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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, 29 June 16
THE DRY BULK INDICES, OPPOSITE TO MOST GLOBAL MARKET INDICES, ROSE END OF LAST WEEK
Last week closed off with a massive shockwave for markets across the world following the British referendum, the result of which will mark the begi ...
Tuesday, 28 June 16
WEEKLY CS COAL INDICES ROSE ON RENEWED DEMAND FROM CHINA
COALspot.com: Average 5000 GAR coal index of Indonesian origin was up by 0.66 percent week over week to averaging $39.65 per ton this past week, sh ...
Tuesday, 28 June 16
CHINA'S IRON ORE IMPORTS: HOW MUCH MORE WORK FOR CAPES? - CLARKSONS
Chinese iron ore imports account for around two thirds of global seaborne iron ore shipments, making it the key driver of Capesize employment. Whil ...
Monday, 27 June 16
LATEST NEWS ON BIMCO'S CONTRACTS AND CLAUSES
BIMCO is currently updating several of its most widely used charter parties including SUPPLYTIME and BARECON. New developments include the Standard ...
Monday, 27 June 16
BREXIT RESULT COULD SEE UK FACING AN EXODUS OF MARITIME TALENT - FASTSTREAM
The UK’s decision to leave the EU has the potential to drive many of its maritime employees away, according to the results of a survey issued ...
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- Africa Commodities Group - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhoruka Overseas - Indonesia
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- European Bulk Services B.V. - Netherlands
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- Banpu Public Company Limited - Thailand
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- McConnell Dowell - Australia
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- Videocon Industries ltd - India
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- Bharathi Cement Corporation - India
- Star Paper Mills Limited - India
- Intertek Mineral Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Alfred C Toepfer International GmbH - Germany
- Minerals Council of Australia
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- Directorate General of MIneral and Coal - Indonesia
- India Bulls Power Limited - India
- Medco Energi Mining Internasional
- Maheswari Brothers Coal Limited - India
- Bukit Makmur.PT - Indonesia
- Savvy Resources Ltd - HongKong
- Ind-Barath Power Infra Limited - India
- Formosa Plastics Group - Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- Bhushan Steel Limited - India
- Oldendorff Carriers - Singapore
- GAC Shipping (India) Pvt Ltd
- Neyveli Lignite Corporation Ltd, - India
- Merrill Lynch Commodities Europe
- IHS Mccloskey Coal Group - USA
- Sojitz Corporation - Japan
- Indian Energy Exchange, India
- Central Java Power - Indonesia
- SMC Global Power, Philippines
- Kepco SPC Power Corporation, Philippines
- ASAPP Information Group - India
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- White Energy Company Limited
- Coastal Gujarat Power Limited - India
- Directorate Of Revenue Intelligence - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Posco Energy - South Korea
- Indian Oil Corporation Limited
- Gujarat Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Indika Energy - Indonesia
- New Zealand Coal & Carbon
- Altura Mining Limited, Indonesia
- London Commodity Brokers - England
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- Miang Besar Coal Terminal - Indonesia
- Grasim Industreis Ltd - India
- Timah Investasi Mineral - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Antam Resourcindo - Indonesia
- Indo Tambangraya Megah - Indonesia
- Siam City Cement - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Development Corp, Philippines
- VISA Power Limited - India
- South Luzon Thermal Energy Corporation
- Jaiprakash Power Ventures ltd
- Makarim & Taira - Indonesia
- Thai Mozambique Logistica
- Anglo American - United Kingdom
- Salva Resources Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Lanco Infratech Ltd - India
- Aboitiz Power Corporation - Philippines
- Siam City Cement PLC, Thailand
- Barasentosa Lestari - Indonesia
- GVK Power & Infra Limited - India
- TeaM Sual Corporation - Philippines
- Economic Council, Georgia
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- Coal and Oil Company - UAE
- Malabar Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- Deloitte Consulting - India
- OPG Power Generation Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Sree Jayajothi Cements Limited - India
- The State Trading Corporation of India Ltd
- Aditya Birla Group - India
- GN Power Mariveles Coal Plant, Philippines
- Electricity Authority, New Zealand
- Kartika Selabumi Mining - Indonesia
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- Mjunction Services Limited - India
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- Toyota Tsusho Corporation, Japan
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- Chamber of Mines of South Africa
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- Attock Cement Pakistan Limited
- Kalimantan Lumbung Energi - Indonesia
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- Wood Mackenzie - Singapore
- The University of Queensland
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- SN Aboitiz Power Inc, Philippines
- SMG Consultants - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining and Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Bhatia International Limited - India
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- IEA Clean Coal Centre - UK
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- Tata Chemicals Ltd - India
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- TNB Fuel Sdn Bhd - Malaysia
- Cement Manufacturers Association - India
- Asmin Koalindo Tuhup - Indonesia
- CNBM International Corporation - China
- Mercator Lines Limited - India
- Singapore Mercantile Exchange
- Globalindo Alam Lestari - Indonesia
- Agrawal Coal Company - India
- Renaissance Capital - South Africa
- PowerSource Philippines DevCo
- Sical Logistics Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Parliament of New Zealand
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- Central Electricity Authority - India
- Billiton Holdings Pty Ltd - Australia
- Dalmia Cement Bharat India
- Bayan Resources Tbk. - Indonesia
- Rio Tinto Coal - Australia
- Bangladesh Power Developement Board
- Marubeni Corporation - India
- Petron Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Edison Trading Spa - Italy
- Parry Sugars Refinery, India
- Indogreen Group - Indonesia
- Ambuja Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Goldman Sachs - Singapore
- Ministry of Mines - Canada
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- Heidelberg Cement - Germany
- Kaltim Prima Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
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- Sakthi Sugars Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Thiess Contractors Indonesia
- Standard Chartered Bank - UAE
- MS Steel International - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Larsen & Toubro Limited - India
- Bukit Baiduri Energy - Indonesia
- Uttam Galva Steels Limited - India
- Kideco Jaya Agung - Indonesia
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- Jindal Steel & Power Ltd - India
- Romanian Commodities Exchange
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- PTC India Limited - India
- Sarangani Energy Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Mintek Dendrill Indonesia
- Price Waterhouse Coopers - Russia
- Port Waratah Coal Services - Australia
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