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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, 24 March 15
RICHARDS BAY COAL SWAP FOR DELIVERY Q2 CLOSED $ 1.87 HIGHER COMPARED TO Q3 CLOSING PRICE
COALspot.com: API 4 FOB Richards Bay Coal swap for delivery Q2' 2015 declined month over month and week on week.
The Q2 swap has dropped U ...
Tuesday, 24 March 15
ARGUS MEDITERRANEAN SOLID FUELS 2015 CONFERENCE | 2-3 JUNE, ISTANBUL
Press Release: Argus Media is proud to announce Argus Mediterranean Solid Fuels, which will be held in Istanbul,on 2-3February.
Argus produces ...
Monday, 23 March 15
IS OIL GETTING READY TO PLUNGE BELOW $40? - FORBES
KNOWLEDGE TO ELEVATE
In my last crude oil market update in late-February, I expressed my skepticism toward the oil price rebound. Since then, ...
Monday, 23 March 15
Q4' 2015 FOB NEWCASTLE COAL SWAPS DECLINED 6.79% M-O-M; 2.55% W-O-W
COALspot.com: API 5 FOB Newcastle Coal swap for Q2’ 2015 delivery declined US$ 3.42 per MT (-6.33%) month over month and US$ 1.37 (-2.77%) we ...
Monday, 23 March 15
CFR SOUTH CHINA COAL SWAP: Q3 DELIVERY HAS FALLEN 7.93% MONTH-ON-MONTH
COALspot.com: API 8 CFR South China Coal swap for Q2’ 2015 delivery declined US$ 4.09 (-7.06%) per MT month over month and US$ 2.00 (-3 ...
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- Ministry of Transport, Egypt
- Krishnapatnam Port Company Ltd. - India
- Maheswari Brothers Coal Limited - India
- CNBM International Corporation - China
- Therma Luzon, Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Coastal Gujarat Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Mintek Dendrill Indonesia
- SMG Consultants - Indonesia
- The State Trading Corporation of India Ltd
- GVK Power & Infra Limited - India
- Posco Energy - South Korea
- Ambuja Cements Ltd - India
- Bhoruka Overseas - Indonesia
- White Energy Company Limited
- Baramulti Group, Indonesia
- CIMB Investment Bank - Malaysia
- Australian Coal Association
- International Coal Ventures Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Kartika Selabumi Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- Trasteel International SA, Italy
- Altura Mining Limited, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Lanco Infratech Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Xindia Steels Limited - India
- Intertek Mineral Services - Indonesia
- New Zealand Coal & Carbon
- Simpson Spence & Young - Indonesia
- Goldman Sachs - Singapore
- Kobexindo Tractors - Indoneisa
- TeaM Sual Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Mercator Lines Limited - India
- Uttam Galva Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Global Green Power PLC Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petron Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Jaiprakash Power Ventures ltd
- Star Paper Mills Limited - India
- Indika Energy - Indonesia
- Ministry of Mines - Canada
- Tata Chemicals Ltd - India
- Romanian Commodities Exchange
- Coalindo Energy - Indonesia
- Banpu Public Company Limited - Thailand
- McConnell Dowell - Australia
- Globalindo Alam Lestari - Indonesia
- Chamber of Mines of South Africa
- Georgia Ports Authority, United States
- Semirara Mining Corp, Philippines
- Makarim & Taira - Indonesia
- Aditya Birla Group - India
- SN Aboitiz Power Inc, Philippines
- Coal and Oil Company - UAE
- Samtan Co., Ltd - South Korea
- Indogreen Group - Indonesia
- Siam City Cement PLC, Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Rio Tinto Coal - Australia
- Salva Resources Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- IEA Clean Coal Centre - UK
- IHS Mccloskey Coal Group - USA
- Straits Asia Resources Limited - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Africa Commodities Group - South Africa
- Sarangani Energy Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- PTC India Limited - India
- Malabar Cements Ltd - India
- Ministry of Finance - Indonesia
- The University of Queensland
- Central Java Power - Indonesia
- Indian Energy Exchange, India
- Edison Trading Spa - Italy
- Global Business Power Corporation, Philippines
- Heidelberg Cement - Germany
- Sakthi Sugars Limited - India
- Binh Thuan Hamico - Vietnam
- Indo Tambangraya Megah - Indonesia
