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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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Tuesday, 05 May 15
FOB RICHARDS BAY COAL SWAPS MOVE NORTH THIS PAST WEEK
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 ...
Monday, 04 May 15
FOB NEWCASTLE COAL SWAP Q1'16 PRICES SLIGHTLY LOWER COMPARED TO Q3'15 PRICE
COALspot.com: API 5 FOB Newcastle Coal swap for Q3’ 2015 delivery gained US$ 1.38 per MT (3.12%) month over month and US$ 0.93 week on week. ...
Monday, 04 May 15
Q1' 2016 CFR SOUTH CHINA THERMAL COAL SWAP CLOSED HIGH THAN 2015 DERIVATIVES
COALspot.com: API 8 CFR South China Coal swap for Q3’ 2015 delivery declined US$ 0.15 (-0.29%) per MT month over month and increased US$ 0.07 ...
Sunday, 03 May 15
DRY BULK INDICES WEAKEN SLIGHTLY THIS WEEK
COALspot.com: The freight market was flat to weak for the week starting from 27 April. The BDI was fell around 2.17% closed at 580 points.
...
Thursday, 30 April 15
IRON ORE EXPORTS: A DANGEROUS RACE? - CLARKSONS
The surge in iron ore exports in recent years has resulted in a significant decrease in iron ore spot prices, which dipped to a ten year low of bel ...
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- Electricity Authority, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Coalindo Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- MS Steel International - UAE
- Maharashtra Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- International Coal Ventures Pvt Ltd - India
- Commonwealth Bank - Australia
- Interocean Group of Companies - India
- London Commodity Brokers - England
- Australian Coal Association
- Bukit Makmur.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Ministry of Mines - Canada
- Global Business Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Cement Manufacturers Association - India
- TNB Fuel Sdn Bhd - Malaysia
- Anglo American - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Parliament of New Zealand
- PNOC Exploration Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Rio Tinto Coal - Australia
- Sojitz Corporation - Japan
- Bhoruka Overseas - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Tamil Nadu electricity Board
- Petron Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Simpson Spence & Young - Indonesia
- CIMB Investment Bank - Malaysia
- Baramulti Group, Indonesia
- Bangladesh Power Developement Board
- Bayan Resources Tbk. - Indonesia
- Riau Bara Harum - Indonesia
- Indian Energy Exchange, India
- The Treasury - Australian Government
- Gujarat Sidhee Cement - India
- Ambuja Cements Ltd - India
- Indian Oil Corporation Limited
- PowerSource Philippines DevCo
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Globalindo Alam Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- GAC Shipping (India) Pvt Ltd
- Asmin Koalindo Tuhup - Indonesia
- Thai Mozambique Logistica
- Agrawal Coal Company - India
- Renaissance Capital - South Africa
- Ministry of Transport, Egypt
- Australian Commodity Traders Exchange
- Larsen & Toubro Limited - India
- Billiton Holdings Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Romanian Commodities Exchange
- Indonesian Coal Mining Association
- Dalmia Cement Bharat India
- Medco Energi Mining Internasional
- Posco Energy - South Korea
- Borneo Indobara - Indonesia
- Banpu Public Company Limited - Thailand
- Siam City Cement - Thailand
- Global Coal Blending Company Limited - Australia
- Kaltim Prima Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- New Zealand Coal & Carbon
- ASAPP Information Group - India
- Oldendorff Carriers - Singapore
- Bukit Baiduri Energy - Indonesia
- SMG Consultants - Indonesia
- Minerals Council of Australia
- Iligan Light & Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Aboitiz Power Corporation - Philippines
- Bharathi Cement Corporation - India
- Salva Resources Pvt Ltd - India
- Georgia Ports Authority, United States
- Port Waratah Coal Services - Australia
- Semirara Mining Corp, Philippines
- Coastal Gujarat Power Limited - India
- Meralco Power Generation, Philippines
- European Bulk Services B.V. - Netherlands
- Sinarmas Energy and Mining - Indonesia
- Carbofer General Trading SA - India
