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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, 20 January 15
INDONESIAN COAL OUTPUT SEEN RISING, DESPITE FALL IN ITS PRICE
COALspot.com: Indonesian coal swaps for delivery Q1' 2015 declined month on month and week over week, but Indonesian Coal Output Seen Rising. T ...
Tuesday, 20 January 15
NEWCASTLE COAL SWAP FOR Q1' 2015 DELIVERY DECLINED 2.83% M-O-M
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2015 delivery declined US$ 1.45 per MT (-2.83%) month over month and US$ 0.50 (-0.99%) we ...
Monday, 19 January 15
HBA FALL TO FRESH LOWS; COAL OVERSUPPLY WILL CONTINUE TO PUSH PRICE DOWN
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia revised down Indonesian coal bench mark price this month to US$ 63.84. T ...
Monday, 19 January 15
CFR SOUTH CHINA COAL SWAPS REMAIN WEAK
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2015 delivery declined US$ 3.37 (-5.63%) per MT month over month and US$ 0.74 (-1.29%) ...
Monday, 19 January 15
FOB RICHARDS BAY COAL SWAP FOR Q4 DELIVERY CLOSED 4% LOWER THAN Q1 DELIVERY PRICE
COALspot.com: API 4 FOB Richards Bay Coal swap for delivery Q1' 2015 declined month over month and week over week.
The Q1 swap has f ...
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- Altura Mining Limited, Indonesia
- Marubeni Corporation - India
- South Luzon Thermal Energy Corporation
- Renaissance Capital - South Africa
- Central Java Power - Indonesia
- Ministry of Finance - Indonesia
- Petron Corporation, Philippines
- Tata Chemicals Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Antam Resourcindo - Indonesia
- Merrill Lynch Commodities Europe
- Directorate General of MIneral and Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The Treasury - Australian Government
- MS Steel International - UAE
- Australian Coal Association
- Meralco Power Generation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Larsen & Toubro Limited - India
- Ministry of Mines - Canada
- Kohat Cement Company Ltd. - Pakistan
- Iligan Light & Power Inc, Philippines
- Wood Mackenzie - Singapore
- GMR Energy Limited - India
- Miang Besar Coal Terminal - Indonesia
- Wilmar Investment Holdings
- Commonwealth Bank - Australia
- International Coal Ventures Pvt Ltd - India
- Tamil Nadu electricity Board
- Heidelberg Cement - Germany
- Coal and Oil Company - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Billiton Holdings Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Ceylon Electricity Board - Sri Lanka
- PowerSource Philippines DevCo
- Kartika Selabumi Mining - Indonesia
- Economic Council, Georgia
- Chamber of Mines of South Africa
- Aditya Birla Group - India
- Jorong Barutama Greston.PT - Indonesia
- Indian Oil Corporation Limited
- Independent Power Producers Association of India
- Kapuas Tunggal Persada - Indonesia
- Australian Commodity Traders Exchange
- San Jose City I Power Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- IHS Mccloskey Coal Group - USA
- Meenaskhi Energy Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- SN Aboitiz Power Inc, Philippines
- Mjunction Services Limited - India
- Formosa Plastics Group - Taiwan
- Timah Investasi Mineral - Indoneisa
- Baramulti Group, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining and Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Indika Energy - Indonesia
- Carbofer General Trading SA - India
- Bhatia International Limited - India
- Gujarat Sidhee Cement - India
- Kepco SPC Power Corporation, Philippines
- Goldman Sachs - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Planning Commission, India
- Global Coal Blending Company Limited - Australia
- Aboitiz Power Corporation - Philippines
- Siam City Cement PLC, Thailand
- Xindia Steels Limited - India
- Coalindo Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Savvy Resources Ltd - HongKong
- Riau Bara Harum - Indonesia
- Toyota Tsusho Corporation, Japan
- Bhoruka Overseas - Indonesia
- Oldendorff Carriers - Singapore
- Bukit Makmur.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bharathi Cement Corporation - India
- Energy Development Corp, Philippines
- CNBM International Corporation - China
- Makarim & Taira - Indonesia
- Vedanta Resources Plc - India
- Holcim Trading Pte Ltd - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The University of Queensland
- Electricity Generating Authority of Thailand
- Orica Australia Pty. Ltd.
