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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, 17 March 15
GAS TO CHALLENGE COAL IN THE ASIAN POWER GENERATION MIX - WOOD MACKENZIE
KNOWLEDGE TO ELEVATE
Wood Mackenzie says that coal is facing increasing competition from gas in the power sector. Coal has dominated as the fu ...
Tuesday, 17 March 15
RIO TINTO PAID US$ 7.1 BILLION IN TAXES IN 2014
COALspot.com: Rio Tinto has published its latest Taxes paid report, detailing the US$7.1 billion in taxes paid by the company around the world in 2 ...
Tuesday, 17 March 15
NEARLY 17% OF US COAL PRODUCTION UNECONOMIC AT CURRENT MARKET PRICING - WOOD MACKENZIE
COALspot.com: Close to 17% of forecast 2015 US coal production is at risk of idling or closure, totalling 162 million short tons (Mst), as these mi ...
Tuesday, 17 March 15
Q3' SA COAL SWAP CLOSED $57.30 PMT W/E 13 MARCH
COALspot.com: API 4 FOB Richards Bay Coal swap for delivery Q2' 2015 declined month over month and gained week on week.
The Q2 swap has fe ...
Monday, 16 March 15
MAKING THE WORLD GO ROUND - SEABORNE TRADE! - CLARKSONS
Money, or even love if you prefer, are claimed to make the world go round. For the shipping world, however, it’s trade that sets things spinn ...
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- SMC Global Power, Philippines
- TeaM Sual Corporation - Philippines
- White Energy Company Limited
- Edison Trading Spa - Italy
- GN Power Mariveles Coal Plant, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Indonesian Coal Mining Association
- Baramulti Group, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Leighton Contractors Pty Ltd - Australia
- Latin American Coal - Colombia
- AsiaOL BioFuels Corp., Philippines
- Mercator Lines Limited - India
- Wood Mackenzie - Singapore
- Bharathi Cement Corporation - India
- Tata Chemicals Ltd - India
- PowerSource Philippines DevCo
- Therma Luzon, Inc, Philippines
- Coastal Gujarat Power Limited - India
- Sarangani Energy Corporation, Philippines
- Carbofer General Trading SA - India
- Indika Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Ministry of Mines - Canada
- Heidelberg Cement - Germany
- Kalimantan Lumbung Energi - Indonesia
- Orica Mining Services - Indonesia
- Samtan Co., Ltd - South Korea
- Kobexindo Tractors - Indoneisa
- Manunggal Multi Energi - Indonesia
- Ministry of Finance - Indonesia
- Ambuja Cements Ltd - India
- Vizag Seaport Private Limited - India
- Energy Development Corp, Philippines
- Commonwealth Bank - Australia
- Global Business Power Corporation, Philippines
- Sojitz Corporation - Japan
- IHS Mccloskey Coal Group - USA
- Rio Tinto Coal - Australia
- Simpson Spence & Young - Indonesia
- Medco Energi Mining Internasional
- Central Electricity Authority - India
- Holcim Trading Pte Ltd - Singapore
- Renaissance Capital - South Africa
- Electricity Authority, New Zealand
- San Jose City I Power Corp, Philippines
- ICICI Bank Limited - India
- Meralco Power Generation, Philippines
- Kartika Selabumi Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Standard Chartered Bank - UAE
- Maheswari Brothers Coal Limited - India
- Wilmar Investment Holdings
- Sree Jayajothi Cements Limited - India
- Straits Asia Resources Limited - Singapore
- Siam City Cement - Thailand
- Indian Oil Corporation Limited
- Eastern Coal Council - USA
- Dalmia Cement Bharat India
- London Commodity Brokers - England
- Bukit Baiduri Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- OPG Power Generation Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Xindia Steels Limited - India
- Mjunction Services Limited - India
- Semirara Mining Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Lanco Infratech Ltd - India
- Savvy Resources Ltd - HongKong
- Semirara Mining and Power Corporation, Philippines
- The Treasury - Australian Government
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement PLC, Thailand
- Bangladesh Power Developement Board
- Riau Bara Harum - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Electricity Generating Authority of Thailand
- Madhucon Powers Ltd - India
- Agrawal Coal Company - India
- Jorong Barutama Greston.PT - Indonesia
- Indogreen Group - Indonesia
- Independent Power Producers Association of India
- SN Aboitiz Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- Rashtriya Ispat Nigam Limited - India
