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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, 25 July 16
STRONG BUYER DEMAND PUSHING UP INDONESIAN THERMAL COAL INDICES
COALspot.com: Average 5000 GAR coal index of Indonesian origin rose 0.73 percent week over week to averaging $40.83 per ton this past week, shows C ...
Monday, 25 July 16
THE BDI FELL ON WEAKER RATES FOR CAPESIZE & PANAMAX VESSELS
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities slide slightly as Cape and Panamax segments ending in neg ...
Friday, 22 July 16
U.S COAL OUTPUT ROSE 17.2% WEEK OVER WEEK - EIA
COALspot.com – U.S, world’s second largest coal producers has produced approximately totalled an estimated 15.1 million short tons (mms ...
Thursday, 21 July 16
WHAT TO DO WHEN YOU DON'T GET PAID - SHIPOWNERS CLUB
Present market conditions have led to an increase in claims related to unpaid hire. To recover unpaid hire, Owners need to fully understand who the ...
Thursday, 21 July 16
CONSTRUCTIVE TOTAL LOSS: WHAT GOES IN TO CALCULATING QUANTUM? - HILL DICKINSON
KNOWLEDGE TO ELEVATE
The Commercial Court recently delivered its judgment in an important case (Connect Shipping Inc and Machrimar Management ...
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- London Commodity Brokers - England
- Altura Mining Limited, Indonesia
- VISA Power Limited - India
- Standard Chartered Bank - UAE
- Electricity Authority, New Zealand
- Timah Investasi Mineral - Indoneisa
- White Energy Company Limited
- Bahari Cakrawala Sebuku - Indonesia
- Chettinad Cement Corporation Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Generating Authority of Thailand
- PetroVietnam Power Coal Import and Supply Company
- Ambuja Cements Ltd - India
- Baramulti Group, Indonesia
- Banpu Public Company Limited - Thailand
- Gujarat Mineral Development Corp Ltd - India
- India Bulls Power Limited - India
- Anglo American - United Kingdom
- PowerSource Philippines DevCo
- Latin American Coal - Colombia
- Jindal Steel & Power Ltd - India
- Coastal Gujarat Power Limited - India
- Coalindo Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Binh Thuan Hamico - Vietnam
- Global Coal Blending Company Limited - Australia
- Antam Resourcindo - Indonesia
- Makarim & Taira - Indonesia
- Attock Cement Pakistan Limited
- IHS Mccloskey Coal Group - USA
- Kepco SPC Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- CIMB Investment Bank - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Energy Link Ltd, New Zealand
- Bayan Resources Tbk. - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Bhoruka Overseas - Indonesia
- Power Finance Corporation Ltd., India
- Kartika Selabumi Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- ICICI Bank Limited - India
- Holcim Trading Pte Ltd - Singapore
- Salva Resources Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Manunggal Multi Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Eastern Energy - Thailand
- Aditya Birla Group - India
- Bhushan Steel Limited - India
- Cigading International Bulk Terminal - Indonesia
- Planning Commission, India
- Oldendorff Carriers - Singapore
- Maheswari Brothers Coal Limited - India
- ASAPP Information Group - India
- Meenaskhi Energy Private Limited - India
- Pendopo Energi Batubara - Indonesia
- Barasentosa Lestari - Indonesia
- Heidelberg Cement - Germany
- Madhucon Powers Ltd - India
- Samtan Co., Ltd - South Korea
- The Treasury - Australian Government
- Uttam Galva Steels Limited - India
- Ind-Barath Power Infra Limited - India
- Star Paper Mills Limited - India
- Alfred C Toepfer International GmbH - Germany
- Leighton Contractors Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indika Energy - Indonesia
- Georgia Ports Authority, United States
- Renaissance Capital - South Africa
- Siam City Cement PLC, Thailand
- Agrawal Coal Company - India
- New Zealand Coal & Carbon
- Intertek Mineral Services - Indonesia
- Kobexindo Tractors - Indoneisa
- Cement Manufacturers Association - India
- Parry Sugars Refinery, India
- Mintek Dendrill Indonesia
- Xindia Steels Limited - India
- Indonesian Coal Mining Association
- Kohat Cement Company Ltd. - Pakistan
- Sakthi Sugars Limited - India
- Goldman Sachs - Singapore
- Singapore Mercantile Exchange
- Globalindo Alam Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Energy Exchange, India
