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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, 21 October 14
INDIA'S DIESEL DEREGULATION POSITIVE FOR OIL COMPANIES - FITCH
The Indian government's 18 October decision to deregulate diesel prices will have a positive effect on the national oil marketing companies tha ...
Tuesday, 21 October 14
LOW DEMAND PUTTING COAL SWAPS UNDER PRESSURE
COALspot.com: Indonesian coal swaps for delivery Q4' 2014 lost on day, week and month.
The swap has lost US$ 1.57 (-3.04%) month on month ...
Monday, 20 October 14
CHINA'S ENVIRONMENTAL POLICIES DO NOT SPELL THE END FOR COAL - WOOD MACKENZIE
China's environmental policies do not spell the end for coal Analysis across energy commodities show coal still accounting for 64% of power mix ...
Monday, 20 October 14
CFR SOUTH CHINA COAL SWAPS FAILED TO PERFORM POSITIVE
COALspot.com: API 8 CFR South China Coal swap for Q4’ 2014 delivery decreased US$ 3.04 (-4.57%) month over month and US$ 1.75 (-2.68%) week o ...
Sunday, 19 October 14
LOW DEMAND PUSHES DOWN COAL FREIGHT RATES; VOLATILITY CONTINUES
COALspot.com: This week all the segments softened including BDI except for Panamax index.
The BDI was down by1.70 pct and clsoed at 944 points ...
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- Straits Asia Resources Limited - Singapore
- Tamil Nadu electricity Board
- Malabar Cements Ltd - India
- Heidelberg Cement - Germany
- European Bulk Services B.V. - Netherlands
- Orica Australia Pty. Ltd.
- Edison Trading Spa - Italy
- Sree Jayajothi Cements Limited - India
- Therma Luzon, Inc, Philippines
- Economic Council, Georgia
- Mercuria Energy - Indonesia
- Indian Energy Exchange, India
- Pendopo Energi Batubara - Indonesia
- GVK Power & Infra Limited - India
- White Energy Company Limited
- Vijayanagar Sugar Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Energy Link Ltd, New Zealand
- Star Paper Mills Limited - India
- Leighton Contractors Pty Ltd - Australia
- Renaissance Capital - South Africa
- Xindia Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- VISA Power Limited - India
- Maheswari Brothers Coal Limited - India
- Bukit Makmur.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Singapore Mercantile Exchange
- Grasim Industreis Ltd - India
- Lanco Infratech Ltd - India
- The University of Queensland
- PNOC Exploration Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Oldendorff Carriers - Singapore
- Global Coal Blending Company Limited - Australia
- Chamber of Mines of South Africa
- Aboitiz Power Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Meenaskhi Energy Private Limited - India
- Australian Coal Association
- AsiaOL BioFuels Corp., Philippines
- Metalloyd Limited - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement - Thailand
- LBH Netherlands Bv - Netherlands
- Power Finance Corporation Ltd., India
- Australian Commodity Traders Exchange
- Sical Logistics Limited - India
- SN Aboitiz Power Inc, Philippines
- Marubeni Corporation - India
- Ind-Barath Power Infra Limited - India
- Goldman Sachs - Singapore
- San Jose City I Power Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Anglo American - United Kingdom
- Cement Manufacturers Association - India
- India Bulls Power Limited - India
- Manunggal Multi Energi - Indonesia
- The State Trading Corporation of India Ltd
- PetroVietnam Power Coal Import and Supply Company
- Aditya Birla Group - India
- Krishnapatnam Port Company Ltd. - India
- Chettinad Cement Corporation Ltd - India
- Trasteel International SA, Italy
- Price Waterhouse Coopers - Russia
- Romanian Commodities Exchange
- Eastern Energy - Thailand
- Larsen & Toubro Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- McConnell Dowell - Australia
- Directorate General of MIneral and Coal - Indonesia
- Bhushan Steel Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Port Waratah Coal Services - Australia
- Central Electricity Authority - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kepco SPC Power Corporation, Philippines
- Parliament of New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Mjunction Services Limited - India
- Latin American Coal - Colombia
- Bangladesh Power Developement Board
- Tata Chemicals Ltd - India
- Energy Development Corp, Philippines
