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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, 02 September 16
EIA FORECASTS U.S. COAL EXPORTS TO DECLINE BY 19 MMST IN 2016 TO 55 MMST
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.3 million sho ...
Thursday, 01 September 16
SUPRAMAX GETTING LEVELS OF MID/HIGHER 7K DELIVERY SINGAPORE FOR TRIPS TO CHINA AND AROUND 9K FOR DIRECTION INDIA - FEARNLEYS
Supramax
This week started slower with London on bank holiday Monday. The south east Asian market seems to have been taking a breather with chart ...
Thursday, 01 September 16
AUSTRALIA'S NEWCASTLE PORT SHIPPED 2.33 PERCENT MORE COAL IN JULY
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port has shipped $AU 1.10 bill ...
Wednesday, 31 August 16
THE DRY BULK MARKET MANAGED TO FIND FURTHER SUPPORT DURING THE LAST DAYS OF THE SUMMER SEASON - INTERMODAL
The Dry Bulk market managed to find further support during the last days of the summer season, with the BDI climbing above 700 last Friday, reachin ...
Tuesday, 30 August 16
THE SUDDEN SURGE IN IRON ORE TRADE HAS CREPT UP ON THE MARKET THIS PAST WEEK - GEORGE LAZARIDIS
The sudden surge in Iron ore trade has crept up on the market this past week bringing about a change in the prospects for Capes. Continued increase ...
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- IHS Mccloskey Coal Group - USA
- Banpu Public Company Limited - Thailand
- Meenaskhi Energy Private Limited - India
- Formosa Plastics Group - Taiwan
- Edison Trading Spa - Italy
- Attock Cement Pakistan Limited
- Salva Resources Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Chettinad Cement Corporation Ltd - India
- Maheswari Brothers Coal Limited - India
- Ceylon Electricity Board - Sri Lanka
- Coal and Oil Company - UAE
- Indogreen Group - Indonesia
- Ministry of Transport, Egypt
- Sojitz Corporation - Japan
- India Bulls Power Limited - India
- McConnell Dowell - Australia
- Eastern Energy - Thailand
- Power Finance Corporation Ltd., India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Carbofer General Trading SA - India
- Electricity Generating Authority of Thailand
- SMC Global Power, Philippines
- Sarangani Energy Corporation, Philippines
- Central Java Power - Indonesia
- Interocean Group of Companies - India
- Gujarat Mineral Development Corp Ltd - India
- Bukit Makmur.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Sical Logistics Limited - India
- Ambuja Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- Madhucon Powers Ltd - India
- International Coal Ventures Pvt Ltd - India
- Indian Oil Corporation Limited
- Romanian Commodities Exchange
- PNOC Exploration Corporation - Philippines
- Economic Council, Georgia
- Georgia Ports Authority, United States
- Global Coal Blending Company Limited - Australia
- Mjunction Services Limited - India
- Borneo Indobara - Indonesia
- Rio Tinto Coal - Australia
- SN Aboitiz Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Parliament of New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Anglo American - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- IEA Clean Coal Centre - UK
- Australian Commodity Traders Exchange
- The State Trading Corporation of India Ltd
- Medco Energi Mining Internasional
- Meralco Power Generation, Philippines
- South Luzon Thermal Energy Corporation
- Commonwealth Bank - Australia
- Essar Steel Hazira Ltd - India
- Uttam Galva Steels Limited - India
- Thiess Contractors Indonesia
- Standard Chartered Bank - UAE
- Larsen & Toubro Limited - India
- Cement Manufacturers Association - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Savvy Resources Ltd - HongKong
- Ministry of Finance - Indonesia
- Makarim & Taira - Indonesia
- Grasim Industreis Ltd - India
- SMG Consultants - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Jaiprakash Power Ventures ltd
- Pendopo Energi Batubara - Indonesia
- CNBM International Corporation - China
- Posco Energy - South Korea
- Australian Coal Association
- Alfred C Toepfer International GmbH - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coastal Gujarat Power Limited - India
- Bharathi Cement Corporation - India
- Star Paper Mills Limited - India
- Bhushan Steel Limited - India
- Siam City Cement - Thailand
