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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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Thursday, 16 October 14
ARE WE GOING TO SHOOT OURSELVES IN THE FOOT ONCE AGAIN? - PANOS MAKRINOS
As the East part of our globe was coming back from its October holidays last week, everyone expected that the Dry Bulk market would follow suit and ...
Wednesday, 15 October 14
PANAMAX: ACTIVITY IN THE PACIFIC WAS UNIMPRESSIVE
The Dry Bulk market noted another weekly decline last week, while the BDI moved below 1,000 points taking down with it expectations that a post hol ...
Wednesday, 15 October 14
INDONESIAN COAL PRICE REFERENCE FELL TO FRESH MULTI-YEAR LOWS IN OCTOBER
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia revised down the coal bench mark price once again in October 2014.
...
Wednesday, 15 October 14
DRY BULK SHIPPING: RATE IMPROVEMENTS ARRIVED AS FORECAST, BUT UNCERTAINTY MOUNTS FOR 2015 DEMAND - BIMCO
BIMCO released its latest short term assessment of the dry bulk market, estimating that over the October-November period, the level of Capesize TC ...
Wednesday, 15 October 14
SHIPOWNER NOT LIABLE FOR CARGO DAMAGE RESULTING FROM POOR STOWAGE - CLYDE & CO
KNOWLEDGE TO ELEVATE
Russian metal trading company Yuzhny Zavod Metall Profil (YZMP), the holder of a CONGEN 1994 bill of lading, took delivery o ...
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Showing 3426 to 3430 news of total 6871 |
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- Bhoruka Overseas - Indonesia
- White Energy Company Limited
- Economic Council, Georgia
- Miang Besar Coal Terminal - Indonesia
- Carbofer General Trading SA - India
- Vedanta Resources Plc - India
- Riau Bara Harum - Indonesia
- Agrawal Coal Company - India
- Maheswari Brothers Coal Limited - India
- Sojitz Corporation - Japan
- Parliament of New Zealand
- Banpu Public Company Limited - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Energy Development Corp, Philippines
- Gujarat Sidhee Cement - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Leighton Contractors Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Anglo American - United Kingdom
- Madhucon Powers Ltd - India
- Grasim Industreis Ltd - India
- PTC India Limited - India
- Petron Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Mintek Dendrill Indonesia
- New Zealand Coal & Carbon
- Essar Steel Hazira Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Africa Commodities Group - South Africa
- Semirara Mining and Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Neyveli Lignite Corporation Ltd, - India
- TeaM Sual Corporation - Philippines
- Siam City Cement - Thailand
- IHS Mccloskey Coal Group - USA
- India Bulls Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Posco Energy - South Korea
- Makarim & Taira - Indonesia
- Heidelberg Cement - Germany
- Wilmar Investment Holdings
- Uttam Galva Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Transport, Egypt
- Wood Mackenzie - Singapore
- Star Paper Mills Limited - India
- Port Waratah Coal Services - Australia
- Timah Investasi Mineral - Indoneisa
- Semirara Mining Corp, Philippines
- Romanian Commodities Exchange
- PNOC Exploration Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Power Finance Corporation Ltd., India
- Tamil Nadu electricity Board
- Maharashtra Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- SMC Global Power, Philippines
- SN Aboitiz Power Inc, Philippines
- Standard Chartered Bank - UAE
- Minerals Council of Australia
- Electricity Authority, New Zealand
- Bangladesh Power Developement Board
- Straits Asia Resources Limited - Singapore
- Sarangani Energy Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- The University of Queensland
- Global Coal Blending Company Limited - Australia
- Medco Energi Mining Internasional
- Trasteel International SA, Italy
- McConnell Dowell - Australia
- San Jose City I Power Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Meralco Power Generation, Philippines
- Singapore Mercantile Exchange
- Rashtriya Ispat Nigam Limited - India
- Intertek Mineral Services - Indonesia
- Larsen & Toubro Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Lanco Infratech Ltd - India
- Chamber of Mines of South Africa
- Australian Coal Association
- Kapuas Tunggal Persada - Indonesia
- Kumho Petrochemical, South Korea
