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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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Monday, 05 January 15
FIVE ENERGY SURPRISES FOR 2015: THE POSSIBLE AND THE IMPROBABLE - KURT COBB
The coming year is likely to be as full of surprises in the field of energy as 2014 was. We just don't know which surprises! I am not predictin ...
Monday, 05 January 15
THE SHIPPING MARKET IN 2014 AND LOOKING FORWARD - BIMCO
2014 started with plenty of optimism for a considerably better global economy and an improved shipping market. Things turned out somewhat different ...
Monday, 05 January 15
API 5 FOB NEWCASTLE COAL SWAP FOR Q1'15 DELIVERY CLOSED US$ 0.45 HIGHER COMPARED TO Q2'15 CLOSING
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2015 delivery lost US$ 0.60 per MT (-1.15%) month over month and gained US$ 0.02 (+0.04%) ...
Sunday, 04 January 15
BALTIC DRY INDEX CONTINUES ITS DECLINE IN 2015
Wish you all a very Happy New Year 2015. The last report was dated 19th Dec 2014 and due to Christmas and new year holidays no reports were publish ...
Saturday, 03 January 15
U.S WEEKLY COAL PRODUCTION FELL 11.2% TO 17.6 MMST WEEK OVER WEEK - EIA
COALspot.com – United States the world's one of the largest coal producers, produced approximately 17.6 million short tons (mmst) of coal ...
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- Bukit Asam (Persero) Tbk - Indonesia
- Merrill Lynch Commodities Europe
- MS Steel International - UAE
- Kartika Selabumi Mining - Indonesia
- Ministry of Transport, Egypt
- Aditya Birla Group - India
- Essar Steel Hazira Ltd - India
- Indonesian Coal Mining Association
- Bhatia International Limited - India
- Ceylon Electricity Board - Sri Lanka
- Indian Energy Exchange, India
- Ambuja Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Larsen & Toubro Limited - India
- Petron Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Commonwealth Bank - Australia
- Chamber of Mines of South Africa
- Leighton Contractors Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- ICICI Bank Limited - India
- Miang Besar Coal Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Global Business Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Directorate General of MIneral and Coal - Indonesia
- Vedanta Resources Plc - India
- Gujarat Electricity Regulatory Commission - India
- Australian Coal Association
- Manunggal Multi Energi - Indonesia
- Metalloyd Limited - United Kingdom
- Singapore Mercantile Exchange
- Carbofer General Trading SA - India
- Xindia Steels Limited - India
- Therma Luzon, Inc, Philippines
- Deloitte Consulting - India
- Holcim Trading Pte Ltd - Singapore
- Salva Resources Pvt Ltd - India
- PowerSource Philippines DevCo
- Cigading International Bulk Terminal - Indonesia
- Dalmia Cement Bharat India
- Karbindo Abesyapradhi - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Lanco Infratech Ltd - India
- Indian Oil Corporation Limited
- Samtan Co., Ltd - South Korea
- Minerals Council of Australia
- PTC India Limited - India
- South Luzon Thermal Energy Corporation
- Goldman Sachs - Singapore
- Riau Bara Harum - Indonesia
- Price Waterhouse Coopers - Russia
- Globalindo Alam Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Bangladesh Power Developement Board
- VISA Power Limited - India
- Energy Development Corp, Philippines
- Renaissance Capital - South Africa
- Star Paper Mills Limited - India
- Kaltim Prima Coal - Indonesia
- Coalindo Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Bhushan Steel Limited - India
- Parry Sugars Refinery, India
- Asmin Koalindo Tuhup - Indonesia
- Wood Mackenzie - Singapore
- Savvy Resources Ltd - HongKong
- Independent Power Producers Association of India
- Directorate Of Revenue Intelligence - India
- Intertek Mineral Services - Indonesia
- IEA Clean Coal Centre - UK
- Ministry of Mines - Canada
- Anglo American - United Kingdom
- Formosa Plastics Group - Taiwan
- PNOC Exploration Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Sindya Power Generating Company Private Ltd
- OPG Power Generation Pvt Ltd - India
- Eastern Coal Council - USA
- Georgia Ports Authority, United States
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- The University of Queensland
- Rio Tinto Coal - Australia
- SMC Global Power, Philippines
- The Treasury - Australian Government
