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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, 10 November 14
Q4' 15 FOB INDONESIA COAL SWAP CLOSED LOWER THAN Q1' 15 CLOSING PRICE OF US$ 49.58 ON LAST FRIDAY
COALspot.com: Indonesian coal swaps for delivery Q1' 2015 lost month on month, week on week and day on day.
The Q1 swap has lost just US$ ...
Monday, 10 November 14
SGX'S API 4 FOB RICHARDS BAY COAL SWAP FOR Q1' 2015 DELIVERY CLOSED AT US$ 65.44 ON 7 NOV, LOST 4.08% M-O-M
COALspot.com: API 4 FOB Richards Bay Coal swap for Q1’ 2015 delivery has decreased US$ 2.78 (-4.08%) month over month and US$ 1.41 (-2.11%) w ...
Monday, 10 November 14
MOZAMBIQUE SIGNED CONTRACT WITH ETA STAR OF UAE FOR OPEN CAST COAL MINE IN TETE - AIM
- ETA Star to build slurry pipeline over the 600 kilometers to Beira in Mozambique to transport coal.
- The viability studies show the presence o ...
Monday, 10 November 14
YEAR 2015 CFR SOUTH CHINA COAL SWAP SHOWS A WEAK TREND THIS PAST WEEK
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2015 delivery has decreased US$ 3.74 (-5.63%) month over month and US$ 2.19 (+3.37%) we ...
Sunday, 09 November 14
CAPE INDEX UP 3.06%; PANAMAX INDEX FELL 4.05%
COALspot.com: The BDI was almost at same levels compared to last week closing or just increased 0.77 pct from last week. The BDI was closed at 1437 ...
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thai Mozambique Logistica
- Thiess Contractors Indonesia
- SMC Global Power, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Central Electricity Authority - India
- Minerals Council of Australia
- OPG Power Generation Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Meenaskhi Energy Private Limited - India
- Salva Resources Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Jaiprakash Power Ventures ltd
- AsiaOL BioFuels Corp., Philippines
- Sojitz Corporation - Japan
- Rio Tinto Coal - Australia
- Ambuja Cements Ltd - India
- Larsen & Toubro Limited - India
- Kartika Selabumi Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Vizag Seaport Private Limited - India
- Therma Luzon, Inc, Philippines
- Kideco Jaya Agung - Indonesia
- White Energy Company Limited
- Banpu Public Company Limited - Thailand
- Parry Sugars Refinery, India
- Australian Commodity Traders Exchange
- International Coal Ventures Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Edison Trading Spa - Italy
- San Jose City I Power Corp, Philippines
- Trasteel International SA, Italy
- LBH Netherlands Bv - Netherlands
- The University of Queensland
- London Commodity Brokers - England
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parliament of New Zealand
- Mintek Dendrill Indonesia
- SN Aboitiz Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Economic Council, Georgia
- Independent Power Producers Association of India
- Energy Development Corp, Philippines
- Coastal Gujarat Power Limited - India
- Sakthi Sugars Limited - India
- Iligan Light & Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Metalloyd Limited - United Kingdom
- Bhushan Steel Limited - India
- Timah Investasi Mineral - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Uttam Galva Steels Limited - India
- The Treasury - Australian Government
- Planning Commission, India
- Commonwealth Bank - Australia
- PNOC Exploration Corporation - Philippines
- Ministry of Finance - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Sindya Power Generating Company Private Ltd
- Siam City Cement - Thailand
- Semirara Mining and Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Savvy Resources Ltd - HongKong
- Merrill Lynch Commodities Europe
- VISA Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- IEA Clean Coal Centre - UK
- Anglo American - United Kingdom
- Sree Jayajothi Cements Limited - India
- Sarangani Energy Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- McConnell Dowell - Australia
- GVK Power & Infra Limited - India
- Baramulti Group, Indonesia
- Manunggal Multi Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Mines - Canada
- Bhatia International Limited - India
- Mjunction Services Limited - India
- Mercator Lines Limited - India
- Bayan Resources Tbk. - Indonesia
