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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, 04 February 15
MARKET INSIGHT - LINOS KOGEVINAS
It has been just about over 2 months since, in a move that surprised many and caused widespread apprehension, OPEC decided to maintain its producti ...
Tuesday, 03 February 15
Q1'15 FOB INDONESIA COAL SWAP CLOSED $ 3.29 HIGHER COMPARED TO Q4'15 DELIVERY PRICE
COALspot.com: Indonesian coal swaps for delivery Q1' 2015 rose week over week and month on month.
The Q1 swap up US$ 0.68 (+1.41%) month o ...
Tuesday, 03 February 15
FOB NEWCASTLE COAL SWAP FOR Q4 DELIVERY CLOSED 5.86% LOWER THAN Q1 PRICE
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2015 delivery rose US$ 0.26 per MT (+0.51%) week over week and declined US$ 0.02 (-0.04%) ...
Monday, 02 February 15
API 4 FOB RICHARDS BAY COAL SWAP ROSE WEEK OVER WEEK
COALspot.com: API 4 FOB Richards Bay Coal swap for delivery Q1' 2015 declined month over month and day on day.
The Q1 swap has decli ...
Monday, 02 February 15
INDONESIA'S ADARO ENERGY PRODUCED 56.21 MILLION TONNES OF COAL IN 2014; UP 8% Y-O-Y
COALspot.com: PT. Adaro Energy, Indonesia’s largest coal producer, has increased coal production by 8% to 56.21 million tonnes (Mt) from both ...
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- IHS Mccloskey Coal Group - USA
- Tata Chemicals Ltd - India
- Merrill Lynch Commodities Europe
- Jaiprakash Power Ventures ltd
- Africa Commodities Group - South Africa
- Straits Asia Resources Limited - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMG Consultants - Indonesia
- GMR Energy Limited - India
- Renaissance Capital - South Africa
- Cement Manufacturers Association - India
- Sree Jayajothi Cements Limited - India
- Chettinad Cement Corporation Ltd - India
- Indian Oil Corporation Limited
- Salva Resources Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Makarim & Taira - Indonesia
- Bharathi Cement Corporation - India
- White Energy Company Limited
- Central Electricity Authority - India
- Lanco Infratech Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Indika Energy - Indonesia
- Parliament of New Zealand
- Baramulti Group, Indonesia
- Meralco Power Generation, Philippines
- Antam Resourcindo - Indonesia
- PowerSource Philippines DevCo
- Rashtriya Ispat Nigam Limited - India
- Indian Energy Exchange, India
- Independent Power Producers Association of India
- Global Green Power PLC Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Malabar Cements Ltd - India
- Singapore Mercantile Exchange
- GVK Power & Infra Limited - India
- Global Business Power Corporation, Philippines
- Eastern Energy - Thailand
- Latin American Coal - Colombia
- Mercuria Energy - Indonesia
- Deloitte Consulting - India
- Bayan Resources Tbk. - Indonesia
- Tamil Nadu electricity Board
- Simpson Spence & Young - Indonesia
- Medco Energi Mining Internasional
- Larsen & Toubro Limited - India
- Manunggal Multi Energi - Indonesia
- South Luzon Thermal Energy Corporation
- Central Java Power - Indonesia
- Meenaskhi Energy Private Limited - India
- Attock Cement Pakistan Limited
- Essar Steel Hazira Ltd - India
- Bhushan Steel Limited - India
- Price Waterhouse Coopers - Russia
- Semirara Mining and Power Corporation, Philippines
- Bhatia International Limited - India
- CIMB Investment Bank - Malaysia
- Vizag Seaport Private Limited - India
- Uttam Galva Steels Limited - India
- Savvy Resources Ltd - HongKong
- Timah Investasi Mineral - Indoneisa
- Grasim Industreis Ltd - India
- Ambuja Cements Ltd - India
- Agrawal Coal Company - India
- Sical Logistics Limited - India
- Dalmia Cement Bharat India
- Billiton Holdings Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Rio Tinto Coal - Australia
- Oldendorff Carriers - Singapore
- OPG Power Generation Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Posco Energy - South Korea
- Georgia Ports Authority, United States
- Madhucon Powers Ltd - India
- Coal and Oil Company - UAE
- Directorate Of Revenue Intelligence - India
- Standard Chartered Bank - UAE
- Wood Mackenzie - Singapore
- Therma Luzon, Inc, Philippines
- The Treasury - Australian Government
- SN Aboitiz Power Inc, Philippines
- CNBM International Corporation - China
- McConnell Dowell - Australia