- Globalindo Alam Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Central Electricity Authority - India
- Miang Besar Coal Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Ind-Barath Power Infra Limited - India
- Bhoruka Overseas - Indonesia
- New Zealand Coal & Carbon
- Africa Commodities Group - South Africa
- ICICI Bank Limited - India
- Dalmia Cement Bharat India
- The Treasury - Australian Government
- Semirara Mining and Power Corporation, Philippines
- Ministry of Mines - Canada
- Global Business Power Corporation, Philippines
- Eastern Coal Council - USA
- LBH Netherlands Bv - Netherlands
- Samtan Co., Ltd - South Korea
- London Commodity Brokers - England
- Aditya Birla Group - India
- Heidelberg Cement - Germany
- Independent Power Producers Association of India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rashtriya Ispat Nigam Limited - India
- Vizag Seaport Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Vedanta Resources Plc - India
- Kideco Jaya Agung - Indonesia
- Goldman Sachs - Singapore
- Bukit Baiduri Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- PTC India Limited - India
- Port Waratah Coal Services - Australia
- Gujarat Sidhee Cement - India
- Indian Energy Exchange, India
- Latin American Coal - Colombia
- PowerSource Philippines DevCo
- Malabar Cements Ltd - India
- Bangladesh Power Developement Board
- Wood Mackenzie - Singapore
- Energy Link Ltd, New Zealand
- Trasteel International SA, Italy
- CIMB Investment Bank - Malaysia
- Global Green Power PLC Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Merrill Lynch Commodities Europe
- Siam City Cement PLC, Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The University of Queensland
- Karbindo Abesyapradhi - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Renaissance Capital - South Africa
- GN Power Mariveles Coal Plant, Philippines
- White Energy Company Limited
- Sree Jayajothi Cements Limited - India
- Gujarat Electricity Regulatory Commission - India
- Deloitte Consulting - India
- Directorate Of Revenue Intelligence - India
- Kohat Cement Company Ltd. - Pakistan
- Singapore Mercantile Exchange
- GVK Power & Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Agrawal Coal Company - India
- Parry Sugars Refinery, India
- Kartika Selabumi Mining - Indonesia
- Orica Australia Pty. Ltd.
- Billiton Holdings Pty Ltd - Australia
- Videocon Industries ltd - India
- Semirara Mining Corp, Philippines
- TeaM Sual Corporation - Philippines
- Lanco Infratech Ltd - India
- Orica Mining Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- Mintek Dendrill Indonesia
- Sakthi Sugars Limited - India
- Minerals Council of Australia
- Therma Luzon, Inc, Philippines
- Oldendorff Carriers - Singapore
- Kumho Petrochemical, South Korea
- Toyota Tsusho Corporation, Japan
- Electricity Authority, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- OPG Power Generation Pvt Ltd - India
- Indonesian Coal Mining Association
- GMR Energy Limited - India
- Altura Mining Limited, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- MS Steel International - UAE
- Baramulti Group, Indonesia
- Kepco SPC Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Xindia Steels Limited - India
- Energy Development Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Intertek Mineral Services - Indonesia
- Jindal Steel & Power Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Iligan Light & Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Mercuria Energy - Indonesia
- Marubeni Corporation - India
- Barasentosa Lestari - Indonesia
- Bhatia International Limited - India
- VISA Power Limited - India
- Tamil Nadu electricity Board
- Kalimantan Lumbung Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- ASAPP Information Group - India
- Tata Chemicals Ltd - India
- Mercator Lines Limited - India
- Petron Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Thai Mozambique Logistica
- Wilmar Investment Holdings
- Chamber of Mines of South Africa
- Straits Asia Resources Limited - Singapore
- GAC Shipping (India) Pvt Ltd
- Planning Commission, India
- Holcim Trading Pte Ltd - Singapore
- Metalloyd Limited - United Kingdom
- Antam Resourcindo - Indonesia
- Coalindo Energy - Indonesia
- Sindya Power Generating Company Private Ltd
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