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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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Monday, 30 November 15
ASSOCARBONI LOOKS AT COAL FROM A DIFFERENT ANGLE
ASSOCARBONI is in favour of an international mechanism to provide financial support to countries building high efficiency low emission coal plants. ...
Monday, 30 November 15
CS 5000 GAR COAL INDEX FIRM D-O-D; WEAK W-O-W
COALspot.com: The 5000 GAR CS (i) coal index up slightly day over day.
According to the system generated index, the CS 50 (5000 GAR coal) was ...
Monday, 30 November 15
CFR SOUTH CHINA COAL SWAPS REMAINED UNCHANGED FROM LAST WEEK
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2016 delivery declined US$ 4.50 (9.78%) per ton month over month.
A commodity swap ...
Sunday, 29 November 15
CAPE INDEX SURGES 383 POINTS WEEK OVER WEEK, BOOSTS BALTIC DRY INDEX
COALspot.com: The Baltic Dry Index, a measure of shipping rates, fell to 498 points on 20 November and touched a 30-year low, but on 27 November th ...
Friday, 27 November 15
INDONESIA COAL SWAPS: WEEK ENDING 20 NOVEMBER CLOSED HIGHER COMPARED TO THE PREVIOUS WEEK
COALspot.com: Indonesian coal swaps for delivery Q1 2016 declined month on month and up on week over week. Coal prices seen slight improvements thi ...
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- Medco Energi Mining Internasional
- Electricity Authority, New Zealand
- Toyota Tsusho Corporation, Japan
- Sindya Power Generating Company Private Ltd
- Neyveli Lignite Corporation Ltd, - India
- Star Paper Mills Limited - India
- Larsen & Toubro Limited - India
- Sree Jayajothi Cements Limited - India
- Australian Coal Association
- New Zealand Coal & Carbon
- Mintek Dendrill Indonesia
- Timah Investasi Mineral - Indoneisa
- Banpu Public Company Limited - Thailand
- Port Waratah Coal Services - Australia
- GAC Shipping (India) Pvt Ltd
- Cement Manufacturers Association - India
- Antam Resourcindo - Indonesia
- Australian Commodity Traders Exchange
- Uttam Galva Steels Limited - India
- Siam City Cement - Thailand
- The Treasury - Australian Government
- Gujarat Mineral Development Corp Ltd - India
- ICICI Bank Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Vizag Seaport Private Limited - India
- International Coal Ventures Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Savvy Resources Ltd - HongKong
- Gujarat Sidhee Cement - India
- Rashtriya Ispat Nigam Limited - India
- Parry Sugars Refinery, India
- Riau Bara Harum - Indonesia
- Borneo Indobara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Merrill Lynch Commodities Europe
- Indian Oil Corporation Limited
- McConnell Dowell - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Finance - Indonesia
- Global Coal Blending Company Limited - Australia
- CIMB Investment Bank - Malaysia
- White Energy Company Limited
- San Jose City I Power Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Planning Commission, India
- Indonesian Coal Mining Association
- Eastern Energy - Thailand
- Agrawal Coal Company - India
- London Commodity Brokers - England
- Pipit Mutiara Jaya. PT, Indonesia
- Mjunction Services Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Thai Mozambique Logistica
- Bulk Trading Sa - Switzerland
- Central Java Power - Indonesia
- Energy Development Corp, Philippines
- Heidelberg Cement - Germany
- Formosa Plastics Group - Taiwan
- Georgia Ports Authority, United States
- Economic Council, Georgia
- IHS Mccloskey Coal Group - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indika Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Edison Trading Spa - Italy
- Goldman Sachs - Singapore
- Attock Cement Pakistan Limited
- Independent Power Producers Association of India
- Salva Resources Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- GVK Power & Infra Limited - India
- India Bulls Power Limited - India
- Orica Australia Pty. Ltd.