- Sindya Power Generating Company Private Ltd
- MS Steel International - UAE
- Jindal Steel & Power Ltd - India
- Agrawal Coal Company - India
- Planning Commission, India
- Rashtriya Ispat Nigam Limited - India
- Kapuas Tunggal Persada - Indonesia
- Kideco Jaya Agung - Indonesia
- ASAPP Information Group - India
- Makarim & Taira - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Commonwealth Bank - Australia
- PTC India Limited - India
- Ministry of Mines - Canada
- Gujarat Sidhee Cement - India
- Indo Tambangraya Megah - Indonesia
- Jaiprakash Power Ventures ltd
- PowerSource Philippines DevCo
- Simpson Spence & Young - Indonesia
- Interocean Group of Companies - India
- OPG Power Generation Pvt Ltd - India
- Bharathi Cement Corporation - India
- Sakthi Sugars Limited - India
- Iligan Light & Power Inc, Philippines
- Rio Tinto Coal - Australia
- Minerals Council of Australia
- Siam City Cement PLC, Thailand
- Ambuja Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Merrill Lynch Commodities Europe
- Salva Resources Pvt Ltd - India
- Carbofer General Trading SA - India
- Parry Sugars Refinery, India
- Vizag Seaport Private Limited - India
- Madhucon Powers Ltd - India
- Dalmia Cement Bharat India
- Cigading International Bulk Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Mercator Lines Limited - India
- ICICI Bank Limited - India
- Directorate Of Revenue Intelligence - India
- Miang Besar Coal Terminal - Indonesia
- Borneo Indobara - Indonesia
- Kumho Petrochemical, South Korea
- Wood Mackenzie - Singapore
- Independent Power Producers Association of India
- Toyota Tsusho Corporation, Japan
- Attock Cement Pakistan Limited
- Karaikal Port Pvt Ltd - India
- Deloitte Consulting - India
- Ceylon Electricity Board - Sri Lanka
- Electricity Generating Authority of Thailand
- IHS Mccloskey Coal Group - USA
- Videocon Industries ltd - India
- Posco Energy - South Korea
- Sojitz Corporation - Japan
- Uttam Galva Steels Limited - India
- The Treasury - Australian Government
- Banpu Public Company Limited - Thailand
- Baramulti Group, Indonesia
- Bhatia International Limited - India
- Global Green Power PLC Corporation, Philippines
- Coal and Oil Company - UAE
- Savvy Resources Ltd - HongKong
- Sinarmas Energy and Mining - Indonesia
- Formosa Plastics Group - Taiwan
- Orica Mining Services - Indonesia
- South Luzon Thermal Energy Corporation
- Vedanta Resources Plc - India
- Altura Mining Limited, Indonesia
- Antam Resourcindo - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Georgia Ports Authority, United States
- Timah Investasi Mineral - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- London Commodity Brokers - England
- Karbindo Abesyapradhi - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Standard Chartered Bank - UAE
- Holcim Trading Pte Ltd - Singapore
- Mintek Dendrill Indonesia
- Thai Mozambique Logistica
- CNBM International Corporation - China
- Petrochimia International Co. Ltd.- Taiwan
- SMG Consultants - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- TeaM Sual Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Coalindo Energy - Indonesia
- Africa Commodities Group - South Africa
- Ministry of Transport, Egypt
- GMR Energy Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bhoruka Overseas - Indonesia
- Eastern Coal Council - USA
- Samtan Co., Ltd - South Korea
- Central Java Power - Indonesia
- Indian Oil Corporation Limited
- Meralco Power Generation, Philippines
- New Zealand Coal & Carbon
- SMC Global Power, Philippines
- International Coal Ventures Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Thiess Contractors Indonesia
- IEA Clean Coal Centre - UK
- Semirara Mining Corp, Philippines
- Essar Steel Hazira Ltd - India
- Petron Corporation, Philippines
- Electricity Authority, New Zealand
- Indika Energy - Indonesia
- Medco Energi Mining Internasional
- Binh Thuan Hamico - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Riau Bara Harum - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Finance - Indonesia
- Indonesian Coal Mining Association
- Billiton Holdings Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Bulk Trading Sa - Switzerland
- Wilmar Investment Holdings
- Globalindo Alam Lestari - Indonesia
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