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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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Monday, 15 December 14
CFR SOUTH CHINA COAL SWAP LOST $3.37 M-O-M
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2015 delivery has decreased by US$ 3,37 (-5.33%) month over month and US$ 1.58 (-2.57%) ...
Monday, 15 December 14
Q1' 15 FOB NEWCASTLE COAL SWAP CLOSED AT $ 51.45 ON 12 DEC
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2015 delivery lost US$ 1.45 per MT (-2.74%) closed at US$ 51.45 on 12 December month over ...
Sunday, 14 December 14
FREIGHT RATES ARE EXPECTED TO BE SOFT NEXT WEEK
COALspot.com: The Baltic Dry Index (BDI), a measure of commodity-shipping costs, fell 12.12 pct to 863 points week ending 12 December 2014.
Th ...
Friday, 12 December 14
LIMITED TRADING AND AN OVERSUPPLY OF TONNAGE PUSHED HANDY SIZE SHIPS TO DOWN IN USG
Handy
We have seen the TA spot market come down this week lead by limited trading and an oversupply of tonnage in the USG, Fearnleys said in its ...
Friday, 12 December 14
U.S WEEKLY COAL PRODUCTION UP 3.4% W/E DECEMBER 6
COALspot.com – United States the world's one of the largest coal producers, produced approximately 19.6 million short tons (mmst) of coal ...
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- Electricity Generating Authority of Thailand
- Bhoruka Overseas - Indonesia
- Directorate Of Revenue Intelligence - India
- Aditya Birla Group - India
- Iligan Light & Power Inc, Philippines
- Bharathi Cement Corporation - India
- SMC Global Power, Philippines
- Cement Manufacturers Association - India
- Sinarmas Energy and Mining - Indonesia
- New Zealand Coal & Carbon
- Uttam Galva Steels Limited - India
- Straits Asia Resources Limited - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Samtan Co., Ltd - South Korea
- Parliament of New Zealand
- PTC India Limited - India
- Coalindo Energy - Indonesia
- Port Waratah Coal Services - Australia
- PetroVietnam Power Coal Import and Supply Company
- Economic Council, Georgia
- Simpson Spence & Young - Indonesia
- Binh Thuan Hamico - Vietnam
- Essar Steel Hazira Ltd - India
- Parry Sugars Refinery, India
- Videocon Industries ltd - India
- Global Business Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Merrill Lynch Commodities Europe
- Siam City Cement PLC, Thailand
- Grasim Industreis Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Malabar Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- ICICI Bank Limited - India
- Mjunction Services Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Georgia Ports Authority, United States
- Global Coal Blending Company Limited - Australia
- Goldman Sachs - Singapore
- Chettinad Cement Corporation Ltd - India
- San Jose City I Power Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Latin American Coal - Colombia
- Savvy Resources Ltd - HongKong
- Orica Mining Services - Indonesia
- Agrawal Coal Company - India
- Independent Power Producers Association of India
- Kalimantan Lumbung Energi - Indonesia
- MS Steel International - UAE
- GMR Energy Limited - India
- Sojitz Corporation - Japan
- Bangladesh Power Developement Board
- Indian Oil Corporation Limited
- SMG Consultants - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Riau Bara Harum - Indonesia
- Intertek Mineral Services - Indonesia
- Coastal Gujarat Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Vizag Seaport Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Authority, New Zealand
- Carbofer General Trading SA - India
- Attock Cement Pakistan Limited
- Maheswari Brothers Coal Limited - India
- Sical Logistics Limited - India
- PowerSource Philippines DevCo
- Krishnapatnam Port Company Ltd. - India
- Ministry of Finance - Indonesia
- TeaM Sual Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Indonesian Coal Mining Association
- Xindia Steels Limited - India
- Sree Jayajothi Cements Limited - India
- South Luzon Thermal Energy Corporation
- Maharashtra Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CNBM International Corporation - China
- The Treasury - Australian Government
- Indian Energy Exchange, India
- International Coal Ventures Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Australian Coal Association
