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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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Wednesday, 28 October 15
Q2'16 FOB RICHARDS BAY COAL SWAP SEES FURTHER DECLINES
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q4' 2015 gained week over week and declined month over month.
The Q4 swap was d ...
Wednesday, 28 October 15
BDI INCREASE TOOK PLACE SOLELY ON THE BACK OF CAPESIZE PERFORMANCE, BUT........ - INTERMODAL
COALspot.com: The Dry Bulk market closed off the week noting a small improvement which nonetheless failed to lift sentiment, not only because ...
Tuesday, 27 October 15
Q1'16 API 5 FOB NEWCASTLE COAL SWAP DECLINE 6 PER CENT M-M
COALspot.com: API 5 FOB Newcastle Coal swap for Q4’ 2015 delivery decreased $2 per ton (4.66%) month over month to US$ 40.93 per ton. The swa ...
Monday, 26 October 15
PORT OF NEWCASTLE SHIPPED 10.5 PER CENT LESS COAL IN SEPTEMBER, COMPARED TO AUGUST LOADING
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port, has shipped $1.161 billi ...
Monday, 26 October 15
CFR SOUTH CHINA COAL SWAPS CLOSE DOWN 4.3% AS DEMAND CONCERNS WEIGH
COALspot.com: API 8 CFR South China Coal swap for 4Q’ 2015 delivery down just US$ 1.48 (3.02 %) per ton month over month.
A commodity sw ...
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- Mjunction Services Limited - India
- Planning Commission, India
- Coal and Oil Company - UAE
- London Commodity Brokers - England
- Thiess Contractors Indonesia
- GVK Power & Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Bangladesh Power Developement Board
- Lanco Infratech Ltd - India
- Port Waratah Coal Services - Australia
- PNOC Exploration Corporation - Philippines
- Electricity Generating Authority of Thailand
- Malabar Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Toyota Tsusho Corporation, Japan
- Semirara Mining and Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Global Business Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Price Waterhouse Coopers - Russia
- MS Steel International - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Petron Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Grasim Industreis Ltd - India
- Madhucon Powers Ltd - India
- Heidelberg Cement - Germany
- Therma Luzon, Inc, Philippines
- Bharathi Cement Corporation - India
- Kumho Petrochemical, South Korea
- Energy Development Corp, Philippines
- Eastern Coal Council - USA
- ASAPP Information Group - India
- Gujarat Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maharashtra Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- SMC Global Power, Philippines
- Standard Chartered Bank - UAE
- Bhatia International Limited - India
- PetroVietnam Power Coal Import and Supply Company
- IEA Clean Coal Centre - UK
- Central Java Power - Indonesia
- SMG Consultants - Indonesia
- Sakthi Sugars Limited - India
- Miang Besar Coal Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Neyveli Lignite Corporation Ltd, - India
- Banpu Public Company Limited - Thailand
- San Jose City I Power Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Indonesian Coal Mining Association
- Anglo American - United Kingdom
- India Bulls Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Ambuja Cements Ltd - India
- Independent Power Producers Association of India
- Siam City Cement - Thailand
- Medco Energi Mining Internasional
- Manunggal Multi Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Oldendorff Carriers - Singapore
- Altura Mining Limited, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Karaikal Port Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- PTC India Limited - India
- Energy Link Ltd, New Zealand
- IHS Mccloskey Coal Group - USA
- Ministry of Finance - Indonesia
- Sarangani Energy Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Intertek Mineral Services - Indonesia
- Merrill Lynch Commodities Europe
- Economic Council, Georgia
- Thai Mozambique Logistica
- Commonwealth Bank - Australia
- Gujarat Sidhee Cement - India
- Maheswari Brothers Coal Limited - India
- European Bulk Services B.V. - Netherlands
- Marubeni Corporation - India
- Rio Tinto Coal - Australia
- Agrawal Coal Company - India
