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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, 14 January 15
MARKET INSIGHT - TIMOS PAPADIMITRIOU
In Oil we trust! The Barrel price has declined by almost a third in comparison to the 2014 January and has being on the downhill since early last s ...
Wednesday, 14 January 15
COMMODITIES AREN'T PRIMED FOR A REBOUND DURING 2015: SHIPPING COULD BENEFIT FROM LOWER PRICES - ROUSSANOGLOU, HELLENIC SHIPPING NEWS
In the recent past, higher commodity prices were driven by an increase in demand from developing countries, which spelled good news for ship owners ...
Wednesday, 14 January 15
SUB-BIT FOB INDONESIA COAL SWAP FOR Q1 DELIVERY CLOSED AT US$ 46.97 PMT
COALspot.com: Indonesian coal swaps for delivery Q1' 2015 declined month on month and week over week.
The Q1 swap has fell US$ 1.53 (-3.15 ...
Wednesday, 14 January 15
Q4' 15 FOB NEWCASTLE COAL SWAP CLOSED 4.51% LOWER COMPARED TO Q1' 15 PRICE
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2015 delivery lost US$ 1.56 per MT (-3.0%) month over month and US$ 1.03 (-2.0%) week ove ...
Tuesday, 13 January 15
MORE PITFALLS FOR OWNERS LOOKING TO TERMINATE FOR UNPAID HIRE - INCE & CO
KNOWLEDGE TO ELEVATE
It is a debatable point whether or not the obligation to pay hire under a time charter is a condition of the contract or ...
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- ICICI Bank Limited - India
- Miang Besar Coal Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Riau Bara Harum - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- San Jose City I Power Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Krishnapatnam Port Company Ltd. - India
- Vijayanagar Sugar Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Mercator Lines Limited - India
- Mjunction Services Limited - India
- Altura Mining Limited, Indonesia
- LBH Netherlands Bv - Netherlands
- Indika Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Central Java Power - Indonesia
- Siam City Cement PLC, Thailand
- Karbindo Abesyapradhi - Indoneisa
- Tata Chemicals Ltd - India
- Ministry of Finance - Indonesia
- Bhatia International Limited - India
- ASAPP Information Group - India
- Bhoruka Overseas - Indonesia
- Port Waratah Coal Services - Australia
- London Commodity Brokers - England
- Mercuria Energy - Indonesia
- Sakthi Sugars Limited - India
- Xindia Steels Limited - India
- Madhucon Powers Ltd - India
- Standard Chartered Bank - UAE
- Semirara Mining and Power Corporation, Philippines
- Tamil Nadu electricity Board
- SN Aboitiz Power Inc, Philippines
- Singapore Mercantile Exchange
- OPG Power Generation Pvt Ltd - India
- Energy Development Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Metalloyd Limited - United Kingdom
- Electricity Generating Authority of Thailand
- European Bulk Services B.V. - Netherlands
- White Energy Company Limited
- Neyveli Lignite Corporation Ltd, - India
- Grasim Industreis Ltd - India
- VISA Power Limited - India
- The University of Queensland
- South Luzon Thermal Energy Corporation
- International Coal Ventures Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Bukit Makmur.PT - Indonesia
- Ambuja Cements Ltd - India
- Indogreen Group - Indonesia
- PNOC Exploration Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Global Green Power PLC Corporation, Philippines
- Bhushan Steel Limited - India
- Commonwealth Bank - Australia
- Electricity Authority, New Zealand
- Sarangani Energy Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- The Treasury - Australian Government
- Bulk Trading Sa - Switzerland
- Vedanta Resources Plc - India
- Malabar Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Sojitz Corporation - Japan
- Semirara Mining Corp, Philippines
- PTC India Limited - India
- Salva Resources Pvt Ltd - India
- Anglo American - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Savvy Resources Ltd - HongKong
- Coal and Oil Company - UAE
- Essar Steel Hazira Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Energy Link Ltd, New Zealand
- Orica Australia Pty. Ltd.
