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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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Thursday, 01 January 15
FOB RICHARDS BAY COAL SWAPS CLOSED AT $63.47 PMT ON 26 DEC, SGX DATA SHOWS
COALspot.com: API 4 FOB Richards Bay Coal for delivery Q1' 2015 lost month on month and week over week.
The Q1 swap has lost US$ 3.37 (-4. ...
Wednesday, 31 December 14
COASTAL ENERGEN (C&O) COMMENCES 1ST UNIT OF 1200 MW POWER PLANT IN INDIA
COALspot.com: Coastal Energen, part of the Coal & Oil Group, announced last week the commissioning and commencement of power production at the ...
Wednesday, 31 December 14
SUB-BIT INDONESIA COAL Q2' 15 DELIVERY SWAP CLOSED 1.03% LOWER COMPARED TO AVERAGE Q1' 15 DELIVERY PRICE - SGX
COALspot.com: Indonesian coal swaps for delivery Q1' 2015 lost month on month and gained week over week.
The Q1 swap has lost US$ 1.35 (-2 ...
Tuesday, 30 December 14
SHIP PRICES KEEP ON FALLING, SALES COME EARLY FOR SHIP OWNERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Ship prices keep on falling on the back of low freight rates. According to the latest report from shipbroker Allied Shipbroking, January sales seem ...
Tuesday, 30 December 14
INDIA INC TO BENEFIT AS IMPORTED COAL PRICES SET TO FALL - RAHUL PRITHIANI
The Hindu: India‘s coal import volumes are set to rise by over 30 per cent over the next two years to 214 million tonnes in 2015-16, as domes ...
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- Manunggal Multi Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Deloitte Consulting - India
- ASAPP Information Group - India
- Indo Tambangraya Megah - Indonesia
- Malabar Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Singapore Mercantile Exchange
- Goldman Sachs - Singapore
- Vizag Seaport Private Limited - India
- Sree Jayajothi Cements Limited - India
- Renaissance Capital - South Africa
- Madhucon Powers Ltd - India
- Globalindo Alam Lestari - Indonesia
- Wilmar Investment Holdings
- South Luzon Thermal Energy Corporation
- Mercator Lines Limited - India
- Power Finance Corporation Ltd., India
- Cement Manufacturers Association - India
- Carbofer General Trading SA - India
- PowerSource Philippines DevCo
- Global Green Power PLC Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Vedanta Resources Plc - India
- Holcim Trading Pte Ltd - Singapore
- Bulk Trading Sa - Switzerland
- Thai Mozambique Logistica
- Chamber of Mines of South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mintek Dendrill Indonesia
- Riau Bara Harum - Indonesia
- Rashtriya Ispat Nigam Limited - India
- LBH Netherlands Bv - Netherlands
- Sical Logistics Limited - India
- Meralco Power Generation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Krishnapatnam Port Company Ltd. - India
- Global Business Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- GAC Shipping (India) Pvt Ltd
- Parliament of New Zealand
- IEA Clean Coal Centre - UK
- Ministry of Mines - Canada
- Price Waterhouse Coopers - Russia
- Central Java Power - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Trasteel International SA, Italy
- Kalimantan Lumbung Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Timah Investasi Mineral - Indoneisa
- Romanian Commodities Exchange
- Georgia Ports Authority, United States
- Videocon Industries ltd - India
- Dalmia Cement Bharat India
- Australian Commodity Traders Exchange
- Indian Energy Exchange, India
- SN Aboitiz Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Coalindo Energy - Indonesia
- Agrawal Coal Company - India
- SMG Consultants - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Central Electricity Authority - India
- Banpu Public Company Limited - Thailand
- Thiess Contractors Indonesia
- Chettinad Cement Corporation Ltd - India
- Oldendorff Carriers - Singapore
- Antam Resourcindo - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Development Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Aboitiz Power Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- India Bulls Power Limited - India
- Lanco Infratech Ltd - India
- Mercuria Energy - Indonesia
- Star Paper Mills Limited - India
- Sinarmas Energy and Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Ministry of Finance - Indonesia
- OPG Power Generation Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Toyota Tsusho Corporation, Japan
