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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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Tuesday, 28 October 14
SGX'S FOB RICHARDS BAY COAL SWAP FOR DELIVERY Q1' 2015 CLOSED AT $ 68.07 ON 24 OCT
COALspot.com: API 4 FOB Richards Bay coal swap for Q4’ 2014 delivery decreased US$ 0.65 (-0.96%) month over month and increased US$ 1.79 (+2. ...
Tuesday, 28 October 14
SUB-BIT FOB INDONESIA COAL SWAP FOR Q1' 15 DELIVERY CLOSED 3.68% LOWER MONTH ON MONTH
COALspot.com: Indonesian coal swaps for delivery Q4' 2014 lost month on month and gained day on day and week on week.
The swap has lost US ...
Monday, 27 October 14
GOVT PROMISES TO EASE LICENSING PROCEDURES IN MINING SECTOR - THE JAKARTA POST
The Energy and Mineral Resources Ministry’s directorate general for mineral and coal plans to simplify the complicated licensing procedures i ...
Monday, 27 October 14
FOB NEWCASTLE COAL SWAP FOR Q1' 15 DELIVERY CLOSED $ 0.10 LESSER THAN Q4' 14 CLOSING OF $ 53.27 PMT
COALspot.com: API 5 FOB Newcastle Coal swap for Q4’ 2014 delivery decreased US$ 1.43 (-2.61%) month over month and increased US$ 0.05 (+0.09% ...
Monday, 27 October 14
CFR SOUTH CHINA COAL SWAPS PERFORMED POSITIVE THIS PAST WEEK
COALspot.com: API 8 CFR South China Coal swap for Q4’ 2014 delivery decreased US$ 1.68 (-2.55%) month over month and increased US$ 0.87 (+1.3 ...
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- Eastern Coal Council - USA
- Savvy Resources Ltd - HongKong
- Makarim & Taira - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Samtan Co., Ltd - South Korea
- Energy Development Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Star Paper Mills Limited - India
- Power Finance Corporation Ltd., India
- Parliament of New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Interocean Group of Companies - India
- SN Aboitiz Power Inc, Philippines
- Goldman Sachs - Singapore
- Xindia Steels Limited - India
- Indian Energy Exchange, India
- Sical Logistics Limited - India
- Oldendorff Carriers - Singapore
- Gujarat Sidhee Cement - India
- Pipit Mutiara Jaya. PT, Indonesia
- European Bulk Services B.V. - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Port Waratah Coal Services - Australia
- Parry Sugars Refinery, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- San Jose City I Power Corp, Philippines
- Videocon Industries ltd - India
- VISA Power Limited - India
- Kobexindo Tractors - Indoneisa
- Essar Steel Hazira Ltd - India
- Merrill Lynch Commodities Europe
- Sindya Power Generating Company Private Ltd
- Kumho Petrochemical, South Korea
- Vedanta Resources Plc - India
- GN Power Mariveles Coal Plant, Philippines
- Therma Luzon, Inc, Philippines
- India Bulls Power Limited - India
- Ministry of Transport, Egypt
- Karbindo Abesyapradhi - Indoneisa
- Orica Mining Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- The University of Queensland
- SMC Global Power, Philippines
- Electricity Authority, New Zealand
- Romanian Commodities Exchange
- Metalloyd Limited - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Deloitte Consulting - India
- Maharashtra Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Formosa Plastics Group - Taiwan
- Siam City Cement PLC, Thailand
- White Energy Company Limited
- OPG Power Generation Pvt Ltd - India
- The Treasury - Australian Government
- Commonwealth Bank - Australia
- Chamber of Mines of South Africa
- Holcim Trading Pte Ltd - Singapore
- Trasteel International SA, Italy
- Cement Manufacturers Association - India
- PowerSource Philippines DevCo
- Iligan Light & Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Energy Link Ltd, New Zealand
- Thai Mozambique Logistica
- Wilmar Investment Holdings
- GMR Energy Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Ind-Barath Power Infra Limited - India
- ASAPP Information Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Mines - Canada
- ICICI Bank Limited - India
- Eastern Energy - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Baramulti Group, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Coalindo Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Indika Energy - Indonesia
- Tata Chemicals Ltd - India
- Aboitiz Power Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Georgia Ports Authority, United States
