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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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Tuesday, 20 December 16
TRADE HAS FELT ITS BUMPS AND SHAKES THIS YEAR - GEORGE LAZARIDIS
Trade has felt its bumps and shakes this year, as growing populist protectionist and nationalist movements in the Western world start to take hold. ...
Tuesday, 20 December 16
TURNAROUND IN CHINESE ECONOMY HAS INTENSIFIED RECENTLY, SAYS COMMODORE RESEARCH
According to the most recent Weekly China Report published by Commodore Research, it has remained encouraging that the turnaround in China’s ...
Monday, 19 December 16
U.S. WEEKLY COAL PRODUCTION DOWN 3.1% PERCENT WEEK ON WEEK
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.8 million short ton ...
Monday, 19 December 16
THE FREIGHT MARKET WAS CONTINUING TO SOFTEN
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities continually decline this past week and ending on a negati ...
Thursday, 15 December 16
SUPRAMAXES ARE ACHIEVING AROUND HIGH USD 7K FOR INDO/CHINA COAL ROUNDS - FEARNLEY
Supramax
Pacific has been relatively quiet this week, with some softening signs.
Supramaxes are achieving around high USD 7k for Indo/China ...
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- Ind-Barath Power Infra Limited - India
- Minerals Council of Australia
- Wilmar Investment Holdings
- Sindya Power Generating Company Private Ltd
- Indian Energy Exchange, India
- Altura Mining Limited, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Economic Council, Georgia
- PNOC Exploration Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Manunggal Multi Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Australian Commodity Traders Exchange
- GN Power Mariveles Coal Plant, Philippines
- Posco Energy - South Korea
- Coalindo Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Meralco Power Generation, Philippines
- Siam City Cement - Thailand
- Pendopo Energi Batubara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bayan Resources Tbk. - Indonesia
- Siam City Cement PLC, Thailand
- Straits Asia Resources Limited - Singapore
- Carbofer General Trading SA - India
- Holcim Trading Pte Ltd - Singapore
- Cigading International Bulk Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Commonwealth Bank - Australia
- Anglo American - United Kingdom
- GAC Shipping (India) Pvt Ltd
- The State Trading Corporation of India Ltd
- Global Coal Blending Company Limited - Australia
- Eastern Energy - Thailand
- Indika Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Oldendorff Carriers - Singapore
- SN Aboitiz Power Inc, Philippines
- Bhatia International Limited - India
- MS Steel International - UAE
- Sakthi Sugars Limited - India
- Karaikal Port Pvt Ltd - India
- Agrawal Coal Company - India
- CIMB Investment Bank - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Indian Oil Corporation Limited
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining Corp, Philippines
- India Bulls Power Limited - India
- Merrill Lynch Commodities Europe
- Grasim Industreis Ltd - India
- Bhoruka Overseas - Indonesia
- Goldman Sachs - Singapore
- Ceylon Electricity Board - Sri Lanka
- Bukit Makmur.PT - Indonesia
- Borneo Indobara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Barasentosa Lestari - Indonesia
- The Treasury - Australian Government
- Ministry of Finance - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Salva Resources Pvt Ltd - India
- Orica Australia Pty. Ltd.