- Commonwealth Bank - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jaiprakash Power Ventures ltd
- Heidelberg Cement - Germany
- Aditya Birla Group - India
- Economic Council, Georgia
- Bangladesh Power Developement Board
- Larsen & Toubro Limited - India
- Karbindo Abesyapradhi - Indoneisa
- PTC India Limited - India
- Savvy Resources Ltd - HongKong
- Coastal Gujarat Power Limited - India
- Xindia Steels Limited - India
- San Jose City I Power Corp, Philippines
- ICICI Bank Limited - India
- London Commodity Brokers - England
- Indika Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Kartika Selabumi Mining - Indonesia
- Tamil Nadu electricity Board
- Electricity Authority, New Zealand
- Rio Tinto Coal - Australia
- Australian Coal Association
- Indian Oil Corporation Limited
- Borneo Indobara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Africa Commodities Group - South Africa
- Billiton Holdings Pty Ltd - Australia
- Ministry of Transport, Egypt
- Attock Cement Pakistan Limited
- Posco Energy - South Korea
- Bukit Makmur.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- Salva Resources Pvt Ltd - India
- Baramulti Group, Indonesia
- GMR Energy Limited - India
- Therma Luzon, Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Formosa Plastics Group - Taiwan
- Indogreen Group - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bharathi Cement Corporation - India
- Merrill Lynch Commodities Europe
- Directorate Of Revenue Intelligence - India
- Maharashtra Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Latin American Coal - Colombia
- Barasentosa Lestari - Indonesia
- Tata Chemicals Ltd - India
- PNOC Exploration Corporation - Philippines
- Siam City Cement - Thailand
- Wood Mackenzie - Singapore
- MS Steel International - UAE
- Parry Sugars Refinery, India
- Gujarat Sidhee Cement - India
- Orica Mining Services - Indonesia
- European Bulk Services B.V. - Netherlands
- CNBM International Corporation - China
- Essar Steel Hazira Ltd - India
- Metalloyd Limited - United Kingdom
- Petron Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- AsiaOL BioFuels Corp., Philippines
- Kapuas Tunggal Persada - Indonesia
- Uttam Galva Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Jindal Steel & Power Ltd - India
- Marubeni Corporation - India
- Simpson Spence & Young - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- The State Trading Corporation of India Ltd
- Binh Thuan Hamico - Vietnam
- Bhoruka Overseas - Indonesia
- Planning Commission, India
- SMC Global Power, Philippines
- Semirara Mining and Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Siam City Cement PLC, Thailand
- TeaM Sual Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- White Energy Company Limited
- IHS Mccloskey Coal Group - USA
- Ambuja Cements Ltd - India
- Makarim & Taira - Indonesia
- Port Waratah Coal Services - Australia
- Electricity Generating Authority of Thailand
- Mjunction Services Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- New Zealand Coal & Carbon
- Coal and Oil Company - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Anglo American - United Kingdom
- CIMB Investment Bank - Malaysia
- Kaltim Prima Coal - Indonesia
- Grasim Industreis Ltd - India
- Ceylon Electricity Board - Sri Lanka
- The University of Queensland
- Energy Link Ltd, New Zealand
- McConnell Dowell - Australia
- Straits Asia Resources Limited - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Karaikal Port Pvt Ltd - India
- Sakthi Sugars Limited - India
- Indonesian Coal Mining Association
- Bhatia International Limited - India
- Semirara Mining Corp, Philippines
- The Treasury - Australian Government
- VISA Power Limited - India
- Eastern Coal Council - USA
- Intertek Mineral Services - Indonesia
- Interocean Group of Companies - India
- Kumho Petrochemical, South Korea
- Samtan Co., Ltd - South Korea
- Edison Trading Spa - Italy
- Orica Australia Pty. Ltd.
- Eastern Energy - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Standard Chartered Bank - UAE
- Medco Energi Mining Internasional
- Sindya Power Generating Company Private Ltd
- GVK Power & Infra Limited - India
- Independent Power Producers Association of India
- Bhushan Steel Limited - India
- Minerals Council of Australia
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