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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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Thursday, 10 November 16
WILL TRUMP VICTORY PROVIDE A BOOST FOR HYDROCARBON & COAL INDUSTRIES? - DOUGLAS-WESTWOOD
Donald Trump’s surprise victory ends months of an adversarial presidential campaign with bitter disagreements between the two major candidate ...
Thursday, 10 November 16
PANAMAX: NO TRUMP INFLUENCE YET, AND THE MARKET IS HEADING NORTH - FEARNLEYS
Supramax
Pacific Supra market still soft and falling this week, although seems to be in a somewhat slower pace compared to last week. According t ...
Wednesday, 09 November 16
SINGAPORE'S SGX COMPLETES ACQUISITION OF LONDON'S BALTIC EXCHANGE
COALspot.com: Singapore Exchange Limited and The Baltic Exchange Limited together announced that the acquisition of the Baltic Exchange by SGX has ...
Wednesday, 09 November 16
SUPRAMAX: 50% INCREASE ON AVERAGE SINCE THE FIRST QUARTER OF THE YEAR - GIANNIS ANDRITSOPOULOS
Last week was an interesting one for the tanker market, which following the explosion of the gas pipeline in Alabama witnessed a spike in Atlantic ...
Tuesday, 08 November 16
S.KOREA'S KOMIPO ISSUES TENDER TO BUY 390K TONS OF BITUMINOUS COAL FOR JAN-FEB 2017
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 390,000 Metric Tons of Bituminous Coal for its B ...
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- Port Waratah Coal Services - Australia
- Tamil Nadu electricity Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Java Power - Indonesia
- Bhoruka Overseas - Indonesia
- Independent Power Producers Association of India
- Sical Logistics Limited - India
- Banpu Public Company Limited - Thailand
- PNOC Exploration Corporation - Philippines
- Wilmar Investment Holdings
- McConnell Dowell - Australia
- Indogreen Group - Indonesia
- White Energy Company Limited
- Jorong Barutama Greston.PT - Indonesia
- The University of Queensland
- Antam Resourcindo - Indonesia
- PowerSource Philippines DevCo
- Gujarat Sidhee Cement - India
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining Corp, Philippines
- Therma Luzon, Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bharathi Cement Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Merrill Lynch Commodities Europe
- Malabar Cements Ltd - India
- The State Trading Corporation of India Ltd
- Miang Besar Coal Terminal - Indonesia
- Wood Mackenzie - Singapore
- Georgia Ports Authority, United States
- Vijayanagar Sugar Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- London Commodity Brokers - England
- Grasim Industreis Ltd - India
- Sakthi Sugars Limited - India
- Rio Tinto Coal - Australia
- Kideco Jaya Agung - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining and Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Larsen & Toubro Limited - India
- Agrawal Coal Company - India
- The Treasury - Australian Government
- Commonwealth Bank - Australia
- Makarim & Taira - Indonesia
- Sarangani Energy Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Electricity Authority, New Zealand
- Economic Council, Georgia
- Directorate General of MIneral and Coal - Indonesia
- Edison Trading Spa - Italy
- MS Steel International - UAE
- SMC Global Power, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- ICICI Bank Limited - India
- Videocon Industries ltd - India
- Globalindo Alam Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bhatia International Limited - India
- Medco Energi Mining Internasional
- Cement Manufacturers Association - India
- Bhushan Steel Limited - India
- Metalloyd Limited - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Alfred C Toepfer International GmbH - Germany
- Xindia Steels Limited - India
- South Luzon Thermal Energy Corporation
- Bangladesh Power Developement Board
- India Bulls Power Limited - India
- Mintek Dendrill Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Timah Investasi Mineral - Indoneisa
- Toyota Tsusho Corporation, Japan
- Gujarat Mineral Development Corp Ltd - India
- Indo Tambangraya Megah - Indonesia
- Mercator Lines Limited - India
- Siam City Cement - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- PTC India Limited - India
- Romanian Commodities Exchange
- Lanco Infratech Ltd - India
- Marubeni Corporation - India
- Eastern Coal Council - USA
- Riau Bara Harum - Indonesia
- Orica Australia Pty. Ltd.
