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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, 31 October 14
BUKIT ASAM'S NET PROFIT ROSE 27.42% FOR THE PERIOD JANUARY - SEPTEMBER 2014
COALspot.com: Publicly listed coal miner Bukit Asam reported solid profits in the first nine months of 2014 year.
Coal miner Bukit Asam manage ...
Friday, 31 October 14
U.S PRODUCED AROUND 19.3 MMST OF COAL IN A WEEK
COALspot.com – United States the world's one of largest coal producers, produced approximately 19.3 million short tons (mmst) of coal in ...
Thursday, 30 October 14
COAL & GRAINS SUPPORT PANAMAX AND IRON ORE SUPPORTS CAPES
Handy
The Atlantic market has been flat this week. Rates are up about US$ 200 from last week on the TA´s, but the volumes are about the sam ...
Thursday, 30 October 14
DOES A LOU ARBITRATION AGREEMENT FOR THE UNDERLYING CARGO CLAIM COMPLETELY REPLACE THE BILL OF LADING ARBITRATION CLAUSE? - INCE &CO
KNOWLEDGE TO ELEVATE
In the context of cargo claims brought under four bills of lading, the Commercial Court has recently considered whether a ...
Wednesday, 29 October 14
GOOD REASON WHY Q4 CAPESIZE OUTLOOK WAS SO BULLISH AT START OF THE YEAR - COMMODORE RESEARCH
COALspot.com: There was good reason why so many analysts' capesize outlook for Q4 was so very strong at the start of this year. Brazilian ...
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- Formosa Plastics Group - Taiwan
- Vizag Seaport Private Limited - India
- Medco Energi Mining Internasional
- Alfred C Toepfer International GmbH - Germany
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- Global Coal Blending Company Limited - Australia
- Energy Link Ltd, New Zealand
- OPG Power Generation Pvt Ltd - India
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- Karbindo Abesyapradhi - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Directorate General of MIneral and Coal - Indonesia
- Latin American Coal - Colombia
- Altura Mining Limited, Indonesia
- TeaM Sual Corporation - Philippines
- Posco Energy - South Korea
- The State Trading Corporation of India Ltd
- Bayan Resources Tbk. - Indonesia
- Trasteel International SA, Italy
- Mintek Dendrill Indonesia
- Gujarat Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Lanco Infratech Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- The University of Queensland
- Maharashtra Electricity Regulatory Commission - India
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- Eastern Energy - Thailand
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- Ministry of Finance - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thiess Contractors Indonesia
- Samtan Co., Ltd - South Korea
- Neyveli Lignite Corporation Ltd, - India
- Independent Power Producers Association of India
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- Minerals Council of Australia
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- Straits Asia Resources Limited - Singapore
- Petron Corporation, Philippines
- Grasim Industreis Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jaiprakash Power Ventures ltd
- Carbofer General Trading SA - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parliament of New Zealand
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- International Coal Ventures Pvt Ltd - India
- Commonwealth Bank - Australia
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- European Bulk Services B.V. - Netherlands
- GMR Energy Limited - India
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- Central Electricity Authority - India
- Ind-Barath Power Infra Limited - India
- London Commodity Brokers - England
- Goldman Sachs - Singapore
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- Holcim Trading Pte Ltd - Singapore
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- Electricity Authority, New Zealand
- Deloitte Consulting - India
- McConnell Dowell - Australia
- Price Waterhouse Coopers - Russia
- Simpson Spence & Young - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Planning Commission, India
- Aboitiz Power Corporation - Philippines
- Electricity Generating Authority of Thailand
- Antam Resourcindo - Indonesia
- Directorate Of Revenue Intelligence - India
- The Treasury - Australian Government
- Gujarat Sidhee Cement - India
- Uttam Galva Steels Limited - India
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- Thai Mozambique Logistica
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- ICICI Bank Limited - India
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- Bangladesh Power Developement Board
- Eastern Coal Council - USA
- SMC Global Power, Philippines
- Kobexindo Tractors - Indoneisa
- Rio Tinto Coal - Australia
- Bhushan Steel Limited - India
- Edison Trading Spa - Italy
- San Jose City I Power Corp, Philippines
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- SN Aboitiz Power Inc, Philippines
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- India Bulls Power Limited - India
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- Singapore Mercantile Exchange
- Romanian Commodities Exchange
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- Renaissance Capital - South Africa
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- Economic Council, Georgia
- Baramulti Group, Indonesia
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- Leighton Contractors Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Barasentosa Lestari - Indonesia
- Interocean Group of Companies - India
- Semirara Mining Corp, Philippines
- Port Waratah Coal Services - Australia
- Iligan Light & Power Inc, Philippines
- Indika Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Heidelberg Cement - Germany
- Orica Mining Services - Indonesia
- Kideco Jaya Agung - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- CIMB Investment Bank - Malaysia
- LBH Netherlands Bv - Netherlands
- PNOC Exploration Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GVK Power & Infra Limited - India
- Bhatia International Limited - India
- Cement Manufacturers Association - India
- Wilmar Investment Holdings
- Jindal Steel & Power Ltd - India
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- IEA Clean Coal Centre - UK
- GN Power Mariveles Coal Plant, Philippines
- GAC Shipping (India) Pvt Ltd
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- Tamil Nadu electricity Board
- Jorong Barutama Greston.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- SMG Consultants - Indonesia
- White Energy Company Limited
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- Toyota Tsusho Corporation, Japan
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- Indo Tambangraya Megah - Indonesia
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- Savvy Resources Ltd - HongKong
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- Power Finance Corporation Ltd., India
- MS Steel International - UAE
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- Ministry of Mines - Canada
- Dalmia Cement Bharat India
- Ministry of Transport, Egypt
- Bahari Cakrawala Sebuku - Indonesia
- Meralco Power Generation, Philippines
- Indogreen Group - Indonesia
- Therma Luzon, Inc, Philippines
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- Chamber of Mines of South Africa
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