Monday, 19 Mar 2012
Fortescue Metals Group chief executive Mr Nev Power sees iron ore prices holding between USD 120 and USD 150 per tonne in the near term, on Thursday after the company raised USD 2 billion to help fund a tripling in its iron ore capacity.
Source - Reuters
Showing posts with label data. Show all posts
Showing posts with label data. Show all posts
Monday, March 19, 2012
Saturday, March 17, 2012
SA bulk export volumes dropped by 21.2pct MoM in February
Saturday, 17 Mar 2012
Transnet National Ports Authority data showed on March 13th 2012 that SA's bulk export volumes dropped by 21.2% MoM in February 2012 from January 2012 as mostly iron ore exports out of Saldanha slumped by 48.6% MoM to 2,571,174 tonnes.
Although 2012 is a leap year, there were still only 29 days in February 2012 compared with 31 days in January 2012, so ports had 6.5% less time to load goods. That is why the YoY comparison makes more sense, but weather can also disrupt port operations such as the recent Cyclone Irina.
The YoY change in February 2012 was a 9.4% drop to 10.651 million tonnes after January's 28.1% YoY surge to 13.513 tonnes. The high YoY growth rate is in part due to poor weather in January 2011 that disrupted port operations.
Bulk exports rose by 6.6% in 2011 to a record 141.493 tonnes after a 9.0% jump in 2010. The YoY increase in the first two months of 2012 was 8.3%.
The slower growth last year was in part due to weather related disruptions as well as cable theft on the Mpumalanga Richards Bay coal line, which has resulted in derailments and other disruptions to traffic.
The coal line was closed for 20 days in May and June 2011 to do necessary maintenance and in October exports out of Richards Bay exceeded 8 million tonnes or an annualized 96 million tonnes, but this eased to 7.3 million tonnes in November 2011 before rising to 7.5 million tonnes in December 2011 and 7.7 million tonnes or an annualized 92 million tonnes in January 2012. In February 2012 Richards Bay shipped 7 million tonnes and shipments for the first two months are up 22.8% YoY.
In 2011, shipments out of Richards Bay, which are mostly coal, disappointed with a 1.4% rise to 76 million tonnes in 2011, while mostly iron ore shipments out of Saldanha Bay increased by 12.3% to 53.3 Mt. In January 2012 the y/y increases were 34.4% and 25.0% respectively, indicating that demand for these commodities remains very strong despite the global growth concerns.
The star performer last year was agricultural and manganese exports out of the other South African ports, such as Durban and Port Elizabeth, which jumped by 18.7% to 12.2 million tonnes, but in January 2012 there was a small 1.8% YoY decline to 0.8 million tonnes, while February 2012 saw a larger 8.5% YoY decline.
The majority of bulk exports go to Asia as China, India and Japan require South African coal and iron ore to feed their steel mills and thermal coal power stations.
As nuclear power stations in Japan have reduced their output after the March 2011 earthquake, Japan requires more coal to burn in their thermal power stations.
Source - Net Bridge
Transnet National Ports Authority data showed on March 13th 2012 that SA's bulk export volumes dropped by 21.2% MoM in February 2012 from January 2012 as mostly iron ore exports out of Saldanha slumped by 48.6% MoM to 2,571,174 tonnes.
Although 2012 is a leap year, there were still only 29 days in February 2012 compared with 31 days in January 2012, so ports had 6.5% less time to load goods. That is why the YoY comparison makes more sense, but weather can also disrupt port operations such as the recent Cyclone Irina.
The YoY change in February 2012 was a 9.4% drop to 10.651 million tonnes after January's 28.1% YoY surge to 13.513 tonnes. The high YoY growth rate is in part due to poor weather in January 2011 that disrupted port operations.
Bulk exports rose by 6.6% in 2011 to a record 141.493 tonnes after a 9.0% jump in 2010. The YoY increase in the first two months of 2012 was 8.3%.
The slower growth last year was in part due to weather related disruptions as well as cable theft on the Mpumalanga Richards Bay coal line, which has resulted in derailments and other disruptions to traffic.
The coal line was closed for 20 days in May and June 2011 to do necessary maintenance and in October exports out of Richards Bay exceeded 8 million tonnes or an annualized 96 million tonnes, but this eased to 7.3 million tonnes in November 2011 before rising to 7.5 million tonnes in December 2011 and 7.7 million tonnes or an annualized 92 million tonnes in January 2012. In February 2012 Richards Bay shipped 7 million tonnes and shipments for the first two months are up 22.8% YoY.
In 2011, shipments out of Richards Bay, which are mostly coal, disappointed with a 1.4% rise to 76 million tonnes in 2011, while mostly iron ore shipments out of Saldanha Bay increased by 12.3% to 53.3 Mt. In January 2012 the y/y increases were 34.4% and 25.0% respectively, indicating that demand for these commodities remains very strong despite the global growth concerns.
The star performer last year was agricultural and manganese exports out of the other South African ports, such as Durban and Port Elizabeth, which jumped by 18.7% to 12.2 million tonnes, but in January 2012 there was a small 1.8% YoY decline to 0.8 million tonnes, while February 2012 saw a larger 8.5% YoY decline.
The majority of bulk exports go to Asia as China, India and Japan require South African coal and iron ore to feed their steel mills and thermal coal power stations.
As nuclear power stations in Japan have reduced their output after the March 2011 earthquake, Japan requires more coal to burn in their thermal power stations.
