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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, 03 August 15
NEWCASTLE COAL SWAPS DECLINE FURTHER THIS PAST WEEK
COALspot.com: API 5 FOB Newcastle Coal swap for 4Q’ 2015 delivery down $ 1.92 per MT (-4.22%) month over month to US$ 43.58 per mt. The swap ...
Monday, 03 August 15
CFR SOUTH CHINA COAL SWAPS SLIDE THIS WEEK
COALspot.com: API 8 CFR South China Coal swap for 4Q’ 2015 delivery declined US$ 1.64 (3.14%) per MT month over month.
A commodity swap ...
Sunday, 02 August 15
CAPESIZE RATES PUSH BDI UPWARD
COALspot.com: The freight market was buoyant this week as BDI rose 4.14 pct to 1131 points. The cape index was also increased 16.50 pct 2209 points ...
Saturday, 01 August 15
DRY BULK MARKET KEEPS ITS MOMENTUM, AS OUTLOOK IMPROVES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Although conditions remain more than challenging, especially from an economic point of view (aka China’s stock worries), the dry bulk market ...
Friday, 31 July 15
CAPE'S PAPER MARKET REMAINS FIRM - INTERMODAL
COALspot.com: The positive sentiment that the Dry Bulk market has been enjoying as of the previous month, was carried through last week as well, bu ...
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- White Energy Company Limited
- Altura Mining Limited, Indonesia
- Xindia Steels Limited - India
- Eastern Energy - Thailand
- Parliament of New Zealand
- Carbofer General Trading SA - India
- Savvy Resources Ltd - HongKong
- LBH Netherlands Bv - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- Tata Chemicals Ltd - India
- CIMB Investment Bank - Malaysia
- Cigading International Bulk Terminal - Indonesia
- Indika Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Aditya Birla Group - India
- Asmin Koalindo Tuhup - Indonesia
- European Bulk Services B.V. - Netherlands
- Bhatia International Limited - India
- Cement Manufacturers Association - India
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Coal Association
- Kartika Selabumi Mining - Indonesia
- Mercuria Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Holcim Trading Pte Ltd - Singapore
- Singapore Mercantile Exchange
- Trasteel International SA, Italy
- Alfred C Toepfer International GmbH - Germany
- Bukit Baiduri Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- ASAPP Information Group - India
- Neyveli Lignite Corporation Ltd, - India
- Rashtriya Ispat Nigam Limited - India
- Goldman Sachs - Singapore
- Global Business Power Corporation, Philippines
- MS Steel International - UAE
- Baramulti Group, Indonesia
- Ministry of Mines - Canada
- Videocon Industries ltd - India
- Oldendorff Carriers - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Intertek Mineral Services - Indonesia
- Aboitiz Power Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Australian Commodity Traders Exchange
- SN Aboitiz Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Semirara Mining and Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Latin American Coal - Colombia
- Tamil Nadu electricity Board
- GMR Energy Limited - India
- International Coal Ventures Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Global Green Power PLC Corporation, Philippines
- Siam City Cement - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Power Finance Corporation Ltd., India
- Indo Tambangraya Megah - Indonesia
- Chamber of Mines of South Africa
- Attock Cement Pakistan Limited
- Banpu Public Company Limited - Thailand
- Antam Resourcindo - Indonesia
- Metalloyd Limited - United Kingdom
- Posco Energy - South Korea
- Agrawal Coal Company - India
- Orica Mining Services - Indonesia
- Malabar Cements Ltd - India
- SMG Consultants - Indonesia
- Marubeni Corporation - India
- South Luzon Thermal Energy Corporation
- Romanian Commodities Exchange
- Lanco Infratech Ltd - India
- Rio Tinto Coal - Australia
- Independent Power Producers Association of India
- Ministry of Transport, Egypt
- SMC Global Power, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining Corp, Philippines
- The University of Queensland
- Kalimantan Lumbung Energi - Indonesia
- Thai Mozambique Logistica
- New Zealand Coal & Carbon
- Miang Besar Coal Terminal - Indonesia
- Electricity Authority, New Zealand
