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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, 27 October 16
PANAMAX: FIRM ATLANTIC; TOPPISH PACIFIC - FEARNLEYS
Supramax
The trend from last week is passed on. ECSA still strong with Supras from N Brazil to Med fixed at $9,000 to $9,500 daily.
Accordin ...
Wednesday, 26 October 16
SHIPPING MARKET INSIGHT - KONSTANTINOS KONTOMICHIS
If the finale of a thriller movie finds the leading actor successfully surviving after all the sacrifices he has made, the audience presumes this t ...
Tuesday, 25 October 16
INDONESIAN COAL PRICES MARCH HIGHER CONTINUES
COALspot.com: A rally in thermal coal prices over the past few months, after years of decline, is still continuing and it is expected to rally at l ...
Tuesday, 25 October 16
THINGS ARE SLOWLY STARTING TO IMPROVE AS CORRECTIONS ARE MADE - ALLIED
It seems as though left, right and centre, all we see nowadays is the word “restructuring”.
There is restructuring amongst bankers ...
Monday, 24 October 16
KOMIPO INVITES BIDS FOR 0.78 MILLION TONS OF BITUMINOUS COAL
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 780,000 Metric Tons of Bituminous Coal for its B ...
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- CIMB Investment Bank - Malaysia
- Kideco Jaya Agung - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- India Bulls Power Limited - India
- Wood Mackenzie - Singapore
- Independent Power Producers Association of India
- McConnell Dowell - Australia
- Sical Logistics Limited - India
- Kepco SPC Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- TNB Fuel Sdn Bhd - Malaysia
- Directorate Of Revenue Intelligence - India
- Mercator Lines Limited - India
- OPG Power Generation Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Manunggal Multi Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- MS Steel International - UAE
- The State Trading Corporation of India Ltd
- Heidelberg Cement - Germany
- Bhoruka Overseas - Indonesia
- Borneo Indobara - Indonesia
- PowerSource Philippines DevCo
- Planning Commission, India
- Rio Tinto Coal - Australia
- Trasteel International SA, Italy
- Banpu Public Company Limited - Thailand
- Bhatia International Limited - India
- Parry Sugars Refinery, India
- Interocean Group of Companies - India
- Gujarat Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Indian Oil Corporation Limited
- Ambuja Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- Latin American Coal - Colombia
- Maheswari Brothers Coal Limited - India
- Commonwealth Bank - Australia
- Larsen & Toubro Limited - India
- Marubeni Corporation - India
- Edison Trading Spa - Italy
- Anglo American - United Kingdom
- Karaikal Port Pvt Ltd - India
- Bharathi Cement Corporation - India
- Attock Cement Pakistan Limited
- Pendopo Energi Batubara - Indonesia
- Eastern Energy - Thailand
- TeaM Sual Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Economic Council, Georgia
- Bhushan Steel Limited - India
- Meralco Power Generation, Philippines
- Georgia Ports Authority, United States
- Petrochimia International Co. Ltd.- Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Mjunction Services Limited - India
- Cement Manufacturers Association - India
- Electricity Generating Authority of Thailand
- Chettinad Cement Corporation Ltd - India
- Renaissance Capital - South Africa
- GVK Power & Infra Limited - India
- Xindia Steels Limited - India
- San Jose City I Power Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- PNOC Exploration Corporation - Philippines
- Therma Luzon, Inc, Philippines
- ASAPP Information Group - India
- Semirara Mining Corp, Philippines
- PTC India Limited - India
- Kapuas Tunggal Persada - Indonesia
- Iligan Light & Power Inc, Philippines
- Ministry of Transport, Egypt
- Mintek Dendrill Indonesia
- The Treasury - Australian Government
- IHS Mccloskey Coal Group - USA
- Sarangani Energy Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Timah Investasi Mineral - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Formosa Plastics Group - Taiwan
- Kohat Cement Company Ltd. - Pakistan
- Jorong Barutama Greston.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Malabar Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Africa Commodities Group - South Africa
- Lanco Infratech Ltd - India
