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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, 15 January 16
FOB INDONESIA COAL SWAPS FIRM SLIGHTLY LAST WEEK
COALspot.com: Indonesian coal swap delivery Q1 2016 declined month over month and week over week.
According to AsiaClear OTC coal swap's r ...
Friday, 15 January 16
SHIPPING: 2016 STARTED WITH MISERY ACROSS THE BOARD FOR SHIP OWNERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
As one would have expected, the dry bulk market starter the new year where it left off in 2015, plunging to never seen before depths, as the market ...
Friday, 15 January 16
U.S. WEEKLY COAL PRODUCTION ROSE ACROSS ALL BASINS: EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 13.4 million shor ...
Thursday, 14 January 16
FOB RICHARDS BAY COAL SWAP FOR Q3 DELIVERY CLOSED $5.90 LOWER THAN Q1 PRICE
COALspot.com: Q1’ 2016 API4 FOB Richards Bay Coal swap up month over month and week over week.
The Q1’ 2016 FOB Richards Bay Coal ...
Wednesday, 13 January 16
U.S. COAL PRODUCTION DECLINED BY 109 MMST IN 2015; COAL EXPORTS DECREASED 21% Y-O-Y
COALspot.com: U.S. coal production declined by 109 million short tons (MMst) (11%) in 2015, the largest decline ever recorded, says EIA.
The 2 ...
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- Kartika Selabumi Mining - Indonesia
- Planning Commission, India
- Vedanta Resources Plc - India
- Georgia Ports Authority, United States
- Billiton Holdings Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aboitiz Power Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Goldman Sachs - Singapore
- Makarim & Taira - Indonesia
- Formosa Plastics Group - Taiwan
- SN Aboitiz Power Inc, Philippines
- Indogreen Group - Indonesia
- India Bulls Power Limited - India
- Riau Bara Harum - Indonesia
- Trasteel International SA, Italy
- GMR Energy Limited - India
- Samtan Co., Ltd - South Korea
- Port Waratah Coal Services - Australia
- Mercuria Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- CIMB Investment Bank - Malaysia
- Therma Luzon, Inc, Philippines
- TeaM Sual Corporation - Philippines
- Videocon Industries ltd - India
- Rio Tinto Coal - Australia
- Timah Investasi Mineral - Indoneisa
- Deloitte Consulting - India
- South Luzon Thermal Energy Corporation
- Singapore Mercantile Exchange
- Kideco Jaya Agung - Indonesia
- Bharathi Cement Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Mineral Development Corp Ltd - India
- GAC Shipping (India) Pvt Ltd
- Indo Tambangraya Megah - Indonesia
- Global Green Power PLC Corporation, Philippines
- PTC India Limited - India
- Leighton Contractors Pty Ltd - Australia
- Coalindo Energy - Indonesia
- London Commodity Brokers - England
- Electricity Generating Authority of Thailand
- Bhatia International Limited - India
- Ministry of Finance - Indonesia
- McConnell Dowell - Australia
- Rashtriya Ispat Nigam Limited - India
- Kumho Petrochemical, South Korea
- Sindya Power Generating Company Private Ltd
- Kalimantan Lumbung Energi - Indonesia
- Indonesian Coal Mining Association
- Africa Commodities Group - South Africa
- Sarangani Energy Corporation, Philippines
- Sical Logistics Limited - India
- Energy Link Ltd, New Zealand
- Bhushan Steel Limited - India
- The University of Queensland
- Directorate General of MIneral and Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- Baramulti Group, Indonesia
- Indian Oil Corporation Limited
- Indika Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Holcim Trading Pte Ltd - Singapore
- Thai Mozambique Logistica
- Energy Development Corp, Philippines
- Global Business Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- San Jose City I Power Corp, Philippines
- Agrawal Coal Company - India
- PowerSource Philippines DevCo
- Independent Power Producers Association of India
- Uttam Galva Steels Limited - India
- IEA Clean Coal Centre - UK
- Wilmar Investment Holdings
- Australian Commodity Traders Exchange
- GN Power Mariveles Coal Plant, Philippines
- Binh Thuan Hamico - Vietnam
- OPG Power Generation Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Gujarat Sidhee Cement - India
- Essar Steel Hazira Ltd - India
- Meralco Power Generation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Renaissance Capital - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Heidelberg Cement - Germany
- Sinarmas Energy and Mining - Indonesia
- Standard Chartered Bank - UAE
- Meenaskhi Energy Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Latin American Coal - Colombia
- Banpu Public Company Limited - Thailand
- Sojitz Corporation - Japan
- Bulk Trading Sa - Switzerland
- Altura Mining Limited, Indonesia
- Maheswari Brothers Coal Limited - India
- New Zealand Coal & Carbon
- Jorong Barutama Greston.PT - Indonesia
- Minerals Council of Australia
- Grasim Industreis Ltd - India
- Mjunction Services Limited - India
- VISA Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Indian Energy Exchange, India
- Pipit Mutiara Jaya. PT, Indonesia
- Cement Manufacturers Association - India
- Metalloyd Limited - United Kingdom
- SMC Global Power, Philippines
- Orica Australia Pty. Ltd.
