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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, 06 May 15
COMBINATION OF HOLIDAYS AND A SHAKY MARKET PUT ADDITIONAL PRESSURE ON RATES
COALspot.com: The combination of holidays and a shaky market is always a recipe for additional pressure on rates and last week was no exception. Wi ...
Wednesday, 06 May 15
SHIPPING MARKET INSIGHT - GEORGE ILIOPOULOS
The first four months of 2015 are now behind us and they make up for a decent amount of time to look back and assess how the year is evolving so fa ...
Tuesday, 05 May 15
MIFA BERSAUDARA UNIT OF ABM INVESTAMA STARTS OPERATING $200M COAL MINE IN ACEH
Reswara Minergi Hartama, a coal mining unit of coal miner ABM Investama known as known as Reswara, inaugurated a $200 million integrated coal minin ...
Tuesday, 05 May 15
FREIGHT DERIVATIVE VOLUMES REACHED TOTALED 14,154 CONTRACTS IN APRIL - SGX
COALspot.com: “Our unique suite of freight and bulk commodity products provides market participants with a wide range of trading strategies a ...
Tuesday, 05 May 15
OVERSUPPLY PUTTING INDONESIAN COAL PRICES UNDER PRESSURE
COALspot.com: Indonesian coal swap for delivery Q3 2015 lost week over week and month on month, this past week.
The Q3 swap was declined US$ 1 ...
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- Coal and Oil Company - UAE
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- Sical Logistics Limited - India
- Semirara Mining Corp, Philippines
- Vizag Seaport Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Straits Asia Resources Limited - Singapore
- Agrawal Coal Company - India
- McConnell Dowell - Australia
- Directorate Of Revenue Intelligence - India
- Intertek Mineral Services - Indonesia
- Star Paper Mills Limited - India
- Iligan Light & Power Inc, Philippines
- Parry Sugars Refinery, India
- Bharathi Cement Corporation - India
- Parliament of New Zealand
- Semirara Mining and Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Grasim Industreis Ltd - India
- Anglo American - United Kingdom
- New Zealand Coal & Carbon
- Indonesian Coal Mining Association
- Holcim Trading Pte Ltd - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- ICICI Bank Limited - India
- Videocon Industries ltd - India
- Indo Tambangraya Megah - Indonesia
- Thai Mozambique Logistica
- IEA Clean Coal Centre - UK
- Jindal Steel & Power Ltd - India
- Toyota Tsusho Corporation, Japan
- Oldendorff Carriers - Singapore
- Rio Tinto Coal - Australia
- Australian Coal Association
- Kalimantan Lumbung Energi - Indonesia
- Dalmia Cement Bharat India
- Posco Energy - South Korea
- London Commodity Brokers - England
- Miang Besar Coal Terminal - Indonesia
- Trasteel International SA, Italy
- Romanian Commodities Exchange
- Petron Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- India Bulls Power Limited - India
- TeaM Sual Corporation - Philippines
- Borneo Indobara - Indonesia
- Wood Mackenzie - Singapore
- Banpu Public Company Limited - Thailand
- Billiton Holdings Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Marubeni Corporation - India
- GVK Power & Infra Limited - India
- VISA Power Limited - India
- Malabar Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- Ceylon Electricity Board - Sri Lanka
- Alfred C Toepfer International GmbH - Germany
- Binh Thuan Hamico - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Georgia Ports Authority, United States
- Ministry of Mines - Canada
- Orica Mining Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Xindia Steels Limited - India
- Interocean Group of Companies - India
- Kapuas Tunggal Persada - Indonesia
- Mercuria Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Cement Manufacturers Association - India
- Minerals Council of Australia
- Metalloyd Limited - United Kingdom
- Bhushan Steel Limited - India
- Coastal Gujarat Power Limited - India
- Pendopo Energi Batubara - Indonesia
- SN Aboitiz Power Inc, Philippines
- PowerSource Philippines DevCo
- Sarangani Energy Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The University of Queensland
- Renaissance Capital - South Africa
- Chettinad Cement Corporation Ltd - India
- PNOC Exploration Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- SMG Consultants - Indonesia
