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Monday, 25 April 16
CHINESE STEEL PRICE SURGE NOT SUSTAINABLE - FITCH
 The rapid increase in Chinese steel prices so far this year is not sustainable, as it is largely due to a seasonal pick-up in construction and elevated speculation in the steel futures market, says Fitch Ratings. Fitch expects supply of steel to increase as rising prices lead to capacity resumption, but without a sustainable rise in demand. This will put significant pressure on steel prices in the near term.
According to Fitch, the Chinese steel product prices have increased over 60% year to date. For instance, prices for hot-rolled steel - one of the most widely traded products - increased to CNY3,229 per tonne from CNY1,994 per tonne at the beginning of 2016. Fitch believes the price surge is mostly driven by a seasonal pick-up in fixed-asset investment activity from a low base in the first two months of 2016. This is exacerbated by increased speculation in the steel futures market, driven by liquidity in the financial system.
On the demand side, Fitch said, fixed-asset investment was up 10.7% yoy in 1Q16. Of this, infrastructure was up 19.6% and property 6.2%. Infrastructure investment growth was in line with Fitch's expectations and the usual spurt following the Chinese New Year holidays. However, the pick-up in property investment came earlier than expected. Fitch did not anticipate an increase until 2H16, from a low base in the previous year. Overall, Fitch does not foresee a strong increase in steel demand during 2016 and expects overall fixed-asset investment growth to remain at around 10%, a similar level to 2015.
On the supply side, Fitch commented that, average daily crude steel production was lower in January and February 2016, at around 2.02 million tonnes, compared to 2.21 million tonnes in 2015. Production fell significantly at the end of 2015 due to low steel prices. The total capacity suspended (capacity that is partially in operation or mostly non-operating) in 2015 amounted to around 60 million tonnes, of which only an estimated 15 million tonnes to 17 million tonnes was permanently shut-down and eliminated from the market. With prices now surging, many of the suspended plants have resumed production. This was partially reflected in March 2016 production figures, where daily crude steel production rose to 2.28 million tonnes, up 12.9% compared to January and February 2016.
Fitch expects production to increase further in April, as the suspended furnaces are fired up. This, together with weak demand growth for steel in 2016, is likely to soon result in declining steel prices.
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Wednesday, 31 January 24
CHINA'S INNER MONGOLIA COAL OUTPUT HIT 1.21B TONS IN 2023 - XINHUA
North China’s Inner Mongolia autonomous region churned out 1.21 billion tons of coal in 2023 as it strives to guarantee the country’s e ...
Wednesday, 31 January 24
GAS EXPORTS COST U.S. CONSUMERS MORE THAN $100 BILLION OVER 16-MONTH PERIOD - IEEFA
Limited Demand Growth Could Dampen the Dry Bulk Market in the Coming Months BIMCOStarting in late 2021—before its invasion of Ukraine—R ...
Tuesday, 30 January 24
LIMITED DEMAND GROWTH COULD DAMPEN THE DRY BULK MARKET IN THE COMING MONTHS - BIMCO
Demand
In our base scenario, we expect cargo demand to grow by 0-1% in 2024 and 0.5-1.5% in 2025. This is a 0.5 percentage point reduction for ...
Friday, 26 January 24
RED SEA DIVERSIONS ADD NEARLY A MILLION DOLLARS PER VOYAGE TO SHIPPING COSTS WHILE DOUBLING TRANSIT TIME - LSEG
The incremental costs of diverting a tanker from Asia to NW Europe via the Cape of Good Hope is accounting for an extra $932,905 USD per voyage whi ...
Friday, 26 January 24
HARD COAL GUARDIAN ANGEL OF THE ENERGY SUPPLY - GERMANY COAL IMPORTERS ASSOCIATION
- No security of supply without hard coal
- The Substitute Power Plant Provision Act (EKBG) must be extended
- Higher grid fees due to the ...
