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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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Thursday, 15 October 15
Q1' 16 FOB RICHARDS BAY COAL SWAP ADVANCED 2 PER CENT WEEK OVER WEEK
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q4' 2015 gain week over week and declined month over month.
The Q4 swap was dow ...
Tuesday, 13 October 15
DRY BULK SHIPPING FLEET NET EXPANSION WAS 1.3% DURING THIRD QUARTER, BUT ORDERBOOK REDUCED TO 17% OF THE TRADING FLEET
If the dry bulk market is to rebound on a sustainable level, it needs to limit the tonnage expansion, at least until demand picks up again, as Chin ...
Tuesday, 13 October 15
FOB NEWCASTLE COAL SWAP DECLINED 2 PER CENT MONTH OVER MONTH
COALspot.com: API 5 FOB Newcastle Coal swap for Q4’ 2015 delivery decreased $0.46 per ton (1.08%) month over month to US$ 42.17 per ton. The ...
Monday, 12 October 15
CFR SOUTH CHINA COAL SWAPS GAIN W-W; SLIGHTLY DOWN M-M
COALspot.com: API 8 CFR South China Coal swap for 4Q’ 2015 delivery down just US cents 3 (0.06 %) per ton month over month.
A commodity ...
Monday, 12 October 15
DRY BULK SHIPPING: MARKETS ARE SLOWLY IMPROVING FROM A VERY LOW LEVEL AS THE DEMAND SIDE FALTERS - HELLENIC SHIPPING NEWS
The dry bulk market is in the midst of a shift in demand patterns, which coupled with a tonnage supply overhang, has been facing headwinds over the ...
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- Trasteel International SA, Italy
- Bangladesh Power Developement Board
- Thai Mozambique Logistica
- LBH Netherlands Bv - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Standard Chartered Bank - UAE
- Alfred C Toepfer International GmbH - Germany
- PetroVietnam Power Coal Import and Supply Company
- India Bulls Power Limited - India
- Directorate Of Revenue Intelligence - India
- Goldman Sachs - Singapore
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement - Thailand
- Port Waratah Coal Services - Australia
- Jorong Barutama Greston.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- Global Coal Blending Company Limited - Australia
- Cement Manufacturers Association - India
- Kepco SPC Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- White Energy Company Limited
- Karaikal Port Pvt Ltd - India
- GVK Power & Infra Limited - India
- Toyota Tsusho Corporation, Japan
- Therma Luzon, Inc, Philippines
- Wood Mackenzie - Singapore
- Central Java Power - Indonesia
- IEA Clean Coal Centre - UK
- Holcim Trading Pte Ltd - Singapore
- Banpu Public Company Limited - Thailand
- Carbofer General Trading SA - India
- Power Finance Corporation Ltd., India
- Chamber of Mines of South Africa
- Cigading International Bulk Terminal - Indonesia
- Sakthi Sugars Limited - India
- Medco Energi Mining Internasional
- Rashtriya Ispat Nigam Limited - India
- Australian Coal Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Attock Cement Pakistan Limited
- Aboitiz Power Corporation - Philippines
- ASAPP Information Group - India
- Iligan Light & Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Coalindo Energy - Indonesia
- Indika Energy - Indonesia
- Thiess Contractors Indonesia
- Tata Chemicals Ltd - India
- CNBM International Corporation - China
- VISA Power Limited - India
- SMG Consultants - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Dalmia Cement Bharat India
- Binh Thuan Hamico - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Indian Oil Corporation Limited
- Madhucon Powers Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Energy - Thailand
- Minerals Council of Australia
- Larsen & Toubro Limited - India
- GAC Shipping (India) Pvt Ltd
- Timah Investasi Mineral - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- PTC India Limited - India
- Oldendorff Carriers - Singapore
- Coastal Gujarat Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Finance - Indonesia
- Electricity Generating Authority of Thailand
- Planning Commission, India
- Orica Australia Pty. Ltd.
