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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, 11 January 15
BDI DECLINED 8% ON WEEK; BCI LOST 31%
COALspot.com: The BDI continued its decline in the first week of this year or lost 8 pct week over week. The BDI was closed at 709 points whi ...
Friday, 09 January 15
U.S. EASTERN SPOT STEAM COAL PRICES FELL IN 2014; ROSE IN WEST - EIA
U.S. Eastern spot steam coal prices declined in 2014 compared to 2013 levels because of a decline in steam coal exports.
According to U.S. Ene ...
Friday, 09 January 15
WEEKLY U.S. COAL PRODUCTION UP AN ESTIMATED 2.2% Y-O-Y
COALspot.com – United States the world's one of the largest coal producers, produced approximately 17.6 million short tons (mmst) of coal ...
Thursday, 08 January 15
INDONESIA PRESSES ON WITH HIGHER COAL ROYALTY FEE TO BOOST STATE REVENUE - JG
The Indonesian government is pressing on with its plan to raise the royalty charged to coal miners in order to increase state revenue, but the move ...
Wednesday, 07 January 15
FUEL EFFICIENT SHIPS MAKE LESS SENSE IN LOWER BUNKER PRICE MARKET, BUT FUEL COSTS ARE BOUND TO RISE AGAIN
The shipping industry entered 2015 on mixed emotions, as a relatively buoyant tanker market is met by a rather lackluster dry bulk market. Still, a ...
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- Xindia Steels Limited - India
- Chamber of Mines of South Africa
- GMR Energy Limited - India
- Oldendorff Carriers - Singapore
- Global Coal Blending Company Limited - Australia
- Semirara Mining Corp, Philippines
- Sojitz Corporation - Japan
- Parry Sugars Refinery, India
- The University of Queensland
- Asmin Koalindo Tuhup - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Mercuria Energy - Indonesia
- Cement Manufacturers Association - India
- Lanco Infratech Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Bulk Trading Sa - Switzerland
- Bahari Cakrawala Sebuku - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Energy Link Ltd, New Zealand
- Bayan Resources Tbk. - Indonesia
- Salva Resources Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Vizag Seaport Private Limited - India
- Ministry of Transport, Egypt
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meenaskhi Energy Private Limited - India
- Carbofer General Trading SA - India
- AsiaOL BioFuels Corp., Philippines
- Orica Mining Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Bhatia International Limited - India
- PTC India Limited - India
- Metalloyd Limited - United Kingdom
- Bhoruka Overseas - Indonesia
- Price Waterhouse Coopers - Russia
- IHS Mccloskey Coal Group - USA
- SN Aboitiz Power Inc, Philippines
- Independent Power Producers Association of India
- Planning Commission, India
- Vijayanagar Sugar Pvt Ltd - India
- Marubeni Corporation - India
- CIMB Investment Bank - Malaysia
- Karaikal Port Pvt Ltd - India
- Meralco Power Generation, Philippines
- Therma Luzon, Inc, Philippines
- Port Waratah Coal Services - Australia
- Parliament of New Zealand
- London Commodity Brokers - England
- Georgia Ports Authority, United States
- International Coal Ventures Pvt Ltd - India
- Edison Trading Spa - Italy
- Coastal Gujarat Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- New Zealand Coal & Carbon
- Kalimantan Lumbung Energi - Indonesia
- Wood Mackenzie - Singapore
- Tamil Nadu electricity Board
- PowerSource Philippines DevCo
- Africa Commodities Group - South Africa
- Altura Mining Limited, Indonesia
- Formosa Plastics Group - Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pendopo Energi Batubara - Indonesia
- TeaM Sual Corporation - Philippines
- Anglo American - United Kingdom
- PNOC Exploration Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Siam City Cement - Thailand
- Interocean Group of Companies - India
- Coal and Oil Company - UAE
- Makarim & Taira - Indonesia
- Iligan Light & Power Inc, Philippines
- Petron Corporation, Philippines
- Heidelberg Cement - Germany
- Banpu Public Company Limited - Thailand
- Binh Thuan Hamico - Vietnam
- Bhushan Steel Limited - India
- Globalindo Alam Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Wilmar Investment Holdings
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Central Electricity Authority - India
- Chettinad Cement Corporation Ltd - India
- San Jose City I Power Corp, Philippines
- Economic Council, Georgia
- ICICI Bank Limited - India
