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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, 22 November 23
INDIA: GOVERNMENT PLANS 1.4 BILLION TONNE COAL OUTPUT BY 2027 - LIVEMINT
The Union coal ministry on Monday announced plans to increase India’s coal production to 1.404 billion tonne by 2027, with an eye to further ...
Wednesday, 22 November 23
OBLIGATION. INDONESIA AIMS TO START COLLECTING LEVIES FROM COAL MINERS IN JANUARY - REUTERS
Indonesia plans to start collecting levies from coal miners in January to be used to compensate miners who sell coal to the state utility at lower ...
Tuesday, 21 November 23
INDIAN COAL POWER PLANTS’ CAPACITY UTILISATION WILL IMPROVE TO 65% THIS FISCAL: - CRISIL
Coal-based thermal power units’ plant load factor (PLF) or capacity utilisation will improve to 65 percent in the current fiscal year despite ...
Tuesday, 14 November 23
CAPITAL PRODUCT PARTNERS L.P. ANNOUNCES TRANSFORMATIVE TRANSACTION INCLUDING THE ACQUISITION OF 11 NEWBUILD LNG CARRIERS FOR $3.1 BILLION
Capital Product Partners L.P. announced that it has entered into an umbrella agreement (the “Umbrella Agreement”) with Capital Maritime ...
Tuesday, 14 November 23
COAL INDIA BEATS Q2 PROFIT VIEW ON HIGH POWER DEMAND AMID WEAK MONSOON - REUTERS
Coal India on Friday reported better-than-expected second-quarter profit, helped by high power demand and boosted production amid a weak monsoon.
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- The University of Queensland
- Coal and Oil Company - UAE
- Alfred C Toepfer International GmbH - Germany
- Economic Council, Georgia
- Meralco Power Generation, Philippines
- Energy Development Corp, Philippines
- The Treasury - Australian Government
- Edison Trading Spa - Italy
- Ministry of Finance - Indonesia
- Tata Chemicals Ltd - India
- Mercuria Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- ICICI Bank Limited - India
- Global Green Power PLC Corporation, Philippines
- Altura Mining Limited, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Star Paper Mills Limited - India
- Makarim & Taira - Indonesia
- Electricity Generating Authority of Thailand
- Jindal Steel & Power Ltd - India
- Independent Power Producers Association of India
- Cement Manufacturers Association - India
- GVK Power & Infra Limited - India
- Wood Mackenzie - Singapore
- Port Waratah Coal Services - Australia
- Siam City Cement PLC, Thailand
- Mintek Dendrill Indonesia
- Maheswari Brothers Coal Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Larsen & Toubro Limited - India
- Kumho Petrochemical, South Korea
- GMR Energy Limited - India
- CIMB Investment Bank - Malaysia
- Sical Logistics Limited - India
- Posco Energy - South Korea
- Electricity Authority, New Zealand
- CNBM International Corporation - China
- Bhatia International Limited - India
- Eastern Energy - Thailand
- Indo Tambangraya Megah - Indonesia
- Meenaskhi Energy Private Limited - India
- Anglo American - United Kingdom
- Standard Chartered Bank - UAE
- Bukit Makmur.PT - Indonesia
- Ambuja Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aditya Birla Group - India
- Directorate Of Revenue Intelligence - India
- Kepco SPC Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Toyota Tsusho Corporation, Japan
- London Commodity Brokers - England
- Krishnapatnam Port Company Ltd. - India
- PNOC Exploration Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Timah Investasi Mineral - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Singapore Mercantile Exchange
- Ministry of Mines - Canada
- Kartika Selabumi Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Sojitz Corporation - Japan
- Trasteel International SA, Italy
- Kideco Jaya Agung - Indonesia
- White Energy Company Limited
- Medco Energi Mining Internasional
- Indika Energy - Indonesia
- Madhucon Powers Ltd - India
- Xindia Steels Limited - India
- Gujarat Sidhee Cement - India
- PTC India Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Essar Steel Hazira Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Bangladesh Power Developement Board
- Energy Link Ltd, New Zealand
- Vedanta Resources Plc - India
- Mercator Lines Limited - India
- SMG Consultants - Indonesia
- SN Aboitiz Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- The State Trading Corporation of India Ltd
- Savvy Resources Ltd - HongKong
- Central Electricity Authority - India
