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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, 07 March 16
FREIGHT MARKET MOVING POSITIVE; ALL SEGMENTS EXCEPT CAPE SHOWING A FIRM TREND
COALspot.com: The freight market was steady this past week and showing a firm trend for all segments except for Cape index.
The Baltic Dry Ind ...
Friday, 04 March 16
GLOBAL ECONOMY'S JITTERS ARE SLOWING DOWN SHIPPING EVEN FURTHER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The global economy’s shaky condition to say the least is now hampering growth and as a result demand for shipping is slowing down, something ...
Friday, 04 March 16
U.S. YEAR-TO-DATE COAL PRODUCTION TOTALED 109.3 MMST; 30.2% LOWER THAN THE COMPARABLE YEAR-TO-DATE COAL PRODUCTION IN 2015 - EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 13.1 million shor ...
Thursday, 03 March 16
INDIA'S BUDGET NOT ENOUGH TO BOOST STEELMAKERS' PROFITABILITY - FITCH RATINGS
COALspot.com: Fitch Ratings says that increase in proposed infrastructure spending in India's latest government budget is unlikely to provide a ...
Thursday, 03 March 16
BDI FURTHER STRENGTHENING; THE INCREASE IN RATES WAS NOT SUBSTANTIAL
COALspot.com: The BDI closed off on a positive note for a second week in a row, further strengthening the belief that the market might be bottoming ...
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- Mjunction Services Limited - India
- South Luzon Thermal Energy Corporation
- PowerSource Philippines DevCo
- PetroVietnam Power Coal Import and Supply Company
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kaltim Prima Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Mercator Lines Limited - India
- Sarangani Energy Corporation, Philippines
- ICICI Bank Limited - India
- Bangladesh Power Developement Board
- Sinarmas Energy and Mining - Indonesia
- Marubeni Corporation - India
- Latin American Coal - Colombia
- IHS Mccloskey Coal Group - USA
- Posco Energy - South Korea
- Formosa Plastics Group - Taiwan
- Thai Mozambique Logistica
- Orica Australia Pty. Ltd.
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- CIMB Investment Bank - Malaysia
- Australian Commodity Traders Exchange
- Rashtriya Ispat Nigam Limited - India
- Altura Mining Limited, Indonesia
- Gujarat Sidhee Cement - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Renaissance Capital - South Africa
- Iligan Light & Power Inc, Philippines
- Sical Logistics Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Asmin Koalindo Tuhup - Indonesia
- Wilmar Investment Holdings
- Tamil Nadu electricity Board
- Parliament of New Zealand
- Essar Steel Hazira Ltd - India
- Central Java Power - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Heidelberg Cement - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Coastal Gujarat Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Kideco Jaya Agung - Indonesia
- Minerals Council of Australia
- Alfred C Toepfer International GmbH - Germany
- Energy Development Corp, Philippines
- Simpson Spence & Young - Indonesia
- Therma Luzon, Inc, Philippines
- MS Steel International - UAE
- LBH Netherlands Bv - Netherlands
- Standard Chartered Bank - UAE
- Jaiprakash Power Ventures ltd
- Africa Commodities Group - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aditya Birla Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- White Energy Company Limited
- Indo Tambangraya Megah - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Transport, Egypt
- OPG Power Generation Pvt Ltd - India
- Madhucon Powers Ltd - India
- Aboitiz Power Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Banpu Public Company Limited - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Bayan Resources Tbk. - Indonesia
- Parry Sugars Refinery, India
- Indonesian Coal Mining Association
- New Zealand Coal & Carbon
- Bukit Baiduri Energy - Indonesia
- Indian Oil Corporation Limited
- Malabar Cements Ltd - India
- Singapore Mercantile Exchange
- Central Electricity Authority - India
- San Jose City I Power Corp, Philippines
- Indika Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Binh Thuan Hamico - Vietnam
- Trasteel International SA, Italy
- Sakthi Sugars Limited - India
- Australian Coal Association
- CNBM International Corporation - China
- Mintek Dendrill Indonesia