- Electricity Authority, New Zealand
- Goldman Sachs - Singapore
- OPG Power Generation Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Mintek Dendrill Indonesia
- Bangladesh Power Developement Board
- Bukit Asam (Persero) Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Gujarat Electricity Regulatory Commission - India
- White Energy Company Limited
- MS Steel International - UAE
- CNBM International Corporation - China
- Toyota Tsusho Corporation, Japan
- Videocon Industries ltd - India
- Mercator Lines Limited - India
- Jorong Barutama Greston.PT - Indonesia
- The Treasury - Australian Government
- Aboitiz Power Corporation - Philippines
- Vedanta Resources Plc - India
- Indo Tambangraya Megah - Indonesia
- Eastern Energy - Thailand
- Bharathi Cement Corporation - India
- Indika Energy - Indonesia
- Siam City Cement PLC, Thailand
- Essar Steel Hazira Ltd - India
- Agrawal Coal Company - India
- Kaltim Prima Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Sindya Power Generating Company Private Ltd
- Sical Logistics Limited - India
- Maheswari Brothers Coal Limited - India
- Jindal Steel & Power Ltd - India
- Central Java Power - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- South Luzon Thermal Energy Corporation
- Indogreen Group - Indonesia
- GAC Shipping (India) Pvt Ltd
- Gujarat Sidhee Cement - India
- Kobexindo Tractors - Indoneisa
- Posco Energy - South Korea
- Alfred C Toepfer International GmbH - Germany
- Straits Asia Resources Limited - Singapore
- Rashtriya Ispat Nigam Limited - India
- Global Green Power PLC Corporation, Philippines
- Dalmia Cement Bharat India
- Australian Coal Association
- Cigading International Bulk Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Grasim Industreis Ltd - India
- Uttam Galva Steels Limited - India
- Sarangani Energy Corporation, Philippines
- Deloitte Consulting - India
- Ceylon Electricity Board - Sri Lanka
- Antam Resourcindo - Indonesia
- Australian Commodity Traders Exchange
- Rio Tinto Coal - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- India Bulls Power Limited - India
- Power Finance Corporation Ltd., India
- Mjunction Services Limited - India
- ASAPP Information Group - India
- Billiton Holdings Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Star Paper Mills Limited - India
- Romanian Commodities Exchange
- Trasteel International SA, Italy
- Coalindo Energy - Indonesia
- SMG Consultants - Indonesia
- Leighton Contractors Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- The State Trading Corporation of India Ltd
- Eastern Coal Council - USA
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Finance - Indonesia
- Baramulti Group, Indonesia
- Electricity Generating Authority of Thailand
- Attock Cement Pakistan Limited
- Kartika Selabumi Mining - Indonesia
- Singapore Mercantile Exchange
- Medco Energi Mining Internasional
- Kumho Petrochemical, South Korea
- PetroVietnam Power Coal Import and Supply Company
- Minerals Council of Australia
- Larsen & Toubro Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Global Business Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Manunggal Multi Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- LBH Netherlands Bv - Netherlands
- GVK Power & Infra Limited - India
- Commonwealth Bank - Australia
- Ind-Barath Power Infra Limited - India
- Indian Oil Corporation Limited
- Malabar Cements Ltd - India
- Renaissance Capital - South Africa
- Merrill Lynch Commodities Europe
- Thai Mozambique Logistica
- McConnell Dowell - Australia
- Kepco SPC Power Corporation, Philippines
- Thiess Contractors Indonesia
- Intertek Mineral Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Mines - Canada
- Simpson Spence & Young - Indonesia
- Indian Energy Exchange, India
- Ambuja Cements Ltd - India
- VISA Power Limited - India
- Indonesian Coal Mining Association
- Energy Development Corp, Philippines
- Orica Australia Pty. Ltd.
- Borneo Indobara - Indonesia
- Aditya Birla Group - India
- SMC Global Power, Philippines
- Samtan Co., Ltd - South Korea
- Holcim Trading Pte Ltd - Singapore
- Standard Chartered Bank - UAE
- Latin American Coal - Colombia
- Kapuas Tunggal Persada - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sakthi Sugars Limited - India
- Tata Chemicals Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kideco Jaya Agung - Indonesia
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