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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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Sunday, 20 September 15
BALTIC CAPE INDEX ROSE 66.52 PER CENT AND STAND NOW AT 1995 POINTS
COALspot.com: The BDI (Baltic Dry Index) rose 17.35 per cent week over week to 960 points on Friday mainly driven by the Capesize segment. The Cape ...
Friday, 18 September 15
SHIPPING AND THE FED RATE DECISION: FINANCING COSTS COULD RISE EVEN HIGHER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Regardless of the FED’s decision to raise rates, shipping stands to be influenced by the decision. Shipbroker Allied Shipbroking noted this w ...
Friday, 18 September 15
U.S. COAL PRODUCTION DECLINED 6.7 PER CENT W-W: EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 17.4 million shor ...
Thursday, 17 September 15
COALSPOT HAS LAUNCHED NEW THERMAL COAL INDICES FOR INDONESIAN COAL
COALspot.com has today launched real-time CS (i) Coal Indices.
The Indices represents 3800 kcal/kg GAR, 4200 kcal/kg GAR, 5000 kcal/kg GAR a ...
Thursday, 17 September 15
LOW DEMAND PUSH COAL SWAP DOWN
COALspot.com: Indonesian coal swap for delivery 4Q 2015 declined month on month and gain week over week.
The 4Q swap declined $ 1.77 (-4.17%) ...
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- Indonesian Coal Mining Association
- Lanco Infratech Ltd - India
- Meralco Power Generation, Philippines
- International Coal Ventures Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- ASAPP Information Group - India
- PowerSource Philippines DevCo
- Medco Energi Mining Internasional
- Sojitz Corporation - Japan
- Economic Council, Georgia
- Jorong Barutama Greston.PT - Indonesia
- ICICI Bank Limited - India
- Antam Resourcindo - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Sinarmas Energy and Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tata Chemicals Ltd - India
- Ministry of Transport, Egypt
- Binh Thuan Hamico - Vietnam
- Sakthi Sugars Limited - India
- Orica Australia Pty. Ltd.
- Globalindo Alam Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Kideco Jaya Agung - Indonesia
- Bhatia International Limited - India
- Marubeni Corporation - India
- Uttam Galva Steels Limited - India
- Barasentosa Lestari - Indonesia
- Minerals Council of Australia
- Anglo American - United Kingdom
- New Zealand Coal & Carbon
- Kalimantan Lumbung Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Electricity Authority, New Zealand
- Edison Trading Spa - Italy
- Heidelberg Cement - Germany
- Chamber of Mines of South Africa
- Gujarat Sidhee Cement - India
- Siam City Cement - Thailand
- Miang Besar Coal Terminal - Indonesia
- Thiess Contractors Indonesia
- Deloitte Consulting - India
- Bangladesh Power Developement Board
- Vizag Seaport Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Maheswari Brothers Coal Limited - India
- Jindal Steel & Power Ltd - India
- Rio Tinto Coal - Australia
- Coalindo Energy - Indonesia
- Trasteel International SA, Italy
- Gujarat Mineral Development Corp Ltd - India
- Chettinad Cement Corporation Ltd - India
- Therma Luzon, Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Planning Commission, India
- TNB Fuel Sdn Bhd - Malaysia
- Xindia Steels Limited - India
- Intertek Mineral Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Bharathi Cement Corporation - India
- Independent Power Producers Association of India
- The State Trading Corporation of India Ltd
- OPG Power Generation Pvt Ltd - India
- Central Electricity Authority - India
- Mercator Lines Limited - India
- AsiaOL BioFuels Corp., Philippines
- Port Waratah Coal Services - Australia
- Borneo Indobara - Indonesia
- Semirara Mining Corp, Philippines
- Price Waterhouse Coopers - Russia
- Renaissance Capital - South Africa
- Sical Logistics Limited - India
- Toyota Tsusho Corporation, Japan
- Metalloyd Limited - United Kingdom
- Wilmar Investment Holdings
- Ambuja Cements Ltd - India
- McConnell Dowell - Australia
- Africa Commodities Group - South Africa
- Formosa Plastics Group - Taiwan
- Gujarat Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Star Paper Mills Limited - India
- Eastern Coal Council - USA
- Leighton Contractors Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- Australian Commodity Traders Exchange
