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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, 30 December 14
U.S WEEKLY COAL PRODUCTION ALMOST FLAT AT -0.2%
COALspot.com – United States the world's one of the largest coal producers, produced approximately 19.8 million short tons (mmst) of coal ...
Monday, 29 December 14
CHINESE COAL IMPORTS: REGULATORY RISKS? - CLARKSONS
In recent years, Chinese seaborne coal imports have surged, registering average growth of 67% p.a. between 2009 and 2013 to total 265mt. However, t ...
Monday, 29 December 14
BULK MARKET ENDS YEAR ON SOUR NOTE, SHIPBROKER SEES 'BUMPY ROAD AHEAD' - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
2014 was supposed to be the year that the dry bulk market would stage a comeback and a sustainable one for that matter. However, while for the most ...
Monday, 29 December 14
Q1'15 CFR SOUTH CHINA COAL SWAP CLOSED AT $59.42
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2015 delivery has decreased by US$ 3.51 (-5.58%) month over month and US$ 0.08 (-0.13%) ...
Monday, 29 December 14
SGX'S FOB NEWCASTLE COAL SWAPS IMPROVED W-O-W, LOST M-O-M
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2015 delivery lost US$ 1.44 per MT (-2.73%) month over month and gained US$ 0.36 (+0.71%) ...
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- Petron Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Therma Luzon, Inc, Philippines
- Sakthi Sugars Limited - India
- Coal and Oil Company - UAE
- Aboitiz Power Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Global Coal Blending Company Limited - Australia
- Barasentosa Lestari - Indonesia
- Central Java Power - Indonesia
- Sical Logistics Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Coastal Gujarat Power Limited - India
- PowerSource Philippines DevCo
- ICICI Bank Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- South Luzon Thermal Energy Corporation
- Indogreen Group - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Mines - Canada
- Krishnapatnam Port Company Ltd. - India
- Kohat Cement Company Ltd. - Pakistan
- Global Green Power PLC Corporation, Philippines
- Chamber of Mines of South Africa
- Posco Energy - South Korea
- IHS Mccloskey Coal Group - USA
- PNOC Exploration Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Planning Commission, India
- Electricity Generating Authority of Thailand
- Singapore Mercantile Exchange
- Australian Commodity Traders Exchange
- Star Paper Mills Limited - India
- Mercator Lines Limited - India
- Latin American Coal - Colombia
- Parliament of New Zealand
- McConnell Dowell - Australia
- Madhucon Powers Ltd - India
- Sree Jayajothi Cements Limited - India
- Essar Steel Hazira Ltd - India
- Commonwealth Bank - Australia
- Electricity Authority, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- The State Trading Corporation of India Ltd
- Intertek Mineral Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Videocon Industries ltd - India
- Thiess Contractors Indonesia
- Kideco Jaya Agung - Indonesia
- Aditya Birla Group - India
- OPG Power Generation Pvt Ltd - India
- Vedanta Resources Plc - India
- Trasteel International SA, Italy
- Karbindo Abesyapradhi - Indoneisa
- Energy Development Corp, Philippines
- Bhoruka Overseas - Indonesia
- Australian Coal Association
- CIMB Investment Bank - Malaysia
- Formosa Plastics Group - Taiwan
- Bukit Baiduri Energy - Indonesia
- Mjunction Services Limited - India
- TeaM Sual Corporation - Philippines
- Sojitz Corporation - Japan
- Energy Link Ltd, New Zealand
- Maheswari Brothers Coal Limited - India
- Semirara Mining Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- Holcim Trading Pte Ltd - Singapore
- GMR Energy Limited - India
- The Treasury - Australian Government
- Mintek Dendrill Indonesia
- Bulk Trading Sa - Switzerland
- Uttam Galva Steels Limited - India
- Vizag Seaport Private Limited - India
- Malabar Cements Ltd - India
- Meralco Power Generation, Philippines
- San Jose City I Power Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement PLC, Thailand
- Kaltim Prima Coal - Indonesia
- SMC Global Power, Philippines
- Kobexindo Tractors - Indoneisa
- Borneo Indobara - Indonesia
