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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, 17 February 16
THE OWNERS FACING HISTORICAL LOW DRY BULK RATES; COAL IMPORTS TO CHINA IS STILL POINTING TO A STRONG TREND OF DECLINING CONSUMPTION
The sharp fall in dry bulk rates that has been taking place since the end of last year and has left owners facing historical low rates for a substa ...
Monday, 15 February 16
CALL THE DOCTOR! SHIPPING'S MEDICAL DRAMA UNFOLDS......- CLARKSONS
The recycling market has started 2016 with a bang, with a huge volume of tonnage heading to demolition facilities. Many of the key shipping markets ...
Monday, 15 February 16
CS 42 COAL INDEX ROSE 0.07% WEEK OVER WEEK
COALspot.com: Average 5000 GAR coal index of Indonesian origin decline 0.15 percent week over week to averaging $38.96 per ton on this past Friday, ...
Monday, 15 February 16
BALTIC INDEX MARGINALLY ROSE BY A POINT D-D; CAPESIZE INDEX DOWN 13 POINTS W-W; PANAMAX INDEX UP 29 POINTS W-W
COALspot.com: The freight markets continued to fall this past week.
The BDI, The Baltic Dry Index (BDI) of dry-bulk shipping freights, a measu ...
Friday, 12 February 16
DRY BULK MARKET'S FORTUNES STILL TIED WITH CHINA'S ECONOMY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The inevitable slowdown of the Chinese economy was expected to hurt dry bulk shipping, but few expected the blow to be this hard, especially given ...
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Grasim Industreis Ltd - India
- Baramulti Group, Indonesia
- Makarim & Taira - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Essar Steel Hazira Ltd - India
- The State Trading Corporation of India Ltd
- Planning Commission, India
- Trasteel International SA, Italy
- Maheswari Brothers Coal Limited - India
- Manunggal Multi Energi - Indonesia
- Carbofer General Trading SA - India
- Sinarmas Energy and Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- Billiton Holdings Pty Ltd - Australia
- Anglo American - United Kingdom
- Ministry of Finance - Indonesia
- Gujarat Sidhee Cement - India
- Economic Council, Georgia
- Meralco Power Generation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Port Waratah Coal Services - Australia
- Latin American Coal - Colombia
- South Luzon Thermal Energy Corporation
- Energy Link Ltd, New Zealand
- Bharathi Cement Corporation - India
- London Commodity Brokers - England
- Indian Oil Corporation Limited
- Meenaskhi Energy Private Limited - India
- Mintek Dendrill Indonesia
- Medco Energi Mining Internasional
- Lanco Infratech Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Petron Corporation, Philippines
- VISA Power Limited - India
- Barasentosa Lestari - Indonesia
- Mercuria Energy - Indonesia
- Heidelberg Cement - Germany
- PetroVietnam Power Coal Import and Supply Company
- Wilmar Investment Holdings
- Siam City Cement - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Mining Services - Indonesia
- Sindya Power Generating Company Private Ltd
- GAC Shipping (India) Pvt Ltd
- Eastern Energy - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- San Jose City I Power Corp, Philippines
- Siam City Cement PLC, Thailand
- The Treasury - Australian Government
- Georgia Ports Authority, United States
- Bukit Baiduri Energy - Indonesia
- Agrawal Coal Company - India
- Xindia Steels Limited - India
- Posco Energy - South Korea
- GVK Power & Infra Limited - India
- Salva Resources Pvt Ltd - India
- Attock Cement Pakistan Limited
- Miang Besar Coal Terminal - Indonesia
- Videocon Industries ltd - India
- Ministry of Transport, Egypt
- Global Business Power Corporation, Philippines
- Renaissance Capital - South Africa
- Interocean Group of Companies - India
- Intertek Mineral Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Indika Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Edison Trading Spa - Italy
- TNB Fuel Sdn Bhd - Malaysia
- Bangladesh Power Developement Board
- Kobexindo Tractors - Indoneisa
- Bukit Makmur.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Parliament of New Zealand
- Bhatia International Limited - India
- Oldendorff Carriers - Singapore
- Bulk Trading Sa - Switzerland
- Merrill Lynch Commodities Europe
- Petrochimia International Co. Ltd.- Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sakthi Sugars Limited - India
- Global Coal Blending Company Limited - Australia
