We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Friday, 05 December 14
CHINESE SPECIAL STEEL MAKERS' RISK PROFILES MORE RESILIENT - FITCH
 Fitch Ratings says the risk profiles of Chinese makers of special steel, especially high-end products, are more like those of manufacturers and more resilient than that of ordinary steel mills, whose products are commoditised.
Chinese steel mills suffered razor-thin margins in 2011-2013, due to limited bargaining power in raw material costs and industry-wide overcapacity. The per ton profit margin of ordinary steel products, mainly rebar and wire rods used by construction industry, dropped to below CNY150 during the bottom of the industry cycle in 2011 from close to CNY300 in 2010, and has remained around this low level since.
Based on discussions with industry participants, Fitch has found that the metal spread per ton could be more than CNY400 for certain high-end special steel products for specific clients, which is significantly higher than ordinary steel.
Although there has been a mild margin increase in 2014 due to lower iron ore and coking coal prices, the fundamentals of Chinese steel mills, especially the small and mid-scale companies with low value-added products, are still weak.
Special steel products are different from ordinary steel in terms of chemical composition and mechanical properties. The prices of special steel products, such as bearing steel and large molded ingots, are more of a function of quality control, tighter tolerance and finer processing than the steel alloy content. The production of special steel requires more advanced technology and production facilities, relatively long production periods and large capital investment.
The prices of mid- to low-end special steel products still move in line with industry-wide price changes, which impacts Chinese special steel producers who mainly make low- to mid-end products. However, the prices of high-end products are much less volatile because they are used in high-tech or high-margin downstream industries, such as marine engineering, high-end auto production, high-speed rail and even national defence.
The Chinese steel industry has potential to move further up the value chain. In developed countries, the special steel industry developed rapidly once the traditional steel industry reached a mature stage. As at end-2013, special steel production accounted for only 6.1% of China's total crude steel output, while the same ratio was 55.0% in Sweden, 22.5% in Germany and 18.8% in Japan.
Buyers of high-end special steel products usually have specific requirements and typically will sign contracts with producers that include a negotiated price and a certain portion of prepayments, both of which are positive for the producer's profitability and cash flow position. Special steel makers' profitability, especially for high-end producers, has the potential to rise above the steel industry average. In the Chinese government's development blueprint for the five-year period to 2015, high-end special steel products have been categorised as refined products under the steel industry, which means that the segment would receive government support. At the same time, the enormous scale and rapid development of China's automobile and engineering machinery industries will underpin demand for special steel.
The key risks to the special steel industry include 1) weaker demand due to slower-than-expected economic growth, 2) faster-than-expected special steel production expansion that will generate overcapacity in the coming years, and 3) volatility in prices of commoditised steel products, which will impact prices for low- to mid-end special steel products.
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Wednesday, 07 January 15
FUEL EFFICIENT SHIPS MAKE LESS SENSE IN LOWER BUNKER PRICE MARKET, BUT FUEL COSTS ARE BOUND TO RISE AGAIN
The shipping industry entered 2015 on mixed emotions, as a relatively buoyant tanker market is met by a rather lackluster dry bulk market. Still, a ...
Wednesday, 07 January 15
2015 IS RIDDLED WITH CHALLENGES FOR THE SHIPPING SECTOR, MOST NOTABLY THE DRY BULK MARKET - HELLENIC SHIPPING NEWS
As the new year has now set foot for real, many are still looking to detect what’s in store for the various shipping markets, with the first ...
Tuesday, 06 January 15
SHIPPING MUST ADOPT CAN-DO ATTITUDE IN 2015 - MOORE STEPHENS
Shipping needs to adopt a can-do attitude in order to successfully meet the challenges which are likely to come its way in 2015.
Shipping part ...
Tuesday, 06 January 15
Q4' 15 FOB INDONESIA COAL SWAP CLOSED 1.81% HIGHER COMPARED TO Q1' 15 CLOSING
COALspot.com: Indonesian coal swaps for delivery Q1' 2015 lost month on month and week over week.
The Q1 swap has lost US$ 0.74 (-1.51%) m ...
Tuesday, 06 January 15
FOB RICHARDS BAY COAL SWAPS LOST W-O-W AND M-O-M, SGX DATA SHOWS
COALspot.com: API 4 FOB Richards Bay Coal for delivery Q1' 2015 lost month on month and week over week.
The Q1 swap has lost US$ 3.52 (-5. ...
