2050 "will lead to the deindustrialization of Europe."
"The confiscation of allowances from the emissions trading system, as proposed by the roadmap, will have exactly the same effect as a unilateral move to [a reduction of] 30 percent, this is unacceptable," EUROFER said, adding that "the models used by the Commission rely on biased assumptions which systematically underestimate the negative effects on industry and employment," and "for steel where they are technically unachievable."
EUROFER has cited Japan, which following the US and Australia, abandoned the idea of a national emissions trading system recognizing that this would discourage investment, hamper growth, jeopardize the competitive position of its industry and be environmentally counter-productive. "However, as even Japan now has buried its ambitions for an emissions trading system, the EU is completely isolated and should reconsider this concept," reads EUROFER's statement.
Tags: Europe, production, steelmaking, European Union
Saturday, February 19, 2011
WTO issues ruling on China export restraints
Friday,Feb18,2011
* US, EU, Mexico filed case against China in 2009
* Ruling could set precedent for China rare earth curbs
* Decision expected to be made public by early summer (Updates throughout)
WASHINGTON, Feb 18 (Reuters) - The World Trade Organization on Friday issued a confidential preliminary ruling in a landmark case against China's export restrictions on raw materials used to manufacture steel, aluminum and chemical products.
The United States, European Union and Mexico launched the case in 2009, complaining that Chinese export restrictions on minerals such as bauxite and magnesium discriminated against foreign manufacturers and gave an unfair advantage to domestic producers.
Beijing has argued it needed to restrict exports of the raw materials for environmental reasons.
"Under WTO rules, this interim report is confidential and we cannot comment on its contents at this time," said Nefeterius McPherson, a spokeswoman for the U.S. Trade Representative's Office.
"The report will be made public when it is circulated to WTO members. We currently expect the final report to be circulated sometime in late spring or early summer of 2011," McPherson said.
The United States, EU and Mexico argue that China's export curbs violated both general WTO rules and specific commitments that Beijing made when it joined the world trade body in 2001.
The case does not cover China's export restrictions on rare earth minerals used in smart phones, electric car motors and high-tech industrial equipment which have also raised concern in the United States, EU and Japan.
McPherson said there was still a possibility of the United States filing a WTO challenge on that front.
"We have been and remain very concerned about China's systemic use of export restraints," she said.
A former WTO appellate body judge said the ruling will be precedent-setting.
"If the United States prevails in this dispute it would be a very significant ruling related to increasingly widespread phenomenon of export restrictions in world trade," said James Bacchus, now at Greenberg Traurig in Washington.
If China wins, then "other kinds of export restrictions imposed by China and other countries may be protected by environmental defenses as well," Bacchus said.
China argues that it must restrict the production and export of the raw materials in the WTO dispute and rare earths to protect the environment and conserve its own resources.
(Reporting by Doug Palmer; Editing by Vicki Allen,sourced:Thomson Reuters)
* US, EU, Mexico filed case against China in 2009
* Ruling could set precedent for China rare earth curbs
* Decision expected to be made public by early summer (Updates throughout)
WASHINGTON, Feb 18 (Reuters) - The World Trade Organization on Friday issued a confidential preliminary ruling in a landmark case against China's export restrictions on raw materials used to manufacture steel, aluminum and chemical products.
The United States, European Union and Mexico launched the case in 2009, complaining that Chinese export restrictions on minerals such as bauxite and magnesium discriminated against foreign manufacturers and gave an unfair advantage to domestic producers.
Beijing has argued it needed to restrict exports of the raw materials for environmental reasons.
"Under WTO rules, this interim report is confidential and we cannot comment on its contents at this time," said Nefeterius McPherson, a spokeswoman for the U.S. Trade Representative's Office.
"The report will be made public when it is circulated to WTO members. We currently expect the final report to be circulated sometime in late spring or early summer of 2011," McPherson said.
The United States, EU and Mexico argue that China's export curbs violated both general WTO rules and specific commitments that Beijing made when it joined the world trade body in 2001.
