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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, 05 March 15
BUKIT ASAM BOOKED US$ 1 BILLION REVENUE IN 2014
COALspot.com: Indonesian publicly listed and state owned coal miner PT. Bukit Asam, has announced that, the revenue of the company for the period J ...
Wednesday, 04 March 15
AN AGENDA FOR CHANGE - FITCH INDONESIA CONFERENCE
Fitch Indonesia Conference - 5 March 2015
Fitch Ratings will host its annual Indonesia conference on 5 March 2015.
The theme of this year ...
Wednesday, 04 March 15
KEEP CALM AND INVEST IN DRY - THEODORE NTALAKOS
Keep Calm and Carry On was originally a motivational poster, intended to raise the morale of the British public, produced by the British government ...
Tuesday, 03 March 15
INDONESIAN COAL EXPORT VOLUME TO DECLINE 50% BY 2019
COALspot.com: The Indonesian government is planning to reduce coal export volume by 50% within the next five years while keeping its coal productio ...
Tuesday, 03 March 15
INDIAN THERMAL COAL IMPORTS: STEAMING FORWARD - CLARKSONS
Coal-fired power stations comprise around 60% of India’s power output, and with domestic supply issues and favourable international coal pric ...
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- Ceylon Electricity Board - Sri Lanka
- Thai Mozambique Logistica
- Agrawal Coal Company - India
- Madhucon Powers Ltd - India
- Standard Chartered Bank - UAE
- IHS Mccloskey Coal Group - USA
- Power Finance Corporation Ltd., India
- Directorate General of MIneral and Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mintek Dendrill Indonesia
- Tamil Nadu electricity Board
- LBH Netherlands Bv - Netherlands
- Aditya Birla Group - India
- Australian Coal Association
- Carbofer General Trading SA - India
- Kumho Petrochemical, South Korea
- Directorate Of Revenue Intelligence - India
- Kartika Selabumi Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- GAC Shipping (India) Pvt Ltd
- Wilmar Investment Holdings
- Sojitz Corporation - Japan
- Neyveli Lignite Corporation Ltd, - India
- International Coal Ventures Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Central Java Power - Indonesia
- Orica Mining Services - Indonesia
- Straits Asia Resources Limited - Singapore
- Tata Chemicals Ltd - India
- Ministry of Mines - Canada
- Intertek Mineral Services - Indonesia
- Bangladesh Power Developement Board
- Salva Resources Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Petron Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Indika Energy - Indonesia
- CIMB Investment Bank - Malaysia
- McConnell Dowell - Australia
- San Jose City I Power Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- MS Steel International - UAE
- Siam City Cement - Thailand
- Borneo Indobara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bulk Trading Sa - Switzerland
- Indogreen Group - Indonesia
- Sakthi Sugars Limited - India
- Planning Commission, India
- Leighton Contractors Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement PLC, Thailand
- Coalindo Energy - Indonesia
- Gujarat Sidhee Cement - India
- Global Business Power Corporation, Philippines
- Trasteel International SA, Italy
- Ministry of Transport, Egypt
- Asia Pacific Energy Resources Ventures Inc, Philippines
- London Commodity Brokers - England
- Holcim Trading Pte Ltd - Singapore
- Globalindo Alam Lestari - Indonesia
- Singapore Mercantile Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Generating Authority of Thailand
- Minerals Council of Australia
- Marubeni Corporation - India
- Independent Power Producers Association of India
- Riau Bara Harum - Indonesia
- CNBM International Corporation - China
- Posco Energy - South Korea
- Karaikal Port Pvt Ltd - India
- Romanian Commodities Exchange
- Iligan Light & Power Inc, Philippines
- Bhushan Steel Limited - India
- Makarim & Taira - Indonesia
- Rio Tinto Coal - Australia
- Kobexindo Tractors - Indoneisa
- Mercuria Energy - Indonesia
- Attock Cement Pakistan Limited
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Finance - Indonesia
- Dalmia Cement Bharat India
- Indian Oil Corporation Limited
- Toyota Tsusho Corporation, Japan
- Heidelberg Cement - Germany
- ASAPP Information Group - India
