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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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Thursday, 20 November 14
HANDY: INDO ROUNDS ARE BEING FIXED IN REGION OF US$ 10K - FEARNLEYS
Handy
In the Atlantic we have experienced firmer rates this week much lead by the grain activity out of USG. Vsls open in the USG can achieve in ...
Thursday, 20 November 14
DEMAND FOR DRY BULK CARRIERS INCREASES ON THE BACK OF HEIGHTENED FREIGHT RATE MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Ship owners are looking to take advantage of favorable market conditions through the acquisition of more dry bulk carriers. According to shipbroker ...
Wednesday, 19 November 14
INDONESIA FUEL-PRICE RISE A CLEAR, POSITIVE REFORM SIGNAL - FITCH
COALspot.com: Indonesia's hike of more than 30% in administered fuel prices, announced on 17 November, provides a clear, positive signal of the ...
Wednesday, 19 November 14
CAPES WERE UNDER PRESSURE; LOST 20% WITHIN A WEEK
COALspot.com: " The negative environment in which the week prior ended, marked this past week as well, which closed off on Friday noting the f ...
Wednesday, 19 November 14
SHIPPING MARKET INSIGHT - BY KATERINA RESTIS
The current Ebola outbreak in West Africa has been declared as a worldwide health emergency by the World Health Organization and has had a great im ...
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- Medco Energi Mining Internasional
- Thiess Contractors Indonesia
- Sinarmas Energy and Mining - Indonesia
- SMC Global Power, Philippines
- Global Green Power PLC Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Mines - Canada
- Mjunction Services Limited - India
- Coal and Oil Company - UAE
- Borneo Indobara - Indonesia
- Ministry of Transport, Egypt
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- VISA Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Xindia Steels Limited - India
- MS Steel International - UAE
- CIMB Investment Bank - Malaysia
- Carbofer General Trading SA - India
- ICICI Bank Limited - India
- Semirara Mining and Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Thai Mozambique Logistica
- Energy Development Corp, Philippines
- Savvy Resources Ltd - HongKong
- Sindya Power Generating Company Private Ltd
- Meenaskhi Energy Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Posco Energy - South Korea
- Electricity Generating Authority of Thailand
- Parry Sugars Refinery, India
- Global Business Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Kapuas Tunggal Persada - Indonesia
- Aditya Birla Group - India
- Alfred C Toepfer International GmbH - Germany
- Trasteel International SA, Italy
- Bharathi Cement Corporation - India
- GVK Power & Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- PowerSource Philippines DevCo
- Economic Council, Georgia
- Gujarat Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Kobexindo Tractors - Indoneisa
- The University of Queensland
- Jorong Barutama Greston.PT - Indonesia
- Anglo American - United Kingdom
- Sarangani Energy Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Maheswari Brothers Coal Limited - India
- Salva Resources Pvt Ltd - India
- McConnell Dowell - Australia
- Kalimantan Lumbung Energi - Indonesia
- Petron Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- White Energy Company Limited
- Metalloyd Limited - United Kingdom
- Minerals Council of Australia
- Romanian Commodities Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Straits Asia Resources Limited - Singapore
- Marubeni Corporation - India
- Banpu Public Company Limited - Thailand
- Interocean Group of Companies - India
- AsiaOL BioFuels Corp., Philippines
- Ind-Barath Power Infra Limited - India
- Orica Australia Pty. Ltd.
