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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, 08 June 16
THE DRY BULK MARKET KEPT MOVING SIDEWAYS LAST WEEK; SECOND HAND PURCHASES MOVING NORTH - INTERMODAL
Once again its Posidonia time and the biannual exhibition takes place during a very warm June here in Athens, as if the performance of the dry bulk ...
Tuesday, 07 June 16
CS COAL INDEX ROSE FOR SECOND STRAIGHT WEEK
COALspot.com: Average 5000 GAR coal index of Indonesian origin was up 0.38 percent week over week to averaging $39.16 per ton this past week, shows ...
Monday, 06 June 16
BDI GAINED ON A STRONGER DEMAND FOR CAPESIZE SHIPS
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose this past week on a stronger demand for Capesize ves ...
Friday, 03 June 16
DRY BULK VESSEL DELIVERIES COULD BE LESS THAN 50 MILLION DWT IN 2016, AS OWNERS DELAY OR CANCEL NEWBUILDING ORDERS
The dry bulk market has been caught between a rock and a hard place over the course of the past couple of years, as on one hand demand has plunged, ...
Friday, 03 June 16
U.S WEEKLY COAL PRODUCTION SLIDES 1.3% - EIA
COALspot.com – U.S the world’s second largest coal producer has produced approximately totaled an estimated 11.5 million short tons (mm ...
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- GVK Power & Infra Limited - India
- Malabar Cements Ltd - India
- Barasentosa Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Indo Tambangraya Megah - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- Bhatia International Limited - India
- Salva Resources Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- CIMB Investment Bank - Malaysia
- Medco Energi Mining Internasional
- Madhucon Powers Ltd - India
- Petron Corporation, Philippines
- Central Java Power - Indonesia
- Bayan Resources Tbk. - Indonesia
- Merrill Lynch Commodities Europe
- Toyota Tsusho Corporation, Japan
- Orica Australia Pty. Ltd.
- Mjunction Services Limited - India
- Georgia Ports Authority, United States
- Borneo Indobara - Indonesia
- Sojitz Corporation - Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ind-Barath Power Infra Limited - India
- Ministry of Mines - Canada
- Kapuas Tunggal Persada - Indonesia
- Mercuria Energy - Indonesia
- Coal and Oil Company - UAE
- Billiton Holdings Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- AsiaOL BioFuels Corp., Philippines
- Therma Luzon, Inc, Philippines
- Siam City Cement PLC, Thailand
- Iligan Light & Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Economic Council, Georgia
- Altura Mining Limited, Indonesia
- Bukit Makmur.PT - Indonesia
- ICICI Bank Limited - India
- SMG Consultants - Indonesia
- Indian Energy Exchange, India
- Goldman Sachs - Singapore
- Ministry of Transport, Egypt
- White Energy Company Limited
- European Bulk Services B.V. - Netherlands
- Indogreen Group - Indonesia
- Posco Energy - South Korea
- Bhushan Steel Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Baramulti Group, Indonesia
- SN Aboitiz Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Star Paper Mills Limited - India
- Riau Bara Harum - Indonesia
- The State Trading Corporation of India Ltd
- Cement Manufacturers Association - India
- Price Waterhouse Coopers - Russia
- Globalindo Alam Lestari - Indonesia
- SMC Global Power, Philippines
- Cigading International Bulk Terminal - Indonesia
- Lanco Infratech Ltd - India
- Australian Coal Association
- Simpson Spence & Young - Indonesia
- MS Steel International - UAE
- New Zealand Coal & Carbon
- Central Electricity Authority - India
- Eastern Coal Council - USA
- Indonesian Coal Mining Association
- Vedanta Resources Plc - India
- Xindia Steels Limited - India
- GMR Energy Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Tata Chemicals Ltd - India
- IEA Clean Coal Centre - UK
- Energy Link Ltd, New Zealand
- Attock Cement Pakistan Limited
- Australian Commodity Traders Exchange
- Alfred C Toepfer International GmbH - Germany
- LBH Netherlands Bv - Netherlands
- Energy Development Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Uttam Galva Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Edison Trading Spa - Italy
- Ambuja Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- GAC Shipping (India) Pvt Ltd
- Kumho Petrochemical, South Korea
