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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, 15 August 16
THE SPOT FREIGHT MARKET STRENGTHEN OVER THIS WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose as Cape and Panamax segments ending in a positive no ...
Friday, 12 August 16
U.S. WEEKLY COAL OUTPUT ENDING AUGUST 6 FELL SLIGHTLY
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.9 million short ton ...
Thursday, 11 August 16
CAPESIZE THE PACIFIC SIDE IS LOOKING MORE POSITIVE, DRIVEN BY AUSTRALIAN IRON ORE - FEARNLEYS
Supramax
Rates continue to be under pressure with index ending up with 639 points and average TC value at USD6,680, said Fearnleys. Fearnleys A/S ...
Thursday, 11 August 16
EIA ESTIMATES THE DELIVERED COAL PRICE TO U.S. ELECTRIC UTILITIES IN 2017 AVERAGED $2.24/MMBTU; $0.05/MMBTU HIGHER THAN 2016 ESTIMATES
Coal Supply
U.S. coal production in July was 65 million short tons (MMst), an 8 MMst (14%) increase from the previous month but 11 MMst (15%) low ...
Wednesday, 10 August 16
THE DRY BULK MARKET KEPT SOFTENING LAST WEEK; WE CAN SEE MUCH HEALTHIER NUMBERS STARTING SEPTEMBER
The Dry Bulk market kept softening last week as we have now started going through the traditionally quieter days of the summer season peak period, ...
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- Electricity Generating Authority of Thailand
- Bulk Trading Sa - Switzerland
- Makarim & Taira - Indonesia
- Meralco Power Generation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Altura Mining Limited, Indonesia
- Miang Besar Coal Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- ICICI Bank Limited - India
- Sical Logistics Limited - India
- White Energy Company Limited
- Kobexindo Tractors - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Port Waratah Coal Services - Australia
- Global Coal Blending Company Limited - Australia
- Karbindo Abesyapradhi - Indoneisa
- Binh Thuan Hamico - Vietnam
- Romanian Commodities Exchange
- Semirara Mining and Power Corporation, Philippines
- Indian Oil Corporation Limited
- Anglo American - United Kingdom
- Cement Manufacturers Association - India
- Grasim Industreis Ltd - India
- PNOC Exploration Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- LBH Netherlands Bv - Netherlands
- Mjunction Services Limited - India
- Pendopo Energi Batubara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kaltim Prima Coal - Indonesia
- Aditya Birla Group - India
- Orica Australia Pty. Ltd.
- Singapore Mercantile Exchange
- India Bulls Power Limited - India
- Indonesian Coal Mining Association
- Bangladesh Power Developement Board
- Thiess Contractors Indonesia
- Krishnapatnam Port Company Ltd. - India
- Thai Mozambique Logistica
- Gujarat Sidhee Cement - India
- Sojitz Corporation - Japan
- Xindia Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Tata Chemicals Ltd - India
- Indogreen Group - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vizag Seaport Private Limited - India
- Heidelberg Cement - Germany
- GMR Energy Limited - India
- Energy Development Corp, Philippines
- Coal and Oil Company - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining Corp, Philippines
- London Commodity Brokers - England
- Directorate General of MIneral and Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- Antam Resourcindo - Indonesia
- Larsen & Toubro Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Baramulti Group, Indonesia
- Bukit Baiduri Energy - Indonesia
- Commonwealth Bank - Australia
- Mercuria Energy - Indonesia
- Siam City Cement PLC, Thailand
- Central Java Power - Indonesia
- Kumho Petrochemical, South Korea
- Latin American Coal - Colombia
- Maharashtra Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- Goldman Sachs - Singapore
- Billiton Holdings Pty Ltd - Australia
- Indika Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Agrawal Coal Company - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Interocean Group of Companies - India
- Star Paper Mills Limited - India
- Eastern Energy - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Jindal Steel & Power Ltd - India
- Mintek Dendrill Indonesia
- Carbofer General Trading SA - India
- Timah Investasi Mineral - Indoneisa
- MS Steel International - UAE
- Lanco Infratech Ltd - India
- SN Aboitiz Power Inc, Philippines
- Videocon Industries ltd - India
