China’s non-ferrous metal output rose by 4 per cent in 2009 to hit 26.05 million tonnes, according to figures from the China Nonferrous Metals Industry Association.
Refined copper output was 4.11 million tons while virgin aluminium production stood at 12.85 million tons; in addition there was output of 3.71 million tons for lead, 4.36 million tons of zinc, 164,800 tons of nickel, 134,500 tons of tin, 165,800 tons of antimony, 500,800 tons of magnesium and 61,500 tons of titanium sponge.
However, the trade in non-ferrous metals fell in 2009 as a result of the crash in global commodities prices. Trade stood at US$83.2 billion, down 11.27% year on year.
Between them, ten regions of China, including Henan Province, Inner Mongolia Autonomous Region and Anhui Province, each produced more than one million tonnes of non-ferrous metals. Total output for these ten regions amounted to 18.78 million tonnes, 72.1% of the national total. Zhejiang Province plans to have five nonferrous metal producers with annual sales revenue exceeding RMB 10 billion each in the next three years.
Showing posts with label anthracite. Show all posts
Showing posts with label anthracite. Show all posts
Thursday, February 25, 2010
Tuesday, August 25, 2009
Iran Offers Anthracite To Ukrainian And Indian Buyers
Iran is offering anthracite coal to Ukrainian and Indian buyers for the first time due to a fall in demand domestically, traders said.
Until now Iran has not exported its high energy content, low volatility anthracite but used it internally in steel production, they said. “We have been offered Iranian material. It’s anthracite with a high calorific value but it has met coal properties so could be used for steel. But for India it doesn’t make economic sense,” one Indian trader said.
Ukrainian steel mills are more keen on the Iranian material because the Russian coking coal on which they partly depend has risen sharply in price and is in tight supply, due to the recovery in Russia’s own steel output.
Source: The Peninsula, Qatar
Until now Iran has not exported its high energy content, low volatility anthracite but used it internally in steel production, they said. “We have been offered Iranian material. It’s anthracite with a high calorific value but it has met coal properties so could be used for steel. But for India it doesn’t make economic sense,” one Indian trader said.
Ukrainian steel mills are more keen on the Iranian material because the Russian coking coal on which they partly depend has risen sharply in price and is in tight supply, due to the recovery in Russia’s own steel output.
Source: The Peninsula, Qatar
Monday, August 10, 2009
No Change In Vietnam Coal Exports
Viet Nam exported more than 13.5 million tonnes of coal in the first seven months of this year, equal to the same period last year.
Coal for both domestic consumption and export earned Vinacomin more than VND20 trillion.
Buyers were primarily China, Japan, Thailand, India, Malaysia, South Korea and Europe, said Tran Xuan Hoa, general director of the Viet Nam National Coal and Mineral Industries Group (Vinacomin).
Local consumption was 10.98 million tonnes, also equal to the same period last year.
Coal for both domestic consumption and export earned Vinacomin more than VND20 trillion (US$1.1 billion), of which VND12 trillion ($667 million) was from exports, Hoa said.
Vinacomin plans to export 3 million tonnes of coal this year.
Despite its estimated 42 billion tonnes of coal reserves, the company is struggling to cater for steeply rising domestic energy demand of 17-20 per cent a year and plans to lower its export target.
Vinacomin was expected to export 10.5 million tonnes of coal to China for the second half of this year and the first quarter of next year, said Pham Minh Chau, head of Vinacomin's export department.
The coal utility would sell 2.5 million tonnes of fine anthracite coal to China through the Van Gia transhipment area in the northeastern province of Quang Ninh by directly signing contracts with Chinese companies. Coal could be exchanged for goods under these contracts, he said.
More than 336,000 tonnes of coal was sold through the Van Gia transhipment area from mid-May to mid-July at a price of $38 per tonne, representing 93.92 per cent of the volume signed with Chinese companies.
Of the figure, Hon Gai fine anthracite coal 11C accounted for 160,000 tonnes, the official added.
The Hon Gai fine anthracite coal 11A sold under contracts signed between the two governments was sold for $46 per tonne last June, Chau said.
Direct coal trading between Vietnamese and Chinese companies resumed last March after it was banned in May 2007 due to rampant coal smuggling in Quang Ninh.
