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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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Thursday, 16 July 15
INDONESIA'S HBA HITS ALL-TIME LOW OF $59.16 PER METRIC TON IN JULY 2015
COALspot.com - The Director General of Mineral and Coal of Indonesia revised down Indonesian coal benchmark price once again to US$ 59.16 pe ...
Thursday, 16 July 15
FOB RICHARDS BAY COAL SWAPS DECLINE W-O-W, M-O-M
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$ ...
Wednesday, 15 July 15
WEEKLY SHIPPING MARKET INSIGHT - INTERMODAL
The last few weeks have been rather strenuous for Greece and China, each for their own reasons, affecting most markets around the world. In Greece ...
Wednesday, 15 July 15
IRAN OIL RECOVERY TO TAKE YEARS, BUT COULD START IN 2016 - FITCH
Iranian crude oil production is likely to increase in 2016 but will take a number of years to reach its previous peak, Fitch Ratings says.
The ...
Wednesday, 15 July 15
SAS TO BUILD 108 KM ROAD FOR COAL IN JAMBI, SAYS JAKARTA POST
Jambi Governor Hasan Basri Agus said on Sunday that mining company PT Sinar Anugerah Sukses (SAS) would develop a 108-kilometer road with a width o ...
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- Bharathi Cement Corporation - India
- Thai Mozambique Logistica
- GVK Power & Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- Gujarat Mineral Development Corp Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Merrill Lynch Commodities Europe
- Bukit Asam (Persero) Tbk - Indonesia
- Dalmia Cement Bharat India
- Vijayanagar Sugar Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Thiess Contractors Indonesia
- Manunggal Multi Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Global Business Power Corporation, Philippines
- Planning Commission, India
- Goldman Sachs - Singapore
- Lanco Infratech Ltd - India
- Agrawal Coal Company - India
- White Energy Company Limited
- Australian Commodity Traders Exchange
- Ambuja Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- Cement Manufacturers Association - India
- Deloitte Consulting - India
- Gujarat Sidhee Cement - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Borneo Indobara - Indonesia
- Larsen & Toubro Limited - India
- Minerals Council of Australia
- Madhucon Powers Ltd - India
- India Bulls Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Makarim & Taira - Indonesia
- European Bulk Services B.V. - Netherlands
- Chamber of Mines of South Africa
- Straits Asia Resources Limited - Singapore
- Mercuria Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Latin American Coal - Colombia
- Indian Oil Corporation Limited
- Petrochimia International Co. Ltd.- Taiwan
- Krishnapatnam Port Company Ltd. - India
- Mintek Dendrill Indonesia
- Port Waratah Coal Services - Australia
- Alfred C Toepfer International GmbH - Germany
- Sarangani Energy Corporation, Philippines
- McConnell Dowell - Australia
- Timah Investasi Mineral - Indoneisa
- Aditya Birla Group - India
- PNOC Exploration Corporation - Philippines
- Singapore Mercantile Exchange
- Karbindo Abesyapradhi - Indoneisa
- Attock Cement Pakistan Limited
- Parry Sugars Refinery, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Kalimantan Lumbung Energi - Indonesia
- Sical Logistics Limited - India
- SMC Global Power, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Romanian Commodities Exchange
- Bangladesh Power Developement Board
- MS Steel International - UAE
- Renaissance Capital - South Africa
- Sindya Power Generating Company Private Ltd
- Neyveli Lignite Corporation Ltd, - India
- Heidelberg Cement - Germany
- Jaiprakash Power Ventures ltd
- Bayan Resources Tbk. - Indonesia
- Aboitiz Power Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- Antam Resourcindo - Indonesia
- Formosa Plastics Group - Taiwan
- The University of Queensland
- Kepco SPC Power Corporation, Philippines
- Eastern Energy - Thailand
- Savvy Resources Ltd - HongKong
- Kideco Jaya Agung - Indonesia
- South Luzon Thermal Energy Corporation
- Essar Steel Hazira Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Australia Pty. Ltd.
