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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, 03 December 14
SHIPPING MARKET INSIGHT - KONSTANTINOS KONTOMICHIS
The dry bulk market seems unable to turn sentiment round and is still looking for direction. The BCI's 887-point free fall last week had an obv ...
Wednesday, 03 December 14
CAPESIZE DRY BULK CARRIERS ENTER 2015 WITH MIXED FORTUNES, WITH A POSITIVE AND A NEGATIVE SCENARIO BOTH EMERGING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The future of the Capesize dry bulk market appears to be engulfed from mixed “feelings” among analysts and market participants, despite ...
Tuesday, 02 December 14
KEY PLAYERS SHED NEW PERSPECTIVES ON COAL MARKETS
Press Release: Singapore’s ONLY and longest established Coal Trade event. Whilst Coal prices remain challenging, there is widespread consensu ...
Tuesday, 02 December 14
KOMIPO INVITES BIDS FOR 585,000 METRIC TONS OF COAL FOR Q1'15
COALspot.com - Korea Midland Power Co. Ltd. (KOMIPO) is inviting bids for the supply of 585,000 Metric Tons of coal. According to invitation, 5700 ...
Tuesday, 02 December 14
U.S WEEKLY COAL PRODUCTION FELL 1.4% WEEK ON WEEK - EIA
COALspot.com – United States the world's one of the largest coal producers, produced approximately 18.6 million short tons (mmst) o ...
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- Global Coal Blending Company Limited - Australia
- Kohat Cement Company Ltd. - Pakistan
- Aboitiz Power Corporation - Philippines
- Commonwealth Bank - Australia
- Rio Tinto Coal - Australia
- GVK Power & Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karbindo Abesyapradhi - Indoneisa
- Samtan Co., Ltd - South Korea
- Sakthi Sugars Limited - India
- Ceylon Electricity Board - Sri Lanka
- McConnell Dowell - Australia
- Baramulti Group, Indonesia
- White Energy Company Limited
- Orica Australia Pty. Ltd.
- LBH Netherlands Bv - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- Deloitte Consulting - India
- Bukit Asam (Persero) Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Vizag Seaport Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- Chamber of Mines of South Africa
- Altura Mining Limited, Indonesia
- Straits Asia Resources Limited - Singapore
- Trasteel International SA, Italy
- Global Green Power PLC Corporation, Philippines
- PowerSource Philippines DevCo
- Parliament of New Zealand
- Ind-Barath Power Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The University of Queensland
- Binh Thuan Hamico - Vietnam
- Iligan Light & Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Alfred C Toepfer International GmbH - Germany
- Intertek Mineral Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- Borneo Indobara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Indo Tambangraya Megah - Indonesia
- Posco Energy - South Korea
- Bangladesh Power Developement Board
- Merrill Lynch Commodities Europe
- Georgia Ports Authority, United States
- European Bulk Services B.V. - Netherlands
- Jaiprakash Power Ventures ltd
- CIMB Investment Bank - Malaysia
- Australian Coal Association
- Directorate Of Revenue Intelligence - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sojitz Corporation - Japan
- Larsen & Toubro Limited - India
- Sree Jayajothi Cements Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Salva Resources Pvt Ltd - India
- IEA Clean Coal Centre - UK
- PTC India Limited - India
- Agrawal Coal Company - India
- Krishnapatnam Port Company Ltd. - India
- Energy Link Ltd, New Zealand
- Siam City Cement - Thailand
- Manunggal Multi Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Interocean Group of Companies - India
- The Treasury - Australian Government
- Semirara Mining Corp, Philippines
- Gujarat Sidhee Cement - India
- Medco Energi Mining Internasional
- Grasim Industreis Ltd - India
- Sical Logistics Limited - India
- Pendopo Energi Batubara - Indonesia
- Antam Resourcindo - Indonesia
- Mintek Dendrill Indonesia
- Global Business Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Mjunction Services Limited - India
- SN Aboitiz Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- India Bulls Power Limited - India
- Sarangani Energy Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Goldman Sachs - Singapore
- Rashtriya Ispat Nigam Limited - India
- Lanco Infratech Ltd - India
