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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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Tuesday, 06 September 16
INDO GOVT. SETS SEPTEMBER COAL REFERENCE PRICE AT US$ 63.93 PER TON; JUMP 20.17% YTD
COALspot.com: The Indonesia coal benchmark price hits to its highest level since April 2015. The government declared benchmark prices f ...
Tuesday, 06 September 16
CAPESIZE: THE PACIFIC BASIN WAS THE MAIN REGION KEEPING UP WITH THE POSITIVE SUPPORT - ALLIED
Capesize
Despite some mixed feelings being seen early on in the week, we managed to see a positive week-on-week close on Friday with some positiv ...
Monday, 05 September 16
INDIA BECAME ADARO'S SECOND LARGEST MARKET IN 1H' 16
COALspot.com: The Wara Balangan blend product has been well received by customers in China and India - AI
In the second quarter of 2 ...
Monday, 05 September 16
POOR FREIGHT RATES DESPITE STRONG DEMAND GROWTH FROM CHINA - BIMCO
Demand
The dry bulk commodity imports into and exports out of China we have seen in the first half of 2016 are very positive – and nothing ...
Monday, 05 September 16
FREIGHT RATE FROM INDONESIA TO INDIA IS EXPECTED TO BE FLAT TO SOFT THIS WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose and ending in a positive note this past week except ...
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- Electricity Generating Authority of Thailand
- Samtan Co., Ltd - South Korea
- PNOC Exploration Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Wood Mackenzie - Singapore
- Heidelberg Cement - Germany
- International Coal Ventures Pvt Ltd - India
- Ministry of Finance - Indonesia
- Siam City Cement - Thailand
- Star Paper Mills Limited - India
- Eastern Coal Council - USA
- Eastern Energy - Thailand
- Uttam Galva Steels Limited - India
- Mintek Dendrill Indonesia
- Central Electricity Authority - India
- Jaiprakash Power Ventures ltd
- Grasim Industreis Ltd - India
- Thiess Contractors Indonesia
- Oldendorff Carriers - Singapore
- Madhucon Powers Ltd - India
- IEA Clean Coal Centre - UK
- Manunggal Multi Energi - Indonesia
- Bhatia International Limited - India
- Indo Tambangraya Megah - Indonesia
- New Zealand Coal & Carbon
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement PLC, Thailand
- Renaissance Capital - South Africa
- White Energy Company Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate Of Revenue Intelligence - India
- The University of Queensland
- Merrill Lynch Commodities Europe
- IHS Mccloskey Coal Group - USA
- Leighton Contractors Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- ASAPP Information Group - India
- Mercator Lines Limited - India
- Minerals Council of Australia
- Interocean Group of Companies - India
- Indika Energy - Indonesia
- PowerSource Philippines DevCo
- Georgia Ports Authority, United States
- Coastal Gujarat Power Limited - India
- Edison Trading Spa - Italy
- Bhoruka Overseas - Indonesia
- Economic Council, Georgia
- San Jose City I Power Corp, Philippines
- CNBM International Corporation - China
- Australian Commodity Traders Exchange
- European Bulk Services B.V. - Netherlands
- Bukit Baiduri Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Independent Power Producers Association of India
- Ministry of Transport, Egypt
- Kumho Petrochemical, South Korea
- Cement Manufacturers Association - India
- Global Coal Blending Company Limited - Australia
- TeaM Sual Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Global Green Power PLC Corporation, Philippines
- Sakthi Sugars Limited - India
- Kapuas Tunggal Persada - Indonesia
- Orica Australia Pty. Ltd.
