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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, 26 December 16
DO THE DERIVATIVES MARKETS MAKE COAL PRICES MORE VOLATILE? 59.21% SAY YES, POLL
COALspot.com: The substantial increase or decrease in coal prices within a short period of time has been supported by a number of fundamental drive ...
Friday, 23 December 16
U.S. YEAR-TO-DATE COAL PRODUCTION TOTALED 711.1 MMST; DOWN 18.5% Y/Y - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.7 million short ton ...
Thursday, 22 December 16
INDONESIA LACK OF EXPORT TO INDIA THIS WEEK - FERNLEYS
Supramax
While the Atlantic is keeping up with rates, the Pacific has been weaker says Astrup Fernley.
According to Astrup Fernley, backhaul ...
Wednesday, 21 December 16
THE SUPREME COURT DECISION IN OW BUNKERS - WHEN A SALE OF GOODS IS NOT A SALE OF GOODS - LEON ALEXANDER, CLYDE&CO
KNOWLEDGE TO ELEVATE
In May 2016 the Supreme Court of England & Wales gave judgment in an OW Bunkers test case entitled "Res Cogitans ...
Wednesday, 21 December 16
CLEANING THE OCEANS FROM PLASTIC - SOPHIE COTZIAS
2016 is coming to a close and it finds us in preparation for the 2017 enforcement of the Ballast Water Treatment Systems. We naturally are in thoug ...
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- Energy Development Corp, Philippines
- Intertek Mineral Services - Indonesia
- Georgia Ports Authority, United States
- Kartika Selabumi Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- IEA Clean Coal Centre - UK
- Straits Asia Resources Limited - Singapore
- European Bulk Services B.V. - Netherlands
- Bangladesh Power Developement Board
- Indonesian Coal Mining Association
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bharathi Cement Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Mintek Dendrill Indonesia
- Vedanta Resources Plc - India
- Pendopo Energi Batubara - Indonesia
- Directorate Of Revenue Intelligence - India
- Chettinad Cement Corporation Ltd - India
- Sical Logistics Limited - India
- Agrawal Coal Company - India
- Petrochimia International Co. Ltd.- Taiwan
- Salva Resources Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- South Luzon Thermal Energy Corporation
- Indo Tambangraya Megah - Indonesia
- Grasim Industreis Ltd - India
- Coalindo Energy - Indonesia
- PowerSource Philippines DevCo
- Bayan Resources Tbk. - Indonesia
- Thai Mozambique Logistica
- Coastal Gujarat Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- Bulk Trading Sa - Switzerland
- PetroVietnam Power Coal Import and Supply Company
- Kobexindo Tractors - Indoneisa
- Wood Mackenzie - Singapore
- Madhucon Powers Ltd - India
- Vizag Seaport Private Limited - India
- Aditya Birla Group - India
- Dalmia Cement Bharat India
- Neyveli Lignite Corporation Ltd, - India
- ASAPP Information Group - India
- Vijayanagar Sugar Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Marubeni Corporation - India
- Ministry of Mines - Canada
- International Coal Ventures Pvt Ltd - India
- Baramulti Group, Indonesia
- Larsen & Toubro Limited - India
- Orica Mining Services - Indonesia
- Savvy Resources Ltd - HongKong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ambuja Cements Ltd - India
- London Commodity Brokers - England
- Edison Trading Spa - Italy
- Mercuria Energy - Indonesia
- Electricity Generating Authority of Thailand
- Krishnapatnam Port Company Ltd. - India
- Meralco Power Generation, Philippines
- Altura Mining Limited, Indonesia
- Indika Energy - Indonesia
- Planning Commission, India
- Karbindo Abesyapradhi - Indoneisa
- Eastern Coal Council - USA
- Formosa Plastics Group - Taiwan
- Independent Power Producers Association of India
- Cigading International Bulk Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- PTC India Limited - India
- CIMB Investment Bank - Malaysia
- The University of Queensland
- Bhatia International Limited - India
- Sojitz Corporation - Japan
- Sarangani Energy Corporation, Philippines
- Coal and Oil Company - UAE
- Maheswari Brothers Coal Limited - India
- Sinarmas Energy and Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- White Energy Company Limited
- TNB Fuel Sdn Bhd - Malaysia
- Holcim Trading Pte Ltd - Singapore
- VISA Power Limited - India
- IHS Mccloskey Coal Group - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Singapore Mercantile Exchange
- Power Finance Corporation Ltd., India
- Carbofer General Trading SA - India
- Therma Luzon, Inc, Philippines
- Romanian Commodities Exchange
- Oldendorff Carriers - Singapore
- Interocean Group of Companies - India
- The Treasury - Australian Government
- Lanco Infratech Ltd - India
- Kepco SPC Power Corporation, Philippines
- Latin American Coal - Colombia
- New Zealand Coal & Carbon
- Orica Australia Pty. Ltd.
