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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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Wednesday, 24 February 16
PRIVATE EQUITY FUNDS LOOKING TO EXIT SHIPPING, MOST NOTABLY DRY BULK, AS OVERORDERING HAS RESULTED IN EXCESS TONNAGE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The injection of more than $13 billion in shipping from various private equity funds over the past few years has resulted in what many feared would ...
Wednesday, 24 February 16
THIRTEEN - NOT ALWAYS AN UNLUCKY NUMBER? - CLARKSONS
Back in early 1999 the price of a 5 year old Panamax bulkcarrier dipped to $13.5m, and ever since analysts have hailed purchase decisions made at t ...
Monday, 22 February 16
4200 GAR COAL INDEX SETTLES AT $27.02, DOWN 0.07% FROM LAST WEEK
COALspot.com: Average 5000 GAR coal index of Indonesian origin decline 0.17 percent week over week to averaging $38.89 per ton on this past Friday, ...
Monday, 22 February 16
FREIGHT MARKETS PICKED UP SLIGHTLY THIS PAST WEEK
COALspot.com: The freight markets picked up slightly this past week.
The Baltic Dry Index (BDI) of dry-bulk shipping freights, a measure of gl ...
Friday, 19 February 16
INDONESIAN HBA HITS A NEW LOWS BELOW $51 A TON AS OVERSUPPLY, LOW DEMAND WOES PERSIST
COALspot.com: Low coal demand and excess supplies sent Indonesian benchmark coal price further deep in February 2016. HBA has slumped second time t ...
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- Ind-Barath Power Infra Limited - India
- Economic Council, Georgia
- Semirara Mining and Power Corporation, Philippines
- Singapore Mercantile Exchange
- Tata Chemicals Ltd - India
- Semirara Mining Corp, Philippines
- Jindal Steel & Power Ltd - India
- Agrawal Coal Company - India
- Altura Mining Limited, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- SMG Consultants - Indonesia
- Standard Chartered Bank - UAE
- Electricity Authority, New Zealand
- Energy Link Ltd, New Zealand
- Thai Mozambique Logistica
- Xindia Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maharashtra Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- White Energy Company Limited
- Directorate General of MIneral and Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Maheswari Brothers Coal Limited - India
- Coastal Gujarat Power Limited - India
- Savvy Resources Ltd - HongKong
- Ceylon Electricity Board - Sri Lanka
- Edison Trading Spa - Italy
- GAC Shipping (India) Pvt Ltd
- Electricity Generating Authority of Thailand
- Merrill Lynch Commodities Europe
- Bhatia International Limited - India
- Mercuria Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Meenaskhi Energy Private Limited - India
- Latin American Coal - Colombia
- Indian Oil Corporation Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Medco Energi Mining Internasional
- Therma Luzon, Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Thiess Contractors Indonesia
- Bangladesh Power Developement Board
- Australian Commodity Traders Exchange
- OPG Power Generation Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Coal Council - USA
- The Treasury - Australian Government
- Kobexindo Tractors - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Central Electricity Authority - India
- Pendopo Energi Batubara - Indonesia
- Kideco Jaya Agung - Indonesia
- Orica Australia Pty. Ltd.
