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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, 30 March 15
Q3' 15 CFR SOUTH CHINA COAL SWAP: DECLINED 8.7% M-M; 12.77% Y-TO-D
COALspot.com: API 8 CFR South China Coal swap for Q2’ 2015 delivery declined US$ 5.00 (-8.70%) per MT month over month and US$ 1.33 (-2 ...
Monday, 30 March 15
Q2' FOB NEWCASTLE COAL SWAP CLOSED 4.47% HIGHER THAN Q4' CLOSING PRICE
COALspot.com: API 5 FOB Newcastle Coal swap for Q2’ 2015 delivery declined US$ 5.42 per MT (-10.43%) month over month and US$ 1.60 (-3.32%) w ...
Sunday, 29 March 15
INDO - INDIA: SUPRAMAX & PANAMAX FREIGHT MARKET STEADY
COALspot.com: The freight market was almost stable as all segments slightly up except Panamax sector.
The BDI was up by just 0.85% week over w ...
Saturday, 28 March 15
IS NORTHERN EUROPE THE NEW MINING ELDORADO?
The Europe Mining 2015 Summit, organised by Global Summits organizer IRN on 17-18 June in Amsterdam, The Netherlands, will gather senior level repr ...
Saturday, 28 March 15
THE DRY BULK FLEET AT BREAKING POINT - CLARKSONS
The severe oversupply in the bulkcarrier fleet has contributed to the current trough in the dry bulk market, putting considerable financial pressur ...
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- Dalmia Cement Bharat India
- OPG Power Generation Pvt Ltd - India
- Georgia Ports Authority, United States
- Indian Energy Exchange, India
- Bharathi Cement Corporation - India
- ICICI Bank Limited - India
- PTC India Limited - India
- Bulk Trading Sa - Switzerland
- Semirara Mining Corp, Philippines
- Eastern Coal Council - USA
- Bukit Baiduri Energy - Indonesia
- Carbofer General Trading SA - India
- The University of Queensland
- International Coal Ventures Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- Xindia Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- Meralco Power Generation, Philippines
- VISA Power Limited - India
- Central Electricity Authority - India
- Oldendorff Carriers - Singapore
- Sree Jayajothi Cements Limited - India
- Minerals Council of Australia
- Commonwealth Bank - Australia
- Therma Luzon, Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Manunggal Multi Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Trasteel International SA, Italy
- PetroVietnam Power Coal Import and Supply Company
- South Luzon Thermal Energy Corporation
- San Jose City I Power Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Malabar Cements Ltd - India
- Thai Mozambique Logistica
- Billiton Holdings Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- Mercator Lines Limited - India
- Samtan Co., Ltd - South Korea
- Aboitiz Power Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- SN Aboitiz Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Gujarat Sidhee Cement - India
- Karaikal Port Pvt Ltd - India
- Standard Chartered Bank - UAE
- Jindal Steel & Power Ltd - India
- Kideco Jaya Agung - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Indika Energy - Indonesia
- Edison Trading Spa - Italy
- SMG Consultants - Indonesia
- Mercuria Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- McConnell Dowell - Australia
- Essar Steel Hazira Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Posco Energy - South Korea
- Pendopo Energi Batubara - Indonesia
- Kumho Petrochemical, South Korea
- Borneo Indobara - Indonesia
- Price Waterhouse Coopers - Russia
- Straits Asia Resources Limited - Singapore
- Toyota Tsusho Corporation, Japan
- Indonesian Coal Mining Association
- Thiess Contractors Indonesia
- Globalindo Alam Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Indian Oil Corporation Limited
- Bangladesh Power Developement Board
- TNB Fuel Sdn Bhd - Malaysia
- GAC Shipping (India) Pvt Ltd
- Australian Coal Association
- Lanco Infratech Ltd - India
- Ambuja Cements Ltd - India
- Wilmar Investment Holdings
- Formosa Plastics Group - Taiwan
- Semirara Mining and Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Indo Tambangraya Megah - Indonesia
- Planning Commission, India
- Romanian Commodities Exchange
- Salva Resources Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Coalindo Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Star Paper Mills Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Authority, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- White Energy Company Limited
