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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, 01 September 15
FOB RICHARDS BAY COAL SWAPS STILL SLIDING; Q2'16 DELIVERY LOST AROUND 6 PERCENT M-O-M
COALspot.com: API4 FOB Richards Bay Coal swap for delivery 4Q' 2015 gain week over week but declined month over month.
The 4Q swap was dow ...
Monday, 31 August 15
API 5 FOB NEWCASTLE COAL SWAP GAINS WEEK OVER WEEK
COALspot.com: API 5 FOB Newcastle Coal swap for 4Q’ 2015 delivery down $ 1.85 per MT (-4.23%) month over month to US$ 41.87 per mt. The swap ...
Monday, 31 August 15
Q1'16 CFR SOUTH CHINA COAL SWAP ENDS DOWN MORE THAN 4 PERCENT MONTH OVER MONTH
COALspot.com: API 8 CFR South China Coal swap for 4Q’ 2015 delivery declined just US$ 1.91 (3.78%) per MT month over month.
A commodity ...
Sunday, 30 August 15
THE DRY BULK MARKET UNDOUBTEDLY REMAINS WEAK & VOLATILE THIS WEEK
COALspot.com: The BDI slipped further down this week, moving closer to 900 level. This week’s BDI falls 9.15 pct and closed at 903 points. Wh ...
Friday, 28 August 15
DRY BULK SHIP OWNER OPTIMISTIC ABOUT FUTURE PROSPECTS OF THE MARKET: NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Dry bulk ship owner Golden Ocean appeared optimistic on the long term prospects of the dry bulk market, mainly thanks to an expected resolution of ...
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- Riau Bara Harum - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chamber of Mines of South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Oil Corporation Limited
- Indika Energy - Indonesia
- Madhucon Powers Ltd - India
- Trasteel International SA, Italy
- Makarim & Taira - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Star Paper Mills Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Cement Manufacturers Association - India
- Asmin Koalindo Tuhup - Indonesia
- Goldman Sachs - Singapore
- Mintek Dendrill Indonesia
- Bayan Resources Tbk. - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Deloitte Consulting - India
- Banpu Public Company Limited - Thailand
- CNBM International Corporation - China
- Iligan Light & Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Sakthi Sugars Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement - Thailand
- Videocon Industries ltd - India
- Kepco SPC Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Holcim Trading Pte Ltd - Singapore
- PowerSource Philippines DevCo
- Cigading International Bulk Terminal - Indonesia
- SMC Global Power, Philippines
- Jaiprakash Power Ventures ltd
- VISA Power Limited - India
- Toyota Tsusho Corporation, Japan
- Standard Chartered Bank - UAE
- Attock Cement Pakistan Limited
- Power Finance Corporation Ltd., India
- India Bulls Power Limited - India
- Sindya Power Generating Company Private Ltd
- Krishnapatnam Port Company Ltd. - India
- Georgia Ports Authority, United States
- Directorate General of MIneral and Coal - Indonesia
- Bhatia International Limited - India
- Central Electricity Authority - India
- Australian Coal Association
- Aditya Birla Group - India
- Simpson Spence & Young - Indonesia
- Jindal Steel & Power Ltd - India
- Heidelberg Cement - Germany
- AsiaOL BioFuels Corp., Philippines
- Malabar Cements Ltd - India
- Singapore Mercantile Exchange
- Thai Mozambique Logistica
- Economic Council, Georgia
- Barasentosa Lestari - Indonesia
- Electricity Generating Authority of Thailand
- Ministry of Mines - Canada
- Sojitz Corporation - Japan
- SN Aboitiz Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Eastern Coal Council - USA
- CIMB Investment Bank - Malaysia
- Price Waterhouse Coopers - Russia
- Maharashtra Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- Parry Sugars Refinery, India
- Africa Commodities Group - South Africa
- The Treasury - Australian Government
- Bhoruka Overseas - Indonesia
- San Jose City I Power Corp, Philippines
- Rio Tinto Coal - Australia
- Savvy Resources Ltd - HongKong
- Central Java Power - Indonesia
- PNOC Exploration Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Electricity Authority, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Planning Commission, India
- Parliament of New Zealand
- Aboitiz Power Corporation - Philippines
- Indian Energy Exchange, India
- SMG Consultants - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Indogreen Group - Indonesia
- Medco Energi Mining Internasional
