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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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Wednesday, 08 October 14
IS THERE ANY BRIGHT SIDE ON THE DRY BULK SEGMENT? - YANNIS OLZIERSKY
In the movie “Life Of Brian”, a character on a nearby cross was singing the famous “Always look on the bright side of life” ...
Tuesday, 07 October 14
TAIPOWER TO IMPORT 525K MT OF LOW ASH AND EXTRA LOW SULFUR SUB-BITUMINOUS COAL
COALspot.com: Taiwan Power Company intends to procure 525,000 metric tons of low ash and extra low sulfur sub-bituminous coal for Taipower thermal ...
Tuesday, 07 October 14
SUB-BIT FOB INDONESIA COAL SWAP SHOWS A FLAT TO WEAK TREND THIS PAST WEEK
COALspot.com: Indonesian coal swaps November 2014 delivery flat week on week and gained US$ 0.10 (-0.20%) per mt day on day. The swap also lost US$ ...
Tuesday, 07 October 14
THE RIO TINTO CONFIRMS THAT NO DISCUSSIONS ARE TAKING PLACE WITH GLENCORE
COALspot.com: The board of Rio Tinto notes the recent press speculation regarding a possible combination of Rio Tinto and Glencore.The Rio Tinto bo ...
Tuesday, 07 October 14
API 8 CFR SOUTH CHINA COAL SWAP HEADED SOUTH
COALspot.com: API 8 CFR South China Coal swap for delivery in November 2014 decreased US$ 1.10 (-1.64%) month over month and US$ 0.25 (-0.38%) ...
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- Port Waratah Coal Services - Australia
- Deloitte Consulting - India
- Madhucon Powers Ltd - India
- Thiess Contractors Indonesia
- Indogreen Group - Indonesia
- Indian Oil Corporation Limited
- Bahari Cakrawala Sebuku - Indonesia
- Riau Bara Harum - Indonesia
- European Bulk Services B.V. - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Directorate General of MIneral and Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Directorate Of Revenue Intelligence - India
- Planning Commission, India
- Sojitz Corporation - Japan
- Ceylon Electricity Board - Sri Lanka
- Australian Coal Association
- Kideco Jaya Agung - Indonesia
- Agrawal Coal Company - India
- Binh Thuan Hamico - Vietnam
- Power Finance Corporation Ltd., India
- Karaikal Port Pvt Ltd - India
- Mintek Dendrill Indonesia
- Kepco SPC Power Corporation, Philippines
- Mercuria Energy - Indonesia
- London Commodity Brokers - England
- Cement Manufacturers Association - India
- LBH Netherlands Bv - Netherlands
- CIMB Investment Bank - Malaysia
- India Bulls Power Limited - India
- Dalmia Cement Bharat India
- Kartika Selabumi Mining - Indonesia
- Heidelberg Cement - Germany
- Makarim & Taira - Indonesia
- Maheswari Brothers Coal Limited - India
- Baramulti Group, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Altura Mining Limited, Indonesia
- Global Business Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Goldman Sachs - Singapore
- Chamber of Mines of South Africa
- White Energy Company Limited
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement PLC, Thailand
- Georgia Ports Authority, United States
- IHS Mccloskey Coal Group - USA
- Barasentosa Lestari - Indonesia
- Larsen & Toubro Limited - India
- Straits Asia Resources Limited - Singapore
- Vedanta Resources Plc - India
- Sakthi Sugars Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Sree Jayajothi Cements Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Banpu Public Company Limited - Thailand
- Anglo American - United Kingdom
- Edison Trading Spa - Italy
- Malabar Cements Ltd - India
- Videocon Industries ltd - India
- Aboitiz Power Corporation - Philippines
- Mercator Lines Limited - India
- Thai Mozambique Logistica
- Australian Commodity Traders Exchange
- Formosa Plastics Group - Taiwan
- Karbindo Abesyapradhi - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Kaltim Prima Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- SMC Global Power, Philippines
- Vizag Seaport Private Limited - India
- Posco Energy - South Korea
- Bhatia International Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Lanco Infratech Ltd - India
- The Treasury - Australian Government
- The University of Queensland
- Bayan Resources Tbk. - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parry Sugars Refinery, India
- Pipit Mutiara Jaya. PT, Indonesia
- San Jose City I Power Corp, Philippines
- Gujarat Sidhee Cement - India
- New Zealand Coal & Carbon
- CNBM International Corporation - China
- Bhoruka Overseas - Indonesia
- Indo Tambangraya Megah - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Aditya Birla Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Krishnapatnam Port Company Ltd. - India
- Bukit Makmur.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Borneo Indobara - Indonesia
- Eastern Energy - Thailand
- Petron Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Indika Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Minerals Council of Australia
- Interocean Group of Companies - India
- Electricity Generating Authority of Thailand
- Ambuja Cements Ltd - India
- Orica Australia Pty. Ltd.
