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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, 01 June 15
API 5 FOB NEWCASTLE COAL SWAP; Q1'16 CLOSED LOWER COMPARED TO Q3'15
COALspot.com: API 5 FOB Newcastle Coal swap for Q3’ 2015 delivery gained US$ 0.36 per MT (0.80%) month over month. The swap was closed at US$ ...
Monday, 01 June 15
CFR SOUTH CHINA COAL SWAP: GAINED W-W, M-M; Q1'16 CLOSED HIGHER THAN Q3'15
COALspot.com: API 8 CFR South China Coal swap for Q3’ 2015 delivery up US$ 1.15 (2.26%) per MT month over month.
A commodity swap is a f ...
Sunday, 31 May 15
CAPE AND PANAMAX SEGMENTS SLIDE CONTINUES
COALspot.com: The BDI was up about 0.5 pct week on week and closed at 589 points while the cape index was fell 0.73 pct and closed at 810 po ...
Friday, 29 May 15
DRY BULK MARKET IS THE VICTIM OF A SHIFT IN DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The fall in dry bulk freight rates is attributed, in large part, to the substantial decrease of China’s thermal coal imports, a major commodi ...
Friday, 29 May 15
COAL PRODUCTION IN THE U.S. ALMOST FLAT THIS PAST WEEK
COALspot.com – United States the second largest coal producer in the world has produced approximately totaled an estimated 16.1 million short ...
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- White Energy Company Limited
- PNOC Exploration Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bhatia International Limited - India
- Coalindo Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Energy Link Ltd, New Zealand
- Lanco Infratech Ltd - India
- Indian Oil Corporation Limited
- IEA Clean Coal Centre - UK
- Parry Sugars Refinery, India
- Planning Commission, India
- Petron Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Posco Energy - South Korea
- Meralco Power Generation, Philippines
- Mjunction Services Limited - India
- McConnell Dowell - Australia
- Carbofer General Trading SA - India
- Straits Asia Resources Limited - Singapore
- Sindya Power Generating Company Private Ltd
- Renaissance Capital - South Africa
- Meenaskhi Energy Private Limited - India
- Ministry of Finance - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Minerals Council of Australia
- TNB Fuel Sdn Bhd - Malaysia
- Mintek Dendrill Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Chamber of Mines of South Africa
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- Global Business Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Dalmia Cement Bharat India
- Xindia Steels Limited - India
- Indian Energy Exchange, India
- New Zealand Coal & Carbon
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- Bukit Makmur.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Interocean Group of Companies - India
- Port Waratah Coal Services - Australia
- Energy Development Corp, Philippines
- Orica Mining Services - Indonesia
- Tamil Nadu electricity Board
- CNBM International Corporation - China
- Pipit Mutiara Jaya. PT, Indonesia
- Aboitiz Power Corporation - Philippines
- The State Trading Corporation of India Ltd
- Sical Logistics Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Karaikal Port Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Therma Luzon, Inc, Philippines
- Kobexindo Tractors - Indoneisa
- India Bulls Power Limited - India
- Oldendorff Carriers - Singapore
- Directorate Of Revenue Intelligence - India
- Videocon Industries ltd - India
- Binh Thuan Hamico - Vietnam
- PTC India Limited - India
- San Jose City I Power Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Attock Cement Pakistan Limited
- Holcim Trading Pte Ltd - Singapore
- Intertek Mineral Services - Indonesia
- Iligan Light & Power Inc, Philippines
- Standard Chartered Bank - UAE
- Leighton Contractors Pty Ltd - Australia
- Wilmar Investment Holdings
- GMR Energy Limited - India
- Savvy Resources Ltd - HongKong
- Bulk Trading Sa - Switzerland
- Sinarmas Energy and Mining - Indonesia
- Georgia Ports Authority, United States
- Kumho Petrochemical, South Korea
- Gujarat Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Mercuria Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Indika Energy - Indonesia
- Electricity Generating Authority of Thailand
- Latin American Coal - Colombia
- Kartika Selabumi Mining - Indonesia
- SMC Global Power, Philippines
- Alfred C Toepfer International GmbH - Germany
- Chettinad Cement Corporation Ltd - India
- Grasim Industreis Ltd - India
- Goldman Sachs - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Toyota Tsusho Corporation, Japan
- Bhushan Steel Limited - India
- Uttam Galva Steels Limited - India
- Romanian Commodities Exchange
- Orica Australia Pty. Ltd.
