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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, 09 July 15
LACK OF FRESH BUSINESS IN THE PACIFIC LEFT CAPESIZE RATES MOVING SIDEWAYS - INTERMODAL
COALspot.com: Intermodal ship broker says in its weekly report that, a different picture from what we saw the previous week was painted during the ...
Wednesday, 08 July 15
RIO TINTO'S MODERNISED KITIMAT SMELTER BEGINS PRODUCTION; KITIMAT BECOMING ONE OF THE LOWEST COST SMELTERS IN THE WORLD
COALspot.com: Rio Tinto is preparing its first shipments of metal from its world-class Kitimat aluminium smelter in Canada following an extensive m ...
Wednesday, 08 July 15
Q3'15 INDONESIA COAL SWAP DECLINED 3.14% MONTH OVER MONTH
COALspot.com: Indonesian coal swap for delivery Q3 2015 declined month on month and week over week, this past week.
The Q3 swap was declined $ ...
Tuesday, 07 July 15
FOB RICHARDS BAY COAL SWAPS DECLINED WEEK OVER WEEK
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$ ...
Tuesday, 07 July 15
FOB NEWCASTLE COAL SWAP ADVANCED MONTH OVER MONTH
COALspot.com: API 5 FOB Newcastle Coal swap for Q3’ 2015 delivery up $ 0.28 per MT (-0.61%) month over month to US$ 45.85 per mt. The swap wa ...
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- Wood Mackenzie - Singapore
- Vedanta Resources Plc - India
- Kepco SPC Power Corporation, Philippines
- The Treasury - Australian Government
- Grasim Industreis Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Jindal Steel & Power Ltd - India
- Petron Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Transport, Egypt
- Banpu Public Company Limited - Thailand
- The University of Queensland
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Link Ltd, New Zealand
- McConnell Dowell - Australia
- Simpson Spence & Young - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Makarim & Taira - Indonesia
- Africa Commodities Group - South Africa
- Bukit Makmur.PT - Indonesia
- Baramulti Group, Indonesia
- Mercator Lines Limited - India
- Renaissance Capital - South Africa
- Oldendorff Carriers - Singapore
- Samtan Co., Ltd - South Korea
- Metalloyd Limited - United Kingdom
- Salva Resources Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pipit Mutiara Jaya. PT, Indonesia
- Goldman Sachs - Singapore
- Indian Oil Corporation Limited
- Port Waratah Coal Services - Australia
- Binh Thuan Hamico - Vietnam
- Orica Australia Pty. Ltd.
- International Coal Ventures Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Posco Energy - South Korea
- Merrill Lynch Commodities Europe
- Parry Sugars Refinery, India
- Commonwealth Bank - Australia
- GN Power Mariveles Coal Plant, Philippines
- Chettinad Cement Corporation Ltd - India
- GAC Shipping (India) Pvt Ltd
- Meenaskhi Energy Private Limited - India
- Singapore Mercantile Exchange
- Bhatia International Limited - India
- Power Finance Corporation Ltd., India
- Sakthi Sugars Limited - India
- Sical Logistics Limited - India
- Aditya Birla Group - India
- Miang Besar Coal Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Carbofer General Trading SA - India
- Global Business Power Corporation, Philippines
- PTC India Limited - India
- Semirara Mining Corp, Philippines
- Mercuria Energy - Indonesia
- Larsen & Toubro Limited - India
- Minerals Council of Australia
- Indonesian Coal Mining Association
- Coal and Oil Company - UAE
- Interocean Group of Companies - India
- Sarangani Energy Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Heidelberg Cement - Germany
- IHS Mccloskey Coal Group - USA
- South Luzon Thermal Energy Corporation
- Jaiprakash Power Ventures ltd
- Indogreen Group - Indonesia
- India Bulls Power Limited - India
- CNBM International Corporation - China
- Coastal Gujarat Power Limited - India
- Dalmia Cement Bharat India
- Central Java Power - Indonesia
- Semirara Mining and Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Orica Mining Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Georgia Ports Authority, United States
- Krishnapatnam Port Company Ltd. - India
- Sojitz Corporation - Japan
- Directorate Of Revenue Intelligence - India
- Standard Chartered Bank - UAE
- LBH Netherlands Bv - Netherlands
- Xindia Steels Limited - India
- Thiess Contractors Indonesia
- Medco Energi Mining Internasional
