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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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Saturday, 30 August 14
RECOVERY IN SIGHT FOR THE DRY BULK SHIPPING MARKET - DREWRY SHIPPING CONSULTANTS
Despite weak freight rates so far this year, Dry Bulk shipping earnings are forecast to recover as demand for both major and minor bulk commodities ...
Friday, 29 August 14
U.S. WEEKLY COAL PRODUCTION DROPS 1.3 PERCENT, EIA SAYS
COALspot.com – United States the world's second largest coal producer, produced approximately 19.40 million short tons (mmst) of coal in ...
Friday, 29 August 14
ADARO'S PROFITS SINK FURTHER AMID FALL IN COAL PRICES - JP
Adaro Energy, one of the country’s largest coal miners, has reported a 31 percent drop in net profit in the first half of this year as global ...
Friday, 29 August 14
CHINESE LIGNITE IMPORTS: QUANTITY OVER QUALITY? - CLARKSONS
In the first half of 2014, Chinese seaborne coal imports declined 0.4% y-o-y to 148mt, largely reflecting a 3.3% fall in imports of steam coal. Mea ...
Thursday, 28 August 14
PANAMAX: OWNERS CAN GET AROUND USD 16000 FOR A FRONTHAUL; PERIOD MARKET - VERY QUIET - FEARNLEYS
Handy
The activity and sentiment is improving in the Atlantic with the general TA rate is up about US$ 800 w-o-w. We see more South American carg ...
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- Kideco Jaya Agung - Indonesia
- Romanian Commodities Exchange
- Salva Resources Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Baramulti Group, Indonesia
- PTC India Limited - India
- Jaiprakash Power Ventures ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Minerals Council of Australia
- Binh Thuan Hamico - Vietnam
- Toyota Tsusho Corporation, Japan
- Kaltim Prima Coal - Indonesia
- Ministry of Transport, Egypt
- PetroVietnam Power Coal Import and Supply Company
- Kepco SPC Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Antam Resourcindo - Indonesia
- Bayan Resources Tbk. - Indonesia
- Globalindo Alam Lestari - Indonesia
- Anglo American - United Kingdom
- Port Waratah Coal Services - Australia
- Neyveli Lignite Corporation Ltd, - India
- Lanco Infratech Ltd - India
- GVK Power & Infra Limited - India
- Ind-Barath Power Infra Limited - India
- Indian Oil Corporation Limited
- AsiaOL BioFuels Corp., Philippines
- Australian Commodity Traders Exchange
- Metalloyd Limited - United Kingdom
- Makarim & Taira - Indonesia
- PowerSource Philippines DevCo
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bulk Trading Sa - Switzerland
- Heidelberg Cement - Germany
- Edison Trading Spa - Italy
- Aboitiz Power Corporation - Philippines
- Parry Sugars Refinery, India
- Vedanta Resources Plc - India
- Thiess Contractors Indonesia
- Ministry of Finance - Indonesia
- Bukit Baiduri Energy - Indonesia
- VISA Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Authority, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Carbofer General Trading SA - India
- Indo Tambangraya Megah - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Independent Power Producers Association of India
- Commonwealth Bank - Australia
- Indonesian Coal Mining Association
- Xindia Steels Limited - India
- Global Business Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Ambuja Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Krishnapatnam Port Company Ltd. - India
- Dalmia Cement Bharat India
- Grasim Industreis Ltd - India
- Siam City Cement - Thailand
- Interocean Group of Companies - India
- Bangladesh Power Developement Board
- Sindya Power Generating Company Private Ltd
- Vizag Seaport Private Limited - India
- GMR Energy Limited - India
- Goldman Sachs - Singapore
- Electricity Generating Authority of Thailand
- Bhatia International Limited - India
- Attock Cement Pakistan Limited
- London Commodity Brokers - England
- GAC Shipping (India) Pvt Ltd
- Sarangani Energy Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wilmar Investment Holdings
- SMG Consultants - Indonesia
- Savvy Resources Ltd - HongKong
- Siam City Cement PLC, Thailand
- Formosa Plastics Group - Taiwan
- Cement Manufacturers Association - India
- Banpu Public Company Limited - Thailand
- Renaissance Capital - South Africa
