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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, 17 August 15
CFR SOUTH CHINA COAL SWAPS CONTINUE TO HEAD SOUTH
COALspot.com: API 8 CFR South China Coal swap for 4Q’ 2015 delivery declined just US cents 40 (1.05%) per MT month over month.
A commodi ...
Sunday, 16 August 15
INDONESIA TO INDIA FREIGHT RATES ARE EXPECTED TO STEADY NEXT WEEK
COALspot.com: The BDI softened 12.08 per cent to 1055 points this week due to weakening of cape index which was fell 25 per cent week over week to ...
Friday, 14 August 15
FOB INDONESIA COAL SWAP SHOWING NO MOVEMENT THIS PAST WEEK
COALspot.com: Indonesian coal swap for delivery 4Q 2015 declined month on month and week over week, this past week.
The 4Q swap was declined $ ...
Friday, 14 August 15
U.S. COAL PRODUCTION UP 2.9 PER CENT THIS WEEK
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 18.2 million shor ...
Friday, 14 August 15
CONDITIONS AND COMPLEXITIES IN A TRIPARTITE AGREEMENT: BE SPECIFIC! - INCE & CO
KNOWLEDGE TO ELEVATE
A tripartite agreement reached between the Owners, the Shippers and the Receivers provided that demurrage be paid to the ...
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Jaiprakash Power Ventures ltd
- Minerals Council of Australia
- Indogreen Group - Indonesia
- Straits Asia Resources Limited - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Indo Tambangraya Megah - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Aboitiz Power Corporation - Philippines
- Independent Power Producers Association of India
- Bulk Trading Sa - Switzerland
- Kumho Petrochemical, South Korea
- GAC Shipping (India) Pvt Ltd
- Heidelberg Cement - Germany
- TeaM Sual Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Mjunction Services Limited - India
- India Bulls Power Limited - India
- Indika Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Agrawal Coal Company - India
- Kideco Jaya Agung - Indonesia
- Sree Jayajothi Cements Limited - India
- Orica Mining Services - Indonesia
- Antam Resourcindo - Indonesia
- Global Coal Blending Company Limited - Australia
- Indian Oil Corporation Limited
- European Bulk Services B.V. - Netherlands
- Coastal Gujarat Power Limited - India
- Therma Luzon, Inc, Philippines
- Aditya Birla Group - India
- South Luzon Thermal Energy Corporation
- Cement Manufacturers Association - India
- Vijayanagar Sugar Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Makarim & Taira - Indonesia
- Salva Resources Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Videocon Industries ltd - India
- Semirara Mining Corp, Philippines
- ASAPP Information Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Intertek Mineral Services - Indonesia
- Australian Coal Association
- Eastern Energy - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Uttam Galva Steels Limited - India
- Thai Mozambique Logistica
- Kohat Cement Company Ltd. - Pakistan
- Chettinad Cement Corporation Ltd - India
- Lanco Infratech Ltd - India
- Standard Chartered Bank - UAE
- Meenaskhi Energy Private Limited - India
- San Jose City I Power Corp, Philippines
- Georgia Ports Authority, United States
- Siam City Cement - Thailand
- Edison Trading Spa - Italy
- SMG Consultants - Indonesia
- Australian Commodity Traders Exchange
- Maheswari Brothers Coal Limited - India
- IHS Mccloskey Coal Group - USA
- Indonesian Coal Mining Association
- Sinarmas Energy and Mining - Indonesia
- Bhoruka Overseas - Indonesia
- Indian Energy Exchange, India
- Carbofer General Trading SA - India
- Siam City Cement PLC, Thailand
- Romanian Commodities Exchange
- GN Power Mariveles Coal Plant, Philippines
- Vizag Seaport Private Limited - India
- ICICI Bank Limited - India
- Port Waratah Coal Services - Australia
- Tata Chemicals Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- Orica Australia Pty. Ltd.