- Ceylon Electricity Board - Sri Lanka
- Sakthi Sugars Limited - India
- Uttam Galva Steels Limited - India
- IEA Clean Coal Centre - UK
- Formosa Plastics Group - Taiwan
- Bhushan Steel Limited - India
- Global Green Power PLC Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- India Bulls Power Limited - India
- Interocean Group of Companies - India
- Makarim & Taira - Indonesia
- CIMB Investment Bank - Malaysia
- Kepco SPC Power Corporation, Philippines
- Thai Mozambique Logistica
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The State Trading Corporation of India Ltd
- PetroVietnam Power Coal Import and Supply Company
- Coalindo Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- SMG Consultants - Indonesia
- Minerals Council of Australia
- Petrochimia International Co. Ltd.- Taiwan
- Metalloyd Limited - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- Deloitte Consulting - India
- MS Steel International - UAE
- Eastern Energy - Thailand
- Tamil Nadu electricity Board
- Bhatia International Limited - India
- Timah Investasi Mineral - Indoneisa
- Star Paper Mills Limited - India
- Kapuas Tunggal Persada - Indonesia
- South Luzon Thermal Energy Corporation
- Directorate General of MIneral and Coal - Indonesia
- Planning Commission, India
- Billiton Holdings Pty Ltd - Australia
- Videocon Industries ltd - India
- Bulk Trading Sa - Switzerland
- GMR Energy Limited - India
- Ind-Barath Power Infra Limited - India
- Jindal Steel & Power Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- PTC India Limited - India
- Globalindo Alam Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Economic Council, Georgia
- Kumho Petrochemical, South Korea
- Thiess Contractors Indonesia
- Bhoruka Overseas - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bayan Resources Tbk. - Indonesia
- Binh Thuan Hamico - Vietnam
- Merrill Lynch Commodities Europe
- Coal and Oil Company - UAE
- The University of Queensland
- Singapore Mercantile Exchange
- Asmin Koalindo Tuhup - Indonesia
- Banpu Public Company Limited - Thailand
- Mintek Dendrill Indonesia
- Cigading International Bulk Terminal - Indonesia
- GVK Power & Infra Limited - India
- Cement Manufacturers Association - India
- Parry Sugars Refinery, India
- Salva Resources Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Alfred C Toepfer International GmbH - Germany
- Orica Australia Pty. Ltd.
- Posco Energy - South Korea
- Antam Resourcindo - Indonesia
- Altura Mining Limited, Indonesia
- Mercuria Energy - Indonesia
- Borneo Indobara - Indonesia
- Kaltim Prima Coal - Indonesia
- Sical Logistics Limited - India
- Attock Cement Pakistan Limited
- Central Java Power - Indonesia
- Bukit Makmur.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Aditya Birla Group - India
- Ministry of Transport, Egypt
- CNBM International Corporation - China
- Chamber of Mines of South Africa
- Essar Steel Hazira Ltd - India
- Gujarat Sidhee Cement - India
- Petron Corporation, Philippines
- Power Finance Corporation Ltd., India
- Malabar Cements Ltd - India
- New Zealand Coal & Carbon
- Goldman Sachs - Singapore
- Larsen & Toubro Limited - India
- McConnell Dowell - Australia
- Georgia Ports Authority, United States
- Offshore Bulk Terminal Pte Ltd, Singapore
- Grasim Industreis Ltd - India
- Meenaskhi Energy Private Limited - India
- Jaiprakash Power Ventures ltd
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Oldendorff Carriers - Singapore
- Indo Tambangraya Megah - Indonesia
- International Coal Ventures Pvt Ltd - India
- Indian Energy Exchange, India
- Romanian Commodities Exchange
- Australian Commodity Traders Exchange
- Parliament of New Zealand
- Anglo American - United Kingdom
- Price Waterhouse Coopers - Russia
- Pendopo Energi Batubara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Energy Link Ltd, New Zealand
- Africa Commodities Group - South Africa
- Australian Coal Association
- Miang Besar Coal Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- VISA Power Limited - India
- Intertek Mineral Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Trasteel International SA, Italy
- Vedanta Resources Plc - India
- GAC Shipping (India) Pvt Ltd
- TNB Fuel Sdn Bhd - Malaysia
- ASAPP Information Group - India
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