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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, 12 December 16
INDONESIA TO INDIA FREIGHT RATES ARE EXPECTED TO BE SOFT THIS WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities decline this past week and ending on a negative note week ...
Thursday, 08 December 16
STABLE OUTLOOK FOR GLOBAL MINING IN 2017 : FITCH
Fitch Ratings' sector and rating outlooks for the global mining industry in 2017 are both stable, reflecting Fitch's view that prices have ...
Thursday, 08 December 16
CHINESE COAL DEMAND WOULD BE THE KEY FACTOR THAT INFLUENCE WORLD COAL PRICES IN 2017, POLL
“WHAT ARE THE KEY FACTORS THAT MAY INFLUENCE WORLD'S COAL PRICES IN 2017?”
The on-line opinion poll conducted by COALspot.com ...
Thursday, 08 December 16
PANAMAX: THE FIRM TENDENCY CONTINUES IN BOTH HEMISPHERES - FEARNLEY
Supramax
Market remained firm - true mostly within Atlantic.
Star performer USG remained its title, where Supras reached around USD 21k ...
Wednesday, 07 December 16
SHIPPING MARKET INSIGHT - THEODOROS NTALAKOS
Looking back at my previous end-of-year insights, for the last seven years, in each and every one of them, I begin with something like “there ...
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- Bukit Makmur.PT - Indonesia
- Makarim & Taira - Indonesia
- Petron Corporation, Philippines
- Tata Chemicals Ltd - India
- IHS Mccloskey Coal Group - USA
- Wood Mackenzie - Singapore
- Ministry of Transport, Egypt
- Kartika Selabumi Mining - Indonesia
- Port Waratah Coal Services - Australia
- SMG Consultants - Indonesia
- Orica Australia Pty. Ltd.
- Parliament of New Zealand
- Indogreen Group - Indonesia
- Attock Cement Pakistan Limited
- Mercuria Energy - Indonesia
- Orica Mining Services - Indonesia
- Posco Energy - South Korea
- SMC Global Power, Philippines
- Straits Asia Resources Limited - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Iligan Light & Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PTC India Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Gujarat Sidhee Cement - India
- Eastern Energy - Thailand
- Heidelberg Cement - Germany
- Sarangani Energy Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Indika Energy - Indonesia
- Energy Development Corp, Philippines
- ASAPP Information Group - India
- Bayan Resources Tbk. - Indonesia
- GVK Power & Infra Limited - India
- Vedanta Resources Plc - India
- Economic Council, Georgia
- Coalindo Energy - Indonesia
- Medco Energi Mining Internasional
- Edison Trading Spa - Italy
- Kumho Petrochemical, South Korea
- Aboitiz Power Corporation - Philippines
- Thiess Contractors Indonesia
- Gujarat Mineral Development Corp Ltd - India
- PowerSource Philippines DevCo
- Jindal Steel & Power Ltd - India
- Price Waterhouse Coopers - Russia
- Minerals Council of Australia
- Indian Energy Exchange, India
- CIMB Investment Bank - Malaysia
- Banpu Public Company Limited - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Sree Jayajothi Cements Limited - India
- Kideco Jaya Agung - Indonesia
- Coastal Gujarat Power Limited - India
- Interocean Group of Companies - India
- Savvy Resources Ltd - HongKong
- Miang Besar Coal Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- Intertek Mineral Services - Indonesia
- Thai Mozambique Logistica
- Toyota Tsusho Corporation, Japan
- Central Java Power - Indonesia
- OPG Power Generation Pvt Ltd - India
- Mjunction Services Limited - India
- VISA Power Limited - India
- Meralco Power Generation, Philippines
- Parry Sugars Refinery, India
- Videocon Industries ltd - India
- Samtan Co., Ltd - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Altura Mining Limited, Indonesia
- Goldman Sachs - Singapore
- Xindia Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Barasentosa Lestari - Indonesia
- Coal and Oil Company - UAE
- International Coal Ventures Pvt Ltd - India
- London Commodity Brokers - England
- South Luzon Thermal Energy Corporation
- Meenaskhi Energy Private Limited - India
- Karaikal Port Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Georgia Ports Authority, United States
- Mintek Dendrill Indonesia
- Semirara Mining Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Sindya Power Generating Company Private Ltd