- London Commodity Brokers - England
- SMC Global Power, Philippines
- Alfred C Toepfer International GmbH - Germany
- Global Business Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Holcim Trading Pte Ltd - Singapore
- Thai Mozambique Logistica
- South Luzon Thermal Energy Corporation
- Savvy Resources Ltd - HongKong
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aditya Birla Group - India
- Central Electricity Authority - India
- VISA Power Limited - India
- Star Paper Mills Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- Merrill Lynch Commodities Europe
- Energy Link Ltd, New Zealand
- Videocon Industries ltd - India
- Globalindo Alam Lestari - Indonesia
- Power Finance Corporation Ltd., India
- Tamil Nadu electricity Board
- Energy Development Corp, Philippines
- Siam City Cement - Thailand
- Mercuria Energy - Indonesia
- Dalmia Cement Bharat India
- Sinarmas Energy and Mining - Indonesia
- Electricity Authority, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Romanian Commodities Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Singapore Mercantile Exchange
- Indika Energy - Indonesia
- Makarim & Taira - Indonesia
- Indogreen Group - Indonesia
- Jaiprakash Power Ventures ltd
- Salva Resources Pvt Ltd - India
- Baramulti Group, Indonesia
- Bayan Resources Tbk. - Indonesia
- Indonesian Coal Mining Association
- Ceylon Electricity Board - Sri Lanka
- Eastern Coal Council - USA
- International Coal Ventures Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Simpson Spence & Young - Indonesia
- GMR Energy Limited - India
- Uttam Galva Steels Limited - India
- Intertek Mineral Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Standard Chartered Bank - UAE
- LBH Netherlands Bv - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chamber of Mines of South Africa
- Samtan Co., Ltd - South Korea
- Leighton Contractors Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Java Power - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Vedanta Resources Plc - India
- Agrawal Coal Company - India
- Parliament of New Zealand
- Global Coal Blending Company Limited - Australia
- Krishnapatnam Port Company Ltd. - India
- Billiton Holdings Pty Ltd - Australia
- Coal and Oil Company - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- GAC Shipping (India) Pvt Ltd
- Meenaskhi Energy Private Limited - India
- Indian Energy Exchange, India
- Gujarat Mineral Development Corp Ltd - India
- Altura Mining Limited, Indonesia
- New Zealand Coal & Carbon
- Bukit Makmur.PT - Indonesia
- IEA Clean Coal Centre - UK
- The University of Queensland
- Aboitiz Power Corporation - Philippines
- Wilmar Investment Holdings
- Oldendorff Carriers - Singapore
- Semirara Mining and Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Miang Besar Coal Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Madhucon Powers Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kaltim Prima Coal - Indonesia
- Deloitte Consulting - India
- Ministry of Mines - Canada
- Vizag Seaport Private Limited - India
- Ind-Barath Power Infra Limited - India
- Coalindo Energy - Indonesia
- Ministry of Finance - Indonesia
- Sree Jayajothi Cements Limited - India
- Orica Mining Services - Indonesia
- CNBM International Corporation - China
- Metalloyd Limited - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Carbofer General Trading SA - India
- Sindya Power Generating Company Private Ltd
- Sakthi Sugars Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Binh Thuan Hamico - Vietnam
- Grasim Industreis Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Sojitz Corporation - Japan
- Essar Steel Hazira Ltd - India
- White Energy Company Limited
- Goldman Sachs - Singapore
- Siam City Cement PLC, Thailand
- Tata Chemicals Ltd - India
- Medco Energi Mining Internasional
- Karbindo Abesyapradhi - Indoneisa
- Antam Resourcindo - Indonesia
- Minerals Council of Australia
- Thiess Contractors Indonesia
- SMG Consultants - Indonesia
- Bukit Baiduri Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Gujarat Sidhee Cement - India
- Bangladesh Power Developement Board
- Kobexindo Tractors - Indoneisa
- Australian Coal Association
- Riau Bara Harum - Indonesia
- Port Waratah Coal Services - Australia
- ICICI Bank Limited - India
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