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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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Friday, 13 March 15
ADARO RECORDED A 7% INCREASE IN EBITDA OF $877 MILLION IN 2014
“Coal market continues to be difficult and challenging” – Adaro Energy
The world’s Top 5 thermal coal exporter, ...
Thursday, 12 March 15
CAPESIZE : ACTIVITY IS LOW; PANAMAX: BIT MORE ACTIVITY; HANDY: A FIRMING WEEK
Handy
It has been a firming week in both hemispheres this week and especially in the Pacific, says Fearnleys AS in its week's week report.
...
Thursday, 12 March 15
COAL MINERS REMAIN UNDER PRESSURE AS GLUT CONTINUES - THE JAKARTA POST
Indonesia’s major coal miners reported a significant drop in their earnings last year as the sharp drop in the global demand, mainly from Chi ...
Thursday, 12 March 15
FOB INDONESIA COAL SWAP DROP TO $47.33 A TON IN THE WEEK ENDED MAR.6
COALspot.com: Indonesian coal swaps for delivery Q2' 2015 drop month on month and week over week.
The Q2 swap fell US$ 0.37 (0.78%) month ...
Wednesday, 11 March 15
RICHARDS BAY COAL SWAPS DROP $ 3.65 - 4.0/T W-O-W
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 fell US$ ...
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- Goldman Sachs - Singapore
- Rio Tinto Coal - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- McConnell Dowell - Australia
- Kartika Selabumi Mining - Indonesia
- Posco Energy - South Korea
- Power Finance Corporation Ltd., India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhatia International Limited - India
- European Bulk Services B.V. - Netherlands
- Eastern Coal Council - USA
- Tata Chemicals Ltd - India
- Semirara Mining Corp, Philippines
- Kumho Petrochemical, South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Indika Energy - Indonesia
- Marubeni Corporation - India
- Indonesian Coal Mining Association
- Grasim Industreis Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Singapore Mercantile Exchange
- Coal and Oil Company - UAE
- Timah Investasi Mineral - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- Electricity Authority, New Zealand
- Africa Commodities Group - South Africa
- Directorate Of Revenue Intelligence - India
- PNOC Exploration Corporation - Philippines
- White Energy Company Limited
- India Bulls Power Limited - India
- Interocean Group of Companies - India
- Star Paper Mills Limited - India
- Kapuas Tunggal Persada - Indonesia
- Bukit Baiduri Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Minerals Council of Australia
- Ministry of Mines - Canada
- Kaltim Prima Coal - Indonesia
- Australian Coal Association
- Iligan Light & Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- London Commodity Brokers - England
- Banpu Public Company Limited - Thailand
- Samtan Co., Ltd - South Korea
- VISA Power Limited - India
- Jaiprakash Power Ventures ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Xindia Steels Limited - India
- New Zealand Coal & Carbon
- Karaikal Port Pvt Ltd - India
- Bangladesh Power Developement Board
- Sarangani Energy Corporation, Philippines
- Edison Trading Spa - Italy
- Anglo American - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Makarim & Taira - Indonesia
- GAC Shipping (India) Pvt Ltd
- Kideco Jaya Agung - Indonesia
- PowerSource Philippines DevCo
- Leighton Contractors Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- Standard Chartered Bank - UAE
- CIMB Investment Bank - Malaysia
- OPG Power Generation Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Barasentosa Lestari - Indonesia
- Vedanta Resources Plc - India
- Miang Besar Coal Terminal - Indonesia
- Sakthi Sugars Limited - India
- Independent Power Producers Association of India
- IEA Clean Coal Centre - UK
- Kohat Cement Company Ltd. - Pakistan
- Binh Thuan Hamico - Vietnam
- Riau Bara Harum - Indonesia
- Metalloyd Limited - United Kingdom
- Savvy Resources Ltd - HongKong
- Agrawal Coal Company - India
- Medco Energi Mining Internasional
- Offshore Bulk Terminal Pte Ltd, Singapore
- Larsen & Toubro Limited - India
- Toyota Tsusho Corporation, Japan
- Ministry of Finance - Indonesia
- ICICI Bank Limited - India
- Chettinad Cement Corporation Ltd - India
- Sindya Power Generating Company Private Ltd
- Port Waratah Coal Services - Australia
- Dalmia Cement Bharat India
- Mercator Lines Limited - India
