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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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Thursday, 03 March 16
RIO TINTO COMPLETES SALE OF INTEREST IN BENGALLA JOINT VENTURE FOR US$616.7 MILLION
COALspot.com: Rio Tinto has completed the sale of its 40 per cent interest in the Bengalla coal Joint Venture in Australia to New Hope Corporation ...
Wednesday, 02 March 16
RE-EVALUATION OF MINING LICENSES CLEAN AND CLEAR STATUS IN INDONESIA
COALspot.com: In connection with the transfer of mining authority from Regents/Mayors to Governors1 and from Regents/Mayors and Governors to t ...
Wednesday, 02 March 16
OIL MY GOD.....!!!!
OIL my GOD….!!!!
The oil price “crash” that started in 2014 was caused by a glut of practically unwanted oil. Producers had be ...
Tuesday, 01 March 16
CS 42 (4200 GAR) COAL INDEX CLOSED AT US$ 27.11 A TON ON 26 FEBRUARY
COALspot.com: Average 5000 GAR coal index of Indonesian origin decline 0.31 percent week over week to averaging $38.77 per ton on this past Friday, ...
Tuesday, 01 March 16
CAN BULKCARRIER SUPPLY CUTS RESTORE SOME BALANCE? - CLARKSONS
The easing in bulkcarrier deliveries and the accelerated pace of demolition in recent years has seen bulkcarrier fleet growth slow from a rapid 17% ...
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- Toyota Tsusho Corporation, Japan
- Kapuas Tunggal Persada - Indonesia
- Minerals Council of Australia
- Therma Luzon, Inc, Philippines
- The State Trading Corporation of India Ltd
- Thai Mozambique Logistica
- Metalloyd Limited - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Planning Commission, India
- Energy Development Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indo Tambangraya Megah - Indonesia
- Ministry of Finance - Indonesia
- Riau Bara Harum - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Directorate Of Revenue Intelligence - India
- San Jose City I Power Corp, Philippines
- Indian Oil Corporation Limited
- Kohat Cement Company Ltd. - Pakistan
- Carbofer General Trading SA - India
- Marubeni Corporation - India
- Price Waterhouse Coopers - Russia
- Coal and Oil Company - UAE
- Aboitiz Power Corporation - Philippines
- The Treasury - Australian Government
- SN Aboitiz Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Orica Australia Pty. Ltd.
- Bangladesh Power Developement Board
- Larsen & Toubro Limited - India
- Bayan Resources Tbk. - Indonesia
- Anglo American - United Kingdom
- Ministry of Transport, Egypt
- Gujarat Mineral Development Corp Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- IHS Mccloskey Coal Group - USA
- Karbindo Abesyapradhi - Indoneisa
- Romanian Commodities Exchange
- Savvy Resources Ltd - HongKong
- Indonesian Coal Mining Association
- Barasentosa Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- Medco Energi Mining Internasional
- Siam City Cement PLC, Thailand
- Timah Investasi Mineral - Indoneisa
- Heidelberg Cement - Germany
- The University of Queensland
- Bukit Asam (Persero) Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Latin American Coal - Colombia
- TeaM Sual Corporation - Philippines
- Videocon Industries ltd - India
- Leighton Contractors Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Straits Asia Resources Limited - Singapore
- Meenaskhi Energy Private Limited - India
- Sree Jayajothi Cements Limited - India
- PetroVietnam Power Coal Import and Supply Company
- GVK Power & Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Meralco Power Generation, Philippines
- ASAPP Information Group - India
- Mintek Dendrill Indonesia
- Dalmia Cement Bharat India
- Georgia Ports Authority, United States
- Directorate General of MIneral and Coal - Indonesia
- Interocean Group of Companies - India
- Central Electricity Authority - India
- Antam Resourcindo - Indonesia
- India Bulls Power Limited - India
- Binh Thuan Hamico - Vietnam
- Bhushan Steel Limited - India
- Aditya Birla Group - India
- Coastal Gujarat Power Limited - India
- Mercator Lines Limited - India
- Commonwealth Bank - Australia
- Maharashtra Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Sical Logistics Limited - India
- Krishnapatnam Port Company Ltd. - India
- Simpson Spence & Young - Indonesia
- Australian Commodity Traders Exchange
- SMC Global Power, Philippines
- GAC Shipping (India) Pvt Ltd
- Sindya Power Generating Company Private Ltd
- Kobexindo Tractors - Indoneisa