- New Zealand Coal & Carbon
- Simpson Spence & Young - Indonesia
- Merrill Lynch Commodities Europe
- Cigading International Bulk Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kepco SPC Power Corporation, Philippines
- Posco Energy - South Korea
- Orica Mining Services - Indonesia
- Malabar Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- The University of Queensland
- Oldendorff Carriers - Singapore
- Gujarat Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Salva Resources Pvt Ltd - India
- Parliament of New Zealand
- Jaiprakash Power Ventures ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Global Business Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Manunggal Multi Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GVK Power & Infra Limited - India
- Electricity Authority, New Zealand
- Vedanta Resources Plc - India
- Economic Council, Georgia
- Indian Energy Exchange, India
- Barasentosa Lestari - Indonesia
- VISA Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Ministry of Mines - Canada
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parry Sugars Refinery, India
- San Jose City I Power Corp, Philippines
- McConnell Dowell - Australia
- Global Green Power PLC Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- Trasteel International SA, Italy
- Sarangani Energy Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Intertek Mineral Services - Indonesia
- Dalmia Cement Bharat India
- Minerals Council of Australia
- Kideco Jaya Agung - Indonesia
- Toyota Tsusho Corporation, Japan
- Sree Jayajothi Cements Limited - India
- Karaikal Port Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Georgia Ports Authority, United States
- Eastern Coal Council - USA
- IHS Mccloskey Coal Group - USA
- Energy Link Ltd, New Zealand
- International Coal Ventures Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Siam City Cement - Thailand
- Directorate Of Revenue Intelligence - India
- Power Finance Corporation Ltd., India
- SMG Consultants - Indonesia
- Kartika Selabumi Mining - Indonesia
- Petron Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- PTC India Limited - India
- Alfred C Toepfer International GmbH - Germany
- Attock Cement Pakistan Limited
- Straits Asia Resources Limited - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Banpu Public Company Limited - Thailand
- Coastal Gujarat Power Limited - India
- European Bulk Services B.V. - Netherlands
- Planning Commission, India
- Bhushan Steel Limited - India
- Independent Power Producers Association of India
- Tamil Nadu electricity Board
- Africa Commodities Group - South Africa
- Meenaskhi Energy Private Limited - India
- Globalindo Alam Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Essar Steel Hazira Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Riau Bara Harum - Indonesia
- Marubeni Corporation - India
- Australian Coal Association
- Bharathi Cement Corporation - India
- Ministry of Finance - Indonesia
- South Luzon Thermal Energy Corporation
- Asmin Koalindo Tuhup - Indonesia
- Edison Trading Spa - Italy
- Iligan Light & Power Inc, Philippines
- Sakthi Sugars Limited - India
- ASAPP Information Group - India
- IEA Clean Coal Centre - UK
- The State Trading Corporation of India Ltd
- Madhucon Powers Ltd - India
- Ministry of Transport, Egypt
- CNBM International Corporation - China
- Aboitiz Power Corporation - Philippines
- PowerSource Philippines DevCo
- Bank of Tokyo Mitsubishi UFJ Ltd
- Medco Energi Mining Internasional
- Rio Tinto Coal - Australia
- Wood Mackenzie - Singapore
- The Treasury - Australian Government
- Wilmar Investment Holdings
- Central Electricity Authority - India
- Leighton Contractors Pty Ltd - Australia
- Bhatia International Limited - India
- Coalindo Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Australian Commodity Traders Exchange
- Uttam Galva Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chamber of Mines of South Africa
- Savvy Resources Ltd - HongKong
- SMC Global Power, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Price Waterhouse Coopers - Russia
- Deloitte Consulting - India
- Standard Chartered Bank - UAE
- Jorong Barutama Greston.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Mercator Lines Limited - India
- Renaissance Capital - South Africa
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