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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, 23 March 15
SEABORNE WORLD COAL TRADE: GROWTH +5% - GERMAN COAL IMPORTER ASSOCIATION
Hard Coal Market 2014: Despite The Energy Turnaround, Hard Coal Imports To Germany Rise By More Than 6%, Although Hard Coal-Fired Power Generation ...
Sunday, 22 March 15
DRY BULK RATES CONTINUED TO RISE THIS WEEK
COALspot.com: The freight market was steady this week as all the segments increased after many weeks of weak trend.
The Baltic Dry Index (BDI) ...
Friday, 20 March 15
HARD COAL MARKET 2014: DESPITE THE ENERGY TURNAROUND, HARD COAL IMPORTS TO GERMANY RISE BY MORE THAN 6% (PART 1)
Hard Coal Market 2014: Despite The Energy Turnaround, Hard Coal Imports To Germany Rise By More Than 6%, Although Hard Coal-Fired Power Generation ...
Friday, 20 March 15
U.S. WEEKLY COAL PRODUCTION SHOWS 5.9% INCREASE WEEK OVER WEEK - EIA
COALspot.com – United States the world's one of the largest coal producers, produced approximately 18.5 million short tons (mmst) of coal ...
Thursday, 19 March 15
HANDY: INDO COAL CARGOS DESTINED FOR INDIA BEING FIXED IN REGION OF $ 7-8K - FEARNLEYS
Handy
The Handy and Supra market has had a week with mixed signals. Although we see more activity in both hemispheres the rates are only up about ...
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- Central Java Power - Indonesia
- Bhushan Steel Limited - India
- Therma Luzon, Inc, Philippines
- Sakthi Sugars Limited - India
- Sinarmas Energy and Mining - Indonesia
- Coalindo Energy - Indonesia
- Siam City Cement - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- SN Aboitiz Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Power Finance Corporation Ltd., India
- Kepco SPC Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Oldendorff Carriers - Singapore
- Riau Bara Harum - Indonesia
- Jindal Steel & Power Ltd - India
- Manunggal Multi Energi - Indonesia
- IEA Clean Coal Centre - UK
- Borneo Indobara - Indonesia
- Attock Cement Pakistan Limited
- Banpu Public Company Limited - Thailand
- Bangladesh Power Developement Board
- The State Trading Corporation of India Ltd
- OPG Power Generation Pvt Ltd - India
- Singapore Mercantile Exchange
- Indogreen Group - Indonesia
- GMR Energy Limited - India
- Grasim Industreis Ltd - India
- Mjunction Services Limited - India
- Meenaskhi Energy Private Limited - India
- Toyota Tsusho Corporation, Japan
- MS Steel International - UAE
- Renaissance Capital - South Africa
- Medco Energi Mining Internasional
- Xindia Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Indian Energy Exchange, India
- Energy Link Ltd, New Zealand
- Posco Energy - South Korea
- Planning Commission, India
- Simpson Spence & Young - Indonesia
- Intertek Mineral Services - Indonesia
- Coastal Gujarat Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Coal Council - USA
- Rashtriya Ispat Nigam Limited - India
- Miang Besar Coal Terminal - Indonesia
- Indika Energy - Indonesia
- Siam City Cement PLC, Thailand
- Kobexindo Tractors - Indoneisa
- PNOC Exploration Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Standard Chartered Bank - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Star Paper Mills Limited - India
- The University of Queensland
- Salva Resources Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Thai Mozambique Logistica
- Kumho Petrochemical, South Korea
- Baramulti Group, Indonesia
- Mercuria Energy - Indonesia
- Economic Council, Georgia
- Binh Thuan Hamico - Vietnam
- Vizag Seaport Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- New Zealand Coal & Carbon
- Dalmia Cement Bharat India
- Cigading International Bulk Terminal - Indonesia
- Orica Australia Pty. Ltd.
