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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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Friday, 23 February 24
STRONG OUTLOOK FOR THE TANKER MARKET IN 2024 AND BEYOND - DNV
Several factors have aligned over the past two years to create a robust and profitable market for tanker owners, which is expected to drive newbuil ...
Friday, 23 February 24
AUSTRALIAN COAL FLOWS TO ASIA HOVER ABOVE LAST YEAR’S VOLUME TONNES - SIGNAL GROUP
In the final days of February, the dry bulk freight market appeared to maintain a relatively stable momentum, particularly evident in the large ves ...
Friday, 23 February 24
RUSSIAN COAL SHIPMENTS FALL 14% AS SANCTIONS BITE - BIMCO
During the first seven weeks of 2024, Russian coal shipments have fallen 14% y/y. Volumes have gradually declined since October 2023 when logistica ...
Thursday, 22 February 24
BIMCO PUBLISHES SHIP FINANCING FORMS TO ENSURE UNINTERRUPTED USE OF SHIPS
BIMCO has published two standard Quiet Enjoyment Letters (QELs), the first standard form QELs available to the industry, to offer a tool that can e ...
Monday, 19 February 24
METALS INVESTMENT: THE DARKEST HOUR IS JUST BEFORE THE DAWN - WOOD MACKENZIE
Things often seem at their worst just before they get better. In terms of meeting our net zero 2050 scenario, we’ve reached a watershed momen ...
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Showing 31 to 35 news of total 6871 |
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- Uttam Galva Steels Limited - India
- Formosa Plastics Group - Taiwan
- LBH Netherlands Bv - Netherlands
- Intertek Mineral Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- London Commodity Brokers - England
- PTC India Limited - India
- Iligan Light & Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Mjunction Services Limited - India
- White Energy Company Limited
- Global Coal Blending Company Limited - Australia
- Eastern Coal Council - USA
- GAC Shipping (India) Pvt Ltd
- Bhushan Steel Limited - India
- ASAPP Information Group - India
- Gujarat Mineral Development Corp Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Kaltim Prima Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Heidelberg Cement - Germany
- Asmin Koalindo Tuhup - Indonesia
- Mercuria Energy - Indonesia
- Semirara Mining Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining and Power Corporation, Philippines
- McConnell Dowell - Australia
- Price Waterhouse Coopers - Russia
- Siam City Cement - Thailand
- Coastal Gujarat Power Limited - India
- Independent Power Producers Association of India
- Kapuas Tunggal Persada - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Dalmia Cement Bharat India
- Medco Energi Mining Internasional
- Straits Asia Resources Limited - Singapore
- Indian Oil Corporation Limited
- GN Power Mariveles Coal Plant, Philippines
- India Bulls Power Limited - India
- Port Waratah Coal Services - Australia
- Leighton Contractors Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Coalindo Energy - Indonesia
- SMG Consultants - Indonesia
- Riau Bara Harum - Indonesia
- Carbofer General Trading SA - India
- Economic Council, Georgia
- Vizag Seaport Private Limited - India
- Lanco Infratech Ltd - India
- South Luzon Thermal Energy Corporation
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sojitz Corporation - Japan
- Ind-Barath Power Infra Limited - India
- Savvy Resources Ltd - HongKong
- Vedanta Resources Plc - India
- Holcim Trading Pte Ltd - Singapore
- Edison Trading Spa - Italy
- Altura Mining Limited, Indonesia
- Petron Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- IEA Clean Coal Centre - UK
- Toyota Tsusho Corporation, Japan
- Banpu Public Company Limited - Thailand
- CNBM International Corporation - China
- Parry Sugars Refinery, India
- Siam City Cement PLC, Thailand
- Globalindo Alam Lestari - Indonesia
- Ministry of Transport, Egypt
- The University of Queensland
- Goldman Sachs - Singapore
- Aditya Birla Group - India
- Central Java Power - Indonesia
- Oldendorff Carriers - Singapore
- Australian Commodity Traders Exchange
- Alfred C Toepfer International GmbH - Germany
- Attock Cement Pakistan Limited
- Videocon Industries ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Rio Tinto Coal - Australia
- European Bulk Services B.V. - Netherlands
- Billiton Holdings Pty Ltd - Australia
- Parliament of New Zealand
- SN Aboitiz Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Link Ltd, New Zealand