- Karaikal Port Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Ministry of Transport, Egypt
- Pipit Mutiara Jaya. PT, Indonesia
- Binh Thuan Hamico - Vietnam
- The State Trading Corporation of India Ltd
- Sindya Power Generating Company Private Ltd
- Thai Mozambique Logistica
- Altura Mining Limited, Indonesia
- Samtan Co., Ltd - South Korea
- GAC Shipping (India) Pvt Ltd
- Aboitiz Power Corporation - Philippines
- Gujarat Sidhee Cement - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- SMC Global Power, Philippines
- Riau Bara Harum - Indonesia
- Thiess Contractors Indonesia
- Maharashtra Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- Electricity Generating Authority of Thailand
- PTC India Limited - India
- New Zealand Coal & Carbon
- Petron Corporation, Philippines
- Port Waratah Coal Services - Australia
- Gujarat Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- India Bulls Power Limited - India
- Australian Coal Association
- GN Power Mariveles Coal Plant, Philippines
- Miang Besar Coal Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Wilmar Investment Holdings
- Karbindo Abesyapradhi - Indoneisa
- Iligan Light & Power Inc, Philippines
- Star Paper Mills Limited - India
- Carbofer General Trading SA - India
- The University of Queensland
- ICICI Bank Limited - India
- Marubeni Corporation - India
- Anglo American - United Kingdom
- Aditya Birla Group - India
- Formosa Plastics Group - Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kumho Petrochemical, South Korea
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement PLC, Thailand
- Planning Commission, India
- Energy Development Corp, Philippines
- Orica Australia Pty. Ltd.
- Minerals Council of Australia
- Electricity Authority, New Zealand
- Energy Link Ltd, New Zealand
- LBH Netherlands Bv - Netherlands
- Krishnapatnam Port Company Ltd. - India
- Australian Commodity Traders Exchange
- Pendopo Energi Batubara - Indonesia
- Mintek Dendrill Indonesia
- Sojitz Corporation - Japan
- Kaltim Prima Coal - Indonesia
- Eastern Coal Council - USA
- Commonwealth Bank - Australia
- Indonesian Coal Mining Association
- Bangladesh Power Developement Board
- Sakthi Sugars Limited - India
- Bulk Trading Sa - Switzerland
- Directorate General of MIneral and Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Edison Trading Spa - Italy
- Chamber of Mines of South Africa
- Xindia Steels Limited - India
- Barasentosa Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Economic Council, Georgia
- Alfred C Toepfer International GmbH - Germany
- Maheswari Brothers Coal Limited - India
- Siam City Cement - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Bahari Cakrawala Sebuku - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Sarangani Energy Corporation, Philippines
- ASAPP Information Group - India
- Toyota Tsusho Corporation, Japan
- Indo Tambangraya Megah - Indonesia
- Heidelberg Cement - Germany
- IEA Clean Coal Centre - UK
- MS Steel International - UAE
- Leighton Contractors Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Banpu Public Company Limited - Thailand
- VISA Power Limited - India
- Orica Mining Services - Indonesia
- Interocean Group of Companies - India
- Kohat Cement Company Ltd. - Pakistan
- Mjunction Services Limited - India
- Ministry of Mines - Canada
- TeaM Sual Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Intertek Mineral Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Parry Sugars Refinery, India
- Ministry of Finance - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Holcim Trading Pte Ltd - Singapore
- Coalindo Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Indogreen Group - Indonesia
- Borneo Indobara - Indonesia
- Romanian Commodities Exchange
- Goldman Sachs - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Kartika Selabumi Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Videocon Industries ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Trasteel International SA, Italy
- Vedanta Resources Plc - India
- Mercator Lines Limited - India
- Globalindo Alam Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Bukit Makmur.PT - Indonesia
- London Commodity Brokers - England
- Bhoruka Overseas - Indonesia
- Power Finance Corporation Ltd., India
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