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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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Thursday, 09 November 23
GREEK AND CHINESE COMPANIES OWN 34% OF THE GLOBAL FLEET’S CARGO CAPACITY - BIMCO
“The global fleet of cargo carrying ships consists of around 61,000 ships with a deadweight capacity of about 2,200 million tonnes. The ships ...
Monday, 23 October 23
CHINA SEPT COAL OUTPUT HITS SIX-MONTH HIGH ON RISING POWER DEMAND - REUTERS
China’s September coal output rose 0.4% from August to the highest level since March, official data showed on Wednesday, on rising power dema ...
Monday, 23 October 23
INDIA COAL INVENTORIES DROP AT FASTEST PACE IN TWO YEARS, BOOSTING IMPORTS - REUTERS
Coal inventories at Indian power plants in the first half of October fell at their fastest rate in two years, an analysis of government data showed ...
Tuesday, 19 September 23
LNG SHIPPING STOCKS: THE ASIAN GROWTH UP-INDICES
Last week, the UP World LNG Shipping Index (UPI) gained 3.81 points or 2.51%, closing at 155.85 points. This index tracks the performance of LNG sh ...
Sunday, 10 September 23
GOLDMAN SACHS PREDICTS OIL PRICE TO HIT $100 ON OPEC CUTS - YAHOO FINANCE
Oil supply cuts by Saudi Arabia and Russia could lead to Brent crude jumping as high as $107 a barrel in 2024, Goldman Sachs Commodities Research h ...
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- Kideco Jaya Agung - Indonesia
- Barasentosa Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Attock Cement Pakistan Limited
- Coastal Gujarat Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Petron Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Minerals Council of Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Oil Corporation Limited
- AsiaOL BioFuels Corp., Philippines
- Grasim Industreis Ltd - India
- Tamil Nadu electricity Board
- LBH Netherlands Bv - Netherlands
- India Bulls Power Limited - India
- Bhoruka Overseas - Indonesia
- Anglo American - United Kingdom
- Salva Resources Pvt Ltd - India
- Indika Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Eastern Energy - Thailand
- Deloitte Consulting - India
- Aditya Birla Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement PLC, Thailand
- Directorate General of MIneral and Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- ICICI Bank Limited - India
- Coalindo Energy - Indonesia
- GMR Energy Limited - India
- Sojitz Corporation - Japan
- Global Coal Blending Company Limited - Australia
- GAC Shipping (India) Pvt Ltd
- International Coal Ventures Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Marubeni Corporation - India
- Straits Asia Resources Limited - Singapore
- TeaM Sual Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Electricity Generating Authority of Thailand
- Altura Mining Limited, Indonesia
- Rio Tinto Coal - Australia
- Vedanta Resources Plc - India
- Jindal Steel & Power Ltd - India
- Savvy Resources Ltd - HongKong
- Thiess Contractors Indonesia
- IEA Clean Coal Centre - UK
- The Treasury - Australian Government
- Binh Thuan Hamico - Vietnam
- Videocon Industries ltd - India
- Planning Commission, India
- Billiton Holdings Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- Uttam Galva Steels Limited - India
- Ministry of Mines - Canada
- CNBM International Corporation - China
- Jaiprakash Power Ventures ltd
- Malabar Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Carbofer General Trading SA - India
- Mjunction Services Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- The University of Queensland
- Holcim Trading Pte Ltd - Singapore
- Parliament of New Zealand
- Merrill Lynch Commodities Europe
- Semirara Mining and Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Globalindo Alam Lestari - Indonesia
- Renaissance Capital - South Africa
- Mintek Dendrill Indonesia
- Economic Council, Georgia
- Cement Manufacturers Association - India
- PTC India Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Tata Chemicals Ltd - India
- Commonwealth Bank - Australia
- Baramulti Group, Indonesia
- Aboitiz Power Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Singapore Mercantile Exchange
