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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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Tuesday, 03 November 15
EU OIL MAJORS FACE FURTHER EARNINGS DECLINE IN Q415 - FITCH RATINGS
The sharp drop in major European oil companies' third-quarter profits is likely to be extended in the fourth quarter as refining margins, which ...
Monday, 02 November 15
DESPITE CHALLENGING MARKET CONDITIONS, ADARO LOWERS COSTS, DEBT AND DELIVERS STRONG FREE CASH FLOW
COALspot.com: Despite challenging market conditions, Adaro lowers costs, lowers debt and delivers strong free cash flow.
The Indonesia’s ...
Monday, 02 November 15
CFR SOUTH CHINA COAL SWAPS CLOSED ON A WEAK NOTE
COALspot.com: API 8 CFR South China Coal swap for 4Q’ 2015 delivery declined US$ 1.81(3.71 %) per ton month over month.
A commodity swap ...
Sunday, 01 November 15
THE FREIGHT MARKET SENTIMENT REMAINS WEAK
This week’s freight market sentiment remains weak compared to last week.
The Baltic Dry Index (BDI), an economic indicator issued daily ...
Saturday, 31 October 15
ADARO ENERGY'S CORE EARNINGS DECLINE 21 PER CENT FOR THE NINE MONTHS PERIOD TO SEPTEMBER 2015
COALspot.com: Adaro Energy's core earnings decline 21% to US$228 Million for first 9months of this year compared to the same period last year. ...
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- Maharashtra Electricity Regulatory Commission - India
- VISA Power Limited - India
- Sindya Power Generating Company Private Ltd
- Minerals Council of Australia
- Gujarat Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- San Jose City I Power Corp, Philippines
- Electricity Authority, New Zealand
- Mercuria Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Indian Oil Corporation Limited
- Thai Mozambique Logistica
- Manunggal Multi Energi - Indonesia
- Planning Commission, India
- Central Electricity Authority - India
- Simpson Spence & Young - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Barasentosa Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Heidelberg Cement - Germany
- Chettinad Cement Corporation Ltd - India
- CIMB Investment Bank - Malaysia
- Central Java Power - Indonesia
- Malabar Cements Ltd - India
- Baramulti Group, Indonesia
- Electricity Generating Authority of Thailand
- Vizag Seaport Private Limited - India
- CNBM International Corporation - China
- Renaissance Capital - South Africa
- Bukit Makmur.PT - Indonesia
- Edison Trading Spa - Italy
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Mineral Development Corp Ltd - India
- Bulk Trading Sa - Switzerland
- Leighton Contractors Pty Ltd - Australia
- Marubeni Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Jindal Steel & Power Ltd - India
- International Coal Ventures Pvt Ltd - India
- Eastern Coal Council - USA
- Meenaskhi Energy Private Limited - India
- European Bulk Services B.V. - Netherlands
- ASAPP Information Group - India
- AsiaOL BioFuels Corp., Philippines
- Therma Luzon, Inc, Philippines
- Mjunction Services Limited - India
- Orica Mining Services - Indonesia
- Indonesian Coal Mining Association
- Energy Link Ltd, New Zealand
- Sinarmas Energy and Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Commonwealth Bank - Australia
- Orica Australia Pty. Ltd.
