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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, 11 July 16
THE MAIN SEA FREIGHT INDEX, BDI ROSE FURTHER ON 8 JULY DUE TO STRONG DEMAND FOR PANAMAX SHIPS
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose this past week. The BDI was up 3.84 percent from las ...
Monday, 11 July 16
DRY BULK MARKET: UP TO 30 MILLION DWT OF OLDER BULKERS WILL NEED TO BE SCRAPPED BY END OF 2017 FOR MARKET TO FIND BALANCE
Tonnage oversupply in the dry bulk market is more than evident, as newbuildings have been hitting the water faster than owners can scrap their olde ...
Friday, 08 July 16
U.S. WEEKLY COAL OUTPUT UP 3% TO 14.1 MMST - EIA
COALspot.com – U.S, world’s second largest coal producers has produced approximately totalled an estimated 14.1 million short tons (mms ...
Thursday, 07 July 16
PANAMAX : THE TENDENCY FROM LAST WEEK CONTINUES WITH A CONSIDERABLY STRONGER SENTIMENT ALL ACROSS THE BLOCK - FEARNLEYS
Capesize
Rates have been holding at steady levels over the last weeks but towards end of this period they are becoming under more pressure as gen ...
Thursday, 07 July 16
CONSOLIDATION TO RULE OVER SHIPPING, AS EXECUTIVES SEEK INVESTMENT OPPORTUNITIES IN CHINA, INDIA AND EUROPE SAYS NORTON ROSE SURVEY
The transport sector is looking to Asia Pacific as the key market for investment over the next five years, according to the seventh The way ahead T ...
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- Kapuas Tunggal Persada - Indonesia
- GVK Power & Infra Limited - India
- Mercuria Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Oldendorff Carriers - Singapore
- Parliament of New Zealand
- Global Coal Blending Company Limited - Australia
- SN Aboitiz Power Inc, Philippines
- Agrawal Coal Company - India
- Kepco SPC Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- PTC India Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Bangladesh Power Developement Board
- Kideco Jaya Agung - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Indogreen Group - Indonesia
- Metalloyd Limited - United Kingdom
- The Treasury - Australian Government
- Gujarat Sidhee Cement - India
- LBH Netherlands Bv - Netherlands
- Bukit Baiduri Energy - Indonesia
- Petron Corporation, Philippines
- Trasteel International SA, Italy
- Salva Resources Pvt Ltd - India
- Africa Commodities Group - South Africa
- ICICI Bank Limited - India
- GMR Energy Limited - India
- London Commodity Brokers - England
- Thiess Contractors Indonesia
- AsiaOL BioFuels Corp., Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Generating Authority of Thailand
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Mines - Canada
- Ceylon Electricity Board - Sri Lanka
- Port Waratah Coal Services - Australia
- Singapore Mercantile Exchange
- Energy Development Corp, Philippines
- South Luzon Thermal Energy Corporation
- Bayan Resources Tbk. - Indonesia
- Economic Council, Georgia
- TeaM Sual Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Videocon Industries ltd - India
- Eastern Energy - Thailand
- Eastern Coal Council - USA
- Indian Oil Corporation Limited
- ASAPP Information Group - India
- Georgia Ports Authority, United States
- Electricity Authority, New Zealand
- Malabar Cements Ltd - India
- Indika Energy - Indonesia
- McConnell Dowell - Australia
- Semirara Mining Corp, Philippines
- Wood Mackenzie - Singapore
- Essar Steel Hazira Ltd - India
- Medco Energi Mining Internasional
- Meenaskhi Energy Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Savvy Resources Ltd - HongKong
- Grasim Industreis Ltd - India
- Goldman Sachs - Singapore
- Globalindo Alam Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Minerals Council of Australia
- Chamber of Mines of South Africa
- Antam Resourcindo - Indonesia
- Mercator Lines Limited - India
- Chettinad Cement Corporation Ltd - India
- Thai Mozambique Logistica
- Rashtriya Ispat Nigam Limited - India
- Intertek Mineral Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Formosa Plastics Group - Taiwan
- Manunggal Multi Energi - Indonesia
- Global Business Power Corporation, Philippines
- Siam City Cement - Thailand
- Latin American Coal - Colombia
- Straits Asia Resources Limited - Singapore
- Directorate Of Revenue Intelligence - India
- Mjunction Services Limited - India