- Larsen & Toubro Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Kobexindo Tractors - Indoneisa
- Vizag Seaport Private Limited - India
- Edison Trading Spa - Italy
- Standard Chartered Bank - UAE
- Madhucon Powers Ltd - India
- SMC Global Power, Philippines
- SMG Consultants - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Australian Coal Association
- Indonesian Coal Mining Association
- Trasteel International SA, Italy
- Samtan Co., Ltd - South Korea
- Goldman Sachs - Singapore
- CIMB Investment Bank - Malaysia
- McConnell Dowell - Australia
- Semirara Mining Corp, Philippines
- White Energy Company Limited
- Toyota Tsusho Corporation, Japan
- Agrawal Coal Company - India
- Latin American Coal - Colombia
- Maheswari Brothers Coal Limited - India
- Siam City Cement - Thailand
- Medco Energi Mining Internasional
- Global Green Power PLC Corporation, Philippines
- Posco Energy - South Korea
- Ind-Barath Power Infra Limited - India
- Indian Energy Exchange, India
- Ministry of Transport, Egypt
- ASAPP Information Group - India
- Manunggal Multi Energi - Indonesia
- Makarim & Taira - Indonesia
- Bangladesh Power Developement Board
- Wood Mackenzie - Singapore
- Dalmia Cement Bharat India
- New Zealand Coal & Carbon
- Sakthi Sugars Limited - India
- PowerSource Philippines DevCo
- Sarangani Energy Corporation, Philippines
- Lanco Infratech Ltd - India
- Romanian Commodities Exchange
- Krishnapatnam Port Company Ltd. - India
- Pendopo Energi Batubara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- European Bulk Services B.V. - Netherlands
- VISA Power Limited - India
- Australian Commodity Traders Exchange
- San Jose City I Power Corp, Philippines
- Riau Bara Harum - Indonesia
- Georgia Ports Authority, United States
- Bharathi Cement Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Antam Resourcindo - Indonesia
- Sical Logistics Limited - India
- Parry Sugars Refinery, India
- Banpu Public Company Limited - Thailand
- Borneo Indobara - Indonesia
- Formosa Plastics Group - Taiwan
- Simpson Spence & Young - Indonesia
- Star Paper Mills Limited - India
- Price Waterhouse Coopers - Russia
- Karbindo Abesyapradhi - Indoneisa
- Eastern Coal Council - USA
- Oldendorff Carriers - Singapore
- Mercator Lines Limited - India
- Iligan Light & Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wilmar Investment Holdings
- Karaikal Port Pvt Ltd - India
- Central Java Power - Indonesia
- Coal and Oil Company - UAE
- Ministry of Finance - Indonesia
- Kepco SPC Power Corporation, Philippines
- Chamber of Mines of South Africa
- Heidelberg Cement - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Orica Australia Pty. Ltd.
- Thai Mozambique Logistica
- Interocean Group of Companies - India
- Bulk Trading Sa - Switzerland
- London Commodity Brokers - England
- Ambuja Cements Ltd - India
- Bhatia International Limited - India
- Directorate Of Revenue Intelligence - India
- Sindya Power Generating Company Private Ltd
- Kumho Petrochemical, South Korea
- Essar Steel Hazira Ltd - India
- Central Electricity Authority - India
- Gujarat Mineral Development Corp Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Sree Jayajothi Cements Limited - India
- Electricity Authority, New Zealand
- Indogreen Group - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Global Business Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- MS Steel International - UAE
- Miang Besar Coal Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- Meralco Power Generation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Energy Development Corp, Philippines
- Therma Luzon, Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Metalloyd Limited - United Kingdom
- South Luzon Thermal Energy Corporation
- Independent Power Producers Association of India
- SN Aboitiz Power Inc, Philippines
- Xindia Steels Limited - India
- Intertek Mineral Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- The State Trading Corporation of India Ltd
- Orica Mining Services - Indonesia
- Power Finance Corporation Ltd., India
- Ceylon Electricity Board - Sri Lanka
- Africa Commodities Group - South Africa
- Gujarat Sidhee Cement - India
- Bhushan Steel Limited - India
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