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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, 25 September 14
LACK OF COAL BUSINESS PUSHING DOWN PANAMAX EARNINGS IN PACIFIC
Handy
In the Atlantic we see rates steady climbing upwards. More coal cargoes out of USG and USEC are helping the TA market which is up some USD ...
Wednesday, 24 September 14
ADARO AGREED TO REDUCE ITS CONCESSION AREA TO 31,379.8 HECTARES
COALspot.com: PT Adaro Energy Tbk (Adaro Energy) today announced that, PT Adaro Indonesia (AI), its wholly owned subsidiary, entered into a M ...
Wednesday, 24 September 14
CAPESIZE: ACTIVITY IN BOTH BASINS WAS UNIMPRESSIVE
COALspot.com: The end of the week prior seems to have marked the tone for the days that followed, with the Dry Bulk market giving up a significant ...
Tuesday, 23 September 14
MEDCO TO INCREASE ITS COAL PRODUCTION NEXT YEAR
COALspot.com: PT Medco Energi Internasional is looking to increase its coal production next year, supported by the launch of operations at its Duta ...
Monday, 22 September 14
COAL SECTOR CHAOS - GENESIS TO REVELATION - DIPESH DIPU
COALspot.com: “Let there be light”, intends the government of India but the fuel side of the story paints a blackout. The recent Suprem ...
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- Jorong Barutama Greston.PT - Indonesia
- Salva Resources Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Central Java Power - Indonesia
- Kideco Jaya Agung - Indonesia
- Ministry of Finance - Indonesia
- Coal and Oil Company - UAE
- Barasentosa Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Baramulti Group, Indonesia
- Star Paper Mills Limited - India
- Electricity Authority, New Zealand
- Posco Energy - South Korea
- Kartika Selabumi Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Siam City Cement - Thailand
- Rashtriya Ispat Nigam Limited - India
- Dalmia Cement Bharat India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Krishnapatnam Port Company Ltd. - India
- Global Coal Blending Company Limited - Australia
- Bulk Trading Sa - Switzerland
- Standard Chartered Bank - UAE
- Tamil Nadu electricity Board
- Thai Mozambique Logistica
- Sinarmas Energy and Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Indonesian Coal Mining Association
- Medco Energi Mining Internasional
- Indo Tambangraya Megah - Indonesia
- Kumho Petrochemical, South Korea
- Simpson Spence & Young - Indonesia
- Economic Council, Georgia
- Central Electricity Authority - India
- PowerSource Philippines DevCo
- Maheswari Brothers Coal Limited - India
- Pendopo Energi Batubara - Indonesia
- Minerals Council of Australia
- Cigading International Bulk Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Carbofer General Trading SA - India
- Siam City Cement PLC, Thailand
- Grasim Industreis Ltd - India
- VISA Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Oil Corporation Limited
- GVK Power & Infra Limited - India
- TeaM Sual Corporation - Philippines
- The University of Queensland
- Makarim & Taira - Indonesia
- SN Aboitiz Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Lanco Infratech Ltd - India
- ASAPP Information Group - India
- Samtan Co., Ltd - South Korea
- PNOC Exploration Corporation - Philippines
- McConnell Dowell - Australia
- Bhoruka Overseas - Indonesia
- GMR Energy Limited - India
- Heidelberg Cement - Germany
- Energy Link Ltd, New Zealand
- Chettinad Cement Corporation Ltd - India
- Latin American Coal - Colombia
- Ministry of Transport, Egypt
- GAC Shipping (India) Pvt Ltd
- Eastern Energy - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wood Mackenzie - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- Billiton Holdings Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- Eastern Coal Council - USA
- India Bulls Power Limited - India
- Bhushan Steel Limited - India
- Leighton Contractors Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Indogreen Group - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Rio Tinto Coal - Australia
- Orica Mining Services - Indonesia
- Parliament of New Zealand
- Meenaskhi Energy Private Limited - India
- Timah Investasi Mineral - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- New Zealand Coal & Carbon
- Edison Trading Spa - Italy
- The Treasury - Australian Government
- IEA Clean Coal Centre - UK