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- Holcim Trading Pte Ltd - Singapore
- Trasteel International SA, Italy
- Renaissance Capital - South Africa
- Intertek Mineral Services - Indonesia
- Tata Chemicals Ltd - India
- Africa Commodities Group - South Africa
- Global Coal Blending Company Limited - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PTC India Limited - India
- Essar Steel Hazira Ltd - India
- Marubeni Corporation - India
- Central Electricity Authority - India
- Ministry of Mines - Canada
- Australian Coal Association
- Antam Resourcindo - Indonesia
- Price Waterhouse Coopers - Russia
- Orica Mining Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- International Coal Ventures Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Global Business Power Corporation, Philippines
- Indogreen Group - Indonesia
- Thiess Contractors Indonesia
- Singapore Mercantile Exchange
- Interocean Group of Companies - India
- Georgia Ports Authority, United States
- Binh Thuan Hamico - Vietnam
- Karaikal Port Pvt Ltd - India
- Goldman Sachs - Singapore
- Standard Chartered Bank - UAE
- ASAPP Information Group - India
- Mercator Lines Limited - India
- SMC Global Power, Philippines
- Samtan Co., Ltd - South Korea
- Electricity Authority, New Zealand
- Barasentosa Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- CIMB Investment Bank - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Grasim Industreis Ltd - India
- The Treasury - Australian Government
- San Jose City I Power Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Mjunction Services Limited - India
- Indian Energy Exchange, India
- CNBM International Corporation - China
- Electricity Generating Authority of Thailand
- McConnell Dowell - Australia
- Banpu Public Company Limited - Thailand
- White Energy Company Limited
- Altura Mining Limited, Indonesia
- Bangladesh Power Developement Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kalimantan Lumbung Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Kaltim Prima Coal - Indonesia
- Coal and Oil Company - UAE
- Cigading International Bulk Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Borneo Indobara - Indonesia
- Bukit Baiduri Energy - Indonesia
- IEA Clean Coal Centre - UK
- Deloitte Consulting - India
- GN Power Mariveles Coal Plant, Philippines
- GVK Power & Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- European Bulk Services B.V. - Netherlands
- Xindia Steels Limited - India
- The State Trading Corporation of India Ltd
- Jindal Steel & Power Ltd - India
- Latin American Coal - Colombia
- PNOC Exploration Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercuria Energy - Indonesia
- Vedanta Resources Plc - India
- Sarangani Energy Corporation, Philippines
- Larsen & Toubro Limited - India
- Bhoruka Overseas - Indonesia
- Energy Link Ltd, New Zealand
- Kepco SPC Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Semirara Mining Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Vizag Seaport Private Limited - India
- Commonwealth Bank - Australia
- Port Waratah Coal Services - Australia
- Lanco Infratech Ltd - India
- ICICI Bank Limited - India
- The University of Queensland
- Economic Council, Georgia
- Indika Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Pendopo Energi Batubara - Indonesia
- Merrill Lynch Commodities Europe
- IHS Mccloskey Coal Group - USA
- Bukit Makmur.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Dalmia Cement Bharat India
- Ind-Barath Power Infra Limited - India
- Mintek Dendrill Indonesia
- MS Steel International - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Development Corp, Philippines
- Central Java Power - Indonesia
- Sical Logistics Limited - India
- Edison Trading Spa - Italy
- Wilmar Investment Holdings
- Bhushan Steel Limited - India
- Therma Luzon, Inc, Philippines
- Petron Corporation, Philippines
- Independent Power Producers Association of India
- Salva Resources Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Power Finance Corporation Ltd., India
- Indo Tambangraya Megah - Indonesia
- PowerSource Philippines DevCo
- Petrochimia International Co. Ltd.- Taiwan
- Bharathi Cement Corporation - India
- TeaM Sual Corporation - Philippines
- Baramulti Group, Indonesia
- Heidelberg Cement - Germany
- Agrawal Coal Company - India
- Aditya Birla Group - India
- Parry Sugars Refinery, India
- Sojitz Corporation - Japan
- Vijayanagar Sugar Pvt Ltd - India
- Madhucon Powers Ltd - India
- Maheswari Brothers Coal Limited - India
- Attock Cement Pakistan Limited
- Meralco Power Generation, Philippines
- Directorate Of Revenue Intelligence - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Iligan Light & Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Kumho Petrochemical, South Korea
- Metalloyd Limited - United Kingdom
- Ministry of Finance - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Ambuja Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Manunggal Multi Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Sakthi Sugars Limited - India
- Carbofer General Trading SA - India
- Romanian Commodities Exchange
- Rashtriya Ispat Nigam Limited - India
- Sinarmas Energy and Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Kartika Selabumi Mining - Indonesia
- Indian Oil Corporation Limited
- Posco Energy - South Korea
- Globalindo Alam Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- Planning Commission, India
- Uttam Galva Steels Limited - India
- Indonesian Coal Mining Association
- Eastern Coal Council - USA
- Eastern Energy - Thailand
- AsiaOL BioFuels Corp., Philippines
- Parliament of New Zealand
- Cement Manufacturers Association - India
- London Commodity Brokers - England
- Billiton Holdings Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- Meenaskhi Energy Private Limited - India
- VISA Power Limited - India
- New Zealand Coal & Carbon
- Medco Energi Mining Internasional
- Siam City Cement PLC, Thailand
- Videocon Industries ltd - India
- Gujarat Sidhee Cement - India
- Bhatia International Limited - India
- Australian Commodity Traders Exchange
- Karbindo Abesyapradhi - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Aboitiz Power Corporation - Philippines
- Wood Mackenzie - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Coalindo Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Ministry of Transport, Egypt
- South Luzon Thermal Energy Corporation
- SN Aboitiz Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- SMG Consultants - Indonesia
- Thai Mozambique Logistica
- Bulk Trading Sa - Switzerland
- Leighton Contractors Pty Ltd - Australia
- Rio Tinto Coal - Australia
- Makarim & Taira - Indonesia
- Global Green Power PLC Corporation, Philippines
- Malabar Cements Ltd - India
- Tamil Nadu electricity Board
- Kobexindo Tractors - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Minerals Council of Australia
- Semirara Mining and Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Jaiprakash Power Ventures ltd
- TNB Fuel Sdn Bhd - Malaysia
- GMR Energy Limited - India
- Star Paper Mills Limited - India
- Savvy Resources Ltd - HongKong
- Orica Australia Pty. Ltd.
- India Bulls Power Limited - India
- Riau Bara Harum - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Chamber of Mines of South Africa
- Anglo American - United Kingdom
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