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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, 03 July 15
SHIPPING CONFIDENCE EQUALS SEVEN-YEAR LOW - MOORE STEPHENS
Overall confidence levels in the shipping industry fell during the three months to May 2015 to a level equal to the lowest rating recorded in the p ...
Thursday, 02 July 15
TECHNOLOGY AND INNOVATION IN MINING 2015 - IXG
Information Exchange Group’s Technology and Innovation in Mining 2015- International Summit on Mining
Press Release: The inaugural editi ...
Thursday, 02 July 15
THE PERFORMANCE OF THE CAPESIZE SEGMENT PUSHED DRY BULK MARKET TO UPWARD LAST WEEK
COALspot.com: The Dry Bulk market continued its upward movement last week, with the BDI closing off on Friday (26 June) in excess of 800 points, wh ...
Wednesday, 01 July 15
Q4'15 AND Q1'16 FOB RICHARDS BAY COAL SWAPS ROSE W-O-W AND M-O-M
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q3' 2015 rose month over month and down week over week.
The Q3 swap was up US$ ...
Wednesday, 01 July 15
BEIJING HAS OFFICIALLY EXTENDED BY TWO YEARS ITS SUBSIDY PROGRAM TO SUPPORT LOCAL SHIPPING COMPANIES IN SCRAPPING THEIR OLD TONNAGE - INTERMODAL
Last week, Beijing has officially extended by two years its subsidy program to support local shipping companies in scrapping their old tonnage in w ...
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- Kepco SPC Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Mercator Lines Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMC Global Power, Philippines
- Georgia Ports Authority, United States
- SN Aboitiz Power Inc, Philippines
- Eastern Coal Council - USA
- PetroVietnam Power Coal Import and Supply Company
- Agrawal Coal Company - India
- Bulk Trading Sa - Switzerland
- Minerals Council of Australia
- Tamil Nadu electricity Board
- LBH Netherlands Bv - Netherlands
- Indo Tambangraya Megah - Indonesia
- Bukit Makmur.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- The Treasury - Australian Government
- Port Waratah Coal Services - Australia
- Independent Power Producers Association of India
- Pipit Mutiara Jaya. PT, Indonesia
- OPG Power Generation Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Bhatia International Limited - India
- Sojitz Corporation - Japan
- Straits Asia Resources Limited - Singapore
- GVK Power & Infra Limited - India
- European Bulk Services B.V. - Netherlands
- Chamber of Mines of South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Trasteel International SA, Italy
- Cement Manufacturers Association - India
- Globalindo Alam Lestari - Indonesia
- Africa Commodities Group - South Africa
- Malabar Cements Ltd - India
- Posco Energy - South Korea
- Electricity Generating Authority of Thailand
- Commonwealth Bank - Australia
- Gujarat Mineral Development Corp Ltd - India
- Mercuria Energy - Indonesia
- Ministry of Mines - Canada
- Ind-Barath Power Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Dalmia Cement Bharat India
- Sakthi Sugars Limited - India
- New Zealand Coal & Carbon
- Energy Development Corp, Philippines
- Barasentosa Lestari - Indonesia
- Madhucon Powers Ltd - India
- Global Green Power PLC Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Coal and Oil Company - UAE
- Kumho Petrochemical, South Korea
- Indogreen Group - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Interocean Group of Companies - India
- SMG Consultants - Indonesia
- Miang Besar Coal Terminal - Indonesia
- VISA Power Limited - India
- MS Steel International - UAE
- Directorate General of MIneral and Coal - Indonesia
- McConnell Dowell - Australia
- Meenaskhi Energy Private Limited - India
- Mintek Dendrill Indonesia
- Manunggal Multi Energi - Indonesia
- Rio Tinto Coal - Australia
- Kideco Jaya Agung - Indonesia
- Pendopo Energi Batubara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Wood Mackenzie - Singapore
- Heidelberg Cement - Germany
- Iligan Light & Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Maheswari Brothers Coal Limited - India
- Semirara Mining Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Banpu Public Company Limited - Thailand
- Grasim Industreis Ltd - India
- Renaissance Capital - South Africa
- ASAPP Information Group - India
- Coastal Gujarat Power Limited - India
- Xindia Steels Limited - India
- Borneo Indobara - Indonesia
- Tata Chemicals Ltd - India
