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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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Wednesday, 10 December 14
SHIPPING MARKET INSIGHT - GEORGE ILIOPOULOS, INTERMODAL
COALspot.com: As 2014 is coming to an end, we look back to what has happened during the year and notice that SnP activity has been particularly sof ...
Wednesday, 10 December 14
WORLD HARD COAL MARKET 2014: PRODUCTION AND TRADE STAGNATING, IMPORTS TO GERMANY AND EUROPE ON THE DECLINE
Press Release: German Coal Importers Association (VDKi) criticizes regulations ordering reduction of CO2 emissions from coal-fired power plants as ...
Tuesday, 09 December 14
PRESSURE ON CHINA COAL MINERS TO CONTINUE DESPITE GOVERNMENT SUPPORT - FITCH
COALspot.com: Fitch Ratings says that Chinese coal mining companies will continue to be pressured by low prices, which will persist despite recent ...
Tuesday, 09 December 14
Q4' 2015, FOB INDONESIA COAL SWAP CLOSED AT $ 49.02 W/E 5 DEC
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$ 0.2 ...
Tuesday, 09 December 14
API 8 CFR SOUTH CHINA COAL SWAPS FELL 1.8% MONTH OVER MONTH
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2015 delivery has decreased US$ 1.84 (-2.91%) month over month and US$ 0.95 (-1.52%) we ...
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- Rashtriya Ispat Nigam Limited - India
- Simpson Spence & Young - Indonesia
- Latin American Coal - Colombia
- Jaiprakash Power Ventures ltd
- Intertek Mineral Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement PLC, Thailand
- Petron Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Bulk Trading Sa - Switzerland
- Makarim & Taira - Indonesia
- ASAPP Information Group - India
- Maharashtra Electricity Regulatory Commission - India
- Minerals Council of Australia
- Krishnapatnam Port Company Ltd. - India
- Electricity Authority, New Zealand
- Eastern Coal Council - USA
- PNOC Exploration Corporation - Philippines
- Star Paper Mills Limited - India
- Wilmar Investment Holdings
- Toyota Tsusho Corporation, Japan
- Bukit Baiduri Energy - Indonesia
- New Zealand Coal & Carbon
- Jindal Steel & Power Ltd - India
- Sakthi Sugars Limited - India
- Australian Commodity Traders Exchange
- Anglo American - United Kingdom
- Malabar Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Bhushan Steel Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Independent Power Producers Association of India
- SMG Consultants - Indonesia
- Rio Tinto Coal - Australia
- Singapore Mercantile Exchange
- San Jose City I Power Corp, Philippines
- Power Finance Corporation Ltd., India
- MS Steel International - UAE
- Bharathi Cement Corporation - India
- Dalmia Cement Bharat India
- Mintek Dendrill Indonesia
- The State Trading Corporation of India Ltd
- TeaM Sual Corporation - Philippines
- Interocean Group of Companies - India
- Chettinad Cement Corporation Ltd - India
- Goldman Sachs - Singapore
- Cement Manufacturers Association - India
- VISA Power Limited - India
- Videocon Industries ltd - India
- Bangladesh Power Developement Board
- Bhoruka Overseas - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- London Commodity Brokers - England
- Mercator Lines Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- OPG Power Generation Pvt Ltd - India
- Aditya Birla Group - India
- Salva Resources Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Siam City Cement - Thailand
- Electricity Generating Authority of Thailand
- Medco Energi Mining Internasional
- Sarangani Energy Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- ICICI Bank Limited - India
- Merrill Lynch Commodities Europe
- International Coal Ventures Pvt Ltd - India
- Lanco Infratech Ltd - India
- Oldendorff Carriers - Singapore
- Iligan Light & Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Uttam Galva Steels Limited - India
- Trasteel International SA, Italy
- Thiess Contractors Indonesia
- PowerSource Philippines DevCo
- SMC Global Power, Philippines
- Orica Australia Pty. Ltd.
