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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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Sunday, 08 March 15
FREIGHT RATES FROM INDONESIA TO INDIA IS TRENDING UP
COALspot.com: The freight market continued to see gains this week and all the indices were rose except for Cape index. The BDI was increased 4.62 p ...
Friday, 06 March 15
BALTIC DRY INDEX: IS THIS POWERFUL INDICATOR SIGNALING A GLOBAL RECESSION? - STREET AUTHORITY
Although memories of the Great Recession linger, a case can be made that better days lie ahead.
That’s because central banks around the ...
Friday, 06 March 15
U.S. WEEKLY COAL PRODUCTION ROSE 3.5% WEEK ON WEEK
COALspot.com – United States the world's one of the largest coal producers, produced approximately 17.1 million short tons (mmst) of coal ...
Thursday, 05 March 15
PANAMAX : THE ATLANTIC ROUND IS NOW PAYING AROUND US$ 5K PER DAY
COALspot.com: Handy - The activity in the handy/supra segment is back. “ We see more fresh cargo in the market for 2nd half March dates ...
Thursday, 05 March 15
INDIA WILL BE THE LARGEST DRIVER OF GLOBAL SEABORNE COKING COAL DEMAND GROWTH IN 2015 - WOOD MACKENZIE
Global demand growth will remain weak because of China’s negative demand growth.
COALspot.com: At Coaltrans India, Wood Mackenzie says I ...
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- GAC Shipping (India) Pvt Ltd
- Grasim Industreis Ltd - India
- Bhatia International Limited - India
- Independent Power Producers Association of India
- Siam City Cement PLC, Thailand
- Ministry of Mines - Canada
- Makarim & Taira - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Energy Development Corp, Philippines
- Orica Australia Pty. Ltd.
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maheswari Brothers Coal Limited - India
- Orica Mining Services - Indonesia
- Posco Energy - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Authority, New Zealand
- Jaiprakash Power Ventures ltd
- Timah Investasi Mineral - Indoneisa
- Singapore Mercantile Exchange
- Toyota Tsusho Corporation, Japan
- Simpson Spence & Young - Indonesia
- Minerals Council of Australia
- Samtan Co., Ltd - South Korea
- Salva Resources Pvt Ltd - India
- Wood Mackenzie - Singapore
- International Coal Ventures Pvt Ltd - India
- MS Steel International - UAE
- Coastal Gujarat Power Limited - India
- Intertek Mineral Services - Indonesia
- Economic Council, Georgia
- Marubeni Corporation - India
- Parry Sugars Refinery, India
- Bayan Resources Tbk. - Indonesia
- White Energy Company Limited
- Sinarmas Energy and Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Jindal Steel & Power Ltd - India
- Straits Asia Resources Limited - Singapore
- SMG Consultants - Indonesia
- Australian Commodity Traders Exchange
- Banpu Public Company Limited - Thailand
- Commonwealth Bank - Australia
- Global Green Power PLC Corporation, Philippines
- Goldman Sachs - Singapore
- Kaltim Prima Coal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Vizag Seaport Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Thiess Contractors Indonesia
- LBH Netherlands Bv - Netherlands
- Wilmar Investment Holdings
- Tamil Nadu electricity Board
- Kepco SPC Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Sarangani Energy Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Petron Corporation, Philippines
- Madhucon Powers Ltd - India
- Iligan Light & Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Mintek Dendrill Indonesia
- Altura Mining Limited, Indonesia
- Latin American Coal - Colombia
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining and Power Corporation, Philippines
- Mercuria Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Baramulti Group, Indonesia
- Port Waratah Coal Services - Australia
- Krishnapatnam Port Company Ltd. - India
- Globalindo Alam Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- London Commodity Brokers - England
- Kideco Jaya Agung - Indonesia
- The Treasury - Australian Government
- Maharashtra Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- Kartika Selabumi Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Sindya Power Generating Company Private Ltd
- GN Power Mariveles Coal Plant, Philippines
- Borneo Indobara - Indonesia
- Romanian Commodities Exchange