The case does not cover China's export restrictions on rare earth minerals used in smart phones, electric car motors and high-tech industrial equipment which have also raised concern in the United States, EU and Japan.
McPherson said there was still a possibility of the United States filing a WTO challenge on that front.
"We have been and remain very concerned about China's systemic use of export restraints," she said.
A former WTO appellate body judge said the ruling will be precedent-setting.
"If the United States prevails in this dispute it would be a very significant ruling related to increasingly widespread phenomenon of export restrictions in world trade," said James Bacchus, now at Greenberg Traurig in Washington.
If China wins, then "other kinds of export restrictions imposed by China and other countries may be protected by environmental defenses as well," Bacchus said.
China argues that it must restrict the production and export of the raw materials in the WTO dispute and rare earths to protect the environment and conserve its own resources.
(Reporting by Doug Palmer; Editing by Vicki Allen,sourced:Thomson Reuters)
ArcelorMittal and Nunavut now own 93 percent of Baffinland, offer expires
Friday,Feb18,2011 16:38:38 (GMT+2)
Luxembourg-based steelmaking goliath ArcelorMittal and Canada-based Nunavut Iron Ore Acquisition Inc. (Nunavut Iron), a subsidiary of US-based Iron Ore Holdings LP, have announced the expiration of their joint offer to takeover Canadian miner Baffinland Iron Mines Corporation (Baffinland) as of February 17. The companies now own 93 percent of Baffinland through their C$590 million ($593 million) joint offer.
The offer sought all shares of the company for C$1.50 (US$1.51) in cash per common share. Under the joint offer, ArcelorMittal and Nunavut Iron would own 70 percent and 30 percent share of Baffinland respectively.
The companies decided to cooperate on January 14, following various rival bids to acquire Baffinland.
C$4 billion project
Baffinland's Mary River project has proven reserves of about 365 million metric tons of ore, grading an average of 65 percent iron, and about 500 million mt of ore resources. For some months now Baffinland has been looking for partners for the C$4 billion (US$4.02 billion) project, which is expected to produce 18 million mt per year.
ArcelorMittal has already received the necessary approvals for acquisition from local authorities, also valid for the joint offer.
(sourced:steelorbis)
Tags: iron ore , raw material , USA , Luxembourg , Canada , Europe , European Union , North America , mining , M&A , ArcelorMittal , Pellets , Lump ore , Fine ore
Luxembourg-based steelmaking goliath ArcelorMittal and Canada-based Nunavut Iron Ore Acquisition Inc. (Nunavut Iron), a subsidiary of US-based Iron Ore Holdings LP, have announced the expiration of their joint offer to takeover Canadian miner Baffinland Iron Mines Corporation (Baffinland) as of February 17. The companies now own 93 percent of Baffinland through their C$590 million ($593 million) joint offer.
The offer sought all shares of the company for C$1.50 (US$1.51) in cash per common share. Under the joint offer, ArcelorMittal and Nunavut Iron would own 70 percent and 30 percent share of Baffinland respectively.
The companies decided to cooperate on January 14, following various rival bids to acquire Baffinland.
C$4 billion project
Baffinland's Mary River project has proven reserves of about 365 million metric tons of ore, grading an average of 65 percent iron, and about 500 million mt of ore resources. For some months now Baffinland has been looking for partners for the C$4 billion (US$4.02 billion) project, which is expected to produce 18 million mt per year.
ArcelorMittal has already received the necessary approvals for acquisition from local authorities, also valid for the joint offer.
(sourced:steelorbis)
Tags: iron ore , raw material , USA , Luxembourg , Canada , Europe , European Union , North America , mining , M&A , ArcelorMittal , Pellets , Lump ore , Fine ore
Monday, February 14, 2011
US takes two China trade disputes to WTO
Monday, Feb14, 2011WASHINGTON (AFP) – The United States said Friday it had taken trade disputes with China over US steel imports and electronic payment services to the World Trade Organization.
