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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, 15 June 16
THE DRY BULK PRICES CORRECTED UPWARDS ROUGHLY 15% - KONSTANTINOS KONTOMICHIS
Once more, the international shipping community turned its attention to Greece and more specifically to Attica that hosted Posidonia, the biggest m ...
Tuesday, 14 June 16
CS COAL INDICES ROSE UP FOR A THIRD STRAIGHT WEEK; 4200 GAR COAL UP 0.73%
COALspot.com: Average 5000 GAR coal index of Indonesian origin was up 0.54 percent week over week to averaging $39.37 per ton this past week, shows ...
Monday, 13 June 16
DEMAND FOR DRY BULK COMMODITIES COULD PROVIDE FUTURE BOOST FOR SHIP OWNERS - HELLENIC SHIPPING NEWS
When it comes to the dry bulk market, shipowners these days are looking for news in any shape or form they can find them. However, as the discussio ...
Monday, 13 June 16
ONSHORE SHALE: WORTH KEEPING IN THE SHIPPING SPOTLIGHT CLARKSONS
Generally, shipping industry watchers spend much of their time monitoring events out to sea: how fleets are evolving, trade volumes growing and fre ...
Monday, 13 June 16
PORT OF NEWCASTLE SHIPPED 5.03% MORE COAL IN MAY; AVERAGE SELLING PRICE DECLINED 2.08% FROM APRIL
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port has shipped $AU 1.162bill ...
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- Billiton Holdings Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Eastern Energy - Thailand
- Electricity Generating Authority of Thailand
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining Corp, Philippines
- MS Steel International - UAE
- GMR Energy Limited - India
- Agrawal Coal Company - India
- Bharathi Cement Corporation - India
- Kepco SPC Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Ministry of Transport, Egypt
- Tata Chemicals Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Trasteel International SA, Italy
- Bukit Baiduri Energy - Indonesia
- The University of Queensland
- Renaissance Capital - South Africa
- Wilmar Investment Holdings
- Sarangani Energy Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- CIMB Investment Bank - Malaysia
- Meralco Power Generation, Philippines
- Antam Resourcindo - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Rashtriya Ispat Nigam Limited - India
- Deloitte Consulting - India
- Pipit Mutiara Jaya. PT, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- IEA Clean Coal Centre - UK
- Parry Sugars Refinery, India
- Bahari Cakrawala Sebuku - Indonesia
- Commonwealth Bank - Australia
- San Jose City I Power Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Mercator Lines Limited - India
- Samtan Co., Ltd - South Korea
- Salva Resources Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Timah Investasi Mineral - Indoneisa
- Global Coal Blending Company Limited - Australia
- Sree Jayajothi Cements Limited - India
- Edison Trading Spa - Italy
- Ministry of Mines - Canada
- Medco Energi Mining Internasional
- PowerSource Philippines DevCo
- Manunggal Multi Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kartika Selabumi Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- GAC Shipping (India) Pvt Ltd
- London Commodity Brokers - England
- Vedanta Resources Plc - India
- Rio Tinto Coal - Australia
- Videocon Industries ltd - India
- European Bulk Services B.V. - Netherlands
- Port Waratah Coal Services - Australia
- Bukit Makmur.PT - Indonesia
- Mercuria Energy - Indonesia
- Posco Energy - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Finance - Indonesia
- Indonesian Coal Mining Association
- Ceylon Electricity Board - Sri Lanka
- Energy Development Corp, Philippines
- Baramulti Group, Indonesia
- Bhatia International Limited - India
- Krishnapatnam Port Company Ltd. - India
- Indo Tambangraya Megah - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Power Finance Corporation Ltd., India
- IHS Mccloskey Coal Group - USA
- Uttam Galva Steels Limited - India
- Xindia Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Madhucon Powers Ltd - India
- Indian Energy Exchange, India
- Makarim & Taira - Indonesia
- Toyota Tsusho Corporation, Japan
- TeaM Sual Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Bangladesh Power Developement Board