- Ministry of Transport, Egypt
- Planning Commission, India
- Attock Cement Pakistan Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- Thai Mozambique Logistica
- Iligan Light & Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- Trasteel International SA, Italy
- OPG Power Generation Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parliament of New Zealand
- Australian Coal Association
- Ministry of Finance - Indonesia
- Meralco Power Generation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Jaiprakash Power Ventures ltd
- Pendopo Energi Batubara - Indonesia
- Indonesian Coal Mining Association
- Latin American Coal - Colombia
- Central Electricity Authority - India
- Posco Energy - South Korea
- CNBM International Corporation - China
- Meenaskhi Energy Private Limited - India
- Eastern Energy - Thailand
- Essar Steel Hazira Ltd - India
- Minerals Council of Australia
- Indika Energy - Indonesia
- GVK Power & Infra Limited - India
- Coal and Oil Company - UAE
- Coastal Gujarat Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Heidelberg Cement - Germany
- Vedanta Resources Plc - India
- International Coal Ventures Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Aditya Birla Group - India
- Singapore Mercantile Exchange
- Cigading International Bulk Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Electricity Generating Authority of Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Baramulti Group, Indonesia
- Australian Commodity Traders Exchange
- Chettinad Cement Corporation Ltd - India
- Global Coal Blending Company Limited - Australia
- Kaltim Prima Coal - Indonesia
- Renaissance Capital - South Africa
- Tata Chemicals Ltd - India
- Mjunction Services Limited - India
- Parry Sugars Refinery, India
- Energy Development Corp, Philippines
- Energy Link Ltd, New Zealand
- Indian Oil Corporation Limited
- Sindya Power Generating Company Private Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Barasentosa Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Dalmia Cement Bharat India
- Formosa Plastics Group - Taiwan
- IEA Clean Coal Centre - UK
- New Zealand Coal & Carbon
- GMR Energy Limited - India
- Manunggal Multi Energi - Indonesia
- Vizag Seaport Private Limited - India
- Savvy Resources Ltd - HongKong
- GAC Shipping (India) Pvt Ltd
- PetroVietnam Power Coal Import and Supply Company
- San Jose City I Power Corp, Philippines
- Kumho Petrochemical, South Korea
- Siam City Cement PLC, Thailand
- Kartika Selabumi Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Holcim Trading Pte Ltd - Singapore
- SMG Consultants - Indonesia
- Bukit Baiduri Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- ASAPP Information Group - India
- Aboitiz Power Corporation - Philippines
- Thiess Contractors Indonesia
- Africa Commodities Group - South Africa
- Gujarat Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- Orica Mining Services - Indonesia
- Ambuja Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- Anglo American - United Kingdom
- Standard Chartered Bank - UAE
- Coalindo Energy - Indonesia
- Carbofer General Trading SA - India
- Global Business Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- European Bulk Services B.V. - Netherlands
- SN Aboitiz Power Inc, Philippines
- Mercuria Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Madhucon Powers Ltd - India
- IHS Mccloskey Coal Group - USA
- Chamber of Mines of South Africa
- Indian Energy Exchange, India
- Deloitte Consulting - India
- Goldman Sachs - Singapore
- Altura Mining Limited, Indonesia
- Price Waterhouse Coopers - Russia
- Oldendorff Carriers - Singapore
- Kapuas Tunggal Persada - Indonesia
- Samtan Co., Ltd - South Korea
- Borneo Indobara - Indonesia
- VISA Power Limited - India
- Petron Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- LBH Netherlands Bv - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Bayan Resources Tbk. - Indonesia
- Ministry of Mines - Canada
- Interocean Group of Companies - India
- Jindal Steel & Power Ltd - India
- Bukit Makmur.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Sojitz Corporation - Japan
- TeaM Sual Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Leighton Contractors Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Star Paper Mills Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
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