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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, 20 May 15
FOB RICHARDS BAY COAL SWAPS GAINED M-O-M, W-O-W
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q3' 2015 increased month over month and week over week.
The Q3 swap has increas ...
Wednesday, 20 May 15
BUKIT ASAM'S AVERAGE EXPORT PRICE WAS UNDER PRESSURE DURING Q1
COALspot.com: Indonesia’s state owned coal producer saw their profits fall in the first quarter of the year compared to the same period last ...
Wednesday, 20 May 15
IRON ORE PRICES TO REMAIN WEAK ON LOW DEMAND, HIGH OUTPUT - FITCH
Iron ore prices will stay low for several years due to increasing supply, weak demand growth in China and the slower-than-expected closure of high- ...
Tuesday, 19 May 15
KOMIPO IS SEEKING TOTAL 2.34 MMT OF HCV AND LCV COAL FOR 2015 - 2017
COALspot.com: South Korean state-owned utility Korea Midland Power (KOMIPO) issued an new tender to buy total 2.34 million Metric Tons (MT) of HCV ...
Monday, 18 May 15
FOB NEWCASTLE COAL SWAPS SCORE MONTHLY GAINS
COALspot.com: API 5 FOB Newcastle Coal swap for Q3’ 2015 delivery gained US$ 0.87 per MT (1.99%) month over month and lost US$ 0.03 week on w ...
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- Coal and Oil Company - UAE
- Directorate General of MIneral and Coal - Indonesia
- Trasteel International SA, Italy
- Singapore Mercantile Exchange
- Central Electricity Authority - India
- Bhatia International Limited - India
- Siam City Cement - Thailand
- Indian Energy Exchange, India
- Latin American Coal - Colombia
- Metalloyd Limited - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- Lanco Infratech Ltd - India
- ASAPP Information Group - India
- Baramulti Group, Indonesia
- Electricity Generating Authority of Thailand
- Ministry of Mines - Canada
- Eastern Energy - Thailand
- Attock Cement Pakistan Limited
- IHS Mccloskey Coal Group - USA
- South Luzon Thermal Energy Corporation
- Thai Mozambique Logistica
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mintek Dendrill Indonesia
- Kobexindo Tractors - Indoneisa
- Maheswari Brothers Coal Limited - India
- Wood Mackenzie - Singapore
- Tamil Nadu electricity Board
- Thiess Contractors Indonesia
- Indika Energy - Indonesia
- CIMB Investment Bank - Malaysia
- LBH Netherlands Bv - Netherlands
- Petron Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Chettinad Cement Corporation Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Gujarat Mineral Development Corp Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Agrawal Coal Company - India
- Cement Manufacturers Association - India
- Barasentosa Lestari - Indonesia
- Commonwealth Bank - Australia
- Indian Oil Corporation Limited
- Tata Chemicals Ltd - India
- Bhushan Steel Limited - India
- Globalindo Alam Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Videocon Industries ltd - India
- Mercuria Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Dalmia Cement Bharat India
- Marubeni Corporation - India
- Planning Commission, India
- Mercator Lines Limited - India
- Kartika Selabumi Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Electricity Authority, New Zealand
- San Jose City I Power Corp, Philippines
- Star Paper Mills Limited - India
- Toyota Tsusho Corporation, Japan
- Madhucon Powers Ltd - India
- Orica Mining Services - Indonesia
- Sical Logistics Limited - India
- Minerals Council of Australia
- Bukit Asam (Persero) Tbk - Indonesia
- PTC India Limited - India
- Miang Besar Coal Terminal - Indonesia
- Standard Chartered Bank - UAE
- Savvy Resources Ltd - HongKong
- New Zealand Coal & Carbon
- Samtan Co., Ltd - South Korea
- Coastal Gujarat Power Limited - India
- Altura Mining Limited, Indonesia
- Ministry of Finance - Indonesia
- Africa Commodities Group - South Africa
- Energy Development Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Indo Tambangraya Megah - Indonesia
- Indonesian Coal Mining Association
- Ministry of Transport, Egypt
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Oldendorff Carriers - Singapore
- Xindia Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Medco Energi Mining Internasional
- Merrill Lynch Commodities Europe
- Bank of Tokyo Mitsubishi UFJ Ltd
- Romanian Commodities Exchange