- Minerals Council of Australia
- Makarim & Taira - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Baramulti Group, Indonesia
- Oldendorff Carriers - Singapore
- Dalmia Cement Bharat India
- Rio Tinto Coal - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pipit Mutiara Jaya. PT, Indonesia
- Commonwealth Bank - Australia
- AsiaOL BioFuels Corp., Philippines
- Posco Energy - South Korea
- Kumho Petrochemical, South Korea
- Gujarat Sidhee Cement - India
- Meralco Power Generation, Philippines
- Eastern Energy - Thailand
- Sindya Power Generating Company Private Ltd
- Global Green Power PLC Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Mines - Canada
- Gujarat Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Energy Link Ltd, New Zealand
- Energy Development Corp, Philippines
- Salva Resources Pvt Ltd - India
- Coal and Oil Company - UAE
- Kartika Selabumi Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Semirara Mining and Power Corporation, Philippines
- Mercuria Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Standard Chartered Bank - UAE
- Directorate General of MIneral and Coal - Indonesia
- ASAPP Information Group - India
- Siam City Cement - Thailand
- Indogreen Group - Indonesia
- IHS Mccloskey Coal Group - USA
- Bhushan Steel Limited - India
- Formosa Plastics Group - Taiwan
- Singapore Mercantile Exchange
- The State Trading Corporation of India Ltd
- Power Finance Corporation Ltd., India
- Petron Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Thai Mozambique Logistica
- Madhucon Powers Ltd - India
- Kaltim Prima Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Price Waterhouse Coopers - Russia
- Cigading International Bulk Terminal - Indonesia
- Romanian Commodities Exchange
- Edison Trading Spa - Italy
- Central Electricity Authority - India
- Renaissance Capital - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Barasentosa Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Bayan Resources Tbk. - Indonesia
- Larsen & Toubro Limited - India
- Anglo American - United Kingdom
- Indika Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Ind-Barath Power Infra Limited - India
- Ministry of Transport, Egypt
- Timah Investasi Mineral - Indoneisa
- Deloitte Consulting - India
- Tata Chemicals Ltd - India
- Meenaskhi Energy Private Limited - India
- Wilmar Investment Holdings
- GVK Power & Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- Central Java Power - Indonesia
- Metalloyd Limited - United Kingdom
- Ambuja Cements Ltd - India
- Bhatia International Limited - India
- Planning Commission, India
- McConnell Dowell - Australia
- Therma Luzon, Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Chamber of Mines of South Africa
- Manunggal Multi Energi - Indonesia
- The University of Queensland
- Vedanta Resources Plc - India
- Leighton Contractors Pty Ltd - Australia
- Borneo Indobara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Africa Commodities Group - South Africa
- London Commodity Brokers - England
- India Bulls Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Orica Australia Pty. Ltd.
- Petrochimia International Co. Ltd.- Taiwan
- Australian Commodity Traders Exchange
- Trasteel International SA, Italy
- Sakthi Sugars Limited - India
- Antam Resourcindo - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Lanco Infratech Ltd - India
- Mercator Lines Limited - India
- Pendopo Energi Batubara - Indonesia
- Tamil Nadu electricity Board
- Thiess Contractors Indonesia
- VISA Power Limited - India
- Wood Mackenzie - Singapore
- Banpu Public Company Limited - Thailand
- Billiton Holdings Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Sarangani Energy Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Marubeni Corporation - India
- Star Paper Mills Limited - India
- Interocean Group of Companies - India
- Globalindo Alam Lestari - Indonesia
- Mintek Dendrill Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Altura Mining Limited, Indonesia
- Karaikal Port Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Coal Council - USA
- IEA Clean Coal Centre - UK
- White Energy Company Limited
- Medco Energi Mining Internasional
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