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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, 18 September 14
INDONESIA'S JULY COAL EXPORT VOLUME DROPPED 5.13% M-O-M
COALspot.com: Indonesia, one of the world's largest coal producer and the global leading multi grade coal exporter shipped around $1.65* ...
Thursday, 18 September 14
PANAMAX : US GULF/CHINA FRONTHAUL ARE NOW PAYING TYPICALLY 14.5K + 450K BB - FEARNRESEARCH
Handy
We still see a firming tendency in the Atlantic and it is still ECSA and USG leading on. USG/Cont now up in about USD 17/18k for a Smax whi ...
Thursday, 18 September 14
ELECTRONIC BILLS OF LADING: A GUIDE TO PAPERLESS TRADING WHICH HAS TAKEN THE SHIPPING INDUSTRY BY STORM
Bimco has recently developed and published a charter party clause that specifically addresses the use of electronic bills of lading. Increasing use ...
Wednesday, 17 September 14
PANAMAX: LIMITED INTEREST IN BOTH BASINS; RISING TONNAGE - INTERMODAL
With the week starting off at a fast pace and with the positive momentum from the previous Friday seemingly sticking around for a bit longer, most ...
Wednesday, 17 September 14
SHIPPING MARKET INSIGHT - GEORGE LAZARIDIS
Since the onslaught of 2013 the rising tide of asset prices had been primarily driven by the increasing freight market conditions and the improving ...
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- Sarangani Energy Corporation, Philippines
- Wood Mackenzie - Singapore
- Salva Resources Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Star Paper Mills Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Kobexindo Tractors - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bukit Baiduri Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- MS Steel International - UAE
- Ambuja Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Generating Authority of Thailand
- Coal and Oil Company - UAE
- Baramulti Group, Indonesia
- Kaltim Prima Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Indian Oil Corporation Limited
- Rio Tinto Coal - Australia
- Tamil Nadu electricity Board
- Sindya Power Generating Company Private Ltd
- Mercator Lines Limited - India
- Intertek Mineral Services - Indonesia
- Georgia Ports Authority, United States
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- South Luzon Thermal Energy Corporation
- European Bulk Services B.V. - Netherlands
- PowerSource Philippines DevCo
- Siam City Cement PLC, Thailand
- Africa Commodities Group - South Africa
- Marubeni Corporation - India
- Orica Mining Services - Indonesia
- Energy Development Corp, Philippines
- Price Waterhouse Coopers - Russia
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- Toyota Tsusho Corporation, Japan
- London Commodity Brokers - England
- Holcim Trading Pte Ltd - Singapore
- Directorate Of Revenue Intelligence - India
- Barasentosa Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Independent Power Producers Association of India
- Oldendorff Carriers - Singapore
- Samtan Co., Ltd - South Korea
- Meralco Power Generation, Philippines
- Attock Cement Pakistan Limited
- Formosa Plastics Group - Taiwan
- Ministry of Mines - Canada
- Sinarmas Energy and Mining - Indonesia
- Minerals Council of Australia
- Singapore Mercantile Exchange
- IHS Mccloskey Coal Group - USA
- Bhatia International Limited - India
- Mjunction Services Limited - India
- McConnell Dowell - Australia
- The University of Queensland
- Agrawal Coal Company - India
- Coalindo Energy - Indonesia
- Central Electricity Authority - India
- The State Trading Corporation of India Ltd
- Trasteel International SA, Italy
- Petron Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Xindia Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cement Manufacturers Association - India
- Planning Commission, India
- Dalmia Cement Bharat India
- Global Coal Blending Company Limited - Australia
- Videocon Industries ltd - India
- International Coal Ventures Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Vedanta Resources Plc - India
- Interocean Group of Companies - India
- Standard Chartered Bank - UAE
- New Zealand Coal & Carbon
- Port Waratah Coal Services - Australia
- Jorong Barutama Greston.PT - Indonesia
- Vizag Seaport Private Limited - India
- Eastern Coal Council - USA
- Karbindo Abesyapradhi - Indoneisa
- Chamber of Mines of South Africa
- Bhushan Steel Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- India Bulls Power Limited - India
- Anglo American - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- Karaikal Port Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- GVK Power & Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Banpu Public Company Limited - Thailand
- Commonwealth Bank - Australia
- AsiaOL BioFuels Corp., Philippines
- Madhucon Powers Ltd - India
- Gujarat Sidhee Cement - India
- Deloitte Consulting - India
- Kalimantan Lumbung Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Thai Mozambique Logistica
- Tata Chemicals Ltd - India
- Merrill Lynch Commodities Europe
- Simpson Spence & Young - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Parry Sugars Refinery, India
- Bharathi Cement Corporation - India
- Thiess Contractors Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMC Global Power, Philippines
- Economic Council, Georgia
- GAC Shipping (India) Pvt Ltd
- Indian Energy Exchange, India
- Sree Jayajothi Cements Limited - India
- Lanco Infratech Ltd - India
- Parliament of New Zealand
- Orica Australia Pty. Ltd.