- VISA Power Limited - India
- Indika Energy - Indonesia
- Heidelberg Cement - Germany
- The University of Queensland
- Latin American Coal - Colombia
- Sarangani Energy Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Tata Chemicals Ltd - India
- Straits Asia Resources Limited - Singapore
- Economic Council, Georgia
- Trasteel International SA, Italy
- Parry Sugars Refinery, India
- IHS Mccloskey Coal Group - USA
- ICICI Bank Limited - India
- Videocon Industries ltd - India
- Manunggal Multi Energi - Indonesia
- Lanco Infratech Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Uttam Galva Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Power Finance Corporation Ltd., India
- Pipit Mutiara Jaya. PT, Indonesia
- Binh Thuan Hamico - Vietnam
- SMC Global Power, Philippines
- Siam City Cement PLC, Thailand
- Wilmar Investment Holdings
- Neyveli Lignite Corporation Ltd, - India
- Madhucon Powers Ltd - India
- Sakthi Sugars Limited - India
- Deloitte Consulting - India
- Goldman Sachs - Singapore
- The State Trading Corporation of India Ltd
- IEA Clean Coal Centre - UK
- Therma Luzon, Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Price Waterhouse Coopers - Russia
- Intertek Mineral Services - Indonesia
- Marubeni Corporation - India
- Kideco Jaya Agung - Indonesia
- Mjunction Services Limited - India
- Xindia Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Vizag Seaport Private Limited - India
- Bhatia International Limited - India
- Toyota Tsusho Corporation, Japan
- Standard Chartered Bank - UAE
- Thiess Contractors Indonesia
- Energy Development Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Orica Mining Services - Indonesia
- Antam Resourcindo - Indonesia
- PTC India Limited - India
- Kepco SPC Power Corporation, Philippines
- McConnell Dowell - Australia
- Bulk Trading Sa - Switzerland
- Alfred C Toepfer International GmbH - Germany
- Ministry of Finance - Indonesia
- GVK Power & Infra Limited - India
- Bhushan Steel Limited - India
- TeaM Sual Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Eastern Energy - Thailand
- Central Electricity Authority - India
- SN Aboitiz Power Inc, Philippines
- Edison Trading Spa - Italy
- Kumho Petrochemical, South Korea
- White Energy Company Limited
- India Bulls Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Formosa Plastics Group - Taiwan
- Directorate Of Revenue Intelligence - India
- OPG Power Generation Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Merrill Lynch Commodities Europe
- Planning Commission, India
- Central Java Power - Indonesia
- Singapore Mercantile Exchange
- Barasentosa Lestari - Indonesia
- Sical Logistics Limited - India
- Independent Power Producers Association of India
- Indogreen Group - Indonesia
- Makarim & Taira - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Metalloyd Limited - United Kingdom
- South Luzon Thermal Energy Corporation
- Kalimantan Lumbung Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- AsiaOL BioFuels Corp., Philippines
- Krishnapatnam Port Company Ltd. - India
- Kobexindo Tractors - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Star Paper Mills Limited - India
- Mintek Dendrill Indonesia
- Aditya Birla Group - India
- Jaiprakash Power Ventures ltd
- Energy Link Ltd, New Zealand
- Orica Australia Pty. Ltd.
- Holcim Trading Pte Ltd - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercuria Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Grasim Industreis Ltd - India
- Eastern Coal Council - USA
- Malabar Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Mercator Lines Limited - India
- Samtan Co., Ltd - South Korea
- Altura Mining Limited, Indonesia
- Wood Mackenzie - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- CNBM International Corporation - China
- Attock Cement Pakistan Limited
- Africa Commodities Group - South Africa
- Kapuas Tunggal Persada - Indonesia
- Coal and Oil Company - UAE
- Semirara Mining and Power Corporation, Philippines
- Chamber of Mines of South Africa
- Gujarat Mineral Development Corp Ltd - India
- Vedanta Resources Plc - India
- Rashtriya Ispat Nigam Limited - India
- Karaikal Port Pvt Ltd - India
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