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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, 19 December 14
U.S WEEKLY COAL PRODUCTION REACHED APPROXIMATELY 19.8 MMST; UP 1.0% WOW
COALspot.com – United States the world's one of the largest coal producers, produced approximately 19.8 million short tons (mmst) of coal ...
Friday, 19 December 14
HANDY: SOFTER TONE; PANAMAX: QUIET WEEK; CAPESIZE; PAINFUL WEEK
Handy
A softer tone for rates and volumes for the Supras, perhaps less apparent in the Pacific the last week before the season holidays and good ...
Thursday, 18 December 14
INDONESIA TO REVISE UP COAL OUTPUT TARGET TO 460 MILLION TONS IN 2015
COALspot.com: Indonesian government has revised up its next year coal output forecast to 460 million tons from its previous forecast of 421 million ...
Wednesday, 17 December 14
CAPES RATES SLIPPED BELOW $5,600/DAY, FELL 84% YOY
COALspot.com: In the very rare occurrence when the BCI stands below the BDI, words to describe market sentiment are probably poor, said Intermodal ...
Wednesday, 17 December 14
MARKET INSIGHT - INTERMODAL SHANGHAI, SNP TEAM
As the end of the fourth quarter is approaching, we are all witness to the second hand market prices softening day by day. Any new deal surfacing t ...
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- Indo Tambangraya Megah - Indonesia
- Bangladesh Power Developement Board
- Sojitz Corporation - Japan
- Indika Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Ambuja Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- Economic Council, Georgia
- Meralco Power Generation, Philippines
- Anglo American - United Kingdom
- Semirara Mining Corp, Philippines
- Indonesian Coal Mining Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Larsen & Toubro Limited - India
- Miang Besar Coal Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Mining Services - Indonesia
- Kumho Petrochemical, South Korea
- Indogreen Group - Indonesia
- Eastern Energy - Thailand
- Cement Manufacturers Association - India
- Mercator Lines Limited - India
- McConnell Dowell - Australia
- Videocon Industries ltd - India
- ICICI Bank Limited - India
- Ministry of Finance - Indonesia
- Thai Mozambique Logistica
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kobexindo Tractors - Indoneisa
- Renaissance Capital - South Africa
- GMR Energy Limited - India
- Kepco SPC Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Central Electricity Authority - India
- Electricity Authority, New Zealand
- Antam Resourcindo - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Mintek Dendrill Indonesia
- Grasim Industreis Ltd - India
- Coal and Oil Company - UAE
- Bharathi Cement Corporation - India
- Savvy Resources Ltd - HongKong
- Indian Oil Corporation Limited
- Madhucon Powers Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Energy Development Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- ASAPP Information Group - India
- Intertek Mineral Services - Indonesia
- The University of Queensland
- Kartika Selabumi Mining - Indonesia
- Electricity Generating Authority of Thailand
- Banpu Public Company Limited - Thailand
- Toyota Tsusho Corporation, Japan
- Baramulti Group, Indonesia
- Ministry of Transport, Egypt
- PTC India Limited - India
- PowerSource Philippines DevCo
- Bhatia International Limited - India
- The State Trading Corporation of India Ltd
- Dalmia Cement Bharat India
- Chettinad Cement Corporation Ltd - India
- Jindal Steel & Power Ltd - India
- MS Steel International - UAE
- Port Waratah Coal Services - Australia
- Directorate General of MIneral and Coal - Indonesia
- IEA Clean Coal Centre - UK
- Tata Chemicals Ltd - India
- Georgia Ports Authority, United States
- New Zealand Coal & Carbon
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Medco Energi Mining Internasional
- Malabar Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- Chamber of Mines of South Africa
- Coastal Gujarat Power Limited - India
- Singapore Mercantile Exchange
- Therma Luzon, Inc, Philippines
- Altura Mining Limited, Indonesia
- Petron Corporation, Philippines
- Gujarat Sidhee Cement - India
- Uttam Galva Steels Limited - India
- Borneo Indobara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Parliament of New Zealand
- Salva Resources Pvt Ltd - India
