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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, 21 April 15
SUB-BIT FOB INDONESIA COAL SWAP: GAINED W-O-W; DECLINED M-O-M
COALspot.com: Indonesian coal swap for delivery Q2 2015 gained week over week and declined month on month.
The Q2 swap was declined US$ 1.75 ( ...
Tuesday, 21 April 15
FOB RICHARDS BAY COAL SWAP MOVE UP SLIGHTLY
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q2' 2015 increased slightly month over month.
The Q2 swap has increased US$ 0.2 ...
Monday, 20 April 15
BUKIT ASAM TAKES OVER STAKE IN JV FROM RAJAWALI - JP
State-owned coal miner PT Bukit Asam (PTBA) announced Friday that it had taken over almost the entire stake in a joint venture (JV) that it created ...
Monday, 20 April 15
FOB NEWCASTLE COAL SWAP GAINED WEEK ON WEEK
COALspot.com: API 5 FOB Newcastle Coal swap for Q2’ 2015 delivery declined US$ 3.54 per MT (-7.21%) month over month and gained US$ 0.30 week ...
Monday, 20 April 15
Q4' 2015 API 8 CFR SOUTH CHINA COAL SWAP CLOSED US$ 50.28 PMT
COALspot.com: API 8 CFR South China Coal swap for Q2’ 2015 delivery declined US$ 4.03 (-7.28%) per MT month over month and US$ 0.05 (-0 ...
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- Videocon Industries ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Eastern Coal Council - USA
- Pipit Mutiara Jaya. PT, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bhushan Steel Limited - India
- Mercator Lines Limited - India
- GMR Energy Limited - India
- IEA Clean Coal Centre - UK
- CIMB Investment Bank - Malaysia
- Attock Cement Pakistan Limited
- Electricity Authority, New Zealand
- Malabar Cements Ltd - India
- Uttam Galva Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Coalindo Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- TNB Fuel Sdn Bhd - Malaysia
- Jindal Steel & Power Ltd - India
- Simpson Spence & Young - Indonesia
- Bhatia International Limited - India
- Maheswari Brothers Coal Limited - India
- Aditya Birla Group - India
- Directorate General of MIneral and Coal - Indonesia
- Standard Chartered Bank - UAE
- Sical Logistics Limited - India
- Trasteel International SA, Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMG Consultants - Indonesia
- Formosa Plastics Group - Taiwan
- Oldendorff Carriers - Singapore
- Orica Australia Pty. Ltd.
- Chettinad Cement Corporation Ltd - India
- San Jose City I Power Corp, Philippines
- Siam City Cement - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Energy Link Ltd, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- Eastern Energy - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Rashtriya Ispat Nigam Limited - India
- Miang Besar Coal Terminal - Indonesia
- Cement Manufacturers Association - India
- Georgia Ports Authority, United States
- LBH Netherlands Bv - Netherlands
- Sakthi Sugars Limited - India
- Toyota Tsusho Corporation, Japan
- Wood Mackenzie - Singapore
- Rio Tinto Coal - Australia
- Parliament of New Zealand
- Australian Coal Association
- Tata Chemicals Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Medco Energi Mining Internasional
- AsiaOL BioFuels Corp., Philippines
- Sojitz Corporation - Japan
- Coal and Oil Company - UAE
- Madhucon Powers Ltd - India
- Interocean Group of Companies - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Globalindo Alam Lestari - Indonesia
- Altura Mining Limited, Indonesia
- PTC India Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Aboitiz Power Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Energy Development Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- India Bulls Power Limited - India
- Australian Commodity Traders Exchange
- GN Power Mariveles Coal Plant, Philippines
- Anglo American - United Kingdom
- Samtan Co., Ltd - South Korea
- Africa Commodities Group - South Africa
- Xindia Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- IHS Mccloskey Coal Group - USA
- Singapore Mercantile Exchange
- Ceylon Electricity Board - Sri Lanka
- Mercuria Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Larsen & Toubro Limited - India
- Price Waterhouse Coopers - Russia
- Bangladesh Power Developement Board