- Tata Chemicals Ltd - India
- Vizag Seaport Private Limited - India
- Central Electricity Authority - India
- Ind-Barath Power Infra Limited - India
- MS Steel International - UAE
- Sojitz Corporation - Japan
- Indogreen Group - Indonesia
- ICICI Bank Limited - India
- Jaiprakash Power Ventures ltd
- The Treasury - Australian Government
- Directorate General of MIneral and Coal - Indonesia
- Thai Mozambique Logistica
- Rio Tinto Coal - Australia
- Kideco Jaya Agung - Indonesia
- Thiess Contractors Indonesia
- Antam Resourcindo - Indonesia
- Bhoruka Overseas - Indonesia
- Vedanta Resources Plc - India
- Baramulti Group, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Parliament of New Zealand
- Economic Council, Georgia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Trasteel International SA, Italy
- GAC Shipping (India) Pvt Ltd
- Riau Bara Harum - Indonesia
- Bayan Resources Tbk. - Indonesia
- Manunggal Multi Energi - Indonesia
- London Commodity Brokers - England
- Kaltim Prima Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Central Java Power - Indonesia
- AsiaOL BioFuels Corp., Philippines
- OPG Power Generation Pvt Ltd - India
- Aditya Birla Group - India
- Banpu Public Company Limited - Thailand
- European Bulk Services B.V. - Netherlands
- Marubeni Corporation - India
- VISA Power Limited - India
- Coastal Gujarat Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Formosa Plastics Group - Taiwan
- Siam City Cement PLC, Thailand
- Simpson Spence & Young - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- South Luzon Thermal Energy Corporation
- Makarim & Taira - Indonesia
- Eastern Coal Council - USA
- Metalloyd Limited - United Kingdom
- Wood Mackenzie - Singapore
- SMG Consultants - Indonesia
- Australian Commodity Traders Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Agrawal Coal Company - India
- Edison Trading Spa - Italy
- Gujarat Sidhee Cement - India
- Rashtriya Ispat Nigam Limited - India
- Price Waterhouse Coopers - Russia
- Bahari Cakrawala Sebuku - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Global Coal Blending Company Limited - Australia
- Ambuja Cements Ltd - India
- Siam City Cement - Thailand
- Semirara Mining Corp, Philippines
- Power Finance Corporation Ltd., India
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Transport, Egypt
- SN Aboitiz Power Inc, Philippines
- Indonesian Coal Mining Association
- Ministry of Mines - Canada
- Kepco SPC Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Cigading International Bulk Terminal - Indonesia
- Larsen & Toubro Limited - India
- Bangladesh Power Developement Board
- Neyveli Lignite Corporation Ltd, - India
- Global Green Power PLC Corporation, Philippines
- Singapore Mercantile Exchange
- Bukit Baiduri Energy - Indonesia
- Borneo Indobara - Indonesia
- Mercator Lines Limited - India
- Commonwealth Bank - Australia
- Asmin Koalindo Tuhup - Indonesia
- Madhucon Powers Ltd - India
- Electricity Authority, New Zealand
- Indo Tambangraya Megah - Indonesia
- Samtan Co., Ltd - South Korea
- Sree Jayajothi Cements Limited - India
- Heidelberg Cement - Germany
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- Globalindo Alam Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- PowerSource Philippines DevCo
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Independent Power Producers Association of India
- Cement Manufacturers Association - India
- Barasentosa Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- Malabar Cements Ltd - India
- Sakthi Sugars Limited - India
- Africa Commodities Group - South Africa
- Timah Investasi Mineral - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Coal Association
- Eastern Energy - Thailand
- Medco Energi Mining Internasional
- Anglo American - United Kingdom
- LBH Netherlands Bv - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Star Paper Mills Limited - India
- Coal and Oil Company - UAE
- GVK Power & Infra Limited - India
- Altura Mining Limited, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Deloitte Consulting - India
- The University of Queensland
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