Within a day in May 2007, 104 ships were seized in Van Gia for illegal coal transport because domestic prices were lower than international ones.
Chinese buyers were small companies in Guangxi province's Dongxing, the only port linking China and Viet Nam by both land and water, Chau said.
Now demand for coal is not as high as in early 2008 due to the global economic crisis, Chau said.
China, the world's largest coal producer and consumer, is expected to be a net coal importer for the first time in 20 years, as low prices in the international market and sluggish demand discourage exporters, according to analysts.
Several analysts have forecast that Chinese domestic coal prices, now hovering around $89 a tonne, could rise in the coming months on the back of summer demand and economic growth. China's power output rose on the year in June for the first time since last October, thanks to a pick-up in the economy and rising temperatures.
Supply has also been improving, as some of China's small coal mines are slowly returning to production, months after being shut down for strict safety inspections ordered by the central government.
Source: Vietnam Net
Coal for both domestic consumption and export earned Vinacomin more than VND20 trillion.
Buyers were primarily China, Japan, Thailand, India, Malaysia, South Korea and Europe, said Tran Xuan Hoa, general director of the Viet Nam National Coal and Mineral Industries Group (Vinacomin).
Local consumption was 10.98 million tonnes, also equal to the same period last year.
Coal for both domestic consumption and export earned Vinacomin more than VND20 trillion (US$1.1 billion), of which VND12 trillion ($667 million) was from exports, Hoa said.
Vinacomin plans to export 3 million tonnes of coal this year.
Despite its estimated 42 billion tonnes of coal reserves, the company is struggling to cater for steeply rising domestic energy demand of 17-20 per cent a year and plans to lower its export target.
Vinacomin was expected to export 10.5 million tonnes of coal to China for the second half of this year and the first quarter of next year, said Pham Minh Chau, head of Vinacomin's export department.
The coal utility would sell 2.5 million tonnes of fine anthracite coal to China through the Van Gia transhipment area in the northeastern province of Quang Ninh by directly signing contracts with Chinese companies. Coal could be exchanged for goods under these contracts, he said.
More than 336,000 tonnes of coal was sold through the Van Gia transhipment area from mid-May to mid-July at a price of $38 per tonne, representing 93.92 per cent of the volume signed with Chinese companies.
Of the figure, Hon Gai fine anthracite coal 11C accounted for 160,000 tonnes, the official added.
The Hon Gai fine anthracite coal 11A sold under contracts signed between the two governments was sold for $46 per tonne last June, Chau said.
Direct coal trading between Vietnamese and Chinese companies resumed last March after it was banned in May 2007 due to rampant coal smuggling in Quang Ninh.
Within a day in May 2007, 104 ships were seized in Van Gia for illegal coal transport because domestic prices were lower than international ones.
Chinese buyers were small companies in Guangxi province's Dongxing, the only port linking China and Viet Nam by both land and water, Chau said.
Now demand for coal is not as high as in early 2008 due to the global economic crisis, Chau said.
China, the world's largest coal producer and consumer, is expected to be a net coal importer for the first time in 20 years, as low prices in the international market and sluggish demand discourage exporters, according to analysts.
Several analysts have forecast that Chinese domestic coal prices, now hovering around $89 a tonne, could rise in the coming months on the back of summer demand and economic growth. China's power output rose on the year in June for the first time since last October, thanks to a pick-up in the economy and rising temperatures.
Supply has also been improving, as some of China's small coal mines are slowly returning to production, months after being shut down for strict safety inspections ordered by the central government.
Source: Vietnam Net
Friday, July 10, 2009
China Coal Prices Showing Little Movement
1. Thermal coal price
Last week in Datong, Shanxi, the price of thermal coal with 6,000 calories per kilogram dropped by CNY 15 per tonne; in Yanzhou the price of mixed coal declined by CNY 25 per tonne while thermal coal price remained stable in other areas.
At Qinhuangdao port, China's largest coal port, the coal price continued to drop. Last week, the exit price of high grade mixed coal from Shanxi, that from Datong and mixed coal from Shanxi dropped by CNY 2.50 per tonne, CNY 2.50 per tonne and CNY 5 per tonne respectively. At China's Guangzhou port, mixed coal with 6,000 calorie per kilogram from Shanxi edged down by CNY 20 per tonne ending the flat state in April. The price of imported coal remained stable.
