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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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Monday, 18 April 16
SOUTH KOREA STATE-OWNED UTILITY KOMIPO INVITES COAL BIDS FOR BORYEONG POWER PLANT
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 70,000 Metric Tons of 4,600 kcal/kg NAR coal for ...
Monday, 18 April 16
SOUTH AFRICA RB1 COAL HAS LOST GROUND IN INDIA; RB2 MAY LOSE GRIP IF THE PRICE CROSSES US$ 50 A TON - TRADERS
COALspot.com: Indian coal consumers preferred to buy South Africa RB2 coal instead of RB1 coal recent months due to RB2's low CFR price level. ...
Monday, 18 April 16
CAPESIZE INDEX ROSE 44.66 PER CENT WEEK OVER WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities continued to rose this week.
The freight market was ...
Friday, 15 April 16
PANAMAX MARKET CONTINUES TO FIRM - FEARNLEYS
Cape
It has been a positive freight market for the past few weeks, however, this week the market is taking a small breather, says Fearnleys in it ...
Friday, 15 April 16
U.S WEEKLY COAL OUTPUT FALLS ACROSS ALL BASINS - EIA
COALspot.com – U.S the world’s second largest coal producer has produced approximately totaled an estimated 10.2 million short tons (mm ...
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- Manunggal Multi Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Anglo American - United Kingdom
- GMR Energy Limited - India
- PTC India Limited - India
- Wilmar Investment Holdings
- Metalloyd Limited - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Coal and Oil Company - UAE
- Bharathi Cement Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- VISA Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Power Finance Corporation Ltd., India
- Planning Commission, India
- Ind-Barath Power Infra Limited - India
- Ministry of Mines - Canada
- Cigading International Bulk Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Salva Resources Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Kohat Cement Company Ltd. - Pakistan
- Bahari Cakrawala Sebuku - Indonesia
- Sindya Power Generating Company Private Ltd
- Mintek Dendrill Indonesia
- CIMB Investment Bank - Malaysia
- European Bulk Services B.V. - Netherlands
- Coalindo Energy - Indonesia
- Ministry of Transport, Egypt
- Riau Bara Harum - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Cement Manufacturers Association - India
- Bukit Asam (Persero) Tbk - Indonesia
- Makarim & Taira - Indonesia
- Sree Jayajothi Cements Limited - India
- OPG Power Generation Pvt Ltd - India
- McConnell Dowell - Australia
- Thai Mozambique Logistica
- Orica Mining Services - Indonesia
- Altura Mining Limited, Indonesia
- Electricity Authority, New Zealand
- Indian Energy Exchange, India
- Goldman Sachs - Singapore
- Attock Cement Pakistan Limited
- Directorate Of Revenue Intelligence - India
- Interocean Group of Companies - India
- Deloitte Consulting - India
- Independent Power Producers Association of India
- Wood Mackenzie - Singapore
- Sical Logistics Limited - India
- Price Waterhouse Coopers - Russia
- Baramulti Group, Indonesia
- Mercuria Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Antam Resourcindo - Indonesia
- Essar Steel Hazira Ltd - India
- Electricity Generating Authority of Thailand
- Mercator Lines Limited - India
- Xindia Steels Limited - India
- Edison Trading Spa - Italy
- Economic Council, Georgia
- Kumho Petrochemical, South Korea
- Maheswari Brothers Coal Limited - India
- MS Steel International - UAE
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- Grasim Industreis Ltd - India
- Ministry of Finance - Indonesia
- Mjunction Services Limited - India
- Leighton Contractors Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- Banpu Public Company Limited - Thailand
- Sinarmas Energy and Mining - Indonesia
- Indonesian Coal Mining Association
- Karbindo Abesyapradhi - Indoneisa
- Uttam Galva Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Eastern Coal Council - USA
- White Energy Company Limited
- Vijayanagar Sugar Pvt Ltd - India
- Renaissance Capital - South Africa
- Karaikal Port Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Agrawal Coal Company - India
- AsiaOL BioFuels Corp., Philippines
- GVK Power & Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Therma Luzon, Inc, Philippines
- London Commodity Brokers - England
- PNOC Exploration Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Australian Coal Association
- Asmin Koalindo Tuhup - Indonesia
- Commonwealth Bank - Australia
- Kobexindo Tractors - Indoneisa
- Bangladesh Power Developement Board
- Kalimantan Lumbung Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bhoruka Overseas - Indonesia
- Indika Energy - Indonesia
- Chamber of Mines of South Africa
- San Jose City I Power Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Jindal Steel & Power Ltd - India
- Aditya Birla Group - India
- Romanian Commodities Exchange
- Bhatia International Limited - India
- Barasentosa Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Merrill Lynch Commodities Europe
- Larsen & Toubro Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Rashtriya Ispat Nigam Limited - India
- Tata Chemicals Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Indo Tambangraya Megah - Indonesia
- New Zealand Coal & Carbon
- Minerals Council of Australia
- Gujarat Electricity Regulatory Commission - India
- Parliament of New Zealand
- Central Java Power - Indonesia
- Orica Australia Pty. Ltd.
