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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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Sunday, 10 September 23
CHINA AUGUST COAL IMPORTS OF 44.3 MLN T HIT RECORD - REUTERS
China, the world’s top coal consumer, imported 44.3 million metric tons of the fuel last month, customs data showed, the highest amount in an ...
Tuesday, 22 August 23
CHINA'S COAL PRODUCTION LOGS STEADY GROWTH IN JANUARY-JULY: XINHUA
China’s output of raw coal went up 3.6 percent year on year in the first seven months of this year, official data showed.
The ...
Sunday, 13 August 23
THE COMMODITIES FEED: LNG SUPPLY RISKS LINGER - ING
Energy – OPEC sees deficit over remainder of 2023
Oil prices came under some pressure yesterday with ICE Brent settling a litt ...
Wednesday, 09 August 23
COAL TRADE TO RETURN TO 2019 LEVELS - BALTIC EXCHANGE
The International Energy Agency’s mid-year Coal Market Update for 2023 brings both positive and concerning news for the global coal industry. ...
Sunday, 23 July 23
ANALYSIS-INDIA'S COAL MINING BET STUMBLES AS WARY BANKS WEIGH RISING RISKS - REUTERS
India’s drive to ramp up coal output to meet growing energy demand is faltering due to banks’ reluctance to finance newly auctioned min ...
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- McConnell Dowell - Australia
- Toyota Tsusho Corporation, Japan
- Neyveli Lignite Corporation Ltd, - India
- Ambuja Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- Gujarat Electricity Regulatory Commission - India
- MS Steel International - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Malabar Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- Semirara Mining Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Minerals Council of Australia
- Samtan Co., Ltd - South Korea
- Commonwealth Bank - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CIMB Investment Bank - Malaysia
- Rio Tinto Coal - Australia
- Wood Mackenzie - Singapore
- Australian Coal Association
- Bulk Trading Sa - Switzerland
- Ministry of Mines - Canada
- Binh Thuan Hamico - Vietnam
- PNOC Exploration Corporation - Philippines
- Mintek Dendrill Indonesia
- Banpu Public Company Limited - Thailand
- Manunggal Multi Energi - Indonesia
- Electricity Generating Authority of Thailand
- ASAPP Information Group - India
- PTC India Limited - India
- Africa Commodities Group - South Africa
- Timah Investasi Mineral - Indoneisa
- Bharathi Cement Corporation - India
- Sree Jayajothi Cements Limited - India
- Chettinad Cement Corporation Ltd - India
- Edison Trading Spa - Italy
- Salva Resources Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Latin American Coal - Colombia
- Altura Mining Limited, Indonesia
- Indogreen Group - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Vizag Seaport Private Limited - India
- Posco Energy - South Korea
- Baramulti Group, Indonesia
- Parliament of New Zealand
- Thiess Contractors Indonesia
- Simpson Spence & Young - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Indian Oil Corporation Limited
- Tamil Nadu electricity Board
- Thai Mozambique Logistica
- Australian Commodity Traders Exchange
- Antam Resourcindo - Indonesia
- Aboitiz Power Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kalimantan Lumbung Energi - Indonesia
- Makarim & Taira - Indonesia
- The University of Queensland
- Karaikal Port Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Therma Luzon, Inc, Philippines
- Georgia Ports Authority, United States
- Asmin Koalindo Tuhup - Indonesia
- GAC Shipping (India) Pvt Ltd
- Sinarmas Energy and Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parry Sugars Refinery, India
- White Energy Company Limited
- San Jose City I Power Corp, Philippines
- Essar Steel Hazira Ltd - India
- Bhoruka Overseas - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- PowerSource Philippines DevCo
- Electricity Authority, New Zealand
- Siam City Cement PLC, Thailand
- SMG Consultants - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Planning Commission, India
- Indonesian Coal Mining Association
- Oldendorff Carriers - Singapore
- Attock Cement Pakistan Limited
- Mjunction Services Limited - India
- Central Java Power - Indonesia
- Lanco Infratech Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Link Ltd, New Zealand
- Meenaskhi Energy Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- Standard Chartered Bank - UAE
- Kapuas Tunggal Persada - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- Agrawal Coal Company - India
- Metalloyd Limited - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Eastern Energy - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- ICICI Bank Limited - India
- London Commodity Brokers - England
- Siam City Cement - Thailand
- Central Electricity Authority - India
- Mercator Lines Limited - India
- AsiaOL BioFuels Corp., Philippines
- Videocon Industries ltd - India
- Energy Development Corp, Philippines
- Trasteel International SA, Italy
- Indian Energy Exchange, India
- Sical Logistics Limited - India
- Sojitz Corporation - Japan
- The Treasury - Australian Government
- Krishnapatnam Port Company Ltd. - India
- Riau Bara Harum - Indonesia
- TeaM Sual Corporation - Philippines
- GMR Energy Limited - India
- Vedanta Resources Plc - India
- Renaissance Capital - South Africa
- Kideco Jaya Agung - Indonesia
- Sindya Power Generating Company Private Ltd
- Romanian Commodities Exchange
- Orica Australia Pty. Ltd.
- Kobexindo Tractors - Indoneisa
- Independent Power Producers Association of India
- Larsen & Toubro Limited - India
- Chamber of Mines of South Africa
- Price Waterhouse Coopers - Russia
- GVK Power & Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- Coalindo Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Dalmia Cement Bharat India
- Pendopo Energi Batubara - Indonesia
- Cement Manufacturers Association - India
- Sakthi Sugars Limited - India
- IEA Clean Coal Centre - UK
- Carbofer General Trading SA - India
- Marubeni Corporation - India
- Bhushan Steel Limited - India
- Star Paper Mills Limited - India
- Kaltim Prima Coal - Indonesia
- Ministry of Finance - Indonesia
- Coal and Oil Company - UAE
- Indika Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Jaiprakash Power Ventures ltd
- Tata Chemicals Ltd - India
- LBH Netherlands Bv - Netherlands
- SMC Global Power, Philippines
- Aditya Birla Group - India
- Goldman Sachs - Singapore
- Singapore Mercantile Exchange
- Leighton Contractors Pty Ltd - Australia
- New Zealand Coal & Carbon
- Bangladesh Power Developement Board
- India Bulls Power Limited - India
- Eastern Coal Council - USA
- Ind-Barath Power Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhatia International Limited - India
- Grasim Industreis Ltd - India
- Formosa Plastics Group - Taiwan
- Kumho Petrochemical, South Korea
- Global Business Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Iligan Light & Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Wilmar Investment Holdings
- Coastal Gujarat Power Limited - India
- Xindia Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- European Bulk Services B.V. - Netherlands
- Bayan Resources Tbk. - Indonesia
- Merrill Lynch Commodities Europe
- Orica Mining Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercuria Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Economic Council, Georgia
- International Coal Ventures Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Heidelberg Cement - Germany
- Savvy Resources Ltd - HongKong
- Meralco Power Generation, Philippines
- CNBM International Corporation - China
- Cigading International Bulk Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Deloitte Consulting - India
- Ministry of Transport, Egypt
- Medco Energi Mining Internasional
- Bukit Baiduri Energy - Indonesia
- Borneo Indobara - Indonesia
- Anglo American - United Kingdom
- Interocean Group of Companies - India
- South Luzon Thermal Energy Corporation
- Jindal Steel & Power Ltd - India
- VISA Power Limited - India
- Bukit Makmur.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- The State Trading Corporation of India Ltd
- Port Waratah Coal Services - Australia
- Petron Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
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