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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, 16 March 15
API 5 FOB NEWCASTLE COAL SWAPS: DECLINED
COALspot.com: API 5 FOB Newcastle Coal swap for Q2’ 2015 delivery declined US$ 2.48 per MT (-4.77%) month over month and US$ 0.93 (-1.84%) we ...
Monday, 16 March 15
CFR SOUTH CHINA THERMAL COAL SWAP DECLINED 3.74% M-O-M
COALspot.com: API 8 CFR South China Coal swap for Q2’ 2015 delivery declined US$ 2.17 (-3.74%) per MT month over month and US$ 0.67 (-1 ...
Sunday, 15 March 15
BDI DECLINED LESSER THAN 1% WEEK OVER WEEK; INDO-INDIA FIRM
COALspot.com: The most of indices, including bulk dry index were falling this week. The BDI has been down by just 0.53 points and closing at 562 po ...
Saturday, 14 March 15
CAPESIZE DRY BULKERS TO AVERAGE BETWEEN $3,000 AND $9,000/DAY IN THE COMING WEEKS SAYS BIMCO
BIMCO issued its latest short-term estimates for the dry bulk market. For March/May: BIMCO assesses that the Capesize time charter (T/C) average ra ...
Friday, 13 March 15
U.S. COAL PRODUCTION UP 2.3% WEEK OVER WEEK
COALspot.com – United States the world's one of the largest coal producers, produced approximately 17.5 million short tons (mmst) of coal ...
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- Standard Chartered Bank - UAE
- Renaissance Capital - South Africa
- Singapore Mercantile Exchange
- Attock Cement Pakistan Limited
- Mjunction Services Limited - India
- Cement Manufacturers Association - India
- International Coal Ventures Pvt Ltd - India
- Parliament of New Zealand
- Lanco Infratech Ltd - India
- SMC Global Power, Philippines
- Directorate Of Revenue Intelligence - India
- Billiton Holdings Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kohat Cement Company Ltd. - Pakistan
- Chamber of Mines of South Africa
- Savvy Resources Ltd - HongKong
- Kaltim Prima Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Karbindo Abesyapradhi - Indoneisa
- Planning Commission, India
- Parry Sugars Refinery, India
- Commonwealth Bank - Australia
- Malabar Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Aditya Birla Group - India
- Dalmia Cement Bharat India
- IHS Mccloskey Coal Group - USA
- ASAPP Information Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Orica Mining Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- Riau Bara Harum - Indonesia
- Simpson Spence & Young - Indonesia
- Kumho Petrochemical, South Korea
- Posco Energy - South Korea
- Australian Commodity Traders Exchange
- MS Steel International - UAE
- Marubeni Corporation - India
- Medco Energi Mining Internasional
- Ministry of Transport, Egypt
- CIMB Investment Bank - Malaysia
- Wood Mackenzie - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Therma Luzon, Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Krishnapatnam Port Company Ltd. - India
- Directorate General of MIneral and Coal - Indonesia
- Madhucon Powers Ltd - India
- Meralco Power Generation, Philippines
- Bhatia International Limited - India
- Price Waterhouse Coopers - Russia
- Grasim Industreis Ltd - India
- Romanian Commodities Exchange
- Bhoruka Overseas - Indonesia
- Aboitiz Power Corporation - Philippines
- Sakthi Sugars Limited - India
- Vedanta Resources Plc - India
- Wilmar Investment Holdings
- European Bulk Services B.V. - Netherlands
- SN Aboitiz Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Economic Council, Georgia
- Oldendorff Carriers - Singapore
- Interocean Group of Companies - India
- London Commodity Brokers - England
- Videocon Industries ltd - India
- Coal and Oil Company - UAE
- Larsen & Toubro Limited - India
- Sree Jayajothi Cements Limited - India
- Edison Trading Spa - Italy
- Ministry of Mines - Canada
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coastal Gujarat Power Limited - India
- Bharathi Cement Corporation - India
- Alfred C Toepfer International GmbH - Germany
- India Bulls Power Limited - India
- Deloitte Consulting - India
- The University of Queensland
- Africa Commodities Group - South Africa
- Indonesian Coal Mining Association
- Uttam Galva Steels Limited - India
- Petron Corporation, Philippines
- SMG Consultants - Indonesia
- Meenaskhi Energy Private Limited - India
- Sindya Power Generating Company Private Ltd
- Essar Steel Hazira Ltd - India
- Energy Link Ltd, New Zealand
- Global Green Power PLC Corporation, Philippines
- Heidelberg Cement - Germany
- Ambuja Cements Ltd - India
- McConnell Dowell - Australia
- Indika Energy - Indonesia
- Independent Power Producers Association of India
- Maheswari Brothers Coal Limited - India
- CNBM International Corporation - China
- Thiess Contractors Indonesia
- Thai Mozambique Logistica
- Carbofer General Trading SA - India
- Sojitz Corporation - Japan
- Samtan Co., Ltd - South Korea
- Orica Australia Pty. Ltd.