- Billiton Holdings Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- Mintek Dendrill Indonesia
- Jaiprakash Power Ventures ltd
- Bukit Makmur.PT - Indonesia
- Indian Oil Corporation Limited
- Mercuria Energy - Indonesia
- Bharathi Cement Corporation - India
- Sree Jayajothi Cements Limited - India
- Simpson Spence & Young - Indonesia
- IHS Mccloskey Coal Group - USA
- Grasim Industreis Ltd - India
- Altura Mining Limited, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Borneo Indobara - Indonesia
- MS Steel International - UAE
- Price Waterhouse Coopers - Russia
- Kohat Cement Company Ltd. - Pakistan
- Chettinad Cement Corporation Ltd - India
- Economic Council, Georgia
- Globalindo Alam Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- Thiess Contractors Indonesia
- Bukit Baiduri Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Lanco Infratech Ltd - India
- Mjunction Services Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Salva Resources Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Edison Trading Spa - Italy
- Kaltim Prima Coal - Indonesia
- London Commodity Brokers - England
- Coastal Gujarat Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Carbofer General Trading SA - India
- Attock Cement Pakistan Limited
- Miang Besar Coal Terminal - Indonesia
- Renaissance Capital - South Africa
- Medco Energi Mining Internasional
- Riau Bara Harum - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Wood Mackenzie - Singapore
- Marubeni Corporation - India
- Bulk Trading Sa - Switzerland
- Mercator Lines Limited - India
- Sojitz Corporation - Japan
- Bhatia International Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Australian Coal Association
- Larsen & Toubro Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Bhushan Steel Limited - India
- Independent Power Producers Association of India
- IEA Clean Coal Centre - UK
- South Luzon Thermal Energy Corporation
- New Zealand Coal & Carbon
- Indogreen Group - Indonesia
- Madhucon Powers Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining Corp, Philippines
- Australian Commodity Traders Exchange
- Manunggal Multi Energi - Indonesia
- Planning Commission, India
- LBH Netherlands Bv - Netherlands
- Kartika Selabumi Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- McConnell Dowell - Australia
- Cigading International Bulk Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Alfred C Toepfer International GmbH - Germany
- Latin American Coal - Colombia
- SMG Consultants - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Standard Chartered Bank - UAE
- Meralco Power Generation, Philippines
- Bangladesh Power Developement Board
- Orica Australia Pty. Ltd.
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Green Power PLC Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Timah Investasi Mineral - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Straits Asia Resources Limited - Singapore
- Posco Energy - South Korea
- PTC India Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Malabar Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Minerals Council of Australia
- Electricity Generating Authority of Thailand
- Coal and Oil Company - UAE
- Ministry of Finance - Indonesia
- Uttam Galva Steels Limited - India
- Petron Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Meenaskhi Energy Private Limited - India
- Central Java Power - Indonesia
- Anglo American - United Kingdom
- Bhoruka Overseas - Indonesia
- Ambuja Cements Ltd - India
- Tamil Nadu electricity Board
- Central Electricity Authority - India
- Bukit Asam (Persero) Tbk - Indonesia
- Singapore Mercantile Exchange
- Sakthi Sugars Limited - India
- Global Business Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- CNBM International Corporation - China
- Indonesian Coal Mining Association
- GVK Power & Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Dalmia Cement Bharat India
- Semirara Mining and Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Pendopo Energi Batubara - Indonesia
- Heidelberg Cement - Germany
- Agrawal Coal Company - India
- TeaM Sual Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Africa Commodities Group - South Africa
- Aditya Birla Group - India
- Banpu Public Company Limited - Thailand
- Siam City Cement - Thailand
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