Source - Net Bridge
Monday, March 5, 2012
JSW Crude Steel production up by 13%
March05, 2012
Mumbai : JSW Steel Limited, one of the lowest cost steel producers, reported monthly Crude Steel production of 6.10 lac tons in February 2012, showing a growth of 13% over corresponding month of previous year.
The cumulative crude steel production for 11 months of the financial year was 6.77 million tones with a growth of 15% over previous period. The company produced 6.10 lakh ton crude steel in February this year compared to 5.410 lakh ton last year; a growth of 13%.
Rolled Products (Flat) saw a growth of 1% with 4.47 lakh ton production this year compared to 4.42 lakh ton last year. Rolled Products (Long) saw a growth of 103% with 1.52 lakh ton production this year compared to 0.75 lakh ton last year.
Seshagiri Rao, Joint Managing Director and Group CFO said, “The Crude steel production during February 2012 was severely impacted due to usage of inferior grades of Iron ore. As the stock pile of 25 million tonnes is getting exhausted, the quality of iron ore being offered in E-auction is deteriorating substantially.
"Further certain iron ore in E-auctions contained high Alumina, Silica, Manganese and Low Fe, which led to poor Sinter quality, high slag formation and low productivity in the Blast Furnaces.” "The quantity of iron ore sold in the E-auction during entire month of February 2012 was only 1.17 million tonnes in all 6 E-auctions together as against the industry requirement of 3 million tons per month.
"Even after paying higher prices in E-auctions, the availability of quality iron ore is a challenge, threatening the continuation of steel production efficiently," he said. Steel industry in Karnataka region, therefore, is not only facing shortage of iron ore but poor quality of iron ore is impacting the equipment, productivity and efficiency, said the company.
(sourced: IndiaBlooms.com)
Indonseia coal mining profits too high - Minister
Monday, 05 Mar 2012
Indonesia energy and mineral resources deputy minister Widjajono Partowidagdo has criticized coal mining companies for taking too much profit. He said that the profits of these companies reached 66% of total production, while the state only receives 34% of the profit.
He said that “That’s too much. It’s different with the oil and gas industries that provide benefits for the state and the public.”
He added that This condition has led to rapid growth in the mining industry and the high production profit has also seen many Indonesian grow rich, he said. “Look at the list of the richest people in Indonesia according to Forbes magazine. Almost all of them are in the coal mining sector.”
As such, Mr Widjajono said the regulation on profit sharing in the coal mining sector between the government and contractor companies must be revised. He said the Energy Ministry was now drafting a formula for coal mine profit sharing between coal companies and the state.
source:Tempointeractive.co
Indonesia energy and mineral resources deputy minister Widjajono Partowidagdo has criticized coal mining companies for taking too much profit. He said that the profits of these companies reached 66% of total production, while the state only receives 34% of the profit.
He said that “That’s too much. It’s different with the oil and gas industries that provide benefits for the state and the public.”
He added that This condition has led to rapid growth in the mining industry and the high production profit has also seen many Indonesian grow rich, he said. “Look at the list of the richest people in Indonesia according to Forbes magazine. Almost all of them are in the coal mining sector.”
As such, Mr Widjajono said the regulation on profit sharing in the coal mining sector between the government and contractor companies must be revised. He said the Energy Ministry was now drafting a formula for coal mine profit sharing between coal companies and the state.
source:Tempointeractive.co
Sunday, March 4, 2012
Indonesian thermal coal output seen up by 8.3pct in 2012
Sunday, 04 Mar 2012
Reuters Recorder reported that thermal coal output in the world's top exporter Indonesia is seen rising 8.3% in 2012 as miners increase production to take advantage of strong prices.
Mr Bob Kamandanu chairman of the Indonesian Coal Mining Association said that Indonesia's thermal coal production will be 390 million tonnes in 2012 versus 360 million tonnes in 2011.
Mr Kamandanu had previously estimated 2011 coal output at 354 million tonnes, up from 320 million tonnes in 2010.
Australian thermal coal on the globalCOAL Newcastle index, the benchmark for Asian coal, closed at AUD 116.55 a tonne on March 2nd 2012.
Weaker demand has kept a lid on thermal coal prices in recent months, after prices plummeted from a high of over USD 125 tonne seen in the first quarter of 2011. Most Indonesian coal is mined in East Kalimantan, Central Kalimantan, South Kalimantan and South Sumatra.
The archipelago of 17,000 Islands produces mainly low grade coal, used predominantly in emerging markets, with top importers being China, India and South Korea.
Both India and China have launched aggressive and ambitious plans to ramp up power supplies in the coming years.
Source - Reuters
Leeuniversal.blogspot.com
Reuters Recorder reported that thermal coal output in the world's top exporter Indonesia is seen rising 8.3% in 2012 as miners increase production to take advantage of strong prices.
Mr Bob Kamandanu chairman of the Indonesian Coal Mining Association said that Indonesia's thermal coal production will be 390 million tonnes in 2012 versus 360 million tonnes in 2011.
Mr Kamandanu had previously estimated 2011 coal output at 354 million tonnes, up from 320 million tonnes in 2010.
Australian thermal coal on the globalCOAL Newcastle index, the benchmark for Asian coal, closed at AUD 116.55 a tonne on March 2nd 2012.
Weaker demand has kept a lid on thermal coal prices in recent months, after prices plummeted from a high of over USD 125 tonne seen in the first quarter of 2011. Most Indonesian coal is mined in East Kalimantan, Central Kalimantan, South Kalimantan and South Sumatra.
The archipelago of 17,000 Islands produces mainly low grade coal, used predominantly in emerging markets, with top importers being China, India and South Korea.
