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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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Tuesday, 16 September 14
INDONESIAN GOVERNMENT DECLARED HBA SUFFERED ANOTHER SETBACK IN SEPTEMBER
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia revised down the coal bench mark price once again in September. HBA for ...
Tuesday, 16 September 14
INDONESIAN COAL OUTPUT WON'T EXCEED 421M TONS: GOVT - JP
The government is optimistic that it will meet its coal production target for this year, which caps nationwide production at a flat number compared ...
Monday, 15 September 14
CHINA'S COAL PROPOSALS LEAVE SOME HOPE FOR EXPORTERS - DAILY NEWS
When the best thing you can say about new policies is that they aren’t as bad as they could have been, then you know your industry is in deep ...
Monday, 15 September 14
SUB-BIT FOB INDONESIA COAL SWAP, JANUARY 2015 DELIVERY GAINED DAY ON DAY AND WEEK ON WEEK
COALspot.com: Indonesian coal swaps for average October 2014 increased US$ 0.40 (+0.78%) day on day and US$ 0.55 (+1.08%) per mt week on week. The ...
Monday, 15 September 14
CFR SOUTH CHINA COAL SWAP GAINED DAY ON DAY AND WEEK ON WEEK
COALspot.com: API 8 CFR South China Coal swap for delivery in October 2014 decreased US$ 2.30 (-3.36%) month over month, but increased day on day a ...
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- Malabar Cements Ltd - India
- Electricity Authority, New Zealand
- Wood Mackenzie - Singapore
- Samtan Co., Ltd - South Korea
- Bangladesh Power Developement Board
- Borneo Indobara - Indonesia
- Meralco Power Generation, Philippines
- Sojitz Corporation - Japan
- TeaM Sual Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
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- Holcim Trading Pte Ltd - Singapore
- Alfred C Toepfer International GmbH - Germany
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- Africa Commodities Group - South Africa
- Mintek Dendrill Indonesia
- Bayan Resources Tbk. - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Australian Coal Association
- Jindal Steel & Power Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Baramulti Group, Indonesia
- Vedanta Resources Plc - India
- Toyota Tsusho Corporation, Japan
- Kartika Selabumi Mining - Indonesia
- Makarim & Taira - Indonesia
- Port Waratah Coal Services - Australia
- GAC Shipping (India) Pvt Ltd
- Central Java Power - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate Of Revenue Intelligence - India
- Agrawal Coal Company - India
- Posco Energy - South Korea
- Manunggal Multi Energi - Indonesia
- Indonesian Coal Mining Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- CIMB Investment Bank - Malaysia
- LBH Netherlands Bv - Netherlands
- Energy Link Ltd, New Zealand
- Eastern Coal Council - USA
- International Coal Ventures Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- Gujarat Mineral Development Corp Ltd - India
- PNOC Exploration Corporation - Philippines
- MS Steel International - UAE
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement - Thailand
- New Zealand Coal & Carbon
- Miang Besar Coal Terminal - Indonesia
- PTC India Limited - India
- Karaikal Port Pvt Ltd - India
- Bhatia International Limited - India
- Meenaskhi Energy Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Gujarat Sidhee Cement - India
- Sical Logistics Limited - India
- VISA Power Limited - India
- Coastal Gujarat Power Limited - India
- Bulk Trading Sa - Switzerland
- Tamil Nadu electricity Board
- Ind-Barath Power Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Sree Jayajothi Cements Limited - India
- Mjunction Services Limited - India
- Deloitte Consulting - India
- Videocon Industries ltd - India
- Coal and Oil Company - UAE
- Thiess Contractors Indonesia
- Cement Manufacturers Association - India
- Pendopo Energi Batubara - Indonesia
- Intertek Mineral Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- PowerSource Philippines DevCo
- Kalimantan Lumbung Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Anglo American - United Kingdom
- Jaiprakash Power Ventures ltd
- Heidelberg Cement - Germany
- SMG Consultants - Indonesia
- Wilmar Investment Holdings
- Mercator Lines Limited - India
- Salva Resources Pvt Ltd - India
- The Treasury - Australian Government
- Pipit Mutiara Jaya. PT, Indonesia
- Aditya Birla Group - India
- Globalindo Alam Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- Kumho Petrochemical, South Korea
- Orica Australia Pty. Ltd.
