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, 17 December 14
MARKET INSIGHT - INTERMODAL SHANGHAI, SNP TEAM
As the end of the fourth quarter is approaching, we are all witness to the second hand market prices softening day by day. Any new deal surfacing t ...
Tuesday, 16 December 14
THIS PRICE IS A STEAL - EVA TZIMA
COALspot.com: Despite concerns that the slowdown of the Chinese economy would affect imports of iron ore, it seems that this has not been the case ...
Tuesday, 16 December 14
FOB RICHARDS BAY COAL SWAP FOR Q2' 15 DELIVERY CLOSED AT US$ 65.60 PMT
COALspot.com: API 4 FOB Richards Bay Coal for delivery Q1' 2015 lost month on month.
The Q1 swap has lost US$ 0.18 (-0.27%) month on month ...
Tuesday, 16 December 14
SUB-BIT FOB INDONESIA COAL SWAP CONTINUES ITS FALL
COALspot.com: Indonesian coal swaps for delivery Q1' 2015 lost month on month, week over week and day on day.
The Q1 swap has lost US$ 1.7 ...
Monday, 15 December 14
WILL TANKERS BENEFIT FROM REEMERGENCE OF FLOATING STORAGE PLAYS? - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The tanker market has been seeing high freight rates for some time now, riding on the back of low oil prices, which are boosting demand from develo ...
|
|
|
Showing 3306 to 3310 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining and Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- GVK Power & Infra Limited - India
- Port Waratah Coal Services - Australia
- Thiess Contractors Indonesia
- Ministry of Mines - Canada
- Bharathi Cement Corporation - India
- Meralco Power Generation, Philippines
- IEA Clean Coal Centre - UK
- Jindal Steel & Power Ltd - India
- Economic Council, Georgia
- PTC India Limited - India
- Edison Trading Spa - Italy
- Karaikal Port Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- SMG Consultants - Indonesia
- Bukit Baiduri Energy - Indonesia
- Star Paper Mills Limited - India
- Wilmar Investment Holdings
- Posco Energy - South Korea
- Thai Mozambique Logistica
- Intertek Mineral Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Maharashtra Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- LBH Netherlands Bv - Netherlands
- Savvy Resources Ltd - HongKong
- South Luzon Thermal Energy Corporation
- Ceylon Electricity Board - Sri Lanka
- Krishnapatnam Port Company Ltd. - India
- Vedanta Resources Plc - India
- Sical Logistics Limited - India
- Indian Energy Exchange, India
- Agrawal Coal Company - India
- Toyota Tsusho Corporation, Japan
- TNB Fuel Sdn Bhd - Malaysia
- Sree Jayajothi Cements Limited - India
- Ministry of Transport, Egypt
- MS Steel International - UAE
- Aboitiz Power Corporation - Philippines
- New Zealand Coal & Carbon
- Carbofer General Trading SA - India
- Larsen & Toubro Limited - India
- Global Business Power Corporation, Philippines
- Bhushan Steel Limited - India
- Formosa Plastics Group - Taiwan
- Globalindo Alam Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- Madhucon Powers Ltd - India
- Romanian Commodities Exchange
- Siam City Cement PLC, Thailand
- Ambuja Cements Ltd - India
- Riau Bara Harum - Indonesia
- Electricity Generating Authority of Thailand
- GAC Shipping (India) Pvt Ltd
- Rashtriya Ispat Nigam Limited - India
- Interocean Group of Companies - India
- Energy Link Ltd, New Zealand
- Ind-Barath Power Infra Limited - India
- Essar Steel Hazira Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- ASAPP Information Group - India
- Australian Coal Association
- Jaiprakash Power Ventures ltd
- Metalloyd Limited - United Kingdom
- Simpson Spence & Young - Indonesia
- Independent Power Producers Association of India
- Indo Tambangraya Megah - Indonesia
- Standard Chartered Bank - UAE
- Australian Commodity Traders Exchange
- CIMB Investment Bank - Malaysia
- International Coal Ventures Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Merrill Lynch Commodities Europe
- Malabar Cements Ltd - India
- Energy Development Corp, Philippines
- Barasentosa Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Petron Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Altura Mining Limited, Indonesia
- White Energy Company Limited
- GMR Energy Limited - India
