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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, 03 February 16
DRY BULK MARKET CONTINUES TO BE UNDER PRESSURE - INTERMODAL
The Dry Bulk market continues to be under pressure, with the BDI remaining in search of even the slightest support, which seems to be delaying more ...
Tuesday, 02 February 16
RECORD EXPORTS THROUGH SOUTH AFRICA'S RICHARDS BAY COAL TERMINAL MADE AT EXPENSE OF SMALLER RIVALS, IHS SAYS
Five percent increase in coal exports through South Africa’s dominant Richards Bay Coal Terminal in 2015 unlikely to accelerate country&rsquo ...
Tuesday, 02 February 16
SETTING ASIDE, STRIKING OUT AND APPEALS TO THE COURT OF APPEAL IN SHIP ARRESTS - RAJAH & TANN ASIA LLP
KNOWLEDGE TO ELEVATE
The Singapore Court of Appeal once again has had to grapple with ship arrest, setting aside and appeals to the Court unde ...
Monday, 01 February 16
DRY BULK SUFFERS FROM POSEIDON'S POTENT PRONGS - CLARKSONS
It has been a grim start to 2016 for the bulkcarrier market, with the Baltic Dry Index sliding to new record lows on almost every day of the year s ...
Monday, 01 February 16
INDONESIA'S SECOND LARGEST COAL MINER ADARO ENERGY HAS PRODUCED 51.46 MT IN 2015; 8% LOWER COMPARED TO FY14
COALspot.com: Adaro Energy, the Indonesia’s second largest coal producer by volume has produced 51.46 Mt in 2015, 8% lower compared to ...
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- Indonesian Coal Mining Association
- VISA Power Limited - India
- Australian Commodity Traders Exchange
- Riau Bara Harum - Indonesia
- Makarim & Taira - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- Medco Energi Mining Internasional
- Leighton Contractors Pty Ltd - Australia
- Commonwealth Bank - Australia
- IEA Clean Coal Centre - UK
- Bukit Baiduri Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Samtan Co., Ltd - South Korea
- Tata Chemicals Ltd - India
- Mjunction Services Limited - India
- Globalindo Alam Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Simpson Spence & Young - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Thiess Contractors Indonesia
- Coal and Oil Company - UAE
- Rio Tinto Coal - Australia
- Binh Thuan Hamico - Vietnam
- Singapore Mercantile Exchange
- Georgia Ports Authority, United States
- Alfred C Toepfer International GmbH - Germany
- Mercator Lines Limited - India
- GN Power Mariveles Coal Plant, Philippines
- South Luzon Thermal Energy Corporation
- Banpu Public Company Limited - Thailand
- Australian Coal Association
- Energy Development Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- PetroVietnam Power Coal Import and Supply Company
- Edison Trading Spa - Italy
- India Bulls Power Limited - India
- Ministry of Transport, Egypt
- Jorong Barutama Greston.PT - Indonesia
- Posco Energy - South Korea
- Kobexindo Tractors - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Jaiprakash Power Ventures ltd
- The University of Queensland
- IHS Mccloskey Coal Group - USA
- Heidelberg Cement - Germany
- Salva Resources Pvt Ltd - India
- SMG Consultants - Indonesia
- GVK Power & Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- SMC Global Power, Philippines
- Larsen & Toubro Limited - India
- Malabar Cements Ltd - India
- Chamber of Mines of South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Carbofer General Trading SA - India
- Mintek Dendrill Indonesia
- Eastern Coal Council - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PowerSource Philippines DevCo
- Parliament of New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Parry Sugars Refinery, India
- Aboitiz Power Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Goldman Sachs - Singapore
- Economic Council, Georgia
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- Ministry of Mines - Canada
- ASAPP Information Group - India
- Coalindo Energy - Indonesia
- Merrill Lynch Commodities Europe
- Bhoruka Overseas - Indonesia
- PTC India Limited - India
- Anglo American - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Indo Tambangraya Megah - Indonesia
- Minerals Council of Australia
- Vedanta Resources Plc - India
- Toyota Tsusho Corporation, Japan
- London Commodity Brokers - England
- The Treasury - Australian Government
- Oldendorff Carriers - Singapore
- Semirara Mining Corp, Philippines
- Romanian Commodities Exchange
- White Energy Company Limited
- Madhucon Powers Ltd - India
- Energy Link Ltd, New Zealand
- Borneo Indobara - Indonesia
- Formosa Plastics Group - Taiwan
- Semirara Mining and Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Sree Jayajothi Cements Limited - India
- Videocon Industries ltd - India
- International Coal Ventures Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Port Waratah Coal Services - Australia
- Uttam Galva Steels Limited - India
- Bangladesh Power Developement Board
- Antam Resourcindo - Indonesia
- GMR Energy Limited - India
- Barasentosa Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Central Java Power - Indonesia
- McConnell Dowell - Australia
- Electricity Authority, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Independent Power Producers Association of India
- Kumho Petrochemical, South Korea
- Sindya Power Generating Company Private Ltd
- Standard Chartered Bank - UAE
- Straits Asia Resources Limited - Singapore
- Directorate Of Revenue Intelligence - India
- Jindal Steel & Power Ltd - India
- Price Waterhouse Coopers - Russia
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement - Thailand
- Meralco Power Generation, Philippines
- Mercuria Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- The State Trading Corporation of India Ltd
- Bhatia International Limited - India
- Agrawal Coal Company - India
- Kepco SPC Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Trasteel International SA, Italy
- Cigading International Bulk Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Business Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Planning Commission, India
- Indian Oil Corporation Limited
- Kartika Selabumi Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Iligan Light & Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Sarangani Energy Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Grasim Industreis Ltd - India
- Dalmia Cement Bharat India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wilmar Investment Holdings
- Global Green Power PLC Corporation, Philippines
- Indian Energy Exchange, India
- Orica Australia Pty. Ltd.
- Coastal Gujarat Power Limited - India
- Ambuja Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Chettinad Cement Corporation Ltd - India
- Gujarat Sidhee Cement - India
- Maharashtra Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Interocean Group of Companies - India
- Neyveli Lignite Corporation Ltd, - India
- Africa Commodities Group - South Africa
- New Zealand Coal & Carbon
- Marubeni Corporation - India
- Sical Logistics Limited - India
- Holcim Trading Pte Ltd - Singapore
- Sakthi Sugars Limited - India
- Ind-Barath Power Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- MS Steel International - UAE
- Thai Mozambique Logistica
- Eastern Energy - Thailand
- Cement Manufacturers Association - India
- Xindia Steels Limited - India
- Essar Steel Hazira Ltd - India
- Bhushan Steel Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Timah Investasi Mineral - Indoneisa
- Bharathi Cement Corporation - India
- GAC Shipping (India) Pvt Ltd
- Sojitz Corporation - Japan
- Indika Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Deloitte Consulting - India
- Miang Besar Coal Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Central Electricity Authority - India
- Petron Corporation, Philippines
- Vizag Seaport Private Limited - India
- Tamil Nadu electricity Board
- PNOC Exploration Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Attock Cement Pakistan Limited
- Wood Mackenzie - Singapore
- Latin American Coal - Colombia
- Ministry of Finance - Indonesia
- CNBM International Corporation - China
- Baramulti Group, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Indogreen Group - Indonesia
- Maheswari Brothers Coal Limited - India
- Power Finance Corporation Ltd., India
- ICICI Bank Limited - India
- Electricity Generating Authority of Thailand
- San Jose City I Power Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Aditya Birla Group - India
- Renaissance Capital - South Africa
- Star Paper Mills Limited - India
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