- Savvy Resources Ltd - HongKong
- Chettinad Cement Corporation Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Thiess Contractors Indonesia
- Intertek Mineral Services - Indonesia
- Energy Link Ltd, New Zealand
- ASAPP Information Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Georgia Ports Authority, United States
- Gujarat Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Medco Energi Mining Internasional
- VISA Power Limited - India
- Edison Trading Spa - Italy
- Jorong Barutama Greston.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Coalindo Energy - Indonesia
- Bhoruka Overseas - Indonesia
- European Bulk Services B.V. - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Cement Manufacturers Association - India
- Ministry of Finance - Indonesia
- Global Business Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Xindia Steels Limited - India
- TeaM Sual Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Timah Investasi Mineral - Indoneisa
- Electricity Generating Authority of Thailand
- Agrawal Coal Company - India
- Directorate General of MIneral and Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Indogreen Group - Indonesia
- GMR Energy Limited - India
- Meenaskhi Energy Private Limited - India
- Power Finance Corporation Ltd., India
- Kumho Petrochemical, South Korea
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- Kobexindo Tractors - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kapuas Tunggal Persada - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Straits Asia Resources Limited - Singapore
- Coal and Oil Company - UAE
- Electricity Authority, New Zealand
- Toyota Tsusho Corporation, Japan
- Indian Energy Exchange, India
- Bhatia International Limited - India
- Bukit Makmur.PT - Indonesia
- Barasentosa Lestari - Indonesia
- India Bulls Power Limited - India
- Riau Bara Harum - Indonesia
- The University of Queensland
- Star Paper Mills Limited - India
- Siam City Cement PLC, Thailand
- Bhushan Steel Limited - India
- Meralco Power Generation, Philippines
- AsiaOL BioFuels Corp., Philippines
- McConnell Dowell - Australia
- Pendopo Energi Batubara - Indonesia
- SMG Consultants - Indonesia
- Dalmia Cement Bharat India
- Jindal Steel & Power Ltd - India
- Baramulti Group, Indonesia
- Merrill Lynch Commodities Europe
- Attock Cement Pakistan Limited
- Deloitte Consulting - India
- Borneo Indobara - Indonesia
- International Coal Ventures Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Mercuria Energy - Indonesia
- Makarim & Taira - Indonesia
- Petron Corporation, Philippines
- SMC Global Power, Philippines
- Independent Power Producers Association of India
- Planning Commission, India
- The Treasury - Australian Government
- Grasim Industreis Ltd - India
- Sree Jayajothi Cements Limited - India
- Eastern Coal Council - USA
- Lanco Infratech Ltd - India
- Rio Tinto Coal - Australia
- Oldendorff Carriers - Singapore
- Holcim Trading Pte Ltd - Singapore
- Maheswari Brothers Coal Limited - India
- GVK Power & Infra Limited - India
- Semirara Mining Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Vizag Seaport Private Limited - India
- Orica Mining Services - Indonesia
- Interocean Group of Companies - India
- Videocon Industries ltd - India
- Carbofer General Trading SA - India
- Economic Council, Georgia
- Global Green Power PLC Corporation, Philippines
- PTC India Limited - India
- Price Waterhouse Coopers - Russia
- Global Coal Blending Company Limited - Australia
- Sindya Power Generating Company Private Ltd
- Tata Chemicals Ltd - India
- PNOC Exploration Corporation - Philippines
- Sojitz Corporation - Japan
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement - Thailand
- Antam Resourcindo - Indonesia
- Wood Mackenzie - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IEA Clean Coal Centre - UK
- Commonwealth Bank - Australia
- Larsen & Toubro Limited - India
- Romanian Commodities Exchange
- Ambuja Cements Ltd - India
- Vedanta Resources Plc - India
- Anglo American - United Kingdom
- London Commodity Brokers - England
- Ind-Barath Power Infra Limited - India
- Goldman Sachs - Singapore
- Uttam Galva Steels Limited - India
- Eastern Energy - Thailand
- Chamber of Mines of South Africa
- Karaikal Port Pvt Ltd - India
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