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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, 19 March 15
INDONESIAN COAL BENCHMARK SOAR 7.69% IN MARCH....!!!
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia revised up Indonesian coal benchmark prices to US$ 67.76 per MT in March ...
Wednesday, 18 March 15
AVERAGE RATE FOR CAPES MOVED TO BELOW $ 4K/DAY LAST WEEK - INTERMODAL
COALspot.com: The even heavier losses noted in the Capesize segment last week, denied the Dry Bulk market a third weekly positive, while the smalle ...
Wednesday, 18 March 15
PARKING THE CAPES - LINOS KOGEVINAS
It is no secret that recent times have been anything but kind towards shipping, and no sector has suffered more lately than the dry bulk one. While ...
Wednesday, 18 March 15
CHINA-OWNED SHIPS: A RAPID RISE TO BECOME ONE OF THE WORLD'S LARGEST FLEETS - RICHARD SCOTT
Ships operated by owners based in China have become increasingly prominent on the world’s sea routes. China-owned container ships, bulk carri ...
Wednesday, 18 March 15
Q2 INDONESIAN COAL SWAP DROP 1.45% M-O-M; GAIN 0.63% W-O-W
COALspot.com: Indonesian coal swaps for delivery Q2' 2015 drop month on month and gained week over week.
The Q2 swap fell US$ 0.70 (1.45%) ...
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- Aditya Birla Group - India
- Chamber of Mines of South Africa
- Electricity Generating Authority of Thailand
- Coalindo Energy - Indonesia
- Wilmar Investment Holdings
- Formosa Plastics Group - Taiwan
- Interocean Group of Companies - India
- Banpu Public Company Limited - Thailand
- Mercator Lines Limited - India
- Antam Resourcindo - Indonesia
- GVK Power & Infra Limited - India
- Standard Chartered Bank - UAE
- Economic Council, Georgia
- Maheswari Brothers Coal Limited - India
- Madhucon Powers Ltd - India
- Rashtriya Ispat Nigam Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Energy Development Corp, Philippines
- San Jose City I Power Corp, Philippines
- Baramulti Group, Indonesia
- Africa Commodities Group - South Africa
- Indian Energy Exchange, India
- Alfred C Toepfer International GmbH - Germany
- Directorate Of Revenue Intelligence - India
- Orica Mining Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cigading International Bulk Terminal - Indonesia
- Parliament of New Zealand
- Therma Luzon, Inc, Philippines
- LBH Netherlands Bv - Netherlands
- CNBM International Corporation - China
- Georgia Ports Authority, United States
- Bhatia International Limited - India
- Latin American Coal - Colombia
- MS Steel International - UAE
- Karaikal Port Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Ministry of Transport, Egypt
- Karbindo Abesyapradhi - Indoneisa
- Romanian Commodities Exchange
- Jindal Steel & Power Ltd - India
- Bhushan Steel Limited - India
- Kohat Cement Company Ltd. - Pakistan
- White Energy Company Limited
- Makarim & Taira - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rio Tinto Coal - Australia
- Kapuas Tunggal Persada - Indonesia
- Ambuja Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Larsen & Toubro Limited - India
- Semirara Mining Corp, Philippines
- VISA Power Limited - India
- Marubeni Corporation - India
- Ministry of Mines - Canada
- CIMB Investment Bank - Malaysia
- Port Waratah Coal Services - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Medco Energi Mining Internasional
- Sree Jayajothi Cements Limited - India
- Kaltim Prima Coal - Indonesia
- Carbofer General Trading SA - India
- Semirara Mining and Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Jaiprakash Power Ventures ltd
- Neyveli Lignite Corporation Ltd, - India
- Price Waterhouse Coopers - Russia
- Tamil Nadu electricity Board
- Mintek Dendrill Indonesia
- Vedanta Resources Plc - India
- Eastern Coal Council - USA
- Eastern Energy - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- McConnell Dowell - Australia
- Lanco Infratech Ltd - India
- Dalmia Cement Bharat India
- London Commodity Brokers - England
- Petron Corporation, Philippines
- IEA Clean Coal Centre - UK
- Anglo American - United Kingdom
- Independent Power Producers Association of India
- Sakthi Sugars Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement PLC, Thailand
- Intertek Mineral Services - Indonesia
- South Luzon Thermal Energy Corporation
- Billiton Holdings Pty Ltd - Australia
- Grasim Industreis Ltd - India
- Kartika Selabumi Mining - Indonesia
- Deloitte Consulting - India
- Indian Oil Corporation Limited
- Metalloyd Limited - United Kingdom
- Singapore Mercantile Exchange
- GN Power Mariveles Coal Plant, Philippines
- Bharathi Cement Corporation - India
- SN Aboitiz Power Inc, Philippines
- Minerals Council of Australia
- Borneo Indobara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Aboitiz Power Corporation - Philippines
- Global Business Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Wood Mackenzie - Singapore
- Agrawal Coal Company - India
- India Bulls Power Limited - India
- Trasteel International SA, Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Baiduri Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Ministry of Finance - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Manunggal Multi Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Parry Sugars Refinery, India
- Indo Tambangraya Megah - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Goldman Sachs - Singapore
- Star Paper Mills Limited - India
- Salva Resources Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Sojitz Corporation - Japan
- Toyota Tsusho Corporation, Japan
- Orica Australia Pty. Ltd.
