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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, 11 April 16
ON THE TIGHTROPE, IT CAN BE HARD TO KEEP YOUR BALANCE.... - CLARKSONS
Today’s headlines often point towards the impact of the demand side on the state of health of the shipping markets. But despite the fact that ...
Monday, 11 April 16
WEEKLY CS (I) COAL INDEX FOR 5700 GAR COAL UP 0.03 CENTS, OR ABOUT 0.06 PERCENT, TO $48.21 A TON
COALspot.com: Average 5000 GAR coal index of Indonesian origin fell 0.15 percent week over week to averaging $38.82 per ton on this past Friday, ac ...
Monday, 11 April 16
COAL IS NOT THE ENEMY TO FIGHT - ANDREA CLAVARINO, ASSOCARBONI
COALspot.com: “Coal is not the enemy to fight and electricity production from coal has an environmental impact in its lifecycle similar to na ...
Monday, 11 April 16
FORTY INDIAN COAL IMPORTERS UNDER THE DRI SCANNER FOR OVER-INVOICING : HINDU BUSINESS LINE
The Finance Ministry and the Directorate of Revenue Intelligence (DRI) of India are said to have stepped up investigations into the alleged over-in ...
Monday, 11 April 16
BDI ROSE TO ITS HIGHEST LEVEL IN FOUR MONTHS
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities continued to rose this week.
The freight market was ...
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- SN Aboitiz Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Videocon Industries ltd - India
- Siam City Cement PLC, Thailand
- Semirara Mining and Power Corporation, Philippines
- Deloitte Consulting - India
- Maheswari Brothers Coal Limited - India
- Ind-Barath Power Infra Limited - India
- Vizag Seaport Private Limited - India
- Iligan Light & Power Inc, Philippines
- Carbofer General Trading SA - India
- Gujarat Sidhee Cement - India
- Jindal Steel & Power Ltd - India
- Bukit Makmur.PT - Indonesia
- Merrill Lynch Commodities Europe
- Eastern Coal Council - USA
- Petrochimia International Co. Ltd.- Taiwan
- White Energy Company Limited
- MS Steel International - UAE
- Planning Commission, India
- Karbindo Abesyapradhi - Indoneisa
- Therma Luzon, Inc, Philippines
- Economic Council, Georgia
- ASAPP Information Group - India
- Riau Bara Harum - Indonesia
- Grasim Industreis Ltd - India
- Energy Link Ltd, New Zealand
- Sakthi Sugars Limited - India
- Antam Resourcindo - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coalindo Energy - Indonesia
- Orica Mining Services - Indonesia
- Bulk Trading Sa - Switzerland
- Mintek Dendrill Indonesia
- Ministry of Transport, Egypt
- Directorate General of MIneral and Coal - Indonesia
- Bhatia International Limited - India
- Vedanta Resources Plc - India
- Aditya Birla Group - India
- Pendopo Energi Batubara - Indonesia
- Trasteel International SA, Italy
- Sree Jayajothi Cements Limited - India
- International Coal Ventures Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Xindia Steels Limited - India
- Anglo American - United Kingdom
- Formosa Plastics Group - Taiwan
- Intertek Mineral Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Asmin Koalindo Tuhup - Indonesia
- Cement Manufacturers Association - India
- South Luzon Thermal Energy Corporation
- PNOC Exploration Corporation - Philippines
- Port Waratah Coal Services - Australia
- Edison Trading Spa - Italy
- Vijayanagar Sugar Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Indika Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- ICICI Bank Limited - India
- Eastern Energy - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Mercator Lines Limited - India
- Attock Cement Pakistan Limited
- Meenaskhi Energy Private Limited - India
- SMC Global Power, Philippines
- CNBM International Corporation - China
- Bangladesh Power Developement Board
- India Bulls Power Limited - India
- Parry Sugars Refinery, India
- Independent Power Producers Association of India
- Rashtriya Ispat Nigam Limited - India
- Makarim & Taira - Indonesia
- CIMB Investment Bank - Malaysia
- Banpu Public Company Limited - Thailand
- Kepco SPC Power Corporation, Philippines
- Dalmia Cement Bharat India
- Uttam Galva Steels Limited - India
- Petron Corporation, Philippines
- Indian Oil Corporation Limited
- Holcim Trading Pte Ltd - Singapore
- Electricity Authority, New Zealand
- Aboitiz Power Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Romanian Commodities Exchange