- Maheswari Brothers Coal Limited - India
- Samtan Co., Ltd - South Korea
- Vedanta Resources Plc - India
- Electricity Generating Authority of Thailand
- TeaM Sual Corporation - Philippines
- Eastern Coal Council - USA
- Siam City Cement PLC, Thailand
- Price Waterhouse Coopers - Russia
- Energy Development Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Georgia Ports Authority, United States
- Miang Besar Coal Terminal - Indonesia
- Marubeni Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Sakthi Sugars Limited - India
- Indian Energy Exchange, India
- Coalindo Energy - Indonesia
- Standard Chartered Bank - UAE
- Intertek Mineral Services - Indonesia
- Ministry of Mines - Canada
- Parliament of New Zealand
- Bhatia International Limited - India
- Kaltim Prima Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- London Commodity Brokers - England
- Metalloyd Limited - United Kingdom
- Riau Bara Harum - Indonesia
- LBH Netherlands Bv - Netherlands
- Wood Mackenzie - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Uttam Galva Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- Star Paper Mills Limited - India
- Pendopo Energi Batubara - Indonesia
- Bukit Makmur.PT - Indonesia
- PTC India Limited - India
- Indogreen Group - Indonesia
- Electricity Authority, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Orica Mining Services - Indonesia
- Kobexindo Tractors - Indoneisa
- Videocon Industries ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- GN Power Mariveles Coal Plant, Philippines
- Petron Corporation, Philippines
- Altura Mining Limited, Indonesia
- OPG Power Generation Pvt Ltd - India
- Mjunction Services Limited - India
- Energy Link Ltd, New Zealand
- GMR Energy Limited - India
- Wilmar Investment Holdings
- Grasim Industreis Ltd - India
- The Treasury - Australian Government
- Rio Tinto Coal - Australia
- International Coal Ventures Pvt Ltd - India
- Indonesian Coal Mining Association
- Bhoruka Overseas - Indonesia
- Ind-Barath Power Infra Limited - India
- Sojitz Corporation - Japan
- Baramulti Group, Indonesia
- Malabar Cements Ltd - India
- The State Trading Corporation of India Ltd
- Barasentosa Lestari - Indonesia
- Meralco Power Generation, Philippines
- Indo Tambangraya Megah - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Banpu Public Company Limited - Thailand
- Central Electricity Authority - India
- ICICI Bank Limited - India
- GAC Shipping (India) Pvt Ltd
- Jindal Steel & Power Ltd - India
- Sree Jayajothi Cements Limited - India
- Mercator Lines Limited - India
- VISA Power Limited - India
- Edison Trading Spa - Italy
- Coal and Oil Company - UAE
- Vizag Seaport Private Limited - India
- Meenaskhi Energy Private Limited - India
- Kumho Petrochemical, South Korea
- Central Java Power - Indonesia
- IEA Clean Coal Centre - UK
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement - Thailand
- Global Coal Blending Company Limited - Australia
- Ministry of Transport, Egypt
- Iligan Light & Power Inc, Philippines
- Medco Energi Mining Internasional
- Power Finance Corporation Ltd., India
- Salva Resources Pvt Ltd - India
- Interocean Group of Companies - India
- Bhushan Steel Limited - India
- Ministry of Finance - Indonesia
- Tata Chemicals Ltd - India
- Anglo American - United Kingdom
- Xindia Steels Limited - India
- Africa Commodities Group - South Africa
- CIMB Investment Bank - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chettinad Cement Corporation Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Economic Council, Georgia
- San Jose City I Power Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- PowerSource Philippines DevCo
- Maharashtra Electricity Regulatory Commission - India
- Posco Energy - South Korea
- SN Aboitiz Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- New Zealand Coal & Carbon
- Ceylon Electricity Board - Sri Lanka
- Sinarmas Energy and Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Trasteel International SA, Italy
- CNBM International Corporation - China
- Kartika Selabumi Mining - Indonesia
- Oldendorff Carriers - Singapore
- Tamil Nadu electricity Board
- Independent Power Producers Association of India
- ASAPP Information Group - India
- Therma Luzon, Inc, Philippines
- Semirara Mining Corp, Philippines
- Indika Energy - Indonesia
- Australian Coal Association
- SMG Consultants - Indonesia
- Commonwealth Bank - Australia
- Carbofer General Trading SA - India
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