- Makarim & Taira - Indonesia
- Sical Logistics Limited - India
- Independent Power Producers Association of India
- Merrill Lynch Commodities Europe
- Semirara Mining Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- Mintek Dendrill Indonesia
- Aditya Birla Group - India
- Baramulti Group, Indonesia
- Vizag Seaport Private Limited - India
- Kaltim Prima Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Central Electricity Authority - India
- McConnell Dowell - Australia
- Bharathi Cement Corporation - India
- Economic Council, Georgia
- Indogreen Group - Indonesia
- Meralco Power Generation, Philippines
- Simpson Spence & Young - Indonesia
- Renaissance Capital - South Africa
- Sree Jayajothi Cements Limited - India
- Bhatia International Limited - India
- Ambuja Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Commonwealth Bank - Australia
- Sindya Power Generating Company Private Ltd
- Mercator Lines Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- MS Steel International - UAE
- Bukit Makmur.PT - Indonesia
- Price Waterhouse Coopers - Russia
- Kideco Jaya Agung - Indonesia
- Manunggal Multi Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Metalloyd Limited - United Kingdom
- Vedanta Resources Plc - India
- Indonesian Coal Mining Association
- Videocon Industries ltd - India
- Bulk Trading Sa - Switzerland
- Malabar Cements Ltd - India
- Wilmar Investment Holdings
- Jaiprakash Power Ventures ltd
- Intertek Mineral Services - Indonesia
- ICICI Bank Limited - India
- Bhushan Steel Limited - India
- The University of Queensland
- Marubeni Corporation - India
- Electricity Authority, New Zealand
- Energy Development Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Global Green Power PLC Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Heidelberg Cement - Germany
- Parliament of New Zealand
- Salva Resources Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Chettinad Cement Corporation Ltd - India
- OPG Power Generation Pvt Ltd - India
- The Treasury - Australian Government
- Posco Energy - South Korea
- Riau Bara Harum - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Barasentosa Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Maharashtra Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Essar Steel Hazira Ltd - India
- Ministry of Transport, Egypt
- Kumho Petrochemical, South Korea
- Kobexindo Tractors - Indoneisa
- IHS Mccloskey Coal Group - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- New Zealand Coal & Carbon
- Lanco Infratech Ltd - India
- Sojitz Corporation - Japan
- Eastern Coal Council - USA
- TeaM Sual Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Petron Corporation, Philippines
- PowerSource Philippines DevCo
- Directorate General of MIneral and Coal - Indonesia
- Coal and Oil Company - UAE
- Energy Link Ltd, New Zealand
- Miang Besar Coal Terminal - Indonesia
- Gujarat Sidhee Cement - India
- Georgia Ports Authority, United States
- Pendopo Energi Batubara - Indonesia
- Jindal Steel & Power Ltd - India
- Singapore Mercantile Exchange
- GMR Energy Limited - India
- Africa Commodities Group - South Africa
- Ind-Barath Power Infra Limited - India
- San Jose City I Power Corp, Philippines
- CIMB Investment Bank - Malaysia
- Latin American Coal - Colombia
- Ministry of Mines - Canada
- Kohat Cement Company Ltd. - Pakistan
- Antam Resourcindo - Indonesia
- Rio Tinto Coal - Australia
- Kartika Selabumi Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- Deloitte Consulting - India
- Indian Energy Exchange, India
- Grasim Industreis Ltd - India
- Australian Commodity Traders Exchange
- Global Business Power Corporation, Philippines
- Mjunction Services Limited - India
- Star Paper Mills Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Orica Mining Services - Indonesia
- Interocean Group of Companies - India
- Xindia Steels Limited - India
- PNOC Exploration Corporation - Philippines
- South Luzon Thermal Energy Corporation
- SN Aboitiz Power Inc, Philippines
- SMC Global Power, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Romanian Commodities Exchange
- Mercuria Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Anglo American - United Kingdom
- Edison Trading Spa - Italy
- Altura Mining Limited, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bayan Resources Tbk. - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement PLC, Thailand
- Ceylon Electricity Board - Sri Lanka
- Bhoruka Overseas - Indonesia
- Agrawal Coal Company - India
- Borneo Indobara - Indonesia
- Formosa Plastics Group - Taiwan
- Parry Sugars Refinery, India
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