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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, 09 September 14
PORT OF NEWCASTLE SHIPPED 13.207 MTN OF COAL IN AUGUST; TRADE VALUE AROUND $1.17 BILLION
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port, has shipped $1.17 billio ...
Monday, 08 September 14
SUB-BIT FOB INDONESIA COAL SWAP UNDERPERFORMED LAST WEEK
COALspot.com: Indonesian coal swaps for average October 2014 decreased US$ 0.20 (-0.39%) day on day and US$ 1.60 (-3.04%) per mt week on week. The ...
Monday, 08 September 14
API 8 CFR SOUTH CHINA COAL SWAP FOR DELIVERY JAN'15 CLOSED AT US$ 66.30 PMT W/E 5 SEPTEMBER 2014; LOST 5.15% M-O-M
COALspot.com: API 8 CFR South China Coal swap for delivery in October 2014 decreased US$ 0.15 (-0.23%) day on day and US$ 2.05 (-3.04%) week on wee ...
Monday, 08 September 14
CHINESE IRON ORE IMPORT DEMAND VERY STRONG - COMMODORE
COALspot.com: 30 dry bulk vessels were chartered in the spot iron ore market last week to haul iron ore import cargoes to Chinese buyers.
Acco ...
Sunday, 07 September 14
FREIGHT MARKET CONTINUED TO BE FIRM IN SPITE OF CAPE'S THIS WEEK'S WEAK PERFORMANCE
COALspot.com: BDI up by 0.7 pct week on week and closed at 1155 points this week. The Baltic Dry Index is a composite of three sub-indexes that mea ...
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- Minerals Council of Australia
- Interocean Group of Companies - India
- Krishnapatnam Port Company Ltd. - India
- Lanco Infratech Ltd - India
- Metalloyd Limited - United Kingdom
- Heidelberg Cement - Germany
- Parliament of New Zealand
- Banpu Public Company Limited - Thailand
- International Coal Ventures Pvt Ltd - India
- Indonesian Coal Mining Association
- Bukit Makmur.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Chamber of Mines of South Africa
- Power Finance Corporation Ltd., India
- Kaltim Prima Coal - Indonesia
- Deloitte Consulting - India
- Sarangani Energy Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- India Bulls Power Limited - India
- Goldman Sachs - Singapore
- Bulk Trading Sa - Switzerland
- PetroVietnam Power Coal Import and Supply Company
- Savvy Resources Ltd - HongKong
- South Luzon Thermal Energy Corporation
- Trasteel International SA, Italy
- Asmin Koalindo Tuhup - Indonesia
- Aditya Birla Group - India
- Marubeni Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Energy - Thailand
- Energy Link Ltd, New Zealand
- Independent Power Producers Association of India
- SN Aboitiz Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- San Jose City I Power Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bhoruka Overseas - Indonesia
- Jindal Steel & Power Ltd - India
- Globalindo Alam Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Jorong Barutama Greston.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Tata Chemicals Ltd - India
- Coal and Oil Company - UAE
- Cement Manufacturers Association - India
- Bahari Cakrawala Sebuku - Indonesia
- Mercuria Energy - Indonesia
- New Zealand Coal & Carbon
- Siam City Cement - Thailand
- Central Electricity Authority - India
- Xindia Steels Limited - India
- Formosa Plastics Group - Taiwan
- Dalmia Cement Bharat India
- IEA Clean Coal Centre - UK
- Mercator Lines Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Generating Authority of Thailand
- The University of Queensland
- Kumho Petrochemical, South Korea
- Global Coal Blending Company Limited - Australia
- Gujarat Sidhee Cement - India
- Merrill Lynch Commodities Europe
- The State Trading Corporation of India Ltd
- Neyveli Lignite Corporation Ltd, - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vedanta Resources Plc - India
- ICICI Bank Limited - India
- Indian Oil Corporation Limited
- Thai Mozambique Logistica
- Indika Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Riau Bara Harum - Indonesia
- Wilmar Investment Holdings
- Georgia Ports Authority, United States
- Malabar Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Grasim Industreis Ltd - India
- ASAPP Information Group - India
- Ind-Barath Power Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- Standard Chartered Bank - UAE
- Semirara Mining Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Salva Resources Pvt Ltd - India