- Semirara Mining Corp, Philippines
- Indonesian Coal Mining Association
- Eastern Coal Council - USA
- Georgia Ports Authority, United States
- Romanian Commodities Exchange
- Videocon Industries ltd - India
- Africa Commodities Group - South Africa
- Price Waterhouse Coopers - Russia
- Ministry of Transport, Egypt
- Simpson Spence & Young - Indonesia
- Lanco Infratech Ltd - India
- Minerals Council of Australia
- Power Finance Corporation Ltd., India
- Standard Chartered Bank - UAE
- Barasentosa Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Sree Jayajothi Cements Limited - India
- Pendopo Energi Batubara - Indonesia
- Edison Trading Spa - Italy
- Mercator Lines Limited - India
- Manunggal Multi Energi - Indonesia
- The State Trading Corporation of India Ltd
- Uttam Galva Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Grasim Industreis Ltd - India
- Thai Mozambique Logistica
- Kumho Petrochemical, South Korea
- Siam City Cement - Thailand
- ICICI Bank Limited - India
- Essar Steel Hazira Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Borneo Indobara - Indonesia
- Sojitz Corporation - Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Interocean Group of Companies - India
- New Zealand Coal & Carbon
- Bank of Tokyo Mitsubishi UFJ Ltd
- TeaM Sual Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Medco Energi Mining Internasional
- India Bulls Power Limited - India
- Banpu Public Company Limited - Thailand
- Madhucon Powers Ltd - India
- Agrawal Coal Company - India
- Star Paper Mills Limited - India
- Electricity Authority, New Zealand
- Posco Energy - South Korea
- Vizag Seaport Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- White Energy Company Limited
- Ind-Barath Power Infra Limited - India
- Global Business Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rio Tinto Coal - Australia
- OPG Power Generation Pvt Ltd - India
- Central Electricity Authority - India
- Karaikal Port Pvt Ltd - India
- Mercuria Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Singapore Mercantile Exchange
- Orica Mining Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dalmia Cement Bharat India
- Straits Asia Resources Limited - Singapore
- Globalindo Alam Lestari - Indonesia
- Bangladesh Power Developement Board
- Eastern Energy - Thailand
- Thiess Contractors Indonesia
- London Commodity Brokers - England
- GVK Power & Infra Limited - India
- Attock Cement Pakistan Limited
- IEA Clean Coal Centre - UK
- Ambuja Cements Ltd - India
- Samtan Co., Ltd - South Korea
- ASAPP Information Group - India
- SMG Consultants - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Port Waratah Coal Services - Australia
- Chettinad Cement Corporation Ltd - India
- Mintek Dendrill Indonesia
- Energy Link Ltd, New Zealand
- SMC Global Power, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Latin American Coal - Colombia
- Sical Logistics Limited - India
- Coastal Gujarat Power Limited - India
- Deloitte Consulting - India
- PNOC Exploration Corporation - Philippines
- McConnell Dowell - Australia
- PTC India Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Trasteel International SA, Italy
- Sarangani Energy Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Parliament of New Zealand
- Global Green Power PLC Corporation, Philippines
- Sakthi Sugars Limited - India
- Jaiprakash Power Ventures ltd
- Bhushan Steel Limited - India
- Jindal Steel & Power Ltd - India
- Parry Sugars Refinery, India
- Rashtriya Ispat Nigam Limited - India
- Cement Manufacturers Association - India
- Indian Energy Exchange, India
- Anglo American - United Kingdom
- Malabar Cements Ltd - India
- CIMB Investment Bank - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Indogreen Group - Indonesia
- Sindya Power Generating Company Private Ltd
- Maheswari Brothers Coal Limited - India
- Binh Thuan Hamico - Vietnam
- VISA Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Maharashtra Electricity Regulatory Commission - India
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