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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, 22 November 15
INDIA COULD PROVIDE SILVER LINING FOR SHIPPING INDUSTRY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The rise of India as a global player in the shipping market could be just a couple of years away, as the country has the potential to become a seco ...
Friday, 20 November 15
U.S. COAL PRODUCTION FOR THE WEEK ENDING NOVEMBER '14; NO CHANGE FROM LAST WEEK
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 16.5 million shor ...
Friday, 20 November 15
NO IMPROVEMENT SEEN IN NEAR-TERM COAL DEMAND; SWAPS CLOSE LOWER
COALspot.com: Indonesian coal swap for delivery Q1 2016 declined month on month and flat on week over week. Price of coal seen no improvements this ...
Friday, 20 November 15
CHANGING CRUDE SUPPLY TRENDS MAY HELP EUROPEAN REFINERS - FITCH RATINGS
COALspot.com: Changes in global oil supply trends, including high Russian production, the expected renewal of Iranian heavy crude exports and the p ...
Thursday, 19 November 15
CHINA STEEL PRODUCTION CAPACITY TO PEAK IN 2016 - FITCH RATINGS
COALspot.com: Fitch Ratings today says that China's steel production capacity is likely to peak in 2016, with capacity elimination over the nex ...
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- GVK Power & Infra Limited - India
- Electricity Authority, New Zealand
- Commonwealth Bank - Australia
- Chamber of Mines of South Africa
- Karbindo Abesyapradhi - Indoneisa
- Orica Australia Pty. Ltd.
- Dalmia Cement Bharat India
- The State Trading Corporation of India Ltd
- Semirara Mining Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Romanian Commodities Exchange
- Siam City Cement PLC, Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Independent Power Producers Association of India
- Goldman Sachs - Singapore
- Simpson Spence & Young - Indonesia
- Globalindo Alam Lestari - Indonesia
- ASAPP Information Group - India
- Orica Mining Services - Indonesia
- GMR Energy Limited - India
- Interocean Group of Companies - India
- San Jose City I Power Corp, Philippines
- IEA Clean Coal Centre - UK
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Edison Trading Spa - Italy
- Australian Commodity Traders Exchange
- Minerals Council of Australia
- Mjunction Services Limited - India
- Straits Asia Resources Limited - Singapore
- Kapuas Tunggal Persada - Indonesia
- Planning Commission, India
- Kartika Selabumi Mining - Indonesia
- Star Paper Mills Limited - India
- Essar Steel Hazira Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Larsen & Toubro Limited - India
- Uttam Galva Steels Limited - India
- The University of Queensland
- Ambuja Cements Ltd - India
- Baramulti Group, Indonesia
- Bangladesh Power Developement Board
- Aditya Birla Group - India
- Miang Besar Coal Terminal - Indonesia
- Medco Energi Mining Internasional
- Offshore Bulk Terminal Pte Ltd, Singapore
- Heidelberg Cement - Germany
- Energy Link Ltd, New Zealand
- Tamil Nadu electricity Board
- Sical Logistics Limited - India
- Carbofer General Trading SA - India
- Borneo Indobara - Indonesia
- Sakthi Sugars Limited - India
- Cement Manufacturers Association - India
- Bhoruka Overseas - Indonesia
- London Commodity Brokers - England
- Karaikal Port Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Thai Mozambique Logistica
- Intertek Mineral Services - Indonesia
- Barasentosa Lestari - Indonesia
- Indian Oil Corporation Limited
- PetroVietnam Power Coal Import and Supply Company
- Agrawal Coal Company - India
- Altura Mining Limited, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bhatia International Limited - India
- Sindya Power Generating Company Private Ltd
- Energy Development Corp, Philippines
- Anglo American - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- McConnell Dowell - Australia
- Trasteel International SA, Italy
- Sree Jayajothi Cements Limited - India
- Bukit Baiduri Energy - Indonesia
- VISA Power Limited - India
- Indika Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Global Business Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Xindia Steels Limited - India
- Siam City Cement - Thailand
- Parliament of New Zealand
- Petron Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Krishnapatnam Port Company Ltd. - India