- Interocean Group of Companies - India
- Romanian Commodities Exchange
- Central Java Power - Indonesia
- Siam City Cement - Thailand
- Salva Resources Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Tamil Nadu electricity Board
- Vijayanagar Sugar Pvt Ltd - India
- Medco Energi Mining Internasional
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ASAPP Information Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Chamber of Mines of South Africa
- Maharashtra Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- Petron Corporation, Philippines
- Barasentosa Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- LBH Netherlands Bv - Netherlands
- Bhoruka Overseas - Indonesia
- MS Steel International - UAE
- Tata Chemicals Ltd - India
- Dalmia Cement Bharat India
- Sakthi Sugars Limited - India
- Australian Coal Association
- Power Finance Corporation Ltd., India
- Attock Cement Pakistan Limited
- Lanco Infratech Ltd - India
- Economic Council, Georgia
- Bangladesh Power Developement Board
- Parry Sugars Refinery, India
- Electricity Authority, New Zealand
- Ministry of Mines - Canada
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ICICI Bank Limited - India
- Merrill Lynch Commodities Europe
- Aditya Birla Group - India
- Pendopo Energi Batubara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Anglo American - United Kingdom
- Marubeni Corporation - India
- Alfred C Toepfer International GmbH - Germany
- Madhucon Powers Ltd - India
- Straits Asia Resources Limited - Singapore
- PNOC Exploration Corporation - Philippines
- Antam Resourcindo - Indonesia
- Global Coal Blending Company Limited - Australia
- Directorate Of Revenue Intelligence - India
- Neyveli Lignite Corporation Ltd, - India
- Jindal Steel & Power Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Wood Mackenzie - Singapore
- The Treasury - Australian Government
- CNBM International Corporation - China
- Commonwealth Bank - Australia
- Intertek Mineral Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- Carbofer General Trading SA - India
- Central Electricity Authority - India
- Oldendorff Carriers - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Star Paper Mills Limited - India
- Ind-Barath Power Infra Limited - India
- Jaiprakash Power Ventures ltd
- Mintek Dendrill Indonesia
- Bukit Baiduri Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Siam City Cement PLC, Thailand
- Semirara Mining and Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Krishnapatnam Port Company Ltd. - India
- Ceylon Electricity Board - Sri Lanka
- Coastal Gujarat Power Limited - India
- Larsen & Toubro Limited - India
- Malabar Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Ministry of Transport, Egypt
- Bahari Cakrawala Sebuku - Indonesia
- White Energy Company Limited
- GVK Power & Infra Limited - India
- Orica Mining Services - Indonesia
- Xindia Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Coal and Oil Company - UAE
- SMG Consultants - Indonesia
- Thiess Contractors Indonesia
- Savvy Resources Ltd - HongKong
- Mercator Lines Limited - India
- Iligan Light & Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Posco Energy - South Korea
- Toyota Tsusho Corporation, Japan
- Karaikal Port Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Edison Trading Spa - Italy
- IHS Mccloskey Coal Group - USA
- Karbindo Abesyapradhi - Indoneisa
- Borneo Indobara - Indonesia
- Parliament of New Zealand
- Eastern Energy - Thailand
- Vizag Seaport Private Limited - India
- Eastern Coal Council - USA
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