- PTC India Limited - India
- Timah Investasi Mineral - Indoneisa
- Toyota Tsusho Corporation, Japan
- London Commodity Brokers - England
- CNBM International Corporation - China
- Madhucon Powers Ltd - India
- Indonesian Coal Mining Association
- Pipit Mutiara Jaya. PT, Indonesia
- Bangladesh Power Developement Board
- Krishnapatnam Port Company Ltd. - India
- Energy Link Ltd, New Zealand
- Gujarat Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Ministry of Mines - Canada
- Central Java Power - Indonesia
- Coal and Oil Company - UAE
- Parliament of New Zealand
- Sical Logistics Limited - India
- Power Finance Corporation Ltd., India
- Videocon Industries ltd - India
- Africa Commodities Group - South Africa
- Globalindo Alam Lestari - Indonesia
- Thai Mozambique Logistica
- Baramulti Group, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Standard Chartered Bank - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Vedanta Resources Plc - India
- White Energy Company Limited
- Gujarat Mineral Development Corp Ltd - India
- Iligan Light & Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Chamber of Mines of South Africa
- Romanian Commodities Exchange
- Jorong Barutama Greston.PT - Indonesia
- SMC Global Power, Philippines
- The University of Queensland
- New Zealand Coal & Carbon
- Mercuria Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Banpu Public Company Limited - Thailand
- Tata Chemicals Ltd - India
- South Luzon Thermal Energy Corporation
- Georgia Ports Authority, United States
- Mjunction Services Limited - India
- Wood Mackenzie - Singapore
- Kaltim Prima Coal - Indonesia
- Trasteel International SA, Italy
- ASAPP Information Group - India
- Latin American Coal - Colombia
- SMG Consultants - Indonesia
- Bulk Trading Sa - Switzerland
- Coastal Gujarat Power Limited - India
- Australian Coal Association
- Meenaskhi Energy Private Limited - India
- Binh Thuan Hamico - Vietnam
- Port Waratah Coal Services - Australia
- Bharathi Cement Corporation - India
- Gujarat Sidhee Cement - India
- Sarangani Energy Corporation, Philippines
- Parry Sugars Refinery, India
- Kartika Selabumi Mining - Indonesia
- Riau Bara Harum - Indonesia
- International Coal Ventures Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Bukit Asam (Persero) Tbk - Indonesia
- Marubeni Corporation - India
- Ministry of Transport, Egypt
- Petrochimia International Co. Ltd.- Taiwan
- Aditya Birla Group - India
- Petron Corporation, Philippines
- GMR Energy Limited - India
- Larsen & Toubro Limited - India
- Malabar Cements Ltd - India
- Heidelberg Cement - Germany
- Edison Trading Spa - Italy
- Orica Mining Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Essar Steel Hazira Ltd - India
- Energy Development Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Independent Power Producers Association of India
- Central Electricity Authority - India
- Medco Energi Mining Internasional
- Eastern Coal Council - USA
- Mercator Lines Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Renaissance Capital - South Africa
- Jaiprakash Power Ventures ltd
- Global Green Power PLC Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aboitiz Power Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Intertek Mineral Services - Indonesia
- San Jose City I Power Corp, Philippines
- Maheswari Brothers Coal Limited - India
- OPG Power Generation Pvt Ltd - India
- Bhushan Steel Limited - India
- PowerSource Philippines DevCo
- Vizag Seaport Private Limited - India
- Dalmia Cement Bharat India
- Makarim & Taira - Indonesia
- Savvy Resources Ltd - HongKong
- Ambuja Cements Ltd - India
- Sojitz Corporation - Japan
- Price Waterhouse Coopers - Russia
- VISA Power Limited - India
- Tamil Nadu electricity Board
- Billiton Holdings Pty Ltd - Australia
- McConnell Dowell - Australia
- Mintek Dendrill Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Miang Besar Coal Terminal - Indonesia
- Singapore Mercantile Exchange
- Electricity Authority, New Zealand
- Attock Cement Pakistan Limited
- Kumho Petrochemical, South Korea
- Kideco Jaya Agung - Indonesia
- Indo Tambangraya Megah - Indonesia
- Planning Commission, India
- IEA Clean Coal Centre - UK
- Jindal Steel & Power Ltd - India
- Bukit Baiduri Energy - Indonesia
- Rio Tinto Coal - Australia
- Lanco Infratech Ltd - India
- Xindia Steels Limited - India
- Star Paper Mills Limited - India
- Interocean Group of Companies - India
- AsiaOL BioFuels Corp., Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Indogreen Group - Indonesia
- Deloitte Consulting - India
- ICICI Bank Limited - India
- Global Business Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- GVK Power & Infra Limited - India
- TeaM Sual Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Cement Manufacturers Association - India
- Thiess Contractors Indonesia
- Simpson Spence & Young - Indonesia
- Uttam Galva Steels Limited - India
- Sree Jayajothi Cements Limited - India
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