Coal mine reorganization in Hebei boosts local coking coal prices

August16, 2011

According to a report released by China's National Energy Administration, the authorities in the Chinese province of Hebei are stepping up their efforts to eliminate backward coal production capacities, while promoting reorganization and mergers of local coal mining enterprises.

Within the scope of reduced outputs caused by the coal mining integration activities in Hebei Province, in the week from August 8 to August 14 coking coal prices in the province rose by RMB 20-25/mt ($3.13-3.91/mt).

|By Steelorbis

European coal rose for a fourth day

Tuesday, 16 Aug 2011

It is reported that thermal coal burned to generate electricity climbed 40 cents or 0.3% to USD 127 a c tonne by 12:34 PM on August 15th 2011 in London.

Price slipped 0.2 percent last week.

(Sourced from Bloomberg)

China imported iron ore stocks rise 0.8 pct this week

Fri Apr 1, 2011 8:35am GMT

BEIJING, April 1 (Reuters) - Stockpiles of imported iron ore at major Chinese ports rose 0.8 percent this week to end at
79.85 million tonnes, up for the first time in a month, according to data from industry consultancy Mysteel. 

China's port iron ore stocks have stood at more than 60 million tonnes since 2008, and surged past the 80 million tonne
mark in February following a spree of orders by local mills and traders banking on strong steel demand. 

Despite the drop in orders since mid-February, port stocks have fallen by just a fraction, indicating that steel mill
inventories have not yet reached a critical level.  

Prices of the key steelmaking raw material inched up over the week as end users returned to the market to replenish stocks
that had been dwindling since mid-February. 

But analysts were pessimistic about long-term demand, and said orders could slow in April as steel mills start to digest
the costly port inventories.  

 Following is a table showing stockpile movements this week. 
Country            Stocks         Weekly Change
Australia          28.86 mln T      +190,000
Brazil             21.13 mln T       +90,000
India              14.33 mln T      +320,000
Total              79.85 mln T      +660,000

(Reporting by David Stanway; Editing by Chris Lewis, sourced Reuters, Mysteel)

GMS weekly report on India ship breaking industry for WEEK 7

Tuesday, 15 Feb 2011

A drastic slump in levels for the week left many cash buyers and owners reeling as the gains from the previous few months filially started to retreat to slightly more recognizable levels.

Many have been predicting an adjustment in price (especially with Bangladesh still out of the game), but when it happens in such a sharp, swift and substantial manner, it is always difficult to stomach.

Many cash buyers were left holding on to tonnage acquired on an 'as is' basis, or if the losses were proving to be too significant taking delivered vessels over with their own crew and holding until some improvement to acceptable (even breakeven) levels are seen.

Nevertheless, due to the scarcity of tankers on the market at the moment, one US built unit attracted a strong price basis 'as is' Mozambique that should a fetch a level well over USD 500/LT LDT upon arrival. The OVERSEAS PUGET SOUND (11,105 LDT) was sold for a price of USD 492/LT LDT and may yet turn out to be a Pakistan candidate with the market there perhaps edging what India has to offer at the moment. (sourced:GMS weekly)

Tags: GMS, weekly report, India ship breaking industry, US built unit, Mozambique, Bangladesh, Pakistan