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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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Thursday, 14 July 16
SHIPPING'S HALF YEAR REPORT - 'MUST DO BETTER' - CLARKSONS
It’s the time of year, with the school holidays and end of term approaching, that many pupils will nervously take home their school reports t ...
Wednesday, 13 July 16
EIA FORECASTS U.S. COAL EXPORTS TO DECLINE BY 15 MMST IN 2016 AND BY 4 MMST IN 2017
COALspot.com: U.S. coal production in June was 57 million short tons (MMst), a 6 MMst (13%) increase from May and 9 MMst (14%) lower than in June 2 ...
Wednesday, 13 July 16
2015 VS. 2016; THE DRY BULK DEMOLITION DERBY - JOHN N. COTZIAS
In the first half of the year 373 Bulkers and General Cargo ships were scrapped representing 23.8mil tons of dwt carrying capacity.
Comparing ...
Tuesday, 12 July 16
DUE TO LONG HOLIDAYS, CS COAL INDICES HELD AT THE SAME LEVEL OF THE PREVIOUS WEEK
COALspot.com: Average 5000 GAR coal index of Indonesian origin was flat week over week to averaging $39.98 per ton this past week.
Due to the ...
Monday, 11 July 16
COAL MARKETS SAW IMPROVED PRICES IN H1 2016 - SGX'S COMMODITIES MID-YEAR REFLECTION
COALspot.com: Coal
Coal markets saw improved prices in H1 2016 with the benchmark coking coal and thermal coal spot prices rising 18% and 25%, re ...
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- Meralco Power Generation, Philippines
- Ambuja Cements Ltd - India
- Bhatia International Limited - India
- Orica Australia Pty. Ltd.
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Latin American Coal - Colombia
- PetroVietnam Power Coal Import and Supply Company
- Energy Development Corp, Philippines
- Wilmar Investment Holdings
- Barasentosa Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kaltim Prima Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Orica Mining Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- IEA Clean Coal Centre - UK
- Australian Commodity Traders Exchange
- Ministry of Mines - Canada
- Africa Commodities Group - South Africa
- Malabar Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Chamber of Mines of South Africa
- Siam City Cement PLC, Thailand
- Independent Power Producers Association of India
- Oldendorff Carriers - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- MS Steel International - UAE
- LBH Netherlands Bv - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Attock Cement Pakistan Limited
- Sinarmas Energy and Mining - Indonesia
- GVK Power & Infra Limited - India
- Therma Luzon, Inc, Philippines
- Simpson Spence & Young - Indonesia
- Sindya Power Generating Company Private Ltd
- Petron Corporation, Philippines
- Siam City Cement - Thailand
- Carbofer General Trading SA - India
- Singapore Mercantile Exchange
- Indian Oil Corporation Limited
- Kapuas Tunggal Persada - Indonesia
- Pendopo Energi Batubara - Indonesia
- Rio Tinto Coal - Australia
- Edison Trading Spa - Italy
- GN Power Mariveles Coal Plant, Philippines
- Eastern Coal Council - USA
- Metalloyd Limited - United Kingdom
- Larsen & Toubro Limited - India
- Bhoruka Overseas - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining and Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Planning Commission, India
- Georgia Ports Authority, United States
- PTC India Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Medco Energi Mining Internasional
- Dalmia Cement Bharat India
- Central Electricity Authority - India
- Meenaskhi Energy Private Limited - India
- Interocean Group of Companies - India
- Savvy Resources Ltd - HongKong
- IHS Mccloskey Coal Group - USA
- Bharathi Cement Corporation - India
- Uttam Galva Steels Limited - India
- London Commodity Brokers - England
- Bukit Asam (Persero) Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Vizag Seaport Private Limited - India
- San Jose City I Power Corp, Philippines
- Sical Logistics Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indogreen Group - Indonesia
- Global Business Power Corporation, Philippines
- Commonwealth Bank - Australia
- Goldman Sachs - Singapore
- Merrill Lynch Commodities Europe
- Coalindo Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Tata Chemicals Ltd - India
- Directorate Of Revenue Intelligence - India
