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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, 30 September 15
Q1'16 FOB INDONESIA COAL SWAP FALLS $1.25 A TON AS SLIDE CONTINUES
COALspot.com: Indonesian coal swap for delivery Q4 2015 declined month on month and week over week.
The Q4 swap declined $ 0.72 (-1.78%) per t ...
Wednesday, 30 September 15
NEW BUILDING MARKET INSIGHT
COALspot.com: This year has been, beyond any doubt, a rather strenuous one for the newbuilding market. Ordering activity with regards to Dry Bulker ...
Tuesday, 29 September 15
FOB RICHARDS BAY COAL SWAPS ARE SLIDING
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q4' 2015 declined week over week and month over month.
The Q4 swap was down US$ ...
Monday, 28 September 15
API 5 FOB NEWCASTLE COAL SWAPS UP $2.15 IN ONE MONTH
COALspot.com: API 5 FOB Newcastle Coal swap for Q4’ 2015 delivery increased $2.10 per ton (5.15%) month over month to US$ 42.93 per ton. The ...
Monday, 28 September 15
CAPESIZE FLEET INCREASES BY JUST 1 VESSEL DURING LAST 12 MONTHS, IN POSITIVE SIGN FOR DRY BULK SHIPPING MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
After a rather tumultuous period, the shipping industry and more particular the dry bulk market has started to adjust to the new realities of globa ...
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Banpu Public Company Limited - Thailand
- Heidelberg Cement - Germany
- Kepco SPC Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Bharathi Cement Corporation - India
- The Treasury - Australian Government
- Georgia Ports Authority, United States
- McConnell Dowell - Australia
- Xindia Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Independent Power Producers Association of India
- Orica Australia Pty. Ltd.
- PTC India Limited - India
- GVK Power & Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Africa Commodities Group - South Africa
- Mercator Lines Limited - India
- European Bulk Services B.V. - Netherlands
- London Commodity Brokers - England
- Binh Thuan Hamico - Vietnam
- Australian Commodity Traders Exchange
- Kobexindo Tractors - Indoneisa
- Salva Resources Pvt Ltd - India
- Cement Manufacturers Association - India
- Eastern Energy - Thailand
- Edison Trading Spa - Italy
- Indika Energy - Indonesia
- Merrill Lynch Commodities Europe
- Jaiprakash Power Ventures ltd
- Lanco Infratech Ltd - India
- Indo Tambangraya Megah - Indonesia
- Iligan Light & Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Oldendorff Carriers - Singapore
- Wilmar Investment Holdings
- Holcim Trading Pte Ltd - Singapore
- Bhoruka Overseas - Indonesia
- Savvy Resources Ltd - HongKong
- SMG Consultants - Indonesia
- ASAPP Information Group - India
- Mintek Dendrill Indonesia
- Marubeni Corporation - India
- Minerals Council of Australia
- Straits Asia Resources Limited - Singapore
- Intertek Mineral Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Siam City Cement - Thailand
- AsiaOL BioFuels Corp., Philippines
- Neyveli Lignite Corporation Ltd, - India
- Madhucon Powers Ltd - India
- Central Java Power - Indonesia
- Mercuria Energy - Indonesia
- Deloitte Consulting - India
- Pendopo Energi Batubara - Indonesia
- Meralco Power Generation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Coal and Oil Company - UAE
- India Bulls Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sical Logistics Limited - India
- Trasteel International SA, Italy
- Meenaskhi Energy Private Limited - India
- SMC Global Power, Philippines
- Ceylon Electricity Board - Sri Lanka
- Tamil Nadu electricity Board
- Petrochimia International Co. Ltd.- Taiwan
- IEA Clean Coal Centre - UK
- Attock Cement Pakistan Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Bayan Resources Tbk. - Indonesia
- Posco Energy - South Korea
- Semirara Mining Corp, Philippines
- Medco Energi Mining Internasional
- The State Trading Corporation of India Ltd
- Carbofer General Trading SA - India
- TeaM Sual Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Billiton Holdings Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- Energy Link Ltd, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Formosa Plastics Group - Taiwan
