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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, 27 March 15
INDONESIA: NEW REGULATION REQUIRES LETTER OF CREDIT FOR EXPORT OF PRODUCTS FROM NATURAL RESOURCES
The Minister of Trade issued Ministerial Regulation No. 04/M-DAG/PER/1/2015 (“Regulation No. 4/2015”) on 5 January 2015. Regulati ...
Friday, 27 March 15
WEEKLY U.S COAL OUTPUT FALLS 1.7% W-W; 7.9% Y-Y
COALspot.com – United States the world's one of the largest coal producers, produced approximately totaled an estimated 18.2 million ...
Thursday, 26 March 15
CHINA IRON ORE IMPORT FOR THE FIRST 2 MONTHS DECLINED BY 1.2 % Y-O-Y; PANAMAX AUSSIE/CHINA ROUNDS BEING FIXED IN THE $4 -5K RANGE - FEARNLEYS
Handy
There has been more activity in both hemispheres this week. Especially the USG market has picked up with more cargoes for prompter dates en ...
Thursday, 26 March 15
RATES FOR THE SMALLER SIZE SEGMENT CONTINUED TO IMPROVE LAST WEEK - INTERMODAL
To see green across the board is a rare occurrence in the Dry Bulk market nowadays and while the upside in which last week closed off is not of the ...
Thursday, 26 March 15
KYUSHU ELECTRIC POWER OF JAPAN HAS JOINED GLOBALCOAL ONLINE COAL TRADING PLATFORM
globalCOAL® announced today that Kyushu Electric Power, one of Japan’s largest utility companies, has joined its online coal trading plat ...
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- PTC India Limited - India
- Wood Mackenzie - Singapore
- AsiaOL BioFuels Corp., Philippines
- Indonesian Coal Mining Association
- Semirara Mining Corp, Philippines
- New Zealand Coal & Carbon
- Energy Development Corp, Philippines
- Singapore Mercantile Exchange
- Sindya Power Generating Company Private Ltd
- Mercator Lines Limited - India
- Karaikal Port Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parliament of New Zealand
- Bukit Baiduri Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coalindo Energy - Indonesia
- Parry Sugars Refinery, India
- Maheswari Brothers Coal Limited - India
- Barasentosa Lestari - Indonesia
- Sical Logistics Limited - India
- Indogreen Group - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Petron Corporation, Philippines
- Australian Commodity Traders Exchange
- Tata Chemicals Ltd - India
- Vedanta Resources Plc - India
- Eastern Coal Council - USA
- Kohat Cement Company Ltd. - Pakistan
- LBH Netherlands Bv - Netherlands
- Videocon Industries ltd - India
- Iligan Light & Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Oldendorff Carriers - Singapore
- Chettinad Cement Corporation Ltd - India
- Globalindo Alam Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Port Waratah Coal Services - Australia
- Ministry of Transport, Egypt
- TNB Fuel Sdn Bhd - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- McConnell Dowell - Australia
- Jaiprakash Power Ventures ltd
- Planning Commission, India
- Essar Steel Hazira Ltd - India
- Cement Manufacturers Association - India
- SMC Global Power, Philippines
- Borneo Indobara - Indonesia
- Savvy Resources Ltd - HongKong
- Sakthi Sugars Limited - India
- Sree Jayajothi Cements Limited - India
- Commonwealth Bank - Australia
- GAC Shipping (India) Pvt Ltd
- Orica Australia Pty. Ltd.