|
|
|
Showing 3271 to 3275 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Sakthi Sugars Limited - India
- Romanian Commodities Exchange
- Jaiprakash Power Ventures ltd
- Marubeni Corporation - India
- VISA Power Limited - India
- Therma Luzon, Inc, Philippines
- Chamber of Mines of South Africa
- Bukit Makmur.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Edison Trading Spa - Italy
- Coalindo Energy - Indonesia
- The Treasury - Australian Government
- Karbindo Abesyapradhi - Indoneisa
- South Luzon Thermal Energy Corporation
- Eastern Energy - Thailand
- PowerSource Philippines DevCo
- SMG Consultants - Indonesia
- Commonwealth Bank - Australia
- Merrill Lynch Commodities Europe
- CIMB Investment Bank - Malaysia
- Maheswari Brothers Coal Limited - India
- Riau Bara Harum - Indonesia
- Tamil Nadu electricity Board
- Central Electricity Authority - India
- Agrawal Coal Company - India
- Semirara Mining Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Orica Mining Services - Indonesia
- Meralco Power Generation, Philippines
- Globalindo Alam Lestari - Indonesia
- Trasteel International SA, Italy
- GN Power Mariveles Coal Plant, Philippines
- Billiton Holdings Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Tata Chemicals Ltd - India
- Borneo Indobara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- AsiaOL BioFuels Corp., Philippines
- Baramulti Group, Indonesia
- Straits Asia Resources Limited - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Barasentosa Lestari - Indonesia
- Standard Chartered Bank - UAE
- Petron Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Makarim & Taira - Indonesia
- Wood Mackenzie - Singapore
- Bangladesh Power Developement Board
- Directorate General of MIneral and Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- IHS Mccloskey Coal Group - USA
- Directorate Of Revenue Intelligence - India
- Aboitiz Power Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Gujarat Mineral Development Corp Ltd - India
- Sindya Power Generating Company Private Ltd
- Singapore Mercantile Exchange
- Mercator Lines Limited - India
- Georgia Ports Authority, United States
- Electricity Authority, New Zealand
- San Jose City I Power Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Indian Energy Exchange, India
- Anglo American - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Attock Cement Pakistan Limited
- IEA Clean Coal Centre - UK
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Star Paper Mills Limited - India
- SN Aboitiz Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- GMR Energy Limited - India
- Australian Commodity Traders Exchange
- Banpu Public Company Limited - Thailand
- Kepco SPC Power Corporation, Philippines
- Vedanta Resources Plc - India
- Manunggal Multi Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Sarangani Energy Corporation, Philippines
- London Commodity Brokers - England
- OPG Power Generation Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Eastern Coal Council - USA
- Coastal Gujarat Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Xindia Steels Limited - India
- Rio Tinto Coal - Australia
- Gujarat Sidhee Cement - India
- Oldendorff Carriers - Singapore
- Global Coal Blending Company Limited - Australia
- Cement Manufacturers Association - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Medco Energi Mining Internasional
- Formosa Plastics Group - Taiwan
- Deloitte Consulting - India
- Cigading International Bulk Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- Simpson Spence & Young - Indonesia
- Indika Energy - Indonesia
- Mjunction Services Limited - India
- The State Trading Corporation of India Ltd
- Economic Council, Georgia
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement - Thailand
- Dalmia Cement Bharat India
- Iligan Light & Power Inc, Philippines
- Carbofer General Trading SA - India
- Bhoruka Overseas - Indonesia
- Metalloyd Limited - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- White Energy Company Limited
- CNBM International Corporation - China
- Port Waratah Coal Services - Australia
- ICICI Bank Limited - India
- Vizag Seaport Private Limited - India
- Intertek Mineral Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ambuja Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Latin American Coal - Colombia
- Wilmar Investment Holdings
- Bulk Trading Sa - Switzerland
- Maharashtra Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Grasim Industreis Ltd - India
- Africa Commodities Group - South Africa
- Thiess Contractors Indonesia
- Global Green Power PLC Corporation, Philippines
- Mintek Dendrill Indonesia
- MS Steel International - UAE
- Renaissance Capital - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Kumho Petrochemical, South Korea
- Siam City Cement PLC, Thailand
- Uttam Galva Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- Ind-Barath Power Infra Limited - India
- Aditya Birla Group - India
- Antam Resourcindo - Indonesia
- Minerals Council of Australia
- Madhucon Powers Ltd - India
- SMC Global Power, Philippines
- Altura Mining Limited, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Indonesian Coal Mining Association
- India Bulls Power Limited - India
- Interocean Group of Companies - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Planning Commission, India
- Central Java Power - Indonesia
- Energy Development Corp, Philippines
- Salva Resources Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Kideco Jaya Agung - Indonesia
- Indogreen Group - Indonesia
- Chettinad Cement Corporation Ltd - India
- McConnell Dowell - Australia
- Parliament of New Zealand
- LBH Netherlands Bv - Netherlands
- Bhushan Steel Limited - India
- Orica Australia Pty. Ltd.
- Ministry of Transport, Egypt
- The University of Queensland
- Electricity Generating Authority of Thailand
- Bharathi Cement Corporation - India
- Karaikal Port Pvt Ltd - India
- New Zealand Coal & Carbon
- Global Business Power Corporation, Philippines
- Sical Logistics Limited - India
- International Coal Ventures Pvt Ltd - India
- PTC India Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Videocon Industries ltd - India
- Energy Link Ltd, New Zealand
- Lanco Infratech Ltd - India
- Bayan Resources Tbk. - Indonesia
- Malabar Cements Ltd - India
- Australian Coal Association
- Indian Oil Corporation Limited
- Bukit Baiduri Energy - Indonesia
- Larsen & Toubro Limited - India
- Kartika Selabumi Mining - Indonesia
- Posco Energy - South Korea
- Jindal Steel & Power Ltd - India
- Sojitz Corporation - Japan
- Gujarat Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Price Waterhouse Coopers - Russia
- Thai Mozambique Logistica
- Ministry of Finance - Indonesia
- Parry Sugars Refinery, India
- Heidelberg Cement - Germany
- Ministry of Mines - Canada
- GVK Power & Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Coal and Oil Company - UAE
- Jorong Barutama Greston.PT - Indonesia
- Independent Power Producers Association of India
- Samtan Co., Ltd - South Korea
- European Bulk Services B.V. - Netherlands
- Toyota Tsusho Corporation, Japan
- Binh Thuan Hamico - Vietnam
- Power Finance Corporation Ltd., India
- Ceylon Electricity Board - Sri Lanka
- TeaM Sual Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Goldman Sachs - Singapore
- Mercuria Energy - Indonesia
- Bhatia International Limited - India
|
| |
| |
|
