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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, 05 October 16
SHIPPING MARKET INSIGHT
On September 27th the OPEC petroleum and energy ministers arrived in Algeria to attend the International Energy Forum, which brought together produ ...
Monday, 03 October 16
THERMAL COAL PRICE SHOOTS UP AND MADE THEIR VERTICAL MOVE IN 5 YEARS; PRICE RALLY 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 ...
Monday, 03 October 16
DRY-BULK SHIPPING FREIGHTS SLIDE IN SOFTENING SPOT MARKET
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities decline slightly and ending in a negative note this past ...
Friday, 30 September 16
U.S. WEEKLY COAL OUTPUT FELL 2.3% - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.7 million short ton ...
Friday, 30 September 16
OPEC CUT SUPPORTS SLOW OIL RECOVERY, NOT STRONG REBOUND - FITCH
OPEC's oil production target announced this week signals the potential for greater co-ordination among its members, but the target itself is la ...
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- Star Paper Mills Limited - India
- Thai Mozambique Logistica
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- Bulk Trading Sa - Switzerland
- Eastern Coal Council - USA
- Alfred C Toepfer International GmbH - Germany
- Deloitte Consulting - India
- Agrawal Coal Company - India
- Altura Mining Limited, Indonesia
- London Commodity Brokers - England
- Toyota Tsusho Corporation, Japan
- Barasentosa Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Xindia Steels Limited - India
- Formosa Plastics Group - Taiwan
- Central Java Power - Indonesia
- Ministry of Finance - Indonesia
- Bangladesh Power Developement Board
- Simpson Spence & Young - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Eastern Energy - Thailand
- Karaikal Port Pvt Ltd - India
- Mjunction Services Limited - India
- Electricity Authority, New Zealand
- Miang Besar Coal Terminal - Indonesia
- CNBM International Corporation - China
- Binh Thuan Hamico - Vietnam
- Bharathi Cement Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- Planning Commission, India
- IHS Mccloskey Coal Group - USA
- Latin American Coal - Colombia
- PowerSource Philippines DevCo
- Baramulti Group, Indonesia
- ICICI Bank Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Lanco Infratech Ltd - India
- San Jose City I Power Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Sinarmas Energy and Mining - Indonesia
- Bhoruka Overseas - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- GMR Energy Limited - India
- Bukit Makmur.PT - Indonesia
- Commonwealth Bank - Australia
- Trasteel International SA, Italy
- Jorong Barutama Greston.PT - Indonesia
- Cement Manufacturers Association - India
- ASAPP Information Group - India
- Aboitiz Power Corporation - Philippines
- Madhucon Powers Ltd - India
- Energy Link Ltd, New Zealand
- New Zealand Coal & Carbon
- Kaltim Prima Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercuria Energy - Indonesia
- Port Waratah Coal Services - Australia
- Savvy Resources Ltd - HongKong
- Economic Council, Georgia
- CIMB Investment Bank - Malaysia
- Dalmia Cement Bharat India
- Bhatia International Limited - India
- Singapore Mercantile Exchange
- Minerals Council of Australia
- Essar Steel Hazira Ltd - India
- Siam City Cement PLC, Thailand
- Australian Commodity Traders Exchange
- Kohat Cement Company Ltd. - Pakistan
- Wilmar Investment Holdings
- Ministry of Mines - Canada
- SMG Consultants - Indonesia
- Romanian Commodities Exchange
- Iligan Light & Power Inc, Philippines
- Sical Logistics Limited - India
- Anglo American - United Kingdom
- Vizag Seaport Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Coal and Oil Company - UAE
- Merrill Lynch Commodities Europe
- Asmin Koalindo Tuhup - Indonesia
- Grasim Industreis Ltd - India
- Renaissance Capital - South Africa
- Edison Trading Spa - Italy
- Coastal Gujarat Power Limited - India
- Bukit Baiduri Energy - Indonesia
- India Bulls Power Limited - India
- Directorate Of Revenue Intelligence - India
- Global Coal Blending Company Limited - Australia
- Videocon Industries ltd - India
- Interocean Group of Companies - India
- Gujarat Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kartika Selabumi Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Orica Mining Services - Indonesia
- Larsen & Toubro Limited - India
- Sindya Power Generating Company Private Ltd
- Standard Chartered Bank - UAE
- Holcim Trading Pte Ltd - Singapore
- Sojitz Corporation - Japan
- PTC India Limited - India
- White Energy Company Limited
- Mintek Dendrill Indonesia
- Orica Australia Pty. Ltd.
