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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, 11 May 16
MARKET INSIGHT - KATERINA RESTIS
On Saturday 7th May, Riyadh replaced the long-serving oil minister of more than two decades, Ali-Al-Naimi, as part of a major government overhaul, ...
Tuesday, 10 May 16
VOLATILITY? VARIATION NO ENIGMA TO SHIPPING..... - CLARKSONS
Along with cyclicality, the other characteristic of the shipping markets which receives frequent mention is volatility. This is so evident that the ...
Monday, 09 May 16
INDONESIAN CS COAL INDICES UP CONTINUES; POSITIVE DIRECTION
COALspot.com: Average 5000 GAR coal index of Indonesian origin up 0.10 percent week over week to averaging $38.82 per ton on this past Wednesday, a ...
Monday, 09 May 16
DRY BULK SHIPPING TO WITNESS STEADY PROGRESS MOVING FORWARD ON THE BACK OF GROWING TRADE VOLUMES - BIMCO
In its latest short-term analysis of the shipping markets, BIMCO reiterated its optimism on the prospects of the dry bulk market moving forward. Ac ...
Monday, 09 May 16
BALTIC DRY INDEX ENDS WEEK ON A NEGATIVE NOTE
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities decline this week.
The freight market was weak and a ...
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- Madhucon Powers Ltd - India
- Jindal Steel & Power Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Petron Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Makarim & Taira - Indonesia
- SMG Consultants - Indonesia
- Anglo American - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- Larsen & Toubro Limited - India
- Toyota Tsusho Corporation, Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Star Paper Mills Limited - India
- Ceylon Electricity Board - Sri Lanka
- Merrill Lynch Commodities Europe
- Bharathi Cement Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- San Jose City I Power Corp, Philippines
- Therma Luzon, Inc, Philippines
- Antam Resourcindo - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Central Java Power - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Latin American Coal - Colombia
- India Bulls Power Limited - India
- Georgia Ports Authority, United States
- Karbindo Abesyapradhi - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Grasim Industreis Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Binh Thuan Hamico - Vietnam
- Kideco Jaya Agung - Indonesia
- Ambuja Cements Ltd - India
- SMC Global Power, Philippines
- Siam City Cement - Thailand
- Dalmia Cement Bharat India
- Kumho Petrochemical, South Korea
- Xindia Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- Sindya Power Generating Company Private Ltd
- Vedanta Resources Plc - India
- European Bulk Services B.V. - Netherlands
- Bhoruka Overseas - Indonesia
- ASAPP Information Group - India
- Lanco Infratech Ltd - India
- Tata Chemicals Ltd - India
- Bhushan Steel Limited - India
- Romanian Commodities Exchange
- PowerSource Philippines DevCo
- Alfred C Toepfer International GmbH - Germany
- Banpu Public Company Limited - Thailand
- Indogreen Group - Indonesia
- Economic Council, Georgia
- Chettinad Cement Corporation Ltd - India
- Thai Mozambique Logistica
- The University of Queensland
- Mintek Dendrill Indonesia
- SN Aboitiz Power Inc, Philippines
- Attock Cement Pakistan Limited
- Karaikal Port Pvt Ltd - India
- Singapore Mercantile Exchange
- Standard Chartered Bank - UAE
- Oldendorff Carriers - Singapore
- Posco Energy - South Korea
- Bhatia International Limited - India
- AsiaOL BioFuels Corp., Philippines
- Indian Oil Corporation Limited
- Miang Besar Coal Terminal - Indonesia
- New Zealand Coal & Carbon
- Indian Energy Exchange, India
- GMR Energy Limited - India
- Carbofer General Trading SA - India
- Sakthi Sugars Limited - India
- Electricity Generating Authority of Thailand
- Wood Mackenzie - Singapore
- Power Finance Corporation Ltd., India
- Indika Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Marubeni Corporation - India
- Ministry of Mines - Canada
- Coalindo Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- Mercuria Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Intertek Mineral Services - Indonesia
- Meralco Power Generation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Trasteel International SA, Italy