- International Coal Ventures Pvt Ltd - India
- ASAPP Information Group - India
- SMG Consultants - Indonesia
- Thai Mozambique Logistica
- The Treasury - Australian Government
- White Energy Company Limited
- GVK Power & Infra Limited - India
- Coal and Oil Company - UAE
- Holcim Trading Pte Ltd - Singapore
- CNBM International Corporation - China
- TeaM Sual Corporation - Philippines
- India Bulls Power Limited - India
- Minerals Council of Australia
- Electricity Authority, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Banpu Public Company Limited - Thailand
- Billiton Holdings Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Central Electricity Authority - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rio Tinto Coal - Australia
- Vizag Seaport Private Limited - India
- VISA Power Limited - India
- Latin American Coal - Colombia
- Global Green Power PLC Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Straits Asia Resources Limited - Singapore
- Electricity Generating Authority of Thailand
- Formosa Plastics Group - Taiwan
- Leighton Contractors Pty Ltd - Australia
- Indika Energy - Indonesia
- Energy Link Ltd, New Zealand
- Global Coal Blending Company Limited - Australia
- Jindal Steel & Power Ltd - India
- Meenaskhi Energy Private Limited - India
- Timah Investasi Mineral - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Larsen & Toubro Limited - India
- Aboitiz Power Corporation - Philippines
- Kumho Petrochemical, South Korea
- European Bulk Services B.V. - Netherlands
- Renaissance Capital - South Africa
- Chamber of Mines of South Africa
- Cigading International Bulk Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Meralco Power Generation, Philippines
- Standard Chartered Bank - UAE
- Madhucon Powers Ltd - India
- ICICI Bank Limited - India
- The University of Queensland
- IEA Clean Coal Centre - UK
- Siam City Cement PLC, Thailand
- Economic Council, Georgia
- Simpson Spence & Young - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Pendopo Energi Batubara - Indonesia
- Interocean Group of Companies - India
- Aditya Birla Group - India
- San Jose City I Power Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Riau Bara Harum - Indonesia
- Ambuja Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- London Commodity Brokers - England
- Bhushan Steel Limited - India
- GMR Energy Limited - India
- Heidelberg Cement - Germany
- Kartika Selabumi Mining - Indonesia
- Bhatia International Limited - India
- Bangladesh Power Developement Board
- Baramulti Group, Indonesia
- Independent Power Producers Association of India
- Ministry of Finance - Indonesia
- Dalmia Cement Bharat India
- Kepco SPC Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Samtan Co., Ltd - South Korea
- Anglo American - United Kingdom
- South Luzon Thermal Energy Corporation
- Mercuria Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Wilmar Investment Holdings
- PowerSource Philippines DevCo
- Thiess Contractors Indonesia
- Indian Energy Exchange, India
- Bhoruka Overseas - Indonesia
- Indian Oil Corporation Limited
- Africa Commodities Group - South Africa
- Carbofer General Trading SA - India
- Mintek Dendrill Indonesia
- Attock Cement Pakistan Limited
- Ministry of Mines - Canada
- Antam Resourcindo - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- Agrawal Coal Company - India
- Price Waterhouse Coopers - Russia
- Power Finance Corporation Ltd., India
- IHS Mccloskey Coal Group - USA
- Bharathi Cement Corporation - India
- PNOC Exploration Corporation - Philippines
- Marubeni Corporation - India
- Sarangani Energy Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Goldman Sachs - Singapore
- OPG Power Generation Pvt Ltd - India
- Posco Energy - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Star Paper Mills Limited - India
- Georgia Ports Authority, United States
- GN Power Mariveles Coal Plant, Philippines
- Alfred C Toepfer International GmbH - Germany
- Bulk Trading Sa - Switzerland
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coastal Gujarat Power Limited - India
- Gujarat Sidhee Cement - India
- Central Java Power - Indonesia
- Manunggal Multi Energi - Indonesia
- Global Business Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Uttam Galva Steels Limited - India
- Tamil Nadu electricity Board
- CIMB Investment Bank - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Makarim & Taira - Indonesia
- Kideco Jaya Agung - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indo Tambangraya Megah - Indonesia
- Grasim Industreis Ltd - India
- Eastern Energy - Thailand
- Sojitz Corporation - Japan
- Medco Energi Mining Internasional
- Malabar Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Xindia Steels Limited - India
- Romanian Commodities Exchange
- Deloitte Consulting - India
- The State Trading Corporation of India Ltd
- Altura Mining Limited, Indonesia
- Toyota Tsusho Corporation, Japan
- Karbindo Abesyapradhi - Indoneisa
- Salva Resources Pvt Ltd - India
- Mjunction Services Limited - India
- Directorate Of Revenue Intelligence - India
- Bukit Makmur.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Trasteel International SA, Italy
- Miang Besar Coal Terminal - Indonesia
- Edison Trading Spa - Italy
- Merrill Lynch Commodities Europe
- Australian Coal Association
- MS Steel International - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement - Thailand
- Metalloyd Limited - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
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