- Gujarat Sidhee Cement - India
- Goldman Sachs - Singapore
- Merrill Lynch Commodities Europe
- Ceylon Electricity Board - Sri Lanka
- Power Finance Corporation Ltd., India
- ICICI Bank Limited - India
- Kobexindo Tractors - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Makarim & Taira - Indonesia
- Sical Logistics Limited - India
- Anglo American - United Kingdom
- Salva Resources Pvt Ltd - India
- Ministry of Finance - Indonesia
- Minerals Council of Australia
- Manunggal Multi Energi - Indonesia
- Bangladesh Power Developement Board
- The Treasury - Australian Government
- Agrawal Coal Company - India
- PetroVietnam Power Coal Import and Supply Company
- LBH Netherlands Bv - Netherlands
- Altura Mining Limited, Indonesia
- Semirara Mining Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Georgia Ports Authority, United States
- Leighton Contractors Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Sarangani Energy Corporation, Philippines
- Siam City Cement PLC, Thailand
- Australian Coal Association
- Jaiprakash Power Ventures ltd
- Latin American Coal - Colombia
- Xindia Steels Limited - India
- Vizag Seaport Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Straits Asia Resources Limited - Singapore
- Energy Development Corp, Philippines
- Bhushan Steel Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Borneo Indobara - Indonesia
- Trasteel International SA, Italy
- Indian Energy Exchange, India
- Tata Chemicals Ltd - India
- South Luzon Thermal Energy Corporation
- Iligan Light & Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Mercator Lines Limited - India
- Electricity Authority, New Zealand
- Coalindo Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- GMR Energy Limited - India
- VISA Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- Siam City Cement - Thailand
- Globalindo Alam Lestari - Indonesia
- Rio Tinto Coal - Australia
- Tamil Nadu electricity Board
- Global Coal Blending Company Limited - Australia
- Kartika Selabumi Mining - Indonesia
- Banpu Public Company Limited - Thailand
- Eastern Coal Council - USA
- Formosa Plastics Group - Taiwan
- Baramulti Group, Indonesia
- Global Business Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- GVK Power & Infra Limited - India
- San Jose City I Power Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- PTC India Limited - India
- Electricity Generating Authority of Thailand
- GN Power Mariveles Coal Plant, Philippines
- Toyota Tsusho Corporation, Japan
- The State Trading Corporation of India Ltd
- Mintek Dendrill Indonesia
- Kapuas Tunggal Persada - Indonesia
- Antam Resourcindo - Indonesia
- Port Waratah Coal Services - Australia
- Pendopo Energi Batubara - Indonesia
- Intertek Mineral Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- New Zealand Coal & Carbon
- Central Java Power - Indonesia
- TeaM Sual Corporation - Philippines
- Mercuria Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Indian Oil Corporation Limited
- Indogreen Group - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- GAC Shipping (India) Pvt Ltd
- Karaikal Port Pvt Ltd - India
- Eastern Energy - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Holcim Trading Pte Ltd - Singapore
- AsiaOL BioFuels Corp., Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- White Energy Company Limited
- Asmin Koalindo Tuhup - Indonesia
- Bukit Makmur.PT - Indonesia
- Jindal Steel & Power Ltd - India
- PNOC Exploration Corporation - Philippines
- Central Electricity Authority - India
- PowerSource Philippines DevCo
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