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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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Wednesday, 03 September 14
CFR S.CHINA COAL SWAP FOR JAN 2015 DELIVERY CLOSED AT $ 68.30 PMT; DOWN 2.43% W-O-W
COALspot.com: API 8 CFR South China Coal swap for delivery in October 2014 decreased US$ 0.95 (-1.39%) day on day and US$ 1.40 (-2.03%) week on wee ...
Tuesday, 02 September 14
BERAU COAL HAS AWARDED A CONTRACT EXTENSION TO BUMA FOR 647 MLN BCM OVERBURDEN REMOVAL
COALspot.com: PT Delta Dunia Makmur Tbk (“DOID”) has announced that its primary operating subsidiary, PT Bukit Makmur Mandiri Utama (&l ...
Monday, 01 September 14
GLOBALCOAL WELCOMES TWO NEW MARKET MEMBERS
COALspot.com: globalCOAL® announced today that two Market Members have joined its trading community. Both new Market Members are from the India ...
Sunday, 31 August 14
COAL FREIGHT RATES INTO INDIA FROM INDONESIA FIRM
COALspot.com: The freight market continued to firm this week. BDI up 5.42 percent week ended 29 August and closed at 1147 points while the Ca ...
Saturday, 30 August 14
INDIAN GOVERNMENT SHOULD TAKE NOTICE: THERMAL COAL IMPORT PRICES EXTREMELY LOW - COMMODORE RESEARCH
COALspot.com: Both Indonesian and Australian thermal coal prices are at the lowest levels seen this decade, with Indonesia's monthly benchmark ...
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- AsiaOL BioFuels Corp., Philippines
- Gujarat Mineral Development Corp Ltd - India
- Medco Energi Mining Internasional
- IEA Clean Coal Centre - UK
- Minerals Council of Australia
- Altura Mining Limited, Indonesia
- Wood Mackenzie - Singapore
- Eastern Energy - Thailand
- Semirara Mining and Power Corporation, Philippines
- Central Electricity Authority - India
- Uttam Galva Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Mercator Lines Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Marubeni Corporation - India
- Malabar Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jaiprakash Power Ventures ltd
- Indo Tambangraya Megah - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Riau Bara Harum - Indonesia
- Sindya Power Generating Company Private Ltd
- Energy Development Corp, Philippines
- Sojitz Corporation - Japan
- LBH Netherlands Bv - Netherlands
- Semirara Mining Corp, Philippines
- Goldman Sachs - Singapore
- Videocon Industries ltd - India
- CIMB Investment Bank - Malaysia
- New Zealand Coal & Carbon
- Electricity Authority, New Zealand
- Gujarat Sidhee Cement - India
- Tata Chemicals Ltd - India
- Indian Oil Corporation Limited
- Miang Besar Coal Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Kobexindo Tractors - Indoneisa
- Georgia Ports Authority, United States
- Borneo Indobara - Indonesia
- Petron Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Africa Commodities Group - South Africa
- Star Paper Mills Limited - India
- SMC Global Power, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Ceylon Electricity Board - Sri Lanka
- Posco Energy - South Korea
- Larsen & Toubro Limited - India
- Therma Luzon, Inc, Philippines
- Bhoruka Overseas - Indonesia
- Grasim Industreis Ltd - India
- Meralco Power Generation, Philippines
- Sinarmas Energy and Mining - Indonesia
- The State Trading Corporation of India Ltd
- Essar Steel Hazira Ltd - India
- Barasentosa Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Parry Sugars Refinery, India
- Mercuria Energy - Indonesia
- Deloitte Consulting - India
- Parliament of New Zealand
- Xindia Steels Limited - India
- Global Business Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Bukit Makmur.PT - Indonesia
- Indogreen Group - Indonesia
- Chettinad Cement Corporation Ltd - India
- India Bulls Power Limited - India
- Baramulti Group, Indonesia
- Formosa Plastics Group - Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Banpu Public Company Limited - Thailand
- Rio Tinto Coal - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indika Energy - Indonesia
- Lanco Infratech Ltd - India
- Bharathi Cement Corporation - India
- Anglo American - United Kingdom
- Carbofer General Trading SA - India
- Vijayanagar Sugar Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Cement Manufacturers Association - India
- Kohat Cement Company Ltd. - Pakistan
- Samtan Co., Ltd - South Korea
