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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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Wednesday, 05 August 15
COAL CONSUMPTION POSTED THE STRONGEST GROWTH AMONG THE FOSSIL ENERGY SOURCES IN 2014 - VDKI
Coal 2014: again the world's fastest-growing primary energy source and an indispensable asset for the success of the energy turnaround.
Ac ...
Wednesday, 05 August 15
FOB INDONESIA THERMAL COAL SWAPS FALL
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 $ ...
Wednesday, 05 August 15
DRY BULKER PRICES START TO FIRM UP AS MARKET SENTIMENT IMPROVES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Market pessimism in the dry bulk industry, a trend which had established itself over the course of the year, has started to fade away over the past ...
Tuesday, 04 August 15
FOB RICHARDS BAY COAL SWAPS CONTINUE TO FALL DUE TO SLIDING DEMAND
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, 04 August 15
SHIPPING CYCLES - A CHESS GAME YOU DON'T WANT TO LOSE - CLARKSONS
Ingmar Bergman’s classic movie The Seventh Seal is about a knight who, during the Black Death, challenges Death to a chess match, in the hope ...
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- CIMB Investment Bank - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Larsen & Toubro Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Chamber of Mines of South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meenaskhi Energy Private Limited - India
- Carbofer General Trading SA - India
- Tamil Nadu electricity Board
- Electricity Generating Authority of Thailand
- GAC Shipping (India) Pvt Ltd
- Interocean Group of Companies - India
- Australian Coal Association
- Rashtriya Ispat Nigam Limited - India
- Kumho Petrochemical, South Korea
- Africa Commodities Group - South Africa
- Vizag Seaport Private Limited - India
- Latin American Coal - Colombia
- Madhucon Powers Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Ministry of Transport, Egypt
- Ind-Barath Power Infra Limited - India
- Bharathi Cement Corporation - India
- Makarim & Taira - Indonesia
- Posco Energy - South Korea
- Indika Energy - Indonesia
- Sakthi Sugars Limited - India
- Intertek Mineral Services - Indonesia
- Goldman Sachs - Singapore
- Timah Investasi Mineral - Indoneisa
- Romanian Commodities Exchange
- Leighton Contractors Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Orica Mining Services - Indonesia
- Electricity Authority, New Zealand
- Orica Australia Pty. Ltd.
- Salva Resources Pvt Ltd - India
- CNBM International Corporation - China
- Energy Development Corp, Philippines
- Renaissance Capital - South Africa
- Indian Energy Exchange, India
- OPG Power Generation Pvt Ltd - India
- Standard Chartered Bank - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Oil Corporation Limited
- Dalmia Cement Bharat India
- The State Trading Corporation of India Ltd
- Aditya Birla Group - India
- Borneo Indobara - Indonesia
- Ambuja Cements Ltd - India
- Trasteel International SA, Italy
- Cement Manufacturers Association - India
- New Zealand Coal & Carbon
- Maheswari Brothers Coal Limited - India
- IHS Mccloskey Coal Group - USA
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Kapuas Tunggal Persada - Indonesia
- Kideco Jaya Agung - Indonesia
- Rio Tinto Coal - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bhushan Steel Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Anglo American - United Kingdom
- Metalloyd Limited - United Kingdom
- Chettinad Cement Corporation Ltd - India
- Tata Chemicals Ltd - India
- Coal and Oil Company - UAE
- Simpson Spence & Young - Indonesia
- Coastal Gujarat Power Limited - India
- Attock Cement Pakistan Limited
- Vedanta Resources Plc - India
- PTC India Limited - India
- Savvy Resources Ltd - HongKong
- Thiess Contractors Indonesia
- Sojitz Corporation - Japan
- Riau Bara Harum - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Thai Mozambique Logistica
- Bulk Trading Sa - Switzerland
- Cigading International Bulk Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Mines - Canada
- Marubeni Corporation - India
- Meralco Power Generation, Philippines
- Energy Link Ltd, New Zealand