- Baramulti Group, Indonesia
- Price Waterhouse Coopers - Russia
- Sinarmas Energy and Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Kohat Cement Company Ltd. - Pakistan
- Vizag Seaport Private Limited - India
- Ministry of Finance - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Simpson Spence & Young - Indonesia
- Directorate Of Revenue Intelligence - India
- Oldendorff Carriers - Singapore
- Kepco SPC Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Parry Sugars Refinery, India
- Pipit Mutiara Jaya. PT, Indonesia
- The State Trading Corporation of India Ltd
- Indian Energy Exchange, India
- Sakthi Sugars Limited - India
- Deloitte Consulting - India
- MS Steel International - UAE
- The Treasury - Australian Government
- Therma Luzon, Inc, Philippines
- ASAPP Information Group - India
- Sree Jayajothi Cements Limited - India
- Kideco Jaya Agung - Indonesia
- Rio Tinto Coal - Australia
- Gujarat Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Energy Link Ltd, New Zealand
- Bharathi Cement Corporation - India
- Planning Commission, India
- Marubeni Corporation - India
- Videocon Industries ltd - India
- Binh Thuan Hamico - Vietnam
- Samtan Co., Ltd - South Korea
- Indonesian Coal Mining Association
- Vijayanagar Sugar Pvt Ltd - India
- Renaissance Capital - South Africa
- Latin American Coal - Colombia
- Mercator Lines Limited - India
- Tata Chemicals Ltd - India
- Goldman Sachs - Singapore
- Borneo Indobara - Indonesia
- VISA Power Limited - India
- Sindya Power Generating Company Private Ltd
- Bukit Baiduri Energy - Indonesia
- Ministry of Mines - Canada
- LBH Netherlands Bv - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Attock Cement Pakistan Limited
- Dalmia Cement Bharat India
- SMG Consultants - Indonesia
- London Commodity Brokers - England
- CIMB Investment Bank - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ambuja Cements Ltd - India
- Xindia Steels Limited - India
- Kobexindo Tractors - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Indian Oil Corporation Limited
- Coalindo Energy - Indonesia
- Siam City Cement PLC, Thailand
- Toyota Tsusho Corporation, Japan
- Mjunction Services Limited - India
- Thiess Contractors Indonesia
- Bhatia International Limited - India
- Central Java Power - Indonesia
- Interocean Group of Companies - India
- Pendopo Energi Batubara - Indonesia
- Antam Resourcindo - Indonesia
- Jindal Steel & Power Ltd - India
- Globalindo Alam Lestari - Indonesia
- GVK Power & Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Aboitiz Power Corporation - Philippines
- Electricity Generating Authority of Thailand
- Formosa Plastics Group - Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Central Electricity Authority - India
- Altura Mining Limited, Indonesia
- Indika Energy - Indonesia
- Edison Trading Spa - Italy
- Orica Mining Services - Indonesia
- Sical Logistics Limited - India
- IEA Clean Coal Centre - UK
- Bayan Resources Tbk. - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Commodity Traders Exchange
- Orica Australia Pty. Ltd.
- ICICI Bank Limited - India
- Salva Resources Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- PowerSource Philippines DevCo
- Kalimantan Lumbung Energi - Indonesia
- Eastern Coal Council - USA
- PetroVietnam Power Coal Import and Supply Company
- Eastern Energy - Thailand
- Malabar Cements Ltd - India
- Independent Power Producers Association of India
- Karaikal Port Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Cement Manufacturers Association - India
- Coal and Oil Company - UAE
- GMR Energy Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Bhushan Steel Limited - India
- Georgia Ports Authority, United States
- Savvy Resources Ltd - HongKong
- European Bulk Services B.V. - Netherlands
- Global Business Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Indo Tambangraya Megah - Indonesia
- Aditya Birla Group - India
- Thai Mozambique Logistica
- Mercuria Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Manunggal Multi Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Merrill Lynch Commodities Europe
- Metalloyd Limited - United Kingdom
- CNBM International Corporation - China
- Kaltim Prima Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Krishnapatnam Port Company Ltd. - India
- Commonwealth Bank - Australia
- Barasentosa Lestari - Indonesia
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