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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, 29 November 16
US WEEKLY COAL OUTPUT TOTALS 17.2 MMST, UP 2.8% : EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 17.2 million short ton ...
Monday, 28 November 16
BALTIC DRY INDEX FALLS TO 1181 POINT, DOWN 76 POINTS W/W
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities down slightly and ending in a negative note this past wee ...
Thursday, 24 November 16
SUPRAMAX: SOUTH AFRICA STILL STRONG WITH OWNERS ACHIEVING AROUND USD 14-15K FOR TRIPS EAST - FEARNLEYS
Supramax
A positive kick-off in both the Atlantic and the Pacific. Very healthy rates within USG, some supras receiving well over 20k for trips t ...
Wednesday, 23 November 16
MARKET INSIGHT - CHRISTOPHER THOMAS WHITTY
The Organization of the Petroleum Exporting Countries (OPEC) is due to finalize a reduction in total production at its next scheduled meeting in Vi ...
Tuesday, 22 November 16
ITALY'S STEAM COAL IMPORTS EXPECTED TO DECLINE 7% Y/Y TO 15 MILLION TONS IN 2017 - ITALIAN COAL ASSOCIATION
Italy’s steam coal imports expected to decline to 15 million tons in 2017, or 7% less imports compared to 2016. The coking coal imports are e ...
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- Karaikal Port Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Coal and Oil Company - UAE
- Orica Australia Pty. Ltd.
- Therma Luzon, Inc, Philippines
- South Luzon Thermal Energy Corporation
- Wilmar Investment Holdings
- Ministry of Finance - Indonesia
- Minerals Council of Australia
- London Commodity Brokers - England
- Semirara Mining Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Parry Sugars Refinery, India
- Planning Commission, India
- Barasentosa Lestari - Indonesia
- Thai Mozambique Logistica
- Cement Manufacturers Association - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kapuas Tunggal Persada - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bhatia International Limited - India
- Sojitz Corporation - Japan
- ICICI Bank Limited - India
- Aboitiz Power Corporation - Philippines
- Central Electricity Authority - India
- Goldman Sachs - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Sinarmas Energy and Mining - Indonesia
- India Bulls Power Limited - India
- Vizag Seaport Private Limited - India
- Trasteel International SA, Italy
- Kepco SPC Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Parliament of New Zealand
- Tata Chemicals Ltd - India
- Georgia Ports Authority, United States
- Borneo Indobara - Indonesia
- Kobexindo Tractors - Indoneisa
- The Treasury - Australian Government
- Sakthi Sugars Limited - India
- Sree Jayajothi Cements Limited - India
- White Energy Company Limited
- Indonesian Coal Mining Association
- Kumho Petrochemical, South Korea
- Bukit Baiduri Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Petron Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Australian Commodity Traders Exchange
- Vedanta Resources Plc - India
- GMR Energy Limited - India
- Meenaskhi Energy Private Limited - India
- Central Java Power - Indonesia
- Renaissance Capital - South Africa
- Malabar Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- TeaM Sual Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- Kideco Jaya Agung - Indonesia
- Intertek Mineral Services - Indonesia
- Straits Asia Resources Limited - Singapore
- Coastal Gujarat Power Limited - India
- Latin American Coal - Colombia
- Indian Oil Corporation Limited
- Medco Energi Mining Internasional
- Meralco Power Generation, Philippines
- Mintek Dendrill Indonesia
- Tamil Nadu electricity Board
- Bukit Makmur.PT - Indonesia
- Africa Commodities Group - South Africa
- Kalimantan Lumbung Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Star Paper Mills Limited - India
- AsiaOL BioFuels Corp., Philippines
- GVK Power & Infra Limited - India
- Aditya Birla Group - India
- Leighton Contractors Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chamber of Mines of South Africa
- Simpson Spence & Young - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Oldendorff Carriers - Singapore
