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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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Friday, 07 August 15
U.S. YEAR-TO-DATE COAL PRODUCTION TOTALED 528.1 MMST; DOWN 8.7% Y/Y - EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 17.7 million shor ...
Thursday, 06 August 15
THE RATES FOR CAPES SHOOT UP LAST WEEK; GIVING THIS RECENT RALLY SOME MUCH NEEDED LEGS - INTERMODAL
COALspot.com: The Dry Bulk market noted another positive closing last week, entirely supported by Capesize performance, which managed to balance th ...
Thursday, 06 August 15
HARD COAL AND COKE IMPORTS TO GERMANY REACH NEW ALL-TIME HIGH OF 56.2M TONES IN 2014
Demand for German and imported hard coal In 2014, in 2014 fell by almost 8%, or 4.8m TCE, to 56.2m TCE.
According to German Coal Importer ...
Thursday, 06 August 15
SEABORNE WORLD TRADE IN STEAM COAL GROWS BY 3% YOY - GERMAN COAL IMPORTER ASSOCIATION
Global trade with hard coal, at 1,272m tones in 2014, increased by 35m tonnes or 3% in comparison with the previous year.
According to associa ...
Wednesday, 05 August 15
SHIPPING MARKET INSIGHT - KATERINA RESTIS
On July 14th, 2015 a historical consensus was reached in Vienna between Iran and the five permanent members of the U.N. Security Council, plus Germ ...
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- Australian Commodity Traders Exchange
- Metalloyd Limited - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- Indian Oil Corporation Limited
- Planning Commission, India
- Billiton Holdings Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- LBH Netherlands Bv - Netherlands
- Georgia Ports Authority, United States
- Posco Energy - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- Medco Energi Mining Internasional
- Essar Steel Hazira Ltd - India
- Parliament of New Zealand
- Ceylon Electricity Board - Sri Lanka
- Heidelberg Cement - Germany
- Lanco Infratech Ltd - India
- Thiess Contractors Indonesia
- Marubeni Corporation - India
- Salva Resources Pvt Ltd - India
- Independent Power Producers Association of India
- Standard Chartered Bank - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Edison Trading Spa - Italy
- Energy Link Ltd, New Zealand
- European Bulk Services B.V. - Netherlands
- Australian Coal Association
- Gujarat Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Timah Investasi Mineral - Indoneisa
- Anglo American - United Kingdom
- Jaiprakash Power Ventures ltd
- Altura Mining Limited, Indonesia
- Parry Sugars Refinery, India
- Riau Bara Harum - Indonesia
- CIMB Investment Bank - Malaysia
- Renaissance Capital - South Africa
- Asmin Koalindo Tuhup - Indonesia
- Sree Jayajothi Cements Limited - India
- Gujarat Mineral Development Corp Ltd - India
- New Zealand Coal & Carbon
- GVK Power & Infra Limited - India
- Samtan Co., Ltd - South Korea
- GMR Energy Limited - India
- Leighton Contractors Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Manunggal Multi Energi - Indonesia
- Madhucon Powers Ltd - India
- Commonwealth Bank - Australia
- Ambuja Cements Ltd - India
- PowerSource Philippines DevCo
- Economic Council, Georgia
- Karaikal Port Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Singapore Mercantile Exchange
- Jorong Barutama Greston.PT - Indonesia
- Barasentosa Lestari - Indonesia
- Indian Energy Exchange, India
- Jindal Steel & Power Ltd - India
- Rio Tinto Coal - Australia
- SMC Global Power, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Mercator Lines Limited - India
- India Bulls Power Limited - India
- ASAPP Information Group - India
- IHS Mccloskey Coal Group - USA
- Coalindo Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bayan Resources Tbk. - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Grasim Industreis Ltd - India
- Bulk Trading Sa - Switzerland
- Central Java Power - Indonesia
- Kideco Jaya Agung - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Semirara Mining and Power Corporation, Philippines
- VISA Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Oldendorff Carriers - Singapore
- Romanian Commodities Exchange
- Thai Mozambique Logistica
- Tamil Nadu electricity Board
- IEA Clean Coal Centre - UK
- Central Electricity Authority - India
- Holcim Trading Pte Ltd - Singapore
- Orica Australia Pty. Ltd.
