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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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Thursday, 07 January 16
FOB NEWCASTLE COAL SWAPS DELIVERY Q1'16 REMAIN FLAT W-O-W; UP M-O-M
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2016 delivery rose another $1.23 per ton (3.35%) this past week compared to the sam ...
Thursday, 07 January 16
SHIPPING WILL REMAIN VOLATILE AND INDISPENSABLE IN 2016 - MOORE STEPHENS
The ultimate definition of an optimist has been characterised as an accordion player with an answerphone. Such extreme optimism might be difficult ...
Wednesday, 06 January 16
NEW COAL PRICE PASS-THROUGH REGULATION BENEFITS CHINA IPPS - FITCH RATINGS
Fitch Ratings says the new Coal Price Pass-through Mechanism announced by the National Development and Reform Commission (NDRC) on 31 December ...
Tuesday, 05 January 16
BIG COAL MINERS PLAN HIGHER PRODUCTION THIS YEAR - THE JAKARTA POST
The country’s major coal miners plan to further boost production in 2016 although analysts estimate that an oversupply in the world’s c ...
Tuesday, 05 January 16
THE SHIPPING MARKET IN 2015 AND LOOKING FORWARD - BIMCO
Global economy: menacing clouds in the sky cast a shadow on global economic developments 2015 never really took off, even though the global economi ...
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- Eastern Energy - Thailand
- Chettinad Cement Corporation Ltd - India
- Global Green Power PLC Corporation, Philippines
- Central Electricity Authority - India
- Gujarat Mineral Development Corp Ltd - India
- Wilmar Investment Holdings
- Attock Cement Pakistan Limited
- Power Finance Corporation Ltd., India
- Pendopo Energi Batubara - Indonesia
- Savvy Resources Ltd - HongKong
- GVK Power & Infra Limited - India
- McConnell Dowell - Australia
- Vizag Seaport Private Limited - India
- VISA Power Limited - India
- Ministry of Mines - Canada
- Thai Mozambique Logistica
- CIMB Investment Bank - Malaysia
- Mintek Dendrill Indonesia
- Toyota Tsusho Corporation, Japan
- Heidelberg Cement - Germany
- ICICI Bank Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Sidhee Cement - India
- Parliament of New Zealand
- Anglo American - United Kingdom
- Agrawal Coal Company - India
- Meralco Power Generation, Philippines
- Romanian Commodities Exchange
- Bangladesh Power Developement Board
- Economic Council, Georgia
- OPG Power Generation Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- Oldendorff Carriers - Singapore
- GN Power Mariveles Coal Plant, Philippines
- The State Trading Corporation of India Ltd
- Independent Power Producers Association of India
- Therma Luzon, Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Banpu Public Company Limited - Thailand
- Energy Development Corp, Philippines
- The Treasury - Australian Government
- Jindal Steel & Power Ltd - India
- Antam Resourcindo - Indonesia
- Bhoruka Overseas - Indonesia
- Orica Australia Pty. Ltd.