- India Bulls Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- The Treasury - Australian Government
- Kalimantan Lumbung Energi - Indonesia
- Samtan Co., Ltd - South Korea
- Barasentosa Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Singapore Mercantile Exchange
- Wood Mackenzie - Singapore
- Standard Chartered Bank - UAE
- Malabar Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Mjunction Services Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Videocon Industries ltd - India
- Posco Energy - South Korea
- Essar Steel Hazira Ltd - India
- OPG Power Generation Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Indika Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Planning Commission, India
- The University of Queensland
- Thai Mozambique Logistica
- Indogreen Group - Indonesia
- Borneo Indobara - Indonesia
- Kumho Petrochemical, South Korea
- Energy Development Corp, Philippines
- SMC Global Power, Philippines
- White Energy Company Limited
- Petron Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Orica Mining Services - Indonesia
- Gujarat Sidhee Cement - India
- McConnell Dowell - Australia
- Star Paper Mills Limited - India
- Energy Link Ltd, New Zealand
- Bharathi Cement Corporation - India
- CNBM International Corporation - China
- MS Steel International - UAE
- Mintek Dendrill Indonesia
- Sree Jayajothi Cements Limited - India
- Kartika Selabumi Mining - Indonesia
- Madhucon Powers Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Therma Luzon, Inc, Philippines
- Trasteel International SA, Italy
- IHS Mccloskey Coal Group - USA
- Mercator Lines Limited - India
- Larsen & Toubro Limited - India
- The State Trading Corporation of India Ltd
- Riau Bara Harum - Indonesia
- Straits Asia Resources Limited - Singapore
- Simpson Spence & Young - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maheswari Brothers Coal Limited - India
- Holcim Trading Pte Ltd - Singapore
- Sical Logistics Limited - India
- IEA Clean Coal Centre - UK
- Power Finance Corporation Ltd., India
- Kobexindo Tractors - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Marubeni Corporation - India
- Merrill Lynch Commodities Europe
- European Bulk Services B.V. - Netherlands
- Georgia Ports Authority, United States
- ICICI Bank Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Central Java Power - Indonesia
- Altura Mining Limited, Indonesia
- Uttam Galva Steels Limited - India
- Jindal Steel & Power Ltd - India
- Mercuria Energy - Indonesia
- New Zealand Coal & Carbon
- Indian Energy Exchange, India
- Global Green Power PLC Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Coalindo Energy - Indonesia
- Latin American Coal - Colombia
- Billiton Holdings Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- TeaM Sual Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Agrawal Coal Company - India
- Parliament of New Zealand
- Chamber of Mines of South Africa
- Kapuas Tunggal Persada - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Coal Council - USA
- South Luzon Thermal Energy Corporation
- CIMB Investment Bank - Malaysia
- Price Waterhouse Coopers - Russia
- Sakthi Sugars Limited - India
- PNOC Exploration Corporation - Philippines
- Ministry of Mines - Canada
- SN Aboitiz Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ASAPP Information Group - India
- Africa Commodities Group - South Africa
- Asmin Koalindo Tuhup - Indonesia
- Central Electricity Authority - India
- Tamil Nadu electricity Board
- Tata Chemicals Ltd - India
- Medco Energi Mining Internasional
- Aditya Birla Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Australia Pty. Ltd.
- Rashtriya Ispat Nigam Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cigading International Bulk Terminal - Indonesia
- Eastern Energy - Thailand
- Chettinad Cement Corporation Ltd - India
- Bhushan Steel Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sojitz Corporation - Japan
- Oldendorff Carriers - Singapore
- Deloitte Consulting - India
- Economic Council, Georgia
- Meralco Power Generation, Philippines
- Pendopo Energi Batubara - Indonesia
- Australian Coal Association
- Coal and Oil Company - UAE
- Semirara Mining Corp, Philippines
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