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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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Monday, 23 February 15
Q2' CFR SOUTH CHINA COAL SWAP FOR Q2 ROSE 3.39% M-O-M
COALspot.com: API 8 CFR South China Coal swap for Q2’ 2015 delivery rose US$ 1.90 (+3.39%) per MT month over month and declined US$ 0.08 ...
Monday, 23 February 15
Q2' API 5 FOB NEWCASTLE COAL SWAP CLOSED $1 HIGHER THAN Q3
COALspot.com: API 5 FOB Newcastle Coal swap for Q2’ 2015 delivery rose US$ 3.12 per MT (+6.44%) month over month and fall US$ 0.43 (-0.83%) w ...
Sunday, 22 February 15
THE BALTIC DRY INDEX LOST ALMOST 3.2% OR 17 POINTS WEEK ON WEEK
COALspot.com: The Baltic Dry Index, one of the economic indicators that monitors the health of the world's economy by tracking the price of shi ...
Friday, 20 February 15
GOVT SET TO INCREASE COAL OUTPUT TARGET THIS YEAR - JAKARTA POST
The Energy and Mineral Resources Ministry is planning to increase its coal output target this year as the government seeks to offset the ongoing de ...
Friday, 20 February 15
U.S. PRODUCED AROUND 19.2 MILLION SHORT TONS OF COAL WEEK ON WEEK
COALspot.com – United States the world's one of the largest coal producers, produced approximately 19.2 million short tons (mmst) of coal ...
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- Indonesian Coal Mining Association
- GVK Power & Infra Limited - India
- Indogreen Group - Indonesia
- Madhucon Powers Ltd - India
- Kideco Jaya Agung - Indonesia
- OPG Power Generation Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- White Energy Company Limited
- Petron Corporation, Philippines
- Indian Oil Corporation Limited
- Formosa Plastics Group - Taiwan
- Price Waterhouse Coopers - Russia
- Chamber of Mines of South Africa
- Cement Manufacturers Association - India
- Global Business Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- The Treasury - Australian Government
- SN Aboitiz Power Inc, Philippines
- Vedanta Resources Plc - India
- Star Paper Mills Limited - India
- Marubeni Corporation - India
- Borneo Indobara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Gujarat Sidhee Cement - India
- Makarim & Taira - Indonesia
- CIMB Investment Bank - Malaysia
- PowerSource Philippines DevCo
- Energy Development Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Port Waratah Coal Services - Australia
- Simpson Spence & Young - Indonesia
- Goldman Sachs - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- International Coal Ventures Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- IHS Mccloskey Coal Group - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vizag Seaport Private Limited - India
- Timah Investasi Mineral - Indoneisa
- Economic Council, Georgia
- Barasentosa Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Lanco Infratech Ltd - India
- Straits Asia Resources Limited - Singapore
- Minerals Council of Australia
- Attock Cement Pakistan Limited
- Thiess Contractors Indonesia
- Bhushan Steel Limited - India
- Ministry of Transport, Egypt
- PNOC Exploration Corporation - Philippines
- McConnell Dowell - Australia
- Tamil Nadu electricity Board
- MS Steel International - UAE
- Coal and Oil Company - UAE
- ASAPP Information Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhatia International Limited - India
- Mjunction Services Limited - India
- London Commodity Brokers - England
- Semirara Mining and Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Maheswari Brothers Coal Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Mercator Lines Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Essar Steel Hazira Ltd - India
- Commonwealth Bank - Australia
- Billiton Holdings Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Thai Mozambique Logistica
- Renaissance Capital - South Africa
- LBH Netherlands Bv - Netherlands
- Miang Besar Coal Terminal - Indonesia
- The University of Queensland
- Ambuja Cements Ltd - India
- Indika Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Manunggal Multi Energi - Indonesia
- Central Java Power - Indonesia
- Power Finance Corporation Ltd., India
- Sarangani Energy Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Siam City Cement - Thailand