- SN Aboitiz Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- LBH Netherlands Bv - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Kaltim Prima Coal - Indonesia
- Siam City Cement - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- India Bulls Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bank of Tokyo Mitsubishi UFJ Ltd
- AsiaOL BioFuels Corp., Philippines
- Romanian Commodities Exchange
- Electricity Authority, New Zealand
- Sinarmas Energy and Mining - Indonesia
- Trasteel International SA, Italy
- Essar Steel Hazira Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Indian Oil Corporation Limited
- Uttam Galva Steels Limited - India
- Wilmar Investment Holdings
- White Energy Company Limited
- Gujarat Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Latin American Coal - Colombia
- Mercator Lines Limited - India
- Central Electricity Authority - India
- Indo Tambangraya Megah - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Power Finance Corporation Ltd., India
- Chamber of Mines of South Africa
- Anglo American - United Kingdom
- Bulk Trading Sa - Switzerland
- Bhoruka Overseas - Indonesia
- Oldendorff Carriers - Singapore
- Cement Manufacturers Association - India
- European Bulk Services B.V. - Netherlands
- MS Steel International - UAE
- Deloitte Consulting - India
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Antam Resourcindo - Indonesia
- Sical Logistics Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- IEA Clean Coal Centre - UK
- Aditya Birla Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Global Coal Blending Company Limited - Australia
- Borneo Indobara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Vizag Seaport Private Limited - India
- Pendopo Energi Batubara - Indonesia
- Electricity Generating Authority of Thailand
- Agrawal Coal Company - India
- Independent Power Producers Association of India
- Marubeni Corporation - India
- Madhucon Powers Ltd - India
- Grasim Industreis Ltd - India
- Ministry of Finance - Indonesia
- Carbofer General Trading SA - India
- The Treasury - Australian Government
- San Jose City I Power Corp, Philippines
- Bhatia International Limited - India
- Ind-Barath Power Infra Limited - India
- Merrill Lynch Commodities Europe
- Star Paper Mills Limited - India
- Commonwealth Bank - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- Ministry of Mines - Canada
- The State Trading Corporation of India Ltd
- Malabar Cements Ltd - India
- Dalmia Cement Bharat India
- Tamil Nadu electricity Board
- Bukit Baiduri Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Leighton Contractors Pty Ltd - Australia
- ICICI Bank Limited - India
- Therma Luzon, Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- The University of Queensland
- Alfred C Toepfer International GmbH - Germany
- Sojitz Corporation - Japan
- GMR Energy Limited - India
- Simpson Spence & Young - Indonesia
- Global Business Power Corporation, Philippines
- Baramulti Group, Indonesia
- TeaM Sual Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Standard Chartered Bank - UAE
- Ceylon Electricity Board - Sri Lanka
- Rio Tinto Coal - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Coal Council - USA
- CNBM International Corporation - China
- Larsen & Toubro Limited - India
- Bhushan Steel Limited - India
- Australian Coal Association
- Energy Link Ltd, New Zealand
- Binh Thuan Hamico - Vietnam
- Directorate Of Revenue Intelligence - India
- McConnell Dowell - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- New Zealand Coal & Carbon
- Renaissance Capital - South Africa
- Timah Investasi Mineral - Indoneisa
- Metalloyd Limited - United Kingdom
- Riau Bara Harum - Indonesia
- Lanco Infratech Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Planning Commission, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Singapore Mercantile Exchange
- Manunggal Multi Energi - Indonesia
- Sakthi Sugars Limited - India
- Kapuas Tunggal Persada - Indonesia
- Bharathi Cement Corporation - India
- Indonesian Coal Mining Association
- Krishnapatnam Port Company Ltd. - India
- PNOC Exploration Corporation - Philippines
- Ambuja Cements Ltd - India
- Australian Commodity Traders Exchange
- Salva Resources Pvt Ltd - India
- Bangladesh Power Developement Board
- Kepco SPC Power Corporation, Philippines
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