- SN Aboitiz Power Inc, Philippines
- Star Paper Mills Limited - India
- Karbindo Abesyapradhi - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Edison Trading Spa - Italy
- Ceylon Electricity Board - Sri Lanka
- Parliament of New Zealand
- Iligan Light & Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- GN Power Mariveles Coal Plant, Philippines
- Attock Cement Pakistan Limited
- Indika Energy - Indonesia
- Indonesian Coal Mining Association
- Orica Mining Services - Indonesia
- New Zealand Coal & Carbon
- Meralco Power Generation, Philippines
- Planning Commission, India
- Lanco Infratech Ltd - India
- Siam City Cement PLC, Thailand
- Standard Chartered Bank - UAE
- Globalindo Alam Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Power Finance Corporation Ltd., India
- Directorate Of Revenue Intelligence - India
- Bhoruka Overseas - Indonesia
- Therma Luzon, Inc, Philippines
- Africa Commodities Group - South Africa
- Eastern Energy - Thailand
- Coalindo Energy - Indonesia
- Baramulti Group, Indonesia
- London Commodity Brokers - England
- TNB Fuel Sdn Bhd - Malaysia
- Altura Mining Limited, Indonesia
- Goldman Sachs - Singapore
- GMR Energy Limited - India
- Mintek Dendrill Indonesia
- Vedanta Resources Plc - India
- Bhushan Steel Limited - India
- Timah Investasi Mineral - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining Corp, Philippines
- Videocon Industries ltd - India
- Chettinad Cement Corporation Ltd - India
- Antam Resourcindo - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Commodity Traders Exchange
- Cigading International Bulk Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Samtan Co., Ltd - South Korea
- OPG Power Generation Pvt Ltd - India
- Indian Energy Exchange, India
- Kohat Cement Company Ltd. - Pakistan
- Electricity Authority, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Karaikal Port Pvt Ltd - India
- Heidelberg Cement - Germany
- IHS Mccloskey Coal Group - USA
- Bahari Cakrawala Sebuku - Indonesia
- Intertek Mineral Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Sojitz Corporation - Japan
- Bhatia International Limited - India
- Madhucon Powers Ltd - India
- The Treasury - Australian Government
- Dalmia Cement Bharat India
- Independent Power Producers Association of India
- Price Waterhouse Coopers - Russia
- Ambuja Cements Ltd - India
- Central Java Power - Indonesia
- Australian Coal Association
- Indogreen Group - Indonesia
- Coastal Gujarat Power Limited - India
- PNOC Exploration Corporation - Philippines
- Sakthi Sugars Limited - India
- ASAPP Information Group - India
- Uttam Galva Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Eastern Coal Council - USA
- Barasentosa Lestari - Indonesia
- Bangladesh Power Developement Board
- Kumho Petrochemical, South Korea
- Jaiprakash Power Ventures ltd
- Singapore Mercantile Exchange
- Bukit Makmur.PT - Indonesia
- Port Waratah Coal Services - Australia
- Manunggal Multi Energi - Indonesia
- Cement Manufacturers Association - India
- India Bulls Power Limited - India
- Sree Jayajothi Cements Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Pendopo Energi Batubara - Indonesia
- Kaltim Prima Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Wilmar Investment Holdings
- Jindal Steel & Power Ltd - India
- Agrawal Coal Company - India
- Siam City Cement - Thailand
- Kartika Selabumi Mining - Indonesia
- Malabar Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- CNBM International Corporation - China
- Gujarat Sidhee Cement - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Latin American Coal - Colombia
- Rashtriya Ispat Nigam Limited - India
- SMG Consultants - Indonesia
- Commonwealth Bank - Australia
- Chamber of Mines of South Africa
- Global Coal Blending Company Limited - Australia
- Sical Logistics Limited - India
- Grasim Industreis Ltd - India
- Vizag Seaport Private Limited - India
- Essar Steel Hazira Ltd - India
- Georgia Ports Authority, United States
- Gujarat Mineral Development Corp Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Simpson Spence & Young - Indonesia
- Makarim & Taira - Indonesia
- IEA Clean Coal Centre - UK
- Indian Oil Corporation Limited
- Merrill Lynch Commodities Europe
- Larsen & Toubro Limited - India
- Riau Bara Harum - Indonesia
- European Bulk Services B.V. - Netherlands
- Tamil Nadu electricity Board
- Bukit Baiduri Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Ministry of Finance - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- South Luzon Thermal Energy Corporation
- Deloitte Consulting - India
- Energy Link Ltd, New Zealand
- TeaM Sual Corporation - Philippines
- Wood Mackenzie - Singapore
- Formosa Plastics Group - Taiwan
- Central Electricity Authority - India
- San Jose City I Power Corp, Philippines
- PTC India Limited - India
- Mercuria Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Rio Tinto Coal - Australia
- Mercator Lines Limited - India
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