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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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Tuesday, 03 May 16
HOW TO AVOID THE LATEST CARGO FRAUDS - BIMCO
BIMCO receives regular reports from members around the world about cargo fraud. This week alone we have had two reports of cargoes being fixed (or ...
Monday, 02 May 16
INDIA'S GANGAVARAM PORT SETS ALL INDIA RECORD FOR NON-COKING COAL DISCHARGE
COALspot.com: Gangavaram Port, the deepest and the most modern port in India, has created yet another historical milestone record by discharging 15 ...
Monday, 02 May 16
CS (I) 5000 GAR COAL INDEX CLOSES 0.11% HIGHER, 5700 GAR COAL RISES 0.07% W/W
COALspot.com: Average 5000 GAR coal index of Indonesian origin up 0.28 percent week over week to averaging $38.78 per ton on this past Friday, acco ...
Monday, 02 May 16
FREIGHT RATES ARE EXPECTED TO BE FLAT TO SOFT THIS WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities continued to rose this week.
The freight market was ...
Saturday, 30 April 16
40 YEARS OF HANDLING COAL AT THE BTW IN WILHELMSHAVEN UNDER THE RHENUS FLAG
Press Release: The first bulk carrier with coal on board docked at the Bulk Terminal Wilhelmshaven (BTW), which is operated by Rhenus Midgar ...
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- White Energy Company Limited
- Therma Luzon, Inc, Philippines
- The Treasury - Australian Government
- Directorate Of Revenue Intelligence - India
- Jorong Barutama Greston.PT - Indonesia
- Coalindo Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Petron Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- Larsen & Toubro Limited - India
- PowerSource Philippines DevCo
- Kepco SPC Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Port Waratah Coal Services - Australia
- Kobexindo Tractors - Indoneisa
- Xindia Steels Limited - India
- TeaM Sual Corporation - Philippines
- Wood Mackenzie - Singapore
- Mjunction Services Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Coastal Gujarat Power Limited - India
- Vizag Seaport Private Limited - India
- Lanco Infratech Ltd - India
- Parry Sugars Refinery, India
- Power Finance Corporation Ltd., India
- Bhoruka Overseas - Indonesia
- Mintek Dendrill Indonesia
- Makarim & Taira - Indonesia
- Indogreen Group - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Deloitte Consulting - India
- Asmin Koalindo Tuhup - Indonesia
- Heidelberg Cement - Germany
- Gujarat Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- San Jose City I Power Corp, Philippines
- Eastern Coal Council - USA
- Manunggal Multi Energi - Indonesia
- Samtan Co., Ltd - South Korea
- Orica Australia Pty. Ltd.
- OPG Power Generation Pvt Ltd - India
- MS Steel International - UAE
- Jindal Steel & Power Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Kohat Cement Company Ltd. - Pakistan
- Australian Commodity Traders Exchange
- Kumho Petrochemical, South Korea
- Altura Mining Limited, Indonesia
- Banpu Public Company Limited - Thailand
- Oldendorff Carriers - Singapore
- Tamil Nadu electricity Board
- Anglo American - United Kingdom
- Bharathi Cement Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- Sindya Power Generating Company Private Ltd
- Baramulti Group, Indonesia
- Sarangani Energy Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bukit Makmur.PT - Indonesia
- Cement Manufacturers Association - India
- Wilmar Investment Holdings
- Carbofer General Trading SA - India
- Central Electricity Authority - India
- Siam City Cement - Thailand
- CNBM International Corporation - China
- Sakthi Sugars Limited - India
- Indonesian Coal Mining Association
- Mercator Lines Limited - India
- Binh Thuan Hamico - Vietnam
- IEA Clean Coal Centre - UK
- Parliament of New Zealand
- Gujarat Sidhee Cement - India
- Uttam Galva Steels Limited - India
- Karaikal Port Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- GVK Power & Infra Limited - India
- Borneo Indobara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Indika Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Price Waterhouse Coopers - Russia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The State Trading Corporation of India Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Development Corp, Philippines
- Dalmia Cement Bharat India
