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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, 03 March 15
Q4' FOB INDONESIA COAL SWAP CLOSED 2% LOWER COMPARED TO Q2 CLOSING PRICE OF $ 47.47
COALspot.com: Indonesian coal swaps for delivery Q2' 2015 rose month on month and declined week over week.
The Q2 swap increased US$ 2.24 ...
Tuesday, 03 March 15
FOB RICHARDS BAY COAL SWAPS: Q2 UP 9.60%; Q3 UP 9.75% W-O-W
COALspot.com: API 4 FOB Richards Bay Coal swap for delivery Q2' 2015 surge month over month and week on week.
The Q2 swap has soared US$ 5 ...
Monday, 02 March 15
CFR SOUTH CHINA COAL SWAP FOR Q2 DELIVERY REACHED $ 57.50 PMT W/E 27 FEB 2015
COALspot.com: API 8 CFR South China Coal swap for Q2’ 2015 delivery rose US$ 1.37 (+2.44%) per MT month over month and declined US$ 0.42 ...
Monday, 02 March 15
BORYEONG POWER PLANT OF KOMIPO TO IMPORT 140K OF SUB-BITUMINOUS COAL FOR Q2
COALspot.com - Korea Midland Power Co. Ltd. (KOMIPO) is inviting bids from coal producers, marketing companies, or traders to supply of 140,000 (70 ...
Monday, 02 March 15
FOB NEWCASTLE COAL SWAP ROSE 6.89% MONTH OVER MONTH
COALspot.com: API 5 FOB Newcastle Coal swap for Q2’ 2015 delivery rose US$ 3.35 per MT (+6.89%) month over month and US$ 0.40 (0.78%) week on ...
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- Marubeni Corporation - India
- Eastern Energy - Thailand
- Latin American Coal - Colombia
- OPG Power Generation Pvt Ltd - India
- Eastern Coal Council - USA
- Antam Resourcindo - Indonesia
- Energy Development Corp, Philippines
- Attock Cement Pakistan Limited
- Tamil Nadu electricity Board
- Indonesian Coal Mining Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- MS Steel International - UAE
- Indika Energy - Indonesia
- The State Trading Corporation of India Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Business Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Altura Mining Limited, Indonesia
- Indogreen Group - Indonesia
- Indo Tambangraya Megah - Indonesia
- Formosa Plastics Group - Taiwan
- Madhucon Powers Ltd - India
- Price Waterhouse Coopers - Russia
- The Treasury - Australian Government
- CNBM International Corporation - China
- Asmin Koalindo Tuhup - Indonesia
- VISA Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Wood Mackenzie - Singapore
- Sindya Power Generating Company Private Ltd
- Global Coal Blending Company Limited - Australia
- Vedanta Resources Plc - India
- Mjunction Services Limited - India
- Global Green Power PLC Corporation, Philippines
- Carbofer General Trading SA - India
- Merrill Lynch Commodities Europe
- Krishnapatnam Port Company Ltd. - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The University of Queensland
- Singapore Mercantile Exchange
- Kepco SPC Power Corporation, Philippines
- India Bulls Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aditya Birla Group - India
- Kideco Jaya Agung - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercator Lines Limited - India
- Riau Bara Harum - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Baramulti Group, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Commonwealth Bank - Australia
- Manunggal Multi Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Central Java Power - Indonesia
- Australian Coal Association
- Alfred C Toepfer International GmbH - Germany
- AsiaOL BioFuels Corp., Philippines
- Ministry of Transport, Egypt
- Sojitz Corporation - Japan
- Gujarat Sidhee Cement - India
- Economic Council, Georgia
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- IEA Clean Coal Centre - UK
- Rio Tinto Coal - Australia
- Kapuas Tunggal Persada - Indonesia
- White Energy Company Limited
- Banpu Public Company Limited - Thailand
- PowerSource Philippines DevCo
- Rashtriya Ispat Nigam Limited - India
- Jindal Steel & Power Ltd - India
- PTC India Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Billiton Holdings Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Ministry of Finance - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Ind-Barath Power Infra Limited - India
- Uttam Galva Steels Limited - India
- Siam City Cement - Thailand
- Ceylon Electricity Board - Sri Lanka
- Mercuria Energy - Indonesia
- Power Finance Corporation Ltd., India
- Bangladesh Power Developement Board
- Directorate Of Revenue Intelligence - India
- Mintek Dendrill Indonesia