- The State Trading Corporation of India Ltd
- Kepco SPC Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- IEA Clean Coal Centre - UK
- Sojitz Corporation - Japan
- Uttam Galva Steels Limited - India
- Planning Commission, India
- Maheswari Brothers Coal Limited - India
- Cigading International Bulk Terminal - Indonesia
- Altura Mining Limited, Indonesia
- Bulk Trading Sa - Switzerland
- Metalloyd Limited - United Kingdom
- Mjunction Services Limited - India
- Holcim Trading Pte Ltd - Singapore
- Aboitiz Power Corporation - Philippines
- Thiess Contractors Indonesia
- Indo Tambangraya Megah - Indonesia
- Parry Sugars Refinery, India
- Straits Asia Resources Limited - Singapore
- International Coal Ventures Pvt Ltd - India
- Rio Tinto Coal - Australia
- TNB Fuel Sdn Bhd - Malaysia
- OPG Power Generation Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Tamil Nadu electricity Board
- Indonesian Coal Mining Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Port Waratah Coal Services - Australia
- MS Steel International - UAE
- Billiton Holdings Pty Ltd - Australia
- VISA Power Limited - India
- Savvy Resources Ltd - HongKong
- White Energy Company Limited
- Simpson Spence & Young - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Sidhee Cement - India
- GAC Shipping (India) Pvt Ltd
- Formosa Plastics Group - Taiwan
- Heidelberg Cement - Germany
- Sinarmas Energy and Mining - Indonesia
- Deloitte Consulting - India
- Baramulti Group, Indonesia
- Goldman Sachs - Singapore
- Chamber of Mines of South Africa
- Sical Logistics Limited - India
- Sree Jayajothi Cements Limited - India
- Kaltim Prima Coal - Indonesia
- Videocon Industries ltd - India
- Manunggal Multi Energi - Indonesia
- Semirara Mining Corp, Philippines
- Australian Commodity Traders Exchange
- Medco Energi Mining Internasional
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Interocean Group of Companies - India
- Semirara Mining and Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Mercator Lines Limited - India
- CNBM International Corporation - China
- Price Waterhouse Coopers - Russia
- Wilmar Investment Holdings
- Bangladesh Power Developement Board
- Africa Commodities Group - South Africa
- PNOC Exploration Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Bukit Baiduri Energy - Indonesia
- Malabar Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Electricity Authority, New Zealand
- Energy Development Corp, Philippines
- Minerals Council of Australia
- Neyveli Lignite Corporation Ltd, - India
- Vijayanagar Sugar Pvt Ltd - India
- Independent Power Producers Association of India
- Essar Steel Hazira Ltd - India
- Eastern Energy - Thailand
- Globalindo Alam Lestari - Indonesia
- PTC India Limited - India
- Orica Australia Pty. Ltd.
- Global Green Power PLC Corporation, Philippines
- Ministry of Transport, Egypt
- ICICI Bank Limited - India
- Salva Resources Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Riau Bara Harum - Indonesia
- Borneo Indobara - Indonesia
- Global Coal Blending Company Limited - Australia
- Central Electricity Authority - India
- Pipit Mutiara Jaya. PT, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GVK Power & Infra Limited - India
- Agrawal Coal Company - India
- Renaissance Capital - South Africa
- London Commodity Brokers - England
- Krishnapatnam Port Company Ltd. - India
- The Treasury - Australian Government
- Petrochimia International Co. Ltd.- Taiwan
- Aditya Birla Group - India
- Bayan Resources Tbk. - Indonesia
- Ministry of Finance - Indonesia
- Australian Coal Association
- McConnell Dowell - Australia
- Kohat Cement Company Ltd. - Pakistan
- Barasentosa Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Commonwealth Bank - Australia
- TeaM Sual Corporation - Philippines
- Orica Mining Services - Indonesia
- Coal and Oil Company - UAE
- Sarangani Energy Corporation, Philippines
- Parliament of New Zealand
- Vizag Seaport Private Limited - India
- Cement Manufacturers Association - India
- Energy Link Ltd, New Zealand
- IHS Mccloskey Coal Group - USA
- Edison Trading Spa - Italy
- Directorate Of Revenue Intelligence - India
- Eastern Coal Council - USA
- Kartika Selabumi Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
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