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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, 04 April 16
CAPE INDEX JUMPED 70% WEEK ON WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities continued to rose this week.
The freight market was ...
Friday, 01 April 16
ASSESSING THE DRY BULK MARKET AT ROCK BOTTOM - CLARKSONS
While the opening months of the year are typically a weak period for the dry bulk market, the downturn so far this year has been severe. Earnings h ...
Friday, 01 April 16
NINE AM - TIME TO GET AN INDONESIAN LANGUAGE VERSION OF YOUR CHARTERPARTIES - CLYDE & CO
KNOWLEDGE TO ELEVATE
For several years, Indonesian law (Article 31, Law Number 24 of 2009) has required that memoranda of understanding (" ...
Friday, 01 April 16
U.S. COAL PRODUCTION UP SLIGHTLY WEEK OVER WEEK - EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 11.6 million shor ...
Thursday, 31 March 16
CAPE: ANOTHER UNEVENTFUL WEEK WITH FIXTURES CONCLUDED AT LAST DONE LEVELS - FEARNLEYS
Cape
Another uneventful week with fixtures concluded at last done levels, CS levels remain around the USD 3 mark, whilst C3 is still just short o ...
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- SMG Consultants - Indonesia
- White Energy Company Limited
- London Commodity Brokers - England
- Central Java Power - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Attock Cement Pakistan Limited
- Ambuja Cements Ltd - India
- Power Finance Corporation Ltd., India
- GAC Shipping (India) Pvt Ltd
- Carbofer General Trading SA - India
- Videocon Industries ltd - India
- Formosa Plastics Group - Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Salva Resources Pvt Ltd - India
- Chamber of Mines of South Africa
- Independent Power Producers Association of India
- Edison Trading Spa - Italy
- Parliament of New Zealand
- Jaiprakash Power Ventures ltd
- Kalimantan Lumbung Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Gujarat Sidhee Cement - India
- Borneo Indobara - Indonesia
- PowerSource Philippines DevCo
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- Maharashtra Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Petron Corporation, Philippines
- VISA Power Limited - India
- Coastal Gujarat Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- PNOC Exploration Corporation - Philippines
- Planning Commission, India
- Barasentosa Lestari - Indonesia
- Posco Energy - South Korea
- Electricity Authority, New Zealand
- Rio Tinto Coal - Australia
- Banpu Public Company Limited - Thailand
- Xindia Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Wood Mackenzie - Singapore
- Bhatia International Limited - India
- International Coal Ventures Pvt Ltd - India
- Interocean Group of Companies - India
- Ministry of Transport, Egypt
- Georgia Ports Authority, United States
- Australian Coal Association
- Riau Bara Harum - Indonesia
- New Zealand Coal & Carbon
- Deloitte Consulting - India
- AsiaOL BioFuels Corp., Philippines
- Dalmia Cement Bharat India
- Maheswari Brothers Coal Limited - India
- McConnell Dowell - Australia
- Bhoruka Overseas - Indonesia
- Manunggal Multi Energi - Indonesia
- Bharathi Cement Corporation - India
- Indian Energy Exchange, India
- Madhucon Powers Ltd - India
- Aditya Birla Group - India
- European Bulk Services B.V. - Netherlands
- Rashtriya Ispat Nigam Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Commonwealth Bank - Australia
- Bukit Baiduri Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Chettinad Cement Corporation Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Finance - Indonesia
- Grasim Industreis Ltd - India
- Bayan Resources Tbk. - Indonesia
- Bangladesh Power Developement Board
- Aboitiz Power Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Renaissance Capital - South Africa
- IEA Clean Coal Centre - UK
- Thai Mozambique Logistica
- Metalloyd Limited - United Kingdom
- Energy Development Corp, Philippines
- Makarim & Taira - Indonesia
- Directorate Of Revenue Intelligence - India
- Simpson Spence & Young - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Star Paper Mills Limited - India
- Semirara Mining Corp, Philippines
- Bulk Trading Sa - Switzerland
- Agrawal Coal Company - India
- Toyota Tsusho Corporation, Japan
