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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, 31 July 15
COAL PRODUCTION IN THE U.S. UP 3.6% FOR THE WEEK ENDING JULY 25
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 17.8 million shor ...
Friday, 31 July 15
CHINA'S NEW OIL IMPORT RULES HAVE MINIMAL IMPACT ON STATUS QUO - FITCH
Fitch Ratings says that China's looser criteria for crude oil import rights are a positive but modest step towards encouraging private-sector p ...
Thursday, 30 July 15
EFFECTS OF THE CHINESE STOCK MARKET CRISIS - INTERMODAL
All evidence is currently signaling that the Chinese stock market will be the newest hurdle for the global economy. With the world's second lar ...
Wednesday, 29 July 15
Q1'16 FOB INDONESIA COAL SWAP CLOSED HIGHER THAN Q3'15
COALspot.com: Indonesian coal swap for delivery Q3 2015 declined month on month and gains week over week, this past week.
The Q3 swap was decl ...
Wednesday, 29 July 15
Q4' 15 FOB RICHARDS BAY COAL SWAPS DECLINE 4.41% TO $56.52 PMT
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q3' 2015 declined month over month and week over week.
The Q3 swap was down US$ ...
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- Bhushan Steel Limited - India
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- Global Green Power PLC Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Marubeni Corporation - India
- New Zealand Coal & Carbon
- Gujarat Mineral Development Corp Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Iligan Light & Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Simpson Spence & Young - Indonesia
- SMG Consultants - Indonesia
- Attock Cement Pakistan Limited
- Energy Development Corp, Philippines
- Directorate Of Revenue Intelligence - India
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- Banpu Public Company Limited - Thailand
- Makarim & Taira - Indonesia
- Kaltim Prima Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Ministry of Finance - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Edison Trading Spa - Italy
- Electricity Authority, New Zealand
- PTC India Limited - India
- Directorate General of MIneral and Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
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- Agrawal Coal Company - India
- PowerSource Philippines DevCo
- Commonwealth Bank - Australia
- Billiton Holdings Pty Ltd - Australia
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- Indian Oil Corporation Limited
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- Siam City Cement PLC, Thailand
- Meralco Power Generation, Philippines
- Bayan Resources Tbk. - Indonesia
- Meenaskhi Energy Private Limited - India
- Madhucon Powers Ltd - India
- Savvy Resources Ltd - HongKong
- Heidelberg Cement - Germany
- Kapuas Tunggal Persada - Indonesia
- Therma Luzon, Inc, Philippines
- Power Finance Corporation Ltd., India
- Rio Tinto Coal - Australia
- Toyota Tsusho Corporation, Japan
- Parry Sugars Refinery, India
- Petrochimia International Co. Ltd.- Taiwan
- Miang Besar Coal Terminal - Indonesia
- Xindia Steels Limited - India
- Indian Energy Exchange, India
- PNOC Exploration Corporation - Philippines
- Bangladesh Power Developement Board
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- Coal and Oil Company - UAE
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- Jorong Barutama Greston.PT - Indonesia
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- Maheswari Brothers Coal Limited - India
- Mercuria Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Bulk Trading Sa - Switzerland
- Central Java Power - Indonesia
- CIMB Investment Bank - Malaysia
- Kobexindo Tractors - Indoneisa
- Oldendorff Carriers - Singapore
- IHS Mccloskey Coal Group - USA
- Kideco Jaya Agung - Indonesia
- Ind-Barath Power Infra Limited - India
- Riau Bara Harum - Indonesia
- Cement Manufacturers Association - India
- Bhoruka Overseas - Indonesia
- IEA Clean Coal Centre - UK
- Siam City Cement - Thailand
- Dalmia Cement Bharat India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sindya Power Generating Company Private Ltd
- Economic Council, Georgia
- Vizag Seaport Private Limited - India
- Thiess Contractors Indonesia
- White Energy Company Limited
- Baramulti Group, Indonesia
- Australian Commodity Traders Exchange
- Sical Logistics Limited - India
- GVK Power & Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Planning Commission, India
- VISA Power Limited - India
- Sree Jayajothi Cements Limited - India
- Petron Corporation, Philippines
- London Commodity Brokers - England
- Latin American Coal - Colombia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Grasim Industreis Ltd - India
- Antam Resourcindo - Indonesia
- Maharashtra Electricity Regulatory Commission - India
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- Aditya Birla Group - India
- Global Business Power Corporation, Philippines
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- PetroVietnam Power Coal Import and Supply Company
- Straits Asia Resources Limited - Singapore
- Africa Commodities Group - South Africa
- Intertek Mineral Services - Indonesia
- Orica Australia Pty. Ltd.
- Larsen & Toubro Limited - India
- The University of Queensland
- Sinarmas Energy and Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Lanco Infratech Ltd - India
- Global Coal Blending Company Limited - Australia
- Wilmar Investment Holdings
- Deloitte Consulting - India
- Singapore Mercantile Exchange
- Chettinad Cement Corporation Ltd - India
- Posco Energy - South Korea
- Malabar Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Indika Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Mintek Dendrill Indonesia
- Standard Chartered Bank - UAE
- Ministry of Transport, Egypt
- Minerals Council of Australia
- Parliament of New Zealand
- Salva Resources Pvt Ltd - India
- Romanian Commodities Exchange
- Tamil Nadu electricity Board
- GMR Energy Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Star Paper Mills Limited - India
- India Bulls Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Eastern Energy - Thailand
- Karaikal Port Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- The State Trading Corporation of India Ltd
- Kohat Cement Company Ltd. - Pakistan
- Leighton Contractors Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Medco Energi Mining Internasional
- Ceylon Electricity Board - Sri Lanka
- Indonesian Coal Mining Association
- Alfred C Toepfer International GmbH - Germany
- Manunggal Multi Energi - Indonesia
- Metalloyd Limited - United Kingdom
- Price Waterhouse Coopers - Russia
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Sidhee Cement - India
- Goldman Sachs - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Coal Council - USA
- Tata Chemicals Ltd - India
- Ministry of Mines - Canada
- GN Power Mariveles Coal Plant, Philippines
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- Bukit Makmur.PT - Indonesia
- Thai Mozambique Logistica
- Samtan Co., Ltd - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ICICI Bank Limited - India
- Indogreen Group - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- MS Steel International - UAE
- European Bulk Services B.V. - Netherlands
- Timah Investasi Mineral - Indoneisa
- Electricity Generating Authority of Thailand
- Bahari Cakrawala Sebuku - Indonesia
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- Australian Coal Association
- Pipit Mutiara Jaya. PT, Indonesia
- Trasteel International SA, Italy
- Barasentosa Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Central Electricity Authority - India
- Mercator Lines Limited - India
- Orica Mining Services - Indonesia
- Bhatia International Limited - India
- Wood Mackenzie - Singapore
- Uttam Galva Steels Limited - India
- CNBM International Corporation - China
- Coalindo Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Altura Mining Limited, Indonesia
- The Treasury - Australian Government
- Energy Link Ltd, New Zealand
- Georgia Ports Authority, United States
- Karbindo Abesyapradhi - Indoneisa
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- Chamber of Mines of South Africa
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