- OPG Power Generation Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Globalindo Alam Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ASAPP Information Group - India
- SMG Consultants - Indonesia
- Attock Cement Pakistan Limited
- International Coal Ventures Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Tata Chemicals Ltd - India
- Uttam Galva Steels Limited - India
- Commonwealth Bank - Australia
- Renaissance Capital - South Africa
- Sarangani Energy Corporation, Philippines
- Bangladesh Power Developement Board
- Ceylon Electricity Board - Sri Lanka
- Heidelberg Cement - Germany
- Gujarat Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Energy Link Ltd, New Zealand
- Indika Energy - Indonesia
- Thiess Contractors Indonesia
- PNOC Exploration Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Kobexindo Tractors - Indoneisa
- Planning Commission, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meenaskhi Energy Private Limited - India
- Edison Trading Spa - Italy
- Kumho Petrochemical, South Korea
- Coal and Oil Company - UAE
- Altura Mining Limited, Indonesia
- Gujarat Sidhee Cement - India
- Global Coal Blending Company Limited - Australia
- Australian Commodity Traders Exchange
- Central Electricity Authority - India
- Sical Logistics Limited - India
- Samtan Co., Ltd - South Korea
- Krishnapatnam Port Company Ltd. - India
- Indonesian Coal Mining Association
- Kalimantan Lumbung Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Chettinad Cement Corporation Ltd - India
- The University of Queensland
- IHS Mccloskey Coal Group - USA
- Thai Mozambique Logistica
- Asmin Koalindo Tuhup - Indonesia
- Oldendorff Carriers - Singapore
- Global Green Power PLC Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Timah Investasi Mineral - Indoneisa
- SMC Global Power, Philippines
- Riau Bara Harum - Indonesia
- The Treasury - Australian Government
- Xindia Steels Limited - India
- Malabar Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Pendopo Energi Batubara - Indonesia
- The State Trading Corporation of India Ltd
- Videocon Industries ltd - India
- ICICI Bank Limited - India
- Power Finance Corporation Ltd., India
- Cement Manufacturers Association - India
- Central Java Power - Indonesia
- TeaM Sual Corporation - Philippines
- Siam City Cement - Thailand
- Posco Energy - South Korea
- PTC India Limited - India
- Savvy Resources Ltd - HongKong
- Meralco Power Generation, Philippines
- Indogreen Group - Indonesia
- Binh Thuan Hamico - Vietnam
- Kideco Jaya Agung - Indonesia
- Australian Coal Association
- Mjunction Services Limited - India
- Leighton Contractors Pty Ltd - Australia
- New Zealand Coal & Carbon
- Bulk Trading Sa - Switzerland
- Bukit Makmur.PT - Indonesia
- PowerSource Philippines DevCo
- Bayan Resources Tbk. - Indonesia
- Electricity Authority, New Zealand
- Coastal Gujarat Power Limited - India
- GMR Energy Limited - India
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