- Borneo Indobara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Binh Thuan Hamico - Vietnam
- Sindya Power Generating Company Private Ltd
- MS Steel International - UAE
- Aditya Birla Group - India
- Straits Asia Resources Limited - Singapore
- Mercuria Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Directorate Of Revenue Intelligence - India
- Therma Luzon, Inc, Philippines
- Wilmar Investment Holdings
- PetroVietnam Power Coal Import and Supply Company
- Bharathi Cement Corporation - India
- Cigading International Bulk Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Latin American Coal - Colombia
- Ind-Barath Power Infra Limited - India
- Maheswari Brothers Coal Limited - India
- San Jose City I Power Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Bhoruka Overseas - Indonesia
- Cement Manufacturers Association - India
- Kepco SPC Power Corporation, Philippines
- Ministry of Mines - Canada
- AsiaOL BioFuels Corp., Philippines
- PTC India Limited - India
- Meenaskhi Energy Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Star Paper Mills Limited - India
- Global Green Power PLC Corporation, Philippines
- Kumho Petrochemical, South Korea
- Ministry of Finance - Indonesia
- Globalindo Alam Lestari - Indonesia
- Trasteel International SA, Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhatia International Limited - India
- Deloitte Consulting - India
- Sakthi Sugars Limited - India
- Chamber of Mines of South Africa
- Orica Mining Services - Indonesia
- Global Business Power Corporation, Philippines
- Videocon Industries ltd - India
- McConnell Dowell - Australia
- Alfred C Toepfer International GmbH - Germany
- Tata Chemicals Ltd - India
- Uttam Galva Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- Electricity Generating Authority of Thailand
- CNBM International Corporation - China
- Larsen & Toubro Limited - India
- Semirara Mining Corp, Philippines
- Banpu Public Company Limited - Thailand
- Iligan Light & Power Inc, Philippines
- Indogreen Group - Indonesia
- Siam City Cement - Thailand
- International Coal Ventures Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Vijayanagar Sugar Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Coastal Gujarat Power Limited - India
- Kobexindo Tractors - Indoneisa
- Indonesian Coal Mining Association
- Bhushan Steel Limited - India
- Kartika Selabumi Mining - Indonesia
- Agrawal Coal Company - India
- Petrochimia International Co. Ltd.- Taiwan
- GAC Shipping (India) Pvt Ltd
- GN Power Mariveles Coal Plant, Philippines
- The State Trading Corporation of India Ltd
- Wood Mackenzie - Singapore
- Sarangani Energy Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Dalmia Cement Bharat India
- ICICI Bank Limited - India
- Bangladesh Power Developement Board
- Antam Resourcindo - Indonesia
- The Treasury - Australian Government
- Africa Commodities Group - South Africa
- Electricity Authority, New Zealand
- Sinarmas Energy and Mining - Indonesia
- Eastern Energy - Thailand
- Carbofer General Trading SA - India
- Gujarat Sidhee Cement - India
- Baramulti Group, Indonesia
- Ministry of Transport, Egypt
- The University of Queensland
- Xindia Steels Limited - India
- Meralco Power Generation, Philippines
- Bukit Makmur.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- Goldman Sachs - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Mintek Dendrill Indonesia
- Interocean Group of Companies - India
- Directorate General of MIneral and Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Makarim & Taira - Indonesia
- TeaM Sual Corporation - Philippines
- London Commodity Brokers - England
- Power Finance Corporation Ltd., India
- Petron Corporation, Philippines
- Attock Cement Pakistan Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Minerals Council of Australia
- Vedanta Resources Plc - India
- Indika Energy - Indonesia
- Sical Logistics Limited - India
- SMG Consultants - Indonesia
- Malabar Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Intertek Mineral Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mjunction Services Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Development Corp, Philippines
- Siam City Cement PLC, Thailand
- White Energy Company Limited
- Coal and Oil Company - UAE
- Eastern Coal Council - USA
- Sojitz Corporation - Japan
- Port Waratah Coal Services - Australia
- Vizag Seaport Private Limited - India
- Kaltim Prima Coal - Indonesia
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