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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, 18 August 15
DRY BULK: MARKETS HAVE CONTINUED TO BE SEVERELY CHALLENGED - CLARKSONS
The dry bulk markets have continued to be severely challenged with freight rates falling during the period to below operating expense. The Baltic D ...
Tuesday, 18 August 15
1Q'16 FOB RICHARDS BAY COAL SWAP FALLS BELOW $54 A TON
COALspot.com: API4 FOB Richards Bay Coal swap for delivery 4Q' 2015 declined month over month and week over week.
The 4Q swap was down US$ ...
Tuesday, 18 August 15
2Q' 16 FOB NEWCASTLE COAL SWAP CLOSED AT $43 PER MT W/E 14 AUGUST
COALspot.com: API 5 FOB Newcastle Coal swap for 4Q’ 2015 delivery down $ 1.08 per MT (-2.46%) month over month to US$ 42.82 per mt. The swap ...
Monday, 17 August 15
TROUBLED DRY BULK MARKET FACES TURMOIL AS CHINESE COAL IMPORTS REMAIN WEAK - BIMCO
The demand for coal in China continues to diminish. So much in fact that India is expected to succeed China as the world’s largest imp ...
Monday, 17 August 15
INDONESIAN THERMAL COAL REFERENCE PRICE HITS RECORD LOW AGAIN!
COALspot.com - The Director General of Mineral and Coal of Indonesia revised down Indonesian coal benchmark price once again to US$ 59.14 per MT fo ...
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- Kobexindo Tractors - Indoneisa
- Sakthi Sugars Limited - India
- Salva Resources Pvt Ltd - India
- Antam Resourcindo - Indonesia
- PowerSource Philippines DevCo
- Indonesian Coal Mining Association
- MS Steel International - UAE
- Renaissance Capital - South Africa
- Indian Energy Exchange, India
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- Coalindo Energy - Indonesia
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- Wood Mackenzie - Singapore
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- Georgia Ports Authority, United States
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- PTC India Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Holcim Trading Pte Ltd - Singapore
- Rio Tinto Coal - Australia
- GN Power Mariveles Coal Plant, Philippines
- Economic Council, Georgia
- Energy Development Corp, Philippines
- Romanian Commodities Exchange
- Uttam Galva Steels Limited - India
- Cement Manufacturers Association - India
- Kalimantan Lumbung Energi - Indonesia
- Electricity Generating Authority of Thailand
- Minerals Council of Australia
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- PNOC Exploration Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Billiton Holdings Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- Neyveli Lignite Corporation Ltd, - India
- GVK Power & Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- Xindia Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Merrill Lynch Commodities Europe
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- New Zealand Coal & Carbon
- Australian Coal Association
- Carbofer General Trading SA - India
- Mercuria Energy - Indonesia
- Coal and Oil Company - UAE
- Directorate General of MIneral and Coal - Indonesia
- Planning Commission, India
- Sojitz Corporation - Japan
- Tata Chemicals Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Bulk Trading Sa - Switzerland
- Central Java Power - Indonesia
- Trasteel International SA, Italy
- Aditya Birla Group - India
- Asmin Koalindo Tuhup - Indonesia
- OPG Power Generation Pvt Ltd - India
- Heidelberg Cement - Germany
- Marubeni Corporation - India
- Therma Luzon, Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Banpu Public Company Limited - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement PLC, Thailand
- Manunggal Multi Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Singapore Mercantile Exchange
- Borneo Indobara - Indonesia
- Maheswari Brothers Coal Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Interocean Group of Companies - India
- The University of Queensland
- Ministry of Finance - Indonesia
- Baramulti Group, Indonesia
- Orica Mining Services - Indonesia
- Aboitiz Power Corporation - Philippines
- Edison Trading Spa - Italy
- Kepco SPC Power Corporation, Philippines
- London Commodity Brokers - England
- Bukit Makmur.PT - Indonesia
- GMR Energy Limited - India
- ICICI Bank Limited - India
- McConnell Dowell - Australia
- Leighton Contractors Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Bangladesh Power Developement Board
