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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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Sunday, 18 January 15
INDONESIA TO INDIA SUPRAMAX FREIGHT RATES ARE EXPECTED TO REMAIN WEAK NEXT WEEK
COALspot.com: The BDI was up 4.51 pct week on week on Friday 16, January 2015. The BDI closed at 741 points on this Friday after gaining arou ...
Friday, 16 January 15
U.S. WEEKLY COAL PRODUCTION UP 7.3% W-O-W
COALspot.com – United States the world's one of the largest coal producers, produced approximately 18.9 million short tons (mmst) of coal ...
Thursday, 15 January 15
PANAMAX : MARKET CONTINUE ON LOW PACE - FEARNLEYS
Handy
On a general basis we can say that rates are softening in both hemispheres. Although for some specific trades we can see premiums being ach ...
Thursday, 15 January 15
LOW CASH COSTS, GOOD LIQUIDITY HELP ASIAN OIL COMPANIES IN PRICE ROUT - FITCH
Fitch Ratings says that rated oil and gas production companies in Asia can comfortably operate under low oil prices for some time given their gener ...
Wednesday, 14 January 15
DRY BULK MARKET NOTED ANOTHER WEEKLY DECLINE - INTERMODAL
COALspot.com: The Dry bulk market noted another weekly decline on Friday, with the performance of the Capesize market still weighing down on the re ...
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- Ministry of Finance - Indonesia
- Formosa Plastics Group - Taiwan
- Lanco Infratech Ltd - India
- Planning Commission, India
- Oldendorff Carriers - Singapore
- OPG Power Generation Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Salva Resources Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Savvy Resources Ltd - HongKong
- Semirara Mining and Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Thai Mozambique Logistica
- ICICI Bank Limited - India
- Eastern Energy - Thailand
- Timah Investasi Mineral - Indoneisa
- Grasim Industreis Ltd - India
- Orica Australia Pty. Ltd.
- Xindia Steels Limited - India
- Trasteel International SA, Italy
- Barasentosa Lestari - Indonesia
- Borneo Indobara - Indonesia
- Simpson Spence & Young - Indonesia
- Global Coal Blending Company Limited - Australia
- Aditya Birla Group - India
- Indonesian Coal Mining Association
- Posco Energy - South Korea
- Ministry of Mines - Canada
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Standard Chartered Bank - UAE
- Central Java Power - Indonesia
- Siam City Cement - Thailand
- Rio Tinto Coal - Australia
- Karaikal Port Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Kobexindo Tractors - Indoneisa
- PNOC Exploration Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- CNBM International Corporation - China
- Indo Tambangraya Megah - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Altura Mining Limited, Indonesia
- Gujarat Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- Latin American Coal - Colombia
- Coal and Oil Company - UAE
- Renaissance Capital - South Africa
- Maheswari Brothers Coal Limited - India
- Ambuja Cements Ltd - India
- Bangladesh Power Developement Board
- Kideco Jaya Agung - Indonesia
- Attock Cement Pakistan Limited
- European Bulk Services B.V. - Netherlands
- Directorate Of Revenue Intelligence - India
- Electricity Authority, New Zealand
- Parliament of New Zealand
- The State Trading Corporation of India Ltd
- Baramulti Group, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Edison Trading Spa - Italy
- Directorate General of MIneral and Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- PowerSource Philippines DevCo
- Chettinad Cement Corporation Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Rashtriya Ispat Nigam Limited - India
- VISA Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Antam Resourcindo - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Indika Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Tamil Nadu electricity Board
- Bukit Baiduri Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Deloitte Consulting - India
- Mercator Lines Limited - India
- Price Waterhouse Coopers - Russia
- SN Aboitiz Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- GVK Power & Infra Limited - India
- Anglo American - United Kingdom
- Bulk Trading Sa - Switzerland
- Thiess Contractors Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- SMG Consultants - Indonesia
- Toyota Tsusho Corporation, Japan
