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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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Wednesday, 07 December 16
U.S. COAL PRODUCTION IS FORECAST TO INCREASE BY 2% IN 2017 - EIA
U.S. Coal production in November 2016 was 70.7 million short tons (MMst), the third time this year monthly production exceeded 70 MMst, says EIA.
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Wednesday, 07 December 16
IT'S BEEN YET ANOTHER TURBULENT COUPLE OF DAYS..... - GEORGE LAZARIDIS
It’s been yet another turbulent couple of days, with a significant number of news headlines shaking up markets.
On Friday we had & ...
Monday, 05 December 16
INDIAN HYDROPOWER PRODUCTION AT LOWEST LEVEL SINCE 2012, SAYS COMMODORE RESEARCH
According to Commodore Research, the first eleven months of this year have seen India’s overall electricity production total approximately 1. ...
Monday, 05 December 16
THE DECEMBER 2016 HBA HITS TO ITS HIGHEST LEVEL SINCE MAY 2012
COALspot.com: The Indonesia coal benchmark price hits to its highest level since May 2012. The government declared benchmark prices for Indo ...
Monday, 05 December 16
BALTIC PANAMAX INDEX UP 5.98%; BALTIC CAPE INDEX FELL 2.52% W/W
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rally slightly continues this past week and ending on a s ...
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- Sical Logistics Limited - India
- Xindia Steels Limited - India
- Larsen & Toubro Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Meenaskhi Energy Private Limited - India
- Vedanta Resources Plc - India
- Jindal Steel & Power Ltd - India
- Indonesian Coal Mining Association
- Global Coal Blending Company Limited - Australia
- Kohat Cement Company Ltd. - Pakistan
- Banpu Public Company Limited - Thailand
- Eastern Coal Council - USA
- Vijayanagar Sugar Pvt Ltd - India
- Rio Tinto Coal - Australia
- Directorate Of Revenue Intelligence - India
- Independent Power Producers Association of India
- CIMB Investment Bank - Malaysia
- ASAPP Information Group - India
- Africa Commodities Group - South Africa
- Mercator Lines Limited - India
- SN Aboitiz Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Australian Coal Association
- LBH Netherlands Bv - Netherlands
- Global Business Power Corporation, Philippines
- Baramulti Group, Indonesia
- The University of Queensland
- Wood Mackenzie - Singapore
- PTC India Limited - India
- Semirara Mining and Power Corporation, Philippines
- London Commodity Brokers - England
- Commonwealth Bank - Australia
- Posco Energy - South Korea
- Rashtriya Ispat Nigam Limited - India
- Iligan Light & Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- MS Steel International - UAE
- Siam City Cement PLC, Thailand
- Madhucon Powers Ltd - India
- Heidelberg Cement - Germany
- Simpson Spence & Young - Indonesia
- Essar Steel Hazira Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Parry Sugars Refinery, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Link Ltd, New Zealand
- Orica Australia Pty. Ltd.