- Thiess Contractors Indonesia
- Siam City Cement - Thailand
- Wilmar Investment Holdings
- Thai Mozambique Logistica
- Ministry of Mines - Canada
- Bulk Trading Sa - Switzerland
- Mercuria Energy - Indonesia
- Independent Power Producers Association of India
- Formosa Plastics Group - Taiwan
- Eastern Coal Council - USA
- Bharathi Cement Corporation - India
- Jaiprakash Power Ventures ltd
- Sree Jayajothi Cements Limited - India
- Straits Asia Resources Limited - Singapore
- Vedanta Resources Plc - India
- Kapuas Tunggal Persada - Indonesia
- Parliament of New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Bhatia International Limited - India
- Orica Mining Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Posco Energy - South Korea
- Price Waterhouse Coopers - Russia
- Billiton Holdings Pty Ltd - Australia
- Indian Oil Corporation Limited
- Maharashtra Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Lanco Infratech Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Larsen & Toubro Limited - India
- International Coal Ventures Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Sojitz Corporation - Japan
- Bangladesh Power Developement Board
- Carbofer General Trading SA - India
- Edison Trading Spa - Italy
- San Jose City I Power Corp, Philippines
- Africa Commodities Group - South Africa
- Medco Energi Mining Internasional
- South Luzon Thermal Energy Corporation
- Sical Logistics Limited - India
- Economic Council, Georgia
- Chamber of Mines of South Africa
- GAC Shipping (India) Pvt Ltd
- PNOC Exploration Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Indogreen Group - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PTC India Limited - India
- Wood Mackenzie - Singapore
- IEA Clean Coal Centre - UK
- GMR Energy Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Rio Tinto Coal - Australia
- Ministry of Finance - Indonesia
- Australian Commodity Traders Exchange
- Kumho Petrochemical, South Korea
- Kaltim Prima Coal - Indonesia
- Meralco Power Generation, Philippines
- Port Waratah Coal Services - Australia
- Aboitiz Power Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Global Business Power Corporation, Philippines
- Videocon Industries ltd - India
- Iligan Light & Power Inc, Philippines
- Dalmia Cement Bharat India
- Global Green Power PLC Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Minerals Council of Australia
- Ministry of Transport, Egypt
- Savvy Resources Ltd - HongKong
- Mjunction Services Limited - India
- Krishnapatnam Port Company Ltd. - India
- OPG Power Generation Pvt Ltd - India
- Central Electricity Authority - India
- The University of Queensland
- Riau Bara Harum - Indonesia
- Commonwealth Bank - Australia
- The State Trading Corporation of India Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Coal and Oil Company - UAE
- Gujarat Sidhee Cement - India
- Rashtriya Ispat Nigam Limited - India
- European Bulk Services B.V. - Netherlands
- Simpson Spence & Young - Indonesia
- CNBM International Corporation - China
- TeaM Sual Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Romanian Commodities Exchange
- GVK Power & Infra Limited - India
- Energy Development Corp, Philippines
- Tamil Nadu electricity Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercator Lines Limited - India
- Grasim Industreis Ltd - India
- Merrill Lynch Commodities Europe
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Borneo Indobara - Indonesia
- Deloitte Consulting - India
- Tata Chemicals Ltd - India
- Sindya Power Generating Company Private Ltd
- Australian Coal Association
- Bukit Makmur.PT - Indonesia
- Trasteel International SA, Italy
- MS Steel International - UAE
- Malabar Cements Ltd - India
- McConnell Dowell - Australia
- Sinarmas Energy and Mining - Indonesia
- Petron Corporation, Philippines
- Central Java Power - Indonesia
- Vizag Seaport Private Limited - India
- Orica Australia Pty. Ltd.
- Metalloyd Limited - United Kingdom
- Sarangani Energy Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Essar Steel Hazira Ltd - India
- SMC Global Power, Philippines
- SMG Consultants - Indonesia
- Interocean Group of Companies - India
- Kalimantan Lumbung Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
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