- Simpson Spence & Young - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhoruka Overseas - Indonesia
- Global Coal Blending Company Limited - Australia
- Kobexindo Tractors - Indoneisa
- Deloitte Consulting - India
- Australian Commodity Traders Exchange
- Mjunction Services Limited - India
- Antam Resourcindo - Indonesia
- Romanian Commodities Exchange
- Toyota Tsusho Corporation, Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Timah Investasi Mineral - Indoneisa
- Uttam Galva Steels Limited - India
- Siam City Cement PLC, Thailand
- Coalindo Energy - Indonesia
- Vizag Seaport Private Limited - India
- Savvy Resources Ltd - HongKong
- CNBM International Corporation - China
- Edison Trading Spa - Italy
- Holcim Trading Pte Ltd - Singapore
- GAC Shipping (India) Pvt Ltd
- Australian Coal Association
- Sindya Power Generating Company Private Ltd
- Kaltim Prima Coal - Indonesia
- Global Business Power Corporation, Philippines
- The University of Queensland
- Oldendorff Carriers - Singapore
- Petron Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Sree Jayajothi Cements Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Finance - Indonesia
- PTC India Limited - India
- Power Finance Corporation Ltd., India
- Central Java Power - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- CIMB Investment Bank - Malaysia
- Goldman Sachs - Singapore
- Price Waterhouse Coopers - Russia
- GN Power Mariveles Coal Plant, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- International Coal Ventures Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Sical Logistics Limited - India
- Gujarat Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- GMR Energy Limited - India
- Parliament of New Zealand
- Thai Mozambique Logistica
- Kartika Selabumi Mining - Indonesia
- Formosa Plastics Group - Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Ambuja Cements Ltd - India
- Central Electricity Authority - India
- Alfred C Toepfer International GmbH - Germany
- Intertek Mineral Services - Indonesia
- Makarim & Taira - Indonesia
- Lanco Infratech Ltd - India
- Videocon Industries ltd - India
- Electricity Authority, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- Orica Mining Services - Indonesia
- India Bulls Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Energy - Thailand
- Bharathi Cement Corporation - India
- Jaiprakash Power Ventures ltd
- Baramulti Group, Indonesia
- Star Paper Mills Limited - India
- Meralco Power Generation, Philippines
- Energy Link Ltd, New Zealand
- Bukit Baiduri Energy - Indonesia
- Indonesian Coal Mining Association
- Parry Sugars Refinery, India
- Anglo American - United Kingdom
- The State Trading Corporation of India Ltd
- Bhushan Steel Limited - India
- Essar Steel Hazira Ltd - India
- Economic Council, Georgia
- Singapore Mercantile Exchange
- Binh Thuan Hamico - Vietnam
- IHS Mccloskey Coal Group - USA
- Sarangani Energy Corporation, Philippines
- Indika Energy - Indonesia
- Bangladesh Power Developement Board
- PowerSource Philippines DevCo
- Standard Chartered Bank - UAE
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement - Thailand
- Indian Energy Exchange, India
- Kalimantan Lumbung Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Wilmar Investment Holdings
- Attock Cement Pakistan Limited
- Gujarat Sidhee Cement - India
- Riau Bara Harum - Indonesia
- South Luzon Thermal Energy Corporation
- Kapuas Tunggal Persada - Indonesia
- Latin American Coal - Colombia
- Altura Mining Limited, Indonesia
- Cigading International Bulk Terminal - Indonesia
- White Energy Company Limited
- Carbofer General Trading SA - India
- London Commodity Brokers - England
- Indian Oil Corporation Limited
- Thiess Contractors Indonesia
- Directorate Of Revenue Intelligence - India
- Semirara Mining and Power Corporation, Philippines
- Aditya Birla Group - India
- TeaM Sual Corporation - Philippines
- Medco Energi Mining Internasional
- PNOC Exploration Corporation - Philippines
- Planning Commission, India
- Orica Australia Pty. Ltd.
- Aboitiz Power Corporation - Philippines
- Merrill Lynch Commodities Europe
- IEA Clean Coal Centre - UK
- Ceylon Electricity Board - Sri Lanka
- Ministry of Transport, Egypt
- Marubeni Corporation - India
- Vedanta Resources Plc - India
- Larsen & Toubro Limited - India
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