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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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Friday, 26 December 14
SHIPS FACE LOWER SULPHUR FUEL REQUIREMENTS IN EMISSION CONTROL AREAS FROM 1 JANUARY 2015 - IMO
Ships trading in designated emission control areas will have to use on board fuel oil with a sulphur content of no more than 0.10% from 1 January 2 ...
Wednesday, 24 December 14
CAPE DEMAND WAS STILL EXTREMELY SOFT THIS PAST WEEK ACROSS BOTH BASINS - INTERMODAL
COALspot.com: The performance of the Dry Bulk market, which found itself in desperate search of support for yet another week, has left very little ...
Wednesday, 24 December 14
MARKET INSIGHT - JOHN N. COTZIAS, INTERMODAL SNP BROKER
The year is coming to an end, and we should be able to assess if this was a good year, a bad year, or even a lousy one? The answer clearly de ...
Tuesday, 23 December 14
Q1'15 FOB INDONESIA COAL SWAP GAINED 48 CENTS IN ONE WEEK
COALspot.com: Indonesian coal swaps for delivery Q1' 2015 lost month on month and gained week over week and day on day.
The Q1 swap has lo ...
Tuesday, 23 December 14
Q4'15 FOB RICHARDS BAY COAL SWAPS FALL $ 3.85 IN A MONTH
COALspot.com: API 4 FOB Richards Bay Coal for delivery Q1' 2015 lost month on month.
The Q1 swap has lost US$ 2.13 (-3.17%) month on month ...
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- Energy Link Ltd, New Zealand
- Minerals Council of Australia
- CIMB Investment Bank - Malaysia
- Anglo American - United Kingdom
- ASAPP Information Group - India
- Indian Oil Corporation Limited
- TNB Fuel Sdn Bhd - Malaysia
- Price Waterhouse Coopers - Russia
- London Commodity Brokers - England
- Malabar Cements Ltd - India
- Cement Manufacturers Association - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Independent Power Producers Association of India
- Videocon Industries ltd - India
- Globalindo Alam Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- Heidelberg Cement - Germany
- Aboitiz Power Corporation - Philippines
- Semirara Mining Corp, Philippines
- Energy Development Corp, Philippines
- Merrill Lynch Commodities Europe
- OPG Power Generation Pvt Ltd - India
- Indika Energy - Indonesia
- Bharathi Cement Corporation - India
- Indonesian Coal Mining Association
- Intertek Mineral Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Aditya Birla Group - India
- Alfred C Toepfer International GmbH - Germany
- Wilmar Investment Holdings
- Kalimantan Lumbung Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Power Finance Corporation Ltd., India
- Xindia Steels Limited - India
- Rio Tinto Coal - Australia
- Global Business Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Edison Trading Spa - Italy
- Thai Mozambique Logistica
- The Treasury - Australian Government
- Vijayanagar Sugar Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Banpu Public Company Limited - Thailand
- MS Steel International - UAE
- Singapore Mercantile Exchange
- Planning Commission, India
- Krishnapatnam Port Company Ltd. - India
- Maharashtra Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- The State Trading Corporation of India Ltd
- Renaissance Capital - South Africa
- Gujarat Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Electricity Generating Authority of Thailand
- Latin American Coal - Colombia
- Kapuas Tunggal Persada - Indonesia
- Kumho Petrochemical, South Korea
- IEA Clean Coal Centre - UK
- Manunggal Multi Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Trasteel International SA, Italy
- Commonwealth Bank - Australia
- Sojitz Corporation - Japan
- Maheswari Brothers Coal Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parry Sugars Refinery, India
- Central Electricity Authority - India
- European Bulk Services B.V. - Netherlands
- McConnell Dowell - Australia
- Bukit Baiduri Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Antam Resourcindo - Indonesia
- Vizag Seaport Private Limited - India
- Coalindo Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Asmin Koalindo Tuhup - Indonesia
- Cigading International Bulk Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- GMR Energy Limited - India
- IHS Mccloskey Coal Group - USA
- Carbofer General Trading SA - India
- Makarim & Taira - Indonesia