- Petron Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Wilmar Investment Holdings
- Madhucon Powers Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Attock Cement Pakistan Limited
- Renaissance Capital - South Africa
- Ceylon Electricity Board - Sri Lanka
- Thiess Contractors Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Trasteel International SA, Italy
- Power Finance Corporation Ltd., India
- Holcim Trading Pte Ltd - Singapore
- Aboitiz Power Corporation - Philippines
- Anglo American - United Kingdom
- Romanian Commodities Exchange
- Sindya Power Generating Company Private Ltd
- Therma Luzon, Inc, Philippines
- Sakthi Sugars Limited - India
- Merrill Lynch Commodities Europe
- PTC India Limited - India
- OPG Power Generation Pvt Ltd - India
- SMC Global Power, Philippines
- Vizag Seaport Private Limited - India
- International Coal Ventures Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Kobexindo Tractors - Indoneisa
- Kaltim Prima Coal - Indonesia
- Independent Power Producers Association of India
- Petrochimia International Co. Ltd.- Taiwan
- Energy Development Corp, Philippines
- Australian Commodity Traders Exchange
- Uttam Galva Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Globalindo Alam Lestari - Indonesia
- Australian Coal Association
- Global Business Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Interocean Group of Companies - India
- Bharathi Cement Corporation - India
- Alfred C Toepfer International GmbH - Germany
- Bhatia International Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Agrawal Coal Company - India
- Malabar Cements Ltd - India
- SMG Consultants - Indonesia
- Aditya Birla Group - India
- CNBM International Corporation - China
- Sical Logistics Limited - India
- Ministry of Mines - Canada
- Oldendorff Carriers - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Toyota Tsusho Corporation, Japan
- Singapore Mercantile Exchange
- Semirara Mining and Power Corporation, Philippines
- White Energy Company Limited
- Kohat Cement Company Ltd. - Pakistan
- Bukit Makmur.PT - Indonesia
- Georgia Ports Authority, United States
- IHS Mccloskey Coal Group - USA
- Orica Australia Pty. Ltd.
- Planning Commission, India
- Sarangani Energy Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Kapuas Tunggal Persada - Indonesia
- Kepco SPC Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Meralco Power Generation, Philippines
- Electricity Generating Authority of Thailand
- Global Green Power PLC Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Formosa Plastics Group - Taiwan
- Port Waratah Coal Services - Australia
- Goldman Sachs - Singapore
- Commonwealth Bank - Australia
- Deloitte Consulting - India
- Bangladesh Power Developement Board
- ICICI Bank Limited - India
- Bukit Baiduri Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Semirara Mining Corp, Philippines
- South Luzon Thermal Energy Corporation
- Borneo Indobara - Indonesia
- Sree Jayajothi Cements Limited - India
- Videocon Industries ltd - India
- Gujarat Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Mercuria Energy - Indonesia
- Larsen & Toubro Limited - India
- Jindal Steel & Power Ltd - India
- Karaikal Port Pvt Ltd - India
- Coalindo Energy - Indonesia
- Mercator Lines Limited - India
- Marubeni Corporation - India
- Gujarat Sidhee Cement - India
- Cement Manufacturers Association - India
- Chamber of Mines of South Africa
- MS Steel International - UAE
- Manunggal Multi Energi - Indonesia
- Indian Energy Exchange, India
- London Commodity Brokers - England
- San Jose City I Power Corp, Philippines
- Mintek Dendrill Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- Ind-Barath Power Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Iligan Light & Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Indika Energy - Indonesia
- Africa Commodities Group - South Africa
- Vedanta Resources Plc - India
- Mjunction Services Limited - India
- Parry Sugars Refinery, India
- Price Waterhouse Coopers - Russia
- Xindia Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Pipit Mutiara Jaya. PT, Indonesia
- Straits Asia Resources Limited - Singapore
- Riau Bara Harum - Indonesia
- Antam Resourcindo - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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