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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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Tuesday, 19 January 16
HAPPY NEW YEAR, COAL PRODUCERS! OR MAYBE NOT - ANDY ROBERTS
To coal producers, 2015 must have seemed far longer than 365 days. From their perspective, as bad as markets were at the beginning of the year, and ...
Tuesday, 19 January 16
COALTRANS ASIA IS RETURNING TO BALI
22nd Coaltrans Asia
Coaltrans Asia is returning to Bali to bring together over 1000 industry decision makers and thought leaders for three day ...
Monday, 18 January 16
INDONESIAN 5700 GAR COAL INDEX ROSE 0.60% WEEK OVER WEEK
COALspot.com: Average 5000 GAR coal index of Indonesian origin decline slightly week over week to averaging $39.93 per ton on this past Friday, acc ...
Monday, 18 January 16
BALTIC DRY SHIPPING INDEX DROPS TO 373 POINTS; DECLINE 13% WEEK OVER WEEK
COALspot.com: The freight market dropped this week as the BDI declined further 13 percent to 373 points week over week. The Cape index ...
Monday, 18 January 16
Q1'16 CFR SOUTH CHINA COAL SWAP CLOSED AT $ 42.50 PER TON; UP 1% MONTH OVER MONTH
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2016 delivery rose US$ 0.43 (1.02%) per ton month over month.
A commodity swap is ...
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- Xindia Steels Limited - India
- Dalmia Cement Bharat India
- Indonesian Coal Mining Association
- Formosa Plastics Group - Taiwan
- Tamil Nadu electricity Board
- Africa Commodities Group - South Africa
- Bulk Trading Sa - Switzerland
- Bank of Tokyo Mitsubishi UFJ Ltd
- Leighton Contractors Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Wood Mackenzie - Singapore
- International Coal Ventures Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Kaltim Prima Coal - Indonesia
- Antam Resourcindo - Indonesia
- Savvy Resources Ltd - HongKong
- Electricity Authority, New Zealand
- Globalindo Alam Lestari - Indonesia
- Interocean Group of Companies - India
- Mercuria Energy - Indonesia
- Bharathi Cement Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Vizag Seaport Private Limited - India
- Lanco Infratech Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Standard Chartered Bank - UAE
- Cigading International Bulk Terminal - Indonesia
- Tata Chemicals Ltd - India
- London Commodity Brokers - England
- Star Paper Mills Limited - India
- PNOC Exploration Corporation - Philippines
- Goldman Sachs - Singapore
- Energy Development Corp, Philippines
- VISA Power Limited - India
- Sojitz Corporation - Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Bhushan Steel Limited - India
- Iligan Light & Power Inc, Philippines
- Wilmar Investment Holdings
- Ministry of Finance - Indonesia
- Bukit Baiduri Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Indian Oil Corporation Limited
- Orica Mining Services - Indonesia
- Baramulti Group, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Port Waratah Coal Services - Australia
- Heidelberg Cement - Germany
- Aditya Birla Group - India
- Karbindo Abesyapradhi - Indoneisa
- Bukit Makmur.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Romanian Commodities Exchange
- Karaikal Port Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Independent Power Producers Association of India
- Energy Link Ltd, New Zealand
- Toyota Tsusho Corporation, Japan
- Maheswari Brothers Coal Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Minerals Council of Australia
- Jindal Steel & Power Ltd - India
- SN Aboitiz Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kapuas Tunggal Persada - Indonesia
- Renaissance Capital - South Africa
- Central Electricity Authority - India
- Ministry of Mines - Canada
- Straits Asia Resources Limited - Singapore
- Power Finance Corporation Ltd., India
- Pendopo Energi Batubara - Indonesia
- Siam City Cement PLC, Thailand
- Bhoruka Overseas - Indonesia
- Orica Australia Pty. Ltd.