- Barasentosa Lestari - Indonesia
- Ministry of Transport, Egypt
- Gujarat Mineral Development Corp Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Georgia Ports Authority, United States
- Xindia Steels Limited - India
- Anglo American - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- India Bulls Power Limited - India
- Agrawal Coal Company - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Power Finance Corporation Ltd., India
- SN Aboitiz Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- PTC India Limited - India
- Rio Tinto Coal - Australia
- TeaM Sual Corporation - Philippines
- Australian Coal Association
- Tata Chemicals Ltd - India
- Oldendorff Carriers - Singapore
- San Jose City I Power Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Metalloyd Limited - United Kingdom
- GVK Power & Infra Limited - India
- ASAPP Information Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Africa Commodities Group - South Africa
- VISA Power Limited - India
- Bangladesh Power Developement Board
- McConnell Dowell - Australia
- Bharathi Cement Corporation - India
- Indian Oil Corporation Limited
- Karaikal Port Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- South Luzon Thermal Energy Corporation
- Indika Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Uttam Galva Steels Limited - India
- Ministry of Finance - Indonesia
- Edison Trading Spa - Italy
- Thai Mozambique Logistica
- Cement Manufacturers Association - India
- Bhoruka Overseas - Indonesia
- Mjunction Services Limited - India
- Kumho Petrochemical, South Korea
- Star Paper Mills Limited - India
- Ambuja Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Energy Link Ltd, New Zealand
- Coal and Oil Company - UAE
- Directorate Of Revenue Intelligence - India
- The University of Queensland
- Riau Bara Harum - Indonesia
- Trasteel International SA, Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Price Waterhouse Coopers - Russia
- PowerSource Philippines DevCo
- European Bulk Services B.V. - Netherlands
- IEA Clean Coal Centre - UK
- Vedanta Resources Plc - India
- The State Trading Corporation of India Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- IHS Mccloskey Coal Group - USA
- Videocon Industries ltd - India
- Sojitz Corporation - Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TNB Fuel Sdn Bhd - Malaysia
- Meralco Power Generation, Philippines
- CIMB Investment Bank - Malaysia
- Central Java Power - Indonesia
- Sical Logistics Limited - India
- Bulk Trading Sa - Switzerland
- Karbindo Abesyapradhi - Indoneisa
- Electricity Generating Authority of Thailand
- Dalmia Cement Bharat India
- Indonesian Coal Mining Association
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Coal Council - USA
- Lanco Infratech Ltd - India
- New Zealand Coal & Carbon
- Pendopo Energi Batubara - Indonesia
- Carbofer General Trading SA - India
- Bukit Makmur.PT - Indonesia
- CNBM International Corporation - China
- Global Business Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Chamber of Mines of South Africa
- SMC Global Power, Philippines
- Parliament of New Zealand
- Interocean Group of Companies - India
- Miang Besar Coal Terminal - Indonesia
- Heidelberg Cement - Germany
- Mercator Lines Limited - India
- Global Coal Blending Company Limited - Australia
- Neyveli Lignite Corporation Ltd, - India
- Planning Commission, India
- Indogreen Group - Indonesia
- GMR Energy Limited - India
- Gujarat Sidhee Cement - India
- Essar Steel Hazira Ltd - India
- Siam City Cement - Thailand
- Ind-Barath Power Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Bhushan Steel Limited - India
- Larsen & Toubro Limited - India
- Antam Resourcindo - Indonesia
- Deloitte Consulting - India
- Coalindo Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- Merrill Lynch Commodities Europe
- Central Electricity Authority - India
- Indian Energy Exchange, India
- Renaissance Capital - South Africa
- Asmin Koalindo Tuhup - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kalimantan Lumbung Energi - Indonesia
- Malabar Cements Ltd - India
- Aditya Birla Group - India
- Meenaskhi Energy Private Limited - India
- Medco Energi Mining Internasional
- Eastern Energy - Thailand
- ICICI Bank Limited - India
- Kohat Cement Company Ltd. - Pakistan
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