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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, 04 December 16
U.S. WEEKLY COAL OUTPUT DECLINED 11.9% W/E 26 NOV; UP 1.4% Y/Y, EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.2 million short ton ...
Thursday, 01 December 16
OIL PRICES MAY SEE LITTLE GROWTH BEFORE 2018, FITCH RATINGS SAYS
High inventories and the potential for US shale production to respond quickly to any market tightening mean oil prices may flat line in 2017 before ...
Thursday, 01 December 16
CHINA 2017 OIL, GAS OUTPUT DROP MAY WORSEN ON CAPEX CUT: FITCH
China's oil and gas production may shrink even more in 2017 than in 2016 after the country's leading oil companies cut exploration and prod ...
Thursday, 01 December 16
ANOTHER WONDERFUL WEEK FOR PANAMAX - FEARNLEY
Supramax
A slower start to the week in the Pacific compared to last Trips from N. China to S. China is paying in the range of low USD 5k, while I ...
Tuesday, 29 November 16
AUSTRALIA'S PORT OF NEWCASTLE SHIPPED 13.08 MT OF COAL IN OCTOBER; DOWN 10.39% M/M
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port has shipped $AU1,124.7 Mi ...
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- Thai Mozambique Logistica
- South Luzon Thermal Energy Corporation
- Central Java Power - Indonesia
- New Zealand Coal & Carbon
- GN Power Mariveles Coal Plant, Philippines
- Samtan Co., Ltd - South Korea
- Posco Energy - South Korea
- Malabar Cements Ltd - India
- Uttam Galva Steels Limited - India
- Anglo American - United Kingdom
- Bhatia International Limited - India
- Latin American Coal - Colombia
- Directorate General of MIneral and Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- GVK Power & Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Trasteel International SA, Italy
- Global Coal Blending Company Limited - Australia
- Deloitte Consulting - India
- Petrochimia International Co. Ltd.- Taiwan
- PetroVietnam Power Coal Import and Supply Company
- Cigading International Bulk Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- PNOC Exploration Corporation - Philippines
- Ministry of Mines - Canada
- Kideco Jaya Agung - Indonesia
- Power Finance Corporation Ltd., India
- Central Electricity Authority - India
- Chamber of Mines of South Africa
- Metalloyd Limited - United Kingdom
- Antam Resourcindo - Indonesia
- Bukit Baiduri Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Eastern Energy - Thailand
- Singapore Mercantile Exchange
- Kaltim Prima Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Vijayanagar Sugar Pvt Ltd - India
- Goldman Sachs - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Iligan Light & Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Bukit Asam (Persero) Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Bharathi Cement Corporation - India
- Port Waratah Coal Services - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Wilmar Investment Holdings
- Thiess Contractors Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Parliament of New Zealand
- Global Business Power Corporation, Philippines
- Economic Council, Georgia
- The State Trading Corporation of India Ltd
- Heidelberg Cement - Germany
- Pendopo Energi Batubara - Indonesia
- Sree Jayajothi Cements Limited - India
- Jindal Steel & Power Ltd - India
- Toyota Tsusho Corporation, Japan
- Indian Energy Exchange, India
- Indo Tambangraya Megah - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aditya Birla Group - India
- Videocon Industries ltd - India
- Indonesian Coal Mining Association
- Edison Trading Spa - Italy
- Wood Mackenzie - Singapore
- Banpu Public Company Limited - Thailand
- Timah Investasi Mineral - Indoneisa
- Savvy Resources Ltd - HongKong
- Bayan Resources Tbk. - Indonesia
- Medco Energi Mining Internasional
- Petron Corporation, Philippines
- Coalindo Energy - Indonesia
- Merrill Lynch Commodities Europe
- Coastal Gujarat Power Limited - India
- GAC Shipping (India) Pvt Ltd
- VISA Power Limited - India
- Larsen & Toubro Limited - India
- Altura Mining Limited, Indonesia
- Energy Development Corp, Philippines
- GMR Energy Limited - India
- LBH Netherlands Bv - Netherlands
- Formosa Plastics Group - Taiwan
- San Jose City I Power Corp, Philippines
- Rio Tinto Coal - Australia
- Carbofer General Trading SA - India
- Tamil Nadu electricity Board
- Mercuria Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Globalindo Alam Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Commonwealth Bank - Australia
- Straits Asia Resources Limited - Singapore
- Mjunction Services Limited - India
- Australian Coal Association
- White Energy Company Limited
- Romanian Commodities Exchange
- Agrawal Coal Company - India
- SMC Global Power, Philippines
- Indogreen Group - Indonesia
- Africa Commodities Group - South Africa
- MS Steel International - UAE
- CNBM International Corporation - China
- Georgia Ports Authority, United States
- Energy Link Ltd, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- India Bulls Power Limited - India
- Semirara Mining Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- PTC India Limited - India
- SMG Consultants - Indonesia
- Indian Oil Corporation Limited
- Bhushan Steel Limited - India
- Manunggal Multi Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Borneo Indobara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Cement Manufacturers Association - India
- Kartika Selabumi Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Ministry of Transport, Egypt
- Electricity Authority, New Zealand
- Price Waterhouse Coopers - Russia
- Aboitiz Power Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Independent Power Producers Association of India
- Essar Steel Hazira Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Coal and Oil Company - UAE
- Barasentosa Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Electricity Generating Authority of Thailand
- Dalmia Cement Bharat India
- Marubeni Corporation - India
- Standard Chartered Bank - UAE
- TeaM Sual Corporation - Philippines
- Vedanta Resources Plc - India
- Karbindo Abesyapradhi - Indoneisa
- The Treasury - Australian Government
- Makarim & Taira - Indonesia
- Orica Australia Pty. Ltd.
- Siam City Cement - Thailand
- Planning Commission, India
- Bhoruka Overseas - Indonesia
- Orica Mining Services - Indonesia
- McConnell Dowell - Australia
- Gujarat Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Siam City Cement PLC, Thailand
- CIMB Investment Bank - Malaysia
- Kepco SPC Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Meralco Power Generation, Philippines
- Indika Energy - Indonesia
- Renaissance Capital - South Africa
- Sarangani Energy Corporation, Philippines
- Lanco Infratech Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Global Green Power PLC Corporation, Philippines
- ICICI Bank Limited - India
- Eastern Coal Council - USA
- Leighton Contractors Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Sakthi Sugars Limited - India
- ASAPP Information Group - India
- Holcim Trading Pte Ltd - Singapore
- The University of Queensland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Baramulti Group, Indonesia
- Sojitz Corporation - Japan
- Gujarat Sidhee Cement - India
- Australian Commodity Traders Exchange
- Kumho Petrochemical, South Korea
- Xindia Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Vizag Seaport Private Limited - India
- Sindya Power Generating Company Private Ltd
- Mercator Lines Limited - India
- Grasim Industreis Ltd - India
- Interocean Group of Companies - India
- Sical Logistics Limited - India
- IEA Clean Coal Centre - UK
- Madhucon Powers Ltd - India
- Kobexindo Tractors - Indoneisa
- Ambuja Cements Ltd - India
- Star Paper Mills Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Mineral Development Corp Ltd - India
- Minerals Council of Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tata Chemicals Ltd - India
- Intertek Mineral Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Finance - Indonesia
- London Commodity Brokers - England
- Riau Bara Harum - Indonesia
- Ind-Barath Power Infra Limited - India
- Parry Sugars Refinery, India
- Rashtriya Ispat Nigam Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- PowerSource Philippines DevCo
- Salva Resources Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Bangladesh Power Developement Board
- Oldendorff Carriers - Singapore
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