Both India and China have launched aggressive and ambitious plans to ramp up power supplies in the coming years.
Source - Reuters
Leeuniversal.blogspot.com
Australia shares down but off lows on China PMI
Sunday, 04 Mar 2012
Australian shares fell 1% with miners dented by falls in copper and gold prices on signs the US is not planning fresh stimulus measures though the local market was lifted from its lows by positive signs from top customer China.
China's factory sector grew more than expected in February as export orders expanded for the first time in 4 months, supporting hopes the world's second biggest economy can avoid a hard landing.
Mr David Spry research manager at broker FW Holst said that "China is continuing to chug on. It's coming off a bit but it's not something that at this stage we get too concerned about. I think we'll range trade as we have been for a little while. There's nothing really to give us that next kick. To get a uniform swing up is going to take something quite dramatic to happen and I just can't see anything ion the horizon to drive that.
Mr Cameron Peacock analyst at CMC Markets said that "How did the market interpret these comments? Don't expect QE3 anytime soon. The ramifications for the commodity complex were significant, with base metals selling off sharply, oil continuing its pullback from recent highs and gold getting slammed by more than USD 85.
New Zealand's benchmark NZX 50 index rose 0.3% to 3330.9. Among other major movers in Australia, coal miner New Hope Corp dived 4.9% after it scrapped plans to sell itself for more than USD 5 billion.
Woolworths was flat after 3.2% rise in H1 earnings satisfied analyst forecasts and the supermarket leader said it was still on track to achieve full year guidance for 2% to 6% profit growth.
Source - Economic Times
Australian shares fell 1% with miners dented by falls in copper and gold prices on signs the US is not planning fresh stimulus measures though the local market was lifted from its lows by positive signs from top customer China.
China's factory sector grew more than expected in February as export orders expanded for the first time in 4 months, supporting hopes the world's second biggest economy can avoid a hard landing.
Mr David Spry research manager at broker FW Holst said that "China is continuing to chug on. It's coming off a bit but it's not something that at this stage we get too concerned about. I think we'll range trade as we have been for a little while. There's nothing really to give us that next kick. To get a uniform swing up is going to take something quite dramatic to happen and I just can't see anything ion the horizon to drive that.
Mr Cameron Peacock analyst at CMC Markets said that "How did the market interpret these comments? Don't expect QE3 anytime soon. The ramifications for the commodity complex were significant, with base metals selling off sharply, oil continuing its pullback from recent highs and gold getting slammed by more than USD 85.
New Zealand's benchmark NZX 50 index rose 0.3% to 3330.9. Among other major movers in Australia, coal miner New Hope Corp dived 4.9% after it scrapped plans to sell itself for more than USD 5 billion.
Woolworths was flat after 3.2% rise in H1 earnings satisfied analyst forecasts and the supermarket leader said it was still on track to achieve full year guidance for 2% to 6% profit growth.
Source - Economic Times
Wednesday, February 29, 2012
China 2011 raw coal output up by 9pct YoY - Report
Wednesday, 29 Feb 2012
People Daily citing figures from a national coal conference reported that China produced 3.52 billion tonnes of raw coal in 2011 up by 8.7%YoY.
The newspaper reported that the conference also called for controls on coal consumption and measures to force industries to upgrade and improve energy efficiency.
The National Bureau of Statistics which publishes China commodities output and other data does not regularly disclose raw coal production figures.
The statistics bureau has said Energy consumption totalled 3.48 billion tonnes of standard coal last year up by 7%YoY.
According to the bureau of the total, coal consumption increased 9.7% YoY. It did not give an outright volume.
(Sourced from People Daily)
People Daily citing figures from a national coal conference reported that China produced 3.52 billion tonnes of raw coal in 2011 up by 8.7%YoY.
The newspaper reported that the conference also called for controls on coal consumption and measures to force industries to upgrade and improve energy efficiency.
The National Bureau of Statistics which publishes China commodities output and other data does not regularly disclose raw coal production figures.
The statistics bureau has said Energy consumption totalled 3.48 billion tonnes of standard coal last year up by 7%YoY.
According to the bureau of the total, coal consumption increased 9.7% YoY. It did not give an outright volume.
(Sourced from People Daily)
Tuesday, February 28, 2012
Coal occupies 31pct of total export of Mongolia
Tuesday, 28 Feb 2012
According to Mongol Bank statistics, foreign trade turnover of Mongolia has reached USD 735.2 million in the end of January and it has grown by 32 percent in comparison of January, 2011.
Total export balance of trade has grown by 15.2 percent in comparison of January, 2011 and import balance of trade has grown by 42.1 percent. Import growth has influenced to foreign trade deficit that has been accounted USD 254.6 million.
Coal export has occupied 31.2% of total export and Mongolia has exported 21 million tons of coal to China. Also copper enrichment export has occupied 27.8%, iron ore 15.7% and crude oil 8.1% of total export.
Main export goods’ border prices have been increased by 11.8% and import goods’ prices have been increased by 49.1%. Export and import prices’ increases have influenced to foreign trade total goods circulation growth.
(sourced Mad-mongolia.com)
According to Mongol Bank statistics, foreign trade turnover of Mongolia has reached USD 735.2 million in the end of January and it has grown by 32 percent in comparison of January, 2011.
Total export balance of trade has grown by 15.2 percent in comparison of January, 2011 and import balance of trade has grown by 42.1 percent. Import growth has influenced to foreign trade deficit that has been accounted USD 254.6 million.
