Successful year in advance for Coal and Steel
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Steelmakers and steel exchange traded funds (ETFs) are girding themselves for a prosperous 2010 after a prominent analyst forecast higher prices for the metal. Following close behind could be coal prices, which are predicted to surge 30% next year.
Recent price hikes for steel from several U.S. steelmakers has put the
pressure on for higher steel prices early on next year. First quarter
domestic steel prices are anticipated to go up as the pickup in demand
will result from a recovery within the sector. Reuters reports that
inventories at the mill, distributor and consumer level often provide a
cushion against demand swings.The cost of producing steel is certainly rising. According to The Hindu
Business Line, the iron ore prices, which have seen a surge since the
lows of June of about $50-60, are now trading at around $90-100 range,
while coking coal prices saw lows of around $120 are now trading at
around $170. Both of these are used to produce steel. Coal prices are
fluctuating.Analysts expect iron ore and coal prices to rise by as much as 30% in 2010 and steel prices are expected to follow suit.
Market Vectors Steel (NYSEArca: SLX): up 111.3% year-to-date
Market Vectors Coal (NYSEArca: KOL): up 144.5% year-to-date
PowerShares Global Coal (NYSEArca: PKOL): up 135.6% year-to-date
Source: ETF Shares
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Loading- Steel prices to stabilize at current levels: SAIL
- Coal prices at Qinhuangdao register first decline in seven months
- Steel Ministry is to carry coal blocks to fuel shortage
- Coking coal to rise to lift steel prices
- Angang Steel hikes steel prices for December
- JSW Steel hikes prices by 3-5% in all categories
- India: Steel prices expected to rise by 5% in April
- Chinese coking coal Be in 2010, says KGI
- China raises Xishan Coal coking coal prices
- SAIL may cut steel prices soon
- Delays in iron ore, coal block allocation hurt Indian steel pjts
- India: Coking coal prices may rise by 10-15% from April 2010
- China Coking Coal Xishan says raise prices
- China Coal inventory is likely in the coming months, union covered
- China Coal inventory is likely in the coming months, union covered
The Steel Authority of India Ltd on Thursday said steel prices should stabilise at current levels after hikes in recent months. “Prices have been raised and we don’t see any further rise in steel prices,” SAIL Chairman and MD S.K.
On February 3, coal prices at the Chinese port of Qinhuangdao were down RMB 10/mt ($1.46/mt) or 1-2 percent compared with the previous week, marking the first decline since July 2009. On the date in question at Qinhuangdao, the FOBT prices of Shanxi premium blend coal with heating value of
India’s Steel Ministry has sought to Coal Ministry to provide coal blocks in order to contain the dry fuel shortage in the various steel firms. In a letter to Coal Minstry, Steel Secretary P K Rastogi asked coal blocks for Manganese Ore India Ltd (MOIL) and Kudremukh Iron Ore Company
World’s top coking coal producer BHP Billiton has signed a coking coal deal with Indian steelmakers at $200 per tonne, up 55% from last year’s prices. This is expected to cause major rise in steel prices in India.
China Knowledge reported that Angang Steel Co Ltd one of China top three steel producers has raised the prices of its major steel products for December.
JSW Steel Ltd, the country’s third-largest steel-maker on Monday said that it has raised product prices by 3-5% across all categories led by an increase in raw material prices and pick-up in demand. “We have raised product prices across all categories by 3-5% starting this month,” JSW Steel, director sales
Automotive and consumer durable companies may have to shell out more to buy steel under long term contracts from domestic metal producers starting April 1. Top Indian steelmakers are likely to increase price of the metal by 5-8 % sold under quarterly, six-monthly or annual arrangements on the back of
Stephen Wang, an analyst with KGI Securities in Taipei, comments on the outlook for Chinese steel production and demand for coking coal to make the metal. “China’s crude steel output will grow by around 8 percent in 2010 to above 600 million metric tons. Strong steel output growth will sustain
Xishan Coal and Electricity Power, a listed arm of China’s top coking coal producer, said on Tuesday that it had raised prices for coking coal since the beginning of August as demand for the steel production ingredient recovered. It raised the price of washed coking coal to 1,125 yuan ($164.6) per tonne
State-run steel maker Steel Authority of India Ltd (SAIL) on Thursday said that it may cut prices of some of its products in near future.
A delay in the allotment of iron ore and coal blocks in India is hurting the multi-million steel projects lined up by major steel firms like ArcelorMittal, POSCO, Tata Steel and SAIL. The steel majors today raised their concerns over such delay at a meeting convened by the Inter-Ministerial Group
The price of coking coal, one of the key raw materials for steel production, is likely to increase by 10-15% in next April, the month in which majority of steel makers sign long-term agreement with suppliers, said senior executives of two large steel companies. This, in turn, would increase the
Xishan Coal and Electricity Power Co 000983.SZ, a listed arm of China’s top coking coal producer, said on Friday it plans to raise prices for coking coal from the beginning of next month. It will raise the price for washed coking coal to 1,215 yuan ($178) a tonne from 1,125
China’s domestic coal inventory is likely to fall in the next three to four months due to growing coal demand and tight supply, according to Wu Chenghou, consultant with the China Coal Transportation and Marketing Association. Wu said that the recovering domestic and overseas economies are greatly boosting demand in coal.
China’s domestic coal inventory is likely to fall in the next three to four months due to growing coal demand and tight supply, according to Wu Chenghou, consultant with the China Coal Transportation and Marketing Association. Wu said that the recovering domestic and overseas economies are greatly boosting demand in coal.
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