- Iligan Light & Power Inc, Philippines
- Madhucon Powers Ltd - India
- Petron Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhushan Steel Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Global Business Power Corporation, Philippines
- Energy Development Corp, Philippines
- Indika Energy - Indonesia
- ICICI Bank Limited - India
- Vizag Seaport Private Limited - India
- Kideco Jaya Agung - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Ministry of Transport, Egypt
- Merrill Lynch Commodities Europe
- IEA Clean Coal Centre - UK
- Sakthi Sugars Limited - India
- Planning Commission, India
- Ambuja Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Chamber of Mines of South Africa
- Metalloyd Limited - United Kingdom
- Siam City Cement PLC, Thailand
- Kaltim Prima Coal - Indonesia
- Therma Luzon, Inc, Philippines
- CNBM International Corporation - China
- San Jose City I Power Corp, Philippines
- Australian Commodity Traders Exchange
- Kapuas Tunggal Persada - Indonesia
- Parliament of New Zealand
- Karbindo Abesyapradhi - Indoneisa
- IHS Mccloskey Coal Group - USA
- Tata Chemicals Ltd - India
- Barasentosa Lestari - Indonesia
- Oldendorff Carriers - Singapore
- White Energy Company Limited
- Goldman Sachs - Singapore
- Grasim Industreis Ltd - India
- GVK Power & Infra Limited - India
- Renaissance Capital - South Africa
- Xindia Steels Limited - India
- Simpson Spence & Young - Indonesia
- Banpu Public Company Limited - Thailand
- Georgia Ports Authority, United States
- Attock Cement Pakistan Limited
- Global Green Power PLC Corporation, Philippines
- Dalmia Cement Bharat India
- Ministry of Mines - Canada
- Savvy Resources Ltd - HongKong
- Thai Mozambique Logistica
- Sindya Power Generating Company Private Ltd
- Indian Oil Corporation Limited
- Directorate General of MIneral and Coal - Indonesia
- Trasteel International SA, Italy
- Carbofer General Trading SA - India
- AsiaOL BioFuels Corp., Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Edison Trading Spa - Italy
- Singapore Mercantile Exchange
- Rio Tinto Coal - Australia
- Riau Bara Harum - Indonesia
- Binh Thuan Hamico - Vietnam
- Mercuria Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Uttam Galva Steels Limited - India
- Star Paper Mills Limited - India
- India Bulls Power Limited - India
- Altura Mining Limited, Indonesia
- Medco Energi Mining Internasional
- The University of Queensland
- Essar Steel Hazira Ltd - India
- Romanian Commodities Exchange
- Minerals Council of Australia
- Kepco SPC Power Corporation, Philippines
- GMR Energy Limited - India
- Lanco Infratech Ltd - India
- Bharathi Cement Corporation - India
- Economic Council, Georgia
- Straits Asia Resources Limited - Singapore
- Parry Sugars Refinery, India
- Interocean Group of Companies - India
- Ministry of Finance - Indonesia
- Bhoruka Overseas - Indonesia
- OPG Power Generation Pvt Ltd - India
- Coalindo Energy - Indonesia
- Eastern Energy - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- Kobexindo Tractors - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining Corp, Philippines
- Indian Energy Exchange, India
- Central Electricity Authority - India
- ASAPP Information Group - India
- The State Trading Corporation of India Ltd
- European Bulk Services B.V. - Netherlands
- Power Finance Corporation Ltd., India
- Antam Resourcindo - Indonesia
- Aboitiz Power Corporation - Philippines
- SMC Global Power, Philippines
- Indogreen Group - Indonesia
- Commonwealth Bank - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Sarangani Energy Corporation, Philippines
- Orica Mining Services - Indonesia
- Electricity Generating Authority of Thailand
- Gujarat Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- Larsen & Toubro Limited - India
- Bukit Baiduri Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Indo Tambangraya Megah - Indonesia
- McConnell Dowell - Australia
- Latin American Coal - Colombia
- Standard Chartered Bank - UAE
- Semirara Mining and Power Corporation, Philippines
- Independent Power Producers Association of India
- Kohat Cement Company Ltd. - Pakistan
- Marubeni Corporation - India
- Timah Investasi Mineral - Indoneisa
- London Commodity Brokers - England
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