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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, 13 January 15
Q2 CFR SOUTH CHINA COAL SWAP DECLINED 8.66% M-O-M
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2015 delivery declined by US$ 3.48 (-5.73%) month over month and US$ 2.35 (-3.94%) week ...
Tuesday, 13 January 15
Q1' 2015 RICHARDS BAY COAL SWAP SLIGHTLY HIGHER THAN Q2 & Q4 2015 SWAPS
COALspot.com: API 4 FOB Richards Bay Coal swap for delivery Q1' 2015 lost month on month and week over week.
The Q1 swap has lost US$ 7.21 ...
Monday, 12 January 15
COAL: LOW PRICES ARE EXPECTED TO DRIVE A SUPPLY-DRIVEN RECOVERY IN THE MEDIUM TERM - SGX
COALspot.com: Thermal coal prices dropped to six-year lows in 2014 driven by persistent oversupply, SGX says in its “ Commodities 2014 - A ye ...
Monday, 12 January 15
FREIGHT MARKET: 2015 FLEET SUPPLY GROWTH IS EXPECTED TO REMAIN SLIGHTLY AHEAD OF CARGO GROWTH - SGX
COALspot.com: The dry bulk freight market was forced to digest a number of negatives in 2014 leading the Baltic Dry Index to fall 66% through the y ...
Monday, 12 January 15
SHIPPING - CHALLENGES AND RESOLUTIONS - EVA TZIMA
Last year has without a doubt been another challenging one both for both our industry and our country. As Greece is currently dominated by election ...
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- Directorate Of Revenue Intelligence - India
- Renaissance Capital - South Africa
- Petron Corporation, Philippines
- Siam City Cement - Thailand
- Maheswari Brothers Coal Limited - India
- OPG Power Generation Pvt Ltd - India
- Edison Trading Spa - Italy
- McConnell Dowell - Australia
- Deloitte Consulting - India
- Bharathi Cement Corporation - India
- Ind-Barath Power Infra Limited - India
- San Jose City I Power Corp, Philippines
- Dalmia Cement Bharat India
- Semirara Mining and Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- SN Aboitiz Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- VISA Power Limited - India
- Medco Energi Mining Internasional
- Samtan Co., Ltd - South Korea
- Leighton Contractors Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Wilmar Investment Holdings
- Indogreen Group - Indonesia
- Thai Mozambique Logistica
- Savvy Resources Ltd - HongKong
- Intertek Mineral Services - Indonesia
- Georgia Ports Authority, United States
- PetroVietnam Power Coal Import and Supply Company
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Planning Commission, India
- Altura Mining Limited, Indonesia
- Economic Council, Georgia
- IHS Mccloskey Coal Group - USA
- Indian Oil Corporation Limited
- Global Coal Blending Company Limited - Australia
- Kaltim Prima Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Sical Logistics Limited - India
- Banpu Public Company Limited - Thailand
- The State Trading Corporation of India Ltd
- Meenaskhi Energy Private Limited - India
- Videocon Industries ltd - India
- Grasim Industreis Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- Australian Commodity Traders Exchange
- TeaM Sual Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Ambuja Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- Global Business Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Eastern Coal Council - USA
- Goldman Sachs - Singapore
- Agrawal Coal Company - India
- Kapuas Tunggal Persada - Indonesia
- Heidelberg Cement - Germany
- Thiess Contractors Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Energy Exchange, India
- Wood Mackenzie - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- Chamber of Mines of South Africa
- Jindal Steel & Power Ltd - India
- The University of Queensland
- Gujarat Mineral Development Corp Ltd - India
- Malabar Cements Ltd - India
- Central Java Power - Indonesia
- Vedanta Resources Plc - India
- Posco Energy - South Korea
- Sree Jayajothi Cements Limited - India
- Indo Tambangraya Megah - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Madhucon Powers Ltd - India
- Rashtriya Ispat Nigam Limited - India
- White Energy Company Limited
- Therma Luzon, Inc, Philippines
- Marubeni Corporation - India
- Africa Commodities Group - South Africa
- Tata Chemicals Ltd - India
- Interocean Group of Companies - India
- Mintek Dendrill Indonesia
- Bangladesh Power Developement Board
- SMG Consultants - Indonesia
- Eastern Energy - Thailand
- Electricity Generating Authority of Thailand
- Tamil Nadu electricity Board
- Bahari Cakrawala Sebuku - Indonesia
- ASAPP Information Group - India
- MS Steel International - UAE
- International Coal Ventures Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- CIMB Investment Bank - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Cement Manufacturers Association - India
- Sojitz Corporation - Japan
- Minerals Council of Australia
- Anglo American - United Kingdom
- Romanian Commodities Exchange
- GVK Power & Infra Limited - India
- CNBM International Corporation - China
- Bayan Resources Tbk. - Indonesia
- Antam Resourcindo - Indonesia
- Iligan Light & Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Makarim & Taira - Indonesia
- GAC Shipping (India) Pvt Ltd
- Energy Link Ltd, New Zealand
- Coastal Gujarat Power Limited - India
- Commonwealth Bank - Australia
- PTC India Limited - India
- Parry Sugars Refinery, India
- Central Electricity Authority - India
- Orica Australia Pty. Ltd.
