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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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Sunday, 13 December 15
THE LOW VESSEL DEMANDS PUSHED DOWN BALTIC DRY INDEX FURTHER DOWN
COALspot.com: The low vessel demand across nearly all vessel sizes pushed the Baltic Exchange’s main sea freight index further down in this F ...
Sunday, 13 December 15
DRY BULK RATES KEEP ON FALLING AS LOW VESSEL DEMAND IS STILL THE NORM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market nowadays is in an endless downward spiral, which as it turns out is unable to recover, at least as long as the current balance ...
Friday, 11 December 15
US COAL PRODUCTION UP 7.7% IN WEEK ENDED DECEMBER 5, 2015
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 16.1 million shor ...
Thursday, 10 December 15
LIENING CARGO - WHICH LIEN CLAUSE APPLIES TO THE BILL OF LADING? : WIKBORG REIN | HELLENIC SHIPPING NEWS
KNOWLEDGE TO ELEVATE
In a dry bulk market where a charterer is not paying freight or hire, its counterparty is often left to consider whether ...
Thursday, 10 December 15
CANADIAN MINER TECK ANNOUNCES LNG HAUL TRUCK PILOT PROJECT
Teck Resources Limited is piloting the use of liquefied natural gas (LNG) as a fuel source in six haul trucks at its Fording River steelmakin ...
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- Siam City Cement - Thailand
- Samtan Co., Ltd - South Korea
- Miang Besar Coal Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Cement Manufacturers Association - India
- LBH Netherlands Bv - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- Tata Chemicals Ltd - India
- Baramulti Group, Indonesia
- Agrawal Coal Company - India
- Star Paper Mills Limited - India
- GMR Energy Limited - India
- Goldman Sachs - Singapore
- Carbofer General Trading SA - India
- Maheswari Brothers Coal Limited - India
- Kaltim Prima Coal - Indonesia
- Mjunction Services Limited - India
- Timah Investasi Mineral - Indoneisa
- Eastern Coal Council - USA
- Energy Link Ltd, New Zealand
- GVK Power & Infra Limited - India
- Sical Logistics Limited - India
- Sakthi Sugars Limited - India
- Larsen & Toubro Limited - India
- Aditya Birla Group - India
- Bukit Baiduri Energy - Indonesia
- Indonesian Coal Mining Association
- Bahari Cakrawala Sebuku - Indonesia
- The State Trading Corporation of India Ltd
- Australian Coal Association
- Holcim Trading Pte Ltd - Singapore
- Coal and Oil Company - UAE
- Vizag Seaport Private Limited - India
- Minerals Council of Australia
- Latin American Coal - Colombia
- Ministry of Mines - Canada
- CIMB Investment Bank - Malaysia
- Karaikal Port Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Therma Luzon, Inc, Philippines
- Banpu Public Company Limited - Thailand
- Marubeni Corporation - India
- Parry Sugars Refinery, India
- Bhushan Steel Limited - India
- White Energy Company Limited
- Asmin Koalindo Tuhup - Indonesia
- Anglo American - United Kingdom
- Renaissance Capital - South Africa
- Bayan Resources Tbk. - Indonesia
- Energy Development Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- TeaM Sual Corporation - Philippines
- Vedanta Resources Plc - India
- Electricity Authority, New Zealand
- Sree Jayajothi Cements Limited - India
- Singapore Mercantile Exchange
- Mercator Lines Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Africa Commodities Group - South Africa
- Meenaskhi Energy Private Limited - India
- Bulk Trading Sa - Switzerland
- Kapuas Tunggal Persada - Indonesia
- Kobexindo Tractors - Indoneisa
- Chettinad Cement Corporation Ltd - India
- SMG Consultants - Indonesia
- Medco Energi Mining Internasional
- Port Waratah Coal Services - Australia
- Formosa Plastics Group - Taiwan
- Heidelberg Cement - Germany
- Pendopo Energi Batubara - Indonesia
- Intertek Mineral Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- India Bulls Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Chamber of Mines of South Africa
- Makarim & Taira - Indonesia
- London Commodity Brokers - England
- Interocean Group of Companies - India
- SN Aboitiz Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Central Java Power - Indonesia
- Posco Energy - South Korea