2. International coal price
On July 2nd the spot coal price from BJ in Australia edged up by USD 0.45 per tonne from last week. On July 6th, ARA port in Europe and Richards Bay Port in South Africa witnessed thermal coal price rising by USD 6.83 per tonne and USD 2.13 per tonne.
3. Anthracite price
The price of anthracite with small lumps remained the same as last week on July 6th and that with medium lumps and the price of burgy went down by CNY 50 per tonne and CNY 35 per tonne respectively. In Quanyang, anthracite with medium lumps and small slumps dropped by CNY 30 per tonne and CNY 20 per tonne respectively.
4. Coking coal price
Last week the price of coking coal in China remained basically the same as last week.
5. Coal price
On July 6th in Guizhou province, coke price continued to rise, and third grade metallurgical coke stayed at CNY 1,300 per tonne up by CNY 100 per tonne from last week, and up by CNY 200 per tonne from the week before last week. In other areas, coke price had remained stable after previous edging-ups.
Source: Steel Guru
Last week in Datong, Shanxi, the price of thermal coal with 6,000 calories per kilogram dropped by CNY 15 per tonne; in Yanzhou the price of mixed coal declined by CNY 25 per tonne while thermal coal price remained stable in other areas.
At Qinhuangdao port, China's largest coal port, the coal price continued to drop. Last week, the exit price of high grade mixed coal from Shanxi, that from Datong and mixed coal from Shanxi dropped by CNY 2.50 per tonne, CNY 2.50 per tonne and CNY 5 per tonne respectively. At China's Guangzhou port, mixed coal with 6,000 calorie per kilogram from Shanxi edged down by CNY 20 per tonne ending the flat state in April. The price of imported coal remained stable.
2. International coal price
On July 2nd the spot coal price from BJ in Australia edged up by USD 0.45 per tonne from last week. On July 6th, ARA port in Europe and Richards Bay Port in South Africa witnessed thermal coal price rising by USD 6.83 per tonne and USD 2.13 per tonne.
3. Anthracite price
The price of anthracite with small lumps remained the same as last week on July 6th and that with medium lumps and the price of burgy went down by CNY 50 per tonne and CNY 35 per tonne respectively. In Quanyang, anthracite with medium lumps and small slumps dropped by CNY 30 per tonne and CNY 20 per tonne respectively.
4. Coking coal price
Last week the price of coking coal in China remained basically the same as last week.
5. Coal price
On July 6th in Guizhou province, coke price continued to rise, and third grade metallurgical coke stayed at CNY 1,300 per tonne up by CNY 100 per tonne from last week, and up by CNY 200 per tonne from the week before last week. In other areas, coke price had remained stable after previous edging-ups.
Source: Steel Guru
Monday, March 2, 2009
Petmin Mulls Over Anthracite Production Increase
PETMIN, South Africa’s largest anthracite exporter, will make a decision in its next financial year whether to double it production of the coal, and it hopes to make an acquisition before this December, said Bradley Doig, chief operating officer.
Anthracite and silica miner Petmin turned in a strong set of results for the six months to end-December, showing gross profit rising 69% to R115m. It poured R170m into its operations and most of that went to the Somkhele anthracite mine.
Somkhele will produce half a million tonnes of saleable anthracite this financial year to end-June and the decision will be taken thereafter whether to expand output by installing a second plant for R100m to double capacity, Doig said.
“We’ll make that call towards 2010. We’ve done the design work and preparatory work but we can’t make a call until we’ve decided where the markets are going,” he said.
Petmin is negotiating with the South African port authorities to increase the capacity at a dedicated anthracite export facility at Richards Bay harbour from the current 600,000 tonnes/year to 1.4 million tonnes.
Once the second plant is built and the de-stoning plant is commissioned in coming months, adding 25% more production, Petmin will be close to that 1.4 million tonne target. It is also prepared to facilitate exports by other companies, Doig said.
Petmin has a degree of flexibility in switching between supplying domestic users of anthracite in the ferrochrome and ferromanganese businesses and offshore clients.
Ferrochrome producers in South Africa have slashed production capacity by some 90% because of the downturn in demand from stainless steel producers. Petmin is starting to some slow increases in demand for its products from this sector.