- Iligan Light & Power Inc, Philippines
- ICICI Bank Limited - India
- Standard Chartered Bank - UAE
- Economic Council, Georgia
- Petrochimia International Co. Ltd.- Taiwan
- Latin American Coal - Colombia
- Singapore Mercantile Exchange
- Baramulti Group, Indonesia
- Global Green Power PLC Corporation, Philippines
- Eastern Coal Council - USA
- India Bulls Power Limited - India
- GMR Energy Limited - India
- Jindal Steel & Power Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Tata Chemicals Ltd - India
- South Luzon Thermal Energy Corporation
- Eastern Energy - Thailand
- Larsen & Toubro Limited - India
- Kapuas Tunggal Persada - Indonesia
- Anglo American - United Kingdom
- Electricity Generating Authority of Thailand
- CNBM International Corporation - China
- Timah Investasi Mineral - Indoneisa
- Mercator Lines Limited - India
- PetroVietnam Power Coal Import and Supply Company
- ASAPP Information Group - India
- Sree Jayajothi Cements Limited - India
- Goldman Sachs - Singapore
- Antam Resourcindo - Indonesia
- TeaM Sual Corporation - Philippines
- Sakthi Sugars Limited - India
- Heidelberg Cement - Germany
- Cigading International Bulk Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GVK Power & Infra Limited - India
- Marubeni Corporation - India
- The Treasury - Australian Government
- SMC Global Power, Philippines
- Parry Sugars Refinery, India
- Bahari Cakrawala Sebuku - Indonesia
- Savvy Resources Ltd - HongKong
- Sinarmas Energy and Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Oldendorff Carriers - Singapore
- Sical Logistics Limited - India
- Samtan Co., Ltd - South Korea
- Medco Energi Mining Internasional
- Pendopo Energi Batubara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Karaikal Port Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Africa Commodities Group - South Africa
- LBH Netherlands Bv - Netherlands
- Mercuria Energy - Indonesia
- Altura Mining Limited, Indonesia
- MS Steel International - UAE
- Indian Oil Corporation Limited
- Vedanta Resources Plc - India
- Vizag Seaport Private Limited - India
- Straits Asia Resources Limited - Singapore
- Mjunction Services Limited - India
- Trasteel International SA, Italy
- Bhushan Steel Limited - India
- Orica Australia Pty. Ltd.
- TNB Fuel Sdn Bhd - Malaysia
- The State Trading Corporation of India Ltd
- Binh Thuan Hamico - Vietnam
- Merrill Lynch Commodities Europe
- Asmin Koalindo Tuhup - Indonesia
- Kideco Jaya Agung - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Energy Link Ltd, New Zealand
- Meenaskhi Energy Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karbindo Abesyapradhi - Indoneisa
- Meralco Power Generation, Philippines
- Coalindo Energy - Indonesia
- Cement Manufacturers Association - India
- Billiton Holdings Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Indonesian Coal Mining Association
- Leighton Contractors Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Intertek Mineral Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bukit Makmur.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IHS Mccloskey Coal Group - USA
- Ministry of Mines - Canada
- Sojitz Corporation - Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Port Waratah Coal Services - Australia
- Tamil Nadu electricity Board
- Central Electricity Authority - India
- Kepco SPC Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- CIMB Investment Bank - Malaysia
- OPG Power Generation Pvt Ltd - India
- PTC India Limited - India
- Coal and Oil Company - UAE
- Siam City Cement - Thailand
- Price Waterhouse Coopers - Russia
- Lanco Infratech Ltd - India
- Thiess Contractors Indonesia
- Australian Commodity Traders Exchange
- Kaltim Prima Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Essar Steel Hazira Ltd - India
- SN Aboitiz Power Inc, Philippines
- Wilmar Investment Holdings
- Minerals Council of Australia
- Indika Energy - Indonesia
- Mintek Dendrill Indonesia
- Global Coal Blending Company Limited - Australia
- Orica Mining Services - Indonesia
- Romanian Commodities Exchange
- Kumho Petrochemical, South Korea
- Global Business Power Corporation, Philippines
- Malabar Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- The University of Queensland
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