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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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Saturday, 14 February 15
SHALE GAS AND TIGHT OIL ARE COMMERCIALLY PRODUCED IN JUST FOUR COUNTRIES - EIA
KNOWLEDGE TO ELEVATE
The United States, Canada, China, and Argentina are currently the only four countries in the world that are producing com ...
Friday, 13 February 15
U.S. WEEKLY COAL PRODUCTION SHOWS 10% DECLINE
COALspot.com – United States the world's one of the largest coal producers, produced approximately 18.1 million short tons (mmst) of coal ...
Friday, 13 February 15
SMALL AND MEDIUM-SIZED SHIP OWNERS SQUEEZED OUT OF THE MARKET ON CRASHING DRY BULK MARKET AND EUROZONE CRISIS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Financing issues have started to tighten the noose in the throats of small and medium-size ship owners, who were already facing problems over the p ...
Thursday, 12 February 15
CAPESIZE: THE BEST DESCRIPTION FOR THE MARKET IS, FLAT - FEARNRESEARCH
Handy
The handy and supra market is also being affected by the marginal volume of activity in the commodity sales. We see a small upturn in the T ...
Thursday, 12 February 15
DRY BULK OWNERS SCRAP MORE VESSELS, AS MARKET REACHES HISTORICAL LOWS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has reached historical lows this week, with the Baltic Dry Index (BDI) now trading at levels below operating expense levels for ...
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- Kalimantan Lumbung Energi - Indonesia
- Central Electricity Authority - India
- Asmin Koalindo Tuhup - Indonesia
- SN Aboitiz Power Inc, Philippines
- Interocean Group of Companies - India
- Kaltim Prima Coal - Indonesia
- SMC Global Power, Philippines
- LBH Netherlands Bv - Netherlands
- Petron Corporation, Philippines
- PTC India Limited - India
- Billiton Holdings Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Bhushan Steel Limited - India
- Riau Bara Harum - Indonesia
- Aboitiz Power Corporation - Philippines
- VISA Power Limited - India
- Bangladesh Power Developement Board
- Straits Asia Resources Limited - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Kepco SPC Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Orica Mining Services - Indonesia
- Global Business Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Lanco Infratech Ltd - India
- CIMB Investment Bank - Malaysia
- International Coal Ventures Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Gujarat Sidhee Cement - India
- Uttam Galva Steels Limited - India
- Coalindo Energy - Indonesia
- Vizag Seaport Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Energy Development Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Grasim Industreis Ltd - India
- Intertek Mineral Services - Indonesia
- Renaissance Capital - South Africa
- Coastal Gujarat Power Limited - India
- Mercuria Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Orica Australia Pty. Ltd.
- Rashtriya Ispat Nigam Limited - India
- Krishnapatnam Port Company Ltd. - India
- Altura Mining Limited, Indonesia
- Tamil Nadu electricity Board
- IEA Clean Coal Centre - UK
- Agrawal Coal Company - India
- Formosa Plastics Group - Taiwan
- Indogreen Group - Indonesia
- GAC Shipping (India) Pvt Ltd
- Eastern Coal Council - USA
- Electricity Generating Authority of Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Wood Mackenzie - Singapore
- The State Trading Corporation of India Ltd
- Tata Chemicals Ltd - India
- Larsen & Toubro Limited - India
- Oldendorff Carriers - Singapore
- Semirara Mining and Power Corporation, Philippines
- PowerSource Philippines DevCo
- Edison Trading Spa - Italy
- Aditya Birla Group - India
- Thiess Contractors Indonesia
- Salva Resources Pvt Ltd - India
- Ambuja Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Toyota Tsusho Corporation, Japan
- Attock Cement Pakistan Limited
- GMR Energy Limited - India
- PNOC Exploration Corporation - Philippines
- Sojitz Corporation - Japan
- Kohat Cement Company Ltd. - Pakistan
- Goldman Sachs - Singapore
- Carbofer General Trading SA - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Leighton Contractors Pty Ltd - Australia
- White Energy Company Limited
- Cement Manufacturers Association - India
- Metalloyd Limited - United Kingdom
- Australian Coal Association
- Videocon Industries ltd - India
- Cigading International Bulk Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Samtan Co., Ltd - South Korea
