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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, 16 December 14
THIS PRICE IS A STEAL - EVA TZIMA
COALspot.com: Despite concerns that the slowdown of the Chinese economy would affect imports of iron ore, it seems that this has not been the case ...
Tuesday, 16 December 14
FOB RICHARDS BAY COAL SWAP FOR Q2' 15 DELIVERY CLOSED AT US$ 65.60 PMT
COALspot.com: API 4 FOB Richards Bay Coal for delivery Q1' 2015 lost month on month.
The Q1 swap has lost US$ 0.18 (-0.27%) month on month ...
Tuesday, 16 December 14
SUB-BIT FOB INDONESIA COAL SWAP CONTINUES ITS FALL
COALspot.com: Indonesian coal swaps for delivery Q1' 2015 lost month on month, week over week and day on day.
The Q1 swap has lost US$ 1.7 ...
Monday, 15 December 14
WILL TANKERS BENEFIT FROM REEMERGENCE OF FLOATING STORAGE PLAYS? - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The tanker market has been seeing high freight rates for some time now, riding on the back of low oil prices, which are boosting demand from develo ...
Monday, 15 December 14
INDONESIAN COAL PRICE REFERENCE CRASHES THROUGH $65
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia revised down the coal bench mark price once again in December. HBA for t ...
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- Kalimantan Lumbung Energi - Indonesia
- Sojitz Corporation - Japan
- Altura Mining Limited, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Heidelberg Cement - Germany
- San Jose City I Power Corp, Philippines
- Interocean Group of Companies - India
- Kideco Jaya Agung - Indonesia
- Straits Asia Resources Limited - Singapore
- Timah Investasi Mineral - Indoneisa
- CNBM International Corporation - China
- Eastern Coal Council - USA
- PetroVietnam Power Coal Import and Supply Company
- Wilmar Investment Holdings
- Posco Energy - South Korea
- Tamil Nadu electricity Board
- Port Waratah Coal Services - Australia
- International Coal Ventures Pvt Ltd - India
- Global Business Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Mjunction Services Limited - India
- Semirara Mining Corp, Philippines
- Chamber of Mines of South Africa
- Meenaskhi Energy Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Karaikal Port Pvt Ltd - India
- Australian Coal Association
- Bukit Baiduri Energy - Indonesia
- ASAPP Information Group - India
- PNOC Exploration Corporation - Philippines
- Australian Commodity Traders Exchange
- SMG Consultants - Indonesia
- Riau Bara Harum - Indonesia
- Commonwealth Bank - Australia
- Chettinad Cement Corporation Ltd - India
- Siam City Cement - Thailand
- Agrawal Coal Company - India
- Georgia Ports Authority, United States
- New Zealand Coal & Carbon
- Coastal Gujarat Power Limited - India
- Carbofer General Trading SA - India
- Iligan Light & Power Inc, Philippines
- Africa Commodities Group - South Africa
- Star Paper Mills Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Baramulti Group, Indonesia
- Dalmia Cement Bharat India
- Sical Logistics Limited - India
- GMR Energy Limited - India
- Samtan Co., Ltd - South Korea
- ICICI Bank Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Binh Thuan Hamico - Vietnam
- Ambuja Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Aditya Birla Group - India
- India Bulls Power Limited - India
- Electricity Generating Authority of Thailand
- MS Steel International - UAE
- The Treasury - Australian Government
- AsiaOL BioFuels Corp., Philippines
- Gujarat Mineral Development Corp Ltd - India
- Bharathi Cement Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Gujarat Sidhee Cement - India
- Savvy Resources Ltd - HongKong
- Renaissance Capital - South Africa
- GVK Power & Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Makmur.PT - Indonesia
- Xindia Steels Limited - India
- Ministry of Transport, Egypt
- Energy Development Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- Pendopo Energi Batubara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Grasim Industreis Ltd - India
- Anglo American - United Kingdom
- Maheswari Brothers Coal Limited - India
- Electricity Authority, New Zealand
- Sree Jayajothi Cements Limited - India
- Kapuas Tunggal Persada - Indonesia