- Kalimantan Lumbung Energi - Indonesia
- SMC Global Power, Philippines
- Mintek Dendrill Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Global Coal Blending Company Limited - Australia
- Sindya Power Generating Company Private Ltd
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- New Zealand Coal & Carbon
- Indian Oil Corporation Limited
- Neyveli Lignite Corporation Ltd, - India
- Ceylon Electricity Board - Sri Lanka
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The Treasury - Australian Government
- McConnell Dowell - Australia
- Sarangani Energy Corporation, Philippines
- Mercuria Energy - Indonesia
- Malabar Cements Ltd - India
- Indogreen Group - Indonesia
- Kumho Petrochemical, South Korea
- Australian Commodity Traders Exchange
- Merrill Lynch Commodities Europe
- Trasteel International SA, Italy
- South Luzon Thermal Energy Corporation
- Ambuja Cements Ltd - India
- Deloitte Consulting - India
- Edison Trading Spa - Italy
- Uttam Galva Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Wood Mackenzie - Singapore
- Simpson Spence & Young - Indonesia
- The University of Queensland
- Standard Chartered Bank - UAE
- Xindia Steels Limited - India
- Petron Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bukit Makmur.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Jindal Steel & Power Ltd - India
- International Coal Ventures Pvt Ltd - India
- Meralco Power Generation, Philippines
- Aboitiz Power Corporation - Philippines
- Global Business Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Altura Mining Limited, Indonesia
- Globalindo Alam Lestari - Indonesia
- Economic Council, Georgia
- VISA Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Bharathi Cement Corporation - India
- Orica Mining Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Videocon Industries ltd - India
- ICICI Bank Limited - India
- Georgia Ports Authority, United States
- Coastal Gujarat Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Romanian Commodities Exchange
- Global Green Power PLC Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Oldendorff Carriers - Singapore
- ASAPP Information Group - India
- Parliament of New Zealand
- Riau Bara Harum - Indonesia
- Electricity Generating Authority of Thailand
- Essar Steel Hazira Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Gujarat Mineral Development Corp Ltd - India
- Independent Power Producers Association of India
- IEA Clean Coal Centre - UK
- Eastern Energy - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Ministry of Transport, Egypt
- PTC India Limited - India
- Commonwealth Bank - Australia
- AsiaOL BioFuels Corp., Philippines
- Coalindo Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Binh Thuan Hamico - Vietnam
- Salva Resources Pvt Ltd - India
- Dalmia Cement Bharat India
- San Jose City I Power Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Ind-Barath Power Infra Limited - India
- Bangladesh Power Developement Board
- Thai Mozambique Logistica
- Metalloyd Limited - United Kingdom
- CNBM International Corporation - China
- Lanco Infratech Ltd - India
- Ministry of Finance - Indonesia
- Siam City Cement PLC, Thailand
- Madhucon Powers Ltd - India
- GAC Shipping (India) Pvt Ltd
- GN Power Mariveles Coal Plant, Philippines
- Wilmar Investment Holdings
- Bhatia International Limited - India
- European Bulk Services B.V. - Netherlands
- Sojitz Corporation - Japan
- Maharashtra Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- Power Finance Corporation Ltd., India
- Leighton Contractors Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Planning Commission, India
- Kepco SPC Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Manunggal Multi Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Tamil Nadu electricity Board
- Semirara Mining Corp, Philippines
- Orica Australia Pty. Ltd.
- Kideco Jaya Agung - Indonesia
- MS Steel International - UAE
- Central Electricity Authority - India
- Toyota Tsusho Corporation, Japan
- Indian Energy Exchange, India
- Indika Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Rio Tinto Coal - Australia
- Grasim Industreis Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
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