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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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Sunday, 19 April 15
THE OCEAN FREIGHT MARKET SHOWED STEADY THIS WEEK
COALspot.com: The freight market was fairly steady this week. The BDI was up 2.93% to 597 points week over week. The cape index was also increased ...
Friday, 17 April 15
IHS ENERGY EUROPEAN COAL OUTLOOK CONFERENCE
Attend the IHS Energy European Coal Outlook Conference 19-20 May in Nice, France and learn about timely concerns in today’s coal industry.
...
Friday, 17 April 15
COAL PRODUCTION IN THE U.S. UP THIS PAST WEEK - EIA
COALspot.com – United States the second largest coal producer in the world has produced approximately totaled an estimated 18.0 million short ...
Thursday, 16 April 15
NEW COMMODITY SUPERHIGHWAY WILL EMERGE IN CHINA, ALTERING ENERGY TRADE FLOWS - WOOD MACKENZIE
Wood Mackenzie says that China’s Go West strategy – encouraging coastal to inland flow of capital and people - will result in the forma ...
Thursday, 16 April 15
SHIPPING DEMAND TO SUFFER AS CHINESE SLOWDOWN CONFIRMED SAYS BIMCO'S CHIEF SHIPPING ANALYST - BIMCO
The Chinese economy grew by 7.0% y-o-y in the first quarter of 2015, according to National Bureau of Statistics in China. This is the weakest overa ...
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- Indogreen Group - Indonesia
- Bukit Baiduri Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Malabar Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Kumho Petrochemical, South Korea
- Lanco Infratech Ltd - India
- Ind-Barath Power Infra Limited - India
- Australian Coal Association
- Jorong Barutama Greston.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercuria Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Central Electricity Authority - India
- Thiess Contractors Indonesia
- IEA Clean Coal Centre - UK
- Mjunction Services Limited - India
- Bangladesh Power Developement Board
- Billiton Holdings Pty Ltd - Australia
- SMG Consultants - Indonesia
- Ambuja Cements Ltd - India
- Petron Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Independent Power Producers Association of India
- Binh Thuan Hamico - Vietnam
- New Zealand Coal & Carbon
- Kobexindo Tractors - Indoneisa
- Essar Steel Hazira Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Neyveli Lignite Corporation Ltd, - India
- Kideco Jaya Agung - Indonesia
- Power Finance Corporation Ltd., India
- Timah Investasi Mineral - Indoneisa
- Siam City Cement PLC, Thailand
- Uttam Galva Steels Limited - India
- San Jose City I Power Corp, Philippines
- Coastal Gujarat Power Limited - India
- Planning Commission, India
- Global Green Power PLC Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Georgia Ports Authority, United States
- London Commodity Brokers - England
- ICICI Bank Limited - India
- Posco Energy - South Korea
- Samtan Co., Ltd - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Bayan Resources Tbk. - Indonesia
- Simpson Spence & Young - Indonesia
- Chettinad Cement Corporation Ltd - India
- Rio Tinto Coal - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PowerSource Philippines DevCo
- Ministry of Transport, Egypt
- Directorate General of MIneral and Coal - Indonesia
- India Bulls Power Limited - India
- Savvy Resources Ltd - HongKong
- Oldendorff Carriers - Singapore
- Straits Asia Resources Limited - Singapore
- Directorate Of Revenue Intelligence - India
- Metalloyd Limited - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Wood Mackenzie - Singapore
- Sakthi Sugars Limited - India
- Marubeni Corporation - India
- Xindia Steels Limited - India
- Intertek Mineral Services - Indonesia
- CIMB Investment Bank - Malaysia
- Riau Bara Harum - Indonesia
- GVK Power & Infra Limited - India
- Barasentosa Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- IHS Mccloskey Coal Group - USA
- Siam City Cement - Thailand
- Global Coal Blending Company Limited - Australia
- Indo Tambangraya Megah - Indonesia
- Heidelberg Cement - Germany
- GN Power Mariveles Coal Plant, Philippines
- Karaikal Port Pvt Ltd - India
- Videocon Industries ltd - India
- Kaltim Prima Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vedanta Resources Plc - India
- Indian Energy Exchange, India
