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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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Sunday, 26 October 14
CAPE'S STRONG PERFORMANCE PUSHES BDI INDEX UPWARDS
COALspot.com: The BDI was up by 26.27 pct and closed at 1192 points week and week. The Cape size performance has pushed up BDI and Cape size index ...
Friday, 24 October 14
WEEKLY U.S COAL PRODUCTION DOWN 2.7% FOR THE WEEK ENDING OCTOBER 18
COALspot.com – United States the world's one of largest coal producers, produced approximately 18.7 million short tons (mmst) of coal in ...
Thursday, 23 October 14
THE BEARS, HOWEVER, STILL CRY; FOR HOW LONG WILL IT LAST? - FEARNLEYS
Handy
"We experience a typical oversupply of ships in the Atlantic which causing rates to slide. In the USG it is just enough cargoes to kee ...
Wednesday, 22 October 14
MARKET INSIGHT - THEODORE NTALAKOS, INTERMODAL
ECO designs - revisited
The ECO vessels are already here but the oil and bunker prices are plummeting to their cheapest level since 2010. Is this ...
Wednesday, 22 October 14
CAPESIZE MARKET REMAINED UNDER PRESSURE
COALspot.com: The Dry Bulk market closed on the red for yet another week although following Friday sentiment has started to improve on the back of ...
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- Ind-Barath Power Infra Limited - India
- Wilmar Investment Holdings
- European Bulk Services B.V. - Netherlands
- Savvy Resources Ltd - HongKong
- Sarangani Energy Corporation, Philippines
- Latin American Coal - Colombia
- The State Trading Corporation of India Ltd
- Posco Energy - South Korea
- Aditya Birla Group - India
- Ambuja Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Intertek Mineral Services - Indonesia
- Orica Mining Services - Indonesia
- New Zealand Coal & Carbon
- Indika Energy - Indonesia
- PowerSource Philippines DevCo
- Antam Resourcindo - Indonesia
- India Bulls Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Central Electricity Authority - India
- Aboitiz Power Corporation - Philippines
- Rio Tinto Coal - Australia
- Bukit Baiduri Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Heidelberg Cement - Germany
- Tamil Nadu electricity Board
- Manunggal Multi Energi - Indonesia
- Eastern Energy - Thailand
- San Jose City I Power Corp, Philippines
- Eastern Coal Council - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Electricity Generating Authority of Thailand
- Binh Thuan Hamico - Vietnam
- Power Finance Corporation Ltd., India
- Bahari Cakrawala Sebuku - Indonesia
- TeaM Sual Corporation - Philippines
- Australian Coal Association
- Gujarat Mineral Development Corp Ltd - India
- Xindia Steels Limited - India
- Iligan Light & Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Mintek Dendrill Indonesia
- Mjunction Services Limited - India
- Chamber of Mines of South Africa
- Anglo American - United Kingdom
- Larsen & Toubro Limited - India
- Indonesian Coal Mining Association
- Tata Chemicals Ltd - India
- Orica Australia Pty. Ltd.