- Commonwealth Bank - Australia
- Global Business Power Corporation, Philippines
- London Commodity Brokers - England
- Kartika Selabumi Mining - Indonesia
- Makarim & Taira - Indonesia
- Sree Jayajothi Cements Limited - India
- VISA Power Limited - India
- Kobexindo Tractors - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Metalloyd Limited - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- Minerals Council of Australia
- Gujarat Sidhee Cement - India
- Sinarmas Energy and Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Agrawal Coal Company - India
- Binh Thuan Hamico - Vietnam
- Videocon Industries ltd - India
- Mintek Dendrill Indonesia
- Tamil Nadu electricity Board
- Semirara Mining Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Meralco Power Generation, Philippines
- OPG Power Generation Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Grasim Industreis Ltd - India
- India Bulls Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- Siam City Cement - Thailand
- Anglo American - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- Directorate Of Revenue Intelligence - India
- Jindal Steel & Power Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Heidelberg Cement - Germany
- Jaiprakash Power Ventures ltd
- Indian Oil Corporation Limited
- Renaissance Capital - South Africa
- Parry Sugars Refinery, India
- Sindya Power Generating Company Private Ltd
- Thai Mozambique Logistica
- Kaltim Prima Coal - Indonesia
- Interocean Group of Companies - India
- Straits Asia Resources Limited - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coalindo Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Port Waratah Coal Services - Australia
- Trasteel International SA, Italy
- Kepco SPC Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Bharathi Cement Corporation - India
- CNBM International Corporation - China
- Rio Tinto Coal - Australia
- Marubeni Corporation - India
- Banpu Public Company Limited - Thailand
- Africa Commodities Group - South Africa
- Larsen & Toubro Limited - India
- Essar Steel Hazira Ltd - India
- The University of Queensland
- Electricity Authority, New Zealand
- Samtan Co., Ltd - South Korea
- PTC India Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Singapore Mercantile Exchange
- Gujarat Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Dalmia Cement Bharat India
- Meenaskhi Energy Private Limited - India
- The Treasury - Australian Government
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maheswari Brothers Coal Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Vizag Seaport Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Chamber of Mines of South Africa
- McConnell Dowell - Australia
- Independent Power Producers Association of India
- Sical Logistics Limited - India
- Bangladesh Power Developement Board
- ASAPP Information Group - India
- Asmin Koalindo Tuhup - Indonesia
- Chettinad Cement Corporation Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Oldendorff Carriers - Singapore
- TeaM Sual Corporation - Philippines
- Latin American Coal - Colombia
- Power Finance Corporation Ltd., India
- Bukit Asam (Persero) Tbk - Indonesia
- PowerSource Philippines DevCo
- Timah Investasi Mineral - Indoneisa
- Mercator Lines Limited - India
- Eastern Energy - Thailand
- Deloitte Consulting - India
- Kideco Jaya Agung - Indonesia
- Ministry of Finance - Indonesia
- Planning Commission, India
- PNOC Exploration Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Leighton Contractors Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Standard Chartered Bank - UAE
- Romanian Commodities Exchange
- Kohat Cement Company Ltd. - Pakistan
- Karaikal Port Pvt Ltd - India
- Indika Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Aditya Birla Group - India
- Semirara Mining and Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Antam Resourcindo - Indonesia
- Bukit Baiduri Energy - Indonesia
- Wilmar Investment Holdings
- Thiess Contractors Indonesia
- Carbofer General Trading SA - India
- Krishnapatnam Port Company Ltd. - India
- Electricity Generating Authority of Thailand
- Sakthi Sugars Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Parliament of New Zealand
- Global Coal Blending Company Limited - Australia
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