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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, 23 December 15
FOB NEWCASTLE COAL SWAP CLOSES FIRM
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2016 delivery up $0.45 per ton (1.22%) month over month to US$ 37.20 per ton. The swap wa ...
Tuesday, 22 December 15
3800 GAR INDEX CLOSED AT US$ 22.03 PER TON; DOWN 0.15% W-O-W
COALspot.com: The 5000 GAR CS (i) coal index decline US$ 0.03 per ton (-0.07 %) week over week.
According to the CS (i) coal (system generated ...
Monday, 21 December 15
Q3' 2016 CFR SOUTH CHINA COAL SWAP CLOSED SLIGHTLY LOWER COMPARE TO Q1'16 CLOSING PRICE
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2016 delivery up US$ 0.20 (0.48%) per ton month over month.
A commodity swap is a ...
Sunday, 20 December 15
THE FREIGHT RATES FROM INDONESIA TO INDIA IS EXPECTED TO BE SOFT NEXT WEEK
COALspot.com: The BDI facing all time low's this week. The bulk dry index closed at 477 points on 18 December 2015.
The cape index was als ...
Friday, 18 December 15
WHEN IS A MASTER ENTITLED TO REFUSE DAMAGED CARGO? A REMINDER - THE STANDARD CLUB
KNOWLEDGE TO ELEVATE
A master’s authority to clause bills of lading issued by or on his behalf can sometimes become the cause of disagreeme ...
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- TNB Fuel Sdn Bhd - Malaysia
- Port Waratah Coal Services - Australia
- Intertek Mineral Services - Indonesia
- Eastern Coal Council - USA
- Maharashtra Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- The University of Queensland
- Coastal Gujarat Power Limited - India
- Meralco Power Generation, Philippines
- Manunggal Multi Energi - Indonesia
- Central Java Power - Indonesia
- Star Paper Mills Limited - India
- Standard Chartered Bank - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Mercuria Energy - Indonesia
- Indika Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Salva Resources Pvt Ltd - India
- Australian Coal Association
- Banpu Public Company Limited - Thailand
- Commonwealth Bank - Australia
- MS Steel International - UAE
- Minerals Council of Australia
- IEA Clean Coal Centre - UK
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The Treasury - Australian Government
- Bukit Baiduri Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining Corp, Philippines
- Lanco Infratech Ltd - India
- Kartika Selabumi Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Anglo American - United Kingdom
- Georgia Ports Authority, United States
- Mercator Lines Limited - India
- Chamber of Mines of South Africa
- Africa Commodities Group - South Africa
- Heidelberg Cement - Germany
- Planning Commission, India
- Mintek Dendrill Indonesia
- India Bulls Power Limited - India
- Indonesian Coal Mining Association
- Rio Tinto Coal - Australia
- Kohat Cement Company Ltd. - Pakistan
- Tamil Nadu electricity Board
- Orica Mining Services - Indonesia
- Agrawal Coal Company - India
- GVK Power & Infra Limited - India
- Economic Council, Georgia
- Carbofer General Trading SA - India
- Oldendorff Carriers - Singapore
- New Zealand Coal & Carbon
- OPG Power Generation Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Wood Mackenzie - Singapore
- Pendopo Energi Batubara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Edison Trading Spa - Italy
- Renaissance Capital - South Africa
- Global Green Power PLC Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- IHS Mccloskey Coal Group - USA
- Therma Luzon, Inc, Philippines
- Ministry of Transport, Egypt
- Directorate General of MIneral and Coal - Indonesia
- Jaiprakash Power Ventures ltd
- Karbindo Abesyapradhi - Indoneisa
- Uttam Galva Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Electricity Generating Authority of Thailand
- Globalindo Alam Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Energy Development Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Gujarat Sidhee Cement - India
- White Energy Company Limited
- Ministry of Finance - Indonesia
- Sojitz Corporation - Japan
- GAC Shipping (India) Pvt Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Baramulti Group, Indonesia
- Indian Energy Exchange, India
- Coal and Oil Company - UAE
- Ministry of Mines - Canada
- Wilmar Investment Holdings
- CNBM International Corporation - China
