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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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Tuesday, 22 September 15
1Q16 FOB INDONESIA COAL SWAP DECLINED 6.49 PER CENT M-M
COALspot.com: Indonesian coal swap for delivery 4Q 2015 declined month on month and week over week.
The 4Q swap declined $ 2.29 (-5.42%) per t ...
Tuesday, 22 September 15
FOB RICHARDS BAY COAL SWAPS FALL CONTINUES
COALspot.com: API4 FOB Richards Bay Coal swap for delivery 4Q' 2015 declined week over week and month over month.
The 4Q swap was down US$ ...
Monday, 21 September 15
Q4' 15 FOB NEWCASTLE COAL SWAP CLOSED HIGHER THAN Q2' 16 SWAP
COALspot.com: API 5 FOB Newcastle Coal swap for 4Q’ 2015 delivery increased $0.43 per ton (1.01%) month over month to US$ 42.95 per ton. The ...
Monday, 21 September 15
CFR SOUTH CHINA COAL SWAP GAINED WEEK OVER WEEK
COALspot.com: API 8 CFR South China Coal swap for 4Q’ 2015 delivery declined just US$ 0.45 (0.90 %) per ton month over month.
A commodit ...
Monday, 21 September 15
KOMIPO OF KOREA INVITES BIDS FOR BITUMINOUS COAL
COALspot.com: South Korean state-owned utility Korea Midland Power (KOMIPO) issued an new tender for 390,000 Metric Tons (MT) of minimum 4,600 kcal ...
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- Petrochimia International Co. Ltd.- Taiwan
- Kideco Jaya Agung - Indonesia
- Leighton Contractors Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Indian Energy Exchange, India
- The State Trading Corporation of India Ltd
- The Treasury - Australian Government
- Bukit Makmur.PT - Indonesia
- Mjunction Services Limited - India
- Edison Trading Spa - Italy
- Heidelberg Cement - Germany
- Coal and Oil Company - UAE
- Borneo Indobara - Indonesia
- GMR Energy Limited - India
- Lanco Infratech Ltd - India
- Orica Mining Services - Indonesia
- Maheswari Brothers Coal Limited - India
- Indogreen Group - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- San Jose City I Power Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Grasim Industreis Ltd - India
- Riau Bara Harum - Indonesia
- Standard Chartered Bank - UAE
- Siam City Cement - Thailand
- Ministry of Transport, Egypt
- Kartika Selabumi Mining - Indonesia
- Power Finance Corporation Ltd., India
- Kepco SPC Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Kaltim Prima Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Madhucon Powers Ltd - India
- Carbofer General Trading SA - India
- PTC India Limited - India
- Mintek Dendrill Indonesia
- Global Coal Blending Company Limited - Australia
- Bhushan Steel Limited - India
- Ind-Barath Power Infra Limited - India
- Sakthi Sugars Limited - India
- South Luzon Thermal Energy Corporation
- Indonesian Coal Mining Association
- Indian Oil Corporation Limited
- Holcim Trading Pte Ltd - Singapore
- Sindya Power Generating Company Private Ltd
- Kohat Cement Company Ltd. - Pakistan
- Romanian Commodities Exchange
- Global Green Power PLC Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- CNBM International Corporation - China
- Wilmar Investment Holdings
- Banpu Public Company Limited - Thailand
- Malabar Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Sical Logistics Limited - India
- ASAPP Information Group - India
- VISA Power Limited - India
- New Zealand Coal & Carbon
- PNOC Exploration Corporation - Philippines
- Medco Energi Mining Internasional
- Xindia Steels Limited - India
- Bharathi Cement Corporation - India
- London Commodity Brokers - England
- Latin American Coal - Colombia
- Toyota Tsusho Corporation, Japan
- Star Paper Mills Limited - India
- Aboitiz Power Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Marubeni Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Videocon Industries ltd - India
- Jaiprakash Power Ventures ltd
- Trasteel International SA, Italy
- Electricity Generating Authority of Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Anglo American - United Kingdom
- Coalindo Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- OPG Power Generation Pvt Ltd - India
- Central Java Power - Indonesia
- Vizag Seaport Private Limited - India
- Bulk Trading Sa - Switzerland
- Jindal Steel & Power Ltd - India
- Africa Commodities Group - South Africa
- Thiess Contractors Indonesia