- TeaM Sual Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Gujarat Sidhee Cement - India
- Lanco Infratech Ltd - India
- Global Business Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Cigading International Bulk Terminal - Indonesia
- Agrawal Coal Company - India
- Gujarat Mineral Development Corp Ltd - India
- Commonwealth Bank - Australia
- Jorong Barutama Greston.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Star Paper Mills Limited - India
- Mintek Dendrill Indonesia
- Kapuas Tunggal Persada - Indonesia
- Tamil Nadu electricity Board
- Meenaskhi Energy Private Limited - India
- Deloitte Consulting - India
- AsiaOL BioFuels Corp., Philippines
- Madhucon Powers Ltd - India
- CIMB Investment Bank - Malaysia
- GAC Shipping (India) Pvt Ltd
- Global Coal Blending Company Limited - Australia
- Videocon Industries ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining Corp, Philippines
- Bhoruka Overseas - Indonesia
- Medco Energi Mining Internasional
- Mercator Lines Limited - India
- Thiess Contractors Indonesia
- Indo Tambangraya Megah - Indonesia
- ASAPP Information Group - India
- The State Trading Corporation of India Ltd
- IEA Clean Coal Centre - UK
- Makarim & Taira - Indonesia
- Ministry of Mines - Canada
- LBH Netherlands Bv - Netherlands
- Rashtriya Ispat Nigam Limited - India
- Bukit Baiduri Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Anglo American - United Kingdom
- Bhushan Steel Limited - India
- Riau Bara Harum - Indonesia
- Energy Link Ltd, New Zealand
- Sree Jayajothi Cements Limited - India
- International Coal Ventures Pvt Ltd - India
- Central Electricity Authority - India
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- White Energy Company Limited
- Jaiprakash Power Ventures ltd
- Independent Power Producers Association of India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Metalloyd Limited - United Kingdom
- Parliament of New Zealand
- Sinarmas Energy and Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Karaikal Port Pvt Ltd - India
- SMG Consultants - Indonesia
- Samtan Co., Ltd - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bharathi Cement Corporation - India
- Iligan Light & Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Altura Mining Limited, Indonesia
- Eastern Coal Council - USA
- Bhatia International Limited - India
- Barasentosa Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Wilmar Investment Holdings
- Vizag Seaport Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Attock Cement Pakistan Limited
- Kartika Selabumi Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Orica Australia Pty. Ltd.
- Power Finance Corporation Ltd., India
- Gujarat Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- CNBM International Corporation - China
- Standard Chartered Bank - UAE
- Oldendorff Carriers - Singapore
- Petron Corporation, Philippines
- Indogreen Group - Indonesia
- Formosa Plastics Group - Taiwan
- San Jose City I Power Corp, Philippines
- Africa Commodities Group - South Africa
- India Bulls Power Limited - India
- Jindal Steel & Power Ltd - India
- Electricity Authority, New Zealand
- Sical Logistics Limited - India
- The Treasury - Australian Government
- Ind-Barath Power Infra Limited - India
- Binh Thuan Hamico - Vietnam
- SMC Global Power, Philippines
- VISA Power Limited - India
- Thai Mozambique Logistica
- Ambuja Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Bayan Resources Tbk. - Indonesia
- Indian Oil Corporation Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Posco Energy - South Korea
- European Bulk Services B.V. - Netherlands
- Meralco Power Generation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Dalmia Cement Bharat India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Latin American Coal - Colombia
- Intertek Mineral Services - Indonesia
- Essar Steel Hazira Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement - Thailand
- SN Aboitiz Power Inc, Philippines
- Malabar Cements Ltd - India
- Vedanta Resources Plc - India
- Kaltim Prima Coal - Indonesia
- Grasim Industreis Ltd - India
- Chamber of Mines of South Africa
- Karbindo Abesyapradhi - Indoneisa
- South Luzon Thermal Energy Corporation
- Parry Sugars Refinery, India
- Mjunction Services Limited - India
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