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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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Sunday, 12 July 15
SHIPYARD NOT LIABLE FOR ENGINE ROOM FIRE CAUSED BY OIL LEAKAGE - BIRCH WINDAHL
KNOWLEDGE TO ELEVATE
A Danish vessel owner requested a Danish shipyard to undertake repairs and maintenance works on its vessel. An agreement ...
Saturday, 11 July 15
MAJOR IRANIAN GAS EXPORTS WILL TAKE AT LEAST FIVE YEARS - FITCH
Iran has the long-term potential to become one of the world's top gas producers, thanks to its 34 trillion cubic meters (tcm) of natural gas re ...
Friday, 10 July 15
DRY BULK MARKET KEEPS POSITIVE MOMENTUM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept its positive momentum over the course of the past few days, thanks to Panamax gains. During yesterday’s session ...
Friday, 10 July 15
U.S PRODUCED APPROXIMATELY TOTALED AN ESTIMATED 14.1 MMST WEEK OVER WEEK - EIA
COALspot.com – United States the second largest coal producer in the world has produced approximately totaled an estimated 14.1 million short ...
Thursday, 09 July 15
CPP MARKET : POSITIVE IN THE SHORT TERM - GEORGE VASTARDIS
Despite the traditionally quieter summer period, the clean tanker market has so far experienced healthy activity especially East of Suez. Increased ...
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- Central Electricity Authority - India
- Uttam Galva Steels Limited - India
- Interocean Group of Companies - India
- Sinarmas Energy and Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Rashtriya Ispat Nigam Limited - India
- Wood Mackenzie - Singapore
- Larsen & Toubro Limited - India
- Salva Resources Pvt Ltd - India
- Xindia Steels Limited - India
- Metalloyd Limited - United Kingdom
- SMC Global Power, Philippines
- Sarangani Energy Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Indogreen Group - Indonesia
- Samtan Co., Ltd - South Korea
- Thiess Contractors Indonesia
- Straits Asia Resources Limited - Singapore
- Riau Bara Harum - Indonesia
- Karaikal Port Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Maharashtra Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- VISA Power Limited - India
- Sakthi Sugars Limited - India
- Banpu Public Company Limited - Thailand
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining Corp, Philippines
- IHS Mccloskey Coal Group - USA
- CIMB Investment Bank - Malaysia
- Ind-Barath Power Infra Limited - India
- Barasentosa Lestari - Indonesia
- White Energy Company Limited
- Manunggal Multi Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Minerals Council of Australia
- Kaltim Prima Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Central Java Power - Indonesia
- LBH Netherlands Bv - Netherlands
- Siam City Cement - Thailand
- Therma Luzon, Inc, Philippines
- MS Steel International - UAE
- Kumho Petrochemical, South Korea
- Savvy Resources Ltd - HongKong
- Independent Power Producers Association of India
- Medco Energi Mining Internasional
- IEA Clean Coal Centre - UK
- Ministry of Transport, Egypt
- International Coal Ventures Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Antam Resourcindo - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tata Chemicals Ltd - India
- CNBM International Corporation - China
- PNOC Exploration Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Mercator Lines Limited - India
- Meenaskhi Energy Private Limited - India
- Vedanta Resources Plc - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Grasim Industreis Ltd - India
- Globalindo Alam Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Parry Sugars Refinery, India
- Intertek Mineral Services - Indonesia
- Iligan Light & Power Inc, Philippines
- India Bulls Power Limited - India
- South Luzon Thermal Energy Corporation
- Goldman Sachs - Singapore
- European Bulk Services B.V. - Netherlands
- London Commodity Brokers - England
- Karbindo Abesyapradhi - Indoneisa
- San Jose City I Power Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Eastern Coal Council - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Africa Commodities Group - South Africa
- Videocon Industries ltd - India
- Edison Trading Spa - Italy
- Electricity Authority, New Zealand
- GMR Energy Limited - India
- Singapore Mercantile Exchange
- Jorong Barutama Greston.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Indika Energy - Indonesia