- Global Green Power PLC Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- ASAPP Information Group - India
- Maheswari Brothers Coal Limited - India
- Cement Manufacturers Association - India
- VISA Power Limited - India
- Semirara Mining Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Central Java Power - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Tamil Nadu electricity Board
- Gujarat Mineral Development Corp Ltd - India
- Manunggal Multi Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wood Mackenzie - Singapore
- OPG Power Generation Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Holcim Trading Pte Ltd - Singapore
- Sakthi Sugars Limited - India
- Marubeni Corporation - India
- Port Waratah Coal Services - Australia
- Ind-Barath Power Infra Limited - India
- White Energy Company Limited
- PNOC Exploration Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Parry Sugars Refinery, India
- Romanian Commodities Exchange
- Standard Chartered Bank - UAE
- Ministry of Finance - Indonesia
- Iligan Light & Power Inc, Philippines
- Aditya Birla Group - India
- Globalindo Alam Lestari - Indonesia
- Indonesian Coal Mining Association
- Energy Link Ltd, New Zealand
- Ministry of Transport, Egypt
- ICICI Bank Limited - India
- Borneo Indobara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kobexindo Tractors - Indoneisa
- Sree Jayajothi Cements Limited - India
- Jaiprakash Power Ventures ltd
- Minerals Council of Australia
- Riau Bara Harum - Indonesia
- Sarangani Energy Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Mjunction Services Limited - India
- The State Trading Corporation of India Ltd
- Sojitz Corporation - Japan
- Baramulti Group, Indonesia
- Deloitte Consulting - India
- Bukit Makmur.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Lanco Infratech Ltd - India
- Thiess Contractors Indonesia
- Maharashtra Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- Economic Council, Georgia
- European Bulk Services B.V. - Netherlands
- Bulk Trading Sa - Switzerland
- AsiaOL BioFuels Corp., Philippines
- Electricity Authority, New Zealand
- Kartika Selabumi Mining - Indonesia
- The Treasury - Australian Government
- Karaikal Port Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Grasim Industreis Ltd - India
- Mintek Dendrill Indonesia
- Bukit Baiduri Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bayan Resources Tbk. - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- International Coal Ventures Pvt Ltd - India
- Trasteel International SA, Italy
- Essar Steel Hazira Ltd - India
- Vedanta Resources Plc - India
- PowerSource Philippines DevCo
- Madhucon Powers Ltd - India
- Electricity Generating Authority of Thailand
- Kohat Cement Company Ltd. - Pakistan
- South Luzon Thermal Energy Corporation
- Gujarat Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- GMR Energy Limited - India
- Heidelberg Cement - Germany
- Indika Energy - Indonesia
- Thai Mozambique Logistica
- Mercuria Energy - Indonesia
- SMG Consultants - Indonesia
- Banpu Public Company Limited - Thailand
- Straits Asia Resources Limited - Singapore
- Kumho Petrochemical, South Korea
- SMC Global Power, Philippines
- Xindia Steels Limited - India
- Agrawal Coal Company - India
- SN Aboitiz Power Inc, Philippines
- Parliament of New Zealand
- Makarim & Taira - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Coal and Oil Company - UAE
- Star Paper Mills Limited - India
- Australian Coal Association
- Altura Mining Limited, Indonesia
- Mercator Lines Limited - India
- Aboitiz Power Corporation - Philippines
- Renaissance Capital - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bangladesh Power Developement Board
- Antam Resourcindo - Indonesia
- Coastal Gujarat Power Limited - India
- CNBM International Corporation - China
- Bhushan Steel Limited - India
- Krishnapatnam Port Company Ltd. - India
- Jindal Steel & Power Ltd - India
- The University of Queensland
- Indian Energy Exchange, India
- New Zealand Coal & Carbon
- Formosa Plastics Group - Taiwan
- Videocon Industries ltd - India
- Eastern Energy - Thailand
- Price Waterhouse Coopers - Russia
- GAC Shipping (India) Pvt Ltd
- Karbindo Abesyapradhi - Indoneisa
- Posco Energy - South Korea
- McConnell Dowell - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Anglo American - United Kingdom
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