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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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Friday, 24 April 15
IS INDIA THE 'NEW CHINA' WHEN IT COMES TO THE DRY BULK MARKET? - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has been feeling the “heat” of China’s slowdown and together with the industry’s own failings, with ove ...
Friday, 24 April 15
GLOBAL STEEL PRODUCTION OUTSIDE OF CHINA CONTINUES TO FARE VERY POORLY - JEFFREY LANDSBERG
COALspot.com: Data released this week showed that global crude steel production totaled approximately 138.05 million tons in March.
Wha ...
Friday, 24 April 15
WEEKLY U.S. COAL PRODUCTION ESTIMATE FALLS 5.7% FROM LAST WEEK
COALspot.com – United States the second largest coal producer in the world has produced approximately totaled an estimated 17.0 million short ...
Wednesday, 22 April 15
PANAMAX : ATLANTIC HOLDING ON TO THE GAINS OF THE PREVIOUS WEEK; PACIFIC BUSINESS SLID QUIETLY
COALspot.com: The Dry Bulk market managed to close off the week on a positive note last Friday, while as opposed to what we have been used to, it w ...
Wednesday, 22 April 15
TANKER MARKET INSIGHT - STRATOS TINIAKOS
The current environment we experience as a result of low crude oil prices is characterized by the increased demand for petroleum products in OECD c ...
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- Chettinad Cement Corporation Ltd - India
- Sical Logistics Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bulk Trading Sa - Switzerland
- Riau Bara Harum - Indonesia
- Heidelberg Cement - Germany
- Independent Power Producers Association of India
- Medco Energi Mining Internasional
- India Bulls Power Limited - India
- Electricity Authority, New Zealand
- Merrill Lynch Commodities Europe
- International Coal Ventures Pvt Ltd - India
- Cement Manufacturers Association - India
- AsiaOL BioFuels Corp., Philippines
- CIMB Investment Bank - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- New Zealand Coal & Carbon
- Bharathi Cement Corporation - India
- South Luzon Thermal Energy Corporation
- Leighton Contractors Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Samtan Co., Ltd - South Korea
- Kideco Jaya Agung - Indonesia
- Tamil Nadu electricity Board
- McConnell Dowell - Australia
- Oldendorff Carriers - Singapore
- Semirara Mining Corp, Philippines
- Xindia Steels Limited - India
- Siam City Cement - Thailand
- Toyota Tsusho Corporation, Japan
- Bangladesh Power Developement Board
- Bhushan Steel Limited - India
- Edison Trading Spa - Italy
- Kumho Petrochemical, South Korea
- Makarim & Taira - Indonesia
- Manunggal Multi Energi - Indonesia
- Dalmia Cement Bharat India
- Sree Jayajothi Cements Limited - India
- Indika Energy - Indonesia
- Altura Mining Limited, Indonesia
- Indian Energy Exchange, India
- Formosa Plastics Group - Taiwan
- Binh Thuan Hamico - Vietnam
- Pendopo Energi Batubara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- SN Aboitiz Power Inc, Philippines
- Marubeni Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- Indonesian Coal Mining Association
- Orica Australia Pty. Ltd.