- Riau Bara Harum - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Coal Council - USA
- Bhushan Steel Limited - India
- PowerSource Philippines DevCo
- Petrochimia International Co. Ltd.- Taiwan
- Bayan Resources Tbk. - Indonesia
- Mercuria Energy - Indonesia
- Renaissance Capital - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Indian Energy Exchange, India
- Deloitte Consulting - India
- Indogreen Group - Indonesia
- Gujarat Sidhee Cement - India
- Attock Cement Pakistan Limited
- South Luzon Thermal Energy Corporation
- AsiaOL BioFuels Corp., Philippines
- Economic Council, Georgia
- MS Steel International - UAE
- Malabar Cements Ltd - India
- Eastern Energy - Thailand
- Ministry of Finance - Indonesia
- Global Green Power PLC Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- White Energy Company Limited
- Timah Investasi Mineral - Indoneisa
- Bukit Makmur.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Tata Chemicals Ltd - India
- Vedanta Resources Plc - India
- Wilmar Investment Holdings
- LBH Netherlands Bv - Netherlands
- PNOC Exploration Corporation - Philippines
- SMC Global Power, Philippines
- Jindal Steel & Power Ltd - India
- Georgia Ports Authority, United States
- Sojitz Corporation - Japan
- Standard Chartered Bank - UAE
- Parry Sugars Refinery, India
- Mintek Dendrill Indonesia
- Therma Luzon, Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Coalindo Energy - Indonesia
- Antam Resourcindo - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Central Electricity Authority - India
- Metalloyd Limited - United Kingdom
- Grasim Industreis Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cigading International Bulk Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Australian Coal Association
- ICICI Bank Limited - India
- Meenaskhi Energy Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Electricity Generating Authority of Thailand
- Jorong Barutama Greston.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- India Bulls Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Marubeni Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Merrill Lynch Commodities Europe
- Kalimantan Lumbung Energi - Indonesia
- Thiess Contractors Indonesia
- Banpu Public Company Limited - Thailand
- Posco Energy - South Korea
- Maheswari Brothers Coal Limited - India
- Central Java Power - Indonesia
- The Treasury - Australian Government
- Kumho Petrochemical, South Korea
- CNBM International Corporation - China
- Oldendorff Carriers - Singapore
- Singapore Mercantile Exchange
- Kohat Cement Company Ltd. - Pakistan
- Chettinad Cement Corporation Ltd - India
- Rio Tinto Coal - Australia
- SN Aboitiz Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Savvy Resources Ltd - HongKong
- Salva Resources Pvt Ltd - India
- SMG Consultants - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Bharathi Cement Corporation - India
- Lanco Infratech Ltd - India
- Ministry of Mines - Canada
- Toyota Tsusho Corporation, Japan
- Africa Commodities Group - South Africa
- Ceylon Electricity Board - Sri Lanka
- Jaiprakash Power Ventures ltd
- TeaM Sual Corporation - Philippines
- Ministry of Transport, Egypt
- Pendopo Energi Batubara - Indonesia
- Mercator Lines Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meralco Power Generation, Philippines
- Price Waterhouse Coopers - Russia
- Alfred C Toepfer International GmbH - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Kaltim Prima Coal - Indonesia
- New Zealand Coal & Carbon
- Power Finance Corporation Ltd., India
- Gujarat Mineral Development Corp Ltd - India
- Bulk Trading Sa - Switzerland
- Vizag Seaport Private Limited - India
- Coastal Gujarat Power Limited - India
- Wood Mackenzie - Singapore
- Indo Tambangraya Megah - Indonesia
- CIMB Investment Bank - Malaysia
- IHS Mccloskey Coal Group - USA
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- European Bulk Services B.V. - Netherlands
- Indonesian Coal Mining Association
- Latin American Coal - Colombia
- Binh Thuan Hamico - Vietnam
- PTC India Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Formosa Plastics Group - Taiwan
- GAC Shipping (India) Pvt Ltd
- Kepco SPC Power Corporation, Philippines
- Videocon Industries ltd - India
- Holcim Trading Pte Ltd - Singapore
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