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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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Monday, 12 October 15
BDI WEIGHED DOWN BY CAPE
COALspot.com: The BDI (Baltic Dry Index) has come back down again this week. The BDI is a benchmark index used to assess the overall cost of moving ...
Sunday, 11 October 15
TANKER SHIPPING: MORE OPTIMISM IN SIGHT FOR TANKERS IN THE WINTER SEASON - BIMCO
Demand:
2015 has been the year of the tanker. The fundamental improvements with slow supply-side growth for some years coupled with low oil pri ...
Friday, 09 October 15
US WEEKLY COAL OUTPUT UP 1.2 PERCENT TO 17.7 MMST
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 17.7 million shor ...
Thursday, 08 October 15
CAPESIZE: MOST PEOPLE AGREE A SPIKE IN RATES WILL HAPPEN; WHEN, HOW LONG AND HOW SUBSTANTIAL? - FEARNLEYS
Cape
Depressives start of the fourth quarter, with c3 approaching USD 12 pmt and c5 presently in the mind 5's. According to Fearnleys ship br ...
Wednesday, 07 October 15
U.S. COAL EXPORTS FOR THE FIRST SEVEN MONTHS DOWN 21 PER CENT COMPARED WITH THE SAME PERIOD IN 2014 - EIA
Coal Supply
Lower U.S.’s domestic coal consumption and reduced exports contribute to a forecast decline of 89 million short tons (M ...
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- ICICI Bank Limited - India
- Gujarat Sidhee Cement - India
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- Minerals Council of Australia
- Cement Manufacturers Association - India
- Bhushan Steel Limited - India
- Orica Mining Services - Indonesia
- Ministry of Transport, Egypt
- Indonesian Coal Mining Association
- Petrochimia International Co. Ltd.- Taiwan
- Sindya Power Generating Company Private Ltd
- The University of Queensland
- PetroVietnam Power Coal Import and Supply Company
- MS Steel International - UAE
- Mjunction Services Limited - India
- Edison Trading Spa - Italy
- SMC Global Power, Philippines
- McConnell Dowell - Australia
- Maharashtra Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Georgia Ports Authority, United States
- European Bulk Services B.V. - Netherlands
- Interocean Group of Companies - India
- Parry Sugars Refinery, India
- Goldman Sachs - Singapore
- Bulk Trading Sa - Switzerland
- Central Java Power - Indonesia
- Gujarat Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Simpson Spence & Young - Indonesia
- Africa Commodities Group - South Africa
- Directorate Of Revenue Intelligence - India
- New Zealand Coal & Carbon
- Therma Luzon, Inc, Philippines
- Baramulti Group, Indonesia
- Port Waratah Coal Services - Australia
- OPG Power Generation Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Bhatia International Limited - India
- Australian Coal Association
- Romanian Commodities Exchange
- Kumho Petrochemical, South Korea
- Wood Mackenzie - Singapore
- Commonwealth Bank - Australia
- Bayan Resources Tbk. - Indonesia
- Australian Commodity Traders Exchange
- Manunggal Multi Energi - Indonesia
- London Commodity Brokers - England
- Miang Besar Coal Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- Vedanta Resources Plc - India
- Meralco Power Generation, Philippines
- Standard Chartered Bank - UAE
- Global Business Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Indo Tambangraya Megah - Indonesia
- South Luzon Thermal Energy Corporation
- Mintek Dendrill Indonesia
- Rashtriya Ispat Nigam Limited - India
- Indika Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Xindia Steels Limited - India
- The State Trading Corporation of India Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Global Coal Blending Company Limited - Australia
- Bangladesh Power Developement Board
- Ind-Barath Power Infra Limited - India
- India Bulls Power Limited - India
- PTC India Limited - India
- Carbofer General Trading SA - India
- Madhucon Powers Ltd - India
- Deloitte Consulting - India
- Siam City Cement - Thailand
- PowerSource Philippines DevCo
- Barasentosa Lestari - Indonesia
- Thiess Contractors Indonesia
- Billiton Holdings Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Trasteel International SA, Italy
- Central Electricity Authority - India
- TNB Fuel Sdn Bhd - Malaysia
- VISA Power Limited - India
- Mercator Lines Limited - India
- IHS Mccloskey Coal Group - USA
- Agrawal Coal Company - India
