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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, 11 May 15
CFR SOUTH CHINA COAL SWAP: DECLINED MOM AND WOW
COALspot.com: API 8 CFR South China Coal swap for Q3’ 2015 delivery declined US$ 0.46 (-0.90%) per MT month over month and US$ 0.28 (0. ...
Monday, 11 May 15
KOREA MIDLAND POWER INVITES BIDS FOR 140K MT OF 4600 NAR COAL
COALspot.com: South Korean state-owned utility Korea Midland Power (KOMIPO) issued a new tender to buy total 140,000 Metric Tons (MT) of Sub-bitumi ...
Sunday, 10 May 15
FREIGHT RATES TO REMAIN SOFT NEXT WEEK
COALspot.com: The freight market was flat to soft week over week except for the Cape Index which was up 7.32%. Cape index was closed at 616 p ...
Friday, 08 May 15
BUSIEST CAPESIZE DEMOLITION MARKET EVER - BIMCO
The activity on the demolition market is off to a good start in 2015 when looking at dry bulk tonnage.
The dry bulk market has long suffered f ...
Friday, 08 May 15
COAL PRODUCTION IN U.S. UP 3.2% THIS PAST WEEK - EIA
COALspot.com – United States the second largest coal producer in the world has produced approximately totaled an estimated 17.4 million short ...
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- Commonwealth Bank - Australia
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Mines - Canada
- Manunggal Multi Energi - Indonesia
- Mintek Dendrill Indonesia
- India Bulls Power Limited - India
- TeaM Sual Corporation - Philippines
- Uttam Galva Steels Limited - India
- San Jose City I Power Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Bukit Baiduri Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Kartika Selabumi Mining - Indonesia
- The State Trading Corporation of India Ltd
- Chettinad Cement Corporation Ltd - India
- Agrawal Coal Company - India
- Jaiprakash Power Ventures ltd
- Minerals Council of Australia
- Salva Resources Pvt Ltd - India
- Makarim & Taira - Indonesia
- VISA Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- SMG Consultants - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- White Energy Company Limited
- London Commodity Brokers - England
- Bhushan Steel Limited - India
- Vizag Seaport Private Limited - India
- Timah Investasi Mineral - Indoneisa
- Coastal Gujarat Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Orica Australia Pty. Ltd.
- Energy Link Ltd, New Zealand
- Star Paper Mills Limited - India
- Leighton Contractors Pty Ltd - Australia
- Chamber of Mines of South Africa
- OPG Power Generation Pvt Ltd - India
- PTC India Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Krishnapatnam Port Company Ltd. - India
- Riau Bara Harum - Indonesia
- Indonesian Coal Mining Association
- Interocean Group of Companies - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Coal Blending Company Limited - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Rio Tinto Coal - Australia
- Gujarat Mineral Development Corp Ltd - India
- Altura Mining Limited, Indonesia
- Binh Thuan Hamico - Vietnam
- GAC Shipping (India) Pvt Ltd
- Eastern Coal Council - USA
- Mercator Lines Limited - India
- Kepco SPC Power Corporation, Philippines
- Renaissance Capital - South Africa
- Eastern Energy - Thailand
- Globalindo Alam Lestari - Indonesia
- Thiess Contractors Indonesia
- Global Green Power PLC Corporation, Philippines
- IEA Clean Coal Centre - UK
- Kalimantan Lumbung Energi - Indonesia
- Bulk Trading Sa - Switzerland
- CIMB Investment Bank - Malaysia
- Heidelberg Cement - Germany
- Madhucon Powers Ltd - India
- ASAPP Information Group - India
- Carbofer General Trading SA - India
- Maharashtra Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Pendopo Energi Batubara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Indian Oil Corporation Limited
- Indika Energy - Indonesia
- Mjunction Services Limited - India
- Jindal Steel & Power Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- GVK Power & Infra Limited - India
- New Zealand Coal & Carbon
- Parliament of New Zealand
- Sojitz Corporation - Japan
- Mercuria Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Holcim Trading Pte Ltd - Singapore
- Tata Chemicals Ltd - India
- Goldman Sachs - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Barasentosa Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- IHS Mccloskey Coal Group - USA