- Orica Mining Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Eastern Coal Council - USA
- Petron Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Therma Luzon, Inc, Philippines
- GVK Power & Infra Limited - India
- Parliament of New Zealand
- Rashtriya Ispat Nigam Limited - India
- Karaikal Port Pvt Ltd - India
- Interocean Group of Companies - India
- Bangladesh Power Developement Board
- PTC India Limited - India
- AsiaOL BioFuels Corp., Philippines
- Ambuja Cements Ltd - India
- Georgia Ports Authority, United States
- Bayan Resources Tbk. - Indonesia
- GAC Shipping (India) Pvt Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Borneo Indobara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Ministry of Mines - Canada
- Bhoruka Overseas - Indonesia
- Central Java Power - Indonesia
- Madhucon Powers Ltd - India
- Vedanta Resources Plc - India
- Dalmia Cement Bharat India
- Uttam Galva Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Australian Commodity Traders Exchange
- Jaiprakash Power Ventures ltd
- Global Green Power PLC Corporation, Philippines
- Ministry of Transport, Egypt
- Bhatia International Limited - India
- San Jose City I Power Corp, Philippines
- Indian Energy Exchange, India
- Marubeni Corporation - India
- Coal and Oil Company - UAE
- Mintek Dendrill Indonesia
- Essar Steel Hazira Ltd - India
- Africa Commodities Group - South Africa
- Kideco Jaya Agung - Indonesia
- Romanian Commodities Exchange
- Siam City Cement PLC, Thailand
- Gujarat Sidhee Cement - India
- Lanco Infratech Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Agrawal Coal Company - India
- Chamber of Mines of South Africa
- Larsen & Toubro Limited - India
- Bulk Trading Sa - Switzerland
- GN Power Mariveles Coal Plant, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Star Paper Mills Limited - India
- Sindya Power Generating Company Private Ltd
- Salva Resources Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Wood Mackenzie - Singapore
- Mjunction Services Limited - India
- Deloitte Consulting - India
- Standard Chartered Bank - UAE
- VISA Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- PowerSource Philippines DevCo
- Meenaskhi Energy Private Limited - India
- TeaM Sual Corporation - Philippines
- Economic Council, Georgia
- Timah Investasi Mineral - Indoneisa
- Sakthi Sugars Limited - India
- Mercuria Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Riau Bara Harum - Indonesia
- Metalloyd Limited - United Kingdom
- Binh Thuan Hamico - Vietnam
- Siam City Cement - Thailand
- Oldendorff Carriers - Singapore
- Sinarmas Energy and Mining - Indonesia
- Medco Energi Mining Internasional
- Sree Jayajothi Cements Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ind-Barath Power Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Tamil Nadu electricity Board
- South Luzon Thermal Energy Corporation
- Indo Tambangraya Megah - Indonesia
- PNOC Exploration Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- New Zealand Coal & Carbon
- India Bulls Power Limited - India
- Sical Logistics Limited - India
- White Energy Company Limited
- Ceylon Electricity Board - Sri Lanka
- Altura Mining Limited, Indonesia
- Savvy Resources Ltd - HongKong
- Eastern Energy - Thailand
- Indogreen Group - Indonesia
- Thiess Contractors Indonesia
- Baramulti Group, Indonesia
- Electricity Authority, New Zealand
- Jindal Steel & Power Ltd - India
- Port Waratah Coal Services - Australia
- Iligan Light & Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Mineral Development Corp Ltd - India
- Meralco Power Generation, Philippines
- International Coal Ventures Pvt Ltd - India
- The University of Queensland
- CNBM International Corporation - China
- Kaltim Prima Coal - Indonesia
- Attock Cement Pakistan Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMC Global Power, Philippines
- Grasim Industreis Ltd - India
- Simpson Spence & Young - Indonesia
- Goldman Sachs - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Coal Association
- Tata Chemicals Ltd - India
- Formosa Plastics Group - Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- Bhushan Steel Limited - India
- Toyota Tsusho Corporation, Japan
- Ministry of Finance - Indonesia
- ICICI Bank Limited - India
- Barasentosa Lestari - Indonesia
- Posco Energy - South Korea
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