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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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Thursday, 28 August 14
BANPU REPORTS HIGHER FIRST-HALF YEAR RESULTS FOR 2014
COALspot.com: Banpu Public Company Limited (BANPU) reports higher first half-year financial results for 2014 having its gross profit increasing 3 p ...
Wednesday, 27 August 14
FREIGHT MARKET: IS THE MARKET IN A RECOVERY MOOD? - GEORGE ILIOPOULOS
Is the market in a recovery mood?
August is typically a time when the shipping industry takes it easy… charter-ers book their requireme ...
Tuesday, 26 August 14
4TH ANNUAL ASIA NICKEL
4th Annual Asia Nickel
19-20 Nov 2014
Grand Hyatt Jakarta, Indonesia
Web Site
Asia’s Premier Nickel Conference
Regulation in ...
Tuesday, 26 August 14
DESPITE LOW DRY BULK RATES, BULKER PRICES ARE STILL HIGH - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Traditionally, August tends to be a month of slow activity in the sale and purchasing market and this year has been no exception. However, as shipb ...
Tuesday, 26 August 14
GOVT ON TRACK TO LIMIT COAL OUTPUT - THE JAKARTA POST
The government has announced that it will proceed with plans to cap the production of coal next year, a move aimed not only at protecting the envir ...
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- Baramulti Group, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Deloitte Consulting - India
- GAC Shipping (India) Pvt Ltd
- Thiess Contractors Indonesia
- Merrill Lynch Commodities Europe
- Bhoruka Overseas - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bhatia International Limited - India
- Directorate Of Revenue Intelligence - India
- Bukit Baiduri Energy - Indonesia
- Ambuja Cements Ltd - India
- Bhushan Steel Limited - India
- GVK Power & Infra Limited - India
- The Treasury - Australian Government
- White Energy Company Limited
- Indonesian Coal Mining Association
- Therma Luzon, Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Cigading International Bulk Terminal - Indonesia
- CNBM International Corporation - China
- Banpu Public Company Limited - Thailand
- Straits Asia Resources Limited - Singapore
- Riau Bara Harum - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Dalmia Cement Bharat India
- Meenaskhi Energy Private Limited - India
- Tata Chemicals Ltd - India
- Indogreen Group - Indonesia
- Mercator Lines Limited - India
- Bulk Trading Sa - Switzerland
- Alfred C Toepfer International GmbH - Germany
- CIMB Investment Bank - Malaysia
- SMG Consultants - Indonesia
- Economic Council, Georgia
- Ministry of Mines - Canada
- Cement Manufacturers Association - India
- McConnell Dowell - Australia
- Kaltim Prima Coal - Indonesia
- Singapore Mercantile Exchange
- Meralco Power Generation, Philippines
- Essar Steel Hazira Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Eastern Coal Council - USA
- Jaiprakash Power Ventures ltd
- Siam City Cement - Thailand
- LBH Netherlands Bv - Netherlands
- Larsen & Toubro Limited - India
- Billiton Holdings Pty Ltd - Australia
- Vedanta Resources Plc - India
- Romanian Commodities Exchange
- Indian Energy Exchange, India
- Sakthi Sugars Limited - India
- Heidelberg Cement - Germany
- Manunggal Multi Energi - Indonesia
- Australian Commodity Traders Exchange
- Timah Investasi Mineral - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Maheswari Brothers Coal Limited - India
- Kartika Selabumi Mining - Indonesia
- Australian Coal Association
- IHS Mccloskey Coal Group - USA
- Parliament of New Zealand
- Vizag Seaport Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Africa Commodities Group - South Africa
- Indika Energy - Indonesia
- IEA Clean Coal Centre - UK
- Oldendorff Carriers - Singapore
- Central Electricity Authority - India
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Sidhee Cement - India
- Karaikal Port Pvt Ltd - India
- Orica Mining Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bangladesh Power Developement Board
- Gujarat Mineral Development Corp Ltd - India
- Trasteel International SA, Italy
- Independent Power Producers Association of India
- Antam Resourcindo - Indonesia
- Wood Mackenzie - Singapore
- Latin American Coal - Colombia
- Intertek Mineral Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- Directorate General of MIneral and Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Neyveli Lignite Corporation Ltd, - India
