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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, 16 October 15
MAJOR REVISION OF NYPE TIME CHAPTER PARTY - BIMCO
Major revision of NYPE time charter party promises to be both balanced and comprehensive
BIMCO has today jointly issued the first revision of ...
Friday, 16 October 15
FOB INDONESIA COAL SWAP FOR Q4'15 DELIVERY FLAT WEEK OVER WEEK; DOWN 5.5 PER CENT M-M
COALspot.com: Indonesian coal swap for delivery Q4 2015 declined month on month and flat week over week.
The Q4 swap declined $ 2.23 (-5.51%) ...
Friday, 16 October 15
COAL PRODUCTION IN THE UNITED STATES DECREASED THIS WEEK; DOWN 11.3 PER CENT Y-Y, DOWN 3.5 PERCENT W-W
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 17.1 million shor ...
Friday, 16 October 15
INDONESIA REJOINING OPEC DESPITE BEING A NET IMPORTER OF PETROLEUM - EIA
The Organization of the Petroleum Exporting Countries (OPEC) notified Indonesia that it plans to accept the country's request to reactivate its ...
Thursday, 15 October 15
INDONESIA COAL PRICE REFERENCE FALLS FOR SEVEN STRAIGHT MONTH IN OCTOBER
COALspot.com - The Director General of Mineral and Coal of Indonesia once a again revised down Indonesian coal benchmark price this month.
The ...
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- Heidelberg Cement - Germany
- European Bulk Services B.V. - Netherlands
- Global Green Power PLC Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Bulk Trading Sa - Switzerland
- Kepco SPC Power Corporation, Philippines
- Siam City Cement - Thailand
- Goldman Sachs - Singapore
- Chettinad Cement Corporation Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- Orica Australia Pty. Ltd.
- Economic Council, Georgia
- Kumho Petrochemical, South Korea
- Power Finance Corporation Ltd., India
- Aditya Birla Group - India
- Alfred C Toepfer International GmbH - Germany
- Baramulti Group, Indonesia
- Commonwealth Bank - Australia
- Barasentosa Lestari - Indonesia
- Central Java Power - Indonesia
- Indian Oil Corporation Limited
- India Bulls Power Limited - India
- The State Trading Corporation of India Ltd
- Planning Commission, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Latin American Coal - Colombia
- Mintek Dendrill Indonesia
- Mjunction Services Limited - India
- Bangladesh Power Developement Board
- Semirara Mining Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Singapore Mercantile Exchange
- Kaltim Prima Coal - Indonesia
- Marubeni Corporation - India
- Tamil Nadu electricity Board
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- Sakthi Sugars Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Ministry of Transport, Egypt
- The University of Queensland
- Parry Sugars Refinery, India
- Vizag Seaport Private Limited - India
- Borneo Indobara - Indonesia
- Interocean Group of Companies - India
- Aboitiz Power Corporation - Philippines
- Petron Corporation, Philippines
- Essar Steel Hazira Ltd - India
- IEA Clean Coal Centre - UK
- Simpson Spence & Young - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Dalmia Cement Bharat India
- Parliament of New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Sidhee Cement - India
- GMR Energy Limited - India
- Posco Energy - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thiess Contractors Indonesia
- Global Business Power Corporation, Philippines
- Chamber of Mines of South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Bhatia International Limited - India
- Siam City Cement PLC, Thailand
- GVK Power & Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Kobexindo Tractors - Indoneisa
- Wood Mackenzie - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Coastal Gujarat Power Limited - India
- Edison Trading Spa - Italy
- Directorate General of MIneral and Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- South Luzon Thermal Energy Corporation
- Formosa Plastics Group - Taiwan
- Electricity Authority, New Zealand
- Videocon Industries ltd - India
- Samtan Co., Ltd - South Korea
- Mercator Lines Limited - India
- Kapuas Tunggal Persada - Indonesia
- Central Electricity Authority - India