- Indian Energy Exchange, India
- Bhushan Steel Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Antam Resourcindo - Indonesia
- Attock Cement Pakistan Limited
- Central Electricity Authority - India
- Asmin Koalindo Tuhup - Indonesia
- Altura Mining Limited, Indonesia
- International Coal Ventures Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- CNBM International Corporation - China
- Ambuja Cements Ltd - India
- Eastern Energy - Thailand
- Meralco Power Generation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Wood Mackenzie - Singapore
- Krishnapatnam Port Company Ltd. - India
- Petrochimia International Co. Ltd.- Taiwan
- Therma Luzon, Inc, Philippines
- Wilmar Investment Holdings
- Indogreen Group - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- MS Steel International - UAE
- South Luzon Thermal Energy Corporation
- Ceylon Electricity Board - Sri Lanka
- SMC Global Power, Philippines
- Energy Link Ltd, New Zealand
- The State Trading Corporation of India Ltd
- Energy Development Corp, Philippines
- Coalindo Energy - Indonesia
- Gujarat Sidhee Cement - India
- Georgia Ports Authority, United States
- Trasteel International SA, Italy
- Baramulti Group, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Pendopo Energi Batubara - Indonesia
- GMR Energy Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Lanco Infratech Ltd - India
- Renaissance Capital - South Africa
- Maharashtra Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Uttam Galva Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Orica Australia Pty. Ltd.
- San Jose City I Power Corp, Philippines
- Price Waterhouse Coopers - Russia
- Parry Sugars Refinery, India
- Sree Jayajothi Cements Limited - India
- Holcim Trading Pte Ltd - Singapore
- Merrill Lynch Commodities Europe
- Bulk Trading Sa - Switzerland
- Global Green Power PLC Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Mintek Dendrill Indonesia
- Commonwealth Bank - Australia
- Globalindo Alam Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Central Java Power - Indonesia
- Carbofer General Trading SA - India
- Parliament of New Zealand
- Bhoruka Overseas - Indonesia
- The University of Queensland
- Coastal Gujarat Power Limited - India
- Ministry of Transport, Egypt
- Planning Commission, India
- TNB Fuel Sdn Bhd - Malaysia
- Romanian Commodities Exchange
- Karbindo Abesyapradhi - Indoneisa
- Essar Steel Hazira Ltd - India
- Aditya Birla Group - India
- The Treasury - Australian Government
- Cement Manufacturers Association - India
- GVK Power & Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Alfred C Toepfer International GmbH - Germany
- Manunggal Multi Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- SN Aboitiz Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Electricity Generating Authority of Thailand
- Mjunction Services Limited - India
- Sojitz Corporation - Japan
- Heidelberg Cement - Germany
- Siam City Cement PLC, Thailand
- IHS Mccloskey Coal Group - USA
- Madhucon Powers Ltd - India
- Economic Council, Georgia
- Borneo Indobara - Indonesia
- Siam City Cement - Thailand
- Maheswari Brothers Coal Limited - India
- Bharathi Cement Corporation - India
- Rashtriya Ispat Nigam Limited - India
- Videocon Industries ltd - India
- Sinarmas Energy and Mining - Indonesia
- Australian Commodity Traders Exchange
- Semirara Mining and Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Indian Oil Corporation Limited
- ASAPP Information Group - India
- Deloitte Consulting - India
- Straits Asia Resources Limited - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Sical Logistics Limited - India
- Kobexindo Tractors - Indoneisa
- Latin American Coal - Colombia
- GN Power Mariveles Coal Plant, Philippines
- Meenaskhi Energy Private Limited - India
- SMG Consultants - Indonesia
- Simpson Spence & Young - Indonesia
- Malabar Cements Ltd - India
- Petron Corporation, Philippines
- Global Business Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Chamber of Mines of South Africa
- Neyveli Lignite Corporation Ltd, - India
- Bayan Resources Tbk. - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Thiess Contractors Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- PTC India Limited - India
- Mercuria Energy - Indonesia
- Thai Mozambique Logistica
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