- Uttam Galva Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Global Green Power PLC Corporation, Philippines
- Electricity Generating Authority of Thailand
- Miang Besar Coal Terminal - Indonesia
- Kumho Petrochemical, South Korea
- ICICI Bank Limited - India
- Wilmar Investment Holdings
- Eastern Energy - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- London Commodity Brokers - England
- New Zealand Coal & Carbon
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Grasim Industreis Ltd - India
- OPG Power Generation Pvt Ltd - India
- Semirara Mining Corp, Philippines
- SMC Global Power, Philippines
- Anglo American - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- Borneo Indobara - Indonesia
- Samtan Co., Ltd - South Korea
- Thai Mozambique Logistica
- Madhucon Powers Ltd - India
- Altura Mining Limited, Indonesia
- Ministry of Finance - Indonesia
- Carbofer General Trading SA - India
- Toyota Tsusho Corporation, Japan
- Central Java Power - Indonesia
- Mjunction Services Limited - India
- SN Aboitiz Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- VISA Power Limited - India
- Rio Tinto Coal - Australia
- Minerals Council of Australia
- Orica Australia Pty. Ltd.
- The State Trading Corporation of India Ltd
- Salva Resources Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Georgia Ports Authority, United States
- Ministry of Transport, Egypt
- Offshore Bulk Terminal Pte Ltd, Singapore
- Simpson Spence & Young - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Lanco Infratech Ltd - India
- MS Steel International - UAE
- Kohat Cement Company Ltd. - Pakistan
- Barasentosa Lestari - Indonesia
- Sical Logistics Limited - India
- Chamber of Mines of South Africa
- Xindia Steels Limited - India
- San Jose City I Power Corp, Philippines
- Commonwealth Bank - Australia
- Bharathi Cement Corporation - India
- Ceylon Electricity Board - Sri Lanka
- Energy Development Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- India Bulls Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Price Waterhouse Coopers - Russia
- Goldman Sachs - Singapore
- Sree Jayajothi Cements Limited - India
- Sarangani Energy Corporation, Philippines
- Star Paper Mills Limited - India
- PowerSource Philippines DevCo
- Energy Link Ltd, New Zealand
- ASAPP Information Group - India
- Indo Tambangraya Megah - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Binh Thuan Hamico - Vietnam
- Coastal Gujarat Power Limited - India
- Siam City Cement PLC, Thailand
- Asmin Koalindo Tuhup - Indonesia
- Savvy Resources Ltd - HongKong
- Edison Trading Spa - Italy
- Interocean Group of Companies - India
- Kideco Jaya Agung - Indonesia
- Aditya Birla Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Mintek Dendrill Indonesia
- Petron Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Marubeni Corporation - India
- The University of Queensland
- Planning Commission, India
- Global Coal Blending Company Limited - Australia
- Videocon Industries ltd - India
- Sojitz Corporation - Japan
- Standard Chartered Bank - UAE
- Coal and Oil Company - UAE
- Posco Energy - South Korea
- Sinarmas Energy and Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Mercuria Energy - Indonesia
- Port Waratah Coal Services - Australia
- Indian Oil Corporation Limited
- Jindal Steel & Power Ltd - India
- PNOC Exploration Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tamil Nadu electricity Board
- Bukit Makmur.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Medco Energi Mining Internasional
- GMR Energy Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Attock Cement Pakistan Limited
- Ind-Barath Power Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- PTC India Limited - India
- Pendopo Energi Batubara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Renaissance Capital - South Africa
- Electricity Authority, New Zealand
- Parry Sugars Refinery, India
- Globalindo Alam Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Metalloyd Limited - United Kingdom
- Coalindo Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Aboitiz Power Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- TeaM Sual Corporation - Philippines
- Makarim & Taira - Indonesia
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