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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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Wednesday, 06 July 16
KOMIPO INVITES BIDS FOR 780000 MT OF BITUMINOUS COAL
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 780,000 Metric Tons of Bituminous Coal for its B ...
Wednesday, 06 July 16
MARKET INSIGHT - VASSILIS VASSILIOU
After a fairly silent first half of the year in the ship repair sector, we have finally a harmonized workload in the shipyards around the world. Ma ...
Tuesday, 05 July 16
DRY BULK SHIPPING'S RECOVERY NOT SEEN UNTIL 2018 - SGX
SGX freight derivative volumes totaled 36,542 contracts in June (-28% m/m; +52% y/y), while open interest averaged 121,189 contracts during the mon ...
Tuesday, 05 July 16
SPOT COAL INDEXES FOR INDONESIAN COAL CONTINUE TO HOLD FIRM - CS COAL INDEX
COALspot.com: Average 5000 GAR coal index of Indonesian origin was up by 0.83 percent week over week to averaging $39.98 per ton this past week, sh ...
Monday, 04 July 16
INDONESIA COAL PRICE REFERENCE CLIMBED 2.30% IN JULY
COALspot.com: The Indonesia Coal Benchmark Price increased in July 2016.
The Director General of Mineral and Coal of Indonesia, the r ...
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- Dalmia Cement Bharat India
- AsiaOL BioFuels Corp., Philippines
- Georgia Ports Authority, United States
- Sarangani Energy Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Baiduri Energy - Indonesia
- Tata Chemicals Ltd - India
- Trasteel International SA, Italy
- Alfred C Toepfer International GmbH - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Electricity Generating Authority of Thailand
- Miang Besar Coal Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- IEA Clean Coal Centre - UK
- Tamil Nadu electricity Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- Heidelberg Cement - Germany
- Ind-Barath Power Infra Limited - India
- Larsen & Toubro Limited - India
- Australian Coal Association
- Therma Luzon, Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Bhoruka Overseas - Indonesia
- Uttam Galva Steels Limited - India
- Mercuria Energy - Indonesia
- Indika Energy - Indonesia
- PowerSource Philippines DevCo
- Mintek Dendrill Indonesia
- Parry Sugars Refinery, India
- India Bulls Power Limited - India
- Cement Manufacturers Association - India
- Iligan Light & Power Inc, Philippines
- Baramulti Group, Indonesia
- Chettinad Cement Corporation Ltd - India
- CNBM International Corporation - China
- Lanco Infratech Ltd - India
- Australian Commodity Traders Exchange
- Sree Jayajothi Cements Limited - India
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- Port Waratah Coal Services - Australia
- PetroVietnam Power Coal Import and Supply Company
- Kartika Selabumi Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Eastern Coal Council - USA
- Ministry of Finance - Indonesia
- Indonesian Coal Mining Association
- Minerals Council of Australia
- Indian Energy Exchange, India
- Semirara Mining and Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Indogreen Group - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Economic Council, Georgia
- Global Business Power Corporation, Philippines
- Bhatia International Limited - India
- Indian Oil Corporation Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Essar Steel Hazira Ltd - India
- The Treasury - Australian Government
- Electricity Authority, New Zealand
- Thiess Contractors Indonesia
- Gujarat Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Interocean Group of Companies - India
- Kalimantan Lumbung Energi - Indonesia
- Coal and Oil Company - UAE
- Independent Power Producers Association of India
- Sical Logistics Limited - India
- Mercator Lines Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Posco Energy - South Korea
- Vizag Seaport Private Limited - India
- Energy Development Corp, Philippines
- Riau Bara Harum - Indonesia
- GVK Power & Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- Ministry of Transport, Egypt
- Indo Tambangraya Megah - Indonesia
- VISA Power Limited - India
- PNOC Exploration Corporation - Philippines
- Bharathi Cement Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Xindia Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Altura Mining Limited, Indonesia
