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.
|
|
Thursday, 20 November 14
HANDY: INDO ROUNDS ARE BEING FIXED IN REGION OF US$ 10K - FEARNLEYS
Handy
In the Atlantic we have experienced firmer rates this week much lead by the grain activity out of USG. Vsls open in the USG can achieve in ...
Thursday, 20 November 14
DEMAND FOR DRY BULK CARRIERS INCREASES ON THE BACK OF HEIGHTENED FREIGHT RATE MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Ship owners are looking to take advantage of favorable market conditions through the acquisition of more dry bulk carriers. According to shipbroker ...
Wednesday, 19 November 14
INDONESIA FUEL-PRICE RISE A CLEAR, POSITIVE REFORM SIGNAL - FITCH
COALspot.com: Indonesia's hike of more than 30% in administered fuel prices, announced on 17 November, provides a clear, positive signal of the ...
Wednesday, 19 November 14
CAPES WERE UNDER PRESSURE; LOST 20% WITHIN A WEEK
COALspot.com: " The negative environment in which the week prior ended, marked this past week as well, which closed off on Friday noting the f ...
Wednesday, 19 November 14
SHIPPING MARKET INSIGHT - BY KATERINA RESTIS
The current Ebola outbreak in West Africa has been declared as a worldwide health emergency by the World Health Organization and has had a great im ...
|
|
|
Showing 3361 to 3365 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Parry Sugars Refinery, India
- Sinarmas Energy and Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Uttam Galva Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ICICI Bank Limited - India
- SN Aboitiz Power Inc, Philippines
- GMR Energy Limited - India
- Heidelberg Cement - Germany
- Kumho Petrochemical, South Korea
- White Energy Company Limited
- Simpson Spence & Young - Indonesia
- Bulk Trading Sa - Switzerland
- Thiess Contractors Indonesia
- Borneo Indobara - Indonesia
- Grasim Industreis Ltd - India
- Goldman Sachs - Singapore
- Medco Energi Mining Internasional
- Chettinad Cement Corporation Ltd - India
- Mintek Dendrill Indonesia
- Gujarat Mineral Development Corp Ltd - India
- ASAPP Information Group - India
- Central Java Power - Indonesia
- VISA Power Limited - India
- Bangladesh Power Developement Board
- Eastern Coal Council - USA
- Directorate Of Revenue Intelligence - India
- Karbindo Abesyapradhi - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Energy Development Corp, Philippines
- GVK Power & Infra Limited - India
- Ind-Barath Power Infra Limited - India
- Star Paper Mills Limited - India
- Australian Coal Association
- Pendopo Energi Batubara - Indonesia
- Makarim & Taira - Indonesia
- Kartika Selabumi Mining - Indonesia
- Tamil Nadu electricity Board
- Parliament of New Zealand
- SMC Global Power, Philippines
- Rio Tinto Coal - Australia
- Bukit Baiduri Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Australian Commodity Traders Exchange
- Billiton Holdings Pty Ltd - Australia
- Sical Logistics Limited - India
- Samtan Co., Ltd - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- The State Trading Corporation of India Ltd
- Gujarat Sidhee Cement - India
- Antam Resourcindo - Indonesia
- Bharathi Cement Corporation - India
- Indika Energy - Indonesia
- Economic Council, Georgia
- Price Waterhouse Coopers - Russia
- New Zealand Coal & Carbon
- PNOC Exploration Corporation - Philippines
- Global Business Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Altura Mining Limited, Indonesia
- Savvy Resources Ltd - HongKong
- McConnell Dowell - Australia
- MS Steel International - UAE
- Barasentosa Lestari - Indonesia
- Indian Energy Exchange, India
- Marubeni Corporation - India
- Banpu Public Company Limited - Thailand
- Videocon Industries ltd - India
- Mercator Lines Limited - India
- Africa Commodities Group - South Africa
- Indogreen Group - Indonesia
- IHS Mccloskey Coal Group - USA
- Leighton Contractors Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Ministry of Transport, Egypt
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhushan Steel Limited - India
- Maheswari Brothers Coal Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Sindya Power Generating Company Private Ltd
- Singapore Mercantile Exchange
- Aboitiz Power Corporation - Philippines
- Attock Cement Pakistan Limited
- Lanco Infratech Ltd - India