- Meralco Power Generation, Philippines
- International Coal Ventures Pvt Ltd - India
- Minerals Council of Australia
- Gujarat Mineral Development Corp Ltd - India
- Essar Steel Hazira Ltd - India
- Samtan Co., Ltd - South Korea
- Energy Development Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Coal and Oil Company - UAE
- Semirara Mining Corp, Philippines
- Global Business Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Vedanta Resources Plc - India
- Altura Mining Limited, Indonesia
- Thiess Contractors Indonesia
- MS Steel International - UAE
- Intertek Mineral Services - Indonesia
- Baramulti Group, Indonesia
- Eastern Energy - Thailand
- Vizag Seaport Private Limited - India
- Anglo American - United Kingdom
- New Zealand Coal & Carbon
- Sree Jayajothi Cements Limited - India
- PTC India Limited - India
- GVK Power & Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- The University of Queensland
- Indo Tambangraya Megah - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bangladesh Power Developement Board
- Kartika Selabumi Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Latin American Coal - Colombia
- Neyveli Lignite Corporation Ltd, - India
- Renaissance Capital - South Africa
- Gujarat Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Bharathi Cement Corporation - India
- Miang Besar Coal Terminal - Indonesia
- Wood Mackenzie - Singapore
- Kideco Jaya Agung - Indonesia
- Bukit Makmur.PT - Indonesia
- Tamil Nadu electricity Board
- Siam City Cement PLC, Thailand
- Mercator Lines Limited - India
- Kaltim Prima Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Borneo Indobara - Indonesia
- Oldendorff Carriers - Singapore
- Wilmar Investment Holdings
- Antam Resourcindo - Indonesia
- Rashtriya Ispat Nigam Limited - India
- White Energy Company Limited
- Port Waratah Coal Services - Australia
- Merrill Lynch Commodities Europe
- Posco Energy - South Korea
- LBH Netherlands Bv - Netherlands
- Orica Mining Services - Indonesia
- Xindia Steels Limited - India
- Therma Luzon, Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Ind-Barath Power Infra Limited - India
- Coalindo Energy - Indonesia
- Australian Commodity Traders Exchange
- Ambuja Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Grasim Industreis Ltd - India
- Global Green Power PLC Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Uttam Galva Steels Limited - India
- McConnell Dowell - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- OPG Power Generation Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Lanco Infratech Ltd - India
- GMR Energy Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Kumho Petrochemical, South Korea
- Independent Power Producers Association of India
- Kohat Cement Company Ltd. - Pakistan
- IHS Mccloskey Coal Group - USA
- Tata Chemicals Ltd - India
- Larsen & Toubro Limited - India
- Binh Thuan Hamico - Vietnam
- Carbofer General Trading SA - India
- Billiton Holdings Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Chettinad Cement Corporation Ltd - India
- GAC Shipping (India) Pvt Ltd
- Marubeni Corporation - India
- ASAPP Information Group - India
- ICICI Bank Limited - India
- Timah Investasi Mineral - Indoneisa
- Ministry of Transport, Egypt
- The State Trading Corporation of India Ltd
- London Commodity Brokers - England
- Manunggal Multi Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Meenaskhi Energy Private Limited - India
- Energy Link Ltd, New Zealand
- Ministry of Finance - Indonesia
- Directorate Of Revenue Intelligence - India
- Metalloyd Limited - United Kingdom
- IEA Clean Coal Centre - UK
- Dalmia Cement Bharat India
- Mercuria Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sical Logistics Limited - India
- TeaM Sual Corporation - Philippines
- Interocean Group of Companies - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Agrawal Coal Company - India
- Gujarat Sidhee Cement - India
- Mjunction Services Limited - India
- Indonesian Coal Mining Association
- Bulk Trading Sa - Switzerland
- Romanian Commodities Exchange
- Leighton Contractors Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Bhushan Steel Limited - India
- Petron Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Sarangani Energy Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Commonwealth Bank - Australia
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