- Borneo Indobara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Metalloyd Limited - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Commonwealth Bank - Australia
- Jorong Barutama Greston.PT - Indonesia
- Star Paper Mills Limited - India
- Ministry of Finance - Indonesia
- VISA Power Limited - India
- Thiess Contractors Indonesia
- Lanco Infratech Ltd - India
- The Treasury - Australian Government
- Latin American Coal - Colombia
- Minerals Council of Australia
- Cigading International Bulk Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- Tata Chemicals Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Standard Chartered Bank - UAE
- Altura Mining Limited, Indonesia
- Mjunction Services Limited - India
- Straits Asia Resources Limited - Singapore
- Tamil Nadu electricity Board
- Indonesian Coal Mining Association
- Simpson Spence & Young - Indonesia
- TeaM Sual Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Samtan Co., Ltd - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Power Finance Corporation Ltd., India
- Electricity Generating Authority of Thailand
- Central Electricity Authority - India
- Karaikal Port Pvt Ltd - India
- Indogreen Group - Indonesia
- GVK Power & Infra Limited - India
- Barasentosa Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jaiprakash Power Ventures ltd
- Meralco Power Generation, Philippines
- Sindya Power Generating Company Private Ltd
- Energy Development Corp, Philippines
- Posco Energy - South Korea
- Malabar Cements Ltd - India
- Goldman Sachs - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Indo Tambangraya Megah - Indonesia
- Larsen & Toubro Limited - India
- Bhushan Steel Limited - India
- Savvy Resources Ltd - HongKong
- Kobexindo Tractors - Indoneisa
- Essar Steel Hazira Ltd - India
- Wood Mackenzie - Singapore
- Manunggal Multi Energi - Indonesia
- Rio Tinto Coal - Australia
- SMG Consultants - Indonesia
- Sical Logistics Limited - India
- Coastal Gujarat Power Limited - India
- Agrawal Coal Company - India
- Madhucon Powers Ltd - India
- Renaissance Capital - South Africa
- Sojitz Corporation - Japan
- Bahari Cakrawala Sebuku - Indonesia
- IEA Clean Coal Centre - UK
- Timah Investasi Mineral - Indoneisa
- The University of Queensland
- Australian Commodity Traders Exchange
- Bharathi Cement Corporation - India
- London Commodity Brokers - England
- AsiaOL BioFuels Corp., Philippines
- Chamber of Mines of South Africa
- Coal and Oil Company - UAE
- GMR Energy Limited - India
- European Bulk Services B.V. - Netherlands
- Orica Australia Pty. Ltd.
- Alfred C Toepfer International GmbH - Germany
- Singapore Mercantile Exchange
- Mercuria Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Indian Energy Exchange, India
- Global Business Power Corporation, Philippines
- Marubeni Corporation - India
- The State Trading Corporation of India Ltd
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Mines - Canada
- Georgia Ports Authority, United States
- Australian Coal Association
- Ambuja Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- PowerSource Philippines DevCo
- Bhoruka Overseas - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Central Java Power - Indonesia
- Africa Commodities Group - South Africa
- Oldendorff Carriers - Singapore
- Ceylon Electricity Board - Sri Lanka
- LBH Netherlands Bv - Netherlands
- GAC Shipping (India) Pvt Ltd
- Parliament of New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Sinarmas Energy and Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Medco Energi Mining Internasional
- Miang Besar Coal Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Toyota Tsusho Corporation, Japan
- Global Coal Blending Company Limited - Australia
- McConnell Dowell - Australia
- Kideco Jaya Agung - Indonesia
- Interocean Group of Companies - India
- Kaltim Prima Coal - Indonesia
- Kumho Petrochemical, South Korea
- Baramulti Group, Indonesia
- Wilmar Investment Holdings
- PTC India Limited - India
- Global Green Power PLC Corporation, Philippines
- Siam City Cement - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thai Mozambique Logistica
- Bukit Baiduri Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- New Zealand Coal & Carbon
- Bayan Resources Tbk. - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
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