Xstrata, the largest supplier of ferrochrome, has cut capacity by 80%, but it still needs anthracite as a reductant at its remaining furnaces. “Those tonnes we aren’t moving locally, we are getting offers for from European power stations that are designed to use anthracite,” Doig said.
Petmin has agreed sales over three years of a million tonnes of anthracite.
It will sell 145 000 tonnes at $118 per tonne in the six months to 30 June 2009 and approximately 325 000 tonnes and 375 000 tonnes in the years ending 30 June 2010 and 2011 respectively at similar prices.
“We expect weakness in (sales) volumes will be partially offset by the commencement of previously negotiated contract export volumes of $118/tonne, a 107% premium to the current API4 thermal coal spot price of $57/tonne,” said Numis Securities, adding this would underpin earnings in those years.
Petmin's shares on the JSE traded down three percent and were untraded on AIM.
The current downturn in the metallurgical sector will negatively impact the offtake of anthracite and metallurgical grade silica, which is silica not used to make glass.
Silica and chert production in the interim period rose by a third to 815,235 tonnes and sales were up 43% to 902,513 tonnes.
Petmin expects to maintain output levels but sees slightly lower sales.
“Sales to the metallurgical markets are not expected to recover until the latter half of calendar 2009. The metallurgical sector is the least profitable market that SamQuarz sells to, and as a result, the impact of reduced sales to this sector on SamQuarz`s profit is not expected to be material.”
Petmin is selling its Springlake Colliery to Shanduka Coal for R150m and it has R160m it has in untapped debt. It has R75m in cash on its books at the end of the interim period.
Petmin is “not hellbent on consolidating the anthracite market,” he said. The company is looking at bulk commodities like industrial minerals and coal.
“The number one thing is to protect the balance sheet, but if there’s something really accretive to shareholders we’d look at it,” Doig told Miningmx. “We are looking at a couple of things.”
“We’d definitely consider abroad as well. We like Africa and understand it, but there are opportunities presenting themselves in other jurisdictions, which are quite exciting,” he said.
“We are evaluating some opportunities. We’d certainly like do something by December,” he said. “If we find the right thing, of the ones we’re looking at, and if we decide to pursue it, we’d love to add it to our portfolio by then.”
The other important investment Petmin has is in the Veremo pig iron prospect, in which it is the junior partner. Kermas is the majority partner with a 70% stake in the company that owns a similar stake in the underlying asset.
Petmin intends upping its exposure to the underlying asset by converting the repayment of R21.5m loan to the company into an increased stake in the company. Its exposure to the underlying asset will double to 34% in the transaction.
A 2012 production target at the project is a bit optimistic, Doig said.
Source: MiningMx.com
Anthracite and silica miner Petmin turned in a strong set of results for the six months to end-December, showing gross profit rising 69% to R115m. It poured R170m into its operations and most of that went to the Somkhele anthracite mine.
Somkhele will produce half a million tonnes of saleable anthracite this financial year to end-June and the decision will be taken thereafter whether to expand output by installing a second plant for R100m to double capacity, Doig said.
“We’ll make that call towards 2010. We’ve done the design work and preparatory work but we can’t make a call until we’ve decided where the markets are going,” he said.
Petmin is negotiating with the South African port authorities to increase the capacity at a dedicated anthracite export facility at Richards Bay harbour from the current 600,000 tonnes/year to 1.4 million tonnes.
Once the second plant is built and the de-stoning plant is commissioned in coming months, adding 25% more production, Petmin will be close to that 1.4 million tonne target. It is also prepared to facilitate exports by other companies, Doig said.
Petmin has a degree of flexibility in switching between supplying domestic users of anthracite in the ferrochrome and ferromanganese businesses and offshore clients.
Ferrochrome producers in South Africa have slashed production capacity by some 90% because of the downturn in demand from stainless steel producers. Petmin is starting to some slow increases in demand for its products from this sector.
Xstrata, the largest supplier of ferrochrome, has cut capacity by 80%, but it still needs anthracite as a reductant at its remaining furnaces. “Those tonnes we aren’t moving locally, we are getting offers for from European power stations that are designed to use anthracite,” Doig said.
Petmin has agreed sales over three years of a million tonnes of anthracite.
It will sell 145 000 tonnes at $118 per tonne in the six months to 30 June 2009 and approximately 325 000 tonnes and 375 000 tonnes in the years ending 30 June 2010 and 2011 respectively at similar prices.
