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.
|
|
Friday, 31 October 14
BUKIT ASAM'S NET PROFIT ROSE 27.42% FOR THE PERIOD JANUARY - SEPTEMBER 2014
COALspot.com: Publicly listed coal miner Bukit Asam reported solid profits in the first nine months of 2014 year.
Coal miner Bukit Asam manage ...
Friday, 31 October 14
U.S PRODUCED AROUND 19.3 MMST OF COAL IN A WEEK
COALspot.com – United States the world's one of largest coal producers, produced approximately 19.3 million short tons (mmst) of coal in ...
Thursday, 30 October 14
COAL & GRAINS SUPPORT PANAMAX AND IRON ORE SUPPORTS CAPES
Handy
The Atlantic market has been flat this week. Rates are up about US$ 200 from last week on the TA´s, but the volumes are about the sam ...
Thursday, 30 October 14
DOES A LOU ARBITRATION AGREEMENT FOR THE UNDERLYING CARGO CLAIM COMPLETELY REPLACE THE BILL OF LADING ARBITRATION CLAUSE? - INCE &CO
KNOWLEDGE TO ELEVATE
In the context of cargo claims brought under four bills of lading, the Commercial Court has recently considered whether a ...
Wednesday, 29 October 14
GOOD REASON WHY Q4 CAPESIZE OUTLOOK WAS SO BULLISH AT START OF THE YEAR - COMMODORE RESEARCH
COALspot.com: There was good reason why so many analysts' capesize outlook for Q4 was so very strong at the start of this year. Brazilian ...
|
|
|
Showing 3401 to 3405 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Semirara Mining Corp, Philippines
- Marubeni Corporation - India
- Alfred C Toepfer International GmbH - Germany
- Renaissance Capital - South Africa
- Savvy Resources Ltd - HongKong
- Ministry of Transport, Egypt
- Anglo American - United Kingdom
- Indian Oil Corporation Limited
- Salva Resources Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- TeaM Sual Corporation - Philippines
- Australian Commodity Traders Exchange
- Kaltim Prima Coal - Indonesia
- Malabar Cements Ltd - India
- Wilmar Investment Holdings
- Bhushan Steel Limited - India
- Electricity Authority, New Zealand
- Ind-Barath Power Infra Limited - India
- Sojitz Corporation - Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sree Jayajothi Cements Limited - India
- Aditya Birla Group - India
- ICICI Bank Limited - India
- Port Waratah Coal Services - Australia
- Energy Development Corp, Philippines
- Wood Mackenzie - Singapore
- Africa Commodities Group - South Africa
- IHS Mccloskey Coal Group - USA
- Independent Power Producers Association of India
- TNB Fuel Sdn Bhd - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- OPG Power Generation Pvt Ltd - India
- Siam City Cement - Thailand
- Indo Tambangraya Megah - Indonesia
- Minerals Council of Australia
- Karbindo Abesyapradhi - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Timah Investasi Mineral - Indoneisa
- Jaiprakash Power Ventures ltd
- Vedanta Resources Plc - India
- Bharathi Cement Corporation - India
- Medco Energi Mining Internasional
- Bhatia International Limited - India
- AsiaOL BioFuels Corp., Philippines
- CIMB Investment Bank - Malaysia
- Gujarat Electricity Regulatory Commission - India
- The Treasury - Australian Government
- Orica Australia Pty. Ltd.