- Thai Mozambique Logistica
- Vijayanagar Sugar Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Kaltim Prima Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Ambuja Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sojitz Corporation - Japan
- Interocean Group of Companies - India
- Orica Mining Services - Indonesia
- Goldman Sachs - Singapore
- Borneo Indobara - Indonesia
- Ministry of Finance - Indonesia
- Bukit Makmur.PT - Indonesia
- New Zealand Coal & Carbon
- Eastern Coal Council - USA
- Anglo American - United Kingdom
- Coalindo Energy - Indonesia
- Latin American Coal - Colombia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Grasim Industreis Ltd - India
- Agrawal Coal Company - India
- Bangladesh Power Developement Board
- Kohat Cement Company Ltd. - Pakistan
- Antam Resourcindo - Indonesia
- Makarim & Taira - Indonesia
- Directorate Of Revenue Intelligence - India
- GMR Energy Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Vizag Seaport Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Indian Energy Exchange, India
- Chamber of Mines of South Africa
- Kapuas Tunggal Persada - Indonesia
- Gujarat Sidhee Cement - India
- Power Finance Corporation Ltd., India
- Kideco Jaya Agung - Indonesia
- Bhatia International Limited - India
- Indian Oil Corporation Limited
- Sakthi Sugars Limited - India
- VISA Power Limited - India
- Dalmia Cement Bharat India
- Jindal Steel & Power Ltd - India
- Rashtriya Ispat Nigam Limited - India
- San Jose City I Power Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Barasentosa Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- Renaissance Capital - South Africa
- Mjunction Services Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- White Energy Company Limited
- Tata Chemicals Ltd - India
- Karaikal Port Pvt Ltd - India
- Parry Sugars Refinery, India
- Port Waratah Coal Services - Australia
- Central Electricity Authority - India
- Siam City Cement PLC, Thailand
- Planning Commission, India
- Leighton Contractors Pty Ltd - Australia
- Romanian Commodities Exchange
- PNOC Exploration Corporation - Philippines
- Star Paper Mills Limited - India
- Wood Mackenzie - Singapore
- Timah Investasi Mineral - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Metalloyd Limited - United Kingdom
- Sree Jayajothi Cements Limited - India
- Thiess Contractors Indonesia
- Altura Mining Limited, Indonesia
- South Luzon Thermal Energy Corporation
- Ministry of Mines - Canada
- CIMB Investment Bank - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Rio Tinto Coal - Australia
- Simpson Spence & Young - Indonesia
- Standard Chartered Bank - UAE
- Bukit Baiduri Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Larsen & Toubro Limited - India
- LBH Netherlands Bv - Netherlands
- Sindya Power Generating Company Private Ltd
- Electricity Authority, New Zealand
- Samtan Co., Ltd - South Korea
- Singapore Mercantile Exchange
- Cigading International Bulk Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Electricity Generating Authority of Thailand
- Petron Corporation, Philippines
- Malabar Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- The University of Queensland
- Ministry of Transport, Egypt
- Australian Coal Association
- Kumho Petrochemical, South Korea
- OPG Power Generation Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Videocon Industries ltd - India
- PowerSource Philippines DevCo
- MS Steel International - UAE
- Jorong Barutama Greston.PT - Indonesia
- Parliament of New Zealand
- Commonwealth Bank - Australia
- Indogreen Group - Indonesia
- CNBM International Corporation - China
- ICICI Bank Limited - India
- Economic Council, Georgia
- Maharashtra Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Bhushan Steel Limited - India
- Aditya Birla Group - India
- Global Coal Blending Company Limited - Australia
- Baramulti Group, Indonesia
- Vedanta Resources Plc - India
- Indonesian Coal Mining Association
- Essar Steel Hazira Ltd - India
- Bulk Trading Sa - Switzerland
- Uttam Galva Steels Limited - India
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