- Banpu Public Company Limited - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Energy Exchange, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ceylon Electricity Board - Sri Lanka
- Kapuas Tunggal Persada - Indonesia
- Romanian Commodities Exchange
- Chettinad Cement Corporation Ltd - India
- Electricity Generating Authority of Thailand
- LBH Netherlands Bv - Netherlands
- Indogreen Group - Indonesia
- Samtan Co., Ltd - South Korea
- Energy Development Corp, Philippines
- White Energy Company Limited
- Singapore Mercantile Exchange
- Commonwealth Bank - Australia
- Karbindo Abesyapradhi - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Australian Coal Association
- Timah Investasi Mineral - Indoneisa
- Coalindo Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Mercator Lines Limited - India
- CNBM International Corporation - China
- Bhoruka Overseas - Indonesia
- Bhushan Steel Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- CIMB Investment Bank - Malaysia
- Indo Tambangraya Megah - Indonesia
- OPG Power Generation Pvt Ltd - India
- Tamil Nadu electricity Board
- Holcim Trading Pte Ltd - Singapore
- Kaltim Prima Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- PNOC Exploration Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Larsen & Toubro Limited - India
- Krishnapatnam Port Company Ltd. - India
- ASAPP Information Group - India
- PTC India Limited - India
- ICICI Bank Limited - India
- Minerals Council of Australia
- Tata Chemicals Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- SMG Consultants - Indonesia
- Savvy Resources Ltd - HongKong
- McConnell Dowell - Australia
- Maharashtra Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- Asmin Koalindo Tuhup - Indonesia
- Australian Commodity Traders Exchange
- Aboitiz Power Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Kepco SPC Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Sical Logistics Limited - India
- Parry Sugars Refinery, India
- AsiaOL BioFuels Corp., Philippines
- Goldman Sachs - Singapore
- Alfred C Toepfer International GmbH - Germany
- Ministry of Mines - Canada
- Wood Mackenzie - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Central Electricity Authority - India
- Electricity Authority, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thiess Contractors Indonesia
- New Zealand Coal & Carbon
- Bayan Resources Tbk. - Indonesia
- Thai Mozambique Logistica
- Simpson Spence & Young - Indonesia
- IEA Clean Coal Centre - UK
- Cement Manufacturers Association - India
- GMR Energy Limited - India
- Coal and Oil Company - UAE
- Jorong Barutama Greston.PT - Indonesia
- Riau Bara Harum - Indonesia
- Toyota Tsusho Corporation, Japan
- Antam Resourcindo - Indonesia
- Price Waterhouse Coopers - Russia
- Indonesian Coal Mining Association
- Coastal Gujarat Power Limited - India
- Vedanta Resources Plc - India
- Dalmia Cement Bharat India
- TeaM Sual Corporation - Philippines
- Africa Commodities Group - South Africa
- IHS Mccloskey Coal Group - USA
- Kalimantan Lumbung Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Rio Tinto Coal - Australia
- Jindal Steel & Power Ltd - India
- Deloitte Consulting - India
- Straits Asia Resources Limited - Singapore
- Borneo Indobara - Indonesia
- SMC Global Power, Philippines
- Therma Luzon, Inc, Philippines
- Power Finance Corporation Ltd., India
- Mjunction Services Limited - India
- Independent Power Producers Association of India
- Jaiprakash Power Ventures ltd
- MS Steel International - UAE
- Star Paper Mills Limited - India
- Sojitz Corporation - Japan
- Kumho Petrochemical, South Korea
- Uttam Galva Steels Limited - India
- Formosa Plastics Group - Taiwan
- Altura Mining Limited, Indonesia
- Ind-Barath Power Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Semirara Mining Corp, Philippines
- The University of Queensland
- Pendopo Energi Batubara - Indonesia
- Marubeni Corporation - India
- Aditya Birla Group - India
- Malabar Cements Ltd - India
- Central Java Power - Indonesia
- Vizag Seaport Private Limited - India
- Directorate Of Revenue Intelligence - India
- Ambuja Cements Ltd - India
- PowerSource Philippines DevCo
- Chamber of Mines of South Africa
- Gujarat Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- Madhucon Powers Ltd - India
- Sree Jayajothi Cements Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
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