- Latin American Coal - Colombia
- Romanian Commodities Exchange
- AsiaOL BioFuels Corp., Philippines
- Agrawal Coal Company - India
- IHS Mccloskey Coal Group - USA
- Borneo Indobara - Indonesia
- Tamil Nadu electricity Board
- Global Business Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- New Zealand Coal & Carbon
- Merrill Lynch Commodities Europe
- Baramulti Group, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Chamber of Mines of South Africa
- Bharathi Cement Corporation - India
- Indonesian Coal Mining Association
- Timah Investasi Mineral - Indoneisa
- GMR Energy Limited - India
- Karaikal Port Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Bhatia International Limited - India
- Binh Thuan Hamico - Vietnam
- Indogreen Group - Indonesia
- Energy Development Corp, Philippines
- Thai Mozambique Logistica
- Maharashtra Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Salva Resources Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Indian Energy Exchange, India
- Samtan Co., Ltd - South Korea
- ICICI Bank Limited - India
- Posco Energy - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Tata Chemicals Ltd - India
- Metalloyd Limited - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Xindia Steels Limited - India
- Sical Logistics Limited - India
- Simpson Spence & Young - Indonesia
- Meenaskhi Energy Private Limited - India
- Grasim Industreis Ltd - India
- Bukit Baiduri Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Pipit Mutiara Jaya. PT, Indonesia
- The State Trading Corporation of India Ltd
- PNOC Exploration Corporation - Philippines
- Gujarat Sidhee Cement - India
- Star Paper Mills Limited - India
- Essar Steel Hazira Ltd - India
- Bukit Makmur.PT - Indonesia
- Electricity Generating Authority of Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Cement Manufacturers Association - India
- Mintek Dendrill Indonesia
- Kideco Jaya Agung - Indonesia
- Indo Tambangraya Megah - Indonesia
- Coal and Oil Company - UAE
- Africa Commodities Group - South Africa
- Thiess Contractors Indonesia
- Sarangani Energy Corporation, Philippines
- SMC Global Power, Philippines
- Bayan Resources Tbk. - Indonesia
- Standard Chartered Bank - UAE
- Orica Mining Services - Indonesia
- Eastern Energy - Thailand
- Therma Luzon, Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- MS Steel International - UAE
- Jorong Barutama Greston.PT - Indonesia
- Mercator Lines Limited - India
- International Coal Ventures Pvt Ltd - India
- Sakthi Sugars Limited - India
- San Jose City I Power Corp, Philippines
- Malabar Cements Ltd - India
- Marubeni Corporation - India
- Global Green Power PLC Corporation, Philippines
- Georgia Ports Authority, United States
- Bangladesh Power Developement Board
- Anglo American - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Finance - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chettinad Cement Corporation Ltd - India
- Kepco SPC Power Corporation, Philippines
- Meralco Power Generation, Philippines
- CIMB Investment Bank - Malaysia
- Commonwealth Bank - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The Treasury - Australian Government
- Bulk Trading Sa - Switzerland
- GVK Power & Infra Limited - India
- Makarim & Taira - Indonesia
- Sindya Power Generating Company Private Ltd
- Sinarmas Energy and Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- Ambuja Cements Ltd - India
- Madhucon Powers Ltd - India
- VISA Power Limited - India
- Wilmar Investment Holdings
- Karbindo Abesyapradhi - Indoneisa
- Interocean Group of Companies - India
- Jaiprakash Power Ventures ltd
- Electricity Authority, New Zealand
- Australian Coal Association
- Ministry of Mines - Canada
- Kartika Selabumi Mining - Indonesia
- Antam Resourcindo - Indonesia
- Orica Australia Pty. Ltd.
- Trasteel International SA, Italy
- Aboitiz Power Corporation - Philippines
- Minerals Council of Australia
- Pendopo Energi Batubara - Indonesia
- Planning Commission, India
- Neyveli Lignite Corporation Ltd, - India
- Sree Jayajothi Cements Limited - India
- Singapore Mercantile Exchange
- Wood Mackenzie - Singapore
- Deloitte Consulting - India
- Renaissance Capital - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Manunggal Multi Energi - Indonesia
- PowerSource Philippines DevCo
- Larsen & Toubro Limited - India
- Directorate Of Revenue Intelligence - India
- Indika Energy - Indonesia
- Kumho Petrochemical, South Korea
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