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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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Monday, 12 September 16
THE CAPE MARKET HAS GAINS ON WEEK; THE CAPE INDEX SETTLING AT 1566 POINTS ON FRIDAY
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose and ending in a positive note this past week. The BD ...
Friday, 09 September 16
U.S. WEEKLY COAL OUTPUT DECLINED SLIGHTLY TO 16.1 MMST, EIA SAYS
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.1 million short ton ...
Friday, 09 September 16
CAPESIZE: THE SENTIMENT IS SOLID, SAYS FEARNLEYS
Supramax
A quiet start with Labour Day celebrations in the United States leading to very little being reported from the Atlantic basin. Supramaxe ...
Thursday, 08 September 16
U.S. COAL EXPORTS IN JUNE 2016 UP 29% COMPARED TO MAY 2016, SAYS EIA
U.S. coal production in August was 71 million short tons (MMst), which is 6 MMst (9%) higher than in the previous month and 12 MMst (14%) lower tha ...
Wednesday, 07 September 16
WEEKLY MARKET (TANKER) REPORT - INTERMODAL
What goes around comes around! The Shipping industry is infamous for its seasonality and cyclicality and the tanker sector is no exception to these ...
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- Wood Mackenzie - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Merrill Lynch Commodities Europe
- Makarim & Taira - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Thiess Contractors Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Heidelberg Cement - Germany
- Formosa Plastics Group - Taiwan
- Bulk Trading Sa - Switzerland
- Maheswari Brothers Coal Limited - India
- Sinarmas Energy and Mining - Indonesia
- Chamber of Mines of South Africa
- Edison Trading Spa - Italy
- Deloitte Consulting - India
- Directorate General of MIneral and Coal - Indonesia
- Central Electricity Authority - India
- TeaM Sual Corporation - Philippines
- Jindal Steel & Power Ltd - India
- MS Steel International - UAE
- Energy Development Corp, Philippines
- CIMB Investment Bank - Malaysia
- Electricity Generating Authority of Thailand
- Medco Energi Mining Internasional
- Bukit Baiduri Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Antam Resourcindo - Indonesia
- Ambuja Cements Ltd - India
- GMR Energy Limited - India
- Port Waratah Coal Services - Australia
- CNBM International Corporation - China
- New Zealand Coal & Carbon
- Altura Mining Limited, Indonesia
- Chettinad Cement Corporation Ltd - India
- SN Aboitiz Power Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Renaissance Capital - South Africa
- Xindia Steels Limited - India
- Ministry of Finance - Indonesia
- Central Java Power - Indonesia
- Savvy Resources Ltd - HongKong
- Binh Thuan Hamico - Vietnam
- Essar Steel Hazira Ltd - India
- Price Waterhouse Coopers - Russia
- Leighton Contractors Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- South Luzon Thermal Energy Corporation
- PowerSource Philippines DevCo
- Latin American Coal - Colombia
- Australian Commodity Traders Exchange
- Karaikal Port Pvt Ltd - India
- Eastern Coal Council - USA
- Gujarat Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- Indo Tambangraya Megah - Indonesia
- Interocean Group of Companies - India
- Pendopo Energi Batubara - Indonesia
- ASAPP Information Group - India
- Ceylon Electricity Board - Sri Lanka
- Offshore Bulk Terminal Pte Ltd, Singapore
- Intertek Mineral Services - Indonesia
- Indonesian Coal Mining Association
- The State Trading Corporation of India Ltd
- Borneo Indobara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parry Sugars Refinery, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Banpu Public Company Limited - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Sidhee Cement - India
- Miang Besar Coal Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Metalloyd Limited - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Posco Energy - South Korea
- Straits Asia Resources Limited - Singapore
- SMC Global Power, Philippines
- Ministry of Mines - Canada
- OPG Power Generation Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Indogreen Group - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Ministry of Transport, Egypt
- Timah Investasi Mineral - Indoneisa
- Anglo American - United Kingdom
- Meralco Power Generation, Philippines