- Central Java Power - Indonesia
- Sical Logistics Limited - India
- Antam Resourcindo - Indonesia
- Orica Mining Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Global Coal Blending Company Limited - Australia
- Planning Commission, India
- Gujarat Sidhee Cement - India
- Posco Energy - South Korea
- Romanian Commodities Exchange
- PetroVietnam Power Coal Import and Supply Company
- London Commodity Brokers - England
- Thiess Contractors Indonesia
- Indika Energy - Indonesia
- McConnell Dowell - Australia
- Iligan Light & Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Marubeni Corporation - India
- Alfred C Toepfer International GmbH - Germany
- Mjunction Services Limited - India
- Kepco SPC Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- Videocon Industries ltd - India
- Kobexindo Tractors - Indoneisa
- Sree Jayajothi Cements Limited - India
- Jindal Steel & Power Ltd - India
- Electricity Generating Authority of Thailand
- Semirara Mining Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Aboitiz Power Corporation - Philippines
- Africa Commodities Group - South Africa
- Meenaskhi Energy Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Kumho Petrochemical, South Korea
- Madhucon Powers Ltd - India
- Bukit Baiduri Energy - Indonesia
- New Zealand Coal & Carbon
- Gujarat Mineral Development Corp Ltd - India
- The State Trading Corporation of India Ltd
- Ministry of Finance - Indonesia
- Global Green Power PLC Corporation, Philippines
- Jaiprakash Power Ventures ltd
- CNBM International Corporation - China
- Binh Thuan Hamico - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sarangani Energy Corporation, Philippines
- Electricity Authority, New Zealand
- LBH Netherlands Bv - Netherlands
- Power Finance Corporation Ltd., India
- SMG Consultants - Indonesia
- Medco Energi Mining Internasional
- CIMB Investment Bank - Malaysia
- Ind-Barath Power Infra Limited - India
- GVK Power & Infra Limited - India
- Borneo Indobara - Indonesia
- Port Waratah Coal Services - Australia
- Uttam Galva Steels Limited - India
- Interocean Group of Companies - India
- Bhoruka Overseas - Indonesia
- Oldendorff Carriers - Singapore
- Bukit Makmur.PT - Indonesia
- Wilmar Investment Holdings
- Indogreen Group - Indonesia
- Toyota Tsusho Corporation, Japan
- Agrawal Coal Company - India
- Siam City Cement - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Kideco Jaya Agung - Indonesia
- Simpson Spence & Young - Indonesia
- Attock Cement Pakistan Limited
- White Energy Company Limited
- IHS Mccloskey Coal Group - USA
- GMR Energy Limited - India
- Maheswari Brothers Coal Limited - India
- Central Electricity Authority - India
- Parliament of New Zealand
- Malabar Cements Ltd - India
- Vizag Seaport Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Pendopo Energi Batubara - Indonesia
- International Coal Ventures Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Indo Tambangraya Megah - Indonesia
- Makarim & Taira - Indonesia
- Eastern Energy - Thailand
- Banpu Public Company Limited - Thailand
- Standard Chartered Bank - UAE
- Cement Manufacturers Association - India
- Sinarmas Energy and Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Mercator Lines Limited - India
- TeaM Sual Corporation - Philippines
- Latin American Coal - Colombia
- Grasim Industreis Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Baramulti Group, Indonesia
- Barasentosa Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- Siam City Cement PLC, Thailand
- Australian Commodity Traders Exchange
- Trasteel International SA, Italy
- Tata Chemicals Ltd - India
- Bayan Resources Tbk. - Indonesia
- Sakthi Sugars Limited - India
- Economic Council, Georgia
- ASAPP Information Group - India
- SN Aboitiz Power Inc, Philippines
- Sojitz Corporation - Japan
- Meralco Power Generation, Philippines
- Heidelberg Cement - Germany
- Mintek Dendrill Indonesia
- Thai Mozambique Logistica
- GAC Shipping (India) Pvt Ltd
- Kalimantan Lumbung Energi - Indonesia
- Edison Trading Spa - Italy
- Tamil Nadu electricity Board
- AsiaOL BioFuels Corp., Philippines
- Karaikal Port Pvt Ltd - India
- Coal and Oil Company - UAE
- Bulk Trading Sa - Switzerland
- India Bulls Power Limited - India
- Straits Asia Resources Limited - Singapore
- European Bulk Services B.V. - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
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