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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, 23 December 14
SHIPOWNERS ARE FINALIZING MORE DEALS AS YEAR END COMES CLOSER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS WORLDWIDE
With the 2014 year just a few days before waving goodbye, shipowners are looking to close their pending deals in both the newbuilding and S&P m ...
Monday, 22 December 14
Q2'15 CFR SOUTH CHINA COAL SWAP CLOSED $ 0.30 LOWER THAN Q1'15 CLOSING
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2015 delivery has decreased by US$ 3.67 (-5.81%) month over month and US$ 0.35 (-0.58%) ...
Monday, 22 December 14
API 5 FOB NEWCASTLE COAL SWAPS ARE HEADING SOUTH
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2015 delivery lost US$ 1.71 per MT (-3.24%) and closed at US$ 51.02 on 19 December month ...
Sunday, 21 December 14
PANAMAX COAL FREIGHT FROM INDONESIA TO INDIA FALLS FURTHER
COALspot.com: The BDI continued its fall as cape index lost heavily week on week.
The BDI was down 6.95 percent week over week and closed at 8 ...
Friday, 19 December 14
HOW WILL LOWER BUNKER PRICES AFFECT THE SUBSTANTIAL OVERCAPACITY IN DRY BULK MARKET? - BIMCO
As bunker fuel costs have come down from USD 600 per tonnes to USD 330 per tonnes in the past 6 months, much talk about increased ship speed have s ...
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- Petron Corporation, Philippines
- Mercuria Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Medco Energi Mining Internasional
- Miang Besar Coal Terminal - Indonesia
- Tata Chemicals Ltd - India
- Carbofer General Trading SA - India
- Wood Mackenzie - Singapore
- Kumho Petrochemical, South Korea
- Central Java Power - Indonesia
- Jindal Steel & Power Ltd - India
- Barasentosa Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining Corp, Philippines
- Sakthi Sugars Limited - India
- PNOC Exploration Corporation - Philippines
- London Commodity Brokers - England
- Dalmia Cement Bharat India
- Meenaskhi Energy Private Limited - India
- Standard Chartered Bank - UAE
- Asmin Koalindo Tuhup - Indonesia
- Savvy Resources Ltd - HongKong
- Directorate General of MIneral and Coal - Indonesia
- SMC Global Power, Philippines
- PowerSource Philippines DevCo
- Videocon Industries ltd - India
- Mintek Dendrill Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Price Waterhouse Coopers - Russia
- Formosa Plastics Group - Taiwan
- GAC Shipping (India) Pvt Ltd
- Iligan Light & Power Inc, Philippines
- Coal and Oil Company - UAE
- AsiaOL BioFuels Corp., Philippines
- Tamil Nadu electricity Board
- Electricity Authority, New Zealand
- Grasim Industreis Ltd - India
- Siam City Cement PLC, Thailand
- Central Electricity Authority - India
- Electricity Generating Authority of Thailand
- Kobexindo Tractors - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Malabar Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- Meralco Power Generation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Sarangani Energy Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Therma Luzon, Inc, Philippines
- San Jose City I Power Corp, Philippines
- Thiess Contractors Indonesia
- Merrill Lynch Commodities Europe
- Samtan Co., Ltd - South Korea
- Edison Trading Spa - Italy
- The State Trading Corporation of India Ltd
- ASAPP Information Group - India
- Gujarat Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- VISA Power Limited - India
- Wilmar Investment Holdings
- European Bulk Services B.V. - Netherlands
- Bhatia International Limited - India
- Independent Power Producers Association of India
- Karbindo Abesyapradhi - Indoneisa
- Madhucon Powers Ltd - India
- Bharathi Cement Corporation - India
- Power Finance Corporation Ltd., India
- The University of Queensland
- Ministry of Transport, Egypt
- Heidelberg Cement - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Deloitte Consulting - India
- Banpu Public Company Limited - Thailand
- Salva Resources Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Krishnapatnam Port Company Ltd. - India
- LBH Netherlands Bv - Netherlands
- Pendopo Energi Batubara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Global Coal Blending Company Limited - Australia
- The Treasury - Australian Government
- Attock Cement Pakistan Limited
- Gujarat Sidhee Cement - India
- Orica Mining Services - Indonesia
- Planning Commission, India
- Eastern Energy - Thailand
- Bayan Resources Tbk. - Indonesia
- Binh Thuan Hamico - Vietnam
- Bhushan Steel Limited - India
- Timah Investasi Mineral - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Sree Jayajothi Cements Limited - India
- Maheswari Brothers Coal Limited - India
- Bhoruka Overseas - Indonesia
- Vedanta Resources Plc - India
- Africa Commodities Group - South Africa
- Australian Commodity Traders Exchange
- MS Steel International - UAE
- Romanian Commodities Exchange
- Indika Energy - Indonesia
- Posco Energy - South Korea
- Rio Tinto Coal - Australia
- Commonwealth Bank - Australia
- Billiton Holdings Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- SN Aboitiz Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Kaltim Prima Coal - Indonesia
- Oldendorff Carriers - Singapore
- Karaikal Port Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Makarim & Taira - Indonesia
- Aditya Birla Group - India
- Eastern Coal Council - USA
- Orica Australia Pty. Ltd.