- Kaltim Prima Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- Sree Jayajothi Cements Limited - India
- Australian Commodity Traders Exchange
- Power Finance Corporation Ltd., India
- Petrochimia International Co. Ltd.- Taiwan
- International Coal Ventures Pvt Ltd - India
- Latin American Coal - Colombia
- Kumho Petrochemical, South Korea
- Posco Energy - South Korea
- Straits Asia Resources Limited - Singapore
- Ministry of Finance - Indonesia
- Trasteel International SA, Italy
- Orica Mining Services - Indonesia
- Planning Commission, India
- Ind-Barath Power Infra Limited - India
- Standard Chartered Bank - UAE
- Singapore Mercantile Exchange
- Ceylon Electricity Board - Sri Lanka
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement PLC, Thailand
- Deloitte Consulting - India
- Electricity Authority, New Zealand
- Grasim Industreis Ltd - India
- Petron Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Development Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Xindia Steels Limited - India
- Karaikal Port Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Aboitiz Power Corporation - Philippines
- Semirara Mining Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Bharathi Cement Corporation - India
- SMC Global Power, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Bukit Makmur.PT - Indonesia
- Anglo American - United Kingdom
- Sarangani Energy Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Siam City Cement - Thailand
- Samtan Co., Ltd - South Korea
- Indogreen Group - Indonesia
- Coal and Oil Company - UAE
- Africa Commodities Group - South Africa
- Edison Trading Spa - Italy
- Semirara Mining and Power Corporation, Philippines
- Aditya Birla Group - India
- Bangladesh Power Developement Board
- Lanco Infratech Ltd - India
- Meralco Power Generation, Philippines
- Bhoruka Overseas - Indonesia
- Savvy Resources Ltd - HongKong
- Antam Resourcindo - Indonesia
- South Luzon Thermal Energy Corporation
- Bhatia International Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Thai Mozambique Logistica
- Essar Steel Hazira Ltd - India
- Ambuja Cements Ltd - India
- Marubeni Corporation - India
- Gujarat Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Port Waratah Coal Services - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Therma Luzon, Inc, Philippines
- Banpu Public Company Limited - Thailand
- Indian Energy Exchange, India
- Central Electricity Authority - India
- Independent Power Producers Association of India
- Sakthi Sugars Limited - India
- AsiaOL BioFuels Corp., Philippines
- Kideco Jaya Agung - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- The Treasury - Australian Government
- Iligan Light & Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Cement Manufacturers Association - India
- Gujarat Sidhee Cement - India
- Intertek Mineral Services - Indonesia
- Borneo Indobara - Indonesia
- Central Java Power - Indonesia
- GMR Energy Limited - India
- Ministry of Transport, Egypt
- Australian Coal Association
- Global Business Power Corporation, Philippines
- PowerSource Philippines DevCo
- Videocon Industries ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bayan Resources Tbk. - Indonesia
- Sindya Power Generating Company Private Ltd
- Wood Mackenzie - Singapore
- ICICI Bank Limited - India
- Coalindo Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Larsen & Toubro Limited - India
- Dalmia Cement Bharat India
- MS Steel International - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Sical Logistics Limited - India
- Electricity Generating Authority of Thailand
- Attock Cement Pakistan Limited
- The University of Queensland
- McConnell Dowell - Australia
- Cigading International Bulk Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Billiton Holdings Pty Ltd - Australia
- Wilmar Investment Holdings
- Georgia Ports Authority, United States
- Malabar Cements Ltd - India
- Economic Council, Georgia
- Romanian Commodities Exchange
- Medco Energi Mining Internasional
- Tamil Nadu electricity Board
- Formosa Plastics Group - Taiwan
- CNBM International Corporation - China
- Vedanta Resources Plc - India
- Parry Sugars Refinery, India
- Kobexindo Tractors - Indoneisa
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