Coal export has occupied 31.2% of total export and Mongolia has exported 21 million tons of coal to China. Also copper enrichment export has occupied 27.8%, iron ore 15.7% and crude oil 8.1% of total export.
Main export goods’ border prices have been increased by 11.8% and import goods’ prices have been increased by 49.1%. Export and import prices’ increases have influenced to foreign trade total goods circulation growth.
(sourced Mad-mongolia.com)
RBCT steam coal prices advance
Tuesday, 28 Feb 2012
Coal export prices at South Africa’s Richards Bay, the continent’s biggest terminal for shipping the fuel, rose for a second week.
According to IHS McCloskey data on Bloomberg, prices added USD 1.27 or 1.2% to USD 106.11 a metric tonne in the week ended February 24. That’s the highest level since January 27.
The price is quoted on a free-on-board basis, which excludes delivery costs.
(Sourced from Bloomberg)
Coal export prices at South Africa’s Richards Bay, the continent’s biggest terminal for shipping the fuel, rose for a second week.
According to IHS McCloskey data on Bloomberg, prices added USD 1.27 or 1.2% to USD 106.11 a metric tonne in the week ended February 24. That’s the highest level since January 27.
The price is quoted on a free-on-board basis, which excludes delivery costs.
(Sourced from Bloomberg)
Wednesday, February 22, 2012
China coal imports fall 8pc
SHANGHAI: China January coal imports fell 8 percent from the previous month to 19.65 million tonnes, a second straight month of decline as lower domestic prices and cooling demand hit orders, an industry website said on Tuesday, citing customs data.
With the steel industry plagued by slumping orders, imports of coking coal, a key steel making ingredient, tumbled 30 percent in January from a month ago to just 3.45 million tonnes the lowest since August when shipments were at 3.28 million, according to trade portal China Energy Net (www.china5e.com).
On an annual basis, January's coal imports were still up 3.9 percent, the report said.
After soaring to a record high of 22.14 million tonnes in November, China's coal imports have steadily fallen as a government imposed price ceiling of 800 yuan ($130) a tonne for spot coal prices in late November caused domestic prices to fall precipitously.
Coupled with weaker demand on the back of a cooling economy, domestic spot coal prices have fallen for 13 consecutive weeks and shed 70 yuan since November to 777 yuan a tonne.
With Chinese utilities and traders having piled up on stocks in the fourth quarter, the swift drop in local prices have made imports unattractive.
Traders said business has been slow and are looking for signs of a rebound in the second quarter, when utilities are expected to restock after winter sucks up inventories and industrial activity picks up.
"A lot of the shipments were deals done in early November. The market is very quiet now and bids that are streaming in for March and April are really low," said a Shanghai-based trader.
Bids for Australian coal with a heating value of 5,500 kcal/kg NAR were currently hovering at around $104 a tonne (CFR), down from around $110 a week ago.
"Offers have been falling by around $3-$5 on a weekly basis and will probably stay that way until the Chinese return and who knows when that will be," said a Singapore-based trader.
China Energy Net said total bituminous coal imports in January were 6.49 million tonnes, down 20 percent from a month ago, while volumes for anthracite and lignite were at 2.51 million and 3.28 million, respectively.
The customs agency will publish the final trade data later on Tuesday at 1430 local time (0630 GMT).
(sourced: Reuters & Brecorder.com)
With the steel industry plagued by slumping orders, imports of coking coal, a key steel making ingredient, tumbled 30 percent in January from a month ago to just 3.45 million tonnes the lowest since August when shipments were at 3.28 million, according to trade portal China Energy Net (www.china5e.com).
On an annual basis, January's coal imports were still up 3.9 percent, the report said.
After soaring to a record high of 22.14 million tonnes in November, China's coal imports have steadily fallen as a government imposed price ceiling of 800 yuan ($130) a tonne for spot coal prices in late November caused domestic prices to fall precipitously.
Coupled with weaker demand on the back of a cooling economy, domestic spot coal prices have fallen for 13 consecutive weeks and shed 70 yuan since November to 777 yuan a tonne.
With Chinese utilities and traders having piled up on stocks in the fourth quarter, the swift drop in local prices have made imports unattractive.
Traders said business has been slow and are looking for signs of a rebound in the second quarter, when utilities are expected to restock after winter sucks up inventories and industrial activity picks up.
"A lot of the shipments were deals done in early November. The market is very quiet now and bids that are streaming in for March and April are really low," said a Shanghai-based trader.
Bids for Australian coal with a heating value of 5,500 kcal/kg NAR were currently hovering at around $104 a tonne (CFR), down from around $110 a week ago.
"Offers have been falling by around $3-$5 on a weekly basis and will probably stay that way until the Chinese return and who knows when that will be," said a Singapore-based trader.
China Energy Net said total bituminous coal imports in January were 6.49 million tonnes, down 20 percent from a month ago, while volumes for anthracite and lignite were at 2.51 million and 3.28 million, respectively.
The customs agency will publish the final trade data later on Tuesday at 1430 local time (0630 GMT).
(sourced: Reuters & Brecorder.com)
Saturday, February 18, 2012
Iron ore prices lowest since October on Chinese stockpiles
Saturday, 18 Feb 2012
Bloomberg reported that iron ore dropped for a seventh day, the longest losing run in more than three months, as the biggest consumer China may slow buying because of increased stockpiles.
Data from The Steel Index showed that ore with 62% iron content at the Chinese port of Tianjin fell 1.6% to USD 137.40 per metric tonne on February 17th 2012. Prices last had a losing run that long in the period ended Oct. 28.