- Semirara Mining and Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement - Thailand
- Marubeni Corporation - India
- Essar Steel Hazira Ltd - India
- Xindia Steels Limited - India
- Australian Coal Association
- Kideco Jaya Agung - Indonesia
- Sojitz Corporation - Japan
- Sical Logistics Limited - India
- Tamil Nadu electricity Board
- Sree Jayajothi Cements Limited - India
- Sarangani Energy Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Medco Energi Mining Internasional
- Coalindo Energy - Indonesia
- PTC India Limited - India
- Krishnapatnam Port Company Ltd. - India
- Larsen & Toubro Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Central Java Power - Indonesia
- Siam City Cement PLC, Thailand
- Singapore Mercantile Exchange
- Mercuria Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Africa Commodities Group - South Africa
- Dalmia Cement Bharat India
- San Jose City I Power Corp, Philippines
- Carbofer General Trading SA - India
- Kartika Selabumi Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Uttam Galva Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Metalloyd Limited - United Kingdom
- Lanco Infratech Ltd - India
- Iligan Light & Power Inc, Philippines
- CNBM International Corporation - China
- Standard Chartered Bank - UAE
- London Commodity Brokers - England
- Thiess Contractors Indonesia
- Indo Tambangraya Megah - Indonesia
- Sakthi Sugars Limited - India
- Cigading International Bulk Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Bulk Trading Sa - Switzerland
- Kohat Cement Company Ltd. - Pakistan
- TNB Fuel Sdn Bhd - Malaysia
- Posco Energy - South Korea
- Aboitiz Power Corporation - Philippines
- Australian Commodity Traders Exchange
- MS Steel International - UAE
- Rashtriya Ispat Nigam Limited - India
- Mercator Lines Limited - India
- Latin American Coal - Colombia
- Indian Oil Corporation Limited
- Electricity Authority, New Zealand
- ASAPP Information Group - India
- LBH Netherlands Bv - Netherlands
- Deloitte Consulting - India
- Chamber of Mines of South Africa
- New Zealand Coal & Carbon
- Orica Mining Services - Indonesia
- Global Coal Blending Company Limited - Australia
- European Bulk Services B.V. - Netherlands
- Samtan Co., Ltd - South Korea
- Kaltim Prima Coal - Indonesia
- Bhatia International Limited - India
- Maheswari Brothers Coal Limited - India
- Semirara Mining Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Trasteel International SA, Italy
- Ceylon Electricity Board - Sri Lanka
- Binh Thuan Hamico - Vietnam
- Ambuja Cements Ltd - India
- Electricity Generating Authority of Thailand
- Karaikal Port Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Straits Asia Resources Limited - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Finance - Indonesia
- Petron Corporation, Philippines
- Aditya Birla Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indika Energy - Indonesia
- Kumho Petrochemical, South Korea
- Vedanta Resources Plc - India
- Directorate Of Revenue Intelligence - India
- Port Waratah Coal Services - Australia
- Intertek Mineral Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Coal and Oil Company - UAE
- Wood Mackenzie - Singapore
- Kapuas Tunggal Persada - Indonesia
- SMC Global Power, Philippines
- Indian Energy Exchange, India
- IEA Clean Coal Centre - UK
- IHS Mccloskey Coal Group - USA
- Coastal Gujarat Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Riau Bara Harum - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Borneo Indobara - Indonesia
- Bhushan Steel Limited - India
- Altura Mining Limited, Indonesia
- PowerSource Philippines DevCo
- Bank of Tokyo Mitsubishi UFJ Ltd
- Madhucon Powers Ltd - India
- International Coal Ventures Pvt Ltd - India
- Grasim Industreis Ltd - India
- SMG Consultants - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Coal Council - USA
- South Luzon Thermal Energy Corporation
- Energy Link Ltd, New Zealand
- Makarim & Taira - Indonesia
- Cement Manufacturers Association - India
- Tata Chemicals Ltd - India
- Georgia Ports Authority, United States
- Simpson Spence & Young - Indonesia
- Renaissance Capital - South Africa
- Indogreen Group - Indonesia
- Barasentosa Lestari - Indonesia
- Videocon Industries ltd - India
- Bharathi Cement Corporation - India
- Globalindo Alam Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Goldman Sachs - Singapore
- Karbindo Abesyapradhi - Indoneisa
- India Bulls Power Limited - India
- TeaM Sual Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- AsiaOL BioFuels Corp., Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Indonesian Coal Mining Association
- GAC Shipping (India) Pvt Ltd
- White Energy Company Limited
- Baramulti Group, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Parry Sugars Refinery, India
- GMR Energy Limited - India
- Alfred C Toepfer International GmbH - Germany
- Bukit Makmur.PT - Indonesia
- Interocean Group of Companies - India
- Mjunction Services Limited - India
- Bukit Baiduri Energy - Indonesia
- Minerals Council of Australia
- SN Aboitiz Power Inc, Philippines
- Edison Trading Spa - Italy
- The University of Queensland
- Vijayanagar Sugar Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Planning Commission, India
- Sindya Power Generating Company Private Ltd
- Commonwealth Bank - Australia
- Gujarat Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Rio Tinto Coal - Australia
- Ministry of Transport, Egypt
- Jaiprakash Power Ventures ltd
- Global Business Power Corporation, Philippines
- Malabar Cements Ltd - India
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