- IHS Mccloskey Coal Group - USA
- Eastern Energy - Thailand
- Energy Link Ltd, New Zealand
- Global Coal Blending Company Limited - Australia
- International Coal Ventures Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Merrill Lynch Commodities Europe
- Formosa Plastics Group - Taiwan
- ICICI Bank Limited - India
- Parliament of New Zealand
- Ambuja Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sakthi Sugars Limited - India
- GMR Energy Limited - India
- Directorate Of Revenue Intelligence - India
- Leighton Contractors Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Toyota Tsusho Corporation, Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The State Trading Corporation of India Ltd
- Makarim & Taira - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Videocon Industries ltd - India
- MS Steel International - UAE
- Agrawal Coal Company - India
- Coastal Gujarat Power Limited - India
- Power Finance Corporation Ltd., India
- Madhucon Powers Ltd - India
- New Zealand Coal & Carbon
- Bukit Makmur.PT - Indonesia
- White Energy Company Limited
- Siam City Cement PLC, Thailand
- Aboitiz Power Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Kumho Petrochemical, South Korea
- Globalindo Alam Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Edison Trading Spa - Italy
- Metalloyd Limited - United Kingdom
- ASAPP Information Group - India
- Oldendorff Carriers - Singapore
- Straits Asia Resources Limited - Singapore
- Kepco SPC Power Corporation, Philippines
- Thai Mozambique Logistica
- Gujarat Sidhee Cement - India
- Orica Australia Pty. Ltd.
- McConnell Dowell - Australia
- Price Waterhouse Coopers - Russia
- CIMB Investment Bank - Malaysia
- Star Paper Mills Limited - India
- Grasim Industreis Ltd - India
- Meenaskhi Energy Private Limited - India
- Petron Corporation, Philippines
- Meralco Power Generation, Philippines
- Kideco Jaya Agung - Indonesia
- Semirara Mining Corp, Philippines
- London Commodity Brokers - England
- Mjunction Services Limited - India
- OPG Power Generation Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Siam City Cement - Thailand
- Aditya Birla Group - India
- Ministry of Mines - Canada
- Bayan Resources Tbk. - Indonesia
- SMC Global Power, Philippines
- Bhushan Steel Limited - India
- Africa Commodities Group - South Africa
- Planning Commission, India
- Banpu Public Company Limited - Thailand
- PTC India Limited - India
- Vedanta Resources Plc - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Commonwealth Bank - Australia
- TeaM Sual Corporation - Philippines
- Borneo Indobara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- San Jose City I Power Corp, Philippines
- Salva Resources Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- South Luzon Thermal Energy Corporation
- Wilmar Investment Holdings
- Latin American Coal - Colombia
- Carbofer General Trading SA - India
- Wood Mackenzie - Singapore
- Savvy Resources Ltd - HongKong
- Cigading International Bulk Terminal - Indonesia
- Anglo American - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Orica Mining Services - Indonesia
- Chamber of Mines of South Africa
- Singapore Mercantile Exchange
- Central Electricity Authority - India
- Romanian Commodities Exchange
- Timah Investasi Mineral - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Coalindo Energy - Indonesia
- Bangladesh Power Developement Board
- European Bulk Services B.V. - Netherlands
- Medco Energi Mining Internasional
- The University of Queensland
- Holcim Trading Pte Ltd - Singapore
- Deloitte Consulting - India
- Standard Chartered Bank - UAE
- Maheswari Brothers Coal Limited - India
- Rio Tinto Coal - Australia
- Central Java Power - Indonesia
- Attock Cement Pakistan Limited
- Rashtriya Ispat Nigam Limited - India
- Samtan Co., Ltd - South Korea
- Sojitz Corporation - Japan
- SMG Consultants - Indonesia
- Goldman Sachs - Singapore
- Binh Thuan Hamico - Vietnam
- Malabar Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Manunggal Multi Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Marubeni Corporation - India
- Pendopo Energi Batubara - Indonesia
- Renaissance Capital - South Africa
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