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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, 23 September 16
"COLLATERAL LIES" DO NOT NECESSARILY UNDERMINE AN INSURANCE CLAIM
KNOWLEDGE TO ELEVATE
An insured was not precluded from recovering under an insurance policy even though it had made a false statement during t ...
Friday, 23 September 16
EIA SEES U.S. COAL WEEKLY OUTPUT INCREASE
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.1 million short ton ...
Thursday, 22 September 16
CHINA IS THE PRICE-SETTING COUNTRY FOR GLOBAL THERMAL COAL
COALspot.com: China has been the driver of global coal growth since 2009. When China became the largest coal importer in 2011, the country also has ...
Thursday, 22 September 16
SUPRAMAXES ARE ACHIEVING AROUND $7000 FOR A TRIP WITH SINGAPORE DELIVERY VIA INDONESIA TO CHINA
Supramax
A slow start to the week in the Supramax segment in the Atlantic with not much being reported.
In the Blacksea Supramaxes are getti ...
Wednesday, 21 September 16
THE CAPESIZE MARKET HAS BEEN ON A RALLYING TREND SINCE THE END OF AUGUST - GEORGE LAZARIDIS
The Capesize market has been on a rallying trend since the end of August, fuelled mainly by the chase by traders to pre-stock before the typical pi ...
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- Thiess Contractors Indonesia
- McConnell Dowell - Australia
- OPG Power Generation Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Planning Commission, India
- Edison Trading Spa - Italy
- Salva Resources Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Mercuria Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Iligan Light & Power Inc, Philippines
- Mintek Dendrill Indonesia
- New Zealand Coal & Carbon
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- Marubeni Corporation - India
- Bhoruka Overseas - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- AsiaOL BioFuels Corp., Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Samtan Co., Ltd - South Korea
- Jindal Steel & Power Ltd - India
- Malabar Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- The Treasury - Australian Government
- Vizag Seaport Private Limited - India
- Coastal Gujarat Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Cement Manufacturers Association - India
- Semirara Mining Corp, Philippines
- GMR Energy Limited - India
- Gujarat Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Australian Coal Association
- Independent Power Producers Association of India
- CIMB Investment Bank - Malaysia
- Altura Mining Limited, Indonesia
- Energy Link Ltd, New Zealand
- Mercator Lines Limited - India
- Miang Besar Coal Terminal - Indonesia
- Carbofer General Trading SA - India
- Agrawal Coal Company - India
- Kepco SPC Power Corporation, Philippines
- PTC India Limited - India
- Simpson Spence & Young - Indonesia
- Semirara Mining and Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Offshore Bulk Terminal Pte Ltd, Singapore
- Neyveli Lignite Corporation Ltd, - India
- Formosa Plastics Group - Taiwan
- Ministry of Transport, Egypt
- Kobexindo Tractors - Indoneisa
- Tata Chemicals Ltd - India
- Kideco Jaya Agung - Indonesia
- Global Business Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Straits Asia Resources Limited - Singapore
- Therma Luzon, Inc, Philippines
- Mjunction Services Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Kaltim Prima Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Dalmia Cement Bharat India
- Bukit Makmur.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- GVK Power & Infra Limited - India
- Bangladesh Power Developement Board
- Star Paper Mills Limited - India
- Tamil Nadu electricity Board
- Thai Mozambique Logistica
- Energy Development Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Karbindo Abesyapradhi - Indoneisa
- Africa Commodities Group - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Indo Tambangraya Megah - Indonesia
- Petron Corporation, Philippines
- Savvy Resources Ltd - HongKong
- IEA Clean Coal Centre - UK
- Latin American Coal - Colombia
- Sree Jayajothi Cements Limited - India
- Aboitiz Power Corporation - Philippines
- London Commodity Brokers - England
- Sinarmas Energy and Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement - Thailand
- Trasteel International SA, Italy
- Barasentosa Lestari - Indonesia
- Vedanta Resources Plc - India
- Orica Australia Pty. Ltd.
- SN Aboitiz Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Uttam Galva Steels Limited - India
- Price Waterhouse Coopers - Russia
- Global Green Power PLC Corporation, Philippines
- Rio Tinto Coal - Australia
- Power Finance Corporation Ltd., India
- Maheswari Brothers Coal Limited - India
- Rashtriya Ispat Nigam Limited - India
- Central Electricity Authority - India
- GN Power Mariveles Coal Plant, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Parry Sugars Refinery, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Makarim & Taira - Indonesia
- Sical Logistics Limited - India
- Anglo American - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Grasim Industreis Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- SMC Global Power, Philippines
- Gujarat Sidhee Cement - India
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Finance - Indonesia
- TeaM Sual Corporation - Philippines
- Xindia Steels Limited - India
- Madhucon Powers Ltd - India
- Chamber of Mines of South Africa
- Sojitz Corporation - Japan
- Global Coal Blending Company Limited - Australia
- Directorate Of Revenue Intelligence - India
- Minerals Council of Australia
- Manunggal Multi Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Eastern Energy - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Renaissance Capital - South Africa
- Bukit Baiduri Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Indian Oil Corporation Limited
- Wilmar Investment Holdings
- Indonesian Coal Mining Association
- Toyota Tsusho Corporation, Japan
- Lanco Infratech Ltd - India
- CNBM International Corporation - China
- ASAPP Information Group - India
- Georgia Ports Authority, United States
- SMG Consultants - Indonesia
- Larsen & Toubro Limited - India
- Intertek Mineral Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Indogreen Group - Indonesia
- India Bulls Power Limited - India
- Merrill Lynch Commodities Europe
- Wood Mackenzie - Singapore
- Sindya Power Generating Company Private Ltd
- Globalindo Alam Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Deloitte Consulting - India
- Attock Cement Pakistan Limited
- Sakthi Sugars Limited - India
- VISA Power Limited - India
- ICICI Bank Limited - India
- The State Trading Corporation of India Ltd
- Bharathi Cement Corporation - India
- Ministry of Mines - Canada
- Meralco Power Generation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Baramulti Group, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhushan Steel Limited - India
- Singapore Mercantile Exchange
- Interocean Group of Companies - India
- The University of Queensland
- Heidelberg Cement - Germany
- Videocon Industries ltd - India
- Coalindo Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Standard Chartered Bank - UAE
- Siam City Cement PLC, Thailand
- San Jose City I Power Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- GAC Shipping (India) Pvt Ltd
- Borneo Indobara - Indonesia
- Kumho Petrochemical, South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Economic Council, Georgia
- Ambuja Cements Ltd - India
- Central Java Power - Indonesia
- Bhatia International Limited - India
- Karaikal Port Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Essar Steel Hazira Ltd - India
- PNOC Exploration Corporation - Philippines
- Banpu Public Company Limited - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Jaiprakash Power Ventures ltd
- Australian Commodity Traders Exchange
- Oldendorff Carriers - Singapore
- Aditya Birla Group - India
- Timah Investasi Mineral - Indoneisa
- Antam Resourcindo - Indonesia
- Coal and Oil Company - UAE
- Goldman Sachs - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PowerSource Philippines DevCo
- Parliament of New Zealand
- Commonwealth Bank - Australia
- White Energy Company Limited
- Romanian Commodities Exchange
- Electricity Generating Authority of Thailand
- Electricity Authority, New Zealand
- International Coal Ventures Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Eastern Coal Council - USA
- Medco Energi Mining Internasional
- Pendopo Energi Batubara - Indonesia
- Sarangani Energy Corporation, Philippines
- Indika Energy - Indonesia
- MS Steel International - UAE
- Bulk Trading Sa - Switzerland
- Port Waratah Coal Services - Australia
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