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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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Monday, 08 January 24
KOSPO TO BUY 80000 MT OF INDONESIAN LOW CALORIFIC VALUE COAL FOR FEB 2024
Korea Southern Power Co., Ltd. (KOSPO), is inviting bids for the supply of Indonesian Low Calorific Value Coal from qualified suppliers for Korean ...
Monday, 08 January 24
SEABORNE TRADE REACHES 12.4BN TONNES - CLARKSONS
China will establish a back-up coal production system by 2027 to stabilise prices and secure coal supply, the state planner said on Wednesday, even ...
Monday, 08 January 24
CAPESIZES START THE NEW YEAR ON POSITIVE NOTE - BALTIC EXCHANGE
Capesize
This week the capsize market has been marked by a mix of activities and challenges. Despite a slow start following the Christmas and N ...
Friday, 05 January 24
MORGAN STANLEY SEES LOWER OIL PRICES IN 2024 ON OVERSUPPLY CONCERNS - REUTERS
Morgan Stanley sees Brent crude prices anchored near $80 per barrel in the first half in 2024 before declining towards the end of the year as it ex ...
Friday, 05 January 24
INDIA'S COAL OUTPUT RISES NEARLY 11 PC IN DEC TO 92.87 MT - PTI
India’s coal production increased by 10.75 per cent to 92.87 million tonne in December 2023 as compared to the year-ago period, an official s ...
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- Sarangani Energy Corporation, Philippines
- Grasim Industreis Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Oldendorff Carriers - Singapore
- Borneo Indobara - Indonesia
- Simpson Spence & Young - Indonesia
- Orica Mining Services - Indonesia
- Parry Sugars Refinery, India
- Ministry of Finance - Indonesia
- Straits Asia Resources Limited - Singapore
- Jindal Steel & Power Ltd - India
- Petron Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Uttam Galva Steels Limited - India
- Indonesian Coal Mining Association
- Minerals Council of Australia
- Tamil Nadu electricity Board
- Salva Resources Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Gujarat Sidhee Cement - India
- Carbofer General Trading SA - India
- Anglo American - United Kingdom
- Bhatia International Limited - India
- ICICI Bank Limited - India
- Manunggal Multi Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- Commonwealth Bank - Australia
- Mercator Lines Limited - India
- Chamber of Mines of South Africa
- Indian Energy Exchange, India
- Alfred C Toepfer International GmbH - Germany
- Kartika Selabumi Mining - Indonesia
- Metalloyd Limited - United Kingdom
- SMG Consultants - Indonesia
- European Bulk Services B.V. - Netherlands
- Posco Energy - South Korea
- Wood Mackenzie - Singapore
- Agrawal Coal Company - India
- Standard Chartered Bank - UAE
- Holcim Trading Pte Ltd - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Energy Link Ltd, New Zealand
- Ministry of Mines - Canada
- The State Trading Corporation of India Ltd
- Directorate General of MIneral and Coal - Indonesia
- Antam Resourcindo - Indonesia
- Renaissance Capital - South Africa
- Directorate Of Revenue Intelligence - India
- Formosa Plastics Group - Taiwan
- Krishnapatnam Port Company Ltd. - India
- Riau Bara Harum - Indonesia
- CNBM International Corporation - China
- Samtan Co., Ltd - South Korea
- Port Waratah Coal Services - Australia
- Kaltim Prima Coal - Indonesia
- Banpu Public Company Limited - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Parliament of New Zealand
- South Luzon Thermal Energy Corporation
- Power Finance Corporation Ltd., India
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Ind-Barath Power Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Coal and Oil Company - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Iligan Light & Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aboitiz Power Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Semirara Mining and Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Africa Commodities Group - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Central Java Power - Indonesia
- AsiaOL BioFuels Corp., Philippines
- GVK Power & Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Merrill Lynch Commodities Europe
- Meenaskhi Energy Private Limited - India
- Attock Cement Pakistan Limited
- Eastern Coal Council - USA
- Dalmia Cement Bharat India
