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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, 17 February 15
Q2' FOB RICHARDS BAY COAL SWAP CLOSED AT $63.45; $ 1.85 HIGHER COMPARED TO Q4 CLOSING
COALspot.com: API 4 FOB Richards Bay Coal swap for delivery Q2' 2015 surge month over month, week on week and day on day.
The Q2 swap has ...
Monday, 16 February 15
COAL MINING SLUMP A BLESSING IN DISGUISE - THE JAKARTA POST
The growth of the coal-mining industry, which has diminished in the last two years, is expected to slump even further this year following weakening ...
Monday, 16 February 15
FOB NEWCASTLE COAL SWAPS SURGE WEEK ON WEEK
COALspot.com: API 5 FOB Newcastle Coal swap for Q2’ 2015 delivery rose US$ 1.31 per MT (+2.59%) week over week and US$ 4.35 (+9.13%) month on ...
Monday, 16 February 15
Q2' 15 - CFR SOUTH CHINA COAL SWAP ROSE 5.22% M-O-M
COALspot.com: API 8 CFR South China Coal swap for Q2’ 2015 delivery rose US$ 2.88 (+5.22%) per MT month over month and US$ 1.08 (+1.90% ...
Sunday, 15 February 15
BALTIC DRY INDEX CONTINUALLY DIPPED IN RED
COALspot.com: The Baltic Dry Index continues its decline and fell 5.18 pct to 530 points week on week due to falling commodity prices and declining ...
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- Holcim Trading Pte Ltd - Singapore
- Eastern Coal Council - USA
- PetroVietnam Power Coal Import and Supply Company
- European Bulk Services B.V. - Netherlands
- CIMB Investment Bank - Malaysia
- OPG Power Generation Pvt Ltd - India
- Bhushan Steel Limited - India
- Mintek Dendrill Indonesia
- Simpson Spence & Young - Indonesia
- Energy Development Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Ind-Barath Power Infra Limited - India
- Indian Oil Corporation Limited
- Minerals Council of Australia
- Karbindo Abesyapradhi - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Electricity Generating Authority of Thailand
- Kumho Petrochemical, South Korea
- Riau Bara Harum - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Port Waratah Coal Services - Australia
- Indika Energy - Indonesia
- Malabar Cements Ltd - India
- Bangladesh Power Developement Board
- Mercator Lines Limited - India
- McConnell Dowell - Australia
- Bayan Resources Tbk. - Indonesia
- Borneo Indobara - Indonesia
- The Treasury - Australian Government
- Medco Energi Mining Internasional
- Wilmar Investment Holdings
- Bahari Cakrawala Sebuku - Indonesia
- Savvy Resources Ltd - HongKong
- Economic Council, Georgia
- Banpu Public Company Limited - Thailand
- Trasteel International SA, Italy
- Goldman Sachs - Singapore
- IHS Mccloskey Coal Group - USA
- Indo Tambangraya Megah - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Mercuria Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Heidelberg Cement - Germany
- Ministry of Mines - Canada
- Billiton Holdings Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Posco Energy - South Korea
- VISA Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Renaissance Capital - South Africa
- Oldendorff Carriers - Singapore
- The State Trading Corporation of India Ltd
- The University of Queensland
- GVK Power & Infra Limited - India
- Power Finance Corporation Ltd., India
- Orica Mining Services - Indonesia
- Star Paper Mills Limited - India
- Aboitiz Power Corporation - Philippines
- Coalindo Energy - Indonesia
- Eastern Energy - Thailand
- Tamil Nadu electricity Board
- Australian Coal Association
- Planning Commission, India
- Makarim & Taira - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Africa Commodities Group - South Africa
- Timah Investasi Mineral - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Sical Logistics Limited - India
- Deloitte Consulting - India
- Sakthi Sugars Limited - India
- MS Steel International - UAE
- Bukit Baiduri Energy - Indonesia
- IEA Clean Coal Centre - UK
- Anglo American - United Kingdom
- Barasentosa Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Mjunction Services Limited - India
- London Commodity Brokers - England
- Parliament of New Zealand
- CNBM International Corporation - China
- Ambuja Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Global Green Power PLC Corporation, Philippines
- Ministry of Finance - Indonesia
- Therma Luzon, Inc, Philippines