- Bangladesh Power Developement Board
- Pipit Mutiara Jaya. PT, Indonesia
- Vedanta Resources Plc - India
- Bayan Resources Tbk. - Indonesia
- Meralco Power Generation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Deloitte Consulting - India
- Manunggal Multi Energi - Indonesia
- Larsen & Toubro Limited - India
- Mintek Dendrill Indonesia
- Indika Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Globalindo Alam Lestari - Indonesia
- Australian Commodity Traders Exchange
- Africa Commodities Group - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- PTC India Limited - India
- SMC Global Power, Philippines
- Indogreen Group - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Global Business Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Power Finance Corporation Ltd., India
- Kohat Cement Company Ltd. - Pakistan
- Energy Link Ltd, New Zealand
- Wilmar Investment Holdings
- Madhucon Powers Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Indian Oil Corporation Limited
- Port Waratah Coal Services - Australia
- Lanco Infratech Ltd - India
- Baramulti Group, Indonesia
- Kaltim Prima Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Ministry of Transport, Egypt
- Kumho Petrochemical, South Korea
- Eastern Coal Council - USA
- Krishnapatnam Port Company Ltd. - India
- Sojitz Corporation - Japan
- Bukit Baiduri Energy - Indonesia
- Gujarat Sidhee Cement - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Merrill Lynch Commodities Europe
- Chamber of Mines of South Africa
- Barasentosa Lestari - Indonesia
- Ambuja Cements Ltd - India
- Tamil Nadu electricity Board
- Price Waterhouse Coopers - Russia
- Bhoruka Overseas - Indonesia
- Makarim & Taira - Indonesia
- Goldman Sachs - Singapore
- Riau Bara Harum - Indonesia
- Therma Luzon, Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Mercator Lines Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Edison Trading Spa - Italy
- Attock Cement Pakistan Limited
- Medco Energi Mining Internasional
- Siam City Cement PLC, Thailand
- Central Java Power - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Coalindo Energy - Indonesia
- Siam City Cement - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Energy Exchange, India
- MS Steel International - UAE
- Independent Power Producers Association of India
- San Jose City I Power Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Thiess Contractors Indonesia
- IHS Mccloskey Coal Group - USA
- CIMB Investment Bank - Malaysia
- European Bulk Services B.V. - Netherlands
- Uttam Galva Steels Limited - India
- Formosa Plastics Group - Taiwan
- Standard Chartered Bank - UAE
- Kideco Jaya Agung - Indonesia
- Aboitiz Power Corporation - Philippines
- Planning Commission, India
- Kepco SPC Power Corporation, Philippines
- CNBM International Corporation - China
- Altura Mining Limited, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Essar Steel Hazira Ltd - India
- Singapore Mercantile Exchange
- Orica Australia Pty. Ltd.
- Kartika Selabumi Mining - Indonesia
- Latin American Coal - Colombia
- International Coal Ventures Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Economic Council, Georgia
- OPG Power Generation Pvt Ltd - India
- Mjunction Services Limited - India
- Sakthi Sugars Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Energy Development Corp, Philippines
- Tata Chemicals Ltd - India
- Meenaskhi Energy Private Limited - India
- Aditya Birla Group - India
- Savvy Resources Ltd - HongKong
- Global Coal Blending Company Limited - Australia
- ASAPP Information Group - India
- Ind-Barath Power Infra Limited - India
- Simpson Spence & Young - Indonesia
- South Luzon Thermal Energy Corporation
- Timah Investasi Mineral - Indoneisa
- The Treasury - Australian Government
- Eastern Energy - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- GMR Energy Limited - India
- Electricity Authority, New Zealand
- Antam Resourcindo - Indonesia
- Karaikal Port Pvt Ltd - India
- White Energy Company Limited
- Samtan Co., Ltd - South Korea
- Commonwealth Bank - Australia
- Bulk Trading Sa - Switzerland
- Global Green Power PLC Corporation, Philippines
- Heidelberg Cement - Germany
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