- Iligan Light & Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Interocean Group of Companies - India
- Globalindo Alam Lestari - Indonesia
- Dalmia Cement Bharat India
- Bukit Makmur.PT - Indonesia
- Independent Power Producers Association of India
- New Zealand Coal & Carbon
- PTC India Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Wilmar Investment Holdings
- Makarim & Taira - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Madhucon Powers Ltd - India
- Bharathi Cement Corporation - India
- India Bulls Power Limited - India
- Mintek Dendrill Indonesia
- Ind-Barath Power Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Minerals Council of Australia
- Bhatia International Limited - India
- Pendopo Energi Batubara - Indonesia
- Essar Steel Hazira Ltd - India
- ASAPP Information Group - India
- Larsen & Toubro Limited - India
- Kaltim Prima Coal - Indonesia
- Bhushan Steel Limited - India
- London Commodity Brokers - England
- Vijayanagar Sugar Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Global Business Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Central Electricity Authority - India
- Ministry of Transport, Egypt
- Jorong Barutama Greston.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Goldman Sachs - Singapore
- Krishnapatnam Port Company Ltd. - India
- GN Power Mariveles Coal Plant, Philippines
- The Treasury - Australian Government
- Kumho Petrochemical, South Korea
- Energy Link Ltd, New Zealand
- Malabar Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- TeaM Sual Corporation - Philippines
- GMR Energy Limited - India
- Africa Commodities Group - South Africa
- Sinarmas Energy and Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Samtan Co., Ltd - South Korea
- Star Paper Mills Limited - India
- Power Finance Corporation Ltd., India
- Sojitz Corporation - Japan
- Chamber of Mines of South Africa
- Medco Energi Mining Internasional
- Georgia Ports Authority, United States
- Australian Commodity Traders Exchange
- Meralco Power Generation, Philippines
- Tata Chemicals Ltd - India
- Romanian Commodities Exchange
- Aboitiz Power Corporation - Philippines
- Mercuria Energy - Indonesia
- Gujarat Sidhee Cement - India
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Coal Council - USA
- Sical Logistics Limited - India
- Ceylon Electricity Board - Sri Lanka
- Economic Council, Georgia
- Energy Development Corp, Philippines
- The University of Queensland
- Commonwealth Bank - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Metalloyd Limited - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- Riau Bara Harum - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- IEA Clean Coal Centre - UK
- Port Waratah Coal Services - Australia
- Binh Thuan Hamico - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Jindal Steel & Power Ltd - India
- McConnell Dowell - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wood Mackenzie - Singapore
- Carbofer General Trading SA - India
- Meenaskhi Energy Private Limited - India
- Indian Oil Corporation Limited
- Parry Sugars Refinery, India
- Intertek Mineral Services - Indonesia
- Videocon Industries ltd - India
- Coastal Gujarat Power Limited - India
- Agrawal Coal Company - India
- Marubeni Corporation - India
- Global Green Power PLC Corporation, Philippines
- Indogreen Group - Indonesia
- Petron Corporation, Philippines
- MS Steel International - UAE
- White Energy Company Limited
- CIMB Investment Bank - Malaysia
- Straits Asia Resources Limited - Singapore
- Kepco SPC Power Corporation, Philippines
- Heidelberg Cement - Germany
- SMC Global Power, Philippines
- Singapore Mercantile Exchange
- Siam City Cement PLC, Thailand
- Cement Manufacturers Association - India
- Mjunction Services Limited - India
- Australian Coal Association
- Vedanta Resources Plc - India
- Cigading International Bulk Terminal - Indonesia
- Orica Mining Services - Indonesia
- Uttam Galva Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Vizag Seaport Private Limited - India
- Indian Energy Exchange, India
- Jaiprakash Power Ventures ltd
- Alfred C Toepfer International GmbH - Germany
- PetroVietnam Power Coal Import and Supply Company
- Bhoruka Overseas - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Coalindo Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
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