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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, 27 April 15
U.S. COAL PRODUCTION FELL BELOW ONE BILLION SHORT TONS IN 2013 - EIA
COALspot.com: For the first time in two decades, U.S. coal production fell below one billion short tons to 984.8 million short tons in 2013 from 1, ...
Monday, 27 April 15
Q3' 2015 FOB NEWCASTLE COAL SWAP CLOSED 3.69% LOWER THAN Q2' 2015 PRICE OF $46.36
COALspot.com: API 5 FOB Newcastle Coal swap for Q2’ 2015 delivery gained US$ 0.19 per MT (0.41%) month over month and US$ 0.78 week on week. ...
Monday, 27 April 15
CFR SOUTH CHINA COAL SWAP SLOWLY IMPROVED THIS PAST WEEK
COALspot.com: API 8 CFR South China Coal swap for Q2’ 2015 delivery declined US$ 0.74 (-1.41%) per MT month over month and increased US$ 0.43 ...
Sunday, 26 April 15
DRY BULK MARKET KEPT IMPROVING THIS WEEK; CAPES AND PANAMAXES SHOW A SLIGHT PICKUP IN RATES
COALspot.com: The freight market was stable this week as BDI closed at 600 points after improving 0.50 percent week over week.
The cape ...
Friday, 24 April 15
CHINA IRON ORE MINE CLOSURES TO SLOW ON GOVERNMENT SUPPORT - FITCH
Fitch Ratings expects fewer Chinese iron ore mine closures in 2015 as the government takes steps to support the industry, which has been struggling ...
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- Indo Tambangraya Megah - Indonesia
- CIMB Investment Bank - Malaysia
- Economic Council, Georgia
- Sindya Power Generating Company Private Ltd
- Parry Sugars Refinery, India
- Savvy Resources Ltd - HongKong
- International Coal Ventures Pvt Ltd - India
- Makarim & Taira - Indonesia
- Miang Besar Coal Terminal - Indonesia
- GVK Power & Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- Samtan Co., Ltd - South Korea
- Holcim Trading Pte Ltd - Singapore
- Borneo Indobara - Indonesia
- Aboitiz Power Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Dalmia Cement Bharat India
- Rio Tinto Coal - Australia
- Georgia Ports Authority, United States
- Siam City Cement PLC, Thailand
- Chettinad Cement Corporation Ltd - India
- PTC India Limited - India
- Rashtriya Ispat Nigam Limited - India
- Kobexindo Tractors - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Jindal Steel & Power Ltd - India
- Siam City Cement - Thailand
- Marubeni Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- San Jose City I Power Corp, Philippines
- Goldman Sachs - Singapore
- IHS Mccloskey Coal Group - USA
- Ministry of Mines - Canada
- Meralco Power Generation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Commonwealth Bank - Australia
- Global Green Power PLC Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Global Business Power Corporation, Philippines
- Standard Chartered Bank - UAE
- IEA Clean Coal Centre - UK
- Sakthi Sugars Limited - India
- GAC Shipping (India) Pvt Ltd
- Sojitz Corporation - Japan
- Ceylon Electricity Board - Sri Lanka
- SMC Global Power, Philippines
- Barasentosa Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Deloitte Consulting - India
- Electricity Generating Authority of Thailand
- Bhoruka Overseas - Indonesia
- Madhucon Powers Ltd - India
- Semirara Mining Corp, Philippines
- Coastal Gujarat Power Limited - India
- Bulk Trading Sa - Switzerland
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Mineral Development Corp Ltd - India
- Intertek Mineral Services - Indonesia
- Parliament of New Zealand
- CNBM International Corporation - China
- South Luzon Thermal Energy Corporation
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Indian Oil Corporation Limited
- Ambuja Cements Ltd - India
- ASAPP Information Group - India
- Kaltim Prima Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Bayan Resources Tbk. - Indonesia
- Singapore Mercantile Exchange
- Pendopo Energi Batubara - Indonesia
- Mjunction Services Limited - India
- Oldendorff Carriers - Singapore
- Wilmar Investment Holdings
- Independent Power Producers Association of India
- TeaM Sual Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Grasim Industreis Ltd - India
- Gujarat Sidhee Cement - India
- MS Steel International - UAE
- Petron Corporation, Philippines
- Mercator Lines Limited - India
- Malabar Cements Ltd - India
- Mercuria Energy - Indonesia
- Cement Manufacturers Association - India
- Central Electricity Authority - India
- GMR Energy Limited - India
- Iligan Light & Power Inc, Philippines
- Indian Energy Exchange, India
- Power Finance Corporation Ltd., India
- Kideco Jaya Agung - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Latin American Coal - Colombia
- Ind-Barath Power Infra Limited - India
- Orica Australia Pty. Ltd.
