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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, 27 June 16
THE BDI UP 3.75 PERCENT ; BCI FELL 1.51% WEEK OVER WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose this past week. The BDI was up 3.75 percent from las ...
Monday, 27 June 16
INDONESIA BANS (AGAIN) SHIPS SAILING TO THE PHILIPPINES FROM INDONESIA
COALspot.com: The Indonesian Transport Ministry strictly prohibited harbour masters issuing permits to all Indonesian-flagged vessels bound for the ...
Friday, 24 June 16
U.S WEEKLY COAL PRODUCTION UP MARGINALLY
COALspot.com – U.S, world’s one of the largest coal producers has produced approximately totalled an estimated 13.4 million short tons ...
Wednesday, 22 June 16
SMALL RISE IN SHIPPING CONFIDENCE - MOORE STEPHENS
In May 2016, the average confidence level expressed by respondents in the markets in which they operate was 5.1 on a scale of 1 (low) to 10 (high). ...
Wednesday, 22 June 16
SHIPPING MARKET INSIGHT - NASSOS SOULAKIS
Stagnation- With the BDI stuck in the low 600 points for almost a month now, if we had to choose a word to describe the state of the Dry Bulk freig ...
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- Sinarmas Energy and Mining - Indonesia
- Xindia Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- Global Business Power Corporation, Philippines
- Coal and Oil Company - UAE
- SMG Consultants - Indonesia
- Renaissance Capital - South Africa
- Borneo Indobara - Indonesia
- Eastern Energy - Thailand
- GVK Power & Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Trasteel International SA, Italy
- Madhucon Powers Ltd - India
- Barasentosa Lestari - Indonesia
- Dalmia Cement Bharat India
- Eastern Coal Council - USA
- SMC Global Power, Philippines
- Goldman Sachs - Singapore
- Thai Mozambique Logistica
- Parliament of New Zealand
- Wilmar Investment Holdings
- Oldendorff Carriers - Singapore
- Mercuria Energy - Indonesia
- White Energy Company Limited
- Metalloyd Limited - United Kingdom
- Indika Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kartika Selabumi Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Australian Commodity Traders Exchange
- Mintek Dendrill Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Latin American Coal - Colombia
- Holcim Trading Pte Ltd - Singapore
- PowerSource Philippines DevCo
- European Bulk Services B.V. - Netherlands
- Coastal Gujarat Power Limited - India
- Central Electricity Authority - India
- ASAPP Information Group - India
- Kideco Jaya Agung - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Karaikal Port Pvt Ltd - India
- MS Steel International - UAE
- Agrawal Coal Company - India
- VISA Power Limited - India
- Siam City Cement PLC, Thailand
- Kalimantan Lumbung Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bangladesh Power Developement Board
- Ministry of Finance - Indonesia
- Star Paper Mills Limited - India
- Toyota Tsusho Corporation, Japan
- Ministry of Transport, Egypt
- Kobexindo Tractors - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Indian Energy Exchange, India
- Global Coal Blending Company Limited - Australia
- Kaltim Prima Coal - Indonesia
- Aditya Birla Group - India
- Medco Energi Mining Internasional
- Bukit Baiduri Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- New Zealand Coal & Carbon
- Tata Chemicals Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Coal Association
- Carbofer General Trading SA - India
- Ind-Barath Power Infra Limited - India
- Manunggal Multi Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Maharashtra Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- Binh Thuan Hamico - Vietnam
- Kepco SPC Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Coalindo Energy - Indonesia
- Malabar Cements Ltd - India
- Makarim & Taira - Indonesia
- Directorate Of Revenue Intelligence - India
- Singapore Mercantile Exchange
- San Jose City I Power Corp, Philippines
- Marubeni Corporation - India
- Simpson Spence & Young - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- The University of Queensland
- Therma Luzon, Inc, Philippines
- Bulk Trading Sa - Switzerland
- Samtan Co., Ltd - South Korea
- Leighton Contractors Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Economic Council, Georgia