- Central Java Power - Indonesia
- Africa Commodities Group - South Africa
- The State Trading Corporation of India Ltd
- Interocean Group of Companies - India
- Deloitte Consulting - India
- Bhushan Steel Limited - India
- Renaissance Capital - South Africa
- PTC India Limited - India
- Carbofer General Trading SA - India
- Thai Mozambique Logistica
- Edison Trading Spa - Italy
- South Luzon Thermal Energy Corporation
- Formosa Plastics Group - Taiwan
- Petrochimia International Co. Ltd.- Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mintek Dendrill Indonesia
- Meralco Power Generation, Philippines
- Bukit Makmur.PT - Indonesia
- Indika Energy - Indonesia
- Romanian Commodities Exchange
- Iligan Light & Power Inc, Philippines
- Economic Council, Georgia
- Goldman Sachs - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- The University of Queensland
- Electricity Authority, New Zealand
- Grasim Industreis Ltd - India
- Eastern Energy - Thailand
- European Bulk Services B.V. - Netherlands
- Star Paper Mills Limited - India
- Meenaskhi Energy Private Limited - India
- SMC Global Power, Philippines
- Sinarmas Energy and Mining - Indonesia
- Merrill Lynch Commodities Europe
- Dalmia Cement Bharat India
- Mercator Lines Limited - India
- Sree Jayajothi Cements Limited - India
- Antam Resourcindo - Indonesia
- Coalindo Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Ministry of Mines - Canada
- GMR Energy Limited - India
- Medco Energi Mining Internasional
- Bharathi Cement Corporation - India
- Cement Manufacturers Association - India
- SN Aboitiz Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- VISA Power Limited - India
- Sical Logistics Limited - India
- Madhucon Powers Ltd - India
- Minerals Council of Australia
- TeaM Sual Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Indian Oil Corporation Limited
- MS Steel International - UAE
- PNOC Exploration Corporation - Philippines
- White Energy Company Limited
- Aditya Birla Group - India
- Commonwealth Bank - Australia
- Trasteel International SA, Italy
- Eastern Coal Council - USA
- Bulk Trading Sa - Switzerland
- Vijayanagar Sugar Pvt Ltd - India
- Australian Commodity Traders Exchange
- Kepco SPC Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Gujarat Sidhee Cement - India
- Salva Resources Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Aboitiz Power Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Port Waratah Coal Services - Australia
- Maharashtra Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wilmar Investment Holdings
- Orica Mining Services - Indonesia
- McConnell Dowell - Australia
- Banpu Public Company Limited - Thailand
- Baramulti Group, Indonesia
- Global Business Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Jindal Steel & Power Ltd - India
- Tata Chemicals Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Sojitz Corporation - Japan
- Kohat Cement Company Ltd. - Pakistan
- Larsen & Toubro Limited - India
- Sarangani Energy Corporation, Philippines
- Borneo Indobara - Indonesia
- Agrawal Coal Company - India
- CNBM International Corporation - China
- Altura Mining Limited, Indonesia
- Orica Australia Pty. Ltd.
- Parliament of New Zealand
- Sindya Power Generating Company Private Ltd
- Jaiprakash Power Ventures ltd
- Latin American Coal - Colombia
- AsiaOL BioFuels Corp., Philippines
- Singapore Mercantile Exchange
- Kapuas Tunggal Persada - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Energy Development Corp, Philippines
- Bhatia International Limited - India
- Chamber of Mines of South Africa
- GAC Shipping (India) Pvt Ltd
- Ministry of Finance - Indonesia
- Energy Link Ltd, New Zealand
- OPG Power Generation Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Indonesian Coal Mining Association
- Maheswari Brothers Coal Limited - India
- Parry Sugars Refinery, India
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining Corp, Philippines
- The Treasury - Australian Government
- Makarim & Taira - Indonesia
- Coal and Oil Company - UAE
- Anglo American - United Kingdom
- Tamil Nadu electricity Board
- Holcim Trading Pte Ltd - Singapore
- Manunggal Multi Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- ASAPP Information Group - India
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