- GVK Power & Infra Limited - India
- Star Paper Mills Limited - India
- Kobexindo Tractors - Indoneisa
- Global Business Power Corporation, Philippines
- Chamber of Mines of South Africa
- New Zealand Coal & Carbon
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Dalmia Cement Bharat India
- Economic Council, Georgia
- Pipit Mutiara Jaya. PT, Indonesia
- Tamil Nadu electricity Board
- Maharashtra Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- Parry Sugars Refinery, India
- Iligan Light & Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Planning Commission, India
- Goldman Sachs - Singapore
- Mercuria Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Ministry of Mines - Canada
- Banpu Public Company Limited - Thailand
- Directorate Of Revenue Intelligence - India
- Formosa Plastics Group - Taiwan
- Kartika Selabumi Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Finance - Indonesia
- White Energy Company Limited
- Kapuas Tunggal Persada - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Wilmar Investment Holdings
- Oldendorff Carriers - Singapore
- PNOC Exploration Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Gujarat Sidhee Cement - India
- Attock Cement Pakistan Limited
- London Commodity Brokers - England
- Bukit Makmur.PT - Indonesia
- Mercator Lines Limited - India
- Manunggal Multi Energi - Indonesia
- Marubeni Corporation - India
- Global Green Power PLC Corporation, Philippines
- Central Electricity Authority - India
- McConnell Dowell - Australia
- Jindal Steel & Power Ltd - India
- Baramulti Group, Indonesia
- The State Trading Corporation of India Ltd
- Semirara Mining and Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Latin American Coal - Colombia
- Sojitz Corporation - Japan
- Ministry of Transport, Egypt
- Directorate General of MIneral and Coal - Indonesia
- Power Finance Corporation Ltd., India
- Xindia Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Essar Steel Hazira Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Merrill Lynch Commodities Europe
- Deloitte Consulting - India
- Riau Bara Harum - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Authority, New Zealand
- Rashtriya Ispat Nigam Limited - India
- Coalindo Energy - Indonesia
- The Treasury - Australian Government
- Gujarat Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PowerSource Philippines DevCo
- Parliament of New Zealand
- Alfred C Toepfer International GmbH - Germany
- Bangladesh Power Developement Board
- MS Steel International - UAE
- Kepco SPC Power Corporation, Philippines
- Coal and Oil Company - UAE
- Commonwealth Bank - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sical Logistics Limited - India
- Petron Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Interocean Group of Companies - India
- GMR Energy Limited - India
- Thiess Contractors Indonesia
- Electricity Generating Authority of Thailand
- The University of Queensland
- Medco Energi Mining Internasional
- Madhucon Powers Ltd - India
- Rio Tinto Coal - Australia
- Ceylon Electricity Board - Sri Lanka
- SMC Global Power, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Leighton Contractors Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- CNBM International Corporation - China
- Ambuja Cements Ltd - India
- Bhushan Steel Limited - India
- Sakthi Sugars Limited - India
- Renaissance Capital - South Africa
- Larsen & Toubro Limited - India
- Anglo American - United Kingdom
- Posco Energy - South Korea
- Bhatia International Limited - India
- Energy Link Ltd, New Zealand
- Energy Development Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Toyota Tsusho Corporation, Japan
- Singapore Mercantile Exchange
- PTC India Limited - India
- Mintek Dendrill Indonesia
- Sarangani Energy Corporation, Philippines
- Grasim Industreis Ltd - India
- Wood Mackenzie - Singapore
- Simpson Spence & Young - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Kaltim Prima Coal - Indonesia
- Eastern Coal Council - USA
- Africa Commodities Group - South Africa
- Samtan Co., Ltd - South Korea
- Karaikal Port Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Sindya Power Generating Company Private Ltd
- Savvy Resources Ltd - HongKong
- IEA Clean Coal Centre - UK
- Vedanta Resources Plc - India
- Metalloyd Limited - United Kingdom
- VISA Power Limited - India
- Price Waterhouse Coopers - Russia
- Central Java Power - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bharathi Cement Corporation - India
- Trasteel International SA, Italy
- Malabar Cements Ltd - India
- Borneo Indobara - Indonesia
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