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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, 25 October 15
ANOTHER DISAPPOINTING WEEK FOR PANAMAX; INDEX FELL 5.4 PERCENT W-W
COALspot.com: The BDI was slightly up by 2.65 pct closing at 774 points mainly because of Cape index which was up by 10.85 pct closing at 1461 poin ...
Sunday, 25 October 15
DRY BULK SHIP OWNERS ARE LOOKING TO CHINA'S POLICIES FOR CUES ON FUTURE MARKET DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
China’s hard or softer landing is a thing which has troubled dry bulk shipping for a couple of years now, as owners have been hit by the coun ...
Friday, 23 October 15
WILL INDIAN DOMESTIC COAL PRICES BE ABLE TO COMPETE IMPORTED COAL PRICES IF THE CURRENT TREND CONTINUES?
COALspot.com: The Most of the Indian end-users are waiting for last minute purchase to enjoy every drop in price. Coal procurement managers are als ...
Friday, 23 October 15
COAL PRODUCTION IN THE U.S. FOR THE WEEK ENDING OCTOBER 17 DECLINED FOR THE SECOND STRAIGHT WEEK
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 16.6 million shor ...
Wednesday, 21 October 15
RUSSIA'S CARBO ONE COAL SALES TO HIT 50 MLN T/YR - JACQUELINE HOLMES
COALspot.com: Russia's Carbo One has become one of the world's leading physical coal traders with an annual volume approaching 50 million t ...
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- Electricity Generating Authority of Thailand
- Binh Thuan Hamico - Vietnam
- Dalmia Cement Bharat India
- Star Paper Mills Limited - India
- Sarangani Energy Corporation, Philippines
- Mintek Dendrill Indonesia
- MS Steel International - UAE
- San Jose City I Power Corp, Philippines
- CIMB Investment Bank - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Mines - Canada
- Simpson Spence & Young - Indonesia
- Marubeni Corporation - India
- Vizag Seaport Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Meralco Power Generation, Philippines
- Independent Power Producers Association of India
- Riau Bara Harum - Indonesia
- Chamber of Mines of South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Kobexindo Tractors - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Videocon Industries ltd - India
- Semirara Mining Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Parry Sugars Refinery, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karbindo Abesyapradhi - Indoneisa
- Wood Mackenzie - Singapore
- International Coal Ventures Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Baramulti Group, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Coalindo Energy - Indonesia
- GVK Power & Infra Limited - India
- Heidelberg Cement - Germany
- Barasentosa Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Petron Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Energy - Thailand
- SMG Consultants - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Renaissance Capital - South Africa
- SMC Global Power, Philippines
- Miang Besar Coal Terminal - Indonesia
- ASAPP Information Group - India
- Asmin Koalindo Tuhup - Indonesia
- Altura Mining Limited, Indonesia
- Ambuja Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Bukit Baiduri Energy - Indonesia
- New Zealand Coal & Carbon
- Carbofer General Trading SA - India
- Bhushan Steel Limited - India
- McConnell Dowell - Australia
- Indika Energy - Indonesia
- The State Trading Corporation of India Ltd
- Indian Energy Exchange, India
- GMR Energy Limited - India
- Meenaskhi Energy Private Limited - India
- Jindal Steel & Power Ltd - India
- Mjunction Services Limited - India
- Global Business Power Corporation, Philippines
- Bhatia International Limited - India
- Mercator Lines Limited - India
- Global Green Power PLC Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Orica Australia Pty. Ltd.
