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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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Wednesday, 25 February 15
PORT OF NEWCASTLE SHIPPED 13.16MT OF COAL IN JANUARY; DECLINED 16.70% FROM A MONTH AGO
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port, has shipped $1.15 billio ...
Wednesday, 25 February 15
BDI SLIPPING ONCE MORE TO FRESH HISTORICAL LOWS
COALspot.com: With the BDI slipping once more to fresh historical lows and the Chinese holidays underway, signs for a positive reversal in the Dry ...
Tuesday, 24 February 15
FOB INDONESIA COAL SWAP SET TO RALLY
COALspot.com: Indonesian coal swaps for delivery Q2' 2015 rose week over week and month on month.
The Q2 swap increased US$ 3.30 (+7.30%) ...
Tuesday, 24 February 15
Q3' FOB RICHARDS BAY COAL SWAP CLOSED $59.80 W/E 20 FEB
COALspot.com: API 4 FOB Richards Bay Coal swap for delivery Q2' 2015 surge month over month and decline week on week.
The Q2 swap has soar ...
Tuesday, 24 February 15
IHS ENERGY COAL CONFERENCE OF THE AMERICAS
Attend the IHS Energy Coal Conference of the Americas 17-19 March in Cartagena, Colombia and learn about timely concerns in today's coal indust ...
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- GMR Energy Limited - India
- The State Trading Corporation of India Ltd
- Latin American Coal - Colombia
- Australian Commodity Traders Exchange
- GVK Power & Infra Limited - India
- PNOC Exploration Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Commonwealth Bank - Australia
- South Luzon Thermal Energy Corporation
- Minerals Council of Australia
- Kobexindo Tractors - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Trasteel International SA, Italy
- Ministry of Mines - Canada
- Bhushan Steel Limited - India
- MS Steel International - UAE
- Simpson Spence & Young - Indonesia
- Standard Chartered Bank - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Lanco Infratech Ltd - India
- Coastal Gujarat Power Limited - India
- Ministry of Transport, Egypt
- Port Waratah Coal Services - Australia
- Central Java Power - Indonesia
- Larsen & Toubro Limited - India
- Uttam Galva Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- Heidelberg Cement - Germany
- Maheswari Brothers Coal Limited - India
- Iligan Light & Power Inc, Philippines
- Medco Energi Mining Internasional
- Essar Steel Hazira Ltd - India
- Sojitz Corporation - Japan
- Petron Corporation, Philippines
- Renaissance Capital - South Africa
- GAC Shipping (India) Pvt Ltd
- International Coal Ventures Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The University of Queensland
- Sarangani Energy Corporation, Philippines
- Thai Mozambique Logistica
- Leighton Contractors Pty Ltd - Australia
- Videocon Industries ltd - India
- Grasim Industreis Ltd - India
- Therma Luzon, Inc, Philippines
- VISA Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Cement Manufacturers Association - India
- Gujarat Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Interocean Group of Companies - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chamber of Mines of South Africa
- Rio Tinto Coal - Australia
- IEA Clean Coal Centre - UK
- Indonesian Coal Mining Association
- Bulk Trading Sa - Switzerland
- Tata Chemicals Ltd - India
- Bangladesh Power Developement Board
- Mjunction Services Limited - India
- Directorate Of Revenue Intelligence - India
- SMC Global Power, Philippines
- Wilmar Investment Holdings
- Indika Energy - Indonesia
- Parliament of New Zealand
- Metalloyd Limited - United Kingdom
- Bukit Makmur.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Singapore Mercantile Exchange
- Globalindo Alam Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coalindo Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Tamil Nadu electricity Board
- Binh Thuan Hamico - Vietnam
- LBH Netherlands Bv - Netherlands
- Semirara Mining Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Merrill Lynch Commodities Europe
- Toyota Tsusho Corporation, Japan
- Barasentosa Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- European Bulk Services B.V. - Netherlands
- Antam Resourcindo - Indonesia
- Global Coal Blending Company Limited - Australia
- Directorate General of MIneral and Coal - Indonesia
- Attock Cement Pakistan Limited
- Electricity Authority, New Zealand
- Makarim & Taira - Indonesia
- Karaikal Port Pvt Ltd - India
- Eastern Coal Council - USA
- AsiaOL BioFuels Corp., Philippines
- Meralco Power Generation, Philippines
- ICICI Bank Limited - India
- Formosa Plastics Group - Taiwan
- Ambuja Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Malabar Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Indian Oil Corporation Limited
- GN Power Mariveles Coal Plant, Philippines
- Australian Coal Association
- Chettinad Cement Corporation Ltd - India
- Planning Commission, India
- Bukit Baiduri Energy - Indonesia
- ASAPP Information Group - India
- Ministry of Finance - Indonesia
- Vizag Seaport Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Jindal Steel & Power Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- Mintek Dendrill Indonesia
- Georgia Ports Authority, United States
- Wood Mackenzie - Singapore
- Price Waterhouse Coopers - Russia
- CNBM International Corporation - China
- Borneo Indobara - Indonesia
- Siam City Cement - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Meenaskhi Energy Private Limited - India
- Parry Sugars Refinery, India
- Sical Logistics Limited - India
- Semirara Mining and Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Romanian Commodities Exchange
- Oldendorff Carriers - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Development Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Billiton Holdings Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Riau Bara Harum - Indonesia
- Agrawal Coal Company - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Xindia Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Indogreen Group - Indonesia
- Bharathi Cement Corporation - India
- Straits Asia Resources Limited - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Indian Energy Exchange, India
- Electricity Generating Authority of Thailand
- Energy Link Ltd, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Power Finance Corporation Ltd., India
- Marubeni Corporation - India
- Mercator Lines Limited - India
- Kumho Petrochemical, South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- New Zealand Coal & Carbon
- Orica Australia Pty. Ltd.
- PowerSource Philippines DevCo
- Mercuria Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Posco Energy - South Korea
- Siam City Cement PLC, Thailand
- Aboitiz Power Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Orica Mining Services - Indonesia
- Samtan Co., Ltd - South Korea
- Kaltim Prima Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Ind-Barath Power Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Madhucon Powers Ltd - India
- Timah Investasi Mineral - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Central Electricity Authority - India
- India Bulls Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Sree Jayajothi Cements Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Independent Power Producers Association of India
- Aditya Birla Group - India
- Africa Commodities Group - South Africa
- The Treasury - Australian Government
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Sidhee Cement - India
- Anglo American - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Edison Trading Spa - Italy
- Savvy Resources Ltd - HongKong
- OPG Power Generation Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Sakthi Sugars Limited - India
- Dalmia Cement Bharat India
- White Energy Company Limited
- Kapuas Tunggal Persada - Indonesia
- SMG Consultants - Indonesia
- McConnell Dowell - Australia
- Economic Council, Georgia
- San Jose City I Power Corp, Philippines
- Deloitte Consulting - India
- Alfred C Toepfer International GmbH - Germany
- Vedanta Resources Plc - India
- Sinarmas Energy and Mining - Indonesia
- Coal and Oil Company - UAE
- Kartika Selabumi Mining - Indonesia
- Altura Mining Limited, Indonesia
- Carbofer General Trading SA - India
- Thiess Contractors Indonesia
- Goldman Sachs - Singapore
- Baramulti Group, Indonesia
- PTC India Limited - India
- Star Paper Mills Limited - India
- CIMB Investment Bank - Malaysia
- Eastern Energy - Thailand
- Global Business Power Corporation, Philippines
- London Commodity Brokers - England
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