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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, 16 April 15
INDIA: COAL IMPORTS RISE BY 33 PC TO 240 MT IN FY'15 - PTI
India’s coal imports in the just concluded FY 2015 increased by 33 per cent to about 240 million tonnes.
“Coal import have gone up ...
Thursday, 16 April 15
CAPESIZE: THE SUPPLY AND DEMAND SIDE ARE NOW SUFFERING HEAVILY - FEARNLEYS
Handy
It seems to be some standoff between owners and charterers in both hemispheres this week. Owners are raising their rates while charterers a ...
Thursday, 16 April 15
Q3 FOB RICHARDS BAY COAL SWAP CLOSED AT $ 55.67 PMT
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q2' 2015 declined month over month.
The Q2 swap has declined US$ 1.90 (3.17%) m ...
Wednesday, 15 April 15
PORT OF NEWCASTLE SHIPPED 13.63 MMT OF COAL IN MARCH; UP 4.41% M-O-M
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port, has shipped $1.227 billi ...
Tuesday, 14 April 15
COAL OUTPUT FALLS AS PRICES CONTINUE TO LAG - JP
Coal output dropped by 21 percent in the first three months of the year as low prices for the commodity forced mining companies to reduce activitie ...
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- Kohat Cement Company Ltd. - Pakistan
- Ministry of Transport, Egypt
- Trasteel International SA, Italy
- Sinarmas Energy and Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Indo Tambangraya Megah - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Deloitte Consulting - India
- CNBM International Corporation - China
- Parliament of New Zealand
- Bayan Resources Tbk. - Indonesia
- Siam City Cement PLC, Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Bhoruka Overseas - Indonesia
- Eastern Coal Council - USA
- Thiess Contractors Indonesia
- Savvy Resources Ltd - HongKong
- SMC Global Power, Philippines
- Antam Resourcindo - Indonesia
- GAC Shipping (India) Pvt Ltd
- Ministry of Finance - Indonesia
- Riau Bara Harum - Indonesia
- GMR Energy Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Mines - Canada
- Star Paper Mills Limited - India
- Rashtriya Ispat Nigam Limited - India
- Posco Energy - South Korea
- Gujarat Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- New Zealand Coal & Carbon
- Indika Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Siam City Cement - Thailand
- McConnell Dowell - Australia
- Asmin Koalindo Tuhup - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Georgia Ports Authority, United States
- Holcim Trading Pte Ltd - Singapore
- Meralco Power Generation, Philippines
- Coalindo Energy - Indonesia
- Sical Logistics Limited - India
- Malabar Cements Ltd - India
- The Treasury - Australian Government
- Independent Power Producers Association of India
- Central Electricity Authority - India
- Jindal Steel & Power Ltd - India
- Ambuja Cements Ltd - India
- Oldendorff Carriers - Singapore
- Romanian Commodities Exchange
- Miang Besar Coal Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Sojitz Corporation - Japan
- Planning Commission, India
- Mercator Lines Limited - India
- Bulk Trading Sa - Switzerland
- The University of Queensland
- Medco Energi Mining Internasional
- Globalindo Alam Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- White Energy Company Limited
- Toyota Tsusho Corporation, Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cement Manufacturers Association - India
- Vijayanagar Sugar Pvt Ltd - India
- Merrill Lynch Commodities Europe
- AsiaOL BioFuels Corp., Philippines
- Energy Link Ltd, New Zealand
- IEA Clean Coal Centre - UK
- IHS Mccloskey Coal Group - USA
- India Bulls Power Limited - India
- Sree Jayajothi Cements Limited - India
- Samtan Co., Ltd - South Korea
- Price Waterhouse Coopers - Russia
- Bhushan Steel Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maheswari Brothers Coal Limited - India
- CIMB Investment Bank - Malaysia
- Indonesian Coal Mining Association
- Petrochimia International Co. Ltd.- Taiwan
- Pendopo Energi Batubara - Indonesia
- Carbofer General Trading SA - India
- Economic Council, Georgia
- Mercuria Energy - Indonesia
- Larsen & Toubro Limited - India
- Essar Steel Hazira Ltd - India
- Mintek Dendrill Indonesia
- Baramulti Group, Indonesia
- Anglo American - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Wilmar Investment Holdings
