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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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Saturday, 27 September 14
MORE COAL MINERS AGREE TO AMEND CONTRACTS - THE JAKARTA POST
The Energy and Mineral Resources Ministry is in a rush to beat a deadline for the conclusion of numerous memorandums of understanding (MoUs) with t ...
Friday, 26 September 14
INDIA SUPREME COURT RULING TO HIT STEEL, UTILITY EARNINGS, SAYS FITCH
COALspot.com: The 24 September Supreme Court of India (SCI) decision to cancel almost every coal block allocation since 1993 will have a negative f ...
Friday, 26 September 14
U.S WEEKLY COAL PRODUCTION FELL 1.8% WEEK OVER WEEK, SAYS EIA
COALspot.com – United States the world's one of largest coal producers, produced approximately 18.80 million short tons (mmst) of c ...
Friday, 26 September 14
ORACLE SIGNS EPC FRAMEWORK AGREEMENT WITH SEPCO FOR COAL MINE AND POWER PLANT IN PAKISTAN
COALspot.com: Oracle Coalfields PLC, the UK developer of a lignite coal mine and power plant in the south-eastern Sindh Province, Pakistan, has ann ...
Friday, 26 September 14
NEWCASTLMAXES ARE THE MOST SOUGHT AFTER VESSELS BY SHIP OWNERS TODAY SAYS VESSELS VALUE
KNOWLEDGE TO ELEVATE
Determining a ship’s fair value can be a very tricky business, especially when you’re the one paying. As such ...
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- Planning Commission, India
- Coastal Gujarat Power Limited - India
- Vedanta Resources Plc - India
- CIMB Investment Bank - Malaysia
- Carbofer General Trading SA - India
- GVK Power & Infra Limited - India
- White Energy Company Limited
- Port Waratah Coal Services - Australia
- PowerSource Philippines DevCo
- Minerals Council of Australia
- Attock Cement Pakistan Limited
- Latin American Coal - Colombia
- Coal and Oil Company - UAE
- Therma Luzon, Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Edison Trading Spa - Italy
- Medco Energi Mining Internasional
- Alfred C Toepfer International GmbH - Germany
- Independent Power Producers Association of India
- Rio Tinto Coal - Australia
- Savvy Resources Ltd - HongKong
- Bukit Makmur.PT - Indonesia
- Renaissance Capital - South Africa
- Ministry of Transport, Egypt
- Tamil Nadu electricity Board
- PetroVietnam Power Coal Import and Supply Company
- Sical Logistics Limited - India
- Bhatia International Limited - India
- Karaikal Port Pvt Ltd - India
- Mercator Lines Limited - India
- Essar Steel Hazira Ltd - India
- Indogreen Group - Indonesia
- Trasteel International SA, Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PNOC Exploration Corporation - Philippines
- Parry Sugars Refinery, India
- Cigading International Bulk Terminal - Indonesia
- Star Paper Mills Limited - India
- Baramulti Group, Indonesia
- Global Coal Blending Company Limited - Australia
- ICICI Bank Limited - India
- Videocon Industries ltd - India
- Madhucon Powers Ltd - India
- TeaM Sual Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Borneo Indobara - Indonesia
- Barasentosa Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Goldman Sachs - Singapore
- Pendopo Energi Batubara - Indonesia
- Agrawal Coal Company - India
- Aboitiz Power Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Coalindo Energy - Indonesia
- Bharathi Cement Corporation - India
- The State Trading Corporation of India Ltd
- London Commodity Brokers - England
- Eastern Coal Council - USA
- Krishnapatnam Port Company Ltd. - India
- Kideco Jaya Agung - Indonesia
- MS Steel International - UAE
- ASAPP Information Group - India
- Billiton Holdings Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Bhushan Steel Limited - India
- New Zealand Coal & Carbon
- SMG Consultants - Indonesia
- Sojitz Corporation - Japan
- Maheswari Brothers Coal Limited - India
- Siam City Cement - Thailand
- Makarim & Taira - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Global Business Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Intertek Mineral Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mjunction Services Limited - India
- Jindal Steel & Power Ltd - India
- Dalmia Cement Bharat India
- Siam City Cement PLC, Thailand
- Semirara Mining and Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Australian Commodity Traders Exchange
- Singapore Mercantile Exchange
- Marubeni Corporation - India