- Rio Tinto Coal - Australia
- Antam Resourcindo - Indonesia
- Australian Coal Association
- Indogreen Group - Indonesia
- Indonesian Coal Mining Association
- Georgia Ports Authority, United States
- Petrochimia International Co. Ltd.- Taiwan
- Rashtriya Ispat Nigam Limited - India
- OPG Power Generation Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Global Business Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- MS Steel International - UAE
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Borneo Indobara - Indonesia
- Africa Commodities Group - South Africa
- GAC Shipping (India) Pvt Ltd
- Indian Oil Corporation Limited
- Deloitte Consulting - India
- SMC Global Power, Philippines
- Gujarat Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Grasim Industreis Ltd - India
- Mjunction Services Limited - India
- Eastern Coal Council - USA
- Lanco Infratech Ltd - India
- VISA Power Limited - India
- Romanian Commodities Exchange
- Dalmia Cement Bharat India
- Kapuas Tunggal Persada - Indonesia
- Bukit Baiduri Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IEA Clean Coal Centre - UK
- Petron Corporation, Philippines
- Ministry of Transport, Egypt
- Neyveli Lignite Corporation Ltd, - India
- Parliament of New Zealand
- Iligan Light & Power Inc, Philippines
- Renaissance Capital - South Africa
- Power Finance Corporation Ltd., India
- Baramulti Group, Indonesia
- Marubeni Corporation - India
- Bhushan Steel Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Riau Bara Harum - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- New Zealand Coal & Carbon
- Interocean Group of Companies - India
- Siam City Cement - Thailand
- TeaM Sual Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Price Waterhouse Coopers - Russia
- Carbofer General Trading SA - India
- Jaiprakash Power Ventures ltd
- Jorong Barutama Greston.PT - Indonesia
- McConnell Dowell - Australia
- Holcim Trading Pte Ltd - Singapore
- Chamber of Mines of South Africa
- Barasentosa Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Intertek Mineral Services - Indonesia
- Tamil Nadu electricity Board
- GN Power Mariveles Coal Plant, Philippines
- Global Coal Blending Company Limited - Australia
- Semirara Mining Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Karaikal Port Pvt Ltd - India
- Minerals Council of Australia
- Pipit Mutiara Jaya. PT, Indonesia
- International Coal Ventures Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Attock Cement Pakistan Limited
- Oldendorff Carriers - Singapore
- Thai Mozambique Logistica
- Bayan Resources Tbk. - Indonesia
- Formosa Plastics Group - Taiwan
- Gujarat Mineral Development Corp Ltd - India
- Australian Commodity Traders Exchange
- Central Java Power - Indonesia
- South Luzon Thermal Energy Corporation
- Commonwealth Bank - Australia
- Therma Luzon, Inc, Philippines
- Metalloyd Limited - United Kingdom
- Indian Energy Exchange, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wilmar Investment Holdings
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Mining Services - Indonesia
- LBH Netherlands Bv - Netherlands
- IHS Mccloskey Coal Group - USA
- Aboitiz Power Corporation - Philippines
- ASAPP Information Group - India
- Ceylon Electricity Board - Sri Lanka
- Thiess Contractors Indonesia
- Kobexindo Tractors - Indoneisa
- Sindya Power Generating Company Private Ltd
- Bulk Trading Sa - Switzerland
- Vijayanagar Sugar Pvt Ltd - India
- Latin American Coal - Colombia
- Orica Australia Pty. Ltd.
- PetroVietnam Power Coal Import and Supply Company
- Miang Besar Coal Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- Planning Commission, India
- Manunggal Multi Energi - Indonesia
- Agrawal Coal Company - India
- Videocon Industries ltd - India
- Sakthi Sugars Limited - India
- Banpu Public Company Limited - Thailand
- Leighton Contractors Pty Ltd - Australia
- Heidelberg Cement - Germany
- Kalimantan Lumbung Energi - Indonesia
- Uttam Galva Steels Limited - India
- PowerSource Philippines DevCo
- Parry Sugars Refinery, India
- San Jose City I Power Corp, Philippines
- Malabar Cements Ltd - India
- Coalindo Energy - Indonesia
- Goldman Sachs - Singapore
- India Bulls Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Merrill Lynch Commodities Europe
- Vizag Seaport Private Limited - India
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