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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, 18 December 15
CHINA GROWTH SHOCK TO HIT ENERGY, SHIPPING, STEEL MOST - FITCH
Energy, shipping and steel would be the hardest-hit sectors in Asia-Pacific (APAC) in the event of a sharp slowdown in Chinese growth, says Fitch R ...
Friday, 18 December 15
WEEKLY U.S. COAL PRODUCTION REMAINS FLAT ACROSS ALL BASINS
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 16.1 million shor ...
Thursday, 17 December 15
THE LOW DEMAND AND EXCESS COAL OUTPUT, KEEP THE FOB INDONESIA COAL SWAPS UNDER PRESSURE
COALspot.com: Indonesian coal swap for delivery Q1 2016 rose month on month and decline slightly week over week. For the week ended December 11, 20 ...
Thursday, 17 December 15
GLADSTONE PORT COAL RECORD LOOMING, EXPORTS UP 12% - GLADSTONE OBSERVER
COAL exports from Gladstone's port have taken a leap, with more than seven million tonnes leaving the wharves in November.
That increase i ...
Wednesday, 16 December 15
FOB RICHARDS BAY COAL SWAP SLUMP 5.5% FROM LAST MONTH
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q1’ 2016 decline month over month and week over week.
The Q1’ 2016 &nbs ...
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- Mercuria Energy - Indonesia
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- Minerals Council of Australia
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- Bangladesh Power Developement Board
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- Neyveli Lignite Corporation Ltd, - India
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- Bulk Trading Sa - Switzerland
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- Ministry of Transport, Egypt
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- Petron Corporation, Philippines
- Kaltim Prima Coal - Indonesia
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- Toyota Tsusho Corporation, Japan
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- TeaM Sual Corporation - Philippines
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- McConnell Dowell - Australia
- Star Paper Mills Limited - India
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- SMG Consultants - Indonesia
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- Sojitz Corporation - Japan
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- White Energy Company Limited
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- Power Finance Corporation Ltd., India
- Electricity Authority, New Zealand
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- Banpu Public Company Limited - Thailand
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- Leighton Contractors Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Parry Sugars Refinery, India
- Thiess Contractors Indonesia
- The University of Queensland
- Attock Cement Pakistan Limited
- Bukit Makmur.PT - Indonesia
- ICICI Bank Limited - India
- Cigading International Bulk Terminal - Indonesia
- Meralco Power Generation, Philippines
- Samtan Co., Ltd - South Korea
- Eastern Coal Council - USA
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- Offshore Bulk Terminal Pte Ltd, Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Jaiprakash Power Ventures ltd
- Standard Chartered Bank - UAE
- Heidelberg Cement - Germany
- Krishnapatnam Port Company Ltd. - India
- Bukit Baiduri Energy - Indonesia
- Wilmar Investment Holdings
- Eastern Energy - Thailand
- GMR Energy Limited - India
- OPG Power Generation Pvt Ltd - India
- London Commodity Brokers - England
- Alfred C Toepfer International GmbH - Germany
- Aboitiz Power Corporation - Philippines
- Indonesian Coal Mining Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PowerSource Philippines DevCo
- IEA Clean Coal Centre - UK
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- European Bulk Services B.V. - Netherlands
- Romanian Commodities Exchange
- Holcim Trading Pte Ltd - Singapore
- Thai Mozambique Logistica
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- Price Waterhouse Coopers - Russia
- GVK Power & Infra Limited - India
- San Jose City I Power Corp, Philippines
- VISA Power Limited - India
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- Altura Mining Limited, Indonesia
- Bhoruka Overseas - Indonesia
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- Chamber of Mines of South Africa
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- Energy Link Ltd, New Zealand
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- Africa Commodities Group - South Africa
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- Bukit Asam (Persero) Tbk - Indonesia
- Aditya Birla Group - India
- Ministry of Mines - Canada
- Latin American Coal - Colombia
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- Semirara Mining Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Economic Council, Georgia
- Therma Luzon, Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kobexindo Tractors - Indoneisa
- Merrill Lynch Commodities Europe
- Sakthi Sugars Limited - India
- Vedanta Resources Plc - India
- Lanco Infratech Ltd - India
- Commonwealth Bank - Australia
- Maheswari Brothers Coal Limited - India
- Borneo Indobara - Indonesia
- Global Green Power PLC Corporation, Philippines
- PTC India Limited - India
- Kepco SPC Power Corporation, Philippines
- Australian Coal Association
- Rashtriya Ispat Nigam Limited - India
- Xindia Steels Limited - India
- Karaikal Port Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Formosa Plastics Group - Taiwan
- Central Java Power - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Generating Authority of Thailand
- Gujarat Mineral Development Corp Ltd - India
- Savvy Resources Ltd - HongKong
- Kohat Cement Company Ltd. - Pakistan
- CIMB Investment Bank - Malaysia
- Madhucon Powers Ltd - India
- Bhushan Steel Limited - India
- Semirara Mining and Power Corporation, Philippines
- Cement Manufacturers Association - India
- Straits Asia Resources Limited - Singapore
- Sindya Power Generating Company Private Ltd
- Baramulti Group, Indonesia
- Riau Bara Harum - Indonesia
- Coal and Oil Company - UAE
- Oldendorff Carriers - Singapore
- Vizag Seaport Private Limited - India
- Larsen & Toubro Limited - India
- Makarim & Taira - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Ind-Barath Power Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Mintek Dendrill Indonesia
- Edison Trading Spa - Italy
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement - Thailand
- CNBM International Corporation - China
- Jindal Steel & Power Ltd - India
- Binh Thuan Hamico - Vietnam
- Indian Energy Exchange, India
- Australian Commodity Traders Exchange
- The Treasury - Australian Government
- Sarangani Energy Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Malabar Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- LBH Netherlands Bv - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Gujarat Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- Rio Tinto Coal - Australia
- Essar Steel Hazira Ltd - India
- Singapore Mercantile Exchange
- Renaissance Capital - South Africa
- Dalmia Cement Bharat India
- Sical Logistics Limited - India
- India Bulls Power Limited - India
- Coalindo Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Agrawal Coal Company - India
- Directorate Of Revenue Intelligence - India
- Iligan Light & Power Inc, Philippines
- Parliament of New Zealand
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- Independent Power Producers Association of India
- IHS Mccloskey Coal Group - USA
- MS Steel International - UAE
- Anglo American - United Kingdom
- PNOC Exploration Corporation - Philippines
- Goldman Sachs - Singapore
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