- Essar Steel Hazira Ltd - India
- Cement Manufacturers Association - India
- Madhucon Powers Ltd - India
- Xindia Steels Limited - India
- Latin American Coal - Colombia
- GMR Energy Limited - India
- Neyveli Lignite Corporation Ltd, - India
- International Coal Ventures Pvt Ltd - India
- Sical Logistics Limited - India
- Trasteel International SA, Italy
- Attock Cement Pakistan Limited
- Gujarat Mineral Development Corp Ltd - India
- Indo Tambangraya Megah - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- Altura Mining Limited, Indonesia
- Jindal Steel & Power Ltd - India
- Electricity Authority, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Indogreen Group - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Aboitiz Power Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Bahari Cakrawala Sebuku - Indonesia
- Vedanta Resources Plc - India
- PTC India Limited - India
- Rashtriya Ispat Nigam Limited - India
- Toyota Tsusho Corporation, Japan
- Medco Energi Mining Internasional
- European Bulk Services B.V. - Netherlands
- Australian Commodity Traders Exchange
- SMC Global Power, Philippines
- Independent Power Producers Association of India
- Simpson Spence & Young - Indonesia
- Sindya Power Generating Company Private Ltd
- The State Trading Corporation of India Ltd
- Ind-Barath Power Infra Limited - India
- Malabar Cements Ltd - India
- SMG Consultants - Indonesia
- San Jose City I Power Corp, Philippines
- Tata Chemicals Ltd - India
- Goldman Sachs - Singapore
- Dalmia Cement Bharat India
- Pipit Mutiara Jaya. PT, Indonesia
- Larsen & Toubro Limited - India
- Parliament of New Zealand
- London Commodity Brokers - England
- Kalimantan Lumbung Energi - Indonesia
- Grasim Industreis Ltd - India
- VISA Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Parry Sugars Refinery, India
- Barasentosa Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Meenaskhi Energy Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TeaM Sual Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Global Coal Blending Company Limited - Australia
- Romanian Commodities Exchange
- Bhatia International Limited - India
- Sree Jayajothi Cements Limited - India
- Mjunction Services Limited - India
- Timah Investasi Mineral - Indoneisa
- Antam Resourcindo - Indonesia
- Ambuja Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Directorate Of Revenue Intelligence - India
- Iligan Light & Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Power Finance Corporation Ltd., India
- Marubeni Corporation - India
- Sakthi Sugars Limited - India
- Kepco SPC Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Makarim & Taira - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Riau Bara Harum - Indonesia
- ASAPP Information Group - India
- Miang Besar Coal Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Global Business Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Savvy Resources Ltd - HongKong
- Vizag Seaport Private Limited - India
- Energy Link Ltd, New Zealand
- Holcim Trading Pte Ltd - Singapore
- SN Aboitiz Power Inc, Philippines
- Eastern Energy - Thailand
- Kaltim Prima Coal - Indonesia
- ICICI Bank Limited - India
- Chettinad Cement Corporation Ltd - India
- Bhushan Steel Limited - India
- Thai Mozambique Logistica
- Aditya Birla Group - India
- Kideco Jaya Agung - Indonesia
- Metalloyd Limited - United Kingdom
- Videocon Industries ltd - India
- Deloitte Consulting - India
- Siam City Cement PLC, Thailand
- Bharathi Cement Corporation - India
- Central Electricity Authority - India
- Alfred C Toepfer International GmbH - Germany
- Posco Energy - South Korea
- Indian Oil Corporation Limited
- Price Waterhouse Coopers - Russia
- Thiess Contractors Indonesia
- Leighton Contractors Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Siam City Cement - Thailand
- Petron Corporation, Philippines
- Coalindo Energy - Indonesia
- PowerSource Philippines DevCo
- Kumho Petrochemical, South Korea
- McConnell Dowell - Australia
- Interocean Group of Companies - India
- Asmin Koalindo Tuhup - Indonesia
- Singapore Mercantile Exchange
- Bangladesh Power Developement Board
- LBH Netherlands Bv - Netherlands
- Borneo Indobara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
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