- Eastern Coal Council - USA
- Ceylon Electricity Board - Sri Lanka
- Planning Commission, India
- Karaikal Port Pvt Ltd - India
- Indian Energy Exchange, India
- CNBM International Corporation - China
- Larsen & Toubro Limited - India
- VISA Power Limited - India
- Wood Mackenzie - Singapore
- Maheswari Brothers Coal Limited - India
- Jorong Barutama Greston.PT - Indonesia
- McConnell Dowell - Australia
- Grasim Industreis Ltd - India
- Minerals Council of Australia
- Bhushan Steel Limited - India
- Kepco SPC Power Corporation, Philippines
- London Commodity Brokers - England
- Maharashtra Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Heidelberg Cement - Germany
- Essar Steel Hazira Ltd - India
- Mjunction Services Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Bulk Trading Sa - Switzerland
- Wilmar Investment Holdings
- Parry Sugars Refinery, India
- Energy Link Ltd, New Zealand
- Bharathi Cement Corporation - India
- Interocean Group of Companies - India
- Central Electricity Authority - India
- Makarim & Taira - Indonesia
- Renaissance Capital - South Africa
- Billiton Holdings Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Merrill Lynch Commodities Europe
- Sakthi Sugars Limited - India
- Thiess Contractors Indonesia
- OPG Power Generation Pvt Ltd - India
- Bangladesh Power Developement Board
- India Bulls Power Limited - India
- TeaM Sual Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Sical Logistics Limited - India
- Sree Jayajothi Cements Limited - India
- Anglo American - United Kingdom
- IHS Mccloskey Coal Group - USA
- Energy Development Corp, Philippines
- Gujarat Sidhee Cement - India
- Electricity Generating Authority of Thailand
- Mintek Dendrill Indonesia
- Bayan Resources Tbk. - Indonesia
- Kideco Jaya Agung - Indonesia
- PTC India Limited - India
- Salva Resources Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- The State Trading Corporation of India Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Oil Corporation Limited
- Dalmia Cement Bharat India
- Ministry of Finance - Indonesia
- Directorate Of Revenue Intelligence - India
- Sindya Power Generating Company Private Ltd
- Coalindo Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Vizag Seaport Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Therma Luzon, Inc, Philippines
- Georgia Ports Authority, United States
- Formosa Plastics Group - Taiwan
- Standard Chartered Bank - UAE
- Madhucon Powers Ltd - India
- Pendopo Energi Batubara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Deloitte Consulting - India
- GAC Shipping (India) Pvt Ltd
- Commonwealth Bank - Australia
- Jindal Steel & Power Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Meenaskhi Energy Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Mineral Development Corp Ltd - India
- Star Paper Mills Limited - India
- PowerSource Philippines DevCo
- Indogreen Group - Indonesia
- ICICI Bank Limited - India
- Vedanta Resources Plc - India
- Economic Council, Georgia
- Timah Investasi Mineral - Indoneisa
- Central Java Power - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Coal Blending Company Limited - Australia
- Ambuja Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IEA Clean Coal Centre - UK
- Petron Corporation, Philippines
- Indonesian Coal Mining Association
- Karbindo Abesyapradhi - Indoneisa
- GVK Power & Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Edison Trading Spa - Italy
- Barasentosa Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- Jaiprakash Power Ventures ltd
- Africa Commodities Group - South Africa
- Siam City Cement PLC, Thailand
- Leighton Contractors Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- The Treasury - Australian Government
- Sojitz Corporation - Japan
- Meralco Power Generation, Philippines
- Bhoruka Overseas - Indonesia
- Samtan Co., Ltd - South Korea
- Medco Energi Mining Internasional
- Uttam Galva Steels Limited - India
- Borneo Indobara - Indonesia
- Port Waratah Coal Services - Australia
- Sinarmas Energy and Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercator Lines Limited - India
- Coastal Gujarat Power Limited - India
- Riau Bara Harum - Indonesia
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