- Standard Chartered Bank - UAE
- SMG Consultants - Indonesia
- Madhucon Powers Ltd - India
- Aditya Birla Group - India
- IHS Mccloskey Coal Group - USA
- Karbindo Abesyapradhi - Indoneisa
- Star Paper Mills Limited - India
- Chamber of Mines of South Africa
- Kapuas Tunggal Persada - Indonesia
- Minerals Council of Australia
- CIMB Investment Bank - Malaysia
- Independent Power Producers Association of India
- Interocean Group of Companies - India
- Thai Mozambique Logistica
- ICICI Bank Limited - India
- Simpson Spence & Young - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Ministry of Finance - Indonesia
- European Bulk Services B.V. - Netherlands
- ASAPP Information Group - India
- Sojitz Corporation - Japan
- Intertek Mineral Services - Indonesia
- Renaissance Capital - South Africa
- Jaiprakash Power Ventures ltd
- Meralco Power Generation, Philippines
- Metalloyd Limited - United Kingdom
- Bukit Baiduri Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Planning Commission, India
- Coal and Oil Company - UAE
- Maheswari Brothers Coal Limited - India
- New Zealand Coal & Carbon
- Bayan Resources Tbk. - Indonesia
- Vedanta Resources Plc - India
- The University of Queensland
- Central Java Power - Indonesia
- Ministry of Transport, Egypt
- India Bulls Power Limited - India
- SN Aboitiz Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- GAC Shipping (India) Pvt Ltd
- South Luzon Thermal Energy Corporation
- Semirara Mining Corp, Philippines
- Eastern Energy - Thailand
- Global Coal Blending Company Limited - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Toyota Tsusho Corporation, Japan
- Sical Logistics Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- London Commodity Brokers - England
- Thiess Contractors Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Mines - Canada
- PTC India Limited - India
- International Coal Ventures Pvt Ltd - India
- Commonwealth Bank - Australia
- Riau Bara Harum - Indonesia
- Indian Energy Exchange, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Economic Council, Georgia
- Attock Cement Pakistan Limited
- Rashtriya Ispat Nigam Limited - India
- Bhushan Steel Limited - India
- Georgia Ports Authority, United States
- Energy Link Ltd, New Zealand
- Siam City Cement PLC, Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bangladesh Power Developement Board
- Ind-Barath Power Infra Limited - India
- SMC Global Power, Philippines
- Merrill Lynch Commodities Europe
- Trasteel International SA, Italy
- Chettinad Cement Corporation Ltd - India
- Kideco Jaya Agung - Indonesia
- Bulk Trading Sa - Switzerland
- Grasim Industreis Ltd - India
- Sree Jayajothi Cements Limited - India
- Ceylon Electricity Board - Sri Lanka
- Edison Trading Spa - Italy
- Global Business Power Corporation, Philippines
- Singapore Mercantile Exchange
- Pendopo Energi Batubara - Indonesia
- Africa Commodities Group - South Africa
- Romanian Commodities Exchange
- Formosa Plastics Group - Taiwan
- Marubeni Corporation - India
- Barasentosa Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Posco Energy - South Korea
- Goldman Sachs - Singapore
- Agrawal Coal Company - India
- Neyveli Lignite Corporation Ltd, - India
- Directorate General of MIneral and Coal - Indonesia
- Latin American Coal - Colombia
- Rio Tinto Coal - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Medco Energi Mining Internasional
- Malabar Cements Ltd - India
- McConnell Dowell - Australia
- GMR Energy Limited - India
- LBH Netherlands Bv - Netherlands
- Indian Oil Corporation Limited
- Straits Asia Resources Limited - Singapore
- Ambuja Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Essar Steel Hazira Ltd - India
- Tata Chemicals Ltd - India
- Videocon Industries ltd - India
- Mercuria Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Cigading International Bulk Terminal - Indonesia
- Australian Coal Association
- Semirara Mining and Power Corporation, Philippines
- Bhatia International Limited - India
- Electricity Generating Authority of Thailand
- Electricity Authority, New Zealand
- Savvy Resources Ltd - HongKong
- Meenaskhi Energy Private Limited - India
- Salva Resources Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- VISA Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
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