- Baramulti Group, Indonesia
- Aditya Birla Group - India
- Kaltim Prima Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Bayan Resources Tbk. - Indonesia
- Altura Mining Limited, Indonesia
- Meenaskhi Energy Private Limited - India
- SMG Consultants - Indonesia
- Agrawal Coal Company - India
- Bukit Baiduri Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Intertek Mineral Services - Indonesia
- ICICI Bank Limited - India
- Electricity Generating Authority of Thailand
- Pendopo Energi Batubara - Indonesia
- Parry Sugars Refinery, India
- Meralco Power Generation, Philippines
- Singapore Mercantile Exchange
- Wood Mackenzie - Singapore
- Sical Logistics Limited - India
- Carbofer General Trading SA - India
- New Zealand Coal & Carbon
- Binh Thuan Hamico - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Karaikal Port Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- VISA Power Limited - India
- Latin American Coal - Colombia
- Deloitte Consulting - India
- Independent Power Producers Association of India
- Indian Energy Exchange, India
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Authority, New Zealand
- Globalindo Alam Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Central Electricity Authority - India
- Banpu Public Company Limited - Thailand
- Chettinad Cement Corporation Ltd - India
- Coastal Gujarat Power Limited - India
- Kobexindo Tractors - Indoneisa
- Bulk Trading Sa - Switzerland
- Indo Tambangraya Megah - Indonesia
- Planning Commission, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Coal Association
- Medco Energi Mining Internasional
- Romanian Commodities Exchange
- Sindya Power Generating Company Private Ltd
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement PLC, Thailand
- Bhoruka Overseas - Indonesia
- Sojitz Corporation - Japan
- South Luzon Thermal Energy Corporation
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Link Ltd, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Toyota Tsusho Corporation, Japan
- Coalindo Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Kartika Selabumi Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Merrill Lynch Commodities Europe
- India Bulls Power Limited - India
- IEA Clean Coal Centre - UK
- SMC Global Power, Philippines
- Trasteel International SA, Italy
- Mercuria Energy - Indonesia
- Tata Chemicals Ltd - India
- Anglo American - United Kingdom
- Semirara Mining Corp, Philippines
- Dalmia Cement Bharat India
- Interocean Group of Companies - India
- Riau Bara Harum - Indonesia
- Aboitiz Power Corporation - Philippines
- Rio Tinto Coal - Australia
- Posco Energy - South Korea
- Videocon Industries ltd - India
- Australian Commodity Traders Exchange
- PetroVietnam Power Coal Import and Supply Company
- GMR Energy Limited - India
- Samtan Co., Ltd - South Korea
- Standard Chartered Bank - UAE
- Asmin Koalindo Tuhup - Indonesia
- Holcim Trading Pte Ltd - Singapore
- CNBM International Corporation - China
- Parliament of New Zealand
- Edison Trading Spa - Italy
- Ceylon Electricity Board - Sri Lanka
- PTC India Limited - India
- Wilmar Investment Holdings
- Malabar Cements Ltd - India
- Ministry of Finance - Indonesia
- Sakthi Sugars Limited - India
- Heidelberg Cement - Germany
- Salva Resources Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Bangladesh Power Developement Board
- San Jose City I Power Corp, Philippines
- Ministry of Mines - Canada
- Bharathi Cement Corporation - India
- Eastern Energy - Thailand
- Eastern Coal Council - USA
- Iligan Light & Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- Africa Commodities Group - South Africa
- Metalloyd Limited - United Kingdom
- Kumho Petrochemical, South Korea
- Kapuas Tunggal Persada - Indonesia
- Grasim Industreis Ltd - India
- Uttam Galva Steels Limited - India
- Georgia Ports Authority, United States
- Orica Mining Services - Indonesia
- Oldendorff Carriers - Singapore
- Mintek Dendrill Indonesia
- GAC Shipping (India) Pvt Ltd
- Xindia Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- Larsen & Toubro Limited - India
- The State Trading Corporation of India Ltd
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