- Economic Council, Georgia
- Power Finance Corporation Ltd., India
- Ministry of Mines - Canada
- MS Steel International - UAE
- Maharashtra Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Videocon Industries ltd - India
- McConnell Dowell - Australia
- Parry Sugars Refinery, India
- Iligan Light & Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Chamber of Mines of South Africa
- Australian Commodity Traders Exchange
- AsiaOL BioFuels Corp., Philippines
- Trasteel International SA, Italy
- Coastal Gujarat Power Limited - India
- India Bulls Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Meralco Power Generation, Philippines
- Petron Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Indo Tambangraya Megah - Indonesia
- Sical Logistics Limited - India
- Bayan Resources Tbk. - Indonesia
- Goldman Sachs - Singapore
- Global Business Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Rio Tinto Coal - Australia
- TeaM Sual Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Siam City Cement - Thailand
- Interocean Group of Companies - India
- Kapuas Tunggal Persada - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- PowerSource Philippines DevCo
- Manunggal Multi Energi - Indonesia
- Antam Resourcindo - Indonesia
- Sree Jayajothi Cements Limited - India
- Romanian Commodities Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- GMR Energy Limited - India
- IHS Mccloskey Coal Group - USA
- Indian Oil Corporation Limited
- Pendopo Energi Batubara - Indonesia
- Wood Mackenzie - Singapore
- CNBM International Corporation - China
- Dalmia Cement Bharat India
- Australian Coal Association
- Indonesian Coal Mining Association
- Thai Mozambique Logistica
- Parliament of New Zealand
- Timah Investasi Mineral - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Cement Manufacturers Association - India
- Kepco SPC Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Borneo Indobara - Indonesia
- Baramulti Group, Indonesia
- Samtan Co., Ltd - South Korea
- Eastern Energy - Thailand
- Larsen & Toubro Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Intertek Mineral Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Independent Power Producers Association of India
- Holcim Trading Pte Ltd - Singapore
- Medco Energi Mining Internasional
- Thiess Contractors Indonesia
- Posco Energy - South Korea
- Agrawal Coal Company - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Energy Exchange, India
- New Zealand Coal & Carbon
- Kaltim Prima Coal - Indonesia
- Kumho Petrochemical, South Korea
- Marubeni Corporation - India
- Minerals Council of Australia
- Deloitte Consulting - India
- SMG Consultants - Indonesia
- Makarim & Taira - Indonesia
- Aditya Birla Group - India
- Sinarmas Energy and Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Directorate Of Revenue Intelligence - India
- Attock Cement Pakistan Limited
- Straits Asia Resources Limited - Singapore
- Bukit Baiduri Energy - Indonesia
- Lanco Infratech Ltd - India
- Africa Commodities Group - South Africa
- Aboitiz Power Corporation - Philippines
- Bharathi Cement Corporation - India
- Kartika Selabumi Mining - Indonesia
- Oldendorff Carriers - Singapore
- Gujarat Sidhee Cement - India
- Eastern Coal Council - USA
- Ministry of Transport, Egypt
- Sindya Power Generating Company Private Ltd
- Jorong Barutama Greston.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Vizag Seaport Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Star Paper Mills Limited - India
- Globalindo Alam Lestari - Indonesia
- Central Electricity Authority - India
- Jindal Steel & Power Ltd - India
- Ind-Barath Power Infra Limited - India
- Simpson Spence & Young - Indonesia
- Wilmar Investment Holdings
- Renaissance Capital - South Africa
- Maheswari Brothers Coal Limited - India
- Kobexindo Tractors - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Latin American Coal - Colombia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Heidelberg Cement - Germany
- GAC Shipping (India) Pvt Ltd
- Bangladesh Power Developement Board
- Orica Mining Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Carbofer General Trading SA - India
- Price Waterhouse Coopers - Russia
- Mintek Dendrill Indonesia
- Planning Commission, India
- GVK Power & Infra Limited - India
- Georgia Ports Authority, United States
- SMC Global Power, Philippines
- Banpu Public Company Limited - Thailand
- Formosa Plastics Group - Taiwan
- Edison Trading Spa - Italy
- Uttam Galva Steels Limited - India
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