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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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Friday, 22 April 16
U.S WEEKLY DOMESTIC COAL OUTPUT UP 8.2 PER CENT - EIA
COALspot.com – U.S the world’s second largest coal producer has produced approximately totaled an estimated 11.1 million short tons (mm ...
Thursday, 21 April 16
PANAMAX: A VERY HEALTHY NORTH ATLANTIC FOR BOTH ROUNDS AND FRONTHAUL
Capesize
Correcting after last week's quadrupling.
This year's highest daily average of USD 8000 came on the back of substantial pro ...
Wednesday, 20 April 16
2017 IS EXPECTED TO BE A MUCH BETTER YEAR FOR THE SHIPPING INDUSTRY - INTERMODAL
Some months ago we noted that all projections anticipated 2016 to be a better year from a macroeconomic point of view when compared to 2015. As we ...
Tuesday, 19 April 16
STARS STILL SHINING? KEY IMPORTERS THROUGH THE TELESCOPE - CLARKSONS
As the pace of growth in Chinese seaborne imports has slowed, and prospects for a return to stronger rates of expansion appear to have diminished, ...
Monday, 18 April 16
INDONESIAN 5000 GAR COAL INDEX DECLINE 1.43 PERCENT WEEK OVER WEEK - CS (I) COAL INDEX
COALspot.com: Average 5000 GAR coal index of Indonesian origin fell 1.43 percent week over week to averaging $38.65 per ton on this past Friday, ac ...
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- Ind-Barath Power Infra Limited - India
- Africa Commodities Group - South Africa
- The Treasury - Australian Government
- Indogreen Group - Indonesia
- Attock Cement Pakistan Limited
- Aboitiz Power Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Interocean Group of Companies - India
- Central Electricity Authority - India
- Sindya Power Generating Company Private Ltd
- Planning Commission, India
- Bayan Resources Tbk. - Indonesia
- CNBM International Corporation - China
- Trasteel International SA, Italy
- PNOC Exploration Corporation - Philippines
- SMG Consultants - Indonesia
- New Zealand Coal & Carbon
- European Bulk Services B.V. - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Larsen & Toubro Limited - India
- Vizag Seaport Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- Georgia Ports Authority, United States
- Goldman Sachs - Singapore
- Iligan Light & Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Agrawal Coal Company - India
- Chamber of Mines of South Africa
- Kumho Petrochemical, South Korea
- Kepco SPC Power Corporation, Philippines
- Coal and Oil Company - UAE
- Intertek Mineral Services - Indonesia
- Global Business Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Ceylon Electricity Board - Sri Lanka
- Economic Council, Georgia
- Siam City Cement - Thailand
- Energy Development Corp, Philippines
- Carbofer General Trading SA - India
- Banpu Public Company Limited - Thailand
- Kobexindo Tractors - Indoneisa
- Bhoruka Overseas - Indonesia
- Anglo American - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- Indonesian Coal Mining Association
- Malabar Cements Ltd - India
- Mjunction Services Limited - India
- Sakthi Sugars Limited - India
- Grasim Industreis Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- PowerSource Philippines DevCo
- Metalloyd Limited - United Kingdom
- Bulk Trading Sa - Switzerland
- Marubeni Corporation - India
- Bangladesh Power Developement Board
- Pendopo Energi Batubara - Indonesia
- Indian Oil Corporation Limited
- Ministry of Mines - Canada
- Directorate General of MIneral and Coal - Indonesia
- Formosa Plastics Group - Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Rio Tinto Coal - Australia
- Sical Logistics Limited - India
- Karaikal Port Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Petron Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Thai Mozambique Logistica
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Barasentosa Lestari - Indonesia
- VISA Power Limited - India
- Global Green Power PLC Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Therma Luzon, Inc, Philippines
- Indian Energy Exchange, India
- Salva Resources Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Kapuas Tunggal Persada - Indonesia
- International Coal Ventures Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Gujarat Sidhee Cement - India
- Kideco Jaya Agung - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- LBH Netherlands Bv - Netherlands
- Bhushan Steel Limited - India
- Energy Link Ltd, New Zealand