- Binh Thuan Hamico - Vietnam
- Intertek Mineral Services - Indonesia
- Goldman Sachs - Singapore
- The Treasury - Australian Government
- Romanian Commodities Exchange
- Rashtriya Ispat Nigam Limited - India
- ASAPP Information Group - India
- Siam City Cement PLC, Thailand
- Kapuas Tunggal Persada - Indonesia
- White Energy Company Limited
- Karaikal Port Pvt Ltd - India
- Meralco Power Generation, Philippines
- Barasentosa Lestari - Indonesia
- Tata Chemicals Ltd - India
- Sree Jayajothi Cements Limited - India
- Gujarat Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- India Bulls Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Indika Energy - Indonesia
- Edison Trading Spa - Italy
- Central Electricity Authority - India
- Rio Tinto Coal - Australia
- Globalindo Alam Lestari - Indonesia
- Baramulti Group, Indonesia
- Bayan Resources Tbk. - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- PowerSource Philippines DevCo
- IEA Clean Coal Centre - UK
- GAC Shipping (India) Pvt Ltd
- VISA Power Limited - India
- Bharathi Cement Corporation - India
- Coalindo Energy - Indonesia
- Vedanta Resources Plc - India
- Bhushan Steel Limited - India
- Makarim & Taira - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Malabar Cements Ltd - India
- Madhucon Powers Ltd - India
- Sakthi Sugars Limited - India
- Kepco SPC Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Singapore Mercantile Exchange
- Billiton Holdings Pty Ltd - Australia
- Australian Coal Association
- Kideco Jaya Agung - Indonesia
- Medco Energi Mining Internasional
- Global Coal Blending Company Limited - Australia
- Thiess Contractors Indonesia
- Independent Power Producers Association of India
- Videocon Industries ltd - India
- Xindia Steels Limited - India
- Jaiprakash Power Ventures ltd
- McConnell Dowell - Australia
- Heidelberg Cement - Germany
- Energy Development Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Deloitte Consulting - India
- Global Business Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Trasteel International SA, Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Leighton Contractors Pty Ltd - Australia
- Star Paper Mills Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Miang Besar Coal Terminal - Indonesia
- The University of Queensland
- Vijayanagar Sugar Pvt Ltd - India
- Sojitz Corporation - Japan
- Coastal Gujarat Power Limited - India
- Cement Manufacturers Association - India
- Mercuria Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Ministry of Transport, Egypt
- Maheswari Brothers Coal Limited - India
- Bhoruka Overseas - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- New Zealand Coal & Carbon
- GMR Energy Limited - India
- Sindya Power Generating Company Private Ltd
- TeaM Sual Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Altura Mining Limited, Indonesia
- Latin American Coal - Colombia
- Indian Oil Corporation Limited
- Electricity Generating Authority of Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Ambuja Cements Ltd - India
- Australian Commodity Traders Exchange
- Lanco Infratech Ltd - India
- Essar Steel Hazira Ltd - India
- Electricity Authority, New Zealand
- SMC Global Power, Philippines
- Bangladesh Power Developement Board
- Planning Commission, India
- Bulk Trading Sa - Switzerland
- Thai Mozambique Logistica
- LBH Netherlands Bv - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Larsen & Toubro Limited - India
- Aditya Birla Group - India
- International Coal Ventures Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Interocean Group of Companies - India
- SN Aboitiz Power Inc, Philippines
- MS Steel International - UAE
- Georgia Ports Authority, United States
- PTC India Limited - India
- Mjunction Services Limited - India
- CIMB Investment Bank - Malaysia
- San Jose City I Power Corp, Philippines
- Kumho Petrochemical, South Korea
- Eastern Energy - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Wilmar Investment Holdings
- Bahari Cakrawala Sebuku - Indonesia
- Indogreen Group - Indonesia
- Indo Tambangraya Megah - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Economic Council, Georgia
- Mintek Dendrill Indonesia
- London Commodity Brokers - England
- Sical Logistics Limited - India
- Marubeni Corporation - India
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