The US requested the Geneva-based WTO to establish two panels to settle the disputes, US Trade Representative Ron Kirk said in a statement.
The WTO action marked an escalation in the long-running list of trade disputes between the world's largest economy and its fast-growing Asian rival.
One case addresses China's imposition of antidumping duties and countervailing duties on imports of grain-oriented flat-rolled electrical steel from the United States, the statement said.
The other case challenges China's allegedly discriminatory and restrictive treatment of US suppliers of electronic payment services.
Previous US attempts to resolve the two disputes directly with China had failed, the USTR said.
"We are troubled by the procedures and decision-making employed by China in its trade remedy investigations, which have now led to serious restrictions on exports of American steel," Kirk said.
"We also remain deeply concerned about China's continuing efforts to reserve its domestic payment card market for one state-owned enterprise, to the exclusion of American credit and debit card companies."
Kirk said that in each of those disputes, the "USTR will be pressing to ensure that we obtain the trade benefits provided by the WTO agreement, in particular the American jobs and economic growth at stake as a result of China's actions."
The US accuses China of flouting WTO rules in applying additional duties on imports of the electrical steel, used by the power-generating industry in transformers, reactors, and other large electric machines.
China imposed duties on specific steel imports in April 2009, saying the American steel had been dumped -- sold at less than fair market value -- into its market and was subsidized.
The USTR said that China?s antidumping and subsidy determinations in the case appeared to violate numerous WTO requirements, including initiating the proceedings "without sufficient evidence" and failing to disclose "essential facts" underlying its conclusions.
"We have watched with growing concern China's resort to additional duties on US exports," Kirk said.
"It is important to ensure that China is held to the WTO rules and so prevent any unjustified duties from affecting hundreds of millions of dollars of US steel exports to China," he added.
The two largest US manufacturers of electrical steel are in the struggling "rust belt": AK Steel Corporation, based in Ohio, and Allegheny Ludlum, based in Pennsylvania.
In the second case, the US accused China of creating a "national champion" to monopolize the country's operation of electronic payment transactions, which it estimated was worth several hundred billion dollars in 2010.
While most of the world's top providers of electronic payment services for credit and debit cards are headquartered in the United States, the USTR said, China prohibits foreign suppliers from handling the typical payment card transaction in China.
"China's regulator of electronic payment services, the People's Bank of China, has issued a series of measures -- dating back to 2001 -- that provide a Chinese domestic entity, China UnionPay (CUP), with a monopoly over the handling of domestic currency payment card transactions in China while excluding other potential suppliers," the US trade office said.
Sunday, February 13, 2011
Coal India to import tens of millions of tons of coal under long-term supply deals
bySayeh Tavangar,
Coal Trader International
Feb7,2011
Coal India Limited is putting the finishing touches to a long-term coal supply contract framework that could see it purchase tens of millions of tons of imported thermal coal from Australia, Indonesia, South Africa and the US from a list of pre-selected coal suppliers for delivery starting in April, according to sources in the Indian market.
The Kolkata-based Indian coal producer is assembling a panel of coal suppliers, each able to supply Coal India with a minimum of 1 million mt/year of imported thermal coal under the terms of its 10-year Long Term Off-take of Coal contract framework.
Coal India has already drawn-up a short-list of potential coal suppliers from parties that responded to its request for expressions of interest last August.
These short-listed suppliers have now been invited by Coal India to participate in the second round of its panel selection process which is currently underway.
Companies that were successful in qualifying for the second selection stage have been sent copies of Coal India's draft Contract for Long Term Off-take of Coal (CLTO) and have been asked to comment on its proposals.
In its CLTO document, Coal India said its objective is to "select companies for entering into a CLTO for a period of 10 years for the supply of thermal coal for the generation of power for any or all of the four countries namely; Australia, USA, Indonesia and South Africa."
A final draft of Coal India's coal supply tender document is expected to be released to interested parties within one week, according to a market source.
Tender evaluated on an CFR India basis Importantly, Coal India said its long-term coal supply contracts are "expected to be finalized at a price less than the prevailing import price." All price offers for the tender will be evaluated on a cost and freight (CFR) India basis, the document said.