- SMC Global Power, Philippines
- Banpu Public Company Limited - Thailand
- Wood Mackenzie - Singapore
- Petron Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- PNOC Exploration Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Mjunction Services Limited - India
- Wilmar Investment Holdings
- Madhucon Powers Ltd - India
- Vizag Seaport Private Limited - India
- Bhoruka Overseas - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Globalindo Alam Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coastal Gujarat Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- Thai Mozambique Logistica
- Meralco Power Generation, Philippines
- Singapore Mercantile Exchange
- Lanco Infratech Ltd - India
- Gujarat Sidhee Cement - India
- Global Coal Blending Company Limited - Australia
- Larsen & Toubro Limited - India
- Malabar Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- CNBM International Corporation - China
- VISA Power Limited - India
- Anglo American - United Kingdom
- Indian Oil Corporation Limited
- Siam City Cement PLC, Thailand
- Power Finance Corporation Ltd., India
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- The State Trading Corporation of India Ltd
- Rashtriya Ispat Nigam Limited - India
- Chamber of Mines of South Africa
- PowerSource Philippines DevCo
- Agrawal Coal Company - India
- Orica Mining Services - Indonesia
- Commonwealth Bank - Australia
- Kapuas Tunggal Persada - Indonesia
- Energy Link Ltd, New Zealand
- Carbofer General Trading SA - India
- Renaissance Capital - South Africa
- European Bulk Services B.V. - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Economic Council, Georgia
- Tata Chemicals Ltd - India
- Latin American Coal - Colombia
- Sindya Power Generating Company Private Ltd
- ASAPP Information Group - India
- Bhatia International Limited - India
- Maheswari Brothers Coal Limited - India
- Electricity Generating Authority of Thailand
- Krishnapatnam Port Company Ltd. - India
- Bukit Baiduri Energy - Indonesia
- Africa Commodities Group - South Africa
- Australian Commodity Traders Exchange
- Eastern Coal Council - USA
- Iligan Light & Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Barasentosa Lestari - Indonesia
- Mercuria Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Goldman Sachs - Singapore
- Ministry of Mines - Canada
- Central Java Power - Indonesia
- Georgia Ports Authority, United States
- The University of Queensland
- Kohat Cement Company Ltd. - Pakistan
- Central Electricity Authority - India
- Simpson Spence & Young - Indonesia
- Deloitte Consulting - India
- Salva Resources Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Jaiprakash Power Ventures ltd
- Star Paper Mills Limited - India
- Sarangani Energy Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Holcim Trading Pte Ltd - Singapore
- Rio Tinto Coal - Australia
- Posco Energy - South Korea
- GMR Energy Limited - India
- Planning Commission, India
- Directorate Of Revenue Intelligence - India
- Grasim Industreis Ltd - India
- Thiess Contractors Indonesia
- San Jose City I Power Corp, Philippines
- Minerals Council of Australia
- White Energy Company Limited
- Global Business Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Standard Chartered Bank - UAE
- Kepco SPC Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- PTC India Limited - India
- Indogreen Group - Indonesia
- Karaikal Port Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- The Treasury - Australian Government
- Romanian Commodities Exchange
- IHS Mccloskey Coal Group - USA
- Energy Development Corp, Philippines
- ICICI Bank Limited - India
- Ministry of Finance - Indonesia
- Antam Resourcindo - Indonesia
- Essar Steel Hazira Ltd - India
- Coal and Oil Company - UAE
- OPG Power Generation Pvt Ltd - India
- Aditya Birla Group - India
- Vijayanagar Sugar Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Vedanta Resources Plc - India
- Ceylon Electricity Board - Sri Lanka
- Kartika Selabumi Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Ambuja Cements Ltd - India
- Sakthi Sugars Limited - India
- Mintek Dendrill Indonesia
- MS Steel International - UAE
- Trasteel International SA, Italy
- Borneo Indobara - Indonesia
- Ind-Barath Power Infra Limited - India
- Parliament of New Zealand
- Timah Investasi Mineral - Indoneisa
- Bukit Makmur.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- LBH Netherlands Bv - Netherlands
- Ministry of Transport, Egypt
- Sojitz Corporation - Japan
- TeaM Sual Corporation - Philippines
- GVK Power & Infra Limited - India
- Intertek Mineral Services - Indonesia
- Australian Coal Association
- PetroVietnam Power Coal Import and Supply Company
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Attock Cement Pakistan Limited
- SMG Consultants - Indonesia
- Bayan Resources Tbk. - Indonesia
- Baramulti Group, Indonesia
- Mercator Lines Limited - India
- Videocon Industries ltd - India
- Coalindo Energy - Indonesia
- IEA Clean Coal Centre - UK
- London Commodity Brokers - England
- Uttam Galva Steels Limited - India
- Interocean Group of Companies - India
- Price Waterhouse Coopers - Russia
- Eastern Energy - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Kobexindo Tractors - Indoneisa
- Parry Sugars Refinery, India
- Bahari Cakrawala Sebuku - Indonesia
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