- Sindya Power Generating Company Private Ltd
- Parliament of New Zealand
- Mercuria Energy - Indonesia
- Grasim Industreis Ltd - India
- Toyota Tsusho Corporation, Japan
- Salva Resources Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Indian Oil Corporation Limited
- Riau Bara Harum - Indonesia
- LBH Netherlands Bv - Netherlands
- Cement Manufacturers Association - India
- Georgia Ports Authority, United States
- European Bulk Services B.V. - Netherlands
- Economic Council, Georgia
- Sinarmas Energy and Mining - Indonesia
- Larsen & Toubro Limited - India
- International Coal Ventures Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Xindia Steels Limited - India
- Wood Mackenzie - Singapore
- Aditya Birla Group - India
- SMC Global Power, Philippines
- Kartika Selabumi Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Sree Jayajothi Cements Limited - India
- IHS Mccloskey Coal Group - USA
- Interocean Group of Companies - India
- Bangladesh Power Developement Board
- Directorate Of Revenue Intelligence - India
- Manunggal Multi Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- The Treasury - Australian Government
- Maharashtra Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Kumho Petrochemical, South Korea
- Indo Tambangraya Megah - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bulk Trading Sa - Switzerland
- Holcim Trading Pte Ltd - Singapore
- Miang Besar Coal Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Uttam Galva Steels Limited - India
- Standard Chartered Bank - UAE
- Gujarat Mineral Development Corp Ltd - India
- Orica Australia Pty. Ltd.
- Asmin Koalindo Tuhup - Indonesia
- Indian Energy Exchange, India
- Malabar Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- PTC India Limited - India
- Thiess Contractors Indonesia
- Orica Mining Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Lanco Infratech Ltd - India
- Australian Coal Association
- Jaiprakash Power Ventures ltd
- Chamber of Mines of South Africa
- Semirara Mining Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Java Power - Indonesia
- GMR Energy Limited - India
- Romanian Commodities Exchange
- Mintek Dendrill Indonesia
- Heidelberg Cement - Germany
- Gujarat Sidhee Cement - India
- Simpson Spence & Young - Indonesia
- Metalloyd Limited - United Kingdom
- CNBM International Corporation - China
- Thai Mozambique Logistica
- Ministry of Mines - Canada
- Africa Commodities Group - South Africa
- Sarangani Energy Corporation, Philippines
- Price Waterhouse Coopers - Russia
- India Bulls Power Limited - India
- Deloitte Consulting - India
- Oldendorff Carriers - Singapore
- Eastern Energy - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Petron Corporation, Philippines
- Merrill Lynch Commodities Europe
- Central Electricity Authority - India
- South Luzon Thermal Energy Corporation
- Kohat Cement Company Ltd. - Pakistan
- The University of Queensland
- Meenaskhi Energy Private Limited - India
- SN Aboitiz Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Antam Resourcindo - Indonesia
- Sakthi Sugars Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Wilmar Investment Holdings
- Electricity Authority, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Finance - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indika Energy - Indonesia
- Energy Link Ltd, New Zealand
- Ambuja Cements Ltd - India
- Vizag Seaport Private Limited - India
- Formosa Plastics Group - Taiwan
- Kalimantan Lumbung Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Energy Development Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- VISA Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- McConnell Dowell - Australia
- Meralco Power Generation, Philippines
- Commonwealth Bank - Australia
- Samtan Co., Ltd - South Korea
- Electricity Generating Authority of Thailand
- Banpu Public Company Limited - Thailand
- Bhoruka Overseas - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Anglo American - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- Tata Chemicals Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Power Finance Corporation Ltd., India
- Straits Asia Resources Limited - Singapore
- Karbindo Abesyapradhi - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Posco Energy - South Korea
- Altura Mining Limited, Indonesia
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