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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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Wednesday, 17 June 15
PANAMAX RATE AVERAGED $22.82 PMT IN THE FIRST 10 DAYS OF JUNE FOR THE GRAIN ROUTE FROM SANTOS, BRAZIL, TO QINGDAO, CHINA - INTERMODAL
This year, Brazil will be exporting a record 96 million tons of soybean crop and starting in August the country will begin shipping a second corn c ...
Tuesday, 16 June 15
MERS: POTENTIAL CHARTERPARTY IMPLICATIONS - CLYDE & CO
KNOWLEDGE TO ELEVATE
South Korea's current outbreak of Middle East Respiratory Syndrome (MERS) has been the focus of much international at ...
Tuesday, 16 June 15
Q3 FOB INDONESIA COAL SWAP PRICE DOWN 50 CENTS OVER PAST WEEK
COALspot.com: Indonesian coal swap for delivery Q3 2015 gains month on month but declined week over week, this past week.
The Q3 swap was clim ...
Tuesday, 16 June 15
FOB RICHARDS BAY COAL SWAPS: PRICES MOVED UP ON THE WEEK
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q3' 2015 rose month over month and week over week.
The Q3 swap was up US$ 1.70 ...
Monday, 15 June 15
API 5 FOB NEWCASTLE COAL SWAP: Q1'16 DELIVERY CLOSED 1.14% LOWER THAN Q4'15 DELIVERY PRICE
COALspot.com: API 5 FOB Newcastle Coal swap for Q3’ 2015 delivery up $ 1.10 per MT (2.47%) month over month to US$ 45.67 per mt. The swap ...
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- Petron Corporation, Philippines
- Electricity Generating Authority of Thailand
- Kaltim Prima Coal - Indonesia
- Gujarat Sidhee Cement - India
- Latin American Coal - Colombia
- Baramulti Group, Indonesia
- Indo Tambangraya Megah - Indonesia
- Mintek Dendrill Indonesia
- Chamber of Mines of South Africa
- Sindya Power Generating Company Private Ltd
- India Bulls Power Limited - India
- ASAPP Information Group - India
- Bhushan Steel Limited - India
- Intertek Mineral Services - Indonesia
- Aditya Birla Group - India
- Bayan Resources Tbk. - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Essar Steel Hazira Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Deloitte Consulting - India
- Bharathi Cement Corporation - India
- Bhoruka Overseas - Indonesia
- Romanian Commodities Exchange
- Kideco Jaya Agung - Indonesia
- Orica Australia Pty. Ltd.
- Simpson Spence & Young - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Malabar Cements Ltd - India
- Tata Chemicals Ltd - India
- Rashtriya Ispat Nigam Limited - India
- MS Steel International - UAE
- Mjunction Services Limited - India
- VISA Power Limited - India
- Central Java Power - Indonesia
- Siam City Cement PLC, Thailand
- Xindia Steels Limited - India
- Dalmia Cement Bharat India
- Edison Trading Spa - Italy
- Miang Besar Coal Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Maharashtra Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Kartika Selabumi Mining - Indonesia
- GMR Energy Limited - India
- Electricity Authority, New Zealand
- CIMB Investment Bank - Malaysia
- OPG Power Generation Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Sojitz Corporation - Japan
- Planning Commission, India
- Eastern Coal Council - USA
- Jorong Barutama Greston.PT - Indonesia
- Grasim Industreis Ltd - India
- Directorate Of Revenue Intelligence - India
- Merrill Lynch Commodities Europe
- Trasteel International SA, Italy
- New Zealand Coal & Carbon
- PNOC Exploration Corporation - Philippines
- Mercator Lines Limited - India
- Energy Development Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- GVK Power & Infra Limited - India
- Standard Chartered Bank - UAE
- European Bulk Services B.V. - Netherlands
- Uttam Galva Steels Limited - India
- Minerals Council of Australia
- Coal and Oil Company - UAE
- Chettinad Cement Corporation Ltd - India
- Metalloyd Limited - United Kingdom
- Bukit Makmur.PT - Indonesia
- Altura Mining Limited, Indonesia
- Australian Commodity Traders Exchange
- Rio Tinto Coal - Australia
- Posco Energy - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- PTC India Limited - India
- Therma Luzon, Inc, Philippines
- Larsen & Toubro Limited - India
- Power Finance Corporation Ltd., India
- Eastern Energy - Thailand
- Global Coal Blending Company Limited - Australia
- Indian Oil Corporation Limited
- Attock Cement Pakistan Limited
- AsiaOL BioFuels Corp., Philippines
- Samtan Co., Ltd - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Mining Services - Indonesia
