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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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Friday, 07 October 16
INDONESIA'S DEMAND FOR COAL REMAINS STRONG: BP
Indonesia's domestic demand for coal shows no sign of slowing down as the country is banking on its coal abundance to meet the country' ...
Friday, 07 October 16
CEYLON SHIPPING CORPORATION HAS TAKEN DELIVERY OF COAL CARRIER MV.CEYLON PRINCESS
Sri Lanka’s Ceylon Shipping Corporation (CSC) has taken delivery of its second newly built bulk carrier for the transportation of coal to pow ...
Friday, 07 October 16
U.S. YEAR-TO-DATE COAL PRODUCTION TOTALLED AN ESTIMATED 540.5 MMST; DOWN 21.9% Y-O-Y, SAYS EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.7 million short ton ...
Thursday, 06 October 16
SHIPS IN PACIFIC ACHIEVE JUST ABOVE $10K DAILY FOR A BRAZIL ROUND VOYAGE - FEARNLEYS
Supramax
Slower week with limited activity due to holidays in the East. Mixed feelings within different markets, with slight downturn in Pacific ...
Wednesday, 05 October 16
OPEC TO SHUT OFF MORE THAN 6 PERCENT OF ITS PRODUCTION; MIXED FEELING AMONGST TRADERS - ALLIED
OPEC recent accord to shut off more than 6 percent of its production this past week has been met with mixed feeling amongst traders. As we mo ...
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- Jindal Steel & Power Ltd - India
- Binh Thuan Hamico - Vietnam
- Bhoruka Overseas - Indonesia
- SMG Consultants - Indonesia
- Jaiprakash Power Ventures ltd
- Indika Energy - Indonesia
- McConnell Dowell - Australia
- Aditya Birla Group - India
- Africa Commodities Group - South Africa
- Thiess Contractors Indonesia
- Billiton Holdings Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Antam Resourcindo - Indonesia
- Carbofer General Trading SA - India
- European Bulk Services B.V. - Netherlands
- PNOC Exploration Corporation - Philippines
- CNBM International Corporation - China
- Holcim Trading Pte Ltd - Singapore
- Port Waratah Coal Services - Australia
- Intertek Mineral Services - Indonesia
- Power Finance Corporation Ltd., India
- Gujarat Mineral Development Corp Ltd - India
- Renaissance Capital - South Africa
- IEA Clean Coal Centre - UK
- Semirara Mining and Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Maheswari Brothers Coal Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Savvy Resources Ltd - HongKong
- SMC Global Power, Philippines
- International Coal Ventures Pvt Ltd - India
- Agrawal Coal Company - India
- Eastern Coal Council - USA
- Bulk Trading Sa - Switzerland
- Electricity Authority, New Zealand
- Borneo Indobara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Lanco Infratech Ltd - India
- Cement Manufacturers Association - India
- Globalindo Alam Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- TeaM Sual Corporation - Philippines
- Independent Power Producers Association of India
- Larsen & Toubro Limited - India
- Parliament of New Zealand
- Bhushan Steel Limited - India
- Formosa Plastics Group - Taiwan
- Mjunction Services Limited - India
- Gujarat Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Metalloyd Limited - United Kingdom
- Coal and Oil Company - UAE
- Standard Chartered Bank - UAE
- Trasteel International SA, Italy
- Baramulti Group, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Bhatia International Limited - India
- PowerSource Philippines DevCo
- Coalindo Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Indo Tambangraya Megah - Indonesia
- Marubeni Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ASAPP Information Group - India
- Ceylon Electricity Board - Sri Lanka
- Altura Mining Limited, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- Commonwealth Bank - Australia
- Madhucon Powers Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Leighton Contractors Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Ministry of Mines - Canada
- Planning Commission, India
- Pipit Mutiara Jaya. PT, Indonesia
- Malabar Cements Ltd - India
- Ministry of Transport, Egypt
- Kapuas Tunggal Persada - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Anglo American - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Coal Blending Company Limited - Australia
- Meenaskhi Energy Private Limited - India
- South Luzon Thermal Energy Corporation