- Makarim & Taira - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Banpu Public Company Limited - Thailand
- Altura Mining Limited, Indonesia
- Standard Chartered Bank - UAE
- Eastern Energy - Thailand
- Carbofer General Trading SA - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- LBH Netherlands Bv - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- India Bulls Power Limited - India
- SMG Consultants - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Ministry of Mines - Canada
- Simpson Spence & Young - Indonesia
- Interocean Group of Companies - India
- Directorate General of MIneral and Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Samtan Co., Ltd - South Korea
- IEA Clean Coal Centre - UK
- Indian Oil Corporation Limited
- Holcim Trading Pte Ltd - Singapore
- Indogreen Group - Indonesia
- Indian Energy Exchange, India
- Mercuria Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- CNBM International Corporation - China
- Sree Jayajothi Cements Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Bhoruka Overseas - Indonesia
- Kepco SPC Power Corporation, Philippines
- Tamil Nadu electricity Board
- Kobexindo Tractors - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Vedanta Resources Plc - India
- Indika Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Electricity Generating Authority of Thailand
- White Energy Company Limited
- Essar Steel Hazira Ltd - India
- Thai Mozambique Logistica
- Riau Bara Harum - Indonesia
- Baramulti Group, Indonesia
- Wood Mackenzie - Singapore
- GMR Energy Limited - India
- Bulk Trading Sa - Switzerland
- Coal and Oil Company - UAE
- Singapore Mercantile Exchange
- Larsen & Toubro Limited - India
- Parliament of New Zealand
- Central Java Power - Indonesia
- Sarangani Energy Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Australian Coal Association
- Kumho Petrochemical, South Korea
- The University of Queensland
- Kartika Selabumi Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Directorate Of Revenue Intelligence - India
- GN Power Mariveles Coal Plant, Philippines
- San Jose City I Power Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Energy Development Corp, Philippines
- Global Business Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Latin American Coal - Colombia
- PNOC Exploration Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- London Commodity Brokers - England
- Dalmia Cement Bharat India
- Bahari Cakrawala Sebuku - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Iligan Light & Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- TeaM Sual Corporation - Philippines
- Power Finance Corporation Ltd., India
- Bhushan Steel Limited - India
- Straits Asia Resources Limited - Singapore
- Posco Energy - South Korea
- Parry Sugars Refinery, India
- Mintek Dendrill Indonesia
- VISA Power Limited - India
- Jaiprakash Power Ventures ltd
- Malabar Cements Ltd - India
- Oldendorff Carriers - Singapore
- Georgia Ports Authority, United States
- Energy Link Ltd, New Zealand
- Commonwealth Bank - Australia
- Romanian Commodities Exchange
- Attock Cement Pakistan Limited
- Mjunction Services Limited - India
- Karaikal Port Pvt Ltd - India
- Aditya Birla Group - India
- Meenaskhi Energy Private Limited - India
- Cement Manufacturers Association - India
- Goldman Sachs - Singapore
- PTC India Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- SN Aboitiz Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pendopo Energi Batubara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cigading International Bulk Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Alfred C Toepfer International GmbH - Germany
- Coastal Gujarat Power Limited - India
- MS Steel International - UAE
- Siam City Cement PLC, Thailand
- Petron Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Orica Mining Services - Indonesia
- Videocon Industries ltd - India
- Timah Investasi Mineral - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The Treasury - Australian Government
- GVK Power & Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Finance - Indonesia
- CIMB Investment Bank - Malaysia
- Kaltim Prima Coal - Indonesia
- SMC Global Power, Philippines
- Merrill Lynch Commodities Europe
- Grasim Industreis Ltd - India
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