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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, 04 June 15
DRY BULK MARKET FAILED TO OFFER ANY POSITIVE SURPRISES - INTERMODAL
COALspot.com: This has been another week that the Dry Bulk market failed to offer any positive surprises, while the BDI, which is still faring belo ...
Wednesday, 03 June 15
SHIPPING MARKET INSIGHT - VASSILIS LOGOTHETIS
For some time now the Dry Bulk market has been severely affected by China’s slowing GDP growth rate that occurs in the background of increase ...
Tuesday, 02 June 15
FOB INDONESIA COAL Q3 SWAP ADVANCED 1.73% MONTH OVER MONTH
COALspot.com: Indonesian coal swap for delivery Q3 2015 gains month on month and lost week over week, this past week.
The Q3 swap was climbed ...
Tuesday, 02 June 15
FOB RICHARDS BAY COAL SWAPS; Q3'15 CLOSED HIGHER THAN Q1'16
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q3' 2015 up month over month and week over week.
The Q3 swap was up US$ 0.80 (1 ...
Monday, 01 June 15
35,000 MW POWER PLANTS TO BOOST COAL CONSUMPTION - JP
The government’s program to develop 35,000 megawatt (MW) power plants will increase domestic coal consumption, which currently stands at arou ...
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- Oldendorff Carriers - Singapore
- Rashtriya Ispat Nigam Limited - India
- European Bulk Services B.V. - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Agrawal Coal Company - India
- Edison Trading Spa - Italy
- Samtan Co., Ltd - South Korea
- Energy Link Ltd, New Zealand
- Bukit Makmur.PT - Indonesia
- ASAPP Information Group - India
- White Energy Company Limited
- Orica Australia Pty. Ltd.
- Bhatia International Limited - India
- Therma Luzon, Inc, Philippines
- Carbofer General Trading SA - India
- IEA Clean Coal Centre - UK
- Sinarmas Energy and Mining - Indonesia
- Essar Steel Hazira Ltd - India
- Central Electricity Authority - India
- Standard Chartered Bank - UAE
- Malabar Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Energy Development Corp, Philippines
- Bulk Trading Sa - Switzerland
- Karbindo Abesyapradhi - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Thai Mozambique Logistica
- Singapore Mercantile Exchange
- VISA Power Limited - India
- Videocon Industries ltd - India
- Global Coal Blending Company Limited - Australia
- Straits Asia Resources Limited - Singapore
- Mintek Dendrill Indonesia
- Bukit Baiduri Energy - Indonesia
- Bhushan Steel Limited - India
- Salva Resources Pvt Ltd - India
- Wood Mackenzie - Singapore
- Goldman Sachs - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Larsen & Toubro Limited - India
- Merrill Lynch Commodities Europe
- Kobexindo Tractors - Indoneisa
- SMC Global Power, Philippines
- Indian Energy Exchange, India
- Borneo Indobara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Iligan Light & Power Inc, Philippines
- Indonesian Coal Mining Association
- Altura Mining Limited, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kaltim Prima Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Makarim & Taira - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Marubeni Corporation - India
- Binh Thuan Hamico - Vietnam
- Orica Mining Services - Indonesia
- PNOC Exploration Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Barasentosa Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- PTC India Limited - India
- Africa Commodities Group - South Africa
- Sree Jayajothi Cements Limited - India
- Port Waratah Coal Services - Australia
- Bharathi Cement Corporation - India
- Petron Corporation, Philippines
- Planning Commission, India
- Pipit Mutiara Jaya. PT, Indonesia
- Parliament of New Zealand
- Latin American Coal - Colombia
- Parry Sugars Refinery, India
- The Treasury - Australian Government
- Formosa Plastics Group - Taiwan
- Lanco Infratech Ltd - India
- Maheswari Brothers Coal Limited - India
- Madhucon Powers Ltd - India
- Bangladesh Power Developement Board
- Australian Commodity Traders Exchange
- Deloitte Consulting - India
- Kohat Cement Company Ltd. - Pakistan
- Power Finance Corporation Ltd., India
- Minerals Council of Australia
- Wilmar Investment Holdings
- Karaikal Port Pvt Ltd - India
