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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, 24 November 14
CHOPPY WATERS IN DRY BULK - SGX
COALspot.com: Dry bulk freight rates have experienced a sharp rise in volatility in recent weeks as bulk commodity supply has ramped up, said SGX i ...
Monday, 24 November 14
Q1 2015 FOB NEWCASTLE COAL SWAP CLOSED AT $ 52.73
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2015 delivery closed at US$ 52.73 on 21 November after losing US$ 0.40 (-0.75%) month ove ...
Monday, 24 November 14
CFR SOUTH CHINA COAL: Q2' 15 COAL SWAPS CLOSED LOWER COMPARED TO Q1' 15 SWAPS
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2015 delivery has decreased US$ 0.63 (-0.99%) month over month and US$ 0.12 (-0.19%) da ...
Sunday, 23 November 14
SPOT FREIGHT RATES IMPROVED SLIGHTLY OVER PREVIOUS WEEK
COALspot.com: The BDI was up 5.41 pct week on week and closed at 1,324 points on Friday. All the segments were up this week except Panamax index.&n ...
Sunday, 23 November 14
ITALY'S STEAM COAL IMPORTS TO DROP BY 11% IN 2014 - ASSOCARBONI
COALspot.com: Italy’s steam coal imports expected to drop to 16 million tons in 2014 (-11% compared to 2013); coking coal imports to plunge t ...
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Price Waterhouse Coopers - Russia
- Sakthi Sugars Limited - India
- Rio Tinto Coal - Australia
- Sical Logistics Limited - India
- Manunggal Multi Energi - Indonesia
- Latin American Coal - Colombia
- Mercuria Energy - Indonesia
- Economic Council, Georgia
- Pendopo Energi Batubara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TeaM Sual Corporation - Philippines
- Coal and Oil Company - UAE
- Georgia Ports Authority, United States
- Aditya Birla Group - India
- Kalimantan Lumbung Energi - Indonesia
- Vedanta Resources Plc - India
- Directorate Of Revenue Intelligence - India
- Therma Luzon, Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- India Bulls Power Limited - India
- Dalmia Cement Bharat India
- Orica Australia Pty. Ltd.
- Maheswari Brothers Coal Limited - India
- Larsen & Toubro Limited - India
- Central Electricity Authority - India
- Billiton Holdings Pty Ltd - Australia
- SMG Consultants - Indonesia
- Straits Asia Resources Limited - Singapore
- Minerals Council of Australia
- Vijayanagar Sugar Pvt Ltd - India
- Tamil Nadu electricity Board
- Indo Tambangraya Megah - Indonesia
- Bhushan Steel Limited - India
- Xindia Steels Limited - India
- Marubeni Corporation - India
- IHS Mccloskey Coal Group - USA
- Ministry of Mines - Canada
- San Jose City I Power Corp, Philippines
- Coalindo Energy - Indonesia
- Romanian Commodities Exchange
- Edison Trading Spa - Italy
- Mintek Dendrill Indonesia
- Barasentosa Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Alfred C Toepfer International GmbH - Germany
- Sinarmas Energy and Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Electricity Generating Authority of Thailand
- Banpu Public Company Limited - Thailand
- Oldendorff Carriers - Singapore
- Australian Commodity Traders Exchange
- Meenaskhi Energy Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate General of MIneral and Coal - Indonesia
- Petron Corporation, Philippines
- London Commodity Brokers - England
- Baramulti Group, Indonesia
- Ministry of Finance - Indonesia
- Thai Mozambique Logistica
- Sree Jayajothi Cements Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- Power Finance Corporation Ltd., India
- IEA Clean Coal Centre - UK
- Africa Commodities Group - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Indonesian Coal Mining Association
- Jindal Steel & Power Ltd - India
- Renaissance Capital - South Africa
- Sojitz Corporation - Japan
- Timah Investasi Mineral - Indoneisa
- Ministry of Transport, Egypt
- Interocean Group of Companies - India
- Kumho Petrochemical, South Korea
- Agrawal Coal Company - India
- Bayan Resources Tbk. - Indonesia
- Eastern Coal Council - USA
- New Zealand Coal & Carbon
- Bangladesh Power Developement Board
- Parliament of New Zealand
- Leighton Contractors Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Bulk Trading Sa - Switzerland
- Energy Development Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The Treasury - Australian Government