- Kaltim Prima Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- OPG Power Generation Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Trasteel International SA, Italy
- Tamil Nadu electricity Board
- Kapuas Tunggal Persada - Indonesia
- PNOC Exploration Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Latin American Coal - Colombia
- Indonesian Coal Mining Association
- Aditya Birla Group - India
- Mercator Lines Limited - India
- Rio Tinto Coal - Australia
- Global Green Power PLC Corporation, Philippines
- Dalmia Cement Bharat India
- Indian Oil Corporation Limited
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bukit Makmur.PT - Indonesia
- Central Electricity Authority - India
- Sojitz Corporation - Japan
- Africa Commodities Group - South Africa
- Kumho Petrochemical, South Korea
- Straits Asia Resources Limited - Singapore
- Bhatia International Limited - India
- Marubeni Corporation - India
- SMC Global Power, Philippines
- Samtan Co., Ltd - South Korea
- Indogreen Group - Indonesia
- Bhoruka Overseas - Indonesia
- ICICI Bank Limited - India
- Coalindo Energy - Indonesia
- Borneo Indobara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parliament of New Zealand
- Therma Luzon, Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Coal and Oil Company - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Grasim Industreis Ltd - India
- The University of Queensland
- Sakthi Sugars Limited - India
- Coastal Gujarat Power Limited - India
- Georgia Ports Authority, United States
- Banpu Public Company Limited - Thailand
- Chettinad Cement Corporation Ltd - India
- Commonwealth Bank - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Billiton Holdings Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Cigading International Bulk Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Lanco Infratech Ltd - India
- Eastern Coal Council - USA
- Salva Resources Pvt Ltd - India
- Makarim & Taira - Indonesia
- Maheswari Brothers Coal Limited - India
- Manunggal Multi Energi - Indonesia
- Electricity Authority, New Zealand
- Bulk Trading Sa - Switzerland
- Mintek Dendrill Indonesia
- London Commodity Brokers - England
- TeaM Sual Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Orica Australia Pty. Ltd.
- India Bulls Power Limited - India
- Cement Manufacturers Association - India
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Sidhee Cement - India
- Singapore Mercantile Exchange
- CNBM International Corporation - China
- Iligan Light & Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Oldendorff Carriers - Singapore
- European Bulk Services B.V. - Netherlands
- Eastern Energy - Thailand
- Binh Thuan Hamico - Vietnam
- Baramulti Group, Indonesia
- Price Waterhouse Coopers - Russia
- Siam City Cement - Thailand
- Medco Energi Mining Internasional
- Goldman Sachs - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- The Treasury - Australian Government
- Kepco SPC Power Corporation, Philippines
- Deloitte Consulting - India
- Central Java Power - Indonesia
- Bangladesh Power Developement Board
- Ministry of Finance - Indonesia
- Indika Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Chamber of Mines of South Africa
- Anglo American - United Kingdom
- PowerSource Philippines DevCo
- Minerals Council of Australia
- Videocon Industries ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Parry Sugars Refinery, India
- Kartika Selabumi Mining - Indonesia
- San Jose City I Power Corp, Philippines
- IHS Mccloskey Coal Group - USA
- McConnell Dowell - Australia
- SN Aboitiz Power Inc, Philippines
- Xindia Steels Limited - India
- Vizag Seaport Private Limited - India
- VISA Power Limited - India
- Directorate Of Revenue Intelligence - India
- Attock Cement Pakistan Limited
- Power Finance Corporation Ltd., India
- Meenaskhi Energy Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Mjunction Services Limited - India
- Bayan Resources Tbk. - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Heidelberg Cement - Germany
- Renaissance Capital - South Africa
- Pendopo Energi Batubara - Indonesia
- Mercuria Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Wood Mackenzie - Singapore
- Uttam Galva Steels Limited - India
- Orica Mining Services - Indonesia
- Semirara Mining Corp, Philippines
- Planning Commission, India
|
| |
| |
|