- Baramulti Group, Indonesia
- MS Steel International - UAE
- Agrawal Coal Company - India
- Neyveli Lignite Corporation Ltd, - India
- Orica Mining Services - Indonesia
- Mjunction Services Limited - India
- Petron Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Gujarat Sidhee Cement - India
- Ministry of Mines - Canada
- Vedanta Resources Plc - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Economic Council, Georgia
- Madhucon Powers Ltd - India
- Gujarat Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Semirara Mining Corp, Philippines
- Cement Manufacturers Association - India
- South Luzon Thermal Energy Corporation
- Essar Steel Hazira Ltd - India
- Deloitte Consulting - India
- ICICI Bank Limited - India
- Karaikal Port Pvt Ltd - India
- Thiess Contractors Indonesia
- Africa Commodities Group - South Africa
- Independent Power Producers Association of India
- Kumho Petrochemical, South Korea
- AsiaOL BioFuels Corp., Philippines
- Energy Link Ltd, New Zealand
- Coalindo Energy - Indonesia
- Posco Energy - South Korea
- Ambuja Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Sakthi Sugars Limited - India
- Wood Mackenzie - Singapore
- Makarim & Taira - Indonesia
- Trasteel International SA, Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rio Tinto Coal - Australia
- Lanco Infratech Ltd - India
- PNOC Exploration Corporation - Philippines
- Eastern Coal Council - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Xindia Steels Limited - India
- Sojitz Corporation - Japan
- Kartika Selabumi Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Bharathi Cement Corporation - India
- Banpu Public Company Limited - Thailand
- Indian Energy Exchange, India
- European Bulk Services B.V. - Netherlands
- CNBM International Corporation - China
- Oldendorff Carriers - Singapore
- Goldman Sachs - Singapore
- Maheswari Brothers Coal Limited - India
- Billiton Holdings Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- McConnell Dowell - Australia
- Jindal Steel & Power Ltd - India
- Intertek Mineral Services - Indonesia
- Electricity Authority, New Zealand
- Jaiprakash Power Ventures ltd
- Jorong Barutama Greston.PT - Indonesia
- Central Java Power - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Indogreen Group - Indonesia
- Bukit Baiduri Energy - Indonesia
- Malabar Cements Ltd - India
- PTC India Limited - India
- Electricity Generating Authority of Thailand
- Indika Energy - Indonesia
- GMR Energy Limited - India
- New Zealand Coal & Carbon
- SMG Consultants - Indonesia
- Standard Chartered Bank - UAE
- Singapore Mercantile Exchange
- Merrill Lynch Commodities Europe
- Chettinad Cement Corporation Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Samtan Co., Ltd - South Korea
- Ind-Barath Power Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- Siam City Cement - Thailand
- Asmin Koalindo Tuhup - Indonesia
- London Commodity Brokers - England
- Borneo Indobara - Indonesia
- Manunggal Multi Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Grasim Industreis Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Global Business Power Corporation, Philippines
- White Energy Company Limited
- Parliament of New Zealand
- Pendopo Energi Batubara - Indonesia
- Salva Resources Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Kideco Jaya Agung - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chamber of Mines of South Africa
- CIMB Investment Bank - Malaysia
- Power Finance Corporation Ltd., India
- Bhoruka Overseas - Indonesia
- Kaltim Prima Coal - Indonesia
- Wilmar Investment Holdings
- Holcim Trading Pte Ltd - Singapore
- Tata Chemicals Ltd - India
- Vizag Seaport Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Star Paper Mills Limited - India
- Tamil Nadu electricity Board
- Semirara Mining and Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- VISA Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Edison Trading Spa - Italy
- Uttam Galva Steels Limited - India
- Eastern Energy - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Mercuria Energy - Indonesia
- Attock Cement Pakistan Limited
- Renaissance Capital - South Africa
- Port Waratah Coal Services - Australia
- Parry Sugars Refinery, India
- Altura Mining Limited, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Sarangani Energy Corporation, Philippines
- Australian Coal Association
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