- Trasteel International SA, Italy
- Malabar Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- SMC Global Power, Philippines
- Edison Trading Spa - Italy
- OPG Power Generation Pvt Ltd - India
- Sical Logistics Limited - India
- Semirara Mining and Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- Parry Sugars Refinery, India
- Jaiprakash Power Ventures ltd
- Price Waterhouse Coopers - Russia
- Coal and Oil Company - UAE
- Kumho Petrochemical, South Korea
- MS Steel International - UAE
- Madhucon Powers Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Global Business Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Kapuas Tunggal Persada - Indonesia
- Wood Mackenzie - Singapore
- South Luzon Thermal Energy Corporation
- The Treasury - Australian Government
- McConnell Dowell - Australia
- GAC Shipping (India) Pvt Ltd
- Bukit Makmur.PT - Indonesia
- IEA Clean Coal Centre - UK
- Carbofer General Trading SA - India
- Indian Energy Exchange, India
- Meenaskhi Energy Private Limited - India
- Interocean Group of Companies - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Samtan Co., Ltd - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Sindya Power Generating Company Private Ltd
- Siam City Cement PLC, Thailand
- Meralco Power Generation, Philippines
- CIMB Investment Bank - Malaysia
- Energy Development Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Globalindo Alam Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Altura Mining Limited, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Holcim Trading Pte Ltd - Singapore
- London Commodity Brokers - England
- Bharathi Cement Corporation - India
- Central Java Power - Indonesia
- Cigading International Bulk Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Formosa Plastics Group - Taiwan
- Maheswari Brothers Coal Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PetroVietnam Power Coal Import and Supply Company
- GVK Power & Infra Limited - India
- Essar Steel Hazira Ltd - India
- The University of Queensland
- Mercuria Energy - Indonesia
- Dalmia Cement Bharat India
- Georgia Ports Authority, United States
- Lanco Infratech Ltd - India
- Makarim & Taira - Indonesia
- Star Paper Mills Limited - India
- Bulk Trading Sa - Switzerland
- Vijayanagar Sugar Pvt Ltd - India
- Marubeni Corporation - India
- Independent Power Producers Association of India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Economic Council, Georgia
- Africa Commodities Group - South Africa
- Ministry of Transport, Egypt
- Kideco Jaya Agung - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Vedanta Resources Plc - India
- Rashtriya Ispat Nigam Limited - India
- Therma Luzon, Inc, Philippines
- ICICI Bank Limited - India
- Thiess Contractors Indonesia
- Commonwealth Bank - Australia
- Ceylon Electricity Board - Sri Lanka
- Miang Besar Coal Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- Gujarat Sidhee Cement - India
- Chettinad Cement Corporation Ltd - India
- ASAPP Information Group - India
- Straits Asia Resources Limited - Singapore
- White Energy Company Limited
- Kaltim Prima Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Oldendorff Carriers - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- PTC India Limited - India
- Global Coal Blending Company Limited - Australia
- Medco Energi Mining Internasional
- Vizag Seaport Private Limited - India
- Coalindo Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Pipit Mutiara Jaya. PT, Indonesia
- Simpson Spence & Young - Indonesia
- Australian Commodity Traders Exchange
- Karaikal Port Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Deloitte Consulting - India
- Uttam Galva Steels Limited - India
- Sojitz Corporation - Japan
- Mercator Lines Limited - India
- Bhushan Steel Limited - India
- Planning Commission, India
- Kepco SPC Power Corporation, Philippines
- Agrawal Coal Company - India
- Videocon Industries ltd - India
- Singapore Mercantile Exchange
- Grasim Industreis Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jorong Barutama Greston.PT - Indonesia
- Riau Bara Harum - Indonesia
- SMG Consultants - Indonesia
- Indo Tambangraya Megah - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Borneo Indobara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bangladesh Power Developement Board
- AsiaOL BioFuels Corp., Philippines
- Bhatia International Limited - India
- Metalloyd Limited - United Kingdom
- Electricity Authority, New Zealand
- Romanian Commodities Exchange
- Petron Corporation, Philippines
- Attock Cement Pakistan Limited
- Energy Link Ltd, New Zealand
- Bayan Resources Tbk. - Indonesia
- CNBM International Corporation - China
- GMR Energy Limited - India
- PNOC Exploration Corporation - Philippines
- Sakthi Sugars Limited - India
- Semirara Mining Corp, Philippines
- Ministry of Finance - Indonesia
- Goldman Sachs - Singapore
- Gujarat Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Siam City Cement - Thailand
- Coastal Gujarat Power Limited - India
- Kobexindo Tractors - Indoneisa
- Renaissance Capital - South Africa
- Minerals Council of Australia
- Thai Mozambique Logistica
- Parliament of New Zealand
- Indogreen Group - Indonesia
- Indian Oil Corporation Limited
- Timah Investasi Mineral - Indoneisa
- Ministry of Mines - Canada
- TNB Fuel Sdn Bhd - Malaysia
- Port Waratah Coal Services - Australia
- IHS Mccloskey Coal Group - USA
- Barasentosa Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- VISA Power Limited - India
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