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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, 10 October 14
U.S. PRODUCED 83.2 MMST OF COAL IN SEPTEMBER, SAYS EIA
COALspot.com – United States the world's one of largest coal producers, produced approximately 18.6 million short tons (mmst) of coal in ...
Thursday, 09 October 14
CAPESIZE MARKET HAS CONTINUED TO SHOW WEAKNESS - FEARNLEYS
Handy
We mentioned last week that after several weeks of rate increase for the Supras, the bigger Panamaxes started to snap up better paying Supr ...
Thursday, 09 October 14
SHIPPING REMAINS CHALLENGED AS GLOBAL GROWTH DISAPPOINTS - BIMCO
The global shipping industry finds no grace from much stronger economic activity going forward, as the global recovery remains fragile and uneven. ...
Wednesday, 08 October 14
CAPES RATE FOR THE W. AUSTRALIA TO CHINA VOYAGE MOVED TO BELOW $8/MT - INTERMODAL
The Dry Bulk market remained under pressure last week, with rates for Capes remaining on the red while those for Panamaxes managed to outperform th ...
Wednesday, 08 October 14
OIL COULD FALL TO USD80 BEFORE SHALE SUPPLY RESPONSE - FITCH
COALspot.com: Brent oil could fall as low as USD80 a barrel before triggering a self-correcting supply response with shale-oil drillers cutting inv ...
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- TeaM Sual Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- South Luzon Thermal Energy Corporation
- Energy Link Ltd, New Zealand
- Carbofer General Trading SA - India
- Thai Mozambique Logistica
- GN Power Mariveles Coal Plant, Philippines
- Star Paper Mills Limited - India
- Sinarmas Energy and Mining - Indonesia
- Romanian Commodities Exchange
- Eastern Coal Council - USA
- Leighton Contractors Pty Ltd - Australia
- McConnell Dowell - Australia
- London Commodity Brokers - England
- Essar Steel Hazira Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Directorate Of Revenue Intelligence - India
- Indian Oil Corporation Limited
- Neyveli Lignite Corporation Ltd, - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Heidelberg Cement - Germany
- Kumho Petrochemical, South Korea
- Sical Logistics Limited - India
- San Jose City I Power Corp, Philippines
- Indogreen Group - Indonesia
- Videocon Industries ltd - India
- Ministry of Mines - Canada
- Globalindo Alam Lestari - Indonesia
- Sakthi Sugars Limited - India
- SN Aboitiz Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Altura Mining Limited, Indonesia
- Kobexindo Tractors - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Central Java Power - Indonesia
- ASAPP Information Group - India
- Siam City Cement - Thailand
- Singapore Mercantile Exchange
- Posco Energy - South Korea
- Lanco Infratech Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Tata Chemicals Ltd - India
- VISA Power Limited - India
- Global Business Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Sree Jayajothi Cements Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Renaissance Capital - South Africa
- Tamil Nadu electricity Board
- Holcim Trading Pte Ltd - Singapore
- Merrill Lynch Commodities Europe
- Cigading International Bulk Terminal - Indonesia
- SMC Global Power, Philippines
- Alfred C Toepfer International GmbH - Germany
- Jaiprakash Power Ventures ltd
- Siam City Cement PLC, Thailand
- Intertek Mineral Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Kaltim Prima Coal - Indonesia
- Medco Energi Mining Internasional
- Uttam Galva Steels Limited - India
- Madhucon Powers Ltd - India
- Bukit Makmur.PT - Indonesia
- Power Finance Corporation Ltd., India
- ICICI Bank Limited - India
- Independent Power Producers Association of India
- Billiton Holdings Pty Ltd - Australia
- India Bulls Power Limited - India
- Bhatia International Limited - India
- Karaikal Port Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Banpu Public Company Limited - Thailand
- European Bulk Services B.V. - Netherlands
- Minerals Council of Australia
- Marubeni Corporation - India
- Parliament of New Zealand
- Baramulti Group, Indonesia
- Eastern Energy - Thailand
- PNOC Exploration Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- CNBM International Corporation - China
- Therma Luzon, Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Iligan Light & Power Inc, Philippines
- Commonwealth Bank - Australia