- Interocean Group of Companies - India
- Global Green Power PLC Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- India Bulls Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Petron Corporation, Philippines
- Central Java Power - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Attock Cement Pakistan Limited
- Makarim & Taira - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Rio Tinto Coal - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sindya Power Generating Company Private Ltd
- New Zealand Coal & Carbon
- Eastern Energy - Thailand
- Independent Power Producers Association of India
- Videocon Industries ltd - India
- PowerSource Philippines DevCo
- Cement Manufacturers Association - India
- Rashtriya Ispat Nigam Limited - India
- Baramulti Group, Indonesia
- London Commodity Brokers - England
- Energy Link Ltd, New Zealand
- Chamber of Mines of South Africa
- Siam City Cement - Thailand
- MS Steel International - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement PLC, Thailand
- GVK Power & Infra Limited - India
- Simpson Spence & Young - Indonesia
- Bhoruka Overseas - Indonesia
- Medco Energi Mining Internasional
- PNOC Exploration Corporation - Philippines
- Renaissance Capital - South Africa
- Goldman Sachs - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Sojitz Corporation - Japan
- LBH Netherlands Bv - Netherlands
- Orica Mining Services - Indonesia
- Barasentosa Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Marubeni Corporation - India
- CNBM International Corporation - China
- Grasim Industreis Ltd - India
- Binh Thuan Hamico - Vietnam
- Global Coal Blending Company Limited - Australia
- Parliament of New Zealand
- Sarangani Energy Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Electricity Generating Authority of Thailand
- Madhucon Powers Ltd - India
- Merrill Lynch Commodities Europe
- Miang Besar Coal Terminal - Indonesia
- Economic Council, Georgia
- Singapore Mercantile Exchange
- Directorate Of Revenue Intelligence - India
- Karbindo Abesyapradhi - Indoneisa
- Altura Mining Limited, Indonesia
- Agrawal Coal Company - India
- Tata Chemicals Ltd - India
- Latin American Coal - Colombia
- IEA Clean Coal Centre - UK
- Coastal Gujarat Power Limited - India
- Indogreen Group - Indonesia
- Parry Sugars Refinery, India
- GMR Energy Limited - India
- Africa Commodities Group - South Africa
- Mjunction Services Limited - India
- Gujarat Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- Alfred C Toepfer International GmbH - Germany
- Australian Commodity Traders Exchange
- Bukit Makmur.PT - Indonesia
- Ministry of Transport, Egypt
- Iligan Light & Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Banpu Public Company Limited - Thailand
- Sakthi Sugars Limited - India
- Orica Australia Pty. Ltd.
- Heidelberg Cement - Germany
- Anglo American - United Kingdom
- ASAPP Information Group - India
- Bayan Resources Tbk. - Indonesia
- Kartika Selabumi Mining - Indonesia
- Ministry of Finance - Indonesia
- Port Waratah Coal Services - Australia
- Vedanta Resources Plc - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sical Logistics Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Riau Bara Harum - Indonesia
- Mintek Dendrill Indonesia
- Timah Investasi Mineral - Indoneisa
- CIMB Investment Bank - Malaysia
- Kobexindo Tractors - Indoneisa
- Uttam Galva Steels Limited - India
- Coal and Oil Company - UAE
- Jaiprakash Power Ventures ltd
- Maharashtra Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Kepco SPC Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Tamil Nadu electricity Board
- TeaM Sual Corporation - Philippines
- Larsen & Toubro Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Bhatia International Limited - India
- Global Business Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Mines - Canada
- Deloitte Consulting - India
- GN Power Mariveles Coal Plant, Philippines
- Wood Mackenzie - Singapore
- Energy Development Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Bhushan Steel Limited - India
- The Treasury - Australian Government
- Aditya Birla Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
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