- SMC Global Power, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coastal Gujarat Power Limited - India
- Coal and Oil Company - UAE
- CNBM International Corporation - China
- CIMB Investment Bank - Malaysia
- PTC India Limited - India
- Kobexindo Tractors - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Uttam Galva Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Therma Luzon, Inc, Philippines
- Indian Energy Exchange, India
- Deloitte Consulting - India
- PowerSource Philippines DevCo
- European Bulk Services B.V. - Netherlands
- Siam City Cement - Thailand
- Petron Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Georgia Ports Authority, United States
- Medco Energi Mining Internasional
- Trasteel International SA, Italy
- Jorong Barutama Greston.PT - Indonesia
- Posco Energy - South Korea
- Holcim Trading Pte Ltd - Singapore
- Banpu Public Company Limited - Thailand
- Attock Cement Pakistan Limited
- Eastern Energy - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Sical Logistics Limited - India
- Thiess Contractors Indonesia
- Bangladesh Power Developement Board
- Rio Tinto Coal - Australia
- Madhucon Powers Ltd - India
- Meenaskhi Energy Private Limited - India
- GMR Energy Limited - India
- Semirara Mining and Power Corporation, Philippines
- Bhatia International Limited - India
- Commonwealth Bank - Australia
- Agrawal Coal Company - India
- Vedanta Resources Plc - India
- Videocon Industries ltd - India
- SMG Consultants - Indonesia
- Essar Steel Hazira Ltd - India
- McConnell Dowell - Australia
- IEA Clean Coal Centre - UK
- Edison Trading Spa - Italy
- Price Waterhouse Coopers - Russia
- Sree Jayajothi Cements Limited - India
- The University of Queensland
- Borneo Indobara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Coalindo Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Carbofer General Trading SA - India
- Ambuja Cements Ltd - India
- Marubeni Corporation - India
- ASAPP Information Group - India
- Indika Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Intertek Mineral Services - Indonesia
- Electricity Generating Authority of Thailand
- South Luzon Thermal Energy Corporation
- Australian Coal Association
- Aboitiz Power Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Chamber of Mines of South Africa
- GAC Shipping (India) Pvt Ltd
- Kumho Petrochemical, South Korea
- Directorate General of MIneral and Coal - Indonesia
- White Energy Company Limited
- TNB Fuel Sdn Bhd - Malaysia
- Oldendorff Carriers - Singapore
- LBH Netherlands Bv - Netherlands
- Salva Resources Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- ICICI Bank Limited - India
- Miang Besar Coal Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Mjunction Services Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Grasim Industreis Ltd - India
- Meralco Power Generation, Philippines
- Makarim & Taira - Indonesia
- Jaiprakash Power Ventures ltd
- Economic Council, Georgia
- Chettinad Cement Corporation Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- New Zealand Coal & Carbon
- Sindya Power Generating Company Private Ltd
- Singapore Mercantile Exchange
- Altura Mining Limited, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- IHS Mccloskey Coal Group - USA
- Larsen & Toubro Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Alfred C Toepfer International GmbH - Germany
- Petrochimia International Co. Ltd.- Taiwan
- Latin American Coal - Colombia
- The State Trading Corporation of India Ltd
- Ministry of Transport, Egypt
- Anglo American - United Kingdom
- Sarangani Energy Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- The Treasury - Australian Government
- Global Coal Blending Company Limited - Australia
- Semirara Mining Corp, Philippines
- Cement Manufacturers Association - India
- Indogreen Group - Indonesia
- Bayan Resources Tbk. - Indonesia
- Kideco Jaya Agung - Indonesia
- Planning Commission, India
- Central Java Power - Indonesia
- OPG Power Generation Pvt Ltd - India
- Parliament of New Zealand
- Metalloyd Limited - United Kingdom
- Indo Tambangraya Megah - Indonesia
- India Bulls Power Limited - India
- Mintek Dendrill Indonesia
- Malabar Cements Ltd - India
- Mercator Lines Limited - India
- Sakthi Sugars Limited - India
- Binh Thuan Hamico - Vietnam
- Parry Sugars Refinery, India
- Manunggal Multi Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Australian Commodity Traders Exchange
- Eastern Coal Council - USA
- Thai Mozambique Logistica
- Bukit Asam (Persero) Tbk - Indonesia
- MS Steel International - UAE
- GVK Power & Infra Limited - India
- Global Green Power PLC Corporation, Philippines
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