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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, 12 October 16
MARKET INSIGHT - LINOS KOGEVINAS
Another Monday has gone by, bringing with it further turbulence for oil. A series of meetings between high-production nations Russia & Saudi Ar ...
Wednesday, 12 October 16
INDIAN STEELMAKERS' DELEVERAGING AT RISK ON COKING COAL PRICE JUMP - FITCH
The sharp increase in coking coal prices since August 2016 could squeeze Indian steelmakers' profitability and threaten their deleveraging, Fit ...
Wednesday, 12 October 16
UK SEABORNE COAL IMPORT PLUNGES 64% AS A WORRYING TREND LURKS - BIMCO
The main exporters of thermal coal for coal- fired power plants to the United Kingdom (UK) have experienced a heavy decline in seaborne cargo volum ...
Monday, 10 October 16
INDONESIAN COAL PRICE REFERENCE HITS HIGHEST LEVELS SINCE SEPTEMBER 2014
COALspot.com: The Indonesia coal benchmark price hits to its highest level since September 2014. The government declared benchmark prices for Indon ...
Monday, 10 October 16
THE FREIGHT MARKET FIRMS UP ON STRONG CAPE PERFORMANCE
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose again and ending in a positive note this past week. ...
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- Bangladesh Power Developement Board
- Dalmia Cement Bharat India
- Kaltim Prima Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Makarim & Taira - Indonesia
- South Luzon Thermal Energy Corporation
- Energy Link Ltd, New Zealand
- Videocon Industries ltd - India
- Australian Commodity Traders Exchange
- Mercuria Energy - Indonesia
- Attock Cement Pakistan Limited
- Bahari Cakrawala Sebuku - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Ministry of Transport, Egypt
- PowerSource Philippines DevCo
- Indian Energy Exchange, India
- PTC India Limited - India
- Coastal Gujarat Power Limited - India
- Simpson Spence & Young - Indonesia
- Orica Mining Services - Indonesia
- Petron Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Chettinad Cement Corporation Ltd - India
- Madhucon Powers Ltd - India
- Carbofer General Trading SA - India
- Energy Development Corp, Philippines
- Indian Oil Corporation Limited
- Eastern Coal Council - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Aditya Birla Group - India
- Semirara Mining and Power Corporation, Philippines
- Chamber of Mines of South Africa
- Kumho Petrochemical, South Korea
- Banpu Public Company Limited - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Ind-Barath Power Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Manunggal Multi Energi - Indonesia
- Renaissance Capital - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Agrawal Coal Company - India
- Global Green Power PLC Corporation, Philippines
- Standard Chartered Bank - UAE
- Rio Tinto Coal - Australia
- Merrill Lynch Commodities Europe
- Mintek Dendrill Indonesia
- Directorate Of Revenue Intelligence - India
- Sinarmas Energy and Mining - Indonesia
- Romanian Commodities Exchange
- Cigading International Bulk Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Cement Manufacturers Association - India
- Iligan Light & Power Inc, Philippines
- Lanco Infratech Ltd - India
- Price Waterhouse Coopers - Russia
- San Jose City I Power Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- IEA Clean Coal Centre - UK
- GVK Power & Infra Limited - India
- Xindia Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Pipit Mutiara Jaya. PT, Indonesia
- New Zealand Coal & Carbon
- Savvy Resources Ltd - HongKong
- Metalloyd Limited - United Kingdom
- Jaiprakash Power Ventures ltd
- Semirara Mining Corp, Philippines
- Goldman Sachs - Singapore
- Timah Investasi Mineral - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Kobexindo Tractors - Indoneisa
- Mercator Lines Limited - India
- Global Coal Blending Company Limited - Australia
- SMG Consultants - Indonesia
- TeaM Sual Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- The University of Queensland
- Binh Thuan Hamico - Vietnam
- MS Steel International - UAE
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement PLC, Thailand
- The State Trading Corporation of India Ltd
- Rashtriya Ispat Nigam Limited - India