- Sarangani Energy Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Aboitiz Power Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Alfred C Toepfer International GmbH - Germany
- Altura Mining Limited, Indonesia
- Chettinad Cement Corporation Ltd - India
- Sical Logistics Limited - India
- Georgia Ports Authority, United States
- Kepco SPC Power Corporation, Philippines
- Bhatia International Limited - India
- Metalloyd Limited - United Kingdom
- European Bulk Services B.V. - Netherlands
- Australian Commodity Traders Exchange
- Videocon Industries ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Jorong Barutama Greston.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vizag Seaport Private Limited - India
- Sree Jayajothi Cements Limited - India
- SMC Global Power, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Coal and Oil Company - UAE
- Eastern Energy - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Therma Luzon, Inc, Philippines
- Price Waterhouse Coopers - Russia
- Ambuja Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Electricity Authority, New Zealand
- Xindia Steels Limited - India
- Cement Manufacturers Association - India
- Parliament of New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Economic Council, Georgia
- Uttam Galva Steels Limited - India
- VISA Power Limited - India
- IEA Clean Coal Centre - UK
- Larsen & Toubro Limited - India
- Commonwealth Bank - Australia
- Karbindo Abesyapradhi - Indoneisa
- Simpson Spence & Young - Indonesia
- Bharathi Cement Corporation - India
- Bukit Makmur.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Orica Australia Pty. Ltd.
- TeaM Sual Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Edison Trading Spa - Italy
- Vedanta Resources Plc - India
- Eastern Coal Council - USA
- White Energy Company Limited
- Manunggal Multi Energi - Indonesia
- New Zealand Coal & Carbon
- Kaltim Prima Coal - Indonesia
- Meralco Power Generation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Pendopo Energi Batubara - Indonesia
- Maheswari Brothers Coal Limited - India
- Cigading International Bulk Terminal - Indonesia
- Anglo American - United Kingdom
- Goldman Sachs - Singapore
- PowerSource Philippines DevCo
- Binh Thuan Hamico - Vietnam
- Coastal Gujarat Power Limited - India
- Essar Steel Hazira Ltd - India
- PNOC Exploration Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Latin American Coal - Colombia
- Maharashtra Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Mercator Lines Limited - India
- Sindya Power Generating Company Private Ltd
- Savvy Resources Ltd - HongKong
- The State Trading Corporation of India Ltd
- Jindal Steel & Power Ltd - India
- Kideco Jaya Agung - Indonesia
- SMG Consultants - Indonesia
- Medco Energi Mining Internasional
- Interocean Group of Companies - India
- Kalimantan Lumbung Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The Treasury - Australian Government
- Indo Tambangraya Megah - Indonesia
- Renaissance Capital - South Africa
- Deloitte Consulting - India
- Africa Commodities Group - South Africa
- Central Electricity Authority - India
- GVK Power & Infra Limited - India
- Meenaskhi Energy Private Limited - India
- Star Paper Mills Limited - India
- India Bulls Power Limited - India
- ICICI Bank Limited - India
- Mjunction Services Limited - India
- AsiaOL BioFuels Corp., Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Development Corp, Philippines
- GMR Energy Limited - India
- Krishnapatnam Port Company Ltd. - India
- The University of Queensland
- Merrill Lynch Commodities Europe
- Chamber of Mines of South Africa
- Thiess Contractors Indonesia
- Bayan Resources Tbk. - Indonesia
- Grasim Industreis Ltd - India
- Antam Resourcindo - Indonesia
- Malabar Cements Ltd - India
- Samtan Co., Ltd - South Korea
- OPG Power Generation Pvt Ltd - India
- Semirara Mining Corp, Philippines
- PTC India Limited - India
- Formosa Plastics Group - Taiwan
- Kohat Cement Company Ltd. - Pakistan
- Baramulti Group, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Indonesian Coal Mining Association
- Port Waratah Coal Services - Australia
- Wood Mackenzie - Singapore
- Timah Investasi Mineral - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Parry Sugars Refinery, India
- Miang Besar Coal Terminal - Indonesia
- Indian Energy Exchange, India
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