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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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Thursday, 30 April 15
IRON ORE PLAYS EXPECTED TO SHAPE UP MAY DRY BULK SCHEDULE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Market plays in the iron ore commodities’ markets, are expected to carve out the future demand for the shipping industry as well, said Allied ...
Wednesday, 29 April 15
MARKET INSIGHT - INTERMODAL
The figures of China’s slowing down imports of coking coal for the first quarter of the year are coming to confirm what everybody was expecti ...
Wednesday, 29 April 15
SHIPBUILDERS START OFFERING DISCOUNTS FOR DRY BULK NEWBUILDINGS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
It took a while, but now it appears that some shipbuilders are beginning to adjust their price lists to the new grim reality of the dry bulk market ...
Tuesday, 28 April 15
FOB INDONESIA COAL SWAP DECLINED M-O-M; INCREASED W-O-W
COALspot.com: Indonesian coal swap for delivery Q2 2015 gained week over week but declined month on month.
The Q2 swap was declined US$ 0.15 ( ...
Tuesday, 28 April 15
Q2' 15 FOB RICHARDS BAY COAL SWAP CLOSED 4.18% HIGHER FROM MONTH AGO
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q2' 2015 increased month over month and slightly week over week.
The Q2 swap ha ...
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- VISA Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kideco Jaya Agung - Indonesia
- Sindya Power Generating Company Private Ltd
- Electricity Generating Authority of Thailand
- Ambuja Cements Ltd - India
- Australian Commodity Traders Exchange
- London Commodity Brokers - England
- Maharashtra Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Kohat Cement Company Ltd. - Pakistan
- Jindal Steel & Power Ltd - India
- GAC Shipping (India) Pvt Ltd
- Marubeni Corporation - India
- Savvy Resources Ltd - HongKong
- Rashtriya Ispat Nigam Limited - India
- Meralco Power Generation, Philippines
- Vedanta Resources Plc - India
- Borneo Indobara - Indonesia
- Parry Sugars Refinery, India
- Tata Chemicals Ltd - India
- Indogreen Group - Indonesia
- Wilmar Investment Holdings
- Eastern Coal Council - USA
- Siam City Cement - Thailand
- Gujarat Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- Kaltim Prima Coal - Indonesia
- Australian Coal Association
- Chamber of Mines of South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Gujarat Sidhee Cement - India
- Energy Link Ltd, New Zealand
- Bharathi Cement Corporation - India
- Power Finance Corporation Ltd., India
- Bukit Makmur.PT - Indonesia
- Bhushan Steel Limited - India
- Baramulti Group, Indonesia
- Banpu Public Company Limited - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sical Logistics Limited - India
- Directorate General of MIneral and Coal - Indonesia
- PowerSource Philippines DevCo
- The Treasury - Australian Government
- Sojitz Corporation - Japan
- TNB Fuel Sdn Bhd - Malaysia
- The State Trading Corporation of India Ltd
- Heidelberg Cement - Germany
- Sarangani Energy Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Bhatia International Limited - India
- Samtan Co., Ltd - South Korea
- Carbofer General Trading SA - India
- Pendopo Energi Batubara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- McConnell Dowell - Australia
- Timah Investasi Mineral - Indoneisa
- Mercuria Energy - Indonesia
- Antam Resourcindo - Indonesia
- Indonesian Coal Mining Association
- Riau Bara Harum - Indonesia
- Thai Mozambique Logistica
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coastal Gujarat Power Limited - India
- India Bulls Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- CIMB Investment Bank - Malaysia
- IHS Mccloskey Coal Group - USA
- Semirara Mining Corp, Philippines
- Trasteel International SA, Italy
- The University of Queensland
- Renaissance Capital - South Africa
- Latin American Coal - Colombia
- Pipit Mutiara Jaya. PT, Indonesia
- Central Java Power - Indonesia
- Ministry of Mines - Canada
- Rio Tinto Coal - Australia
- Independent Power Producers Association of India
- Thiess Contractors Indonesia
- SMG Consultants - Indonesia
- Indian Energy Exchange, India
- CNBM International Corporation - China
- Central Electricity Authority - India
- Vizag Seaport Private Limited - India
- Agrawal Coal Company - India
- South Luzon Thermal Energy Corporation
- Romanian Commodities Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Bulk Trading Sa - Switzerland
- Indika Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Mintek Dendrill Indonesia
- Interocean Group of Companies - India
- San Jose City I Power Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Merrill Lynch Commodities Europe
- New Zealand Coal & Carbon
- Malabar Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- White Energy Company Limited
- Kepco SPC Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Intertek Mineral Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Cement Manufacturers Association - India
- Ministry of Transport, Egypt
- Orica Australia Pty. Ltd.