- Sical Logistics Limited - India
- Aditya Birla Group - India
- London Commodity Brokers - England
- VISA Power Limited - India
- Siam City Cement - Thailand
- Merrill Lynch Commodities Europe
- Sakthi Sugars Limited - India
- PTC India Limited - India
- Economic Council, Georgia
- SN Aboitiz Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Vedanta Resources Plc - India
- Jorong Barutama Greston.PT - Indonesia
- Singapore Mercantile Exchange
- Bayan Resources Tbk. - Indonesia
- Interocean Group of Companies - India
- Alfred C Toepfer International GmbH - Germany
- Mjunction Services Limited - India
- SMG Consultants - Indonesia
- Independent Power Producers Association of India
- White Energy Company Limited
- The University of Queensland
- Indonesian Coal Mining Association
- IHS Mccloskey Coal Group - USA
- Power Finance Corporation Ltd., India
- Tamil Nadu electricity Board
- Siam City Cement PLC, Thailand
- Energy Link Ltd, New Zealand
- Mintek Dendrill Indonesia
- Meenaskhi Energy Private Limited - India
- Ministry of Finance - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Directorate General of MIneral and Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Indian Energy Exchange, India
- Chamber of Mines of South Africa
- Krishnapatnam Port Company Ltd. - India
- Makarim & Taira - Indonesia
- Bangladesh Power Developement Board
- Commonwealth Bank - Australia
- Central Java Power - Indonesia
- Intertek Mineral Services - Indonesia
- Dalmia Cement Bharat India
- Romanian Commodities Exchange
- Maheswari Brothers Coal Limited - India
- Binh Thuan Hamico - Vietnam
- GVK Power & Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Australian Commodity Traders Exchange
- Antam Resourcindo - Indonesia
- South Luzon Thermal Energy Corporation
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Transport, Egypt
- Price Waterhouse Coopers - Russia
- Thiess Contractors Indonesia
- Holcim Trading Pte Ltd - Singapore
- Latin American Coal - Colombia
- Vizag Seaport Private Limited - India
- Ambuja Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Coal and Oil Company - UAE
- Sree Jayajothi Cements Limited - India
- Australian Coal Association
- Kumho Petrochemical, South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PNOC Exploration Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- European Bulk Services B.V. - Netherlands
- The Treasury - Australian Government
- Coalindo Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Simpson Spence & Young - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- OPG Power Generation Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Bhushan Steel Limited - India
- Renaissance Capital - South Africa
- Rashtriya Ispat Nigam Limited - India
- International Coal Ventures Pvt Ltd - India
- Attock Cement Pakistan Limited
- Madhucon Powers Ltd - India
- Eastern Coal Council - USA
- Global Green Power PLC Corporation, Philippines
- Wilmar Investment Holdings
- Planning Commission, India
- Electricity Generating Authority of Thailand
- Kaltim Prima Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- ICICI Bank Limited - India
- Edison Trading Spa - Italy
- Jindal Steel & Power Ltd - India
- Heidelberg Cement - Germany
- Toyota Tsusho Corporation, Japan
- Cigading International Bulk Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Karaikal Port Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Agrawal Coal Company - India
- Sarangani Energy Corporation, Philippines
- Bhatia International Limited - India
- Orica Mining Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- CNBM International Corporation - China
- Global Coal Blending Company Limited - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- MS Steel International - UAE
- Gujarat Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- ASAPP Information Group - India
- Ministry of Mines - Canada
- Trasteel International SA, Italy
- Port Waratah Coal Services - Australia
- Karbindo Abesyapradhi - Indoneisa
- TeaM Sual Corporation - Philippines
- Orica Australia Pty. Ltd.
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Thai Mozambique Logistica
- Manunggal Multi Energi - Indonesia
- Savvy Resources Ltd - HongKong
- TNB Fuel Sdn Bhd - Malaysia
- McConnell Dowell - Australia
- GMR Energy Limited - India
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