- PNOC Exploration Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Chettinad Cement Corporation Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Aboitiz Power Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Larsen & Toubro Limited - India
- Toyota Tsusho Corporation, Japan
- Bangladesh Power Developement Board
- Bahari Cakrawala Sebuku - Indonesia
- Sical Logistics Limited - India
- Australian Commodity Traders Exchange
- Grasim Industreis Ltd - India
- Globalindo Alam Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Georgia Ports Authority, United States
- Malabar Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Lanco Infratech Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Makarim & Taira - Indonesia
- Indonesian Coal Mining Association
- The University of Queensland
- South Luzon Thermal Energy Corporation
- Antam Resourcindo - Indonesia
- Siam City Cement PLC, Thailand
- Energy Development Corp, Philippines
- Borneo Indobara - Indonesia
- Therma Luzon, Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Alfred C Toepfer International GmbH - Germany
- Oldendorff Carriers - Singapore
- Billiton Holdings Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Salva Resources Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Coal and Oil Company - UAE
- Samtan Co., Ltd - South Korea
- Mercuria Energy - Indonesia
- Minerals Council of Australia
- Eastern Coal Council - USA
- SN Aboitiz Power Inc, Philippines
- White Energy Company Limited
- Uttam Galva Steels Limited - India
- London Commodity Brokers - England
- IHS Mccloskey Coal Group - USA
- Edison Trading Spa - Italy
- Latin American Coal - Colombia
- Maheswari Brothers Coal Limited - India
- Kumho Petrochemical, South Korea
- Merrill Lynch Commodities Europe
- TeaM Sual Corporation - Philippines
- Romanian Commodities Exchange
- Kepco SPC Power Corporation, Philippines
- Posco Energy - South Korea
- Manunggal Multi Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- Parliament of New Zealand
- Coastal Gujarat Power Limited - India
- Madhucon Powers Ltd - India
- Ministry of Transport, Egypt
- Tamil Nadu electricity Board
- Anglo American - United Kingdom
- Energy Link Ltd, New Zealand
- Trasteel International SA, Italy
- Gujarat Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Metalloyd Limited - United Kingdom
- Australian Coal Association
- Formosa Plastics Group - Taiwan
- Banpu Public Company Limited - Thailand
- Economic Council, Georgia
- Sakthi Sugars Limited - India
- Goldman Sachs - Singapore
- Rio Tinto Coal - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- VISA Power Limited - India
- Tata Chemicals Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Kartika Selabumi Mining - Indonesia
- Singapore Mercantile Exchange
- The Treasury - Australian Government
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Oil Corporation Limited
- India Bulls Power Limited - India
- Standard Chartered Bank - UAE
- Thiess Contractors Indonesia
- Interocean Group of Companies - India
- Global Coal Blending Company Limited - Australia
- Ceylon Electricity Board - Sri Lanka
- Rashtriya Ispat Nigam Limited - India
- Central Java Power - Indonesia
- ICICI Bank Limited - India
- Commonwealth Bank - Australia
- Bulk Trading Sa - Switzerland
- Agrawal Coal Company - India
- Attock Cement Pakistan Limited
- Timah Investasi Mineral - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Authority, New Zealand
- Bhoruka Overseas - Indonesia
- Wilmar Investment Holdings
- Gujarat Mineral Development Corp Ltd - India
- PTC India Limited - India
- Bukit Makmur.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- Intertek Mineral Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sojitz Corporation - Japan
- Deloitte Consulting - India
- Bharathi Cement Corporation - India
- Straits Asia Resources Limited - Singapore
- Orica Mining Services - Indonesia
- Indogreen Group - Indonesia
- CNBM International Corporation - China
- Power Finance Corporation Ltd., India
- TNB Fuel Sdn Bhd - Malaysia
- Kaltim Prima Coal - Indonesia
- Siam City Cement - Thailand
- Vedanta Resources Plc - India
- Indo Tambangraya Megah - Indonesia
- Thai Mozambique Logistica
- Maharashtra Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Xindia Steels Limited - India
- Cement Manufacturers Association - India
- Ministry of Finance - Indonesia
- Africa Commodities Group - South Africa
- Pendopo Energi Batubara - Indonesia
- Central Electricity Authority - India
- Kalimantan Lumbung Energi - Indonesia
- Price Waterhouse Coopers - Russia
- PowerSource Philippines DevCo
- Aditya Birla Group - India
- Directorate Of Revenue Intelligence - India
- IEA Clean Coal Centre - UK
- Port Waratah Coal Services - Australia
- Planning Commission, India
- Jorong Barutama Greston.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Medco Energi Mining Internasional
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