- Posco Energy - South Korea
- Coastal Gujarat Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ceylon Electricity Board - Sri Lanka
- Jaiprakash Power Ventures ltd
- Dalmia Cement Bharat India
- Global Green Power PLC Corporation, Philippines
- Heidelberg Cement - Germany
- Singapore Mercantile Exchange
- Globalindo Alam Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Krishnapatnam Port Company Ltd. - India
- Rio Tinto Coal - Australia
- Indian Oil Corporation Limited
- PetroVietnam Power Coal Import and Supply Company
- Vedanta Resources Plc - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petron Corporation, Philippines
- Siam City Cement PLC, Thailand
- Holcim Trading Pte Ltd - Singapore
- Sakthi Sugars Limited - India
- CNBM International Corporation - China
- Billiton Holdings Pty Ltd - Australia
- Tamil Nadu electricity Board
- Ambuja Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Trasteel International SA, Italy
- SMG Consultants - Indonesia
- Eastern Energy - Thailand
- Energy Link Ltd, New Zealand
- Central Electricity Authority - India
- SN Aboitiz Power Inc, Philippines
- Borneo Indobara - Indonesia
- Meenaskhi Energy Private Limited - India
- Kartika Selabumi Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Medco Energi Mining Internasional
- Australian Commodity Traders Exchange
- TNB Fuel Sdn Bhd - Malaysia
- ASAPP Information Group - India
- Meralco Power Generation, Philippines
- The Treasury - Australian Government
- PowerSource Philippines DevCo
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMC Global Power, Philippines
- Sojitz Corporation - Japan
- Star Paper Mills Limited - India
- Madhucon Powers Ltd - India
- Kaltim Prima Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Marubeni Corporation - India
- Africa Commodities Group - South Africa
- LBH Netherlands Bv - Netherlands
- Chettinad Cement Corporation Ltd - India
- Oldendorff Carriers - Singapore
- Bhushan Steel Limited - India
- Siam City Cement - Thailand
- Thiess Contractors Indonesia
- Standard Chartered Bank - UAE
- Miang Besar Coal Terminal - Indonesia
- Energy Development Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Carbofer General Trading SA - India
- IHS Mccloskey Coal Group - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Business Power Corporation, Philippines
- Indogreen Group - Indonesia
- Simpson Spence & Young - Indonesia
- Bukit Makmur.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Kepco SPC Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- India Bulls Power Limited - India
- Latin American Coal - Colombia
- Global Coal Blending Company Limited - Australia
- Bukit Baiduri Energy - Indonesia
- The University of Queensland
- Directorate General of MIneral and Coal - Indonesia
- Intertek Mineral Services - Indonesia
- IEA Clean Coal Centre - UK
- ICICI Bank Limited - India
- Samtan Co., Ltd - South Korea
- Parry Sugars Refinery, India
- Lanco Infratech Ltd - India
- Semirara Mining Corp, Philippines
- Georgia Ports Authority, United States
- South Luzon Thermal Energy Corporation
- Malabar Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Videocon Industries ltd - India
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