- Mercator Lines Limited - India
- Jaiprakash Power Ventures ltd
- Electricity Authority, New Zealand
- Xindia Steels Limited - India
- Coastal Gujarat Power Limited - India
- Mjunction Services Limited - India
- Independent Power Producers Association of India
- Intertek Mineral Services - Indonesia
- Ambuja Cements Ltd - India
- Economic Council, Georgia
- Indika Energy - Indonesia
- Chamber of Mines of South Africa
- Trasteel International SA, Italy
- Aditya Birla Group - India
- CNBM International Corporation - China
- Renaissance Capital - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Indogreen Group - Indonesia
- Bhoruka Overseas - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Global Green Power PLC Corporation, Philippines
- McConnell Dowell - Australia
- SMG Consultants - Indonesia
- Kartika Selabumi Mining - Indonesia
- India Bulls Power Limited - India
- Bayan Resources Tbk. - Indonesia
- The State Trading Corporation of India Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- GAC Shipping (India) Pvt Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- Gujarat Sidhee Cement - India
- Eastern Energy - Thailand
- Siam City Cement PLC, Thailand
- Indo Tambangraya Megah - Indonesia
- GVK Power & Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Price Waterhouse Coopers - Russia
- Metalloyd Limited - United Kingdom
- OPG Power Generation Pvt Ltd - India
- MS Steel International - UAE
- Aboitiz Power Corporation - Philippines
- Australian Coal Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercuria Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Uttam Galva Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Star Paper Mills Limited - India
- Sindya Power Generating Company Private Ltd
- Meenaskhi Energy Private Limited - India
- Medco Energi Mining Internasional
- Maharashtra Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Kepco SPC Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Semirara Mining Corp, Philippines
- PowerSource Philippines DevCo
- Rio Tinto Coal - Australia
- Chettinad Cement Corporation Ltd - India
- Baramulti Group, Indonesia
- ICICI Bank Limited - India
- London Commodity Brokers - England
- Georgia Ports Authority, United States
- IHS Mccloskey Coal Group - USA
- Indian Oil Corporation Limited
- Electricity Generating Authority of Thailand
- Sarangani Energy Corporation, Philippines
- Global Business Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Holcim Trading Pte Ltd - Singapore
- Directorate Of Revenue Intelligence - India
- International Coal Ventures Pvt Ltd - India
- Dalmia Cement Bharat India
- GMR Energy Limited - India
- Tata Chemicals Ltd - India
- Riau Bara Harum - Indonesia
- Anglo American - United Kingdom
- Heidelberg Cement - Germany
- Grasim Industreis Ltd - India
- Vedanta Resources Plc - India
- Toyota Tsusho Corporation, Japan
- Simpson Spence & Young - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Coal and Oil Company - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Interocean Group of Companies - India
- Commonwealth Bank - Australia
- South Luzon Thermal Energy Corporation
- Pendopo Energi Batubara - Indonesia
- San Jose City I Power Corp, Philippines
- Posco Energy - South Korea
- Siam City Cement - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- LBH Netherlands Bv - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Leighton Contractors Pty Ltd - Australia
- Ministry of Mines - Canada
- Cement Manufacturers Association - India
- Sical Logistics Limited - India
- Thiess Contractors Indonesia
- Coalindo Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Timah Investasi Mineral - Indoneisa
- Sojitz Corporation - Japan
- Meralco Power Generation, Philippines
- Jindal Steel & Power Ltd - India
- Sakthi Sugars Limited - India
- Eastern Coal Council - USA
- New Zealand Coal & Carbon
- Ministry of Finance - Indonesia
- Romanian Commodities Exchange
- The University of Queensland
- Tamil Nadu electricity Board
- Attock Cement Pakistan Limited
- Central Java Power - Indonesia
- Kumho Petrochemical, South Korea
- Ministry of Transport, Egypt
- Gujarat Electricity Regulatory Commission - India
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