- Cigading International Bulk Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Aditya Birla Group - India
- Cement Manufacturers Association - India
- AsiaOL BioFuels Corp., Philippines
- The University of Queensland
- Ceylon Electricity Board - Sri Lanka
- Price Waterhouse Coopers - Russia
- Siam City Cement PLC, Thailand
- Parry Sugars Refinery, India
- Bhoruka Overseas - Indonesia
- Tamil Nadu electricity Board
- Kapuas Tunggal Persada - Indonesia
- Ministry of Mines - Canada
- Maharashtra Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- Makarim & Taira - Indonesia
- Savvy Resources Ltd - HongKong
- Baramulti Group, Indonesia
- Bayan Resources Tbk. - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bangladesh Power Developement Board
- Semirara Mining and Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Eastern Energy - Thailand
- Meralco Power Generation, Philippines
- Chamber of Mines of South Africa
- PowerSource Philippines DevCo
- Parliament of New Zealand
- GAC Shipping (India) Pvt Ltd
- LBH Netherlands Bv - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Georgia Ports Authority, United States
- Mercuria Energy - Indonesia
- Singapore Mercantile Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Independent Power Producers Association of India
- Pipit Mutiara Jaya. PT, Indonesia
- Interocean Group of Companies - India
- Krishnapatnam Port Company Ltd. - India
- IHS Mccloskey Coal Group - USA
- Bukit Baiduri Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- SMC Global Power, Philippines
- Global Business Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Indika Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Port Waratah Coal Services - Australia
- Planning Commission, India
- Binh Thuan Hamico - Vietnam
- Meenaskhi Energy Private Limited - India
- Samtan Co., Ltd - South Korea
- Bhatia International Limited - India
- Ambuja Cements Ltd - India
- Oldendorff Carriers - Singapore
- Energy Development Corp, Philippines
- McConnell Dowell - Australia
- Ministry of Finance - Indonesia
- Rio Tinto Coal - Australia
- Mercator Lines Limited - India
- Coastal Gujarat Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Wood Mackenzie - Singapore
- Attock Cement Pakistan Limited
- Sojitz Corporation - Japan
- Energy Link Ltd, New Zealand
- Australian Commodity Traders Exchange
- Altura Mining Limited, Indonesia
- Posco Energy - South Korea
- Deloitte Consulting - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thai Mozambique Logistica
- Electricity Authority, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dalmia Cement Bharat India
- Agrawal Coal Company - India
- Sarangani Energy Corporation, Philippines
- Australian Coal Association
- Gujarat Mineral Development Corp Ltd - India
- Vedanta Resources Plc - India
- Merrill Lynch Commodities Europe
- Gujarat Sidhee Cement - India
- SMG Consultants - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Therma Luzon, Inc, Philippines
- Antam Resourcindo - Indonesia
- Iligan Light & Power Inc, Philippines
- GVK Power & Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Economic Council, Georgia
- White Energy Company Limited
- Karaikal Port Pvt Ltd - India
- Goldman Sachs - Singapore
- Barasentosa Lestari - Indonesia
- Eastern Coal Council - USA
- MS Steel International - UAE
- Salva Resources Pvt Ltd - India
- Central Electricity Authority - India
- International Coal Ventures Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Billiton Holdings Pty Ltd - Australia
- Minerals Council of Australia
- Renaissance Capital - South Africa
- Commonwealth Bank - Australia
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining Corp, Philippines
- Tata Chemicals Ltd - India
- TeaM Sual Corporation - Philippines
- IEA Clean Coal Centre - UK
- Petron Corporation, Philippines
- Orica Australia Pty. Ltd.
- European Bulk Services B.V. - Netherlands
- CIMB Investment Bank - Malaysia
- Metalloyd Limited - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Formosa Plastics Group - Taiwan
- Larsen & Toubro Limited - India
- Kumho Petrochemical, South Korea
- Essar Steel Hazira Ltd - India
- Timah Investasi Mineral - Indoneisa
- ICICI Bank Limited - India
- India Bulls Power Limited - India
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