- Miang Besar Coal Terminal - Indonesia
- Independent Power Producers Association of India
- GMR Energy Limited - India
- Sical Logistics Limited - India
- Larsen & Toubro Limited - India
- Rio Tinto Coal - Australia
- Salva Resources Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Directorate Of Revenue Intelligence - India
- Banpu Public Company Limited - Thailand
- Indonesian Coal Mining Association
- Malabar Cements Ltd - India
- Vedanta Resources Plc - India
- Sakthi Sugars Limited - India
- Borneo Indobara - Indonesia
- Tamil Nadu electricity Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CIMB Investment Bank - Malaysia
- Antam Resourcindo - Indonesia
- Sree Jayajothi Cements Limited - India
- Samtan Co., Ltd - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Leighton Contractors Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Aditya Birla Group - India
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Mines - Canada
- Commonwealth Bank - Australia
- Grasim Industreis Ltd - India
- MS Steel International - UAE
- Mjunction Services Limited - India
- IEA Clean Coal Centre - UK
- Bukit Asam (Persero) Tbk - Indonesia
- Mintek Dendrill Indonesia
- Manunggal Multi Energi - Indonesia
- Bhoruka Overseas - Indonesia
- PTC India Limited - India
- Bayan Resources Tbk. - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement - Thailand
- Indian Energy Exchange, India
- ICICI Bank Limited - India
- Sojitz Corporation - Japan
- Chettinad Cement Corporation Ltd - India
- TeaM Sual Corporation - Philippines
- Parry Sugars Refinery, India
- Sindya Power Generating Company Private Ltd
- Port Waratah Coal Services - Australia
- India Bulls Power Limited - India
- IHS Mccloskey Coal Group - USA
- Marubeni Corporation - India
- Essar Steel Hazira Ltd - India
- Mercator Lines Limited - India
- Makarim & Taira - Indonesia
- Deloitte Consulting - India
- PowerSource Philippines DevCo
- Videocon Industries ltd - India
- Eastern Energy - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Vizag Seaport Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Finance - Indonesia
- Siam City Cement PLC, Thailand
- Price Waterhouse Coopers - Russia
- Posco Energy - South Korea
- Oldendorff Carriers - Singapore
- Minerals Council of Australia
- Georgia Ports Authority, United States
- Sarangani Energy Corporation, Philippines
- Meralco Power Generation, Philippines
- Gujarat Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Toyota Tsusho Corporation, Japan
- Neyveli Lignite Corporation Ltd, - India
- Indogreen Group - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Heidelberg Cement - Germany
- Barasentosa Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- ASAPP Information Group - India
- Metalloyd Limited - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Interocean Group of Companies - India
- Goldman Sachs - Singapore
- Baramulti Group, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Orica Mining Services - Indonesia
- Bhushan Steel Limited - India
- The State Trading Corporation of India Ltd
- Straits Asia Resources Limited - Singapore
- Power Finance Corporation Ltd., India
- Bulk Trading Sa - Switzerland
- Global Business Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Carbofer General Trading SA - India
- Wilmar Investment Holdings
- Timah Investasi Mineral - Indoneisa
- Binh Thuan Hamico - Vietnam
- Anglo American - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Bharathi Cement Corporation - India
- New Zealand Coal & Carbon
- Indika Energy - Indonesia
- The University of Queensland
- Madhucon Powers Ltd - India
- CNBM International Corporation - China
- Wood Mackenzie - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Coal Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ambuja Cements Ltd - India
- Chamber of Mines of South Africa
- Attock Cement Pakistan Limited
- Krishnapatnam Port Company Ltd. - India
- Gujarat Mineral Development Corp Ltd - India
- SN Aboitiz Power Inc, Philippines
- Romanian Commodities Exchange
- Ministry of Transport, Egypt
- Africa Commodities Group - South Africa
- Global Coal Blending Company Limited - Australia
- Kumho Petrochemical, South Korea
- VISA Power Limited - India
- Coal and Oil Company - UAE
- Parliament of New Zealand
- Renaissance Capital - South Africa
- Globalindo Alam Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Planning Commission, India
- Coalindo Energy - Indonesia
- London Commodity Brokers - England
- South Luzon Thermal Energy Corporation
- Energy Development Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Lanco Infratech Ltd - India
- Petron Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Cement Manufacturers Association - India
- GVK Power & Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- SMC Global Power, Philippines
- Trasteel International SA, Italy
- Karaikal Port Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- PNOC Exploration Corporation - Philippines
- Central Java Power - Indonesia
- Formosa Plastics Group - Taiwan
- Riau Bara Harum - Indonesia
- Gujarat Sidhee Cement - India
- Simpson Spence & Young - Indonesia
- Bukit Makmur.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Star Paper Mills Limited - India
- Dalmia Cement Bharat India
- Global Green Power PLC Corporation, Philippines
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