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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, 10 February 15
SUB-BIT FOB INDONESIA COAL SWAP ADVANCES 3.79% WEEK ON WEEK
COALspot.com: Indonesian coal swaps for delivery Q2' 2015 rose week over week and month on month.
The Q2 swap up US$ 0.85 (+1.81%) month o ...
Tuesday, 10 February 15
FOB NEWCASTLE COAL SWAPS SURGE WEEK OVER WEEK, RAISING HOPES?
COALspot.com: API 5 FOB Newcastle Coal swap for Q2’ 2015 delivery rose US$ 0.95 per MT (+1.91%) week over week and declined US$ 0.06 (-0.12%) ...
Monday, 09 February 15
AUSTRALIAN COAL PRODUCERS BEST POSITIONED IN OVERSUPPLIED MARKET; US MINES MOST AT RISK - WOOD MACKENZIE
In a 2015 global coal outlook report, Wood Mackenzie says that Australia and Indonesian coal suppliers will see some upside in the difficult months ...
Monday, 09 February 15
FOB RICHARDS BAY COAL SWAP GAINS 3.65% TO ONE-MONTH HIGH
COALspot.com: API 4 FOB Richards Bay Coal swap for delivery Q2' 2015 surge month over month and day on day.
The Q2 swap has soared US$ 2.1 ...
Monday, 09 February 15
Q2' CFR SOUTH CHINA COAL SWAP DECLINED 3.28% TO $ 56.92 W-O-W
COALspot.com: API 8 CFR South China Coal swap for Q2’ 2015 delivery declined US$ 1.93 (-3.28%) per MT month over month and US$ 0.10 (-0 ...
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- Trasteel International SA, Italy
- Sakthi Sugars Limited - India
- Price Waterhouse Coopers - Russia
- Global Green Power PLC Corporation, Philippines
- Australian Coal Association
- The University of Queensland
- CIMB Investment Bank - Malaysia
- Kepco SPC Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Essar Steel Hazira Ltd - India
- Uttam Galva Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mintek Dendrill Indonesia
- Leighton Contractors Pty Ltd - Australia
- Coal and Oil Company - UAE
- Ministry of Finance - Indonesia
- Parry Sugars Refinery, India
- South Luzon Thermal Energy Corporation
- Therma Luzon, Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Africa Commodities Group - South Africa
- Globalindo Alam Lestari - Indonesia
- Orica Mining Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- PTC India Limited - India
- Tamil Nadu electricity Board
- Coalindo Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Posco Energy - South Korea
- Billiton Holdings Pty Ltd - Australia
- Renaissance Capital - South Africa
- SMG Consultants - Indonesia
- Karaikal Port Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Attock Cement Pakistan Limited
- Savvy Resources Ltd - HongKong
- Borneo Indobara - Indonesia
- Semirara Mining Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indika Energy - Indonesia
- Riau Bara Harum - Indonesia
- Agrawal Coal Company - India
- Pipit Mutiara Jaya. PT, Indonesia
- Ceylon Electricity Board - Sri Lanka
- OPG Power Generation Pvt Ltd - India
- Independent Power Producers Association of India
- Alfred C Toepfer International GmbH - Germany
- Interocean Group of Companies - India
- Sical Logistics Limited - India
- Bhatia International Limited - India
- International Coal Ventures Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Medco Energi Mining Internasional
- TeaM Sual Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Vizag Seaport Private Limited - India
- IEA Clean Coal Centre - UK
- GAC Shipping (India) Pvt Ltd
- Vijayanagar Sugar Pvt Ltd - India
- VISA Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maheswari Brothers Coal Limited - India
- GVK Power & Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement PLC, Thailand
- Timah Investasi Mineral - Indoneisa
- Mercuria Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Merrill Lynch Commodities Europe
- Eastern Coal Council - USA
- Sarangani Energy Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Holcim Trading Pte Ltd - Singapore
- Xindia Steels Limited - India
- Planning Commission, India
- Wilmar Investment Holdings
- Global Coal Blending Company Limited - Australia
- Anglo American - United Kingdom
- Bhushan Steel Limited - India
- MS Steel International - UAE
- Carbofer General Trading SA - India
- SMC Global Power, Philippines
- Marubeni Corporation - India
- Parliament of New Zealand
- Iligan Light & Power Inc, Philippines
- Mercator Lines Limited - India
- White Energy Company Limited