- The University of Queensland
- India Bulls Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Vedanta Resources Plc - India
- Rio Tinto Coal - Australia
- The Treasury - Australian Government
- Dalmia Cement Bharat India
- Energy Development Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Central Java Power - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Posco Energy - South Korea
- Chamber of Mines of South Africa
- Eastern Energy - Thailand
- Bharathi Cement Corporation - India
- GMR Energy Limited - India
- Kideco Jaya Agung - Indonesia
- Sojitz Corporation - Japan
- Samtan Co., Ltd - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Singapore Mercantile Exchange
- Sical Logistics Limited - India
- Electricity Generating Authority of Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- MS Steel International - UAE
- Parry Sugars Refinery, India
- Bukit Makmur.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Asmin Koalindo Tuhup - Indonesia
- Tamil Nadu electricity Board
- Heidelberg Cement - Germany
- Bukit Baiduri Energy - Indonesia
- The State Trading Corporation of India Ltd
- Meralco Power Generation, Philippines
- Kumho Petrochemical, South Korea
- Videocon Industries ltd - India
- Essar Steel Hazira Ltd - India
- Ambuja Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Wilmar Investment Holdings
- Merrill Lynch Commodities Europe
- Ministry of Finance - Indonesia
- Bangladesh Power Developement Board
- LBH Netherlands Bv - Netherlands
- Siam City Cement PLC, Thailand
- Straits Asia Resources Limited - Singapore
- Sindya Power Generating Company Private Ltd
- AsiaOL BioFuels Corp., Philippines
- Kaltim Prima Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CIMB Investment Bank - Malaysia
- Indogreen Group - Indonesia
- Chettinad Cement Corporation Ltd - India
- Salva Resources Pvt Ltd - India
- ICICI Bank Limited - India
- Timah Investasi Mineral - Indoneisa
- Deloitte Consulting - India
- Minerals Council of Australia
- White Energy Company Limited
- Mercuria Energy - Indonesia
- Attock Cement Pakistan Limited
- Iligan Light & Power Inc, Philippines
- Wood Mackenzie - Singapore
- Interocean Group of Companies - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- VISA Power Limited - India
- Georgia Ports Authority, United States
- Global Business Power Corporation, Philippines
- New Zealand Coal & Carbon
- Xindia Steels Limited - India
- Barasentosa Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Orica Mining Services - Indonesia
- London Commodity Brokers - England
- Pendopo Energi Batubara - Indonesia
- Uttam Galva Steels Limited - India
- Edison Trading Spa - Italy
- Grasim Industreis Ltd - India
- Orica Australia Pty. Ltd.
- Oldendorff Carriers - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Vizag Seaport Private Limited - India
- Directorate Of Revenue Intelligence - India
- Karaikal Port Pvt Ltd - India
- Petron Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Semirara Mining Corp, Philippines
- Siam City Cement - Thailand
- OPG Power Generation Pvt Ltd - India
- PTC India Limited - India
- Central Electricity Authority - India
- San Jose City I Power Corp, Philippines
- Thai Mozambique Logistica
- Tata Chemicals Ltd - India
- Australian Commodity Traders Exchange
- Australian Coal Association
- Bukit Asam (Persero) Tbk - Indonesia
- Star Paper Mills Limited - India
- Mintek Dendrill Indonesia
- Sarangani Energy Corporation, Philippines
- Indonesian Coal Mining Association
- Indian Energy Exchange, India
- Kartika Selabumi Mining - Indonesia
- Simpson Spence & Young - Indonesia
- Indian Oil Corporation Limited
- Aboitiz Power Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Mercator Lines Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Sree Jayajothi Cements Limited - India
- Coastal Gujarat Power Limited - India
- Makarim & Taira - Indonesia
- Riau Bara Harum - Indonesia
- GAC Shipping (India) Pvt Ltd
- Romanian Commodities Exchange
- Miang Besar Coal Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sakthi Sugars Limited - India
- Goldman Sachs - Singapore
- IHS Mccloskey Coal Group - USA
- Latin American Coal - Colombia
- Economic Council, Georgia
- GVK Power & Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
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