- Global Business Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Uttam Galva Steels Limited - India
- Attock Cement Pakistan Limited
- Karaikal Port Pvt Ltd - India
- Indian Oil Corporation Limited
- Straits Asia Resources Limited - Singapore
- Altura Mining Limited, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Mjunction Services Limited - India
- Leighton Contractors Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- Dalmia Cement Bharat India
- Coalindo Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Orica Mining Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Commonwealth Bank - Australia
- Oldendorff Carriers - Singapore
- Meenaskhi Energy Private Limited - India
- Simpson Spence & Young - Indonesia
- LBH Netherlands Bv - Netherlands
- Bayan Resources Tbk. - Indonesia
- PTC India Limited - India
- PNOC Exploration Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Deloitte Consulting - India
- Economic Council, Georgia
- Mercator Lines Limited - India
- Salva Resources Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Bukit Baiduri Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- International Coal Ventures Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- ICICI Bank Limited - India
- Iligan Light & Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Goldman Sachs - Singapore
- GVK Power & Infra Limited - India
- Bangladesh Power Developement Board
- Kumho Petrochemical, South Korea
- Semirara Mining and Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Xindia Steels Limited - India
- Africa Commodities Group - South Africa
- Aditya Birla Group - India
- Jorong Barutama Greston.PT - Indonesia
- Georgia Ports Authority, United States
- Parliament of New Zealand
- Formosa Plastics Group - Taiwan
- Port Waratah Coal Services - Australia
- Therma Luzon, Inc, Philippines
- Jaiprakash Power Ventures ltd
- Grasim Industreis Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Price Waterhouse Coopers - Russia
- Kobexindo Tractors - Indoneisa
- ASAPP Information Group - India
- Posco Energy - South Korea
- Bhoruka Overseas - Indonesia
- SMC Global Power, Philippines
- Kapuas Tunggal Persada - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Anglo American - United Kingdom
- Planning Commission, India
- Minerals Council of Australia
- Aboitiz Power Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- MS Steel International - UAE
- Krishnapatnam Port Company Ltd. - India
- Sakthi Sugars Limited - India
- Larsen & Toubro Limited - India
- Metalloyd Limited - United Kingdom
- Star Paper Mills Limited - India
- Videocon Industries ltd - India
- Cigading International Bulk Terminal - Indonesia
- Coal and Oil Company - UAE
- OPG Power Generation Pvt Ltd - India
- Eastern Energy - Thailand
- Siam City Cement PLC, Thailand
- SN Aboitiz Power Inc, Philippines
- Edison Trading Spa - Italy
- Asmin Koalindo Tuhup - Indonesia
- Global Green Power PLC Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Standard Chartered Bank - UAE
- Holcim Trading Pte Ltd - Singapore
- Indo Tambangraya Megah - Indonesia
- Globalindo Alam Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- GMR Energy Limited - India
- Manunggal Multi Energi - Indonesia
- Ministry of Finance - Indonesia
- Kartika Selabumi Mining - Indonesia
- Energy Development Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Wood Mackenzie - Singapore
- Chettinad Cement Corporation Ltd - India
- Petron Corporation, Philippines
- Electricity Authority, New Zealand
- Medco Energi Mining Internasional
- Makarim & Taira - Indonesia
- Singapore Mercantile Exchange
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