- Straits Asia Resources Limited - Singapore
- PNOC Exploration Corporation - Philippines
- Larsen & Toubro Limited - India
- Attock Cement Pakistan Limited
- Coalindo Energy - Indonesia
- Siam City Cement PLC, Thailand
- GN Power Mariveles Coal Plant, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- IEA Clean Coal Centre - UK
- Price Waterhouse Coopers - Russia
- Latin American Coal - Colombia
- Lanco Infratech Ltd - India
- Bhatia International Limited - India
- Global Green Power PLC Corporation, Philippines
- Sakthi Sugars Limited - India
- SMC Global Power, Philippines
- Sinarmas Energy and Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Mjunction Services Limited - India
- Ministry of Finance - Indonesia
- Timah Investasi Mineral - Indoneisa
- Star Paper Mills Limited - India
- GMR Energy Limited - India
- Coal and Oil Company - UAE
- Jorong Barutama Greston.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Carbofer General Trading SA - India
- Jaiprakash Power Ventures ltd
- The Treasury - Australian Government
- Karaikal Port Pvt Ltd - India
- Rio Tinto Coal - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Singapore Mercantile Exchange
- London Commodity Brokers - England
- AsiaOL BioFuels Corp., Philippines
- Binh Thuan Hamico - Vietnam
- Parliament of New Zealand
- Borneo Indobara - Indonesia
- Bukit Baiduri Energy - Indonesia
- Uttam Galva Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- Holcim Trading Pte Ltd - Singapore
- Energy Development Corp, Philippines
- Essar Steel Hazira Ltd - India
- Kideco Jaya Agung - Indonesia
- Independent Power Producers Association of India
- Ceylon Electricity Board - Sri Lanka
- Formosa Plastics Group - Taiwan
- Simpson Spence & Young - Indonesia
- Xindia Steels Limited - India
- Mercuria Energy - Indonesia
- Electricity Authority, New Zealand
- Barasentosa Lestari - Indonesia
- Aditya Birla Group - India
- Cigading International Bulk Terminal - Indonesia
- Gujarat Sidhee Cement - India
- Karbindo Abesyapradhi - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Mercator Lines Limited - India
- Ministry of Mines - Canada
- South Luzon Thermal Energy Corporation
- New Zealand Coal & Carbon
- Bukit Makmur.PT - Indonesia
- Port Waratah Coal Services - Australia
- Bhushan Steel Limited - India
- Australian Coal Association
- Trasteel International SA, Italy
- Salva Resources Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining Corp, Philippines
- ICICI Bank Limited - India
- Ministry of Transport, Egypt
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Pendopo Energi Batubara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- PowerSource Philippines DevCo
- India Bulls Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Meralco Power Generation, Philippines
- Baramulti Group, Indonesia
- Power Finance Corporation Ltd., India
- Bhoruka Overseas - Indonesia
- Riau Bara Harum - Indonesia
- Indonesian Coal Mining Association
- LBH Netherlands Bv - Netherlands
- Orica Mining Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Miang Besar Coal Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- Standard Chartered Bank - UAE
- Indika Energy - Indonesia
- Vizag Seaport Private Limited - India
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