Mr Daniel Hynes director of commodity research at Citigroup Inc in Sydney said that “They’re certainly not as aggressive as we’ve come to expect at this time of year.”
He said that a price rally late last year may have been down to re stocking.
According to data from Mysteel.com, inventories at 30 Chinese ports totaled 100.21 million tonnes last week, about 32% more than a year earlier. Steel demand in China normally increases after the weeklong Lunar New Year holidays as construction resumes. The break ended on January 29 this year.
(Sourced from Bloomberg)
Bloomberg reported that iron ore dropped for a seventh day, the longest losing run in more than three months, as the biggest consumer China may slow buying because of increased stockpiles.
Data from The Steel Index showed that ore with 62% iron content at the Chinese port of Tianjin fell 1.6% to USD 137.40 per metric tonne on February 17th 2012. Prices last had a losing run that long in the period ended Oct. 28.
Mr Daniel Hynes director of commodity research at Citigroup Inc in Sydney said that “They’re certainly not as aggressive as we’ve come to expect at this time of year.”
He said that a price rally late last year may have been down to re stocking.
According to data from Mysteel.com, inventories at 30 Chinese ports totaled 100.21 million tonnes last week, about 32% more than a year earlier. Steel demand in China normally increases after the weeklong Lunar New Year holidays as construction resumes. The break ended on January 29 this year.
(Sourced from Bloomberg)
Friday, February 17, 2012
South Korea January coal imports up 3pct
Friday, 17 Feb 2012
South Korea's imports of coal in January rose 3.8 percent to 10.71 million tonnes from 10.32 million tonnes a year earlier, customs data showed on Wednesday.
Details of January imports are as follows
Price in USD
(Sourced from Reuters)
South Korea's imports of coal in January rose 3.8 percent to 10.71 million tonnes from 10.32 million tonnes a year earlier, customs data showed on Wednesday.
Details of January imports are as follows
| | Jan '12 | Price | Jan '11 | Price |
| Australia | 3,761,874 | 161.01 | 3,618,429 | 132.98 |
| Indonesia | 3,236,837 | 96.46 | 3,943,822 | 85.97 |
| Canada | 1,055,996 | 193.90 | 867,003 | 148.93 |
| S. Africa | 1,054,408 | 128.12 | 137,476 | 89.82 |
| Russia | 966,939 | 124.15 | 760,921 | 118.71 |
| U.S. | 414,786 | 230.24 | 419,356 | 232.34 |
| China | 198,533 | 169.62 | 386,113 | 121.76 |
| Malaysia | 22,000 | 90.23 | _ | |
| Colombia | - | 165,025 | 105.81 | |
| Cyprus | - | 23,340 | 216.07 |
Price in USD
(Sourced from Reuters)
Wednesday, February 15, 2012
Japanese stainless steel products imports up by 13pct YoY in 2011
Wednesday, 15 February 2012
The Japan Iron and Steel Federation compiled the import statistics released by the Ministry of Finance into the table attached hereto with regard to the imports of stainless steel products during 2011.
Total imports in 2011 were 189,263 tonnes, up by 13.6% YoY from 167,499 tons in 2010. Fairly high level of monthly imports of more or less 15,000 tonnes except in April 2011, June 2011 and August 2011 helped the total annual imports to increase.
Total value of the imports was USD 787.972 million with an averaged unit price of USD 4,163 per tonne, up by 14.3% from 2010. Monthly averages of the unit prices for 10 months of 2011 between February 2011 and November 2011 were all more than USD 4,000 per tonne.
All major originating countries, especially Korea, increased exports to Japan compared to 2010. Besides, imports from those countries traditionally of smaller exports to Japan also increased volumes by 8%.
The imports in December 2011 were 16,909 tonnes, up by 13.6% MoM from November 2011, a small rebound from the past several months of decline. Total value of the imports in December 2011 was USD 64.318 million with an averaged unit price of USD 3,803.77 per tonne, down again from the preceding month by 8.5%, mainly because of the prices of most of the imported products, except the ones from China, dropped from November 2011.
By comparison, total imported quantity of special steel products, including stainless steel products, in December 2011 was 49,079 tonnes, up by 58.9% MoM from November 2011, mainly because the imports of other special steel products notably increased to 32,170 tonnes, up by 100% MoM from November 2011.
Source: TEX Report Limited
The Japan Iron and Steel Federation compiled the import statistics released by the Ministry of Finance into the table attached hereto with regard to the imports of stainless steel products during 2011.
Total imports in 2011 were 189,263 tonnes, up by 13.6% YoY from 167,499 tons in 2010. Fairly high level of monthly imports of more or less 15,000 tonnes except in April 2011, June 2011 and August 2011 helped the total annual imports to increase.
Total value of the imports was USD 787.972 million with an averaged unit price of USD 4,163 per tonne, up by 14.3% from 2010. Monthly averages of the unit prices for 10 months of 2011 between February 2011 and November 2011 were all more than USD 4,000 per tonne.
All major originating countries, especially Korea, increased exports to Japan compared to 2010. Besides, imports from those countries traditionally of smaller exports to Japan also increased volumes by 8%.
The imports in December 2011 were 16,909 tonnes, up by 13.6% MoM from November 2011, a small rebound from the past several months of decline. Total value of the imports in December 2011 was USD 64.318 million with an averaged unit price of USD 3,803.77 per tonne, down again from the preceding month by 8.5%, mainly because of the prices of most of the imported products, except the ones from China, dropped from November 2011.