"The purpose of such a CLTO is to insulate [Indian] consumers from any international price volatility and secure the quantities for a period of 10 years," Coal India's document said.
Offers into the Coal India tender are to be grouped into 16 categories, eight for high calorific value coal (i.e. more than 5,500 kcal/kg GAR) and eight for medium cv coal (which it defines as between 4,000-5,500 kcal/kg GAR).
Coal from each of the four countries of origin specified in the tender document are to be quoted for delivery to both the east and west coasts of India.
Coal India will identify lowest-price bids on a C&F India basis in each of its 16 bid categories, said the document.
Suppliers that are successful in the tender will be asked to provide Coal India with a minimum quantity of 1 million mt/year of imported thermal coal, starting delivery in April 2011 through to March 2021, adding up to a total of 10 million mt over the 10-year period of each supply contract.
Prices for the coal supplied to Coal India under each 10-year deal will be linked to price indices for Richards Bay and Newcastle coal, the document said.
Coal India could potentially purchase up to 25 million mt/year of coal under its long-term coal supply contract framework, adding up to a total of 250 million mt over the 10-year term of the CLTO tender, according to one market source. Other market sources said the quantity of coal purchased in the tender could add up to tens of millions of tons.
India's minister for coal, Sriprakash Jaiswal reportedly told an Indian conference February 3 that India was facing a growing gap in its supply of coal that could reach 142 million mt in the financial year to March 2012 and 200 million mt in the year thereafter.
Mike Cooper, (sourced:Platts)
Coal Trader International
Feb7,2011
Coal India Limited is putting the finishing touches to a long-term coal supply contract framework that could see it purchase tens of millions of tons of imported thermal coal from Australia, Indonesia, South Africa and the US from a list of pre-selected coal suppliers for delivery starting in April, according to sources in the Indian market.
The Kolkata-based Indian coal producer is assembling a panel of coal suppliers, each able to supply Coal India with a minimum of 1 million mt/year of imported thermal coal under the terms of its 10-year Long Term Off-take of Coal contract framework.
Coal India has already drawn-up a short-list of potential coal suppliers from parties that responded to its request for expressions of interest last August.
These short-listed suppliers have now been invited by Coal India to participate in the second round of its panel selection process which is currently underway.
Companies that were successful in qualifying for the second selection stage have been sent copies of Coal India's draft Contract for Long Term Off-take of Coal (CLTO) and have been asked to comment on its proposals.
In its CLTO document, Coal India said its objective is to "select companies for entering into a CLTO for a period of 10 years for the supply of thermal coal for the generation of power for any or all of the four countries namely; Australia, USA, Indonesia and South Africa."
A final draft of Coal India's coal supply tender document is expected to be released to interested parties within one week, according to a market source.
Tender evaluated on an CFR India basis Importantly, Coal India said its long-term coal supply contracts are "expected to be finalized at a price less than the prevailing import price." All price offers for the tender will be evaluated on a cost and freight (CFR) India basis, the document said.
"The purpose of such a CLTO is to insulate [Indian] consumers from any international price volatility and secure the quantities for a period of 10 years," Coal India's document said.
Offers into the Coal India tender are to be grouped into 16 categories, eight for high calorific value coal (i.e. more than 5,500 kcal/kg GAR) and eight for medium cv coal (which it defines as between 4,000-5,500 kcal/kg GAR).
Coal from each of the four countries of origin specified in the tender document are to be quoted for delivery to both the east and west coasts of India.
Coal India will identify lowest-price bids on a C&F India basis in each of its 16 bid categories, said the document.
Suppliers that are successful in the tender will be asked to provide Coal India with a minimum quantity of 1 million mt/year of imported thermal coal, starting delivery in April 2011 through to March 2021, adding up to a total of 10 million mt over the 10-year period of each supply contract.
Prices for the coal supplied to Coal India under each 10-year deal will be linked to price indices for Richards Bay and Newcastle coal, the document said.