- Bukit Baiduri Energy - Indonesia
- Thai Mozambique Logistica
- IEA Clean Coal Centre - UK
- Attock Cement Pakistan Limited
- Pendopo Energi Batubara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Siam City Cement - Thailand
- Rio Tinto Coal - Australia
- Directorate General of MIneral and Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Economic Council, Georgia
- Ministry of Mines - Canada
- Electricity Generating Authority of Thailand
- Siam City Cement PLC, Thailand
- Antam Resourcindo - Indonesia
- Ind-Barath Power Infra Limited - India
- Bhushan Steel Limited - India
- Mjunction Services Limited - India
- Toyota Tsusho Corporation, Japan
- Kumho Petrochemical, South Korea
- Barasentosa Lestari - Indonesia
- SMG Consultants - Indonesia
- Mintek Dendrill Indonesia
- Savvy Resources Ltd - HongKong
- Independent Power Producers Association of India
- Manunggal Multi Energi - Indonesia
- Vizag Seaport Private Limited - India
- SN Aboitiz Power Inc, Philippines
- GVK Power & Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Price Waterhouse Coopers - Russia
- Marubeni Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Agrawal Coal Company - India
- Timah Investasi Mineral - Indoneisa
- Trasteel International SA, Italy
- Holcim Trading Pte Ltd - Singapore
- CIMB Investment Bank - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Chamber of Mines of South Africa
- Australian Coal Association
- Altura Mining Limited, Indonesia
- Intertek Mineral Services - Indonesia
- MS Steel International - UAE
- PetroVietnam Power Coal Import and Supply Company
- Coalindo Energy - Indonesia
- Tamil Nadu electricity Board
- Anglo American - United Kingdom
- GMR Energy Limited - India
- Ministry of Finance - Indonesia
- VISA Power Limited - India
- Romanian Commodities Exchange
- Planning Commission, India
- Eastern Coal Council - USA
- Parliament of New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- White Energy Company Limited
- Wilmar Investment Holdings
- Uttam Galva Steels Limited - India
- ICICI Bank Limited - India
- Formosa Plastics Group - Taiwan
- San Jose City I Power Corp, Philippines
- Lanco Infratech Ltd - India
- Indika Energy - Indonesia
- New Zealand Coal & Carbon
- Cement Manufacturers Association - India
- Kapuas Tunggal Persada - Indonesia
- Meralco Power Generation, Philippines
- Ambuja Cements Ltd - India
- ASAPP Information Group - India
- Asmin Koalindo Tuhup - Indonesia
- Kaltim Prima Coal - Indonesia
- Edison Trading Spa - Italy
- Iligan Light & Power Inc, Philippines
- Star Paper Mills Limited - India
- Indian Energy Exchange, India
- The State Trading Corporation of India Ltd
- Malabar Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Kartika Selabumi Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Aboitiz Power Corporation - Philippines
- Bharathi Cement Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Sidhee Cement - India
- Straits Asia Resources Limited - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Madhucon Powers Ltd - India
- Tata Chemicals Ltd - India
- Australian Commodity Traders Exchange
- Latin American Coal - Colombia
- Gujarat Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Maheswari Brothers Coal Limited - India
- Indo Tambangraya Megah - Indonesia
- Alfred C Toepfer International GmbH - Germany
- TeaM Sual Corporation - Philippines
- PowerSource Philippines DevCo
- Globalindo Alam Lestari - Indonesia
- Deloitte Consulting - India
- Electricity Authority, New Zealand
- Essar Steel Hazira Ltd - India
- Bulk Trading Sa - Switzerland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bahari Cakrawala Sebuku - Indonesia
- OPG Power Generation Pvt Ltd - India
- Borneo Indobara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Green Power PLC Corporation, Philippines
- Videocon Industries ltd - India
- Ceylon Electricity Board - Sri Lanka
- Billiton Holdings Pty Ltd - Australia
- Bangladesh Power Developement Board
- Kobexindo Tractors - Indoneisa
- Eastern Energy - Thailand
- Central Electricity Authority - India
- Sree Jayajothi Cements Limited - India
- London Commodity Brokers - England
- SMC Global Power, Philippines
- Energy Development Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
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