- Ministry of Transport, Egypt
- Star Paper Mills Limited - India
- PowerSource Philippines DevCo
- Interocean Group of Companies - India
- VISA Power Limited - India
- Riau Bara Harum - Indonesia
- Energy Development Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Aditya Birla Group - India
- Therma Luzon, Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Indogreen Group - Indonesia
- Agrawal Coal Company - India
- Eastern Energy - Thailand
- Maheswari Brothers Coal Limited - India
- Wood Mackenzie - Singapore
- The State Trading Corporation of India Ltd
- Minerals Council of Australia
- Baramulti Group, Indonesia
- Heidelberg Cement - Germany
- Tamil Nadu electricity Board
- Ministry of Finance - Indonesia
- Romanian Commodities Exchange
- Electricity Authority, New Zealand
- Antam Resourcindo - Indonesia
- European Bulk Services B.V. - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Makmur.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Essar Steel Hazira Ltd - India
- Meenaskhi Energy Private Limited - India
- Central Java Power - Indonesia
- Edison Trading Spa - Italy
- Sical Logistics Limited - India
- Alfred C Toepfer International GmbH - Germany
- Binh Thuan Hamico - Vietnam
- Banpu Public Company Limited - Thailand
- Kumho Petrochemical, South Korea
- Asmin Koalindo Tuhup - Indonesia
- Uttam Galva Steels Limited - India
- SMG Consultants - Indonesia
- Global Coal Blending Company Limited - Australia
- Lanco Infratech Ltd - India
- Kepco SPC Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- The Treasury - Australian Government
- Gujarat Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Simpson Spence & Young - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- ICICI Bank Limited - India
- LBH Netherlands Bv - Netherlands
- Eastern Coal Council - USA
- Straits Asia Resources Limited - Singapore
- Attock Cement Pakistan Limited
- Toyota Tsusho Corporation, Japan
- Price Waterhouse Coopers - Russia
- GN Power Mariveles Coal Plant, Philippines
- Thiess Contractors Indonesia
- Australian Coal Association
- Manunggal Multi Energi - Indonesia
- Carbofer General Trading SA - India
- Trasteel International SA, Italy
- Xindia Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Salva Resources Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- Planning Commission, India
- India Bulls Power Limited - India
- Metalloyd Limited - United Kingdom
- Chamber of Mines of South Africa
- Anglo American - United Kingdom
- McConnell Dowell - Australia
- Renaissance Capital - South Africa
- Leighton Contractors Pty Ltd - Australia
- Africa Commodities Group - South Africa
- Bhatia International Limited - India
- Tata Chemicals Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Merrill Lynch Commodities Europe
- Coal and Oil Company - UAE
- Indonesian Coal Mining Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Medco Energi Mining Internasional
- White Energy Company Limited
- New Zealand Coal & Carbon
- Port Waratah Coal Services - Australia
- Videocon Industries ltd - India
- Vizag Seaport Private Limited - India
- Sarangani Energy Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Thai Mozambique Logistica
- Kapuas Tunggal Persada - Indonesia
- Bangladesh Power Developement Board
- Bhushan Steel Limited - India
- Bukit Baiduri Energy - Indonesia
- Posco Energy - South Korea
- Mintek Dendrill Indonesia
- OPG Power Generation Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Indika Energy - Indonesia
- Coalindo Energy - Indonesia
- The University of Queensland
- London Commodity Brokers - England
- Neyveli Lignite Corporation Ltd, - India
- Larsen & Toubro Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- Orica Mining Services - Indonesia
- Bharathi Cement Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Vedanta Resources Plc - India
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