- Deloitte Consulting - India
- International Coal Ventures Pvt Ltd - India
- Lanco Infratech Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Thiess Contractors Indonesia
- Interocean Group of Companies - India
- Agrawal Coal Company - India
- GVK Power & Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Maheswari Brothers Coal Limited - India
- Krishnapatnam Port Company Ltd. - India
- SMG Consultants - Indonesia
- Energy Link Ltd, New Zealand
- McConnell Dowell - Australia
- The State Trading Corporation of India Ltd
- PetroVietnam Power Coal Import and Supply Company
- Indogreen Group - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Dalmia Cement Bharat India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhoruka Overseas - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Banpu Public Company Limited - Thailand
- PowerSource Philippines DevCo
- Binh Thuan Hamico - Vietnam
- Parry Sugars Refinery, India
- Sindya Power Generating Company Private Ltd
- Mintek Dendrill Indonesia
- Sinarmas Energy and Mining - Indonesia
- Mjunction Services Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kartika Selabumi Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- Indian Energy Exchange, India
- Latin American Coal - Colombia
- Attock Cement Pakistan Limited
- ASAPP Information Group - India
- Larsen & Toubro Limited - India
- Tamil Nadu electricity Board
- Sical Logistics Limited - India
- Bangladesh Power Developement Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Kobexindo Tractors - Indoneisa
- Karaikal Port Pvt Ltd - India
- Rio Tinto Coal - Australia
- CNBM International Corporation - China
- Billiton Holdings Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Coastal Gujarat Power Limited - India
- Electricity Generating Authority of Thailand
- SMC Global Power, Philippines
- Heidelberg Cement - Germany
- Petrochimia International Co. Ltd.- Taiwan
- Indika Energy - Indonesia
- Central Electricity Authority - India
- Cement Manufacturers Association - India
- Xindia Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Chettinad Cement Corporation Ltd - India
- Mercuria Energy - Indonesia
- Kumho Petrochemical, South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Sarangani Energy Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Cigading International Bulk Terminal - Indonesia
- Meralco Power Generation, Philippines
- White Energy Company Limited
- MS Steel International - UAE
- Indonesian Coal Mining Association
- Grasim Industreis Ltd - India
- Meenaskhi Energy Private Limited - India
- Coal and Oil Company - UAE
- Eastern Coal Council - USA
- Bulk Trading Sa - Switzerland
- PTC India Limited - India
- Sakthi Sugars Limited - India
- Global Coal Blending Company Limited - Australia
- Semirara Mining and Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Posco Energy - South Korea
- Jorong Barutama Greston.PT - Indonesia
- VISA Power Limited - India
- Mercator Lines Limited - India
- Global Business Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Standard Chartered Bank - UAE
- Altura Mining Limited, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- European Bulk Services B.V. - Netherlands
- Borneo Indobara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- New Zealand Coal & Carbon
- Planning Commission, India
- Neyveli Lignite Corporation Ltd, - India
- The University of Queensland
- Tata Chemicals Ltd - India
- Simpson Spence & Young - Indonesia
- Parliament of New Zealand
- Thai Mozambique Logistica
- Merrill Lynch Commodities Europe
- Kideco Jaya Agung - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Directorate Of Revenue Intelligence - India
- Toyota Tsusho Corporation, Japan
- Samtan Co., Ltd - South Korea
- Eastern Energy - Thailand
- Trasteel International SA, Italy
- Makarim & Taira - Indonesia
- Ambuja Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Central Java Power - Indonesia
- Metalloyd Limited - United Kingdom
- Oldendorff Carriers - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Georgia Ports Authority, United States
- Petron Corporation, Philippines
- Formosa Plastics Group - Taiwan
- SN Aboitiz Power Inc, Philippines
- Star Paper Mills Limited - India
- Chamber of Mines of South Africa
- Commonwealth Bank - Australia
- Ministry of Mines - Canada
- Economic Council, Georgia
- Goldman Sachs - Singapore
- Ceylon Electricity Board - Sri Lanka
- Singapore Mercantile Exchange
- Baramulti Group, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- South Luzon Thermal Energy Corporation
- IEA Clean Coal Centre - UK
- Gujarat Sidhee Cement - India
- PNOC Exploration Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Romanian Commodities Exchange
- Antam Resourcindo - Indonesia
- GMR Energy Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Uttam Galva Steels Limited - India
- Vizag Seaport Private Limited - India
- Madhucon Powers Ltd - India
- Coalindo Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bukit Makmur.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Siam City Cement PLC, Thailand
- San Jose City I Power Corp, Philippines
- Australian Coal Association
- Carbofer General Trading SA - India
- Orica Mining Services - Indonesia
- Edison Trading Spa - Italy
- Kepco SPC Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Globalindo Alam Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- London Commodity Brokers - England
- India Bulls Power Limited - India
- Videocon Industries ltd - India
|
| |
| |
|