- Metalloyd Limited - United Kingdom
- European Bulk Services B.V. - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- Power Finance Corporation Ltd., India
- Ind-Barath Power Infra Limited - India
- Uttam Galva Steels Limited - India
- Independent Power Producers Association of India
- IEA Clean Coal Centre - UK
- Ambuja Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Heidelberg Cement - Germany
- Siam City Cement - Thailand
- Bayan Resources Tbk. - Indonesia
- The State Trading Corporation of India Ltd
- Ministry of Transport, Egypt
- Intertek Mineral Services - Indonesia
- Therma Luzon, Inc, Philippines
- Oldendorff Carriers - Singapore
- Georgia Ports Authority, United States
- Posco Energy - South Korea
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- SMC Global Power, Philippines
- Kideco Jaya Agung - Indonesia
- Indogreen Group - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Directorate General of MIneral and Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Green Power PLC Corporation, Philippines
- Australian Coal Association
- GAC Shipping (India) Pvt Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercator Lines Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- TeaM Sual Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Cigading International Bulk Terminal - Indonesia
- Global Business Power Corporation, Philippines
- Medco Energi Mining Internasional
- Indika Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- The Treasury - Australian Government
- The University of Queensland
- Meralco Power Generation, Philippines
- Energy Development Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- VISA Power Limited - India
- Antam Resourcindo - Indonesia
- Parry Sugars Refinery, India
- Kobexindo Tractors - Indoneisa
- Kumho Petrochemical, South Korea
- Sakthi Sugars Limited - India
- Semirara Mining and Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Petrochimia International Co. Ltd.- Taiwan
- Aditya Birla Group - India
- PNOC Exploration Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Riau Bara Harum - Indonesia
- Maheswari Brothers Coal Limited - India
- Globalindo Alam Lestari - Indonesia
- Indonesian Coal Mining Association
- Jindal Steel & Power Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Energy Exchange, India
- Vedanta Resources Plc - India
- Coalindo Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Rio Tinto Coal - Australia
- Malabar Cements Ltd - India
- Central Electricity Authority - India
- Makarim & Taira - Indonesia
- OPG Power Generation Pvt Ltd - India
- Africa Commodities Group - South Africa
- Electricity Generating Authority of Thailand
- PetroVietnam Power Coal Import and Supply Company
- Chamber of Mines of South Africa
- Carbofer General Trading SA - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Marubeni Corporation - India
- McConnell Dowell - Australia
- MS Steel International - UAE
- Krishnapatnam Port Company Ltd. - India
- Banpu Public Company Limited - Thailand
- Petron Corporation, Philippines
- Tamil Nadu electricity Board
- Rashtriya Ispat Nigam Limited - India
- SN Aboitiz Power Inc, Philippines
- Borneo Indobara - Indonesia
- Indian Oil Corporation Limited
- Thiess Contractors Indonesia
- GN Power Mariveles Coal Plant, Philippines
- GVK Power & Infra Limited - India
- Gujarat Sidhee Cement - India
- Timah Investasi Mineral - Indoneisa
- Manunggal Multi Energi - Indonesia
- Parliament of New Zealand
- International Coal Ventures Pvt Ltd - India
- Wood Mackenzie - Singapore
- Goldman Sachs - Singapore
- Bhushan Steel Limited - India
- Kapuas Tunggal Persada - Indonesia
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