“We expect weakness in (sales) volumes will be partially offset by the commencement of previously negotiated contract export volumes of $118/tonne, a 107% premium to the current API4 thermal coal spot price of $57/tonne,” said Numis Securities, adding this would underpin earnings in those years.
Petmin's shares on the JSE traded down three percent and were untraded on AIM.
The current downturn in the metallurgical sector will negatively impact the offtake of anthracite and metallurgical grade silica, which is silica not used to make glass.
Silica and chert production in the interim period rose by a third to 815,235 tonnes and sales were up 43% to 902,513 tonnes.
Petmin expects to maintain output levels but sees slightly lower sales.
“Sales to the metallurgical markets are not expected to recover until the latter half of calendar 2009. The metallurgical sector is the least profitable market that SamQuarz sells to, and as a result, the impact of reduced sales to this sector on SamQuarz`s profit is not expected to be material.”
Petmin is selling its Springlake Colliery to Shanduka Coal for R150m and it has R160m it has in untapped debt. It has R75m in cash on its books at the end of the interim period.
Petmin is “not hellbent on consolidating the anthracite market,” he said. The company is looking at bulk commodities like industrial minerals and coal.
“The number one thing is to protect the balance sheet, but if there’s something really accretive to shareholders we’d look at it,” Doig told Miningmx. “We are looking at a couple of things.”
“We’d definitely consider abroad as well. We like Africa and understand it, but there are opportunities presenting themselves in other jurisdictions, which are quite exciting,” he said.
“We are evaluating some opportunities. We’d certainly like do something by December,” he said. “If we find the right thing, of the ones we’re looking at, and if we decide to pursue it, we’d love to add it to our portfolio by then.”
The other important investment Petmin has is in the Veremo pig iron prospect, in which it is the junior partner. Kermas is the majority partner with a 70% stake in the company that owns a similar stake in the underlying asset.
Petmin intends upping its exposure to the underlying asset by converting the repayment of R21.5m loan to the company into an increased stake in the company. Its exposure to the underlying asset will double to 34% in the transaction.
A 2012 production target at the project is a bit optimistic, Doig said.
Source: MiningMx.com
Thursday, January 15, 2009
Japan To Sign Coal Exploration Pact With Vietnam
Reports from Vietnam suggest that a Japanese delegation led by Senior Vice Trade Minister Takamori Yoshikawa will today sign an agreement in the northern city of Halong with Vinacomin, the Vietnam National Coal-Mineral Industries Group, to explore for anthracite coal in the Pha Lai area of northern Vietnam.
Japan is the world's largest coal importer while Vietnam is its principal supplier of the smokeless coal used in steelmaking. Japan wants stronger ties with the Vinacomin, as it vies for supplies with China and India, the world’s first- and second-fastest growing major economies.
Japan will agree to provide Vinacomin with low-interest loans to develop coal resources and will export clean-coal technology to help Vietnam update inefficient coal-fired power generators, the official said.
The 60-member Japanese delegation includes senior officials from Sumitomo Corp., Marubeni Corp., Itochu Corp. and Electric Power Development Co., he said.
Japan imports 190 million metric tons of coal annually, according to the finance ministry. Thermal coal used for power generation accounts for 53 percent, and coking coal accounts for 42 percent. Japan imports 5.5 million tons of anthracite coal, and 40 percent of this comes from Vietnam.
Source: Bloomberg
Japan is the world's largest coal importer while Vietnam is its principal supplier of the smokeless coal used in steelmaking. Japan wants stronger ties with the Vinacomin, as it vies for supplies with China and India, the world’s first- and second-fastest growing major economies.
Japan will agree to provide Vinacomin with low-interest loans to develop coal resources and will export clean-coal technology to help Vietnam update inefficient coal-fired power generators, the official said.
The 60-member Japanese delegation includes senior officials from Sumitomo Corp., Marubeni Corp., Itochu Corp. and Electric Power Development Co., he said.
Japan imports 190 million metric tons of coal annually, according to the finance ministry. Thermal coal used for power generation accounts for 53 percent, and coking coal accounts for 42 percent. Japan imports 5.5 million tons of anthracite coal, and 40 percent of this comes from Vietnam.
Source: Bloomberg
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