- LBH Netherlands Bv - Netherlands
- Posco Energy - South Korea
- SN Aboitiz Power Inc, Philippines
- Renaissance Capital - South Africa
- GMR Energy Limited - India
- Deloitte Consulting - India
- Videocon Industries ltd - India
- Formosa Plastics Group - Taiwan
- Australian Coal Association
- Indian Oil Corporation Limited
- Semirara Mining Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Ministry of Mines - Canada
- Jorong Barutama Greston.PT - Indonesia
- Makarim & Taira - Indonesia
- Bhoruka Overseas - Indonesia
- Indian Energy Exchange, India
- Bukit Asam (Persero) Tbk - Indonesia
- Vedanta Resources Plc - India
- Orica Mining Services - Indonesia
- Straits Asia Resources Limited - Singapore
- The State Trading Corporation of India Ltd
- Indika Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Mercator Lines Limited - India
- Coalindo Energy - Indonesia
- Borneo Indobara - Indonesia
- Interocean Group of Companies - India
- Sical Logistics Limited - India
- South Luzon Thermal Energy Corporation
- Trasteel International SA, Italy
- Parliament of New Zealand
- New Zealand Coal & Carbon
- GN Power Mariveles Coal Plant, Philippines
- Chamber of Mines of South Africa
- CIMB Investment Bank - Malaysia
- Mercuria Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Xindia Steels Limited - India
- Star Paper Mills Limited - India
- Rashtriya Ispat Nigam Limited - India
- Eastern Energy - Thailand
- Kapuas Tunggal Persada - Indonesia
- White Energy Company Limited
- Edison Trading Spa - Italy
- Indogreen Group - Indonesia
- Timah Investasi Mineral - Indoneisa
- Australian Commodity Traders Exchange
- Africa Commodities Group - South Africa
- Parry Sugars Refinery, India
- Directorate General of MIneral and Coal - Indonesia
- CNBM International Corporation - China
- Uttam Galva Steels Limited - India
- Carbofer General Trading SA - India
- ICICI Bank Limited - India
- Essar Steel Hazira Ltd - India
- Ind-Barath Power Infra Limited - India
- The University of Queensland
- Aboitiz Power Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Central Electricity Authority - India
- Ministry of Transport, Egypt
- PowerSource Philippines DevCo
- Tata Chemicals Ltd - India
- Larsen & Toubro Limited - India
- Attock Cement Pakistan Limited
- Wood Mackenzie - Singapore
- Pendopo Energi Batubara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Sinarmas Energy and Mining - Indonesia
- Kartika Selabumi Mining - Indonesia
- Goldman Sachs - Singapore
- Sojitz Corporation - Japan
- Riau Bara Harum - Indonesia
- Simpson Spence & Young - Indonesia
- Bukit Baiduri Energy - Indonesia
- Siam City Cement PLC, Thailand
- Metalloyd Limited - United Kingdom
- Latin American Coal - Colombia
- Coastal Gujarat Power Limited - India
- Tamil Nadu electricity Board
- Wilmar Investment Holdings
- TeaM Sual Corporation - Philippines
- Cement Manufacturers Association - India
- Kobexindo Tractors - Indoneisa
- Bhushan Steel Limited - India
- McConnell Dowell - Australia
- VISA Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Electricity Authority, New Zealand
- Minerals Council of Australia
- Kaltim Prima Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate Of Revenue Intelligence - India
- AsiaOL BioFuels Corp., Philippines
- Orica Australia Pty. Ltd.
- Aditya Birla Group - India
- Romanian Commodities Exchange
- Vizag Seaport Private Limited - India
- The Treasury - Australian Government
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kepco SPC Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Mintek Dendrill Indonesia
- Samtan Co., Ltd - South Korea
- Holcim Trading Pte Ltd - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Kohat Cement Company Ltd. - Pakistan
- Pipit Mutiara Jaya. PT, Indonesia
- Kideco Jaya Agung - Indonesia
- Global Coal Blending Company Limited - Australia
- Baramulti Group, Indonesia
- Dalmia Cement Bharat India
- GAC Shipping (India) Pvt Ltd
- Karbindo Abesyapradhi - Indoneisa
- Bukit Makmur.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Singapore Mercantile Exchange
- Sindya Power Generating Company Private Ltd
- Jindal Steel & Power Ltd - India
- Asmin Koalindo Tuhup - Indonesia
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