- Formosa Plastics Group - Taiwan
- GAC Shipping (India) Pvt Ltd
- Mercuria Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thai Mozambique Logistica
- Indonesian Coal Mining Association
- Riau Bara Harum - Indonesia
- Aboitiz Power Corporation - Philippines
- Independent Power Producers Association of India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jindal Steel & Power Ltd - India
- Sindya Power Generating Company Private Ltd
- Kalimantan Lumbung Energi - Indonesia
- Videocon Industries ltd - India
- Siam City Cement - Thailand
- ICICI Bank Limited - India
- ASAPP Information Group - India
- Kapuas Tunggal Persada - Indonesia
- PNOC Exploration Corporation - Philippines
- Interocean Group of Companies - India
- Cement Manufacturers Association - India
- Vizag Seaport Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Ceylon Electricity Board - Sri Lanka
- Minerals Council of Australia
- LBH Netherlands Bv - Netherlands
- Bhatia International Limited - India
- Karaikal Port Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Energy Development Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Sinarmas Energy and Mining - Indonesia
- Economic Council, Georgia
- Chettinad Cement Corporation Ltd - India
- Manunggal Multi Energi - Indonesia
- Orica Australia Pty. Ltd.
- SMC Global Power, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Madhucon Powers Ltd - India
- Bukit Baiduri Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Larsen & Toubro Limited - India
- Attock Cement Pakistan Limited
- VISA Power Limited - India
- Planning Commission, India
- Price Waterhouse Coopers - Russia
- Vedanta Resources Plc - India
- Orica Mining Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- Deloitte Consulting - India
- Iligan Light & Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The Treasury - Australian Government
- Electricity Generating Authority of Thailand
- India Bulls Power Limited - India
- Renaissance Capital - South Africa
- Rashtriya Ispat Nigam Limited - India
- Pendopo Energi Batubara - Indonesia
- Parliament of New Zealand
- Merrill Lynch Commodities Europe
- Indian Oil Corporation Limited
- Wilmar Investment Holdings
- Commonwealth Bank - Australia
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Oldendorff Carriers - Singapore
- Marubeni Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Mjunction Services Limited - India
- Parry Sugars Refinery, India
- OPG Power Generation Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Singapore Mercantile Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Borneo Indobara - Indonesia
- San Jose City I Power Corp, Philippines
- London Commodity Brokers - England
- Dalmia Cement Bharat India
- Essar Steel Hazira Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Directorate Of Revenue Intelligence - India
- Agrawal Coal Company - India
- Bhushan Steel Limited - India
- Bangladesh Power Developement Board
- Medco Energi Mining Internasional
- Thiess Contractors Indonesia
- Sojitz Corporation - Japan
- GN Power Mariveles Coal Plant, Philippines
- Eastern Coal Council - USA
- Grasim Industreis Ltd - India
- Tamil Nadu electricity Board
- Meralco Power Generation, Philippines
- Bharathi Cement Corporation - India
- Electricity Authority, New Zealand
- Central Electricity Authority - India
- Kumho Petrochemical, South Korea
- MS Steel International - UAE
- Leighton Contractors Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Jorong Barutama Greston.PT - Indonesia
- PowerSource Philippines DevCo
- Bayan Resources Tbk. - Indonesia
- Bukit Makmur.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Sical Logistics Limited - India
- Antam Resourcindo - Indonesia
- Bulk Trading Sa - Switzerland
- Latin American Coal - Colombia
- Standard Chartered Bank - UAE
- Carbofer General Trading SA - India
- GMR Energy Limited - India
- Anglo American - United Kingdom
- European Bulk Services B.V. - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Wood Mackenzie - Singapore
- Energy Link Ltd, New Zealand
- Kideco Jaya Agung - Indonesia
- Gujarat Sidhee Cement - India
- Eastern Energy - Thailand
- Kaltim Prima Coal - Indonesia
- South Luzon Thermal Energy Corporation
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