- Kartika Selabumi Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Antam Resourcindo - Indonesia
- Indo Tambangraya Megah - Indonesia
- Marubeni Corporation - India
- Independent Power Producers Association of India
- OPG Power Generation Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Coalindo Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Mining Services - Indonesia
- Siam City Cement PLC, Thailand
- PNOC Exploration Corporation - Philippines
- McConnell Dowell - Australia
- Videocon Industries ltd - India
- Australian Coal Association
- Singapore Mercantile Exchange
- CIMB Investment Bank - Malaysia
- San Jose City I Power Corp, Philippines
- IEA Clean Coal Centre - UK
- Global Coal Blending Company Limited - Australia
- Makarim & Taira - Indonesia
- Standard Chartered Bank - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Interocean Group of Companies - India
- Eastern Energy - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The State Trading Corporation of India Ltd
- Anglo American - United Kingdom
- Binh Thuan Hamico - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Global Green Power PLC Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Globalindo Alam Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Agrawal Coal Company - India
- Lanco Infratech Ltd - India
- GAC Shipping (India) Pvt Ltd
- Formosa Plastics Group - Taiwan
- Rio Tinto Coal - Australia
- Indian Energy Exchange, India
- PowerSource Philippines DevCo
- Jindal Steel & Power Ltd - India
- LBH Netherlands Bv - Netherlands
- Merrill Lynch Commodities Europe
- TNB Fuel Sdn Bhd - Malaysia
- International Coal Ventures Pvt Ltd - India
- Global Business Power Corporation, Philippines
- SMG Consultants - Indonesia
- New Zealand Coal & Carbon
- Karbindo Abesyapradhi - Indoneisa
- Bangladesh Power Developement Board
- Essar Steel Hazira Ltd - India
- Port Waratah Coal Services - Australia
- Indika Energy - Indonesia
- Riau Bara Harum - Indonesia
- ASAPP Information Group - India
- Carbofer General Trading SA - India
- Gujarat Sidhee Cement - India
- Ministry of Transport, Egypt
- Indogreen Group - Indonesia
- Altura Mining Limited, Indonesia
- VISA Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Mercator Lines Limited - India
- Madhucon Powers Ltd - India
- PTC India Limited - India
- Electricity Generating Authority of Thailand
- Heidelberg Cement - Germany
- Iligan Light & Power Inc, Philippines
- Mercuria Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Kohat Cement Company Ltd. - Pakistan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wood Mackenzie - Singapore
- Baramulti Group, Indonesia
- Sical Logistics Limited - India
- Posco Energy - South Korea
- Commonwealth Bank - Australia
- Bhoruka Overseas - Indonesia
- Kaltim Prima Coal - Indonesia
- Romanian Commodities Exchange
- Deloitte Consulting - India
- Bhushan Steel Limited - India
- Electricity Authority, New Zealand
- Edison Trading Spa - Italy
- MS Steel International - UAE
- Power Finance Corporation Ltd., India
- Pendopo Energi Batubara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Samtan Co., Ltd - South Korea
- Mjunction Services Limited - India
- SMC Global Power, Philippines
- Bulk Trading Sa - Switzerland
- Grasim Industreis Ltd - India
- Siam City Cement - Thailand
- Bayan Resources Tbk. - Indonesia
- Energy Development Corp, Philippines
- Thiess Contractors Indonesia
- Energy Link Ltd, New Zealand
- Dalmia Cement Bharat India
- Directorate Of Revenue Intelligence - India
- Attock Cement Pakistan Limited
- The University of Queensland
- Xindia Steels Limited - India
- Savvy Resources Ltd - HongKong
- Sindya Power Generating Company Private Ltd
- Cigading International Bulk Terminal - Indonesia
- Uttam Galva Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Miang Besar Coal Terminal - Indonesia
- Economic Council, Georgia
- Eastern Coal Council - USA
- Price Waterhouse Coopers - Russia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Toyota Tsusho Corporation, Japan
- Ministry of Mines - Canada
- Ind-Barath Power Infra Limited - India
- Ambuja Cements Ltd - India
- Metalloyd Limited - United Kingdom
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