- Aditya Birla Group - India
- Standard Chartered Bank - UAE
- Antam Resourcindo - Indonesia
- Georgia Ports Authority, United States
- Chettinad Cement Corporation Ltd - India
- Jaiprakash Power Ventures ltd
- The Treasury - Australian Government
- Aboitiz Power Corporation - Philippines
- Indonesian Coal Mining Association
- Mjunction Services Limited - India
- Central Java Power - Indonesia
- Altura Mining Limited, Indonesia
- Ministry of Mines - Canada
- Electricity Generating Authority of Thailand
- Grasim Industreis Ltd - India
- Kumho Petrochemical, South Korea
- Bukit Makmur.PT - Indonesia
- Indogreen Group - Indonesia
- New Zealand Coal & Carbon
- Bharathi Cement Corporation - India
- Salva Resources Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Dalmia Cement Bharat India
- Samtan Co., Ltd - South Korea
- Energy Link Ltd, New Zealand
- Madhucon Powers Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Economic Council, Georgia
- ASAPP Information Group - India
- Meenaskhi Energy Private Limited - India
- Pendopo Energi Batubara - Indonesia
- Minerals Council of Australia
- GN Power Mariveles Coal Plant, Philippines
- Tata Chemicals Ltd - India
- Coastal Gujarat Power Limited - India
- Rio Tinto Coal - Australia
- Eastern Energy - Thailand
- Thiess Contractors Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- McConnell Dowell - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Malabar Cements Ltd - India
- Thai Mozambique Logistica
- Bhoruka Overseas - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Maharashtra Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Metalloyd Limited - United Kingdom
- Romanian Commodities Exchange
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- Barasentosa Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- ICICI Bank Limited - India
- Sree Jayajothi Cements Limited - India
- Ambuja Cements Ltd - India
- Wood Mackenzie - Singapore
- Central Electricity Authority - India
- Banpu Public Company Limited - Thailand
- Videocon Industries ltd - India
- Bangladesh Power Developement Board
- Miang Besar Coal Terminal - Indonesia
- Gujarat Sidhee Cement - India
- Power Finance Corporation Ltd., India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement - Thailand
- Bulk Trading Sa - Switzerland
- GMR Energy Limited - India
- Deloitte Consulting - India
- Baramulti Group, Indonesia
- Oldendorff Carriers - Singapore
- Heidelberg Cement - Germany
- Meralco Power Generation, Philippines
- CNBM International Corporation - China
- Global Business Power Corporation, Philippines
- Sojitz Corporation - Japan
- Vedanta Resources Plc - India
- PowerSource Philippines DevCo
- Kaltim Prima Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Ind-Barath Power Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- LBH Netherlands Bv - Netherlands
- Kideco Jaya Agung - Indonesia
- Ministry of Transport, Egypt
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Commodity Traders Exchange
- SN Aboitiz Power Inc, Philippines
- Commonwealth Bank - Australia
- Latin American Coal - Colombia
- Star Paper Mills Limited - India
- Edison Trading Spa - Italy
- India Bulls Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Chamber of Mines of South Africa
- Jindal Steel & Power Ltd - India
- The State Trading Corporation of India Ltd
- London Commodity Brokers - England
- Cigading International Bulk Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Orica Australia Pty. Ltd.
- Sinarmas Energy and Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Makarim & Taira - Indonesia
- Singapore Mercantile Exchange
- Manunggal Multi Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Indian Oil Corporation Limited
- Sindya Power Generating Company Private Ltd
- Directorate General of MIneral and Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- Electricity Authority, New Zealand
- Goldman Sachs - Singapore
- Indian Energy Exchange, India
- Simpson Spence & Young - Indonesia
- Cement Manufacturers Association - India
- Asmin Koalindo Tuhup - Indonesia
- Larsen & Toubro Limited - India
- Petron Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Energy Development Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
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