Coal India could potentially purchase up to 25 million mt/year of coal under its long-term coal supply contract framework, adding up to a total of 250 million mt over the 10-year term of the CLTO tender, according to one market source. Other market sources said the quantity of coal purchased in the tender could add up to tens of millions of tons.
India's minister for coal, Sriprakash Jaiswal reportedly told an Indian conference February 3 that India was facing a growing gap in its supply of coal that could reach 142 million mt in the financial year to March 2012 and 200 million mt in the year thereafter.
Mike Cooper, (sourced:Platts)
Wednesday, February 9, 2011
Deals of the day -- mergers and acquisitions
Wed Feb 9, 2011 10:30am GMT
Feb 9 (Reuters) - The following bids, mergers, acquisitions and disposals involving European, U.S. and Asian companies were reported by 1000 GMT on Wednesday.
(For Reuters columns on deals, click on
** The London Stock Exchange (LSE.L: Quote) is to buy the owner of the Toronto Stock Exchange TMX Group (X.TO: Quote) in an all share deal that will create a mining-dominant exchange at a time of rising commodity prices.
** Millhouse LLC, the investment company of Russian billionaire Roman Abramovich, said on Wednesday it has sold a 25 percent stake in the country's main state-run television channel to the National Media Group. The price of the sale of the stake in Channel One was not disclosed, but business daily Kommersant reported the group paid Millhouse $150 million.
** CSN (CSNA3.SA: Quote), Brazil's largest diversified steelmaking group, has raised its stake in Australian miner Riversdale (RIV.AX: Quote) which is subject to a $3.9 billion takeover bid from global miner Rio Tinto (RIO.AX: Quote) (RIO.L: Quote). To read more, please double click on
** Australia's Centro Properties Group (CNP.AX: Quote) has narrowed down bidders for its $9.5 billion U.S. shopping mall assets to three consortiums, including private equity firm Blackstone Group (BX.N: Quote), a source said.
** Billionaire investor Wilbur Ross is considering joining in an effort to buy oil and gas company Exco Resources Inc (XCO.N: Quote), according to a regulatory filing.
** Footwear retailer DSW Inc (DSW.N: Quote) said it agreed to merge with its largest shareholder Retail Ventures Inc (RVI.N: Quote) in an all-stock deal, and raised its full-year outlook.(By Aditi Sharma,Bangalore & Tina Kwan, Singapore)
Feb 9 (Reuters) - The following bids, mergers, acquisitions and disposals involving European, U.S. and Asian companies were reported by 1000 GMT on Wednesday.
(For Reuters columns on deals, click on
** The London Stock Exchange (LSE.L: Quote) is to buy the owner of the Toronto Stock Exchange TMX Group (X.TO: Quote) in an all share deal that will create a mining-dominant exchange at a time of rising commodity prices.
** Millhouse LLC, the investment company of Russian billionaire Roman Abramovich, said on Wednesday it has sold a 25 percent stake in the country's main state-run television channel to the National Media Group. The price of the sale of the stake in Channel One was not disclosed, but business daily Kommersant reported the group paid Millhouse $150 million.
** CSN (CSNA3.SA: Quote), Brazil's largest diversified steelmaking group, has raised its stake in Australian miner Riversdale (RIV.AX: Quote) which is subject to a $3.9 billion takeover bid from global miner Rio Tinto (RIO.AX: Quote) (RIO.L: Quote). To read more, please double click on
** Australia's Centro Properties Group (CNP.AX: Quote) has narrowed down bidders for its $9.5 billion U.S. shopping mall assets to three consortiums, including private equity firm Blackstone Group (BX.N: Quote), a source said.
** Billionaire investor Wilbur Ross is considering joining in an effort to buy oil and gas company Exco Resources Inc (XCO.N: Quote), according to a regulatory filing.