- Ministry of Finance - Indonesia
- VISA Power Limited - India
- Indogreen Group - Indonesia
- Sindya Power Generating Company Private Ltd
- Energy Link Ltd, New Zealand
- Videocon Industries ltd - India
- Bhushan Steel Limited - India
- The University of Queensland
- Bhatia International Limited - India
- OPG Power Generation Pvt Ltd - India
- Latin American Coal - Colombia
- Bulk Trading Sa - Switzerland
- Singapore Mercantile Exchange
- Directorate General of MIneral and Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Mercator Lines Limited - India
- Semirara Mining and Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Thai Mozambique Logistica
- Neyveli Lignite Corporation Ltd, - India
- Thiess Contractors Indonesia
- GAC Shipping (India) Pvt Ltd
- Orica Mining Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Romanian Commodities Exchange
- Independent Power Producers Association of India
- London Commodity Brokers - England
- Goldman Sachs - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Planning Commission, India
- Antam Resourcindo - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Bayan Resources Tbk. - Indonesia
- Oldendorff Carriers - Singapore
- McConnell Dowell - Australia
- SMC Global Power, Philippines
- Bangladesh Power Developement Board
- Salva Resources Pvt Ltd - India
- Deloitte Consulting - India
- Coal and Oil Company - UAE
- Mintek Dendrill Indonesia
- Bhoruka Overseas - Indonesia
- Eastern Energy - Thailand
- Alfred C Toepfer International GmbH - Germany
- Larsen & Toubro Limited - India
- Global Green Power PLC Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Medco Energi Mining Internasional
- PowerSource Philippines DevCo
- Therma Luzon, Inc, Philippines
- Trasteel International SA, Italy
- Holcim Trading Pte Ltd - Singapore
- Standard Chartered Bank - UAE
- Billiton Holdings Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Economic Council, Georgia
- Miang Besar Coal Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- PTC India Limited - India
- Kaltim Prima Coal - Indonesia
- Mercuria Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Malabar Cements Ltd - India
- Cement Manufacturers Association - India
- Minerals Council of Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Electricity Authority - India
- Essar Steel Hazira Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Intertek Mineral Services - Indonesia
- Indonesian Coal Mining Association
- Indo Tambangraya Megah - Indonesia
- Vizag Seaport Private Limited - India
- Attock Cement Pakistan Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Jindal Steel & Power Ltd - India
- Power Finance Corporation Ltd., India
- Rio Tinto Coal - Australia
- Indian Energy Exchange, India
- Kobexindo Tractors - Indoneisa
- Uttam Galva Steels Limited - India
- Sarangani Energy Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement PLC, Thailand
- Orica Australia Pty. Ltd.
- Wood Mackenzie - Singapore
- Jorong Barutama Greston.PT - Indonesia
- IEA Clean Coal Centre - UK
- Edison Trading Spa - Italy
- Jaiprakash Power Ventures ltd
- Borneo Indobara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Madhucon Powers Ltd - India
- Meralco Power Generation, Philippines
- Central Java Power - Indonesia
- Globalindo Alam Lestari - Indonesia
- Ministry of Mines - Canada
- Sakthi Sugars Limited - India
- Directorate Of Revenue Intelligence - India
- Manunggal Multi Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- White Energy Company Limited
- Coalindo Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Rashtriya Ispat Nigam Limited - India
- Kepco SPC Power Corporation, Philippines
- Parry Sugars Refinery, India
- South Luzon Thermal Energy Corporation
- Tata Chemicals Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Merrill Lynch Commodities Europe
- Marubeni Corporation - India
- Parliament of New Zealand
- Indian Oil Corporation Limited
- Makarim & Taira - Indonesia
- Price Waterhouse Coopers - Russia
- Vedanta Resources Plc - India
- Lanco Infratech Ltd - India
- Indika Energy - Indonesia
- Kumho Petrochemical, South Korea
- Sinarmas Energy and Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
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