- Larsen & Toubro Limited - India
- Bulk Trading Sa - Switzerland
- Port Waratah Coal Services - Australia
- Orica Mining Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Marubeni Corporation - India
- Videocon Industries ltd - India
- Price Waterhouse Coopers - Russia
- Savvy Resources Ltd - HongKong
- Rio Tinto Coal - Australia
- PetroVietnam Power Coal Import and Supply Company
- McConnell Dowell - Australia
- GMR Energy Limited - India
- SMG Consultants - Indonesia
- Australian Coal Association
- Riau Bara Harum - Indonesia
- Kartika Selabumi Mining - Indonesia
- Romanian Commodities Exchange
- Medco Energi Mining Internasional
- London Commodity Brokers - England
- Pendopo Energi Batubara - Indonesia
- Baramulti Group, Indonesia
- Binh Thuan Hamico - Vietnam
- Cigading International Bulk Terminal - Indonesia
- Dalmia Cement Bharat India
- Semirara Mining and Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Africa Commodities Group - South Africa
- Bukit Makmur.PT - Indonesia
- Jindal Steel & Power Ltd - India
- Sical Logistics Limited - India
- Commonwealth Bank - Australia
- Ministry of Mines - Canada
- Billiton Holdings Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Antam Resourcindo - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Therma Luzon, Inc, Philippines
- Aditya Birla Group - India
- Tata Chemicals Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Sinarmas Energy and Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Vedanta Resources Plc - India
- Thai Mozambique Logistica
- Posco Energy - South Korea
- Mjunction Services Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- SMC Global Power, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- MS Steel International - UAE
- Aboitiz Power Corporation - Philippines
- Makarim & Taira - Indonesia
- Bangladesh Power Developement Board
- Banpu Public Company Limited - Thailand
- Indian Energy Exchange, India
- Singapore Mercantile Exchange
- Standard Chartered Bank - UAE
- Indogreen Group - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Indian Oil Corporation Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Bhushan Steel Limited - India
- Straits Asia Resources Limited - Singapore
- Energy Development Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Directorate General of MIneral and Coal - Indonesia
- The Treasury - Australian Government
- Xindia Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Neyveli Lignite Corporation Ltd, - India
- Agrawal Coal Company - India
- Electricity Authority, New Zealand
- Kideco Jaya Agung - Indonesia
- Essar Steel Hazira Ltd - India
- Anglo American - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Coalindo Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Kepco SPC Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Sidhee Cement - India
- PTC India Limited - India
- Sindya Power Generating Company Private Ltd
- Barasentosa Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- GVK Power & Infra Limited - India
- Parry Sugars Refinery, India
- OPG Power Generation Pvt Ltd - India
- Indonesian Coal Mining Association
- Bayan Resources Tbk. - Indonesia
- Mercuria Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Rashtriya Ispat Nigam Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Link Ltd, New Zealand
- Metalloyd Limited - United Kingdom
- Carbofer General Trading SA - India
- Central Java Power - Indonesia
- India Bulls Power Limited - India
- The State Trading Corporation of India Ltd
- Deloitte Consulting - India
- Bharathi Cement Corporation - India
- Ambuja Cements Ltd - India
- ICICI Bank Limited - India
- Kobexindo Tractors - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- LBH Netherlands Bv - Netherlands
- Sree Jayajothi Cements Limited - India
- Vizag Seaport Private Limited - India
- Semirara Mining Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Global Business Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Borneo Indobara - Indonesia
- Malabar Cements Ltd - India
- Trasteel International SA, Italy
- Lanco Infratech Ltd - India
- Meralco Power Generation, Philippines
- Tamil Nadu electricity Board
- Asmin Koalindo Tuhup - Indonesia
- Coal and Oil Company - UAE
- Petron Corporation, Philippines
- Goldman Sachs - Singapore
- Parliament of New Zealand
- Power Finance Corporation Ltd., India
- Kohat Cement Company Ltd. - Pakistan
- Sojitz Corporation - Japan
- Simpson Spence & Young - Indonesia
- VISA Power Limited - India
- Altura Mining Limited, Indonesia
- Sarangani Energy Corporation, Philippines
- Latin American Coal - Colombia
- Wilmar Investment Holdings
- Planning Commission, India
- Intertek Mineral Services - Indonesia
- Maheswari Brothers Coal Limited - India
- Attock Cement Pakistan Limited
- SN Aboitiz Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- Chamber of Mines of South Africa
- Salva Resources Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
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