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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, 27 November 15
FOB RICHARDS BAY COAL SWAPS UP FROM LAST WEEK
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q1’ 2016 up week over week and month over month.
The Q1’ 2016 swa ...
Thursday, 26 November 15
ITALY'S STEAM COAL IMPORTS EXPECTED TO REACH 16 MILLION TONS AND COKING COAL IMPORTS TO AMOUNT TO 4 MILLION TONS - ASSOCARBONI
ASSOCARBONI LOOKS AT COAL FROM A DIFFERENT ANGLE
- “Coal has made huge steps towards environmental sustainability, making itself t ...
Thursday, 26 November 15
DRY BULK MARKET WILL REBOUND EVENTUALLY, BUT THINGS WILL BECOME EVEN WORSE BEFORE THEY IMPROVE SAYS SHIPBROKER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
As the dry bulk market’s benchmark, the Baltic Dry Index (BDI) reached an all-time late last week and has failed to rebound significantly eve ...
Thursday, 26 November 15
Q3'16 FOB NEWCASTLE COAL SWAP FALLS 27.5% SINCE 20 FEB 2015
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2016 delivery slid $5 per ton (12.05%) month over month to US$ 36.50 per ton. The s ...
Wednesday, 25 November 15
INDIA'S POWER GENERATORS FACE LOW, FALLING UTILISATION RATE - FITCH
COAlspot.com: Fitch Ratings says in a new report that the utilisation rate of India's thermal power generation capacity continued to decline in ...
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- Electricity Authority, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Tata Chemicals Ltd - India
- CNBM International Corporation - China
- Salva Resources Pvt Ltd - India
- Wilmar Investment Holdings
- Bulk Trading Sa - Switzerland
- Kalimantan Lumbung Energi - Indonesia
- Minerals Council of Australia
- Independent Power Producers Association of India
- Maheswari Brothers Coal Limited - India
- Attock Cement Pakistan Limited
- Metalloyd Limited - United Kingdom
- PowerSource Philippines DevCo
- Leighton Contractors Pty Ltd - Australia
- Ministry of Mines - Canada
- Simpson Spence & Young - Indonesia
- SN Aboitiz Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- European Bulk Services B.V. - Netherlands
- South Luzon Thermal Energy Corporation
- SMG Consultants - Indonesia
- Eastern Coal Council - USA
- Xindia Steels Limited - India
- Samtan Co., Ltd - South Korea
- The State Trading Corporation of India Ltd
- Manunggal Multi Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Makmur.PT - Indonesia
- Standard Chartered Bank - UAE
- Directorate Of Revenue Intelligence - India
- Holcim Trading Pte Ltd - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining Corp, Philippines
- Vizag Seaport Private Limited - India
- McConnell Dowell - Australia
- Vijayanagar Sugar Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Anglo American - United Kingdom
- Bhatia International Limited - India
- GMR Energy Limited - India
- Grasim Industreis Ltd - India
- Thiess Contractors Indonesia
- Renaissance Capital - South Africa
- Kobexindo Tractors - Indoneisa
- Bhoruka Overseas - Indonesia
- Central Java Power - Indonesia
- Aboitiz Power Corporation - Philippines
- Mercator Lines Limited - India
- Indo Tambangraya Megah - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Commonwealth Bank - Australia
- Bangladesh Power Developement Board
- Mercuria Energy - Indonesia
- Planning Commission, India
- Gujarat Mineral Development Corp Ltd - India
- Aditya Birla Group - India
- Videocon Industries ltd - India
- Oldendorff Carriers - Singapore
- Singapore Mercantile Exchange
- Cement Manufacturers Association - India
- LBH Netherlands Bv - Netherlands
- Chamber of Mines of South Africa
- Globalindo Alam Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- The Treasury - Australian Government
- Sojitz Corporation - Japan
- Pendopo Energi Batubara - Indonesia
- Makarim & Taira - Indonesia
- Lanco Infratech Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Vedanta Resources Plc - India
- Petrochimia International Co. Ltd.- Taiwan
- Kepco SPC Power Corporation, Philippines
- India Bulls Power Limited - India
- Romanian Commodities Exchange
- Price Waterhouse Coopers - Russia
- Chettinad Cement Corporation Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Malabar Cements Ltd - India
- Rio Tinto Coal - Australia
- Banpu Public Company Limited - Thailand
- Siam City Cement - Thailand