- Maheswari Brothers Coal Limited - India
- Ceylon Electricity Board - Sri Lanka
- Coalindo Energy - Indonesia
- Aditya Birla Group - India
- Sarangani Energy Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Bhushan Steel Limited - India
- Bulk Trading Sa - Switzerland
- LBH Netherlands Bv - Netherlands
- Bayan Resources Tbk. - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- Attock Cement Pakistan Limited
- The University of Queensland
- Rio Tinto Coal - Australia
- Price Waterhouse Coopers - Russia
- Agrawal Coal Company - India
- Grasim Industreis Ltd - India
- Coal and Oil Company - UAE
- Kepco SPC Power Corporation, Philippines
- Cement Manufacturers Association - India
- International Coal Ventures Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Authority, New Zealand
- Dalmia Cement Bharat India
- Energy Development Corp, Philippines
- Latin American Coal - Colombia
- Port Waratah Coal Services - Australia
- GMR Energy Limited - India
- Thiess Contractors Indonesia
- The State Trading Corporation of India Ltd
- Kideco Jaya Agung - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Australian Coal Association
- Gujarat Sidhee Cement - India
- Africa Commodities Group - South Africa
- Coastal Gujarat Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IEA Clean Coal Centre - UK
- Krishnapatnam Port Company Ltd. - India
- Anglo American - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GAC Shipping (India) Pvt Ltd
- Electricity Generating Authority of Thailand
- Metalloyd Limited - United Kingdom
- Ambuja Cements Ltd - India
- Semirara Mining Corp, Philippines
- Indika Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Chamber of Mines of South Africa
- Oldendorff Carriers - Singapore
- Salva Resources Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Vizag Seaport Private Limited - India
- Edison Trading Spa - Italy
- Riau Bara Harum - Indonesia
- PTC India Limited - India
- Makarim & Taira - Indonesia
- CIMB Investment Bank - Malaysia
- MS Steel International - UAE
- Directorate General of MIneral and Coal - Indonesia
- Orica Mining Services - Indonesia
- Bharathi Cement Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Aboitiz Power Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Borneo Indobara - Indonesia
- Mercuria Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Barasentosa Lestari - Indonesia
- New Zealand Coal & Carbon
- Meenaskhi Energy Private Limited - India
- Mercator Lines Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Deloitte Consulting - India
- Kartika Selabumi Mining - Indonesia
- Interocean Group of Companies - India
- Pipit Mutiara Jaya. PT, Indonesia
- Ind-Barath Power Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Formosa Plastics Group - Taiwan
- Samtan Co., Ltd - South Korea
- SMG Consultants - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vedanta Resources Plc - India
- IHS Mccloskey Coal Group - USA
- Economic Council, Georgia
- Mintek Dendrill Indonesia
- The Treasury - Australian Government
- Planning Commission, India
- Kapuas Tunggal Persada - Indonesia
- Parry Sugars Refinery, India
- Mjunction Services Limited - India
- Chettinad Cement Corporation Ltd - India
- Ministry of Finance - Indonesia
- White Energy Company Limited
- Bangladesh Power Developement Board
- Ministry of Transport, Egypt
- Sojitz Corporation - Japan
- Manunggal Multi Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Georgia Ports Authority, United States
- PowerSource Philippines DevCo
- Central Electricity Authority - India
- Global Green Power PLC Corporation, Philippines
- Malabar Cements Ltd - India
- Standard Chartered Bank - UAE
- Global Coal Blending Company Limited - Australia
- Trasteel International SA, Italy
- Goldman Sachs - Singapore
- Indonesian Coal Mining Association
- GVK Power & Infra Limited - India
- Meralco Power Generation, Philippines
- OPG Power Generation Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Wood Mackenzie - Singapore
- Petron Corporation, Philippines
- Australian Commodity Traders Exchange
- Larsen & Toubro Limited - India
- Xindia Steels Limited - India
- Orica Australia Pty. Ltd.
- Offshore Bulk Terminal Pte Ltd, Singapore
- Timah Investasi Mineral - Indoneisa
- Savvy Resources Ltd - HongKong
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