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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, 04 July 16
BDI ROSE ON STRONGER DEMAND ACROSS ALL VESSEL SEGMENTS
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose this past week. The BDI was up 11.16 percent from la ...
Friday, 01 July 16
BREXIT SET TO HURT SHIPPING IN THE LONG-TERM AS IT WILL TAKE ITS TOLL IN THE GLOBAL ECONOMY'S GROWTH - HELLENIC SHIPPING
Setting aside the short-term negative impact of the Brexit, in terms of stock market and currency volatility, it’s more than evident that the ...
Friday, 01 July 16
U.S'S COAL EXPORTS HAVE DECLINED FOR TWELVE QUARTERS IN A ROW - EIA
COALspot.com – U.S, world’s one of the largest coal producers has produced approximately totalled an estimated 13.7 million short t ...
Thursday, 30 June 16
CAPE - THIS WEEK'S FREIGHT AND ACTIVITY LEVEL HAVE KEPT STABLE - FEARNLEYS
Cape
This week’s freight and activity level have kept stable. It is support at the present levels and despite a volatile market the freight ...
Thursday, 30 June 16
OIL PRODUCT TANKERS EARNINGS DECLINE AS STOCKBUILDING SLOWS DOWN - BIMCO
BIMCO’s expectations remain as the oil product tanker fleet continues to grow with earnings at the lowest since Q3 in 2014. But there is stil ...
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- Orica Mining Services - Indonesia
- McConnell Dowell - Australia
- GMR Energy Limited - India
- South Luzon Thermal Energy Corporation
- New Zealand Coal & Carbon
- Pipit Mutiara Jaya. PT, Indonesia
- SMC Global Power, Philippines
- White Energy Company Limited
- Kohat Cement Company Ltd. - Pakistan
- Africa Commodities Group - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Coal Blending Company Limited - Australia
- Dalmia Cement Bharat India
- Vizag Seaport Private Limited - India
- Savvy Resources Ltd - HongKong
- Cement Manufacturers Association - India
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- Heidelberg Cement - Germany
- Central Java Power - Indonesia
- Chettinad Cement Corporation Ltd - India
- India Bulls Power Limited - India
- Madhucon Powers Ltd - India
- Sakthi Sugars Limited - India
- Australian Coal Association
- Kalimantan Lumbung Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Power Finance Corporation Ltd., India
- Parry Sugars Refinery, India
- IEA Clean Coal Centre - UK
- Minerals Council of Australia
- Essar Steel Hazira Ltd - India
- Bulk Trading Sa - Switzerland
- Parliament of New Zealand
- Formosa Plastics Group - Taiwan
- Banpu Public Company Limited - Thailand
- Merrill Lynch Commodities Europe
- Meralco Power Generation, Philippines
- OPG Power Generation Pvt Ltd - India
- Bharathi Cement Corporation - India
- European Bulk Services B.V. - Netherlands
- Orica Australia Pty. Ltd.