- Chamber of Mines of South Africa
- Manunggal Multi Energi - Indonesia
- Antam Resourcindo - Indonesia
- Uttam Galva Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Cement Manufacturers Association - India
- Ministry of Mines - Canada
- Ministry of Transport, Egypt
- Sakthi Sugars Limited - India
- Attock Cement Pakistan Limited
- Bhoruka Overseas - Indonesia
- Parliament of New Zealand
- Chettinad Cement Corporation Ltd - India
- Deloitte Consulting - India
- Tata Chemicals Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Trasteel International SA, Italy
- India Bulls Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Therma Luzon, Inc, Philippines
- Georgia Ports Authority, United States
- Bukit Makmur.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Latin American Coal - Colombia
- Port Waratah Coal Services - Australia
- IEA Clean Coal Centre - UK
- Savvy Resources Ltd - HongKong
- Metalloyd Limited - United Kingdom
- Economic Council, Georgia
- Energy Development Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Ambuja Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Agrawal Coal Company - India
- Ministry of Finance - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Star Paper Mills Limited - India
- Power Finance Corporation Ltd., India
- Global Green Power PLC Corporation, Philippines
- Planning Commission, India
- The State Trading Corporation of India Ltd
- Bukit Baiduri Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Thiess Contractors Indonesia
- Pendopo Energi Batubara - Indonesia
- Sojitz Corporation - Japan
- AsiaOL BioFuels Corp., Philippines
- Aditya Birla Group - India
- Semirara Mining Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Energy Exchange, India
- Altura Mining Limited, Indonesia
- Wilmar Investment Holdings
- Carbofer General Trading SA - India
- Samtan Co., Ltd - South Korea
- Bharathi Cement Corporation - India
- Marubeni Corporation - India
- Barasentosa Lestari - Indonesia
- Indika Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Sarangani Energy Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Standard Chartered Bank - UAE
- Singapore Mercantile Exchange
- San Jose City I Power Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Minerals Council of Australia
- Petrochimia International Co. Ltd.- Taiwan
- Globalindo Alam Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Kumho Petrochemical, South Korea
- CNBM International Corporation - China
- Borneo Indobara - Indonesia
- Formosa Plastics Group - Taiwan
- Kideco Jaya Agung - Indonesia
- Videocon Industries ltd - India
- Thai Mozambique Logistica
- Medco Energi Mining Internasional
- GMR Energy Limited - India
- Electricity Generating Authority of Thailand
- Binh Thuan Hamico - Vietnam
- ICICI Bank Limited - India
- Kaltim Prima Coal - Indonesia
- Price Waterhouse Coopers - Russia
- Bahari Cakrawala Sebuku - Indonesia
- Sindya Power Generating Company Private Ltd
- Vizag Seaport Private Limited - India
- PNOC Exploration Corporation - Philippines
- Eastern Energy - Thailand
- Siam City Cement - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Mintek Dendrill Indonesia
- VISA Power Limited - India
- GVK Power & Infra Limited - India
- Australian Commodity Traders Exchange
- Merrill Lynch Commodities Europe
- Lanco Infratech Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Romanian Commodities Exchange
- Bulk Trading Sa - Switzerland
- Orica Mining Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bhatia International Limited - India
- Interocean Group of Companies - India
- Indian Oil Corporation Limited
- Kalimantan Lumbung Energi - Indonesia
- Coastal Gujarat Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bangladesh Power Developement Board
- Goldman Sachs - Singapore
- Toyota Tsusho Corporation, Japan
- SMG Consultants - Indonesia
- Kartika Selabumi Mining - Indonesia
- Coalindo Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Central Electricity Authority - India
- Kepco SPC Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Sidhee Cement - India
- Mercuria Energy - Indonesia
- Tamil Nadu electricity Board
- Renaissance Capital - South Africa
- Central Java Power - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petron Corporation, Philippines
- Anglo American - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Dalmia Cement Bharat India
- Aboitiz Power Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Intertek Mineral Services - Indonesia
- Ind-Barath Power Infra Limited - India
- South Luzon Thermal Energy Corporation
- Meralco Power Generation, Philippines
- McConnell Dowell - Australia
- Sree Jayajothi Cements Limited - India
- Makarim & Taira - Indonesia
- Malabar Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- PowerSource Philippines DevCo
- White Energy Company Limited
- The Treasury - Australian Government
- Billiton Holdings Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Grasim Industreis Ltd - India
- New Zealand Coal & Carbon
- Edison Trading Spa - Italy
- Miang Besar Coal Terminal - Indonesia
- Mjunction Services Limited - India
- Cigading International Bulk Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- Electricity Authority, New Zealand
- Sinarmas Energy and Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Ceylon Electricity Board - Sri Lanka
- IHS Mccloskey Coal Group - USA
- SMC Global Power, Philippines
- Coal and Oil Company - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhushan Steel Limited - India
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