** Footwear retailer DSW Inc (DSW.N: Quote) said it agreed to merge with its largest shareholder Retail Ventures Inc (RVI.N: Quote) in an all-stock deal, and raised its full-year outlook.(By Aditi Sharma,Bangalore & Tina Kwan, Singapore)
Sunday, February 6, 2011
JAPANESE COAL IMPORTS
Feb4, 2011
Japanese imports of coal in December totalled 16.0 Mt which represented a month-on-month increase of 0.7 Mt to the highest amount since August, trade data show. On an annual basis, coal imports in 2010 were 14% higher year-on-year at 184.6 Mt due to increases in imports of coking coal (+17% at 76.7 Mt), thermal coal (+11% at 101.7 Mt) and anthracite coal (+48% at 6.2 Mt). Australia remained the largest supplier of coal to Japan at 117.5 Mt, (+14% year-on-year) while shipments from the US jumped 263% to 3.1 Mt.
(sourced:SSY news)
Japanese imports of coal in December totalled 16.0 Mt which represented a month-on-month increase of 0.7 Mt to the highest amount since August, trade data show. On an annual basis, coal imports in 2010 were 14% higher year-on-year at 184.6 Mt due to increases in imports of coking coal (+17% at 76.7 Mt), thermal coal (+11% at 101.7 Mt) and anthracite coal (+48% at 6.2 Mt). Australia remained the largest supplier of coal to Japan at 117.5 Mt, (+14% year-on-year) while shipments from the US jumped 263% to 3.1 Mt.
(sourced:SSY news)
Wednesday, February 2, 2011
Australia Whitehaven bids due Wednesday, some suitors drop out -sources
Wed Feb 2, 2011 6:00am GMT
SYDNEY Feb 2 (Reuters) - Australia's Whitehaven Coal expects to receive non-binding offers from Chinese, Indian and Korean parties but several potential suitors have dropped out of the process as bidders raise concern about price, sources said on Wednesday.
Indicative bids for Whitehaven which put itself up for auction in October, were due on Wednesday, the sources said. Whitehaven is valued at about $3.5 billion at current share prices.
However, China's Yanzhou Coal Mining Co and major shareholder Alpha Natural Resources were not expected to lodge bids, two sources familiar with the matter said.
Whitehaven declined to comment.
Whitehaven has declined to name the parties it has been talking to but U.S. miner Peabody Energy and China's state-run Shenhua Group were expected to bid. There was interest from a number of Indian, Chinese and Korean bidders, one source said. (Reporting by Michael Smith; Editing by Ed Davies,sourced:Thomson Reuters)
Tuesday, February 1, 2011
Indian coking coal imports increase in 2010, 33% YoY JUMP
Tuesday, Feb 01, 2011
India imported 36.1 million tonnes of coking coal in 2010, a 33% year-on-year jump, according to The Salva Report.
Australia was by far the biggest supplier of coking coal to the Asian nation, contributing 84% with US imports accounting for 5%, New Zealand 3% and South Africa 2.3%, Salva Reports.
Indian thermal coal imports for Nov dropped to 5.3 million tonnes, from the record 6.4 million tonnes imported in October, according to Salva which said the fall could be attributed to increased domestic production throughout October and the rising cost of imported thermal coal.
India imported 36.1 million tonnes of coking coal in 2010, a 33% year-on-year jump, according to The Salva Report.
Australia was by far the biggest supplier of coking coal to the Asian nation, contributing 84% with US imports accounting for 5%, New Zealand 3% and South Africa 2.3%, Salva Reports.
Indian thermal coal imports for Nov dropped to 5.3 million tonnes, from the record 6.4 million tonnes imported in October, according to Salva which said the fall could be attributed to increased domestic production throughout October and the rising cost of imported thermal coal.
MEPS announces global crude steel output forecast for 2011
Tuesday, 01 Feb 2011
MEPS estimates world steel output, in 2010, at just over 1.4 billion tonnes. This equates to a rise of over 190 million tonnes as compared with 2009. China, Japan and the US have contributed over 50% of the growth. Steel production in Germany and South Korea has also shown significant expansion.