- Bhatia International Limited - India
- Antam Resourcindo - Indonesia
- Maheswari Brothers Coal Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- Siam City Cement - Thailand
- Orica Mining Services - Indonesia
- CNBM International Corporation - China
- Electricity Generating Authority of Thailand
- TeaM Sual Corporation - Philippines
- Meralco Power Generation, Philippines
- Central Java Power - Indonesia
- Heidelberg Cement - Germany
- Asmin Koalindo Tuhup - Indonesia
- Deloitte Consulting - India
- Indonesian Coal Mining Association
- TNB Fuel Sdn Bhd - Malaysia
- Posco Energy - South Korea
- Intertek Mineral Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Wood Mackenzie - Singapore
- Grasim Industreis Ltd - India
- Price Waterhouse Coopers - Russia
- Meenaskhi Energy Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Jindal Steel & Power Ltd - India
- Chamber of Mines of South Africa
- Altura Mining Limited, Indonesia
- Energy Development Corp, Philippines
- Indogreen Group - Indonesia
- Merrill Lynch Commodities Europe
- Bukit Asam (Persero) Tbk - Indonesia
- Independent Power Producers Association of India
- Neyveli Lignite Corporation Ltd, - India
- Parry Sugars Refinery, India
- Anglo American - United Kingdom
- Port Waratah Coal Services - Australia
- Straits Asia Resources Limited - Singapore
- Savvy Resources Ltd - HongKong
- GN Power Mariveles Coal Plant, Philippines
- Salva Resources Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cement Manufacturers Association - India
- Rio Tinto Coal - Australia
- Indo Tambangraya Megah - Indonesia
- Gujarat Sidhee Cement - India
- GMR Energy Limited - India
- The Treasury - Australian Government
- Global Green Power PLC Corporation, Philippines
- London Commodity Brokers - England
- Sarangani Energy Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- McConnell Dowell - Australia
- Sakthi Sugars Limited - India
- Miang Besar Coal Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Indian Oil Corporation Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bharathi Cement Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Power Finance Corporation Ltd., India
- The State Trading Corporation of India Ltd
- Kohat Cement Company Ltd. - Pakistan
- Baramulti Group, Indonesia
- LBH Netherlands Bv - Netherlands
- Sree Jayajothi Cements Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Authority, New Zealand
- South Luzon Thermal Energy Corporation
- Kumho Petrochemical, South Korea
- Planning Commission, India
- Semirara Mining Corp, Philippines
- Lanco Infratech Ltd - India
- CIMB Investment Bank - Malaysia
- OPG Power Generation Pvt Ltd - India
- Standard Chartered Bank - UAE
- Minerals Council of Australia
- Larsen & Toubro Limited - India
- SN Aboitiz Power Inc, Philippines
- Petron Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Bhoruka Overseas - Indonesia
- Orica Australia Pty. Ltd.
- Bahari Cakrawala Sebuku - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Commonwealth Bank - Australia
- Uttam Galva Steels Limited - India
- Mjunction Services Limited - India
- Georgia Ports Authority, United States
- PNOC Exploration Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Romanian Commodities Exchange
- India Bulls Power Limited - India
- Formosa Plastics Group - Taiwan
- ICICI Bank Limited - India
- PTC India Limited - India
- IHS Mccloskey Coal Group - USA
- Billiton Holdings Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Vedanta Resources Plc - India
- Attock Cement Pakistan Limited
- Edison Trading Spa - Italy
- Banpu Public Company Limited - Thailand
- Globalindo Alam Lestari - Indonesia
- Ambuja Cements Ltd - India
- Riau Bara Harum - Indonesia
- Vizag Seaport Private Limited - India
- Ministry of Mines - Canada
- Sindya Power Generating Company Private Ltd
- Sical Logistics Limited - India
- Essar Steel Hazira Ltd - India
- Mercator Lines Limited - India
- Africa Commodities Group - South Africa
- Sojitz Corporation - Japan
- Timah Investasi Mineral - Indoneisa
- Videocon Industries ltd - India
- Interocean Group of Companies - India
- IEA Clean Coal Centre - UK
- Jaiprakash Power Ventures ltd
- Bhushan Steel Limited - India
- Energy Link Ltd, New Zealand
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