- PNOC Exploration Corporation - Philippines
- Indian Oil Corporation Limited
- Kaltim Prima Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Altura Mining Limited, Indonesia
- Attock Cement Pakistan Limited
- Africa Commodities Group - South Africa
- Simpson Spence & Young - Indonesia
- Sindya Power Generating Company Private Ltd
- Chettinad Cement Corporation Ltd - India
- Global Business Power Corporation, Philippines
- MS Steel International - UAE
- OPG Power Generation Pvt Ltd - India
- ICICI Bank Limited - India
- Coastal Gujarat Power Limited - India
- Parry Sugars Refinery, India
- Kobexindo Tractors - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Kumho Petrochemical, South Korea
- Salva Resources Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- San Jose City I Power Corp, Philippines
- Singapore Mercantile Exchange
- Commonwealth Bank - Australia
- Karaikal Port Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Wood Mackenzie - Singapore
- Petron Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Videocon Industries ltd - India
- Directorate Of Revenue Intelligence - India
- Grasim Industreis Ltd - India
- LBH Netherlands Bv - Netherlands
- Goldman Sachs - Singapore
- Central Java Power - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Energy - Thailand
- Thai Mozambique Logistica
- PetroVietnam Power Coal Import and Supply Company
- Formosa Plastics Group - Taiwan
- Dalmia Cement Bharat India
- Chamber of Mines of South Africa
- Tamil Nadu electricity Board
- Manunggal Multi Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Meenaskhi Energy Private Limited - India
- London Commodity Brokers - England
- Semirara Mining and Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- VISA Power Limited - India
- Vedanta Resources Plc - India
- SMG Consultants - Indonesia
- Orica Australia Pty. Ltd.
- Mjunction Services Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Straits Asia Resources Limited - Singapore
- Cigading International Bulk Terminal - Indonesia
- Heidelberg Cement - Germany
- Electricity Authority, New Zealand
- GVK Power & Infra Limited - India
- Interocean Group of Companies - India
- Karbindo Abesyapradhi - Indoneisa
- Electricity Generating Authority of Thailand
- Australian Commodity Traders Exchange
- Binh Thuan Hamico - Vietnam
- Xindia Steels Limited - India
- Aditya Birla Group - India
- Vizag Seaport Private Limited - India
- Orica Mining Services - Indonesia
- Metalloyd Limited - United Kingdom
- ASAPP Information Group - India
- TeaM Sual Corporation - Philippines
- PTC India Limited - India
- Power Finance Corporation Ltd., India
- Lanco Infratech Ltd - India
- Semirara Mining Corp, Philippines
- Minerals Council of Australia
- South Luzon Thermal Energy Corporation
- Makarim & Taira - Indonesia
- Ind-Barath Power Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Gujarat Sidhee Cement - India
- Edison Trading Spa - Italy
- European Bulk Services B.V. - Netherlands
- Renaissance Capital - South Africa
- Bangladesh Power Developement Board
- International Coal Ventures Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Billiton Holdings Pty Ltd - Australia
- PowerSource Philippines DevCo
- The State Trading Corporation of India Ltd
- Kepco SPC Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Agrawal Coal Company - India
- Australian Coal Association
- Port Waratah Coal Services - Australia
- Maharashtra Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Indian Energy Exchange, India
- Indogreen Group - Indonesia
- Kideco Jaya Agung - Indonesia
- Borneo Indobara - Indonesia
- Marubeni Corporation - India
- Madhucon Powers Ltd - India
- Standard Chartered Bank - UAE
- Directorate General of MIneral and Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Bharathi Cement Corporation - India
- Uttam Galva Steels Limited - India
- Iligan Light & Power Inc, Philippines
- Tata Chemicals Ltd - India
- Rio Tinto Coal - Australia
- Latin American Coal - Colombia
- Sakthi Sugars Limited - India
- Coal and Oil Company - UAE
- Bhatia International Limited - India
- Global Coal Blending Company Limited - Australia
- Energy Development Corp, Philippines
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