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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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Friday, 12 February 16
COAL PRICES ARE EXPECTED TO DECLINE 13% IN 2016 TO $50 ATON, ON CONTINUED WEAK DEMAND AND OVERSUPPLY - WORLD BANK
COALspot.com: Thermal coal prices fell 9 percent in the fourth quarter on continued weak demand, high stocks, and surplus production, World Bank sa ...
Friday, 12 February 16
U.S. COAL PRODUCTION OFF 5.4% FROM LAST WEEK - EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 12.9 million shor ...
Thursday, 11 February 16
GLOBAL NEWBUILDING ORDERBOOK IS SHRINKING ON A DAILY BASIS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
2016 has started right where 2015 left off when it comes to newbuilding ordering activity, i.e. there are slim pickings to be had from shipyards ar ...
Wednesday, 10 February 16
SOUTH AFRICA IS HOPING TO SHIP MORE COAL TO INDIA IN 2016
COALspot.com: South Africa is hoping to boost coal exports to India after shipping a record 75.4 million tonnes of coal in 2015, industry officials ...
Wednesday, 10 February 16
OWNERS APPEAR WILLING TO DISPOSE OF TONNAGE THE SOONEST IT HITS THE 10 YEAR MARK - TIMOS PAPADIMITRIOU
COALspot.com: The last two months of 2015 made a case for traditional shipowners to invest in the dry bulk sector, doing so though based purely on ...
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- Barasentosa Lestari - Indonesia
- Rio Tinto Coal - Australia
- Samtan Co., Ltd - South Korea
- Economic Council, Georgia
- Commonwealth Bank - Australia
- Power Finance Corporation Ltd., India
- Lanco Infratech Ltd - India
- Coal and Oil Company - UAE
- PNOC Exploration Corporation - Philippines
- Kumho Petrochemical, South Korea
- Alfred C Toepfer International GmbH - Germany
- Gujarat Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- San Jose City I Power Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Orica Mining Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Tata Chemicals Ltd - India
- Tamil Nadu electricity Board
- Banpu Public Company Limited - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Dalmia Cement Bharat India
- Siam City Cement PLC, Thailand
- Star Paper Mills Limited - India
- Mjunction Services Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Attock Cement Pakistan Limited
- Oldendorff Carriers - Singapore
- Electricity Generating Authority of Thailand
- Miang Besar Coal Terminal - Indonesia
- Indian Oil Corporation Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Baramulti Group, Indonesia
- Globalindo Alam Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Indonesian Coal Mining Association
- The Treasury - Australian Government
- Meralco Power Generation, Philippines
- Edison Trading Spa - Italy
- Gujarat Sidhee Cement - India
- Thai Mozambique Logistica
- Wood Mackenzie - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Mines - Canada
- Price Waterhouse Coopers - Russia
- GAC Shipping (India) Pvt Ltd
- Larsen & Toubro Limited - India
- VISA Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Mercator Lines Limited - India
- Siam City Cement - Thailand
- Ceylon Electricity Board - Sri Lanka
- Cement Manufacturers Association - India
- Videocon Industries ltd - India
- Kaltim Prima Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Borneo Indobara - Indonesia
- Mintek Dendrill Indonesia
- Semirara Mining and Power Corporation, Philippines
- Carbofer General Trading SA - India
- Maheswari Brothers Coal Limited - India
- Ministry of Transport, Egypt
- Posco Energy - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Iligan Light & Power Inc, Philippines
- Heidelberg Cement - Germany
- CNBM International Corporation - China
- PowerSource Philippines DevCo
- Indogreen Group - Indonesia
- Australian Coal Association
- Billiton Holdings Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- GVK Power & Infra Limited - India
- Orica Australia Pty. Ltd.