- Tamil Nadu electricity Board
- Vizag Seaport Private Limited - India
- Romanian Commodities Exchange
- Kartika Selabumi Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Bukit Makmur.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sical Logistics Limited - India
- Global Business Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Dalmia Cement Bharat India
- Trasteel International SA, Italy
- Eastern Energy - Thailand
- Baramulti Group, Indonesia
- Orica Mining Services - Indonesia
- Attock Cement Pakistan Limited
- Kohat Cement Company Ltd. - Pakistan
- Cigading International Bulk Terminal - Indonesia
- Indian Oil Corporation Limited
- New Zealand Coal & Carbon
- Sojitz Corporation - Japan
- Rio Tinto Coal - Australia
- Gujarat Mineral Development Corp Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The State Trading Corporation of India Ltd
- Carbofer General Trading SA - India
- GVK Power & Infra Limited - India
- PTC India Limited - India
- TeaM Sual Corporation - Philippines
- Energy Link Ltd, New Zealand
- Malabar Cements Ltd - India
- Heidelberg Cement - Germany
- SMG Consultants - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Indian Energy Exchange, India
- Semirara Mining and Power Corporation, Philippines
- Deloitte Consulting - India
- Energy Development Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Bhatia International Limited - India
- Holcim Trading Pte Ltd - Singapore
- Meralco Power Generation, Philippines
- Kepco SPC Power Corporation, Philippines
- Parliament of New Zealand
- Lanco Infratech Ltd - India
- Pendopo Energi Batubara - Indonesia
- Australian Commodity Traders Exchange
- GN Power Mariveles Coal Plant, Philippines
- Madhucon Powers Ltd - India
- Australian Coal Association
- Borneo Indobara - Indonesia
- Ministry of Mines - Canada
- Makarim & Taira - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Coalindo Energy - Indonesia
- McConnell Dowell - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Aditya Birla Group - India
- PowerSource Philippines DevCo
- Bank of Tokyo Mitsubishi UFJ Ltd
- Krishnapatnam Port Company Ltd. - India
- Commonwealth Bank - Australia
- Indo Tambangraya Megah - Indonesia
- Formosa Plastics Group - Taiwan
- Gujarat Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Bangladesh Power Developement Board
- Bharathi Cement Corporation - India
- Chamber of Mines of South Africa
- Georgia Ports Authority, United States
- Mercuria Energy - Indonesia
- Port Waratah Coal Services - Australia
- Neyveli Lignite Corporation Ltd, - India
- Timah Investasi Mineral - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Mintek Dendrill Indonesia
- Marubeni Corporation - India
- Agrawal Coal Company - India
- Jaiprakash Power Ventures ltd
- Planning Commission, India
- Oldendorff Carriers - Singapore
- Simpson Spence & Young - Indonesia
- Gujarat Sidhee Cement - India
- Ambuja Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- Anglo American - United Kingdom
- Orica Australia Pty. Ltd.
- Thai Mozambique Logistica
- Mjunction Services Limited - India
- Economic Council, Georgia
- Chettinad Cement Corporation Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- ASAPP Information Group - India
- Siam City Cement PLC, Thailand
- OPG Power Generation Pvt Ltd - India
- Cement Manufacturers Association - India
- Aboitiz Power Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- The Treasury - Australian Government
- PetroVietnam Power Coal Import and Supply Company
- Standard Chartered Bank - UAE
- Alfred C Toepfer International GmbH - Germany
- ICICI Bank Limited - India
- Petron Corporation, Philippines
- Coal and Oil Company - UAE
- Merrill Lynch Commodities Europe
- Coastal Gujarat Power Limited - India
- Wilmar Investment Holdings
- Indonesian Coal Mining Association
- Bulk Trading Sa - Switzerland
- Petrochimia International Co. Ltd.- Taiwan
- Star Paper Mills Limited - India
- Global Coal Blending Company Limited - Australia
- Price Waterhouse Coopers - Russia
- The University of Queensland
- Kideco Jaya Agung - Indonesia
- Power Finance Corporation Ltd., India
- Bhushan Steel Limited - India
- Ministry of Finance - Indonesia
- Posco Energy - South Korea
- Renaissance Capital - South Africa
- Bhoruka Overseas - Indonesia
- Maheswari Brothers Coal Limited - India
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