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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, 01 March 15
BDI INDEX SLIGHTLY UP CAUSED AN INCREASE IN THE PANAMAX, SUPARAMAX AND HANDY SIZE INDICES
COALspot.com: The freight market saw some gains this week and BDI was up 5.26 pct closed at 540 points. However the Cape index failed to follow BDI ...
Friday, 27 February 15
WEEKLY US COAL PRODUCTION DOWN AN ESTIMATED 14.0% FROM LAST WEEK - EIA
COALspot.com – United States the world's one of the largest coal producers, produced approximately 16.5 million short tons (mmst) of coal ...
Thursday, 26 February 15
DRY BULK MARKET COULD REBOUND FROM HISTORICAL LOWS IN THE COMING WEEKS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market could exit from its historical lows in the coming weeks, as Chinese buyers reenter the market after the holiday celebrations. T ...
Thursday, 26 February 15
COAL POLICY RISK: HIGHER ROYALTIES FOR IUP HOLDERS - BAHANA SECURITIES | JAKARTA POST
The Energy and Mineral Resources Ministry plans to raise coal royalties charged to mining operation permit (IUP) holders by the end of the first qu ...
Thursday, 26 February 15
DRY BULK MARKET LOOKING FOR POSITIVE MOMENTUM, BUT PROSPECTS REMAIN DIM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
As the Baltic Dry Index (BDI) inched a bit higher over the past couple of sessions and the Chinese are returning to the market after a week long hi ...
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- Coalindo Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Straits Asia Resources Limited - Singapore
- Romanian Commodities Exchange
- London Commodity Brokers - England
- Essar Steel Hazira Ltd - India
- Indika Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Gujarat Sidhee Cement - India
- Sakthi Sugars Limited - India
- Mercuria Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Australian Coal Association
- Xindia Steels Limited - India
- Bharathi Cement Corporation - India
- Standard Chartered Bank - UAE
- Timah Investasi Mineral - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Commonwealth Bank - Australia
- Riau Bara Harum - Indonesia
- Indo Tambangraya Megah - Indonesia
- CIMB Investment Bank - Malaysia
- Lanco Infratech Ltd - India
- Ambuja Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Deloitte Consulting - India
- The University of Queensland
- McConnell Dowell - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Indian Energy Exchange, India
- Kapuas Tunggal Persada - Indonesia
- PTC India Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meenaskhi Energy Private Limited - India
- Chettinad Cement Corporation Ltd - India
- Samtan Co., Ltd - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Indonesian Coal Mining Association
- LBH Netherlands Bv - Netherlands
- Australian Commodity Traders Exchange
- Trasteel International SA, Italy
- Energy Development Corp, Philippines
- Renaissance Capital - South Africa
- Kalimantan Lumbung Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Parliament of New Zealand
- PowerSource Philippines DevCo
- Madhucon Powers Ltd - India
- Attock Cement Pakistan Limited
- CNBM International Corporation - China
- TNB Fuel Sdn Bhd - Malaysia
- Anglo American - United Kingdom
- Metalloyd Limited - United Kingdom
- Toyota Tsusho Corporation, Japan
- Electricity Authority, New Zealand
- Medco Energi Mining Internasional
- Altura Mining Limited, Indonesia
- Ministry of Mines - Canada
- Larsen & Toubro Limited - India
- IEA Clean Coal Centre - UK
- Chamber of Mines of South Africa
- Aditya Birla Group - India
- Karbindo Abesyapradhi - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Jaiprakash Power Ventures ltd
- Kepco SPC Power Corporation, Philippines
- Mintek Dendrill Indonesia
- ASAPP Information Group - India
- Barasentosa Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Carbofer General Trading SA - India
- Bukit Makmur.PT - Indonesia
- Merrill Lynch Commodities Europe
- Bhatia International Limited - India
- European Bulk Services B.V. - Netherlands
- VISA Power Limited - India
- Coastal Gujarat Power Limited - India
- Indian Oil Corporation Limited
- Ind-Barath Power Infra Limited - India
- Formosa Plastics Group - Taiwan