- Bulk Trading Sa - Switzerland
- OPG Power Generation Pvt Ltd - India
- Sical Logistics Limited - India
- Asmin Koalindo Tuhup - Indonesia
- ASAPP Information Group - India
- Meralco Power Generation, Philippines
- Tamil Nadu electricity Board
- Sojitz Corporation - Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Deloitte Consulting - India
- Heidelberg Cement - Germany
- Independent Power Producers Association of India
- Bharathi Cement Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karaikal Port Pvt Ltd - India
- Electricity Authority, New Zealand
- Wilmar Investment Holdings
- Mjunction Services Limited - India
- Holcim Trading Pte Ltd - Singapore
- Salva Resources Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ceylon Electricity Board - Sri Lanka
- Parliament of New Zealand
- Formosa Plastics Group - Taiwan
- Therma Luzon, Inc, Philippines
- SMC Global Power, Philippines
- Posco Energy - South Korea
- Antam Resourcindo - Indonesia
- Larsen & Toubro Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Baramulti Group, Indonesia
- Economic Council, Georgia
- Thai Mozambique Logistica
- Power Finance Corporation Ltd., India
- Sindya Power Generating Company Private Ltd
- London Commodity Brokers - England
- White Energy Company Limited
- Kideco Jaya Agung - Indonesia
- The Treasury - Australian Government
- Uttam Galva Steels Limited - India
- Bhatia International Limited - India
- Georgia Ports Authority, United States
- McConnell Dowell - Australia
- India Bulls Power Limited - India
- Aboitiz Power Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Planning Commission, India
- ICICI Bank Limited - India
- Essar Steel Hazira Ltd - India
- Oldendorff Carriers - Singapore
- Australian Coal Association
- Malabar Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- Pendopo Energi Batubara - Indonesia
- Sakthi Sugars Limited - India
- Gujarat Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- Bhushan Steel Limited - India
- International Coal Ventures Pvt Ltd - India
- Star Paper Mills Limited - India
- Bhoruka Overseas - Indonesia
- Gujarat Sidhee Cement - India
- Port Waratah Coal Services - Australia
- Commonwealth Bank - Australia
- Indogreen Group - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Grasim Industreis Ltd - India
- Trasteel International SA, Italy
- Africa Commodities Group - South Africa
- Minerals Council of Australia
- Indo Tambangraya Megah - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Altura Mining Limited, Indonesia
- Kartika Selabumi Mining - Indonesia
- Indika Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Vedanta Resources Plc - India
- Sree Jayajothi Cements Limited - India
- CIMB Investment Bank - Malaysia
- Maheswari Brothers Coal Limited - India
- Intertek Mineral Services - Indonesia
- VISA Power Limited - India
- Meenaskhi Energy Private Limited - India
- Kepco SPC Power Corporation, Philippines
- Central Electricity Authority - India
- Indonesian Coal Mining Association
- Coalindo Energy - Indonesia
- Ambuja Cements Ltd - India
- Coal and Oil Company - UAE
- Interocean Group of Companies - India
- Karbindo Abesyapradhi - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Marubeni Corporation - India
- Central Java Power - Indonesia
- Latin American Coal - Colombia
- Singapore Mercantile Exchange
- Eastern Energy - Thailand
- Medco Energi Mining Internasional
- Thiess Contractors Indonesia
- Kapuas Tunggal Persada - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Vizag Seaport Private Limited - India
- GMR Energy Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- SN Aboitiz Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Ministry of Finance - Indonesia
- CNBM International Corporation - China
- Borneo Indobara - Indonesia
- Tata Chemicals Ltd - India
- Orica Australia Pty. Ltd.
- Jindal Steel & Power Ltd - India
- Edison Trading Spa - Italy
- Bukit Baiduri Energy - Indonesia
- Riau Bara Harum - Indonesia
- Parry Sugars Refinery, India
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Miang Besar Coal Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Ministry of Mines - Canada
- Wood Mackenzie - Singapore
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