- TeaM Sual Corporation - Philippines
- Madhucon Powers Ltd - India
- ASAPP Information Group - India
- Jorong Barutama Greston.PT - Indonesia
- SMG Consultants - Indonesia
- Kaltim Prima Coal - Indonesia
- Jaiprakash Power Ventures ltd
- Interocean Group of Companies - India
- Wood Mackenzie - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kideco Jaya Agung - Indonesia
- Siam City Cement - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Attock Cement Pakistan Limited
- Bhoruka Overseas - Indonesia
- Alfred C Toepfer International GmbH - Germany
- SN Aboitiz Power Inc, Philippines
- Tata Chemicals Ltd - India
- Straits Asia Resources Limited - Singapore
- Merrill Lynch Commodities Europe
- Karaikal Port Pvt Ltd - India
- Videocon Industries ltd - India
- Chamber of Mines of South Africa
- Global Business Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Lanco Infratech Ltd - India
- Aditya Birla Group - India
- Binh Thuan Hamico - Vietnam
- Bulk Trading Sa - Switzerland
- Australian Commodity Traders Exchange
- New Zealand Coal & Carbon
- Toyota Tsusho Corporation, Japan
- Carbofer General Trading SA - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Manunggal Multi Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- GMR Energy Limited - India
- Gujarat Sidhee Cement - India
- Neyveli Lignite Corporation Ltd, - India
- Electricity Authority, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement PLC, Thailand
- Cement Manufacturers Association - India
- Maharashtra Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- PTC India Limited - India
- Kobexindo Tractors - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Transport, Egypt
- LBH Netherlands Bv - Netherlands
- Orica Australia Pty. Ltd.
- SMC Global Power, Philippines
- Antam Resourcindo - Indonesia
- Kepco SPC Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- PowerSource Philippines DevCo
- Coal and Oil Company - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Altura Mining Limited, Indonesia
- Intertek Mineral Services - Indonesia
- San Jose City I Power Corp, Philippines
- Dalmia Cement Bharat India
- Bukit Makmur.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meenaskhi Energy Private Limited - India
- Uttam Galva Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Romanian Commodities Exchange
- Vedanta Resources Plc - India
- Bharathi Cement Corporation - India
- Bhatia International Limited - India
- Sindya Power Generating Company Private Ltd
- White Energy Company Limited
- Global Coal Blending Company Limited - Australia
- Energy Link Ltd, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Thai Mozambique Logistica
- AsiaOL BioFuels Corp., Philippines
- Xindia Steels Limited - India
- Thiess Contractors Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Price Waterhouse Coopers - Russia
- Independent Power Producers Association of India
- Larsen & Toubro Limited - India
- Grasim Industreis Ltd - India
- Sarangani Energy Corporation, Philippines
- India Bulls Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Agrawal Coal Company - India
- Indogreen Group - Indonesia
- Commonwealth Bank - Australia
- Metalloyd Limited - United Kingdom
- GAC Shipping (India) Pvt Ltd
- Baramulti Group, Indonesia
- Samtan Co., Ltd - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petron Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Sojitz Corporation - Japan
- Coastal Gujarat Power Limited - India
- Georgia Ports Authority, United States
- Sree Jayajothi Cements Limited - India
- Asmin Koalindo Tuhup - Indonesia
- PNOC Exploration Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Indian Energy Exchange, India
- Chettinad Cement Corporation Ltd - India
- Parry Sugars Refinery, India
- Globalindo Alam Lestari - Indonesia
- Indonesian Coal Mining Association
- Central Electricity Authority - India
- Rio Tinto Coal - Australia
- South Luzon Thermal Energy Corporation
- Edison Trading Spa - Italy
- Kartika Selabumi Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Latin American Coal - Colombia
- Singapore Mercantile Exchange
- ICICI Bank Limited - India
- Directorate Of Revenue Intelligence - India
- Central Java Power - Indonesia
- Formosa Plastics Group - Taiwan
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