- Uttam Galva Steels Limited - India
- Kaltim Prima Coal - Indonesia
- GVK Power & Infra Limited - India
- Riau Bara Harum - Indonesia
- Essar Steel Hazira Ltd - India
- Karaikal Port Pvt Ltd - India
- Wilmar Investment Holdings
- Chamber of Mines of South Africa
- Australian Commodity Traders Exchange
- San Jose City I Power Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Ind-Barath Power Infra Limited - India
- Merrill Lynch Commodities Europe
- Semirara Mining Corp, Philippines
- Tata Chemicals Ltd - India
- Sakthi Sugars Limited - India
- Binh Thuan Hamico - Vietnam
- Deloitte Consulting - India
- Malabar Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhoruka Overseas - Indonesia
- Timah Investasi Mineral - Indoneisa
- Borneo Indobara - Indonesia
- Goldman Sachs - Singapore
- Mercator Lines Limited - India
- Commonwealth Bank - Australia
- Gujarat Sidhee Cement - India
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Energy - Thailand
- Metalloyd Limited - United Kingdom
- ICICI Bank Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Petron Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- India Bulls Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Java Power - Indonesia
- Minerals Council of Australia
- Global Green Power PLC Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Ceylon Electricity Board - Sri Lanka
- Anglo American - United Kingdom
- GAC Shipping (India) Pvt Ltd
- Port Waratah Coal Services - Australia
- CNBM International Corporation - China
- Ministry of Transport, Egypt
- Antam Resourcindo - Indonesia
- Electricity Authority, New Zealand
- MS Steel International - UAE
- Mjunction Services Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Electricity Authority - India
- Bukit Makmur.PT - Indonesia
- Africa Commodities Group - South Africa
- Parliament of New Zealand
- Cement Manufacturers Association - India
- Energy Link Ltd, New Zealand
- Indogreen Group - Indonesia
- Standard Chartered Bank - UAE
- Jaiprakash Power Ventures ltd
- Heidelberg Cement - Germany
- McConnell Dowell - Australia
- Gujarat Mineral Development Corp Ltd - India
- Barasentosa Lestari - Indonesia
- Attock Cement Pakistan Limited
- Trasteel International SA, Italy
- Directorate General of MIneral and Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Jindal Steel & Power Ltd - India
- Sindya Power Generating Company Private Ltd
- Bukit Baiduri Energy - Indonesia
- Economic Council, Georgia
- Renaissance Capital - South Africa
- Xindia Steels Limited - India
- GMR Energy Limited - India
- LBH Netherlands Bv - Netherlands
- Simpson Spence & Young - Indonesia
- Australian Coal Association
- Thiess Contractors Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Rio Tinto Coal - Australia
- Tamil Nadu electricity Board
- Star Paper Mills Limited - India
- Globalindo Alam Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement - Thailand
- Sree Jayajothi Cements Limited - India
- TeaM Sual Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- Ministry of Finance - Indonesia
- The State Trading Corporation of India Ltd
- Videocon Industries ltd - India
- Medco Energi Mining Internasional
- Bhushan Steel Limited - India
- Kumho Petrochemical, South Korea
- Makarim & Taira - Indonesia
- Parry Sugars Refinery, India
- Alfred C Toepfer International GmbH - Germany
- Banpu Public Company Limited - Thailand
- Posco Energy - South Korea
- SMC Global Power, Philippines
- PNOC Exploration Corporation - Philippines
- Siam City Cement PLC, Thailand
- Indian Energy Exchange, India
- Bukit Asam (Persero) Tbk - Indonesia
- SMG Consultants - Indonesia
- Kalimantan Lumbung Energi - Indonesia
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