- Wilmar Investment Holdings
- Kalimantan Lumbung Energi - Indonesia
- Electricity Authority, New Zealand
- Interocean Group of Companies - India
- Vedanta Resources Plc - India
- Vijayanagar Sugar Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Indogreen Group - Indonesia
- Bharathi Cement Corporation - India
- Malabar Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Georgia Ports Authority, United States
- TNB Fuel Sdn Bhd - Malaysia
- Makarim & Taira - Indonesia
- Coalindo Energy - Indonesia
- Heidelberg Cement - Germany
- Ceylon Electricity Board - Sri Lanka
- Aditya Birla Group - India
- GAC Shipping (India) Pvt Ltd
- Central Java Power - Indonesia
- Videocon Industries ltd - India
- PTC India Limited - India
- Miang Besar Coal Terminal - Indonesia
- Meralco Power Generation, Philippines
- Siam City Cement PLC, Thailand
- Tata Chemicals Ltd - India
- Latin American Coal - Colombia
- Global Coal Blending Company Limited - Australia
- New Zealand Coal & Carbon
- European Bulk Services B.V. - Netherlands
- Chamber of Mines of South Africa
- GMR Energy Limited - India
- Kepco SPC Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Deloitte Consulting - India
- Attock Cement Pakistan Limited
- Altura Mining Limited, Indonesia
- Electricity Generating Authority of Thailand
- Goldman Sachs - Singapore
- Globalindo Alam Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Power Finance Corporation Ltd., India
- Kaltim Prima Coal - Indonesia
- Eastern Coal Council - USA
- Indian Energy Exchange, India
- Coal and Oil Company - UAE
- Antam Resourcindo - Indonesia
- PowerSource Philippines DevCo
- Gujarat Sidhee Cement - India
- ASAPP Information Group - India
- Energy Link Ltd, New Zealand
- Cement Manufacturers Association - India
- India Bulls Power Limited - India
- Bhoruka Overseas - Indonesia
- Intertek Mineral Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Simpson Spence & Young - Indonesia
- Mercuria Energy - Indonesia
- CNBM International Corporation - China
- Tamil Nadu electricity Board
- Borneo Indobara - Indonesia
- Bangladesh Power Developement Board
- Wood Mackenzie - Singapore
- Indian Oil Corporation Limited
- Leighton Contractors Pty Ltd - Australia
- Lanco Infratech Ltd - India
- Romanian Commodities Exchange
- ICICI Bank Limited - India
- Port Waratah Coal Services - Australia
- MS Steel International - UAE
- Australian Coal Association
- Renaissance Capital - South Africa
- Carbofer General Trading SA - India
- Dalmia Cement Bharat India
- Semirara Mining Corp, Philippines
- Standard Chartered Bank - UAE
- Indonesian Coal Mining Association
- Formosa Plastics Group - Taiwan
- Petron Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Eastern Energy - Thailand
- Marubeni Corporation - India
- Rashtriya Ispat Nigam Limited - India
- Medco Energi Mining Internasional
- Bukit Makmur.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- SMG Consultants - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Star Paper Mills Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Mining Services - Indonesia
- Ministry of Transport, Egypt
- Oldendorff Carriers - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Jindal Steel & Power Ltd - India
- Xindia Steels Limited - India
- Bulk Trading Sa - Switzerland
- Ind-Barath Power Infra Limited - India
- The State Trading Corporation of India Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Baiduri Energy - Indonesia
- Indika Energy - Indonesia
- Posco Energy - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Africa Commodities Group - South Africa
- CIMB Investment Bank - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Straits Asia Resources Limited - Singapore
- IHS Mccloskey Coal Group - USA
- Binh Thuan Hamico - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Directorate Of Revenue Intelligence - India
- Toyota Tsusho Corporation, Japan
- Sical Logistics Limited - India
- Kobexindo Tractors - Indoneisa
- Agrawal Coal Company - India
- Grasim Industreis Ltd - India
- Singapore Mercantile Exchange
- PetroVietnam Power Coal Import and Supply Company
- Barasentosa Lestari - Indonesia
- Price Waterhouse Coopers - Russia
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