- Essar Steel Hazira Ltd - India
- Sree Jayajothi Cements Limited - India
- Grasim Industreis Ltd - India
- Ind-Barath Power Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- Parliament of New Zealand
- VISA Power Limited - India
- Indogreen Group - Indonesia
- Manunggal Multi Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bhoruka Overseas - Indonesia
- Energy Link Ltd, New Zealand
- Deloitte Consulting - India
- European Bulk Services B.V. - Netherlands
- Ceylon Electricity Board - Sri Lanka
- ICICI Bank Limited - India
- Independent Power Producers Association of India
- Banpu Public Company Limited - Thailand
- Vizag Seaport Private Limited - India
- Eastern Coal Council - USA
- Coalindo Energy - Indonesia
- Global Business Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Mjunction Services Limited - India
- Heidelberg Cement - Germany
- PetroVietnam Power Coal Import and Supply Company
- Bharathi Cement Corporation - India
- CNBM International Corporation - China
- Aditya Birla Group - India
- Meralco Power Generation, Philippines
- Straits Asia Resources Limited - Singapore
- Riau Bara Harum - Indonesia
- Simpson Spence & Young - Indonesia
- Bayan Resources Tbk. - Indonesia
- Rio Tinto Coal - Australia
- Sarangani Energy Corporation, Philippines
- Economic Council, Georgia
- MS Steel International - UAE
- Carbofer General Trading SA - India
- Borneo Indobara - Indonesia
- Australian Coal Association
- GMR Energy Limited - India
- Directorate Of Revenue Intelligence - India
- Petrochimia International Co. Ltd.- Taiwan
- The Treasury - Australian Government
- Posco Energy - South Korea
- Kideco Jaya Agung - Indonesia
- Pendopo Energi Batubara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kapuas Tunggal Persada - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Goldman Sachs - Singapore
- The State Trading Corporation of India Ltd
- Karaikal Port Pvt Ltd - India
- Larsen & Toubro Limited - India
- Semirara Mining Corp, Philippines
- Wilmar Investment Holdings
- White Energy Company Limited
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- GN Power Mariveles Coal Plant, Philippines
- GVK Power & Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Parry Sugars Refinery, India
- OPG Power Generation Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Renaissance Capital - South Africa
- Kohat Cement Company Ltd. - Pakistan
- International Coal Ventures Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Gujarat Sidhee Cement - India
- Timah Investasi Mineral - Indoneisa
- London Commodity Brokers - England
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMC Global Power, Philippines
- Neyveli Lignite Corporation Ltd, - India
- IEA Clean Coal Centre - UK
- Anglo American - United Kingdom
- Interocean Group of Companies - India
- Bangladesh Power Developement Board
- Antam Resourcindo - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Global Green Power PLC Corporation, Philippines
- Sojitz Corporation - Japan
- Australian Commodity Traders Exchange
- Uttam Galva Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Coal Blending Company Limited - Australia
- Georgia Ports Authority, United States
- Port Waratah Coal Services - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Makarim & Taira - Indonesia
- India Bulls Power Limited - India
- Sindya Power Generating Company Private Ltd
- Sakthi Sugars Limited - India
- Salva Resources Pvt Ltd - India
- Malabar Cements Ltd - India
- PowerSource Philippines DevCo
- Intertek Mineral Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Edison Trading Spa - Italy
- SMG Consultants - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Krishnapatnam Port Company Ltd. - India
- Asmin Koalindo Tuhup - Indonesia
- Central Java Power - Indonesia
- Power Finance Corporation Ltd., India
- GAC Shipping (India) Pvt Ltd
- The University of Queensland
- Meenaskhi Energy Private Limited - India
- Bukit Makmur.PT - Indonesia
- Vedanta Resources Plc - India
- Bulk Trading Sa - Switzerland
- Gujarat Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- McConnell Dowell - Australia
- Jindal Steel & Power Ltd - India
- Chamber of Mines of South Africa
- Price Waterhouse Coopers - Russia
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