- Therma Luzon, Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Electricity Generating Authority of Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Malabar Cements Ltd - India
- SMG Consultants - Indonesia
- Jindal Steel & Power Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Coal and Oil Company - UAE
- Central Java Power - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Aboitiz Power Corporation - Philippines
- Semirara Mining Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Kobexindo Tractors - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Salva Resources Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Videocon Industries ltd - India
- Wilmar Investment Holdings
- Latin American Coal - Colombia
- Parry Sugars Refinery, India
- Global Business Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Intertek Mineral Services - Indonesia
- Savvy Resources Ltd - HongKong
- Posco Energy - South Korea
- Grasim Industreis Ltd - India
- Central Electricity Authority - India
- Ministry of Finance - Indonesia
- South Luzon Thermal Energy Corporation
- SMC Global Power, Philippines
- New Zealand Coal & Carbon
- Vizag Seaport Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- ICICI Bank Limited - India
- Bangladesh Power Developement Board
- Price Waterhouse Coopers - Russia
- Sindya Power Generating Company Private Ltd
- Agrawal Coal Company - India
- Eastern Coal Council - USA
- Dalmia Cement Bharat India
- India Bulls Power Limited - India
- Kideco Jaya Agung - Indonesia
- Edison Trading Spa - Italy
- PetroVietnam Power Coal Import and Supply Company
- Meralco Power Generation, Philippines
- Borneo Indobara - Indonesia
- Siam City Cement - Thailand
- Goldman Sachs - Singapore
- Billiton Holdings Pty Ltd - Australia
- Petron Corporation, Philippines
- Energy Link Ltd, New Zealand
- Bhoruka Overseas - Indonesia
- White Energy Company Limited
- Iligan Light & Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Banpu Public Company Limited - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- MS Steel International - UAE
- Neyveli Lignite Corporation Ltd, - India
- Minerals Council of Australia
- Kumho Petrochemical, South Korea
- Directorate General of MIneral and Coal - Indonesia
- Eastern Energy - Thailand
- Ministry of Transport, Egypt
- Siam City Cement PLC, Thailand
- Kartika Selabumi Mining - Indonesia
- Power Finance Corporation Ltd., India
- Pendopo Energi Batubara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thai Mozambique Logistica
- Gujarat Mineral Development Corp Ltd - India
- GVK Power & Infra Limited - India
- Tamil Nadu electricity Board
- Thiess Contractors Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Georgia Ports Authority, United States
- Krishnapatnam Port Company Ltd. - India
- Global Coal Blending Company Limited - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Rio Tinto Coal - Australia
- Marubeni Corporation - India
- International Coal Ventures Pvt Ltd - India
- Port Waratah Coal Services - Australia
- TeaM Sual Corporation - Philippines
- Heidelberg Cement - Germany
- The State Trading Corporation of India Ltd
- Singapore Mercantile Exchange
- Star Paper Mills Limited - India
- The Treasury - Australian Government
- Sojitz Corporation - Japan
- Cement Manufacturers Association - India
- Independent Power Producers Association of India
- Mjunction Services Limited - India
- Planning Commission, India
- Bayan Resources Tbk. - Indonesia
- San Jose City I Power Corp, Philippines
- Orica Mining Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Africa Commodities Group - South Africa
- Bulk Trading Sa - Switzerland
- Orica Australia Pty. Ltd.
- GAC Shipping (India) Pvt Ltd
- Oldendorff Carriers - Singapore
- OPG Power Generation Pvt Ltd - India
- Bhushan Steel Limited - India
- Economic Council, Georgia
- Wood Mackenzie - Singapore
- Tata Chemicals Ltd - India
- Directorate Of Revenue Intelligence - India
- Antam Resourcindo - Indonesia
- Vedanta Resources Plc - India
- Indogreen Group - Indonesia
- Sical Logistics Limited - India
- GMR Energy Limited - India
- Karaikal Port Pvt Ltd - India
- Interocean Group of Companies - India
- Kaltim Prima Coal - Indonesia
- Baramulti Group, Indonesia
- Mercator Lines Limited - India
- Maheswari Brothers Coal Limited - India
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