- Marubeni Corporation - India
- Coal and Oil Company - UAE
- Leighton Contractors Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Kartika Selabumi Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Petrochimia International Co. Ltd.- Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- Mercuria Energy - Indonesia
- CNBM International Corporation - China
- Kepco SPC Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Parliament of New Zealand
- Standard Chartered Bank - UAE
- Edison Trading Spa - Italy
- Binh Thuan Hamico - Vietnam
- The University of Queensland
- Directorate Of Revenue Intelligence - India
- White Energy Company Limited
- Meralco Power Generation, Philippines
- South Luzon Thermal Energy Corporation
- Coastal Gujarat Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- Kapuas Tunggal Persada - Indonesia
- Timah Investasi Mineral - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Price Waterhouse Coopers - Russia
- India Bulls Power Limited - India
- Indian Energy Exchange, India
- Vizag Seaport Private Limited - India
- Antam Resourcindo - Indonesia
- Indonesian Coal Mining Association
- Madhucon Powers Ltd - India
- Planning Commission, India
- Indogreen Group - Indonesia
- GAC Shipping (India) Pvt Ltd
- Miang Besar Coal Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Energy Link Ltd, New Zealand
- Tata Chemicals Ltd - India
- Riau Bara Harum - Indonesia
- Ministry of Finance - Indonesia
- Baramulti Group, Indonesia
- Mjunction Services Limited - India
- Sical Logistics Limited - India
- Billiton Holdings Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Semirara Mining Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Global Coal Blending Company Limited - Australia
- Holcim Trading Pte Ltd - Singapore
- Bukit Makmur.PT - Indonesia
- McConnell Dowell - Australia
- Australian Coal Association
- Xindia Steels Limited - India
- GMR Energy Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Formosa Plastics Group - Taiwan
- Alfred C Toepfer International GmbH - Germany
- Commonwealth Bank - Australia
- Ambuja Cements Ltd - India
- Kumho Petrochemical, South Korea
- Gujarat Mineral Development Corp Ltd - India
- Central Electricity Authority - India
- Kideco Jaya Agung - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Larsen & Toubro Limited - India
- Banpu Public Company Limited - Thailand
- Coalindo Energy - Indonesia
- Vedanta Resources Plc - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- AsiaOL BioFuels Corp., Philippines
- Therma Luzon, Inc, Philippines
- Tamil Nadu electricity Board
- Attock Cement Pakistan Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karaikal Port Pvt Ltd - India
- Africa Commodities Group - South Africa
- Bhatia International Limited - India
- Agrawal Coal Company - India
- Sojitz Corporation - Japan
- Indika Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Posco Energy - South Korea
- Romanian Commodities Exchange
- Orica Mining Services - Indonesia
- Meenaskhi Energy Private Limited - India
- CIMB Investment Bank - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Sidhee Cement - India
- Ministry of Mines - Canada
- Heidelberg Cement - Germany
- Borneo Indobara - Indonesia
- Economic Council, Georgia
- Ind-Barath Power Infra Limited - India
- The Treasury - Australian Government
- Kobexindo Tractors - Indoneisa
- Energy Development Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Georgia Ports Authority, United States
- Thai Mozambique Logistica
- Samtan Co., Ltd - South Korea
- PetroVietnam Power Coal Import and Supply Company
- Global Business Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Chamber of Mines of South Africa
- Deloitte Consulting - India
- Parry Sugars Refinery, India
- Ceylon Electricity Board - Sri Lanka
- Ministry of Transport, Egypt
- IHS Mccloskey Coal Group - USA
- PTC India Limited - India
- Indian Oil Corporation Limited
- Carbofer General Trading SA - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Energy - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Port Waratah Coal Services - Australia
- Straits Asia Resources Limited - Singapore
- Globalindo Alam Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Central Java Power - Indonesia
- Global Green Power PLC Corporation, Philippines
- GVK Power & Infra Limited - India
- Kaltim Prima Coal - Indonesia
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