By comparison, total imported quantity of special steel products, including stainless steel products, in December 2011 was 49,079 tonnes, up by 58.9% MoM from November 2011, mainly because the imports of other special steel products notably increased to 32,170 tonnes, up by 100% MoM from November 2011.
Source: TEX Report Limited
Monday, February 13, 2012
India increases Iran oil imports
Monday, 13 February 2012
Iran's crude oil exports to India have increased 37.5% in January. India has increased oil imports from Iran to become the Islamic Republic's largest customer last month, ignoring recent sanctions imposed by US and EU on importing Iran’s oil. According to The Wall Street Journal Iranian crude exports to India rose to 550,000 barrels a day in January, up 37.5 percent from December 2011.
The development, the report said, has partly offset a 50 percent cut in crude exports to China as a result of pricing dispute. China now imports around 250,000 barrels a day from Iran. The news comes despite the West’s rising pressure on Iran to halt its peaceful nuclear program.On the New Year’s Eve, the United States imposed new sanctions against Iran aimed at preventing other countries from importing Iran’s oil and doing transactions with its central bank.
European Union foreign ministers also approved sanctions against Iran’s oil and financial sectors on January 23, including a ban on Iranian oil imports, a freeze on the assets of the country’s Central Bank within EU states, and a ban on selling diamonds, gold, and other precious metals to Tehran.Although financial sanctions have caused problems with regard to payment for Iran’s oil by other countries, they have apparently not been able to deter India.
Iran's Ambassador to India Seyyed Mehdi Nabizadeh said last Tuesday that India had agreed to pay for some purchases of Iranian oil in Indian rupees, a route that would avoid the risk of an interruption in banking transfers. Meanwhile, despite a pledge to find alternative supply sources for Iran’s oil, South Africa has also increased its Iranian oil imports to 100,000 barrels a day, The Wall Street Journal quoted an unnamed informed source as saying.
The US, Israel and their European allies accuse Iran of diversion in its peaceful nuclear program and have used this as an excuse to pass four rounds of international sanctions against the country at the UN Security Council. Refuting the claims, Tehran insists that as a member to the International Atomic Energy Agency and the Nuclear Non-Proliferation Treaty (NPT), it is fully entitled to peaceful applications of the nuclear energy.
Source: Press TV
Sunday, February 12, 2012
China iron ore imports in Jan down by 14pct
Sunday, 12 Feb 2012
China Knowledge reported that China, the world's largest iron ore importer and steel maker, saw its iron ore import fell 13.9% YoY to 59.32 million tonnes in January last year.
According to latest statistics released by the General Administration of Customs, the iron ore import last month reflected a 7.4% decline from the previous month. The average import price of iron ore dropped 10.9% YoY to USD 136.5 per tonne in January.
(Sourced from China Knowledge)
China Knowledge reported that China, the world's largest iron ore importer and steel maker, saw its iron ore import fell 13.9% YoY to 59.32 million tonnes in January last year.
According to latest statistics released by the General Administration of Customs, the iron ore import last month reflected a 7.4% decline from the previous month. The average import price of iron ore dropped 10.9% YoY to USD 136.5 per tonne in January.
(Sourced from China Knowledge)
Friday, February 10, 2012
Tata Steel sees India sales rising, Europe volatile
Fri Feb 10, 2012
* Sees first two quarters in FY13 to be weak for Europe
* Expects 1 mln T additional India sales in FY13
* Shares rebound 4 pct after sliding initially
MUMBAI, Feb 10 (Reuters) - Tata Steel, the world's No. 7 steelmaker, expects demand recovery in its key European market to be volatile, but is hopeful the situation may improve in the second half of the coming fiscal year that begins in April, a top official said.The company, which operates two-thirds of its global capacity in Europe, on Thursday posted its first quarterly loss in more than two years, as prices there fell sharply on the back of weak demand.
"The feeling is, in Europe, FY12/13 will be a mirror image of FY11/12 ... the first two quarters may be weaker than the last two," Chief Financial Officer Koushik Chatterjee said in a conference call with analysts on Friday. Tata Steel's consolidated margins slumped to 5.9 percent in the December quarter from 11.6 percent a year earlier. Prices fell about $43 a tonne on average in the quarter as the European debt crisis impacted decisions of buyers.
Earlier this month, ArcelorMittal, the world's largest steelmaker, posted an unexpected quarterly net loss , while Korea's POSCO, the world No 3, reported a smaller-than-expected profit rise. "Recovery in Europe will be very volatile. For next year, we will be keeping our target at the current year's production level," Chatterjee said. Tata Steel, which mothballed a hot strip mill in south Wales in December, is operating only two of four blast furnaces at Scunthorpe in England.
Last month the company said it would cut 200 jobs at four European plants as part of a restructuring of its European steel tubes business.
INDIA BOOST
The steelmaker, however, expects additional sales of one million tonnes in 2012/13 in India, as new capacity is added at its facility in Jamshedpur in the eastern state of Jharkhand. Tata Steel will complete a planned expansion of its Indian capacity to 9.7 million tonnes by March from 6.7 million tonnes now, Chatterjee said.
Sales at its Indian operations, which account for a quarter of its global capacity of 28 million tonnes, rose 16 percent during the December quarter, and the company expects demand to improve in coming quarters as interest rates ease and investment picks up. Shares in the company, valued at about $9 billion, initially fell 4 percent on the unexpected quarterly loss. They later rebounded on hopes the company's margins have bottomed out and are likely to recover in coming quarters.