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thai Mozambique Logistica
- Bukit Makmur.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- Jorong Barutama Greston.PT - Indonesia
- Energy Development Corp, Philippines
- Planning Commission, India
- Makarim & Taira - Indonesia
- San Jose City I Power Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Iligan Light & Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- TeaM Sual Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Eastern Energy - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Aditya Birla Group - India
- ICICI Bank Limited - India
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Thiess Contractors Indonesia
- Antam Resourcindo - Indonesia
- Coal and Oil Company - UAE
- Ceylon Electricity Board - Sri Lanka
- Romanian Commodities Exchange
- Interocean Group of Companies - India
- Indo Tambangraya Megah - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Meenaskhi Energy Private Limited - India
- Simpson Spence & Young - Indonesia
- Chamber of Mines of South Africa
- Xindia Steels Limited - India
- Altura Mining Limited, Indonesia
- Binh Thuan Hamico - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Trasteel International SA, Italy
- SN Aboitiz Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Goldman Sachs - Singapore
- Economic Council, Georgia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Business Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Central Electricity Authority - India
- Sojitz Corporation - Japan
- Videocon Industries ltd - India
- Ministry of Finance - Indonesia
- Ministry of Transport, Egypt
- Bukit Baiduri Energy - Indonesia
- Star Paper Mills Limited - India
- Agrawal Coal Company - India
- AsiaOL BioFuels Corp., Philippines
- Sical Logistics Limited - India
- The Treasury - Australian Government
- Bhushan Steel Limited - India
- International Coal Ventures Pvt Ltd - India
- Wilmar Investment Holdings
- Krishnapatnam Port Company Ltd. - India
- Mercator Lines Limited - India
- VISA Power Limited - India
- Edison Trading Spa - Italy
- Indian Energy Exchange, India
- Malabar Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- Commonwealth Bank - Australia
- SMG Consultants - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Wood Mackenzie - Singapore
- ASAPP Information Group - India
- IHS Mccloskey Coal Group - USA
- Carbofer General Trading SA - India
- Mercuria Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bhatia International Limited - India
- Bayan Resources Tbk. - Indonesia
- Vedanta Resources Plc - India
- Karaikal Port Pvt Ltd - India
- Mintek Dendrill Indonesia
- Ind-Barath Power Infra Limited - India
- Standard Chartered Bank - UAE
- Indogreen Group - Indonesia
- Renaissance Capital - South Africa
- Tata Chemicals Ltd - India
- Price Waterhouse Coopers - Russia
- Metalloyd Limited - United Kingdom
- Straits Asia Resources Limited - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PetroVietnam Power Coal Import and Supply Company
- Salva Resources Pvt Ltd - India
- Mjunction Services Limited - India
- Maheswari Brothers Coal Limited - India
- Coastal Gujarat Power Limited - India
- Intertek Mineral Services - Indonesia
- Ministry of Mines - Canada
- Oldendorff Carriers - Singapore
- GAC Shipping (India) Pvt Ltd
- Asmin Koalindo Tuhup - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Electricity Authority, New Zealand
- Kepco SPC Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Kaltim Prima Coal - Indonesia
- GVK Power & Infra Limited - India
- Siam City Cement - Thailand
- Pendopo Energi Batubara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- The State Trading Corporation of India Ltd
- GN Power Mariveles Coal Plant, Philippines
- Sree Jayajothi Cements Limited - India
- Samtan Co., Ltd - South Korea
- The University of Queensland
- Timah Investasi Mineral - Indoneisa
- PowerSource Philippines DevCo
- Latin American Coal - Colombia
- Tamil Nadu electricity Board
- Kapuas Tunggal Persada - Indonesia
- Port Waratah Coal Services - Australia
- Independent Power Producers Association of India
- Larsen & Toubro Limited - India
- Sarangani Energy Corporation, Philippines
- Bangladesh Power Developement Board
- Grasim Industreis Ltd - India
- Aboitiz Power Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Coalindo Energy - Indonesia
- Attock Cement Pakistan Limited
- PTC India Limited - India
- Kobexindo Tractors - Indoneisa
- Georgia Ports Authority, United States
- Uttam Galva Steels Limited - India
- Baramulti Group, Indonesia
- Anglo American - United Kingdom
- Indika Energy - Indonesia
- Australian Commodity Traders Exchange
- Marubeni Corporation - India
- London Commodity Brokers - England
- Toyota Tsusho Corporation, Japan
- Barasentosa Lestari - Indonesia
- Indian Oil Corporation Limited
- Rio Tinto Coal - Australia
- Posco Energy - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining Corp, Philippines
- Lanco Infratech Ltd - India
- Borneo Indobara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Energy Link Ltd, New Zealand
- LBH Netherlands Bv - Netherlands
- Siam City Cement PLC, Thailand
- CNBM International Corporation - China
- Riau Bara Harum - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Petron Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Medco Energi Mining Internasional
- Directorate General of MIneral and Coal - Indonesia
- MS Steel International - UAE
- Indonesian Coal Mining Association
- Sinarmas Energy and Mining - Indonesia
- Eastern Coal Council - USA
- Electricity Generating Authority of Thailand
- Jindal Steel & Power Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- Singapore Mercantile Exchange
- CIMB Investment Bank - Malaysia
- Ambuja Cements Ltd - India
- Bhoruka Overseas - Indonesia
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