- Kobexindo Tractors - Indoneisa
- Mjunction Services Limited - India
- Power Finance Corporation Ltd., India
- Alfred C Toepfer International GmbH - Germany
- South Luzon Thermal Energy Corporation
- PowerSource Philippines DevCo
- Vizag Seaport Private Limited - India
- Indian Oil Corporation Limited
- Global Coal Blending Company Limited - Australia
- Orica Mining Services - Indonesia
- Thai Mozambique Logistica
- Kideco Jaya Agung - Indonesia
- Xindia Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Minerals Council of Australia
- Metalloyd Limited - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- Madhucon Powers Ltd - India
- Georgia Ports Authority, United States
- The University of Queensland
- Riau Bara Harum - Indonesia
- Binh Thuan Hamico - Vietnam
- Energy Link Ltd, New Zealand
- Kepco SPC Power Corporation, Philippines
- London Commodity Brokers - England
- Bayan Resources Tbk. - Indonesia
- Anglo American - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- Deloitte Consulting - India
- Malabar Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- IEA Clean Coal Centre - UK
- Mercuria Energy - Indonesia
- Posco Energy - South Korea
- India Bulls Power Limited - India
- Ministry of Finance - Indonesia
- Wood Mackenzie - Singapore
- Baramulti Group, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Dalmia Cement Bharat India
- Global Green Power PLC Corporation, Philippines
- Agrawal Coal Company - India
- SMG Consultants - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Central Electricity Authority - India
- Indonesian Coal Mining Association
- Jindal Steel & Power Ltd - India
- International Coal Ventures Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Coastal Gujarat Power Limited - India
- Interocean Group of Companies - India
- Cement Manufacturers Association - India
- Chamber of Mines of South Africa
- Kohat Cement Company Ltd. - Pakistan
- Kaltim Prima Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Semirara Mining Corp, Philippines
- Siam City Cement - Thailand
- Sarangani Energy Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Coalindo Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jorong Barutama Greston.PT - Indonesia
- Salva Resources Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Aditya Birla Group - India
- San Jose City I Power Corp, Philippines
- Siam City Cement PLC, Thailand
- Carbofer General Trading SA - India
- Merrill Lynch Commodities Europe
- European Bulk Services B.V. - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Ministry of Mines - Canada
- The Treasury - Australian Government
- LBH Netherlands Bv - Netherlands
- Bukit Makmur.PT - Indonesia
- Petron Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Indo Tambangraya Megah - Indonesia
- Renaissance Capital - South Africa
- Electricity Generating Authority of Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Planning Commission, India
- Karaikal Port Pvt Ltd - India
- Larsen & Toubro Limited - India
- CNBM International Corporation - China
- Meralco Power Generation, Philippines
- OPG Power Generation Pvt Ltd - India
- Romanian Commodities Exchange
- Bhoruka Overseas - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Port Waratah Coal Services - Australia
- Eastern Energy - Thailand
- PTC India Limited - India
- Formosa Plastics Group - Taiwan
- Commonwealth Bank - Australia
- Directorate General of MIneral and Coal - Indonesia
- Sojitz Corporation - Japan
- Vedanta Resources Plc - India
- Edison Trading Spa - Italy
- Jaiprakash Power Ventures ltd
- Essar Steel Hazira Ltd - India
- Latin American Coal - Colombia
- Bhatia International Limited - India
- Independent Power Producers Association of India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Coal and Oil Company - UAE
- Asmin Koalindo Tuhup - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Wilmar Investment Holdings
- Oldendorff Carriers - Singapore
- Manunggal Multi Energi - Indonesia
- Ambuja Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Intertek Mineral Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Iligan Light & Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Electricity Authority, New Zealand
- Trasteel International SA, Italy
- Sakthi Sugars Limited - India
|
| |
| |
|