At 12:41 p.m. (0711 GMT), the shares were up 4.2 percent in a Mumbai market down 0.5 percent. The stock lost 50 percent of its value in 2011, but has recovered nearly 40 percent so far in 2012 with foreign funds among the big buyers.
(sourced Reuters.com)
* Sees first two quarters in FY13 to be weak for Europe
* Expects 1 mln T additional India sales in FY13
* Shares rebound 4 pct after sliding initially
MUMBAI, Feb 10 (Reuters) - Tata Steel, the world's No. 7 steelmaker, expects demand recovery in its key European market to be volatile, but is hopeful the situation may improve in the second half of the coming fiscal year that begins in April, a top official said.The company, which operates two-thirds of its global capacity in Europe, on Thursday posted its first quarterly loss in more than two years, as prices there fell sharply on the back of weak demand.
"The feeling is, in Europe, FY12/13 will be a mirror image of FY11/12 ... the first two quarters may be weaker than the last two," Chief Financial Officer Koushik Chatterjee said in a conference call with analysts on Friday. Tata Steel's consolidated margins slumped to 5.9 percent in the December quarter from 11.6 percent a year earlier. Prices fell about $43 a tonne on average in the quarter as the European debt crisis impacted decisions of buyers.
Earlier this month, ArcelorMittal, the world's largest steelmaker, posted an unexpected quarterly net loss , while Korea's POSCO, the world No 3, reported a smaller-than-expected profit rise. "Recovery in Europe will be very volatile. For next year, we will be keeping our target at the current year's production level," Chatterjee said. Tata Steel, which mothballed a hot strip mill in south Wales in December, is operating only two of four blast furnaces at Scunthorpe in England.
Last month the company said it would cut 200 jobs at four European plants as part of a restructuring of its European steel tubes business.
INDIA BOOST
The steelmaker, however, expects additional sales of one million tonnes in 2012/13 in India, as new capacity is added at its facility in Jamshedpur in the eastern state of Jharkhand. Tata Steel will complete a planned expansion of its Indian capacity to 9.7 million tonnes by March from 6.7 million tonnes now, Chatterjee said.
Sales at its Indian operations, which account for a quarter of its global capacity of 28 million tonnes, rose 16 percent during the December quarter, and the company expects demand to improve in coming quarters as interest rates ease and investment picks up. Shares in the company, valued at about $9 billion, initially fell 4 percent on the unexpected quarterly loss. They later rebounded on hopes the company's margins have bottomed out and are likely to recover in coming quarters.
At 12:41 p.m. (0711 GMT), the shares were up 4.2 percent in a Mumbai market down 0.5 percent. The stock lost 50 percent of its value in 2011, but has recovered nearly 40 percent so far in 2012 with foreign funds among the big buyers.
(sourced Reuters.com)
Wednesday, February 8, 2012
Australian iron ore exports
Wednesday, 08 Feb 2012
Australia trade data shows that December saw a strong rebound in Australian iron ore exports, up 18% to an all time high of 46.2 million tonne (wet basis). This, in turn, ensured an annual total of almost 460 million tonne in 2011, up 9% on the corresponding 2010 level.
China accounted for 70% of the total exports, followed by Japan at 17% and South Korea at 10%. Most of the annual rise was due to increased shipments to China, with an increase of 34 million tonne year on year to a new record of 321 million tonne.
(sourced www.ssyonline.com)
Australia trade data shows that December saw a strong rebound in Australian iron ore exports, up 18% to an all time high of 46.2 million tonne (wet basis). This, in turn, ensured an annual total of almost 460 million tonne in 2011, up 9% on the corresponding 2010 level.
China accounted for 70% of the total exports, followed by Japan at 17% and South Korea at 10%. Most of the annual rise was due to increased shipments to China, with an increase of 34 million tonne year on year to a new record of 321 million tonne.
(sourced www.ssyonline.com)
Tuesday, February 7, 2012
Barry Rogliano Salles weekly Dry Bulk Newsletter no 770
Tuesday, 07 February 2012
It was another week of heavy losses in all dry bulk segments, but there were some signs of a reversal in the Cape market.The BDI reached 647 points, illustrating a decline of about 11% w-o-w. The BCI lost just 2%.
Source: Barry Rogliano Salles(BRS)
It was another week of heavy losses in all dry bulk segments, but there were some signs of a reversal in the Cape market.The BDI reached 647 points, illustrating a decline of about 11% w-o-w. The BCI lost just 2%.
Source: Barry Rogliano Salles(BRS)
Monday, February 6, 2012
China needs more coal
Mon, Feb06, 2012
BEIJING: China should increase coal production and imports and curb exports to ensure ample supplies for power generation, as the country heads for another year of power shortage, the China Electricity Council said.
Coal consumption by power plants will grow some 150 million tonnes in 2012, which requires new coal supplies of more than 300 million tonnes in the domestic market, the council, an association representing power firms, said in a report on its website (www.cec.org.cn).
The government should control the price of coal shipped to power plants, raise electricity prices in a timely manner, approve construction of more coal transport railways and power transmission lines, and deepen power demand management and restructure the economy to help balance the power market, it said.
The council forecast maximum power shortfalls of 30 – 40 gigawatts this year, similar to peak shortfalls of more than 30 GW in 2011.
It estimated that power demand will grow by about 9.5 percent from a year earlier to 5.14 trillion kilowatt hours this year and power generating capacity to increase by 85 GW to 1,140 GW by year-end.