- Gujarat Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Singapore Mercantile Exchange
- Global Coal Blending Company Limited - Australia
- Chamber of Mines of South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Commodity Traders Exchange
- Bhatia International Limited - India
- ICICI Bank Limited - India
- Directorate Of Revenue Intelligence - India
- Global Green Power PLC Corporation, Philippines
- Indian Energy Exchange, India
- Central Java Power - Indonesia
- Coal and Oil Company - UAE
- Parliament of New Zealand
- India Bulls Power Limited - India
- Manunggal Multi Energi - Indonesia
- Kumho Petrochemical, South Korea
- CNBM International Corporation - China
- Sakthi Sugars Limited - India
- Ministry of Finance - Indonesia
- Sree Jayajothi Cements Limited - India
- McConnell Dowell - Australia
- Bharathi Cement Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Baramulti Group, Indonesia
- Makarim & Taira - Indonesia
- Star Paper Mills Limited - India
- Heidelberg Cement - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Banpu Public Company Limited - Thailand
- The University of Queensland
- Globalindo Alam Lestari - Indonesia
- Indonesian Coal Mining Association
- Medco Energi Mining Internasional
- Marubeni Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Electricity Authority, New Zealand
- Indian Oil Corporation Limited
- Romanian Commodities Exchange
- Chettinad Cement Corporation Ltd - India
- New Zealand Coal & Carbon
- Bayan Resources Tbk. - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Africa Commodities Group - South Africa
- Sical Logistics Limited - India
- Karaikal Port Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Price Waterhouse Coopers - Russia
- San Jose City I Power Corp, Philippines
- Dalmia Cement Bharat India
- Bulk Trading Sa - Switzerland
- Jorong Barutama Greston.PT - Indonesia
- Barasentosa Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Timah Investasi Mineral - Indoneisa
- Thai Mozambique Logistica
- Meralco Power Generation, Philippines
- Bhoruka Overseas - Indonesia
- Deloitte Consulting - India
- Trasteel International SA, Italy
- Planning Commission, India
- London Commodity Brokers - England
- Karbindo Abesyapradhi - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Maharashtra Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Savvy Resources Ltd - HongKong
- Port Waratah Coal Services - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mjunction Services Limited - India
- Semirara Mining Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Simpson Spence & Young - Indonesia
- South Luzon Thermal Energy Corporation
- Rio Tinto Coal - Australia
- Sindya Power Generating Company Private Ltd
- Xindia Steels Limited - India
- Borneo Indobara - Indonesia
- Parry Sugars Refinery, India
- Siam City Cement - Thailand
- Ceylon Electricity Board - Sri Lanka
- Latin American Coal - Colombia
- Wilmar Investment Holdings
- Sinarmas Energy and Mining - Indonesia
- Madhucon Powers Ltd - India
- Power Finance Corporation Ltd., India
- Mintek Dendrill Indonesia
- Minerals Council of Australia
- Indika Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Therma Luzon, Inc, Philippines
- Ministry of Transport, Egypt
- Commonwealth Bank - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Independent Power Producers Association of India
- Sarangani Energy Corporation, Philippines
- Posco Energy - South Korea
- Iligan Light & Power Inc, Philippines
- Malabar Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Standard Chartered Bank - UAE
- Anglo American - United Kingdom
- Merrill Lynch Commodities Europe
- Siam City Cement PLC, Thailand
- SMG Consultants - Indonesia
- Maheswari Brothers Coal Limited - India
- Vedanta Resources Plc - India
- Meenaskhi Energy Private Limited - India
- Jaiprakash Power Ventures ltd
- MS Steel International - UAE
- Holcim Trading Pte Ltd - Singapore
- Bukit Baiduri Energy - Indonesia
- Georgia Ports Authority, United States
- The Treasury - Australian Government
- TeaM Sual Corporation - Philippines
- ASAPP Information Group - India
- Mercator Lines Limited - India
- Economic Council, Georgia
- Ministry of Mines - Canada
- Pendopo Energi Batubara - Indonesia
- Bukit Makmur.PT - Indonesia
- Jindal Steel & Power Ltd - India
- OPG Power Generation Pvt Ltd - India
- Eastern Energy - Thailand
- Energy Link Ltd, New Zealand
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