- Thiess Contractors Indonesia
- Wilmar Investment Holdings
- Medco Energi Mining Internasional
- TNB Fuel Sdn Bhd - Malaysia
- Cement Manufacturers Association - India
- Sree Jayajothi Cements Limited - India
- Globalindo Alam Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Videocon Industries ltd - India
- Wood Mackenzie - Singapore
- Vizag Seaport Private Limited - India
- Antam Resourcindo - Indonesia
- Indian Energy Exchange, India
- GAC Shipping (India) Pvt Ltd
- The Treasury - Australian Government
- Banpu Public Company Limited - Thailand
- Bhatia International Limited - India
- Semirara Mining Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Renaissance Capital - South Africa
- Makarim & Taira - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- Madhucon Powers Ltd - India
- Sarangani Energy Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Timah Investasi Mineral - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Indogreen Group - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Savvy Resources Ltd - HongKong
- Aboitiz Power Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Sical Logistics Limited - India
- Ministry of Mines - Canada
- PowerSource Philippines DevCo
- Binh Thuan Hamico - Vietnam
- Global Business Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Formosa Plastics Group - Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- GN Power Mariveles Coal Plant, Philippines
- Ambuja Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Meralco Power Generation, Philippines
- Leighton Contractors Pty Ltd - Australia
- ICICI Bank Limited - India
- Carbofer General Trading SA - India
- PetroVietnam Power Coal Import and Supply Company
- McConnell Dowell - Australia
- Bukit Baiduri Energy - Indonesia
- Energy Link Ltd, New Zealand
- Commonwealth Bank - Australia
- Vedanta Resources Plc - India
- Tamil Nadu electricity Board
- Kobexindo Tractors - Indoneisa
- Toyota Tsusho Corporation, Japan
- SN Aboitiz Power Inc, Philippines
- Parliament of New Zealand
- Kepco SPC Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Star Paper Mills Limited - India
- LBH Netherlands Bv - Netherlands
- San Jose City I Power Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Karbindo Abesyapradhi - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Riau Bara Harum - Indonesia
- IHS Mccloskey Coal Group - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Parry Sugars Refinery, India
- Global Green Power PLC Corporation, Philippines
- Bangladesh Power Developement Board
- Maheswari Brothers Coal Limited - India
- Indika Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Agrawal Coal Company - India
- Africa Commodities Group - South Africa
- Heidelberg Cement - Germany
- Billiton Holdings Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Independent Power Producers Association of India
- Cigading International Bulk Terminal - Indonesia
- The State Trading Corporation of India Ltd
- SMC Global Power, Philippines
- Sakthi Sugars Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate General of MIneral and Coal - Indonesia
- Indonesian Coal Mining Association
- Goldman Sachs - Singapore
- Anglo American - United Kingdom
- Karaikal Port Pvt Ltd - India
- London Commodity Brokers - England
- Port Waratah Coal Services - Australia
- Kumho Petrochemical, South Korea
- Ind-Barath Power Infra Limited - India
- Georgia Ports Authority, United States
- Siam City Cement - Thailand
- Iligan Light & Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Holcim Trading Pte Ltd - Singapore
- Singapore Mercantile Exchange
- Barasentosa Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Coalindo Energy - Indonesia
- SMG Consultants - Indonesia
- Bulk Trading Sa - Switzerland
- Petrochimia International Co. Ltd.- Taiwan
- Jindal Steel & Power Ltd - India
- Central Electricity Authority - India
- IEA Clean Coal Centre - UK
- International Coal Ventures Pvt Ltd - India
- Australian Coal Association
- Oldendorff Carriers - Singapore
- Interocean Group of Companies - India
- Kalimantan Lumbung Energi - Indonesia
- CNBM International Corporation - China
- White Energy Company Limited
- Borneo Indobara - Indonesia
- Ministry of Transport, Egypt
- Economic Council, Georgia
- The University of Queensland
- Lanco Infratech Ltd - India
- Mercuria Energy - Indonesia
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