- PowerSource Philippines DevCo
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indo Tambangraya Megah - Indonesia
- Formosa Plastics Group - Taiwan
- London Commodity Brokers - England
- LBH Netherlands Bv - Netherlands
- Pendopo Energi Batubara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Iligan Light & Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Xindia Steels Limited - India
- The University of Queensland
- Samtan Co., Ltd - South Korea
- Power Finance Corporation Ltd., India
- Singapore Mercantile Exchange
- Toyota Tsusho Corporation, Japan
- Altura Mining Limited, Indonesia
- Bukit Makmur.PT - Indonesia
- Antam Resourcindo - Indonesia
- International Coal Ventures Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Aboitiz Power Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- European Bulk Services B.V. - Netherlands
- Siam City Cement - Thailand
- White Energy Company Limited
- Krishnapatnam Port Company Ltd. - India
- Central Electricity Authority - India
- Mercator Lines Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Indogreen Group - Indonesia
- Baramulti Group, Indonesia
- Therma Luzon, Inc, Philippines
- Commonwealth Bank - Australia
- Holcim Trading Pte Ltd - Singapore
- Binh Thuan Hamico - Vietnam
- Sical Logistics Limited - India
- Bangladesh Power Developement Board
- Heidelberg Cement - Germany
- Asmin Koalindo Tuhup - Indonesia
- PNOC Exploration Corporation - Philippines
- Wood Mackenzie - Singapore
- Kaltim Prima Coal - Indonesia
- Ministry of Finance - Indonesia
- Deloitte Consulting - India
- Parliament of New Zealand
- ASAPP Information Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Miang Besar Coal Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Global Green Power PLC Corporation, Philippines
- MS Steel International - UAE
- Ceylon Electricity Board - Sri Lanka
- Mjunction Services Limited - India
- Siam City Cement PLC, Thailand
- IEA Clean Coal Centre - UK
- GVK Power & Infra Limited - India
- Merrill Lynch Commodities Europe
- Eastern Coal Council - USA
- SMC Global Power, Philippines
- Medco Energi Mining Internasional
- Petrochimia International Co. Ltd.- Taiwan
- Global Coal Blending Company Limited - Australia
- ICICI Bank Limited - India
- Minerals Council of Australia
- Bayan Resources Tbk. - Indonesia
- Kartika Selabumi Mining - Indonesia
- The Treasury - Australian Government
- Agrawal Coal Company - India
- GMR Energy Limited - India
- Economic Council, Georgia
- Jaiprakash Power Ventures ltd
- Barasentosa Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- India Bulls Power Limited - India
- McConnell Dowell - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Independent Power Producers Association of India
- Globalindo Alam Lestari - Indonesia
- Coalindo Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Edison Trading Spa - Italy
- Indonesian Coal Mining Association
- Billiton Holdings Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- Wilmar Investment Holdings
- Malabar Cements Ltd - India
- Central Java Power - Indonesia
- VISA Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Georgia Ports Authority, United States
- Directorate Of Revenue Intelligence - India
- Sarangani Energy Corporation, Philippines
- Grasim Industreis Ltd - India
- Mintek Dendrill Indonesia
- Karbindo Abesyapradhi - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Bhatia International Limited - India
- Sinarmas Energy and Mining - Indonesia
- Mercuria Energy - Indonesia
- Lanco Infratech Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMG Consultants - Indonesia
- Jindal Steel & Power Ltd - India
- Star Paper Mills Limited - India
- Parry Sugars Refinery, India
- Gujarat Mineral Development Corp Ltd - India
- Planning Commission, India
- TeaM Sual Corporation - Philippines
- Australian Commodity Traders Exchange
- Sindya Power Generating Company Private Ltd
- Gujarat Sidhee Cement - India
- Eastern Energy - Thailand
- Global Business Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Videocon Industries ltd - India
- Sree Jayajothi Cements Limited - India
- Petron Corporation, Philippines
- Bhoruka Overseas - Indonesia
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