- Bukit Makmur.PT - Indonesia
- IEA Clean Coal Centre - UK
- Mercator Lines Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhatia International Limited - India
- Kideco Jaya Agung - Indonesia
- Carbofer General Trading SA - India
- Kaltim Prima Coal - Indonesia
- Minerals Council of Australia
- Sojitz Corporation - Japan
- Aditya Birla Group - India
- Vijayanagar Sugar Pvt Ltd - India
- Latin American Coal - Colombia
- Electricity Generating Authority of Thailand
- Gujarat Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Kumho Petrochemical, South Korea
- Essar Steel Hazira Ltd - India
- Intertek Mineral Services - Indonesia
- Vedanta Resources Plc - India
- Aboitiz Power Corporation - Philippines
- Romanian Commodities Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- Kepco SPC Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Standard Chartered Bank - UAE
- Wood Mackenzie - Singapore
- OPG Power Generation Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Coastal Gujarat Power Limited - India
- Africa Commodities Group - South Africa
- Samtan Co., Ltd - South Korea
- Makarim & Taira - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Meenaskhi Energy Private Limited - India
- Posco Energy - South Korea
- Kobexindo Tractors - Indoneisa
- SMG Consultants - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Anglo American - United Kingdom
- PNOC Exploration Corporation - Philippines
- Trasteel International SA, Italy
- Siam City Cement PLC, Thailand
- Cigading International Bulk Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Marubeni Corporation - India
- Karaikal Port Pvt Ltd - India
- The University of Queensland
- The State Trading Corporation of India Ltd
- Bhushan Steel Limited - India
- Holcim Trading Pte Ltd - Singapore
- Bayan Resources Tbk. - Indonesia
- LBH Netherlands Bv - Netherlands
- Binh Thuan Hamico - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Jaiprakash Power Ventures ltd
- Indian Energy Exchange, India
- Commonwealth Bank - Australia
- Maheswari Brothers Coal Limited - India
- Leighton Contractors Pty Ltd - Australia
- ASAPP Information Group - India
- Wilmar Investment Holdings
- Petron Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Global Business Power Corporation, Philippines
- Eastern Coal Council - USA
- Dalmia Cement Bharat India
- Kalimantan Lumbung Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- Mercuria Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Power Finance Corporation Ltd., India
- Tata Chemicals Ltd - India
- Oldendorff Carriers - Singapore
- Central Electricity Authority - India
- PetroVietnam Power Coal Import and Supply Company
- Singapore Mercantile Exchange
- Coalindo Energy - Indonesia
- VISA Power Limited - India
- Sarangani Energy Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Malabar Cements Ltd - India
- Meralco Power Generation, Philippines
- Ambuja Cements Ltd - India
- Thiess Contractors Indonesia
- Directorate Of Revenue Intelligence - India
- Therma Luzon, Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tamil Nadu electricity Board
- Ministry of Mines - Canada
- Orica Mining Services - Indonesia
- Videocon Industries ltd - India
- SN Aboitiz Power Inc, Philippines
- Parliament of New Zealand
- Bharathi Cement Corporation - India
- SMC Global Power, Philippines
- AsiaOL BioFuels Corp., Philippines
- Grasim Industreis Ltd - India
- Price Waterhouse Coopers - Russia
- Maharashtra Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Kartika Selabumi Mining - Indonesia
- Madhucon Powers Ltd - India
- Baramulti Group, Indonesia
- Xindia Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Pendopo Energi Batubara - Indonesia
- Chamber of Mines of South Africa
- Coal and Oil Company - UAE
- GMR Energy Limited - India
- CNBM International Corporation - China
- PTC India Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Indogreen Group - Indonesia
- Rio Tinto Coal - Australia
- South Luzon Thermal Energy Corporation
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Metalloyd Limited - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Lanco Infratech Ltd - India
- Deloitte Consulting - India
- Globalindo Alam Lestari - Indonesia
- PowerSource Philippines DevCo
- Energy Link Ltd, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining Corp, Philippines
- Barasentosa Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Bangladesh Power Developement Board
- MS Steel International - UAE
- Global Green Power PLC Corporation, Philippines
- Altura Mining Limited, Indonesia
- Sakthi Sugars Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Renaissance Capital - South Africa
- Miang Besar Coal Terminal - Indonesia
- Sical Logistics Limited - India
- Ministry of Transport, Egypt
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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