- GN Power Mariveles Coal Plant, Philippines
- Star Paper Mills Limited - India
- Anglo American - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- McConnell Dowell - Australia
- Parliament of New Zealand
- Coalindo Energy - Indonesia
- Australian Commodity Traders Exchange
- Cigading International Bulk Terminal - Indonesia
- Ministry of Transport, Egypt
- Bhoruka Overseas - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Videocon Industries ltd - India
- Bayan Resources Tbk. - Indonesia
- IEA Clean Coal Centre - UK
- ICICI Bank Limited - India
- Merrill Lynch Commodities Europe
- Karaikal Port Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Petron Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Ministry of Finance - Indonesia
- Africa Commodities Group - South Africa
- Grasim Industreis Ltd - India
- The University of Queensland
- Riau Bara Harum - Indonesia
- Sical Logistics Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Alfred C Toepfer International GmbH - Germany
- White Energy Company Limited
- SMG Consultants - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMC Global Power, Philippines
- Cement Manufacturers Association - India
- Trasteel International SA, Italy
- LBH Netherlands Bv - Netherlands
- Rio Tinto Coal - Australia
- Romanian Commodities Exchange
- Bangladesh Power Developement Board
- Toyota Tsusho Corporation, Japan
- Kalimantan Lumbung Energi - Indonesia
- Tata Chemicals Ltd - India
- Metalloyd Limited - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Sakthi Sugars Limited - India
- Antam Resourcindo - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Lanco Infratech Ltd - India
- Coastal Gujarat Power Limited - India
- Jaiprakash Power Ventures ltd
- Dalmia Cement Bharat India
- GMR Energy Limited - India
- Miang Besar Coal Terminal - Indonesia
- Meralco Power Generation, Philippines
- Bharathi Cement Corporation - India
- Vedanta Resources Plc - India
- Bahari Cakrawala Sebuku - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kartika Selabumi Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Business Power Corporation, Philippines
- Bhatia International Limited - India
- Formosa Plastics Group - Taiwan
- Kumho Petrochemical, South Korea
- Coal and Oil Company - UAE
- London Commodity Brokers - England
- Pendopo Energi Batubara - Indonesia
- Madhucon Powers Ltd - India
- Makarim & Taira - Indonesia
- Economic Council, Georgia
- Siam City Cement - Thailand
- Globalindo Alam Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Sojitz Corporation - Japan
- Bukit Baiduri Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Mines - Canada
- Global Green Power PLC Corporation, Philippines
- Salva Resources Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Latin American Coal - Colombia
- Kepco SPC Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- GVK Power & Infra Limited - India
- Price Waterhouse Coopers - Russia
- Mercator Lines Limited - India
- Samtan Co., Ltd - South Korea
- Australian Coal Association
- Mintek Dendrill Indonesia
- IHS Mccloskey Coal Group - USA
- Thiess Contractors Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- PTC India Limited - India
- Gujarat Sidhee Cement - India
- GAC Shipping (India) Pvt Ltd
- India Bulls Power Limited - India
- The Treasury - Australian Government
- Semirara Mining and Power Corporation, Philippines
- Tamil Nadu electricity Board
- Billiton Holdings Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Wood Mackenzie - Singapore
- Medco Energi Mining Internasional
- Savvy Resources Ltd - HongKong
- Uttam Galva Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Georgia Ports Authority, United States
- Banpu Public Company Limited - Thailand
- Ind-Barath Power Infra Limited - India
- Eastern Energy - Thailand
- PowerSource Philippines DevCo
- PNOC Exploration Corporation - Philippines
- Independent Power Producers Association of India
- Indika Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Interocean Group of Companies - India
- Power Finance Corporation Ltd., India
- Indian Energy Exchange, India
- Xindia Steels Limited - India
- Standard Chartered Bank - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Deloitte Consulting - India
- Singapore Mercantile Exchange
- Energy Development Corp, Philippines
- Siam City Cement PLC, Thailand
- Kideco Jaya Agung - Indonesia
- Bhushan Steel Limited - India
- Kapuas Tunggal Persada - Indonesia
- Wilmar Investment Holdings
- Jorong Barutama Greston.PT - Indonesia
- Posco Energy - South Korea
- Parry Sugars Refinery, India
- Goldman Sachs - Singapore
- Borneo Indobara - Indonesia
- Chamber of Mines of South Africa
- Maheswari Brothers Coal Limited - India
- Straits Asia Resources Limited - Singapore
- Indo Tambangraya Megah - Indonesia
- Ambuja Cements Ltd - India
- Aditya Birla Group - India
- Essar Steel Hazira Ltd - India
- MS Steel International - UAE
- Indogreen Group - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Oldendorff Carriers - Singapore
- Sree Jayajothi Cements Limited - India
- Carbofer General Trading SA - India
- Intertek Mineral Services - Indonesia
- Larsen & Toubro Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Attock Cement Pakistan Limited
- Altura Mining Limited, Indonesia
- New Zealand Coal & Carbon
- Aboitiz Power Corporation - Philippines
- Agrawal Coal Company - India
- Timah Investasi Mineral - Indoneisa
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