- OPG Power Generation Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- MS Steel International - UAE
- South Luzon Thermal Energy Corporation
- Dalmia Cement Bharat India
- GMR Energy Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Bhushan Steel Limited - India
- Petron Corporation, Philippines
- Thai Mozambique Logistica
- Indian Energy Exchange, India
- Ambuja Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Gujarat Mineral Development Corp Ltd - India
- Uttam Galva Steels Limited - India
- Carbofer General Trading SA - India
- Power Finance Corporation Ltd., India
- Miang Besar Coal Terminal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Standard Chartered Bank - UAE
- Bayan Resources Tbk. - Indonesia
- Mercator Lines Limited - India
- Kaltim Prima Coal - Indonesia
- Kumho Petrochemical, South Korea
- Port Waratah Coal Services - Australia
- Directorate General of MIneral and Coal - Indonesia
- Singapore Mercantile Exchange
- Eastern Energy - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Toyota Tsusho Corporation, Japan
- Cement Manufacturers Association - India
- Semirara Mining and Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Latin American Coal - Colombia
- Mercuria Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Orica Mining Services - Indonesia
- Indian Oil Corporation Limited
- Energy Development Corp, Philippines
- Makarim & Taira - Indonesia
- Aditya Birla Group - India
- Eastern Coal Council - USA
- Price Waterhouse Coopers - Russia
- Tata Chemicals Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Leighton Contractors Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- GAC Shipping (India) Pvt Ltd
- ICICI Bank Limited - India
- Heidelberg Cement - Germany
- Planning Commission, India
- ASAPP Information Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Malabar Cements Ltd - India
- Bhoruka Overseas - Indonesia
- London Commodity Brokers - England
- Electricity Authority, New Zealand
- International Coal Ventures Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Independent Power Producers Association of India
- Petrochimia International Co. Ltd.- Taiwan
- Riau Bara Harum - Indonesia
- Coalindo Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Kideco Jaya Agung - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Coal and Oil Company - UAE
- Minerals Council of Australia
- Parry Sugars Refinery, India
- Essar Steel Hazira Ltd - India
- Banpu Public Company Limited - Thailand
- Star Paper Mills Limited - India
- Barasentosa Lestari - Indonesia
- Wilmar Investment Holdings
- Anglo American - United Kingdom
- Indonesian Coal Mining Association
- Meralco Power Generation, Philippines
- Romanian Commodities Exchange
- Renaissance Capital - South Africa
- Indika Energy - Indonesia
- Wood Mackenzie - Singapore
- Attock Cement Pakistan Limited
- Simpson Spence & Young - Indonesia
- IHS Mccloskey Coal Group - USA
- Metalloyd Limited - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Xindia Steels Limited - India
- Central Electricity Authority - India
- Sinarmas Energy and Mining - Indonesia
- Marubeni Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- Thiess Contractors Indonesia
- Indogreen Group - Indonesia
- Vedanta Resources Plc - India
- Globalindo Alam Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Java Power - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhatia International Limited - India
- New Zealand Coal & Carbon
- Videocon Industries ltd - India
- Tamil Nadu electricity Board
- SMG Consultants - Indonesia
- Kobexindo Tractors - Indoneisa
- Siam City Cement PLC, Thailand
- Madhucon Powers Ltd - India
- Edison Trading Spa - Italy
- SMC Global Power, Philippines
- Jindal Steel & Power Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Bharathi Cement Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- VISA Power Limited - India
- Ministry of Transport, Egypt
- Ministry of Finance - Indonesia
- Sindya Power Generating Company Private Ltd
- Karaikal Port Pvt Ltd - India
- Oldendorff Carriers - Singapore
- CNBM International Corporation - China
- The State Trading Corporation of India Ltd
- Bukit Baiduri Energy - Indonesia
- Africa Commodities Group - South Africa
- Economic Council, Georgia
- PNOC Exploration Corporation - Philippines
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