- Salva Resources Pvt Ltd - India
- Malabar Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- Timah Investasi Mineral - Indoneisa
- Vedanta Resources Plc - India
- McConnell Dowell - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Deloitte Consulting - India
- IHS Mccloskey Coal Group - USA
- Chettinad Cement Corporation Ltd - India
- Marubeni Corporation - India
- Coalindo Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Aditya Birla Group - India
- Formosa Plastics Group - Taiwan
- Vizag Seaport Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Antam Resourcindo - Indonesia
- Coastal Gujarat Power Limited - India
- Riau Bara Harum - Indonesia
- South Luzon Thermal Energy Corporation
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Parliament of New Zealand
- Global Green Power PLC Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Bhushan Steel Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Makarim & Taira - Indonesia
- Binh Thuan Hamico - Vietnam
- Kartika Selabumi Mining - Indonesia
- PTC India Limited - India
- Uttam Galva Steels Limited - India
- India Bulls Power Limited - India
- New Zealand Coal & Carbon
- Sindya Power Generating Company Private Ltd
- Metalloyd Limited - United Kingdom
- Sarangani Energy Corporation, Philippines
- Madhucon Powers Ltd - India
- Eastern Coal Council - USA
- Ambuja Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- White Energy Company Limited
- Kapuas Tunggal Persada - Indonesia
- Minerals Council of Australia
- Directorate Of Revenue Intelligence - India
- Semirara Mining Corp, Philippines
- Latin American Coal - Colombia
- SN Aboitiz Power Inc, Philippines
- IEA Clean Coal Centre - UK
- Bharathi Cement Corporation - India
- Kobexindo Tractors - Indoneisa
- Eastern Energy - Thailand
- Central Java Power - Indonesia
- Bangladesh Power Developement Board
- Altura Mining Limited, Indonesia
- Petron Corporation, Philippines
- ICICI Bank Limited - India
- Straits Asia Resources Limited - Singapore
- Therma Luzon, Inc, Philippines
- GMR Energy Limited - India
- Kepco SPC Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Sical Logistics Limited - India
- Kideco Jaya Agung - Indonesia
- Merrill Lynch Commodities Europe
- Australian Commodity Traders Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Krishnapatnam Port Company Ltd. - India
- Energy Development Corp, Philippines
- Renaissance Capital - South Africa
- Planning Commission, India
- Standard Chartered Bank - UAE
- Holcim Trading Pte Ltd - Singapore
- TeaM Sual Corporation - Philippines
- Bhatia International Limited - India
- Meenaskhi Energy Private Limited - India
- Ministry of Finance - Indonesia
- Mercuria Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Wilmar Investment Holdings
- Bhoruka Overseas - Indonesia
- Jindal Steel & Power Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Bulk Trading Sa - Switzerland
- Sojitz Corporation - Japan
- Ind-Barath Power Infra Limited - India
- Central Electricity Authority - India
- Intertek Mineral Services - Indonesia
- Romanian Commodities Exchange
- SMC Global Power, Philippines
- Indo Tambangraya Megah - Indonesia
- European Bulk Services B.V. - Netherlands
- International Coal Ventures Pvt Ltd - India
- Singapore Mercantile Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Grasim Industreis Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Bayan Resources Tbk. - Indonesia
- Electricity Authority, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Africa Commodities Group - South Africa
- CIMB Investment Bank - Malaysia
- Medco Energi Mining Internasional
- Maharashtra Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- Indian Energy Exchange, India
- Xindia Steels Limited - India
- ASAPP Information Group - India
- Chamber of Mines of South Africa
- Port Waratah Coal Services - Australia
- Neyveli Lignite Corporation Ltd, - India
- Goldman Sachs - Singapore
- Anglo American - United Kingdom
- London Commodity Brokers - England
- Karbindo Abesyapradhi - Indoneisa
- Global Coal Blending Company Limited - Australia
- Savvy Resources Ltd - HongKong
- Parry Sugars Refinery, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jaiprakash Power Ventures ltd
- Sakthi Sugars Limited - India
- Essar Steel Hazira Ltd - India
- Trasteel International SA, Italy
- Indika Energy - Indonesia
- Interocean Group of Companies - India
- Aboitiz Power Corporation - Philippines
- Independent Power Producers Association of India
- SMG Consultants - Indonesia
- MS Steel International - UAE
- The State Trading Corporation of India Ltd
- LBH Netherlands Bv - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Georgia Ports Authority, United States
- Cigading International Bulk Terminal - Indonesia
- The University of Queensland
- Agrawal Coal Company - India
- GN Power Mariveles Coal Plant, Philippines
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