The majority of countries have recorded double digit percentage rises in 2010 relative to 2009. The largest of these are found in the more economically developed regions like European Union, North America and Oceania, whose markets declined the most in the downturn of 2009.
The economic outlook for 2011 is cautiously optimistic. In the West, certain sectors of the economy are performing well. However, the construction market remains depressed and this continues to dampen demand for steel, especially long products. Government spending cuts and the fragile financial situation could pose further negative risks.
In 2011, strong growth in steel production is expected in South America and the Middle East. Although the impact of this will be relatively small on the world total when compared to the dominance of China. Gains in the industrialized nations are likely to be modest. MEPS forecasts a YoY increase of approximately 4.4% for global steel production in 2012.
MEPS global crude steel production forecast.
MEPS estimates world steel output, in 2010, at just over 1.4 billion tonnes. This equates to a rise of over 190 million tonnes as compared with 2009. China, Japan and the US have contributed over 50% of the growth. Steel production in Germany and South Korea has also shown significant expansion.
The majority of countries have recorded double digit percentage rises in 2010 relative to 2009. The largest of these are found in the more economically developed regions like European Union, North America and Oceania, whose markets declined the most in the downturn of 2009.
The economic outlook for 2011 is cautiously optimistic. In the West, certain sectors of the economy are performing well. However, the construction market remains depressed and this continues to dampen demand for steel, especially long products. Government spending cuts and the fragile financial situation could pose further negative risks.
In 2011, strong growth in steel production is expected in South America and the Middle East. Although the impact of this will be relatively small on the world total when compared to the dominance of China. Gains in the industrialized nations are likely to be modest. MEPS forecasts a YoY increase of approximately 4.4% for global steel production in 2012.
MEPS global crude steel production forecast.
| Region | 2010 (e) | 2011 (f) |
| EU 27 | 172.9 | 178.2 |
| Americas | 155.3 | 162.1 |
| Asia | 900.2 | 948.3 |
| Others | 186.7 | 196.5 |
| World Total | 1415.0 | 1485.0 |
In million tonnes
(e) - Estimate
(f) - Forecast
(Sourced from MEPS - World Steel Outlook)
Wednesday, January 26, 2011
ArcelorMittal on course to seize Baffinland
Tuesday, January 25, 2011 TORONTO (Reuters) - A majority of shareholders Baffinland Iron endorsed the offer of 590 million Canadian dollars (434 million) and Nunavut ArcelorMittal, announced Tuesday the specialist steel.
ArcelorMittal said it had collected 61% of the shares Baffinland through this joint operation with Nunavut Iron and supported by a fund of U.S. investment capital.
The offer is conditional upon obtaining at least two-thirds of the capital Baffinland, said ArcelorMittal in a statement.
ArcelorMittal said it had collected 61% of the shares Baffinland through this joint operation with Nunavut Iron and supported by a fund of U.S. investment capital.
The offer is conditional upon obtaining at least two-thirds of the capital Baffinland, said ArcelorMittal in a statement.
After four months of battle, ArcelorMittal and Nunavut joined earlier this month to propose a joint bid on Baffinland, which has vast reserves of iron ore in the Canadian Arctic.
Under the agreement between the former rivals, ArcelorMittal will acquire all of Baffinland. The group's capital will then be divided between the two groups, 70% for Arcelor, the remainder returning to Nunavut.
The joint bid for $ 1.50 Canadian per share expired at midnight Monday. It was extended to February 4 to allow time for other shareholders to tender their shares.
"They hold the right end, so I think that shareholders should consider subscribing to the offer by the new deadline," said Peter Campbell, an analyst in the mining sector with Jennings Capital in Toronto.
"I think there is really no reason not to."