- Mjunction Services Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- VISA Power Limited - India
- Wood Mackenzie - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Kideco Jaya Agung - Indonesia
- Sical Logistics Limited - India
- Meralco Power Generation, Philippines
- Larsen & Toubro Limited - India
- Electricity Generating Authority of Thailand
- Baramulti Group, Indonesia
- Bhushan Steel Limited - India
- Latin American Coal - Colombia
- TeaM Sual Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Formosa Plastics Group - Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Heidelberg Cement - Germany
- Sinarmas Energy and Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- SMC Global Power, Philippines
- Kartika Selabumi Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Deloitte Consulting - India
- Binh Thuan Hamico - Vietnam
- London Commodity Brokers - England
- Australian Commodity Traders Exchange
- Kohat Cement Company Ltd. - Pakistan
- Posco Energy - South Korea
- Parry Sugars Refinery, India
- Global Business Power Corporation, Philippines
- Edison Trading Spa - Italy
- Trasteel International SA, Italy
- Alfred C Toepfer International GmbH - Germany
- Energy Development Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Power Finance Corporation Ltd., India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Asam (Persero) Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- Ambuja Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Eastern Energy - Thailand
- Straits Asia Resources Limited - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ind-Barath Power Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Riau Bara Harum - Indonesia
- Merrill Lynch Commodities Europe
- Siam City Cement PLC, Thailand
- Antam Resourcindo - Indonesia
- San Jose City I Power Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Madhucon Powers Ltd - India
- Intertek Mineral Services - Indonesia
- Interocean Group of Companies - India
- Agrawal Coal Company - India
- Sarangani Energy Corporation, Philippines
- Coalindo Energy - Indonesia
- Indogreen Group - Indonesia
- Barasentosa Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- PNOC Exploration Corporation - Philippines
- Port Waratah Coal Services - Australia
- Indian Oil Corporation Limited
- Economic Council, Georgia
- Central Electricity Authority - India
- GVK Power & Infra Limited - India
- CIMB Investment Bank - Malaysia
- Indonesian Coal Mining Association
- PTC India Limited - India
- Gujarat Sidhee Cement - India
- ASAPP Information Group - India
- OPG Power Generation Pvt Ltd - India
- Indian Energy Exchange, India
- Bukit Baiduri Energy - Indonesia
- Kumho Petrochemical, South Korea
- New Zealand Coal & Carbon
- Uttam Galva Steels Limited - India
- IEA Clean Coal Centre - UK
- Jindal Steel & Power Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- The University of Queensland
- Star Paper Mills Limited - India
- Petron Corporation, Philippines
- Georgia Ports Authority, United States
- Coal and Oil Company - UAE
- White Energy Company Limited
- Thai Mozambique Logistica
- Orica Australia Pty. Ltd.
- IHS Mccloskey Coal Group - USA
- Orica Mining Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- ICICI Bank Limited - India
- Sakthi Sugars Limited - India
- Kaltim Prima Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Altura Mining Limited, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Parliament of New Zealand
- Africa Commodities Group - South Africa
- Energy Link Ltd, New Zealand
- Australian Coal Association
- Goldman Sachs - Singapore
- Marubeni Corporation - India
- Bharathi Cement Corporation - India
- Global Coal Blending Company Limited - Australia
- Mintek Dendrill Indonesia
- Carbofer General Trading SA - India
- Tamil Nadu electricity Board
- Borneo Indobara - Indonesia
- Dalmia Cement Bharat India
- Medco Energi Mining Internasional
- Ministry of Finance - Indonesia
- Ministry of Transport, Egypt
- Coastal Gujarat Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Essar Steel Hazira Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- MS Steel International - UAE
- Iligan Light & Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Neyveli Lignite Corporation Ltd, - India
- Indika Energy - Indonesia
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