- Vizag Seaport Private Limited - India
- SMC Global Power, Philippines
- International Coal Ventures Pvt Ltd - India
- Larsen & Toubro Limited - India
- Jindal Steel & Power Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Coal and Oil Company - UAE
- Independent Power Producers Association of India
- Parliament of New Zealand
- Therma Luzon, Inc, Philippines
- White Energy Company Limited
- India Bulls Power Limited - India
- Directorate Of Revenue Intelligence - India
- Africa Commodities Group - South Africa
- Sakthi Sugars Limited - India
- Thai Mozambique Logistica
- Simpson Spence & Young - Indonesia
- Interocean Group of Companies - India
- Dalmia Cement Bharat India
- Global Business Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- PNOC Exploration Corporation - Philippines
- Grasim Industreis Ltd - India
- Georgia Ports Authority, United States
- Ind-Barath Power Infra Limited - India
- Kumho Petrochemical, South Korea
- Mintek Dendrill Indonesia
- Economic Council, Georgia
- Aboitiz Power Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement - Thailand
- Cement Manufacturers Association - India
- CNBM International Corporation - China
- Semirara Mining and Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Bhoruka Overseas - Indonesia
- Bulk Trading Sa - Switzerland
- ICICI Bank Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Meenaskhi Energy Private Limited - India
- PTC India Limited - India
- Malabar Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Gujarat Sidhee Cement - India
- Carbofer General Trading SA - India
- Borneo Indobara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indogreen Group - Indonesia
- Eastern Coal Council - USA
- ASAPP Information Group - India
- Chamber of Mines of South Africa
- Wood Mackenzie - Singapore
- Banpu Public Company Limited - Thailand
- VISA Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- McConnell Dowell - Australia
- Oldendorff Carriers - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Barasentosa Lestari - Indonesia
- Lanco Infratech Ltd - India
- Planning Commission, India
- Star Paper Mills Limited - India
- Riau Bara Harum - Indonesia
- Energy Link Ltd, New Zealand
- Essar Steel Hazira Ltd - India
- Binh Thuan Hamico - Vietnam
- Kaltim Prima Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- New Zealand Coal & Carbon
- Central Electricity Authority - India
- Latin American Coal - Colombia
- Aditya Birla Group - India
- Maheswari Brothers Coal Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Commodity Traders Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Miang Besar Coal Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- Orica Australia Pty. Ltd.
- Siam City Cement PLC, Thailand
- Globalindo Alam Lestari - Indonesia
- Singapore Mercantile Exchange
- Sojitz Corporation - Japan
- SN Aboitiz Power Inc, Philippines
- Anglo American - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coalindo Energy - Indonesia
- Mjunction Services Limited - India
- Sical Logistics Limited - India
- Jaiprakash Power Ventures ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Minerals Council of Australia
- Ambuja Cements Ltd - India
- SMG Consultants - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Thiess Contractors Indonesia
- Electricity Authority, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Indika Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Attock Cement Pakistan Limited
- GVK Power & Infra Limited - India
- Formosa Plastics Group - Taiwan
- Orica Mining Services - Indonesia
- Tamil Nadu electricity Board
- Kideco Jaya Agung - Indonesia
- Gujarat Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Pendopo Energi Batubara - Indonesia
- Petron Corporation, Philippines
- Merrill Lynch Commodities Europe
- Altura Mining Limited, Indonesia
- Global Green Power PLC Corporation, Philippines
- Romanian Commodities Exchange
- The State Trading Corporation of India Ltd
- Central Java Power - Indonesia
- Goldman Sachs - Singapore
- The Treasury - Australian Government
- South Luzon Thermal Energy Corporation
- Marubeni Corporation - India
- Heidelberg Cement - Germany
- Indian Oil Corporation Limited
- Australian Coal Association
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