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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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Monday, 22 September 14
CFR SOUTH CHINA COAL SWAPS LOST ON DAY, WEEK AND MONTH
COALspot.com: API 8 CFR South China Coal swap for delivery in October 2014 decreased US$ 3.10 (-4.50%) month over month and $ 0.95 PT MT week over ...
Monday, 22 September 14
INDONESIAN COAL SWAPS LOST WEEK ON WEEK AND MONTH OVER MONTH
COALspot.com: Indonesian coal swaps for average October 2014 increased US$ 0.35 (+0.69%) day on day and lost US$ 0.30 (-0.58%) per mt week on week. ...
Sunday, 21 September 14
CAPE INDEX LOST 17% W-O-W ; BALTIC DRY PLUNGES 106 POINTS
COALspot.com: This week the freight market softened a bit compared to last week.
BDI fell 8.97% week on week and closed BDI at 1075 points on ...
Friday, 19 September 14
U.S. WEEKLY COAL PRODUCTION RELATIVELY FLAT AT +0.1% - EIA
COALspot.com – United States the world's second largest coal producer, produced approximately 19.20 million short tons (mmst) of coal in ...
Friday, 19 September 14
PRICES FOR DRY BULK CARRIERS HAVEN'T CORRECTED ENOUGH, DESPITE LOWER THAN EXPECTED FREIGHT RATES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A lot has been said and written about the looming dry bulk market recovery over the past few months. However, even if this hasn’t been materi ...
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- Bukit Baiduri Energy - Indonesia
- The Treasury - Australian Government
- London Commodity Brokers - England
- Thiess Contractors Indonesia
- Edison Trading Spa - Italy
- AsiaOL BioFuels Corp., Philippines
- Alfred C Toepfer International GmbH - Germany
- Holcim Trading Pte Ltd - Singapore
- Iligan Light & Power Inc, Philippines
- Sical Logistics Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Larsen & Toubro Limited - India
- Merrill Lynch Commodities Europe
- PNOC Exploration Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Banpu Public Company Limited - Thailand
- Mintek Dendrill Indonesia
- Thai Mozambique Logistica
- Ministry of Finance - Indonesia
- Siam City Cement PLC, Thailand
- India Bulls Power Limited - India
- Meenaskhi Energy Private Limited - India
- PowerSource Philippines DevCo
- Vedanta Resources Plc - India
- PTC India Limited - India
- Samtan Co., Ltd - South Korea
- Global Coal Blending Company Limited - Australia
- Wilmar Investment Holdings
- Central Electricity Authority - India
- Aboitiz Power Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Kobexindo Tractors - Indoneisa
- Bhushan Steel Limited - India
- Eastern Energy - Thailand
- Ind-Barath Power Infra Limited - India
- TeaM Sual Corporation - Philippines
- Rio Tinto Coal - Australia
- Kumho Petrochemical, South Korea
- Siam City Cement - Thailand
- Electricity Generating Authority of Thailand
- Marubeni Corporation - India
- South Luzon Thermal Energy Corporation
- Gujarat Mineral Development Corp Ltd - India
- Agrawal Coal Company - India
- Kepco SPC Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Carbofer General Trading SA - India
- GVK Power & Infra Limited - India
- Indogreen Group - Indonesia
- Indian Oil Corporation Limited
- Makarim & Taira - Indonesia
- Coastal Gujarat Power Limited - India
- Bhoruka Overseas - Indonesia
- Interocean Group of Companies - India
- Manunggal Multi Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Maheswari Brothers Coal Limited - India
- Antam Resourcindo - Indonesia
- Latin American Coal - Colombia
- Eastern Coal Council - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Deloitte Consulting - India
- Semirara Mining Corp, Philippines
- McConnell Dowell - Australia
- Star Paper Mills Limited - India
- Romanian Commodities Exchange
- GN Power Mariveles Coal Plant, Philippines
- Bayan Resources Tbk. - Indonesia
- Goldman Sachs - Singapore
- Leighton Contractors Pty Ltd - Australia
- ASAPP Information Group - India
- Straits Asia Resources Limited - Singapore
- Bangladesh Power Developement Board
- Cement Manufacturers Association - India
- Mercator Lines Limited - India
- Central Java Power - Indonesia
- Savvy Resources Ltd - HongKong
- Renaissance Capital - South Africa
- IEA Clean Coal Centre - UK