China’s power consumption rose 11.7 percent on year to 4.69 trillion kWh in 2011 and it added about 90 GW of generating capacity.
The country overtook Japan as the world’s top coal importer for the first time ever last year, importing a record 182.4 million tonnes of the black hydrocarbon, dwarfing Japan’s 175.2 million tonnes.
China also exported 14.66 million tonnes of coal last year, mainly to users in Japan, South Korea and Taiwan, Chinese customs data showed.
China is the world’s largest coal producer and consumer, and nearly half its production of more than 3.2 billion tonnes is burned by power plants.
(sourced Dawn.com)
BEIJING: China should increase coal production and imports and curb exports to ensure ample supplies for power generation, as the country heads for another year of power shortage, the China Electricity Council said.
Coal consumption by power plants will grow some 150 million tonnes in 2012, which requires new coal supplies of more than 300 million tonnes in the domestic market, the council, an association representing power firms, said in a report on its website (www.cec.org.cn).
The government should control the price of coal shipped to power plants, raise electricity prices in a timely manner, approve construction of more coal transport railways and power transmission lines, and deepen power demand management and restructure the economy to help balance the power market, it said.
The council forecast maximum power shortfalls of 30 – 40 gigawatts this year, similar to peak shortfalls of more than 30 GW in 2011.
It estimated that power demand will grow by about 9.5 percent from a year earlier to 5.14 trillion kilowatt hours this year and power generating capacity to increase by 85 GW to 1,140 GW by year-end.
China’s power consumption rose 11.7 percent on year to 4.69 trillion kWh in 2011 and it added about 90 GW of generating capacity.
The country overtook Japan as the world’s top coal importer for the first time ever last year, importing a record 182.4 million tonnes of the black hydrocarbon, dwarfing Japan’s 175.2 million tonnes.
China also exported 14.66 million tonnes of coal last year, mainly to users in Japan, South Korea and Taiwan, Chinese customs data showed.
China is the world’s largest coal producer and consumer, and nearly half its production of more than 3.2 billion tonnes is burned by power plants.
(sourced Dawn.com)
CISA: China's Iron Ore Prices to Stay Low
Monday, 06 February 2012
China Iron and Steel Association predicts in its report this week that Chinese steel production will move slowly but steadily alone with rebounding demand; iron ore price is expected to run low due to hiking domestic iron ore output and sizable port inventories, although demand will rise in accordance with steel production.
In 2011, China 's iron ore import price averaged $ 163.84, up 28.13% year on year, based China Customs; In the meantime, Chinese-mined concentrates rose 15.06%, versus the rise of 10.13% in CISA's China Steel Price Index (CSPI); Large and medium sized steel markers in China posted falling profit to 87.53 billion yuan and declining margin to 2.42% in the year, based on CISA. Apparently iron ore price is still high compared to the persistent weakness in steel market.
In January 2012, Chinese steel market was confined by demand and credit, leading to downtrend in construction, cold rolled coil and strip and stagnancy in hot rolled coil, plate, section and special steels, said CISA.
The market saw no loosening in government policies and credit pressure for real economies remained in place. Before Chinese new year festival, steel mills and trading companies faced heavy pressure from loans; previous active winter restocking and other supportive forces didn't come up this year; liquidating intention was strong on bearish prospect due to falling economic growth in the first quarter and concern about property market regulation.
Although expectation of loosening monetary policy is getting strong, rehearsal of prudent monetary policy in 2012 from China ' s central bank seems a denial to a reverse later on. Key steel consuming industries, including property, railway, machinery, auto, are slowing down; post-festival demand is expected to be low for a relatively long time; drops in raw material prices would be limited; mills will face heavy cost pressure; Steel inventories, particularly of construction steel are rising noticeably.
For a long time, post festival, Chinese steel market will be facing slow demand recovery, rising inventories and low steel prices.
Source: Steel Home
China Iron and Steel Association predicts in its report this week that Chinese steel production will move slowly but steadily alone with rebounding demand; iron ore price is expected to run low due to hiking domestic iron ore output and sizable port inventories, although demand will rise in accordance with steel production.
In 2011, China 's iron ore import price averaged $ 163.84, up 28.13% year on year, based China Customs; In the meantime, Chinese-mined concentrates rose 15.06%, versus the rise of 10.13% in CISA's China Steel Price Index (CSPI); Large and medium sized steel markers in China posted falling profit to 87.53 billion yuan and declining margin to 2.42% in the year, based on CISA. Apparently iron ore price is still high compared to the persistent weakness in steel market.
In January 2012, Chinese steel market was confined by demand and credit, leading to downtrend in construction, cold rolled coil and strip and stagnancy in hot rolled coil, plate, section and special steels, said CISA.
The market saw no loosening in government policies and credit pressure for real economies remained in place. Before Chinese new year festival, steel mills and trading companies faced heavy pressure from loans; previous active winter restocking and other supportive forces didn't come up this year; liquidating intention was strong on bearish prospect due to falling economic growth in the first quarter and concern about property market regulation.
Although expectation of loosening monetary policy is getting strong, rehearsal of prudent monetary policy in 2012 from China ' s central bank seems a denial to a reverse later on. Key steel consuming industries, including property, railway, machinery, auto, are slowing down; post-festival demand is expected to be low for a relatively long time; drops in raw material prices would be limited; mills will face heavy cost pressure; Steel inventories, particularly of construction steel are rising noticeably.
For a long time, post festival, Chinese steel market will be facing slow demand recovery, rising inventories and low steel prices.
Source: Steel Home
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