- Star Paper Mills Limited - India
- Kaltim Prima Coal - Indonesia
- Mercator Lines Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Wilmar Investment Holdings
- Attock Cement Pakistan Limited
- Samtan Co., Ltd - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Trasteel International SA, Italy
- Carbofer General Trading SA - India
- The University of Queensland
- Simpson Spence & Young - Indonesia
- Meralco Power Generation, Philippines
- Orica Mining Services - Indonesia
- Commonwealth Bank - Australia
- Chettinad Cement Corporation Ltd - India
- Eastern Energy - Thailand
- PTC India Limited - India
- Krishnapatnam Port Company Ltd. - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- Global Business Power Corporation, Philippines
- Indogreen Group - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Bhatia International Limited - India
- LBH Netherlands Bv - Netherlands
- The State Trading Corporation of India Ltd
- OPG Power Generation Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Formosa Plastics Group - Taiwan
- Petrochimia International Co. Ltd.- Taiwan
- AsiaOL BioFuels Corp., Philippines
- ASAPP Information Group - India
- Videocon Industries ltd - India
- Vizag Seaport Private Limited - India
- South Luzon Thermal Energy Corporation
- Grasim Industreis Ltd - India
- Bharathi Cement Corporation - India
- SN Aboitiz Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Iligan Light & Power Inc, Philippines
- Mjunction Services Limited - India
- SMC Global Power, Philippines
- Thiess Contractors Indonesia
- Anglo American - United Kingdom
- Posco Energy - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Riau Bara Harum - Indonesia
- CNBM International Corporation - China
- Miang Besar Coal Terminal - Indonesia
- Indian Oil Corporation Limited
- Cigading International Bulk Terminal - Indonesia
- MS Steel International - UAE
- Malabar Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Heidelberg Cement - Germany
- GMR Energy Limited - India
- Australian Coal Association
- Savvy Resources Ltd - HongKong
- Medco Energi Mining Internasional
- VISA Power Limited - India
- Lanco Infratech Ltd - India
- Wood Mackenzie - Singapore
- Globalindo Alam Lestari - Indonesia
- McConnell Dowell - Australia
- GVK Power & Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Sidhee Cement - India
- Kartika Selabumi Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- PNOC Exploration Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Central Java Power - Indonesia
- Rashtriya Ispat Nigam Limited - India
- CIMB Investment Bank - Malaysia
- Salva Resources Pvt Ltd - India
- Indian Energy Exchange, India
- Semirara Mining and Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Kepco SPC Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Jaiprakash Power Ventures ltd
- Sindya Power Generating Company Private Ltd
- Ambuja Cements Ltd - India
- Goldman Sachs - Singapore
- Kideco Jaya Agung - Indonesia
- Semirara Mining Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Independent Power Producers Association of India
- Siam City Cement PLC, Thailand
- Port Waratah Coal Services - Australia
- Deloitte Consulting - India
- Altura Mining Limited, Indonesia
- Energy Link Ltd, New Zealand
- Siam City Cement - Thailand
- White Energy Company Limited
- Ceylon Electricity Board - Sri Lanka
- Binh Thuan Hamico - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- Metalloyd Limited - United Kingdom
- Antam Resourcindo - Indonesia
- Borneo Indobara - Indonesia
- Planning Commission, India
- Madhucon Powers Ltd - India
- PowerSource Philippines DevCo
- Bukit Asam (Persero) Tbk - Indonesia
- Chamber of Mines of South Africa
- Intertek Mineral Services - Indonesia
- Uttam Galva Steels Limited - India
- Merrill Lynch Commodities Europe
- Toyota Tsusho Corporation, Japan
- ICICI Bank Limited - India
- Bhoruka Overseas - Indonesia
- Global Green Power PLC Corporation, Philippines
- Electricity Authority, New Zealand
- Bukit Makmur.PT - Indonesia
- Tata Chemicals Ltd - India
- Cement Manufacturers Association - India
- Indika Energy - Indonesia
- Makarim & Taira - Indonesia
- Singapore Mercantile Exchange
- Bahari Cakrawala Sebuku - Indonesia
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