- GVK Power & Infra Limited - India
- Oldendorff Carriers - Singapore
- Eastern Coal Council - USA
- LBH Netherlands Bv - Netherlands
- Madhucon Powers Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Singapore Mercantile Exchange
- Intertek Mineral Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Finance - Indonesia
- Bharathi Cement Corporation - India
- Indogreen Group - Indonesia
- Romanian Commodities Exchange
- Planning Commission, India
- GN Power Mariveles Coal Plant, Philippines
- Wood Mackenzie - Singapore
- GAC Shipping (India) Pvt Ltd
- Rashtriya Ispat Nigam Limited - India
- Edison Trading Spa - Italy
- GMR Energy Limited - India
- McConnell Dowell - Australia
- Meralco Power Generation, Philippines
- SMG Consultants - Indonesia
- Siam City Cement PLC, Thailand
- Indo Tambangraya Megah - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Borneo Indobara - Indonesia
- Makarim & Taira - Indonesia
- Electricity Authority, New Zealand
- Posco Energy - South Korea
- Timah Investasi Mineral - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Mintek Dendrill Indonesia
- Larsen & Toubro Limited - India
- Mjunction Services Limited - India
- Antam Resourcindo - Indonesia
- TeaM Sual Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Petron Corporation, Philippines
- Orica Australia Pty. Ltd.
- Star Paper Mills Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The Treasury - Australian Government
- Parry Sugars Refinery, India
- Toyota Tsusho Corporation, Japan
- Energy Development Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- White Energy Company Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Commodity Traders Exchange
- Straits Asia Resources Limited - Singapore
- Meenaskhi Energy Private Limited - India
- Directorate Of Revenue Intelligence - India
- Gujarat Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Medco Energi Mining Internasional
- Directorate General of MIneral and Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Global Business Power Corporation, Philippines
- Agrawal Coal Company - India
- Coalindo Energy - Indonesia
- Bhatia International Limited - India
- Economic Council, Georgia
- Latin American Coal - Colombia
- Karaikal Port Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Ministry of Transport, Egypt
- Videocon Industries ltd - India
- OPG Power Generation Pvt Ltd - India
- Sojitz Corporation - Japan
- PTC India Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhushan Steel Limited - India
- Aboitiz Power Corporation - Philippines
- VISA Power Limited - India
- Central Java Power - Indonesia
- PowerSource Philippines DevCo
- London Commodity Brokers - England
- Ministry of Mines - Canada
- Jaiprakash Power Ventures ltd
- TNB Fuel Sdn Bhd - Malaysia
- Africa Commodities Group - South Africa
- Billiton Holdings Pty Ltd - Australia
- Indian Energy Exchange, India
- Kartika Selabumi Mining - Indonesia
- Carbofer General Trading SA - India
- Bangladesh Power Developement Board
- Simpson Spence & Young - Indonesia
- CNBM International Corporation - China
- Ceylon Electricity Board - Sri Lanka
- European Bulk Services B.V. - Netherlands
- Orica Mining Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sakthi Sugars Limited - India
- Australian Coal Association
- Miang Besar Coal Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Kepco SPC Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Essar Steel Hazira Ltd - India
- Thiess Contractors Indonesia
- Renaissance Capital - South Africa
- PNOC Exploration Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Binh Thuan Hamico - Vietnam
- Sical Logistics Limited - India
- Rio Tinto Coal - Australia
- Price Waterhouse Coopers - Russia
- Port Waratah Coal Services - Australia
- Uttam Galva Steels Limited - India
- CIMB Investment Bank - Malaysia
- Baramulti Group, Indonesia
- Ambuja Cements Ltd - India
- MS Steel International - UAE
- Coastal Gujarat Power Limited - India
- Sree Jayajothi Cements Limited - India
- Sindya Power Generating Company Private Ltd
- Tamil Nadu electricity Board
- Attock Cement Pakistan Limited
- Karbindo Abesyapradhi - Indoneisa
- Commonwealth Bank - Australia
- Anglo American - United Kingdom
- SMC Global Power, Philippines
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