With this transaction, ArcelorMittal would be less dependent on major producers of iron ore, like BHP Billiton and Vale, to supply its mills. (sourced:Reuters)
Friday, January 7, 2011
Metallurgical Coal Prices shipped from the USA during 1996 to 2010
Steelmaking input costs - historic price trends
Coking coal export prices
Year/Month Coking Coal$/ton
1996 Q1 $46.28
1996 Q2 $45.73
1996 Q3 $45.08
1996 Q4 $44.95
1997 Q1 $46.60
1997 Q2 $45.58
1997 Q3 $44.73
1997 Q4 $44.96
1998 Q1 $46.09
1998 Q2 $44.65
1998 Q3 $43.93
1998 Q4 $43.46
1999 Q1 $44.87
1999 Q2 $41.97
1999 Q3 $40.29
1999 Q4 $40.20
2000 Q1 $40.49
2000 Q2 $38.20
2000 Q3 $39.53
2000 Q4 $37.67
2001 Q1 $39.25
2001 Q2 $40.12
2001 Q3 $43.19
2001 Q4 $44.74
2002 Q1 $46.82
2002 Q2 $44.24
2002 Q3 $45.33
2002 Q4 $45.70
2003 Q1 $46.34
2003 Q2 $44.62
2003 Q3 $43.10
2003 Q4 $43.99
2004 Q1 $54.10
2004 Q2 $65.32
2004 Q3 $67.33
2004 Q4 $68.43
2005 Q1 $73.65
2005 Q2 $81.27
2005 Q3 $85.92
2005 Q4 $85.98
2006 Q1 $91.90
2006 Q2 $90.08
2006 Q3 $90.65
2006 Q4 $90.70
2007 Q1 $91.81
2007 Q2 $86.49
2007 Q3 $87.99
2007 Q4 $90.19
2008 Q1 $98.90
2008 Q2 $129.91
2008 Q3 $149.30
2008 Q4 $156.65
2009 Q1 $133.86
2009 Q2 $115.25
2009 Q3 $111.64
2009 Q4 $112.91
2010 Q1 $117.36
2010 Q2 $143.7
Coking coal export prices
Year/Month Coking Coal$/ton
1996 Q1 $46.28
1996 Q2 $45.73
1996 Q3 $45.08
1996 Q4 $44.95
1997 Q1 $46.60
1997 Q2 $45.58
1997 Q3 $44.73
1997 Q4 $44.96
1998 Q1 $46.09
1998 Q2 $44.65
1998 Q3 $43.93
1998 Q4 $43.46
1999 Q1 $44.87
1999 Q2 $41.97
1999 Q3 $40.29
1999 Q4 $40.20
2000 Q1 $40.49
2000 Q2 $38.20
2000 Q3 $39.53
2000 Q4 $37.67
2001 Q1 $39.25
2001 Q2 $40.12
2001 Q3 $43.19
2001 Q4 $44.74
2002 Q1 $46.82
2002 Q2 $44.24
2002 Q3 $45.33
2002 Q4 $45.70
2003 Q1 $46.34
2003 Q2 $44.62
2003 Q3 $43.10
2003 Q4 $43.99
2004 Q1 $54.10
2004 Q2 $65.32
2004 Q3 $67.33
2004 Q4 $68.43
2005 Q1 $73.65
2005 Q2 $81.27
2005 Q3 $85.92
2005 Q4 $85.98
2006 Q1 $91.90
2006 Q2 $90.08
2006 Q3 $90.65
2006 Q4 $90.70
2007 Q1 $91.81
2007 Q2 $86.49
2007 Q3 $87.99
2007 Q4 $90.19
2008 Q1 $98.90
2008 Q2 $129.91
2008 Q3 $149.30
2008 Q4 $156.65
2009 Q1 $133.86
2009 Q2 $115.25
2009 Q3 $111.64
2009 Q4 $112.91
2010 Q1 $117.36
2010 Q2 $143.7
Figures above are average quarterly export prices for metallurgical coal ('coking coal'; 'met coal') shipped from the USA expressed in USD per short ton on an f.a.s. basis [free alongside ship]. To see domestic US coking coal prices and / or other commodity price data including thermal coal, iron ore, ferrous scrap, natural gas and electricity prices, see our commodity prices page.
Source: all figures above are courtesy of the EIA
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