- ASAPP Information Group - India
- Romanian Commodities Exchange
- Vedanta Resources Plc - India
- The Treasury - Australian Government
- White Energy Company Limited
- Heidelberg Cement - Germany
- Meenaskhi Energy Private Limited - India
- Planning Commission, India
- Kaltim Prima Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- OPG Power Generation Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- MS Steel International - UAE
- Mintek Dendrill Indonesia
- Dalmia Cement Bharat India
- Vizag Seaport Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Indika Energy - Indonesia
- Commonwealth Bank - Australia
- Timah Investasi Mineral - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Agrawal Coal Company - India
- Indogreen Group - Indonesia
- Kartika Selabumi Mining - Indonesia
- PowerSource Philippines DevCo
- Indian Oil Corporation Limited
- Electricity Generating Authority of Thailand
- SN Aboitiz Power Inc, Philippines
- Bharathi Cement Corporation - India
- Goldman Sachs - Singapore
- Sarangani Energy Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining and Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Central Electricity Authority - India
- Salva Resources Pvt Ltd - India
- Star Paper Mills Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tamil Nadu electricity Board
- Orica Mining Services - Indonesia
- Kideco Jaya Agung - Indonesia
- The University of Queensland
- Coastal Gujarat Power Limited - India
- Ministry of Finance - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bhoruka Overseas - Indonesia
- Edison Trading Spa - Italy
- Posco Energy - South Korea
- Karaikal Port Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Riau Bara Harum - Indonesia
- VISA Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Central Java Power - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Ambuja Cements Ltd - India
- Semirara Mining Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Metalloyd Limited - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Renaissance Capital - South Africa
- Economic Council, Georgia
- Wilmar Investment Holdings
- McConnell Dowell - Australia
- Meralco Power Generation, Philippines
- Ministry of Transport, Egypt
- Carbofer General Trading SA - India
- Binh Thuan Hamico - Vietnam
- Independent Power Producers Association of India
- Ministry of Mines - Canada
- Indian Energy Exchange, India
- Neyveli Lignite Corporation Ltd, - India
- Chamber of Mines of South Africa
- Global Coal Blending Company Limited - Australia
- Therma Luzon, Inc, Philippines
- CNBM International Corporation - China
- Straits Asia Resources Limited - Singapore
- Borneo Indobara - Indonesia
- Gujarat Sidhee Cement - India
- London Commodity Brokers - England
- Vijayanagar Sugar Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indonesian Coal Mining Association
- Krishnapatnam Port Company Ltd. - India
- Makarim & Taira - Indonesia
- Iligan Light & Power Inc, Philippines
- Mjunction Services Limited - India
- Sindya Power Generating Company Private Ltd
- Thiess Contractors Indonesia
- Minerals Council of Australia
- Kobexindo Tractors - Indoneisa
- Marubeni Corporation - India
- Merrill Lynch Commodities Europe
- Cigading International Bulk Terminal - Indonesia
- Global Business Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- ICICI Bank Limited - India
- Savvy Resources Ltd - HongKong
- Ind-Barath Power Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- Power Finance Corporation Ltd., India
- Global Green Power PLC Corporation, Philippines
- Port Waratah Coal Services - Australia
- Gujarat Mineral Development Corp Ltd - India
- Banpu Public Company Limited - Thailand
- Grasim Industreis Ltd - India
- Lanco Infratech Ltd - India
- The State Trading Corporation of India Ltd
- Petron Corporation, Philippines
- SMC Global Power, Philippines
- New Zealand Coal & Carbon
- TeaM Sual Corporation - Philippines
- Latin American Coal - Colombia
- Kumho Petrochemical, South Korea
- Intertek Mineral Services - Indonesia
- Parry Sugars Refinery, India
- Baramulti Group, Indonesia
- Deloitte Consulting - India
- Thai Mozambique Logistica
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