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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, 06 December 15
DESPITE TEMPTING NEWBUILDING PRICES, CONTRACTING IN DRY BULK REMAINS LOW - BIMCO
The current newbuilding prices for dry bulk ships has dropped so much that they just passed the lows of 2012 heading downwards and are now at the l ...
Friday, 04 December 15
FOB INDONESIA COAL SWAPS ARE ALMOST FLAT OVER WEAK DEMAND
COALspot.com: Indonesian coal swaps for delivery Q1 2016 declined month on month and rose slightly week over week. Coal prices seen very margi ...
Friday, 04 December 15
COAL PRODUCTION IN THE U.S. FOR W/E NOVEMBER 28TH FELL SLIGHTLY FROM THE PREVIOUS WEEK
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 15.0 million shor ...
Friday, 04 December 15
MINING OUTLOOK WEAKENS FURTHER ON FALLING CHINESE DEMAND - FITCH
COALspot.com: Fitch Ratings' outlook for the global mining sector in 2016 is firmly negative, reflecting our view that Chinese demand will cont ...
Thursday, 03 December 15
DRY BULK: THERMAL COAL LOWER USAGE UNDER A POTENTIAL NEW CLIMATE DEAL WILL ADVERSELY IMPACT THE MARKET'S RECOVERY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
In direct contrast to the tanker market, the dry bulk one has seen demand for key commodities, such a coal, dwindling down over the course of the p ...
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- Agrawal Coal Company - India
- Vizag Seaport Private Limited - India
- Riau Bara Harum - Indonesia
- Bayan Resources Tbk. - Indonesia
- Chettinad Cement Corporation Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Indogreen Group - Indonesia
- Cement Manufacturers Association - India
- Siam City Cement - Thailand
- Sical Logistics Limited - India
- Parliament of New Zealand
- Karbindo Abesyapradhi - Indoneisa
- White Energy Company Limited
- Central Electricity Authority - India
- Carbofer General Trading SA - India
- Sree Jayajothi Cements Limited - India
- Bulk Trading Sa - Switzerland
- Billiton Holdings Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Ind-Barath Power Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- Indika Energy - Indonesia
- Ministry of Finance - Indonesia
- GAC Shipping (India) Pvt Ltd
- Kumho Petrochemical, South Korea
- South Luzon Thermal Energy Corporation
- Eastern Coal Council - USA
- Vijayanagar Sugar Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Borneo Indobara - Indonesia
- Interocean Group of Companies - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Simpson Spence & Young - Indonesia
- Iligan Light & Power Inc, Philippines
- Semirara Mining Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercator Lines Limited - India
- Posco Energy - South Korea
- Leighton Contractors Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- ASAPP Information Group - India
- TeaM Sual Corporation - Philippines
- Petron Corporation, Philippines
- Vedanta Resources Plc - India
- Bhoruka Overseas - Indonesia
- Kaltim Prima Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- Gujarat Sidhee Cement - India
- London Commodity Brokers - England
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercuria Energy - Indonesia
- PTC India Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Thiess Contractors Indonesia
- Kobexindo Tractors - Indoneisa
- Price Waterhouse Coopers - Russia
- Siam City Cement PLC, Thailand
- Essar Steel Hazira Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Indonesian Coal Mining Association
- Independent Power Producers Association of India
- India Bulls Power Limited - India
- Sindya Power Generating Company Private Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Larsen & Toubro Limited - India
- Mjunction Services Limited - India
- Central Java Power - Indonesia
- Georgia Ports Authority, United States
- Orica Australia Pty. Ltd.