- Aboitiz Power Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Authority, New Zealand
- Bharathi Cement Corporation - India
- Indian Oil Corporation Limited
- Xindia Steels Limited - India
- South Luzon Thermal Energy Corporation
- Savvy Resources Ltd - HongKong
- Africa Commodities Group - South Africa
- Parry Sugars Refinery, India
- Coalindo Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- Independent Power Producers Association of India
- Globalindo Alam Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Bhoruka Overseas - Indonesia
- Georgia Ports Authority, United States
- Simpson Spence & Young - Indonesia
- SMC Global Power, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- Sical Logistics Limited - India
- Dalmia Cement Bharat India
- Vizag Seaport Private Limited - India
- Intertek Mineral Services - Indonesia
- Standard Chartered Bank - UAE
- Neyveli Lignite Corporation Ltd, - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meralco Power Generation, Philippines
- Orica Mining Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Bhatia International Limited - India
- Holcim Trading Pte Ltd - Singapore
- Central Electricity Authority - India
- SN Aboitiz Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Planning Commission, India
- Gujarat Mineral Development Corp Ltd - India
- Anglo American - United Kingdom
- Romanian Commodities Exchange
- GN Power Mariveles Coal Plant, Philippines
- International Coal Ventures Pvt Ltd - India
- Goldman Sachs - Singapore
- PNOC Exploration Corporation - Philippines
- Agrawal Coal Company - India
- Directorate General of MIneral and Coal - Indonesia
- Orica Australia Pty. Ltd.
- Ambuja Cements Ltd - India
- Larsen & Toubro Limited - India
- Medco Energi Mining Internasional
- GMR Energy Limited - India
- European Bulk Services B.V. - Netherlands
- San Jose City I Power Corp, Philippines
- Semirara Mining Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Straits Asia Resources Limited - Singapore
- Binh Thuan Hamico - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- Renaissance Capital - South Africa
- Maheswari Brothers Coal Limited - India
- Chamber of Mines of South Africa
- Malabar Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Posco Energy - South Korea
- Trasteel International SA, Italy
- Thai Mozambique Logistica
- Petron Corporation, Philippines
- Minerals Council of Australia
- Videocon Industries ltd - India
- Makarim & Taira - Indonesia
- Borneo Indobara - Indonesia
- Barasentosa Lestari - Indonesia
- GVK Power & Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- Cigading International Bulk Terminal - Indonesia
- London Commodity Brokers - England
- Pendopo Energi Batubara - Indonesia
- ASAPP Information Group - India
- Parliament of New Zealand
- Port Waratah Coal Services - Australia
- Sakthi Sugars Limited - India
- New Zealand Coal & Carbon
- Jorong Barutama Greston.PT - Indonesia
- Wilmar Investment Holdings
- Bulk Trading Sa - Switzerland
- GAC Shipping (India) Pvt Ltd
- Australian Commodity Traders Exchange
- Bhushan Steel Limited - India
- Deloitte Consulting - India
- Kobexindo Tractors - Indoneisa
- Ministry of Mines - Canada
- Miang Besar Coal Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- McConnell Dowell - Australia
- Siam City Cement PLC, Thailand
- Karaikal Port Pvt Ltd - India
- ICICI Bank Limited - India
- Star Paper Mills Limited - India
- Lanco Infratech Ltd - India
- Grasim Industreis Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Jaiprakash Power Ventures ltd
- Leighton Contractors Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- Energy Link Ltd, New Zealand
- Tata Chemicals Ltd - India
- Bukit Makmur.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Cement Manufacturers Association - India
- Coal and Oil Company - UAE
- Kartika Selabumi Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Baiduri Energy - Indonesia
- Edison Trading Spa - Italy
- Bahari Cakrawala Sebuku - Indonesia
- SMG Consultants - Indonesia
- Therma Luzon, Inc, Philippines
- Electricity Generating Authority of Thailand
- Salva Resources Pvt Ltd - India
- Heidelberg Cement - Germany
- Sarangani Energy Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Indian Energy Exchange, India
- Thiess Contractors Indonesia
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