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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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Monday, 15 June 15
CFR SOUTH CHINA COAL SWAP: ROSE M-O-M; DECLINED W-O-W
COALspot.com: API 8 CFR South China Coal swap for Q3’ 2015 delivery rose US$ 1.43 (2.82%) per MT month over month.
A commodity swap is a ...
Sunday, 14 June 15
THE FREIGHT MARKET FINISHED THE WEEK UP COMPARED TO LAST WEEK
COALspot.com: The freight market finished the week up compared to last week. All the segments except for Cape index were up. Cape segment was ...
Friday, 12 June 15
EXPECTATIONS IN REGARDS TO THE SUMMER SEASON VARY ACROSS THE MARKET - INTERMODAL
The Dry Bulk market closed off last slightly up last week, with the BDI re-gaining the 600 points level, while the driving force behind the increas ...
Friday, 12 June 15
U.S. PRODUCED 15.1 MMST OF COAL THIS PAST WEEK - EIA
COALspot.com – United States the second largest coal producer in the world has produced approximately totaled an estimated 15.1 million short ...
Thursday, 11 June 15
IS COAL INDUSTRY GOING TO HIT A BRICK WALL?
COALspot.com - The Director General of Mineral and Coal of Indonesia revised down Indonesian coal benchmark price once again to US$ 59.59 per MT fo ...
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- PTC India Limited - India
- Oldendorff Carriers - Singapore
- Chamber of Mines of South Africa
- Indika Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- PNOC Exploration Corporation - Philippines
- ICICI Bank Limited - India
- Sree Jayajothi Cements Limited - India
- Videocon Industries ltd - India
- Kaltim Prima Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Formosa Plastics Group - Taiwan
- AsiaOL BioFuels Corp., Philippines
- Orica Australia Pty. Ltd.
- Petrochimia International Co. Ltd.- Taiwan
- Africa Commodities Group - South Africa
- Larsen & Toubro Limited - India
- Leighton Contractors Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Aboitiz Power Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Romanian Commodities Exchange
- Bukit Baiduri Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Wood Mackenzie - Singapore
- Bayan Resources Tbk. - Indonesia
- International Coal Ventures Pvt Ltd - India
- Australian Coal Association
- MS Steel International - UAE
- Minerals Council of Australia
- Bahari Cakrawala Sebuku - Indonesia
- Global Green Power PLC Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Kartika Selabumi Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Tata Chemicals Ltd - India
- Trasteel International SA, Italy
- Bangladesh Power Developement Board
- VISA Power Limited - India
- Makarim & Taira - Indonesia
- Pendopo Energi Batubara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Goldman Sachs - Singapore
- OPG Power Generation Pvt Ltd - India
- Planning Commission, India
- Deloitte Consulting - India
- Savvy Resources Ltd - HongKong
- Cement Manufacturers Association - India
- Meenaskhi Energy Private Limited - India
- Electricity Authority, New Zealand
- Baramulti Group, Indonesia
- Bulk Trading Sa - Switzerland
- Orica Mining Services - Indonesia
- Gujarat Sidhee Cement - India
- Kapuas Tunggal Persada - Indonesia
- Wilmar Investment Holdings
- GVK Power & Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Electricity Generating Authority of Thailand
- Indogreen Group - Indonesia
- TeaM Sual Corporation - Philippines
- ASAPP Information Group - India
- Krishnapatnam Port Company Ltd. - India
- Independent Power Producers Association of India
- Grasim Industreis Ltd - India
- Indian Energy Exchange, India
- PetroVietnam Power Coal Import and Supply Company
- Xindia Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Binh Thuan Hamico - Vietnam
- Salva Resources Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Edison Trading Spa - Italy
- CIMB Investment Bank - Malaysia
- Energy Development Corp, Philippines
- SMG Consultants - Indonesia
- Maheswari Brothers Coal Limited - India
- Simpson Spence & Young - Indonesia
- Price Waterhouse Coopers - Russia
- Ministry of Mines - Canada
- SN Aboitiz Power Inc, Philippines
- Riau Bara Harum - Indonesia
- IHS Mccloskey Coal Group - USA
- Bhushan Steel Limited - India
- London Commodity Brokers - England