- Coalindo Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- GMR Energy Limited - India
- Jaiprakash Power Ventures ltd
- Globalindo Alam Lestari - Indonesia
- Ministry of Finance - Indonesia
- Bukit Baiduri Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IHS Mccloskey Coal Group - USA
- McConnell Dowell - Australia
- Renaissance Capital - South Africa
- Chamber of Mines of South Africa
- Coastal Gujarat Power Limited - India
- Parry Sugars Refinery, India
- Siam City Cement - Thailand
- Leighton Contractors Pty Ltd - Australia
- Xindia Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- PTC India Limited - India
- Parliament of New Zealand
- Mercator Lines Limited - India
- Australian Coal Association
- Indian Energy Exchange, India
- Anglo American - United Kingdom
- TeaM Sual Corporation - Philippines
- Lanco Infratech Ltd - India
- Agrawal Coal Company - India
- Larsen & Toubro Limited - India
- Manunggal Multi Energi - Indonesia
- Altura Mining Limited, Indonesia
- New Zealand Coal & Carbon
- Indogreen Group - Indonesia
- Ceylon Electricity Board - Sri Lanka
- White Energy Company Limited
- Port Waratah Coal Services - Australia
- Uttam Galva Steels Limited - India
- Goldman Sachs - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Toyota Tsusho Corporation, Japan
- Energy Link Ltd, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Energy Development Corp, Philippines
- Star Paper Mills Limited - India
- Indonesian Coal Mining Association
- Cement Manufacturers Association - India
- Alfred C Toepfer International GmbH - Germany
- Thai Mozambique Logistica
- India Bulls Power Limited - India
- Sindya Power Generating Company Private Ltd
- PetroVietnam Power Coal Import and Supply Company
- Latin American Coal - Colombia
- IEA Clean Coal Centre - UK
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Borneo Indobara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Economic Council, Georgia
- ICICI Bank Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Business Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kartika Selabumi Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- OPG Power Generation Pvt Ltd - India
- Georgia Ports Authority, United States
- Minerals Council of Australia
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining and Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Trasteel International SA, Italy
- Sinarmas Energy and Mining - Indonesia
- Singapore Mercantile Exchange
- Mjunction Services Limited - India
- Baramulti Group, Indonesia
- Ministry of Mines - Canada
- Riau Bara Harum - Indonesia
- Vizag Seaport Private Limited - India
- Indian Oil Corporation Limited
- CIMB Investment Bank - Malaysia
- Sojitz Corporation - Japan
- CNBM International Corporation - China
- Marubeni Corporation - India
- Ambuja Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Kideco Jaya Agung - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Interocean Group of Companies - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Bangladesh Power Developement Board
- Intertek Mineral Services - Indonesia
- Aboitiz Power Corporation - Philippines
- GVK Power & Infra Limited - India
- Sical Logistics Limited - India
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