- Energy Development Corp, Philippines
- Sarangani Energy Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Renaissance Capital - South Africa
- ASAPP Information Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Carbofer General Trading SA - India
- Wood Mackenzie - Singapore
- Holcim Trading Pte Ltd - Singapore
- Ministry of Mines - Canada
- Trasteel International SA, Italy
- Petrochimia International Co. Ltd.- Taiwan
- Standard Chartered Bank - UAE
- Central Electricity Authority - India
- Latin American Coal - Colombia
- Tata Chemicals Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Rio Tinto Coal - Australia
- Meralco Power Generation, Philippines
- Star Paper Mills Limited - India
- Globalindo Alam Lestari - Indonesia
- Bangladesh Power Developement Board
- Indian Energy Exchange, India
- SN Aboitiz Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Savvy Resources Ltd - HongKong
- McConnell Dowell - Australia
- Semirara Mining and Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Commonwealth Bank - Australia
- SMG Consultants - Indonesia
- Coastal Gujarat Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Antam Resourcindo - Indonesia
- Central Java Power - Indonesia
- VISA Power Limited - India
- Manunggal Multi Energi - Indonesia
- IEA Clean Coal Centre - UK
- Jaiprakash Power Ventures ltd
- Romanian Commodities Exchange
- Marubeni Corporation - India
- Siam City Cement - Thailand
- Uttam Galva Steels Limited - India
- Tamil Nadu electricity Board
- Africa Commodities Group - South Africa
- Energy Link Ltd, New Zealand
- OPG Power Generation Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Kumho Petrochemical, South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coal and Oil Company - UAE
- The State Trading Corporation of India Ltd
- Metalloyd Limited - United Kingdom
- Iligan Light & Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Independent Power Producers Association of India
- Orica Mining Services - Indonesia
- Merrill Lynch Commodities Europe
- Parliament of New Zealand
- Mjunction Services Limited - India
- PowerSource Philippines DevCo
- Ind-Barath Power Infra Limited - India
- Medco Energi Mining Internasional
- Intertek Mineral Services - Indonesia
- Xindia Steels Limited - India
- Bharathi Cement Corporation - India
- Chettinad Cement Corporation Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining Corp, Philippines
- Therma Luzon, Inc, Philippines
- Sical Logistics Limited - India
- Economic Council, Georgia
- South Luzon Thermal Energy Corporation
- ICICI Bank Limited - India
- Attock Cement Pakistan Limited
- Samtan Co., Ltd - South Korea
- PTC India Limited - India
- GMR Energy Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- GVK Power & Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Ministry of Transport, Egypt
- Rashtriya Ispat Nigam Limited - India
- Electricity Authority, New Zealand
- TeaM Sual Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Timah Investasi Mineral - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Coalindo Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Kobexindo Tractors - Indoneisa
- Sindya Power Generating Company Private Ltd
- MS Steel International - UAE
- Wilmar Investment Holdings
- Oldendorff Carriers - Singapore
- Price Waterhouse Coopers - Russia
- Eastern Coal Council - USA
- Grasim Industreis Ltd - India
- Bhushan Steel Limited - India
- Toyota Tsusho Corporation, Japan
- Indonesian Coal Mining Association
- Singapore Mercantile Exchange
- Simpson Spence & Young - Indonesia
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