- VISA Power Limited - India
- Standard Chartered Bank - UAE
- Coalindo Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Manunggal Multi Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Tata Chemicals Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Makarim & Taira - Indonesia
- Power Finance Corporation Ltd., India
- Ministry of Transport, Egypt
- Kepco SPC Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Economic Council, Georgia
- PetroVietnam Power Coal Import and Supply Company
- Pendopo Energi Batubara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Gujarat Sidhee Cement - India
- GVK Power & Infra Limited - India
- Africa Commodities Group - South Africa
- Romanian Commodities Exchange
- Sarangani Energy Corporation, Philippines
- Wood Mackenzie - Singapore
- SN Aboitiz Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PTC India Limited - India
- Oldendorff Carriers - Singapore
- Indian Oil Corporation Limited
- Kapuas Tunggal Persada - Indonesia
- Independent Power Producers Association of India
- Interocean Group of Companies - India
- Bharathi Cement Corporation - India
- Samtan Co., Ltd - South Korea
- Karaikal Port Pvt Ltd - India
- Bhatia International Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Port Waratah Coal Services - Australia
- GAC Shipping (India) Pvt Ltd
- IEA Clean Coal Centre - UK
- Meenaskhi Energy Private Limited - India
- Indika Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Orica Mining Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ceylon Electricity Board - Sri Lanka
- Georgia Ports Authority, United States
- White Energy Company Limited
- Kartika Selabumi Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercuria Energy - Indonesia
- London Commodity Brokers - England
- Dalmia Cement Bharat India
- Iligan Light & Power Inc, Philippines
- CNBM International Corporation - China
- Bhushan Steel Limited - India
- Price Waterhouse Coopers - Russia
- Deloitte Consulting - India
- AsiaOL BioFuels Corp., Philippines
- Cement Manufacturers Association - India
- Alfred C Toepfer International GmbH - Germany
- Orica Australia Pty. Ltd.
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Energy - Thailand
- SMG Consultants - Indonesia
- Thai Mozambique Logistica
- The University of Queensland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- MS Steel International - UAE
- Merrill Lynch Commodities Europe
- Leighton Contractors Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Medco Energi Mining Internasional
- New Zealand Coal & Carbon
- Riau Bara Harum - Indonesia
- Simpson Spence & Young - Indonesia
- Binh Thuan Hamico - Vietnam
- Agrawal Coal Company - India
- Indonesian Coal Mining Association
- Global Business Power Corporation, Philippines
- Parry Sugars Refinery, India
- Wilmar Investment Holdings
- Bangladesh Power Developement Board
- Larsen & Toubro Limited - India
- Marubeni Corporation - India
- Directorate Of Revenue Intelligence - India
- Rashtriya Ispat Nigam Limited - India
- Edison Trading Spa - Italy
- Billiton Holdings Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement - Thailand
- Banpu Public Company Limited - Thailand
- Goldman Sachs - Singapore
- Tamil Nadu electricity Board
- Heidelberg Cement - Germany
- Maharashtra Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- India Bulls Power Limited - India
- Minerals Council of Australia
- Antam Resourcindo - Indonesia
- Rio Tinto Coal - Australia
- Ministry of Finance - Indonesia
- Altura Mining Limited, Indonesia
- Jindal Steel & Power Ltd - India
- Attock Cement Pakistan Limited
- Jorong Barutama Greston.PT - Indonesia
- Savvy Resources Ltd - HongKong
- Baramulti Group, Indonesia
- Grasim Industreis Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Eastern Coal Council - USA
- Carbofer General Trading SA - India
- International Coal Ventures Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- TNB Fuel Sdn Bhd - Malaysia
- ASAPP Information Group - India
- Central Electricity Authority - India
- Indian Energy Exchange, India
- Xindia Steels Limited - India
- Renaissance Capital - South Africa
- Lanco Infratech Ltd - India
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