- VISA Power Limited - India
- Trasteel International SA, Italy
- Kideco Jaya Agung - Indonesia
- Commonwealth Bank - Australia
- TNB Fuel Sdn Bhd - Malaysia
- India Bulls Power Limited - India
- Petron Corporation, Philippines
- Independent Power Producers Association of India
- South Luzon Thermal Energy Corporation
- Globalindo Alam Lestari - Indonesia
- Central Electricity Authority - India
- Global Business Power Corporation, Philippines
- Carbofer General Trading SA - India
- Heidelberg Cement - Germany
- Bhoruka Overseas - Indonesia
- Ambuja Cements Ltd - India
- Malabar Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Tamil Nadu electricity Board
- Savvy Resources Ltd - HongKong
- Videocon Industries ltd - India
- Sree Jayajothi Cements Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Commodity Traders Exchange
- GVK Power & Infra Limited - India
- Indonesian Coal Mining Association
- IHS Mccloskey Coal Group - USA
- Bukit Baiduri Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Port Waratah Coal Services - Australia
- Tata Chemicals Ltd - India
- ICICI Bank Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Mintek Dendrill Indonesia
- Formosa Plastics Group - Taiwan
- Ministry of Mines - Canada
- CNBM International Corporation - China
- Indian Oil Corporation Limited
- PowerSource Philippines DevCo
- Maheswari Brothers Coal Limited - India
- Ministry of Transport, Egypt
- Straits Asia Resources Limited - Singapore
- Latin American Coal - Colombia
- Bukit Makmur.PT - Indonesia
- Mercator Lines Limited - India
- Bulk Trading Sa - Switzerland
- Karaikal Port Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Antam Resourcindo - Indonesia
- London Commodity Brokers - England
- Aditya Birla Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wood Mackenzie - Singapore
- Chettinad Cement Corporation Ltd - India
- Ministry of Finance - Indonesia
- White Energy Company Limited
- Cement Manufacturers Association - India
- Romanian Commodities Exchange
- Metalloyd Limited - United Kingdom
- Price Waterhouse Coopers - Russia
- LBH Netherlands Bv - Netherlands
- Kaltim Prima Coal - Indonesia
- San Jose City I Power Corp, Philippines
- Anglo American - United Kingdom
- Bhatia International Limited - India
- Timah Investasi Mineral - Indoneisa
- Sical Logistics Limited - India
- Pendopo Energi Batubara - Indonesia
- Marubeni Corporation - India
- International Coal Ventures Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- CIMB Investment Bank - Malaysia
- Kartika Selabumi Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Energy Development Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Lanco Infratech Ltd - India
- Jaiprakash Power Ventures ltd
- PetroVietnam Power Coal Import and Supply Company
- Ind-Barath Power Infra Limited - India
- Altura Mining Limited, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Africa Commodities Group - South Africa
- Semirara Mining and Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Uttam Galva Steels Limited - India
- PTC India Limited - India
- Alfred C Toepfer International GmbH - Germany
- The Treasury - Australian Government
- Larsen & Toubro Limited - India
- Global Coal Blending Company Limited - Australia
- SMC Global Power, Philippines
- Holcim Trading Pte Ltd - Singapore
- Georgia Ports Authority, United States
- Gujarat Sidhee Cement - India
- Electricity Authority, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Madhucon Powers Ltd - India
- Makarim & Taira - Indonesia
- Parliament of New Zealand
- Minerals Council of Australia
- Goldman Sachs - Singapore
- Australian Coal Association
- Merrill Lynch Commodities Europe
- Interocean Group of Companies - India
- TeaM Sual Corporation - Philippines
- Wilmar Investment Holdings
- Barasentosa Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Leighton Contractors Pty Ltd - Australia
- SMG Consultants - Indonesia
- Orica Mining Services - Indonesia
- Parry Sugars Refinery, India
- Samtan Co., Ltd - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GN Power Mariveles Coal Plant, Philippines
- Agrawal Coal Company - India
- Coal and Oil Company - UAE
- Billiton Holdings Pty Ltd - Australia
- Vedanta Resources Plc - India
- Aboitiz Power Corporation - Philippines
- McConnell Dowell - Australia
- Deloitte Consulting - India
- Sarangani Energy Corporation, Philippines
- Meralco Power Generation, Philippines
- Rio Tinto Coal - Australia
- ASAPP Information Group - India
- Bharathi Cement Corporation - India
- Chamber of Mines of South Africa
- Global Green Power PLC Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Eastern Energy - Thailand
- Sojitz Corporation - Japan
- Bayan Resources Tbk. - Indonesia
- Thiess Contractors Indonesia
- Krishnapatnam Port Company Ltd. - India
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