- Attock Cement Pakistan Limited
- Sakthi Sugars Limited - India
- CIMB Investment Bank - Malaysia
- Deloitte Consulting - India
- Lanco Infratech Ltd - India
- Cement Manufacturers Association - India
- San Jose City I Power Corp, Philippines
- Renaissance Capital - South Africa
- Jindal Steel & Power Ltd - India
- Bhushan Steel Limited - India
- Star Paper Mills Limited - India
- Edison Trading Spa - Italy
- Australian Coal Association
- Karbindo Abesyapradhi - Indoneisa
- Sree Jayajothi Cements Limited - India
- Coastal Gujarat Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Posco Energy - South Korea
- Vizag Seaport Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Uttam Galva Steels Limited - India
- Dalmia Cement Bharat India
- Pendopo Energi Batubara - Indonesia
- Ind-Barath Power Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CNBM International Corporation - China
- Mintek Dendrill Indonesia
- Australian Commodity Traders Exchange
- SMG Consultants - Indonesia
- Bhoruka Overseas - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kumho Petrochemical, South Korea
- Samtan Co., Ltd - South Korea
- Gujarat Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- Riau Bara Harum - Indonesia
- Bulk Trading Sa - Switzerland
- Gujarat Mineral Development Corp Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Binh Thuan Hamico - Vietnam
- MS Steel International - UAE
- Coal and Oil Company - UAE
- Heidelberg Cement - Germany
- Central Electricity Authority - India
- Kartika Selabumi Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- International Coal Ventures Pvt Ltd - India
- Indonesian Coal Mining Association
- Carbofer General Trading SA - India
- Parry Sugars Refinery, India
- Larsen & Toubro Limited - India
- Interocean Group of Companies - India
- Semirara Mining and Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- IEA Clean Coal Centre - UK
- Rio Tinto Coal - Australia
- Coalindo Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Madhucon Powers Ltd - India
- Simpson Spence & Young - Indonesia
- Sindya Power Generating Company Private Ltd
- Tamil Nadu electricity Board
- Orica Mining Services - Indonesia
- Siam City Cement PLC, Thailand
- PowerSource Philippines DevCo
- Maheswari Brothers Coal Limited - India
- SMC Global Power, Philippines
- Sinarmas Energy and Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Sojitz Corporation - Japan
- Aboitiz Power Corporation - Philippines
- Planning Commission, India
- Vedanta Resources Plc - India
- Pipit Mutiara Jaya. PT, Indonesia
- Ambuja Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Indian Energy Exchange, India
- Xindia Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- Bhatia International Limited - India
- Bharathi Cement Corporation - India
- India Bulls Power Limited - India
- Kobexindo Tractors - Indoneisa
- Power Finance Corporation Ltd., India
- Independent Power Producers Association of India
- VISA Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Timah Investasi Mineral - Indoneisa
- Tata Chemicals Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Marubeni Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Aditya Birla Group - India
- Bukit Makmur.PT - Indonesia
- New Zealand Coal & Carbon
- Karaikal Port Pvt Ltd - India
- Baramulti Group, Indonesia
- Banpu Public Company Limited - Thailand
- Meralco Power Generation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Anglo American - United Kingdom
- Price Waterhouse Coopers - Russia
- The University of Queensland
- GAC Shipping (India) Pvt Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Transport, Egypt
- Standard Chartered Bank - UAE
- Iligan Light & Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Orica Australia Pty. Ltd.
- Commonwealth Bank - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indo Tambangraya Megah - Indonesia
- White Energy Company Limited
- IHS Mccloskey Coal Group - USA
- The State Trading Corporation of India Ltd
- Central Java Power - Indonesia
- Merrill Lynch Commodities Europe
- Romanian Commodities Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Sical Logistics Limited - India
- Barasentosa Lestari - Indonesia
- Wilmar Investment Holdings
- Borneo Indobara - Indonesia
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