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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, 05 December 14
CHINESE SPECIAL STEEL MAKERS' RISK PROFILES MORE RESILIENT - FITCH
Fitch Ratings says the risk profiles of Chinese makers of special steel, especially high-end products, are more like those of manufacturers and mor ...
Friday, 05 December 14
U.S. YEAR-TO-DATE COAL PRODUCTION REACHED AROUND 905 MMST - EIA
COALspot.com – United States the world's one of the largest coal producers, produced approximately 19 million short tons (mmst) of coal i ...
Thursday, 04 December 14
CAPE MARKET IS DEVELOPING FROM BAD TO WORSE
Handy
The Atlantic market has been pretty stable and balanced this week, Fearnleys AS says in its latest weekly report.
The broker furt ...
Thursday, 04 December 14
DRY BULK MARKET; ANOTHER DISAPPOINTING WEEK
COALspot.com: For those who have been hoping to see alignment of freight direction across the Dry Bulk market, this must have been another disappoi ...
Wednesday, 03 December 14
PROGRESSING SMELTER PROJECTS IN INDONESIA
Press Release: Indonesia’s ban on ‘raw mineral export’ that was designed to encouraging downstream investment in mineral processi ...
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- Sarangani Energy Corporation, Philippines
- Gujarat Sidhee Cement - India
- Banpu Public Company Limited - Thailand
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- TeaM Sual Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Thiess Contractors Indonesia
- Medco Energi Mining Internasional
- Metalloyd Limited - United Kingdom
- Bukit Baiduri Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Dalmia Cement Bharat India
- Trasteel International SA, Italy
- Minerals Council of Australia
- Binh Thuan Hamico - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Parry Sugars Refinery, India
- Directorate Of Revenue Intelligence - India
- Straits Asia Resources Limited - Singapore
- Altura Mining Limited, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Ambuja Cements Ltd - India
- Energy Development Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Eastern Coal Council - USA
- SMG Consultants - Indonesia
- Coalindo Energy - Indonesia
- Larsen & Toubro Limited - India
- Deloitte Consulting - India
- Pendopo Energi Batubara - Indonesia
- Petron Corporation, Philippines
- Siam City Cement PLC, Thailand
- AsiaOL BioFuels Corp., Philippines
- Kapuas Tunggal Persada - Indonesia
- Indika Energy - Indonesia
- CIMB Investment Bank - Malaysia
- White Energy Company Limited
- PowerSource Philippines DevCo
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- Posco Energy - South Korea
- Global Green Power PLC Corporation, Philippines
- Singapore Mercantile Exchange
- Rio Tinto Coal - Australia
- Tata Chemicals Ltd - India
- Australian Commodity Traders Exchange
- Indian Energy Exchange, India
- European Bulk Services B.V. - Netherlands
- Oldendorff Carriers - Singapore
- Rashtriya Ispat Nigam Limited - India
- Holcim Trading Pte Ltd - Singapore
- Electricity Authority, New Zealand
- Commonwealth Bank - Australia
- Kobexindo Tractors - Indoneisa
- Vizag Seaport Private Limited - India
- McConnell Dowell - Australia
- Parliament of New Zealand
- International Coal Ventures Pvt Ltd - India
- Mintek Dendrill Indonesia
- Planning Commission, India
- ASAPP Information Group - India
- Lanco Infratech Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Wood Mackenzie - Singapore
- Central Electricity Authority - India
- Meenaskhi Energy Private Limited - India
- Independent Power Producers Association of India
- Bhoruka Overseas - Indonesia
- Africa Commodities Group - South Africa
- Georgia Ports Authority, United States
- Thai Mozambique Logistica
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- Australian Coal Association
- Electricity Generating Authority of Thailand
- Aditya Birla Group - India
- Goldman Sachs - Singapore
- Samtan Co., Ltd - South Korea
- Bhatia International Limited - India
- Ministry of Finance - Indonesia
- PNOC Exploration Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Savvy Resources Ltd - HongKong
- Bukit Makmur.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Xindia Steels Limited - India
- India Bulls Power Limited - India
- Kumho Petrochemical, South Korea
