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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, 22 May 15
U.S WEEKLY COAL PRODUCTION STAYS FLAT AT 16 MMST
COALspot.com – United States the second largest coal producer in the world has produced approximately totaled an estimated 16.0 million short ...
Thursday, 21 May 15
PORT OF NEWCASTLE ACHIEVED ITS BEST EVER TOTAL COAL EXPORT TURNOVER OF 159 MILLION TONS IN 2014
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port, has shipped $900 million ...
Thursday, 21 May 15
ATLANTIC PANAMAX MARKET STARTED TO IMPROVE SLOWLY - INTERMODAL
COALspot.com: The Dry Bulk market closed off the week on the green last week, purely on the back of improved Capesize performance, while the rest o ...
Wednesday, 20 May 15
LOWER PRICES SEEN IN NEWBUILDING MARKET ON LOW DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Cash-rich ship owners, or at least, owners with substantial access to financing will be among the prime candidates, who will reap the benefits of t ...
Wednesday, 20 May 15
TANKER MARKET INSIGHT - JOHN N. COTZIAS
Since Early October 2014 the tanker market has been experiencing a very positive momentum and has continued its strong performance so far in 2015. ...
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- Salva Resources Pvt Ltd - India
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- Economic Council, Georgia
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- Kumho Petrochemical, South Korea
- Barasentosa Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Electricity Generating Authority of Thailand
- ASAPP Information Group - India
- Savvy Resources Ltd - HongKong
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- Merrill Lynch Commodities Europe
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- Sindya Power Generating Company Private Ltd
- Indo Tambangraya Megah - Indonesia
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- Gujarat Mineral Development Corp Ltd - India
- Parliament of New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
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- Ministry of Transport, Egypt
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- Ministry of Finance - Indonesia
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- Georgia Ports Authority, United States
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- IHS Mccloskey Coal Group - USA
- Bhushan Steel Limited - India
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- Australian Coal Association
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- Mintek Dendrill Indonesia
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- Petrochimia International Co. Ltd.- Taiwan
- GVK Power & Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
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- Maheswari Brothers Coal Limited - India
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- GMR Energy Limited - India
- Therma Luzon, Inc, Philippines
- India Bulls Power Limited - India
- PTC India Limited - India
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- Posco Energy - South Korea
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- Mjunction Services Limited - India
- Orica Mining Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Tata Chemicals Ltd - India
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- Interocean Group of Companies - India
- Chamber of Mines of South Africa
- Planning Commission, India
- Sarangani Energy Corporation, Philippines
- Port Waratah Coal Services - Australia
- Semirara Mining Corp, Philippines
- Coal and Oil Company - UAE
- Xindia Steels Limited - India
- Anglo American - United Kingdom
- Central Electricity Authority - India
- The University of Queensland
- Altura Mining Limited, Indonesia
- Energy Development Corp, Philippines
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- The State Trading Corporation of India Ltd
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- Indian Energy Exchange, India
- Edison Trading Spa - Italy
- Kepco SPC Power Corporation, Philippines
- Latin American Coal - Colombia
- Larsen & Toubro Limited - India
- Renaissance Capital - South Africa
- Formosa Plastics Group - Taiwan
- Agrawal Coal Company - India
- IEA Clean Coal Centre - UK
- Bulk Trading Sa - Switzerland
- CNBM International Corporation - China
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- Wood Mackenzie - Singapore
- Romanian Commodities Exchange
- Energy Link Ltd, New Zealand
- Meralco Power Generation, Philippines
- Parry Sugars Refinery, India
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- The Treasury - Australian Government
- International Coal Ventures Pvt Ltd - India
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- Bank of Tokyo Mitsubishi UFJ Ltd
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