- Uttam Galva Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Essar Steel Hazira Ltd - India
- San Jose City I Power Corp, Philippines
- Ministry of Finance - Indonesia
- Electricity Authority, New Zealand
- Posco Energy - South Korea
- India Bulls Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- PetroVietnam Power Coal Import and Supply Company
- The University of Queensland
- Australian Coal Association
- Sojitz Corporation - Japan
- Krishnapatnam Port Company Ltd. - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Latin American Coal - Colombia
- Bukit Asam (Persero) Tbk - Indonesia
- Xindia Steels Limited - India
- Price Waterhouse Coopers - Russia
- SMC Global Power, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Orica Mining Services - Indonesia
- The State Trading Corporation of India Ltd
- Bharathi Cement Corporation - India
- Videocon Industries ltd - India
- Maheswari Brothers Coal Limited - India
- Edison Trading Spa - Italy
- GN Power Mariveles Coal Plant, Philippines
- Coastal Gujarat Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Deloitte Consulting - India
- Bukit Makmur.PT - Indonesia
- PTC India Limited - India
- Parliament of New Zealand
- Bhatia International Limited - India
- Oldendorff Carriers - Singapore
- ICICI Bank Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Billiton Holdings Pty Ltd - Australia
- Leighton Contractors Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Star Paper Mills Limited - India
- SN Aboitiz Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Aditya Birla Group - India
- Kalimantan Lumbung Energi - Indonesia
- Mercuria Energy - Indonesia
- Tamil Nadu electricity Board
- Thiess Contractors Indonesia
- TeaM Sual Corporation - Philippines
- Siam City Cement PLC, Thailand
- Meenaskhi Energy Private Limited - India
- Timah Investasi Mineral - Indoneisa
- Australian Commodity Traders Exchange
- Central Java Power - Indonesia
- Medco Energi Mining Internasional
- Commonwealth Bank - Australia
- Binh Thuan Hamico - Vietnam
- Global Coal Blending Company Limited - Australia
- Altura Mining Limited, Indonesia
- Wood Mackenzie - Singapore
- Independent Power Producers Association of India
- IEA Clean Coal Centre - UK
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Singapore Mercantile Exchange
- Indo Tambangraya Megah - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Dalmia Cement Bharat India
- Orica Australia Pty. Ltd.
- Savvy Resources Ltd - HongKong
- White Energy Company Limited
- Bukit Baiduri Energy - Indonesia
- Ministry of Transport, Egypt
- Sree Jayajothi Cements Limited - India
- Borneo Indobara - Indonesia
- London Commodity Brokers - England
- Baramulti Group, Indonesia
- Vedanta Resources Plc - India
- Jindal Steel & Power Ltd - India
- Antam Resourcindo - Indonesia
- CIMB Investment Bank - Malaysia
- Makarim & Taira - Indonesia
- Meralco Power Generation, Philippines
- Lanco Infratech Ltd - India
- Heidelberg Cement - Germany
- ASAPP Information Group - India
- Indika Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- McConnell Dowell - Australia
- Romanian Commodities Exchange
- Sarangani Energy Corporation, Philippines
- GMR Energy Limited - India
- Sinarmas Energy and Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Tata Chemicals Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Ambuja Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Coalindo Energy - Indonesia
- Renaissance Capital - South Africa
- Wilmar Investment Holdings
- Petrochimia International Co. Ltd.- Taiwan
- GVK Power & Infra Limited - India
- Parry Sugars Refinery, India
- Samtan Co., Ltd - South Korea
- Eastern Energy - Thailand
- OPG Power Generation Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Cigading International Bulk Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Jaiprakash Power Ventures ltd
- Mercator Lines Limited - India
- Cement Manufacturers Association - India
- Chettinad Cement Corporation Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Jorong Barutama Greston.PT - Indonesia
- Mintek Dendrill Indonesia
- Port Waratah Coal Services - Australia
- Semirara Mining and Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- MS Steel International - UAE
- Eastern Coal Council - USA
- Minerals Council of Australia
- Miang Besar Coal Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Standard Chartered Bank - UAE
- Alfred C Toepfer International GmbH - Germany
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