- Xindia Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Authority, New Zealand
- Bukit Makmur.PT - Indonesia
- Ministry of Transport, Egypt
- Bhatia International Limited - India
- Heidelberg Cement - Germany
- Standard Chartered Bank - UAE
- Semirara Mining and Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Mjunction Services Limited - India
- Kartika Selabumi Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Trasteel International SA, Italy
- Malabar Cements Ltd - India
- Minerals Council of Australia
- Power Finance Corporation Ltd., India
- Parry Sugars Refinery, India
- GMR Energy Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Australian Commodity Traders Exchange
- Global Green Power PLC Corporation, Philippines
- Coalindo Energy - Indonesia
- Posco Energy - South Korea
- GAC Shipping (India) Pvt Ltd
- Binh Thuan Hamico - Vietnam
- Dalmia Cement Bharat India
- The University of Queensland
- Kohat Cement Company Ltd. - Pakistan
- Attock Cement Pakistan Limited
- Orica Mining Services - Indonesia
- Commonwealth Bank - Australia
- European Bulk Services B.V. - Netherlands
- Bharathi Cement Corporation - India
- SMC Global Power, Philippines
- White Energy Company Limited
- MS Steel International - UAE
- Simpson Spence & Young - Indonesia
- Intertek Mineral Services - Indonesia
- Sojitz Corporation - Japan
- Port Waratah Coal Services - Australia
- Chamber of Mines of South Africa
- Jaiprakash Power Ventures ltd
- Gujarat Sidhee Cement - India
- Planning Commission, India
- Singapore Mercantile Exchange
- Coal and Oil Company - UAE
- Mercuria Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Aditya Birla Group - India
- VISA Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Development Corp, Philippines
- Ambuja Cements Ltd - India
- Parliament of New Zealand
- New Zealand Coal & Carbon
- Tata Chemicals Ltd - India
- Karaikal Port Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Oldendorff Carriers - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Sarangani Energy Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- Billiton Holdings Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Indika Energy - Indonesia
- The State Trading Corporation of India Ltd
- Barasentosa Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- Toyota Tsusho Corporation, Japan
- Gujarat Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Coal Association
- Ministry of Mines - Canada
- Medco Energi Mining Internasional
- SN Aboitiz Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Meralco Power Generation, Philippines
- OPG Power Generation Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Baramulti Group, Indonesia
- Sree Jayajothi Cements Limited - India
- Price Waterhouse Coopers - Russia
- Petrochimia International Co. Ltd.- Taiwan
- Jindal Steel & Power Ltd - India
- Sindya Power Generating Company Private Ltd
- Indian Energy Exchange, India
- Videocon Industries ltd - India
- Formosa Plastics Group - Taiwan
- ICICI Bank Limited - India
- Ceylon Electricity Board - Sri Lanka
- Lanco Infratech Ltd - India
- Africa Commodities Group - South Africa
- Rashtriya Ispat Nigam Limited - India
- Vizag Seaport Private Limited - India
- Global Business Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Bulk Trading Sa - Switzerland
- Georgia Ports Authority, United States
- Grasim Industreis Ltd - India
- Indonesian Coal Mining Association
- Orica Australia Pty. Ltd.
- Essar Steel Hazira Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Riau Bara Harum - Indonesia
- SMG Consultants - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- International Coal Ventures Pvt Ltd - India
- Tamil Nadu electricity Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sakthi Sugars Limited - India
- Energy Link Ltd, New Zealand
- Petron Corporation, Philippines
- Economic Council, Georgia
- Bahari Cakrawala Sebuku - Indonesia
- Timah Investasi Mineral - Indoneisa
- Borneo Indobara - Indonesia
- CIMB Investment Bank - Malaysia
- Anglo American - United Kingdom
- Independent Power Producers Association of India
- Uttam Galva Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Madhucon Powers Ltd - India
- Salva Resources Pvt Ltd - India
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