- IEA Clean Coal Centre - UK
- PetroVietnam Power Coal Import and Supply Company
- Alfred C Toepfer International GmbH - Germany
- Bayan Resources Tbk. - Indonesia
- GMR Energy Limited - India
- Ministry of Transport, Egypt
- Siam City Cement - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Finance - Indonesia
- Eastern Energy - Thailand
- SMG Consultants - Indonesia
- Sojitz Corporation - Japan
- Meenaskhi Energy Private Limited - India
- Grasim Industreis Ltd - India
- Sical Logistics Limited - India
- TeaM Sual Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- PTC India Limited - India
- Larsen & Toubro Limited - India
- Power Finance Corporation Ltd., India
- VISA Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Miang Besar Coal Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- The Treasury - Australian Government
- Jaiprakash Power Ventures ltd
- Antam Resourcindo - Indonesia
- Renaissance Capital - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- Kumho Petrochemical, South Korea
- Asmin Koalindo Tuhup - Indonesia
- Savvy Resources Ltd - HongKong
- Pipit Mutiara Jaya. PT, Indonesia
- Bangladesh Power Developement Board
- Energy Link Ltd, New Zealand
- SN Aboitiz Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Wilmar Investment Holdings
- Global Green Power PLC Corporation, Philippines
- Electricity Authority, New Zealand
- Bukit Makmur.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Central Java Power - Indonesia
- Mintek Dendrill Indonesia
- Timah Investasi Mineral - Indoneisa
- Borneo Indobara - Indonesia
- Indika Energy - Indonesia
- Aditya Birla Group - India
- Australian Coal Association
- Kepco SPC Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Essar Steel Hazira Ltd - India
- Bhoruka Overseas - Indonesia
- San Jose City I Power Corp, Philippines
- Heidelberg Cement - Germany
- Riau Bara Harum - Indonesia
- Kartika Selabumi Mining - Indonesia
- Medco Energi Mining Internasional
- Sakthi Sugars Limited - India
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- Carbofer General Trading SA - India
- Semirara Mining Corp, Philippines
- Manunggal Multi Energi - Indonesia
- CNBM International Corporation - China
- Goldman Sachs - Singapore
- ICICI Bank Limited - India
- White Energy Company Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Chettinad Cement Corporation Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Edison Trading Spa - Italy
- Kapuas Tunggal Persada - Indonesia
- Makarim & Taira - Indonesia
- Global Business Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Malabar Cements Ltd - India
- Latin American Coal - Colombia
- Australian Commodity Traders Exchange
- ASAPP Information Group - India
- Indo Tambangraya Megah - Indonesia
- Indogreen Group - Indonesia
- Indonesian Coal Mining Association
- Therma Luzon, Inc, Philippines
- Mercuria Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Romanian Commodities Exchange
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