- Sarangani Energy Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Medco Energi Mining Internasional
- Banpu Public Company Limited - Thailand
- Eastern Coal Council - USA
- Indian Energy Exchange, India
- Leighton Contractors Pty Ltd - Australia
- Agrawal Coal Company - India
- Coalindo Energy - Indonesia
- Sical Logistics Limited - India
- Deloitte Consulting - India
- Sree Jayajothi Cements Limited - India
- Ambuja Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- VISA Power Limited - India
- Kideco Jaya Agung - Indonesia
- Bhushan Steel Limited - India
- Merrill Lynch Commodities Europe
- Thai Mozambique Logistica
- New Zealand Coal & Carbon
- CIMB Investment Bank - Malaysia
- Cigading International Bulk Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Vedanta Resources Plc - India
- Sindya Power Generating Company Private Ltd
- Indika Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Ministry of Mines - Canada
- Altura Mining Limited, Indonesia
- San Jose City I Power Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Cement Manufacturers Association - India
- Attock Cement Pakistan Limited
- Grasim Industreis Ltd - India
- Intertek Mineral Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Larsen & Toubro Limited - India
- Georgia Ports Authority, United States
- Star Paper Mills Limited - India
- CNBM International Corporation - China
- Electricity Generating Authority of Thailand
- Xindia Steels Limited - India
- Tata Chemicals Ltd - India
- Jindal Steel & Power Ltd - India
- McConnell Dowell - Australia
- Ind-Barath Power Infra Limited - India
- Malabar Cements Ltd - India
- Independent Power Producers Association of India
- Minerals Council of Australia
- Global Coal Blending Company Limited - Australia
- GAC Shipping (India) Pvt Ltd
- Sojitz Corporation - Japan
- Neyveli Lignite Corporation Ltd, - India
- Asmin Koalindo Tuhup - Indonesia
- Savvy Resources Ltd - HongKong
- Kartika Selabumi Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- Karbindo Abesyapradhi - Indoneisa
- Meenaskhi Energy Private Limited - India
- White Energy Company Limited
- SN Aboitiz Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Lanco Infratech Ltd - India
- Ministry of Finance - Indonesia
- Standard Chartered Bank - UAE
- Jorong Barutama Greston.PT - Indonesia
- Uttam Galva Steels Limited - India
- Energy Development Corp, Philippines
- London Commodity Brokers - England
- Bukit Baiduri Energy - Indonesia
- Mercuria Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Anglo American - United Kingdom
- Orica Mining Services - Indonesia
- Bukit Makmur.PT - Indonesia
- Oldendorff Carriers - Singapore
- ICICI Bank Limited - India
- Romanian Commodities Exchange
- Energy Link Ltd, New Zealand
- Therma Luzon, Inc, Philippines
- Binh Thuan Hamico - Vietnam
- MS Steel International - UAE
- Metalloyd Limited - United Kingdom
- Meralco Power Generation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- PTC India Limited - India
- Australian Commodity Traders Exchange
- Straits Asia Resources Limited - Singapore
- Indogreen Group - Indonesia
- Iligan Light & Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Carbofer General Trading SA - India
- Renaissance Capital - South Africa
- AsiaOL BioFuels Corp., Philippines
- Toyota Tsusho Corporation, Japan
- SMG Consultants - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- ASAPP Information Group - India
- Antam Resourcindo - Indonesia
- Jaiprakash Power Ventures ltd
- Bhoruka Overseas - Indonesia
- Coal and Oil Company - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Price Waterhouse Coopers - Russia
- Wilmar Investment Holdings
- Africa Commodities Group - South Africa
- Madhucon Powers Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- PNOC Exploration Corporation - Philippines
- Eastern Energy - Thailand
- Semirara Mining and Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Indo Tambangraya Megah - Indonesia
- Bharathi Cement Corporation - India
- SMC Global Power, Philippines
- The Treasury - Australian Government
- Australian Coal Association
- Indonesian Coal Mining Association
- PowerSource Philippines DevCo
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