- Videocon Industries ltd - India
- GVK Power & Infra Limited - India
- ICICI Bank Limited - India
- Semirara Mining and Power Corporation, Philippines
- Baramulti Group, Indonesia
- Kepco SPC Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Alfred C Toepfer International GmbH - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Indian Oil Corporation Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Anglo American - United Kingdom
- Semirara Mining Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Formosa Plastics Group - Taiwan
- The Treasury - Australian Government
- Miang Besar Coal Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- VISA Power Limited - India
- Interocean Group of Companies - India
- Petrochimia International Co. Ltd.- Taiwan
- Carbofer General Trading SA - India
- The University of Queensland
- Port Waratah Coal Services - Australia
- GMR Energy Limited - India
- Manunggal Multi Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- New Zealand Coal & Carbon
- Toyota Tsusho Corporation, Japan
- TNB Fuel Sdn Bhd - Malaysia
- Bayan Resources Tbk. - Indonesia
- Bhushan Steel Limited - India
- Power Finance Corporation Ltd., India
- Heidelberg Cement - Germany
- CNBM International Corporation - China
- Grasim Industreis Ltd - India
- Antam Resourcindo - Indonesia
- Chamber of Mines of South Africa
- Indonesian Coal Mining Association
- Jindal Steel & Power Ltd - India
- Latin American Coal - Colombia
- Billiton Holdings Pty Ltd - Australia
- Agrawal Coal Company - India
- Central Java Power - Indonesia
- Mjunction Services Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercuria Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- Intertek Mineral Services - Indonesia
- Simpson Spence & Young - Indonesia
- Meralco Power Generation, Philippines
- Sojitz Corporation - Japan
- Eastern Energy - Thailand
- IHS Mccloskey Coal Group - USA
- Renaissance Capital - South Africa
- London Commodity Brokers - England
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Mines - Canada
- Ministry of Transport, Egypt
- Sinarmas Energy and Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- Jaiprakash Power Ventures ltd
- OPG Power Generation Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Sical Logistics Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Romanian Commodities Exchange
- Indogreen Group - Indonesia
- Mercator Lines Limited - India
- Karaikal Port Pvt Ltd - India
- Tamil Nadu electricity Board
- Madhucon Powers Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- Economic Council, Georgia
- Bharathi Cement Corporation - India
- Vedanta Resources Plc - India
- Star Paper Mills Limited - India
- Krishnapatnam Port Company Ltd. - India
- Kohat Cement Company Ltd. - Pakistan
- Ceylon Electricity Board - Sri Lanka
- Coastal Gujarat Power Limited - India
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- Malabar Cements Ltd - India
- Essar Steel Hazira Ltd - India
- The State Trading Corporation of India Ltd
- Chettinad Cement Corporation Ltd - India
- Riau Bara Harum - Indonesia
- PTC India Limited - India
- Orica Mining Services - Indonesia
- Salva Resources Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Merrill Lynch Commodities Europe
- Coal and Oil Company - UAE
- MS Steel International - UAE
- Ind-Barath Power Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- South Luzon Thermal Energy Corporation
- Orica Australia Pty. Ltd.
- Maheswari Brothers Coal Limited - India
- IEA Clean Coal Centre - UK
- Makarim & Taira - Indonesia
- LBH Netherlands Bv - Netherlands
- Barasentosa Lestari - Indonesia
- SMC Global Power, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Borneo Indobara - Indonesia
- Bangladesh Power Developement Board
- Therma Luzon, Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Pipit Mutiara Jaya. PT, Indonesia
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- Global Business Power Corporation, Philippines
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- Asia Pacific Energy Resources Ventures Inc, Philippines
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- Wilmar Investment Holdings
- Edison Trading Spa - Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sakthi Sugars Limited - India
- Kaltim Prima Coal - Indonesia
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