- Indian Energy Exchange, India
- Oldendorff Carriers - Singapore
- Grasim Industreis Ltd - India
- Riau Bara Harum - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Green Power PLC Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Salva Resources Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Indogreen Group - Indonesia
- Aditya Birla Group - India
- Planning Commission, India
- Meenaskhi Energy Private Limited - India
- Bukit Makmur.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Tamil Nadu electricity Board
- Marubeni Corporation - India
- CIMB Investment Bank - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Wilmar Investment Holdings
- Semirara Mining and Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Renaissance Capital - South Africa
- GN Power Mariveles Coal Plant, Philippines
- White Energy Company Limited
- Malabar Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Ambuja Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Anglo American - United Kingdom
- ASAPP Information Group - India
- Indian Oil Corporation Limited
- Metalloyd Limited - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- Independent Power Producers Association of India
- Rio Tinto Coal - Australia
- Electricity Authority, New Zealand
- Essar Steel Hazira Ltd - India
- Power Finance Corporation Ltd., India
- Heidelberg Cement - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- GVK Power & Infra Limited - India
- Latin American Coal - Colombia
- Leighton Contractors Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Alfred C Toepfer International GmbH - Germany
- Aboitiz Power Corporation - Philippines
- Merrill Lynch Commodities Europe
- Straits Asia Resources Limited - Singapore
- Sical Logistics Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Finance - Indonesia
- Kepco SPC Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Ministry of Mines - Canada
- Parliament of New Zealand
- Thai Mozambique Logistica
- Pendopo Energi Batubara - Indonesia
- Larsen & Toubro Limited - India
- Dalmia Cement Bharat India
- Chamber of Mines of South Africa
- TeaM Sual Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement PLC, Thailand
- Singapore Mercantile Exchange
- Ceylon Electricity Board - Sri Lanka
- Tata Chemicals Ltd - India
- Karaikal Port Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Energy Development Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- GMR Energy Limited - India
- Sojitz Corporation - Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Posco Energy - South Korea
- Bukit Baiduri Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Economic Council, Georgia
- Kohat Cement Company Ltd. - Pakistan
- Antam Resourcindo - Indonesia
- Energy Link Ltd, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Makarim & Taira - Indonesia
- GAC Shipping (India) Pvt Ltd
- Lanco Infratech Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Semirara Mining Corp, Philippines
- SMG Consultants - Indonesia
- Banpu Public Company Limited - Thailand
- Krishnapatnam Port Company Ltd. - India
- Star Paper Mills Limited - India
- Coastal Gujarat Power Limited - India
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- Chettinad Cement Corporation Ltd - India
- Globalindo Alam Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- Kideco Jaya Agung - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karbindo Abesyapradhi - Indoneisa
- Attock Cement Pakistan Limited
- Eastern Coal Council - USA
- Petron Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Sakthi Sugars Limited - India
- IEA Clean Coal Centre - UK
- Bhoruka Overseas - Indonesia
- Toyota Tsusho Corporation, Japan
- SN Aboitiz Power Inc, Philippines
- Coalindo Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- PNOC Exploration Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The Treasury - Australian Government
- Eastern Energy - Thailand
- Mercuria Energy - Indonesia
- Coal and Oil Company - UAE
- Price Waterhouse Coopers - Russia
- Kalimantan Lumbung Energi - Indonesia
- Bharathi Cement Corporation - India
- Sarangani Energy Corporation, Philippines
- Electricity Generating Authority of Thailand
- Jaiprakash Power Ventures ltd
- Medco Energi Mining Internasional
- Borneo Indobara - Indonesia
- Videocon Industries ltd - India
- Savvy Resources Ltd - HongKong
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