- Bhushan Steel Limited - India
- Standard Chartered Bank - UAE
- PetroVietnam Power Coal Import and Supply Company
- Price Waterhouse Coopers - Russia
- Australian Coal Association
- Carbofer General Trading SA - India
- Holcim Trading Pte Ltd - Singapore
- Mercuria Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Deloitte Consulting - India
- Independent Power Producers Association of India
- Vizag Seaport Private Limited - India
- Ministry of Mines - Canada
- Xindia Steels Limited - India
- Bukit Makmur.PT - Indonesia
- South Luzon Thermal Energy Corporation
- San Jose City I Power Corp, Philippines
- Tamil Nadu electricity Board
- Leighton Contractors Pty Ltd - Australia
- Rio Tinto Coal - Australia
- Wood Mackenzie - Singapore
- Alfred C Toepfer International GmbH - Germany
- Posco Energy - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Metalloyd Limited - United Kingdom
- Sarangani Energy Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Planning Commission, India
- LBH Netherlands Bv - Netherlands
- TeaM Sual Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- European Bulk Services B.V. - Netherlands
- Barasentosa Lestari - Indonesia
- Makarim & Taira - Indonesia
- Globalindo Alam Lestari - Indonesia
- Africa Commodities Group - South Africa
- Timah Investasi Mineral - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Latin American Coal - Colombia
- Petrochimia International Co. Ltd.- Taiwan
- India Bulls Power Limited - India
- Commonwealth Bank - Australia
- OPG Power Generation Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Sakthi Sugars Limited - India
- Ceylon Electricity Board - Sri Lanka
- Bhoruka Overseas - Indonesia
- Interocean Group of Companies - India
- Coalindo Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Goldman Sachs - Singapore
- Siam City Cement PLC, Thailand
- Karbindo Abesyapradhi - Indoneisa
- Thiess Contractors Indonesia
- Kideco Jaya Agung - Indonesia
- Romanian Commodities Exchange
- Minerals Council of Australia
- Oldendorff Carriers - Singapore
- Central Java Power - Indonesia
- Indian Energy Exchange, India
- Samtan Co., Ltd - South Korea
- Manunggal Multi Energi - Indonesia
- Australian Commodity Traders Exchange
- Aditya Birla Group - India
- Karaikal Port Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Sree Jayajothi Cements Limited - India
- Sical Logistics Limited - India
- Straits Asia Resources Limited - Singapore
- Power Finance Corporation Ltd., India
- London Commodity Brokers - England
- The Treasury - Australian Government
- International Coal Ventures Pvt Ltd - India
- Marubeni Corporation - India
- Agrawal Coal Company - India
- Essar Steel Hazira Ltd - India
- GAC Shipping (India) Pvt Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Iligan Light & Power Inc, Philippines
- SMC Global Power, Philippines
- Riau Bara Harum - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Parry Sugars Refinery, India
- Simpson Spence & Young - Indonesia
- Trasteel International SA, Italy
- SN Aboitiz Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Gujarat Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Eastern Coal Council - USA
- TNB Fuel Sdn Bhd - Malaysia
- Vedanta Resources Plc - India
- Heidelberg Cement - Germany
- Maheswari Brothers Coal Limited - India
- Edison Trading Spa - Italy
- Bahari Cakrawala Sebuku - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Merrill Lynch Commodities Europe
- Attock Cement Pakistan Limited
- Asmin Koalindo Tuhup - Indonesia
- SMG Consultants - Indonesia
- Wilmar Investment Holdings
- White Energy Company Limited
- Bulk Trading Sa - Switzerland
- Siam City Cement - Thailand
- Lanco Infratech Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Binh Thuan Hamico - Vietnam
- Jaiprakash Power Ventures ltd
- VISA Power Limited - India
- Aboitiz Power Corporation - Philippines
- CNBM International Corporation - China
- Neyveli Lignite Corporation Ltd, - India
- GVK Power & Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Star Paper Mills Limited - India
- Orica Australia Pty. Ltd.
- Sindya Power Generating Company Private Ltd
- Meenaskhi Energy Private Limited - India
- Mjunction Services Limited - India
- Kohat Cement Company Ltd. - Pakistan
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