- Uttam Galva Steels Limited - India
- Tamil Nadu electricity Board
- Samtan Co., Ltd - South Korea
- McConnell Dowell - Australia
- Antam Resourcindo - Indonesia
- Coal and Oil Company - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- The State Trading Corporation of India Ltd
- Gujarat Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Asmin Koalindo Tuhup - Indonesia
- Thiess Contractors Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meralco Power Generation, Philippines
- Sical Logistics Limited - India
- Semirara Mining Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Merrill Lynch Commodities Europe
- Posco Energy - South Korea
- Marubeni Corporation - India
- PowerSource Philippines DevCo
- Siam City Cement PLC, Thailand
- Coalindo Energy - Indonesia
- Kumho Petrochemical, South Korea
- Bhatia International Limited - India
- Agrawal Coal Company - India
- GAC Shipping (India) Pvt Ltd
- Essar Steel Hazira Ltd - India
- Aditya Birla Group - India
- Indo Tambangraya Megah - Indonesia
- Parliament of New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Singapore Mercantile Exchange
- Dalmia Cement Bharat India
- The Treasury - Australian Government
- Medco Energi Mining Internasional
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Commonwealth Bank - Australia
- Heidelberg Cement - Germany
- Ind-Barath Power Infra Limited - India
- Sakthi Sugars Limited - India
- Bhoruka Overseas - Indonesia
- Star Paper Mills Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- Ministry of Finance - Indonesia
- LBH Netherlands Bv - Netherlands
- Intertek Mineral Services - Indonesia
- Latin American Coal - Colombia
- Sindya Power Generating Company Private Ltd
- Vedanta Resources Plc - India
- Ceylon Electricity Board - Sri Lanka
- New Zealand Coal & Carbon
- Port Waratah Coal Services - Australia
- Indian Oil Corporation Limited
- San Jose City I Power Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Anglo American - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- Barasentosa Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate Of Revenue Intelligence - India
- Kohat Cement Company Ltd. - Pakistan
- Mercator Lines Limited - India
- European Bulk Services B.V. - Netherlands
- Renaissance Capital - South Africa
- Central Electricity Authority - India
- Eastern Energy - Thailand
- Ambuja Cements Ltd - India
- Malabar Cements Ltd - India
- Georgia Ports Authority, United States
- Neyveli Lignite Corporation Ltd, - India
- Mercuria Energy - Indonesia
- Economic Council, Georgia
- Petron Corporation, Philippines
- Indonesian Coal Mining Association
- Metalloyd Limited - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Eastern Coal Council - USA
- Semirara Mining and Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Madhucon Powers Ltd - India
- Siam City Cement - Thailand
- Bharathi Cement Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- Straits Asia Resources Limited - Singapore
- Global Business Power Corporation, Philippines
- Sojitz Corporation - Japan
- Vizag Seaport Private Limited - India
- Standard Chartered Bank - UAE
- Banpu Public Company Limited - Thailand
- Coastal Gujarat Power Limited - India
- The University of Queensland
- Jindal Steel & Power Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Java Power - Indonesia
- Altura Mining Limited, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Energy Link Ltd, New Zealand
- IEA Clean Coal Centre - UK
- Mintek Dendrill Indonesia
- GMR Energy Limited - India
- Jaiprakash Power Ventures ltd
- White Energy Company Limited
- Thai Mozambique Logistica
- Sarangani Energy Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Attock Cement Pakistan Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rio Tinto Coal - Australia
- India Bulls Power Limited - India
- Lanco Infratech Ltd - India
- Borneo Indobara - Indonesia
- Carbofer General Trading SA - India
- Parry Sugars Refinery, India
- Directorate General of MIneral and Coal - Indonesia
- Australian Commodity Traders Exchange
- Jorong Barutama Greston.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- SMC Global Power, Philippines
- Ministry of Transport, Egypt
- CNBM International Corporation - China
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