- Directorate General of MIneral and Coal - Indonesia
- PowerSource Philippines DevCo
- Mintek Dendrill Indonesia
- CIMB Investment Bank - Malaysia
- Sakthi Sugars Limited - India
- Sinarmas Energy and Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Meralco Power Generation, Philippines
- IHS Mccloskey Coal Group - USA
- Kepco SPC Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- GVK Power & Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Standard Chartered Bank - UAE
- Salva Resources Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Madhucon Powers Ltd - India
- New Zealand Coal & Carbon
- Attock Cement Pakistan Limited
- Renaissance Capital - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- PNOC Exploration Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Trasteel International SA, Italy
- The Treasury - Australian Government
- Jindal Steel & Power Ltd - India
- Wilmar Investment Holdings
- Barasentosa Lestari - Indonesia
- Lanco Infratech Ltd - India
- Banpu Public Company Limited - Thailand
- Jaiprakash Power Ventures ltd
- Savvy Resources Ltd - HongKong
- Orica Mining Services - Indonesia
- Straits Asia Resources Limited - Singapore
- Bhushan Steel Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Deloitte Consulting - India
- Kalimantan Lumbung Energi - Indonesia
- Bhatia International Limited - India
- CNBM International Corporation - China
- Malabar Cements Ltd - India
- Antam Resourcindo - Indonesia
- Coalindo Energy - Indonesia
- Tamil Nadu electricity Board
- Commonwealth Bank - Australia
- Star Paper Mills Limited - India
- Kapuas Tunggal Persada - Indonesia
- GMR Energy Limited - India
- The State Trading Corporation of India Ltd
- Aditya Birla Group - India
- Tata Chemicals Ltd - India
- Samtan Co., Ltd - South Korea
- Heidelberg Cement - Germany
- Global Business Power Corporation, Philippines
- Anglo American - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Wood Mackenzie - Singapore
- San Jose City I Power Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Eastern Energy - Thailand
- Baramulti Group, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Minerals Council of Australia
- PetroVietnam Power Coal Import and Supply Company
- Toyota Tsusho Corporation, Japan
- Parry Sugars Refinery, India
- Sarangani Energy Corporation, Philippines
- Ministry of Mines - Canada
- Rio Tinto Coal - Australia
- Pendopo Energi Batubara - Indonesia
- SMG Consultants - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kideco Jaya Agung - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Binh Thuan Hamico - Vietnam
- Electricity Generating Authority of Thailand
- Timah Investasi Mineral - Indoneisa
- Planning Commission, India
- Xindia Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Indian Energy Exchange, India
- Port Waratah Coal Services - Australia
- Australian Commodity Traders Exchange
- Uttam Galva Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Africa Commodities Group - South Africa
- Edison Trading Spa - Italy
- Merrill Lynch Commodities Europe
- ICICI Bank Limited - India
- Altura Mining Limited, Indonesia
- Makarim & Taira - Indonesia
- Maheswari Brothers Coal Limited - India
- Manunggal Multi Energi - Indonesia
- Ambuja Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Marubeni Corporation - India
- IEA Clean Coal Centre - UK
- Dalmia Cement Bharat India
- Bukit Baiduri Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Energy Development Corp, Philippines
- Singapore Mercantile Exchange
- Grasim Industreis Ltd - India
- Power Finance Corporation Ltd., India
- Ministry of Transport, Egypt
- SN Aboitiz Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Latin American Coal - Colombia
- Electricity Authority, New Zealand
- Bharathi Cement Corporation - India
- SMC Global Power, Philippines
- Chamber of Mines of South Africa
- Asmin Koalindo Tuhup - Indonesia
- Australian Coal Association
- Goldman Sachs - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- International Coal Ventures Pvt Ltd - India
- McConnell Dowell - Australia
- Bukit Makmur.PT - Indonesia
- Sojitz Corporation - Japan
- Romanian Commodities Exchange
- Kartika Selabumi Mining - Indonesia
- Indian Oil Corporation Limited
- Medco Energi Mining Internasional
- MS Steel International - UAE
- Maharashtra Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Economic Council, Georgia
- Videocon Industries ltd - India
- Krishnapatnam Port Company Ltd. - India
- Energy Link Ltd, New Zealand
- Rashtriya Ispat Nigam Limited - India
- The University of Queensland
- Coal and Oil Company - UAE
- Bangladesh Power Developement Board
- VISA Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Intertek Mineral Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
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