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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, 28 September 15
Q1'16 CFR SOUTH CHINA COAL SWAP ROSE 2.73 PER CENT M-M
COALspot.com: API 8 CFR South China Coal swap for 4Q’ 2015 delivery moved upward US$ 1.45 (3.04 %) per ton month over month.
A commodity ...
Sunday, 27 September 15
THE PANAMAX INDEX FELL 1.19 PCT WEEK OVER WEEK
COALspot.com: The BDI closed Friday (25/09/2015) at 943 points, down by 17 points compared to previous Friday closing (18/09/2015). The BDI wa ...
Friday, 25 September 15
COAL PRODUCTION IN THE U.S. FOR THE WEEK ENDING SEPTEMBER 19 ROSE 2.5% PER CENT W-W
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 17.8 million shor ...
Wednesday, 23 September 15
CAPESIZE: SPOT RATES HAVE INCREASED MORE THAN 70 PER CENT DURING LAST WEEK
Dry Bulk owners, always look at September as the time that the market “signals” what lies ahead for the remainder of the year. The Chin ...
Wednesday, 23 September 15
INDONESIA: NEW REGULATION APPLIES FINAL INCOME TAX TO MINERAL AND COAL SALES - FLORENCE GRACIA SANTOSO
To increase state revenue from the mining sector, the Government of Indonesia has imposed a new final income tax on any sale of mineral and coal, a ...
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- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Mines - Canada
- Indian Oil Corporation Limited
- AsiaOL BioFuels Corp., Philippines
- Global Green Power PLC Corporation, Philippines
- Bangladesh Power Developement Board
- Xindia Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Electricity Authority, New Zealand
- Standard Chartered Bank - UAE
- San Jose City I Power Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Orica Mining Services - Indonesia
- The University of Queensland
- IEA Clean Coal Centre - UK
- Deloitte Consulting - India
- Makarim & Taira - Indonesia
- Kumho Petrochemical, South Korea
- Central Electricity Authority - India
- Price Waterhouse Coopers - Russia
- Banpu Public Company Limited - Thailand
- Indogreen Group - Indonesia
- Global Coal Blending Company Limited - Australia
- MS Steel International - UAE
- Essar Steel Hazira Ltd - India
- Antam Resourcindo - Indonesia
- Chettinad Cement Corporation Ltd - India
- Planning Commission, India
- Sojitz Corporation - Japan
- Attock Cement Pakistan Limited
- Petron Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Economic Council, Georgia
- Rio Tinto Coal - Australia
- Neyveli Lignite Corporation Ltd, - India
- Interocean Group of Companies - India
- Madhucon Powers Ltd - India
- Straits Asia Resources Limited - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Maharashtra Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Parry Sugars Refinery, India
- CNBM International Corporation - China
- Bukit Baiduri Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Wilmar Investment Holdings
- Uttam Galva Steels Limited - India
- Salva Resources Pvt Ltd - India
- Dalmia Cement Bharat India
- Pendopo Energi Batubara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- The Treasury - Australian Government
- Rashtriya Ispat Nigam Limited - India
- Coal and Oil Company - UAE
- PowerSource Philippines DevCo
- Carbofer General Trading SA - India
- Thiess Contractors Indonesia
- Orica Australia Pty. Ltd.
- Oldendorff Carriers - Singapore
- Borneo Indobara - Indonesia
- Marubeni Corporation - India
- Renaissance Capital - South Africa
- Jorong Barutama Greston.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Electricity Generating Authority of Thailand
- ASAPP Information Group - India
- Manunggal Multi Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Sical Logistics Limited - India
- Bhoruka Overseas - Indonesia
- Baramulti Group, Indonesia
- Bukit Makmur.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Global Business Power Corporation, Philippines
- Bhatia International Limited - India
- Agrawal Coal Company - India
- Barasentosa Lestari - Indonesia
- VISA Power Limited - India
- Siam City Cement - Thailand
- Riau Bara Harum - Indonesia
- Indonesian Coal Mining Association
- Latin American Coal - Colombia
- SMC Global Power, Philippines
- Eastern Energy - Thailand
- Vedanta Resources Plc - India
- Vizag Seaport Private Limited - India
- Kaltim Prima Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Heidelberg Cement - Germany
- SN Aboitiz Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Africa Commodities Group - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Energy Development Corp, Philippines
- Eastern Coal Council - USA
- Sree Jayajothi Cements Limited - India
- Minerals Council of Australia
- Anglo American - United Kingdom
- Gujarat Sidhee Cement - India
- Formosa Plastics Group - Taiwan
- Simpson Spence & Young - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Semirara Mining and Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Meralco Power Generation, Philippines
- SMG Consultants - Indonesia
- Singapore Mercantile Exchange
- Australian Commodity Traders Exchange
- Videocon Industries ltd - India
- Larsen & Toubro Limited - India
- Posco Energy - South Korea
- Bharathi Cement Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Romanian Commodities Exchange
- IHS Mccloskey Coal Group - USA
- Bhushan Steel Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bulk Trading Sa - Switzerland
- New Zealand Coal & Carbon
- Indo Tambangraya Megah - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Binh Thuan Hamico - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Tamil Nadu electricity Board
- Ambuja Cements Ltd - India
- Central Java Power - Indonesia
- McConnell Dowell - Australia
- Karaikal Port Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- OPG Power Generation Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Cement Manufacturers Association - India
- Ministry of Transport, Egypt
- Sakthi Sugars Limited - India
- Grasim Industreis Ltd - India
- PTC India Limited - India
- Aditya Birla Group - India
- India Bulls Power Limited - India
- Indika Energy - Indonesia
- Indian Energy Exchange, India
- Mercator Lines Limited - India
- Gujarat Mineral Development Corp Ltd - India
- TeaM Sual Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Edison Trading Spa - Italy
- Coalindo Energy - Indonesia
- Thai Mozambique Logistica
- Independent Power Producers Association of India
- Merrill Lynch Commodities Europe
- White Energy Company Limited
- Ministry of Finance - Indonesia
- Mercuria Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Kideco Jaya Agung - Indonesia
- Directorate Of Revenue Intelligence - India
- Kartika Selabumi Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Mintek Dendrill Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CIMB Investment Bank - Malaysia
- Krishnapatnam Port Company Ltd. - India
- ICICI Bank Limited - India
- Bayan Resources Tbk. - Indonesia
- South Luzon Thermal Energy Corporation
- London Commodity Brokers - England
- Lanco Infratech Ltd - India
- Intertek Mineral Services - Indonesia
- Commonwealth Bank - Australia
- European Bulk Services B.V. - Netherlands
- Globalindo Alam Lestari - Indonesia
- Trasteel International SA, Italy
- Savvy Resources Ltd - HongKong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Malabar Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- GVK Power & Infra Limited - India
- Star Paper Mills Limited - India
- Parliament of New Zealand
- Goldman Sachs - Singapore
- The State Trading Corporation of India Ltd
- GMR Energy Limited - India
- Altura Mining Limited, Indonesia
- Power Finance Corporation Ltd., India
- Iligan Light & Power Inc, Philippines
- Energy Link Ltd, New Zealand
- Jindal Steel & Power Ltd - India
- Kobexindo Tractors - Indoneisa
- Semirara Mining Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Georgia Ports Authority, United States
- Medco Energi Mining Internasional
- Wood Mackenzie - Singapore
- Gujarat Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- GN Power Mariveles Coal Plant, Philippines
- Tata Chemicals Ltd - India
- Kepco SPC Power Corporation, Philippines
- Chamber of Mines of South Africa
- Leighton Contractors Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Australian Coal Association
- Mjunction Services Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
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