- Coalindo Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- PTC India Limited - India
- ICICI Bank Limited - India
- Grasim Industreis Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Wilmar Investment Holdings
- Kepco SPC Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Sojitz Corporation - Japan
- Standard Chartered Bank - UAE
- Economic Council, Georgia
- Tamil Nadu electricity Board
- Sakthi Sugars Limited - India
- GAC Shipping (India) Pvt Ltd
- Manunggal Multi Energi - Indonesia
- Romanian Commodities Exchange
- Goldman Sachs - Singapore
- Energy Link Ltd, New Zealand
- Ind-Barath Power Infra Limited - India
- Sree Jayajothi Cements Limited - India
- Directorate Of Revenue Intelligence - India
- Barasentosa Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- IHS Mccloskey Coal Group - USA
- Bukit Makmur.PT - Indonesia
- Electricity Authority, New Zealand
- European Bulk Services B.V. - Netherlands
- Trasteel International SA, Italy
- Mercuria Energy - Indonesia
- The University of Queensland
- Vedanta Resources Plc - India
- Riau Bara Harum - Indonesia
- Aboitiz Power Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Rio Tinto Coal - Australia
- Mintek Dendrill Indonesia
- Cement Manufacturers Association - India
- Kumho Petrochemical, South Korea
- Dalmia Cement Bharat India
- Africa Commodities Group - South Africa
- International Coal Ventures Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Kartika Selabumi Mining - Indonesia
- Therma Luzon, Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Meenaskhi Energy Private Limited - India
- McConnell Dowell - Australia
- Madhucon Powers Ltd - India
- Lanco Infratech Ltd - India
- Uttam Galva Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Indian Oil Corporation Limited
- Siam City Cement - Thailand
- Semirara Mining Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Cigading International Bulk Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Oldendorff Carriers - Singapore
- Minerals Council of Australia
- Aditya Birla Group - India
- Mjunction Services Limited - India
- Eastern Energy - Thailand
- White Energy Company Limited
- Orica Australia Pty. Ltd.
- Singapore Mercantile Exchange
- Gujarat Mineral Development Corp Ltd - India
- GVK Power & Infra Limited - India
- Bhoruka Overseas - Indonesia
- Bayan Resources Tbk. - Indonesia
- Siam City Cement PLC, Thailand
- Thai Mozambique Logistica
- Simpson Spence & Young - Indonesia
- Coastal Gujarat Power Limited - India
- Coal and Oil Company - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- PNOC Exploration Corporation - Philippines
- Independent Power Producers Association of India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- Petron Corporation, Philippines
- Vizag Seaport Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Parliament of New Zealand
- Australian Coal Association
- London Commodity Brokers - England
- Kalimantan Lumbung Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Georgia Ports Authority, United States
- Carbofer General Trading SA - India
- Tata Chemicals Ltd - India
- Sarangani Energy Corporation, Philippines
- Planning Commission, India
- Kapuas Tunggal Persada - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- San Jose City I Power Corp, Philippines
- Bhatia International Limited - India
- Salva Resources Pvt Ltd - India
- Indika Energy - Indonesia
- Marubeni Corporation - India
- Power Finance Corporation Ltd., India
- Bharathi Cement Corporation - India
- VISA Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Krishnapatnam Port Company Ltd. - India
- IEA Clean Coal Centre - UK
- The Treasury - Australian Government
- Videocon Industries ltd - India
- Sindya Power Generating Company Private Ltd
- Indian Energy Exchange, India
- Star Paper Mills Limited - India
- SMG Consultants - Indonesia
- Kideco Jaya Agung - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Sical Logistics Limited - India
- Global Business Power Corporation, Philippines
- Bangladesh Power Developement Board
- Mercator Lines Limited - India
- Bhushan Steel Limited - India
- Attock Cement Pakistan Limited
- Commonwealth Bank - Australia
- Malabar Cements Ltd - India
- Baramulti Group, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Agrawal Coal Company - India
- India Bulls Power Limited - India
- Orica Mining Services - Indonesia
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