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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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Monday, 25 August 14
4TH ANNUAL FLOATING TERMINALS
4th Annual Floating Terminals
18-20 Nov 2014
Intercontinental Jakarta Midplaza,
Indonesia
Web Site
The Floating Terminal c ...
Monday, 25 August 14
THE BALTIC DRY IS JUMPING, BUT DON'T DRAW ANY BROAD CONCLUSIONS - NASDAQ
Those who consistently preach doom and gloom and see an economic apocalypse around every corner would make me laugh if it weren’t for the fac ...
Monday, 25 August 14
COAL CEOS: DEMISE OF COAL 'EXAGGERATED' - MARK WILCOX
By Mark Wilcox
Heads of some of the largest coal companies in Wyoming are saying the demise of coal has been exaggerated, though the industry def ...
Monday, 25 August 14
INDO COAL SWAPS W-O-W: NEGATIVE; M-O-M: POSITIVE
COALspot.com: Indonesian coal swaps for average September 2014 decreased US$ 0.15 (-0.28%) day on day and US$ 0.65 (-1.19%) per mt week on week. Th ...
Monday, 25 August 14
API 8 CFR SOUTH CHINA COAL SWAP GAINED DAY OVER DAY AND MONTH OVER MONTH
COALspot.com: API 8 CFR South China Coal swap for delivery in September 2014 increased US$ 0.30 (+0.44%) day on day and decreased US$ 0.20 (- ...
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- Commonwealth Bank - Australia
- Standard Chartered Bank - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Kumho Petrochemical, South Korea
- Carbofer General Trading SA - India
- Posco Energy - South Korea
- Salva Resources Pvt Ltd - India
- Wilmar Investment Holdings
- Deloitte Consulting - India
- IHS Mccloskey Coal Group - USA
- Aditya Birla Group - India
- Simpson Spence & Young - Indonesia
- Merrill Lynch Commodities Europe
- Minerals Council of Australia
- SMG Consultants - Indonesia
- Therma Luzon, Inc, Philippines
- Singapore Mercantile Exchange
- GMR Energy Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Xindia Steels Limited - India
- Mercuria Energy - Indonesia
- Parliament of New Zealand
- Metalloyd Limited - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Binh Thuan Hamico - Vietnam
- Toyota Tsusho Corporation, Japan
- Grasim Industreis Ltd - India
- Mercator Lines Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Attock Cement Pakistan Limited
- Formosa Plastics Group - Taiwan
- Thiess Contractors Indonesia
- The Treasury - Australian Government
- India Bulls Power Limited - India
- Energy Development Corp, Philippines
- Anglo American - United Kingdom
- CNBM International Corporation - China
- PetroVietnam Power Coal Import and Supply Company
- Essar Steel Hazira Ltd - India
- Thai Mozambique Logistica
- Gujarat Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Australian Commodity Traders Exchange
- Maharashtra Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Gujarat Mineral Development Corp Ltd - India
- Vedanta Resources Plc - India
- Banpu Public Company Limited - Thailand
- Parry Sugars Refinery, India
- Karaikal Port Pvt Ltd - India
- London Commodity Brokers - England
- Timah Investasi Mineral - Indoneisa
- Sojitz Corporation - Japan
- Mintek Dendrill Indonesia
- Larsen & Toubro Limited - India
- The University of Queensland
- Savvy Resources Ltd - HongKong
- Latin American Coal - Colombia
- Directorate Of Revenue Intelligence - India
- Star Paper Mills Limited - India
- PNOC Exploration Corporation - Philippines
- Marubeni Corporation - India
- SMC Global Power, Philippines
- Oldendorff Carriers - Singapore
- Borneo Indobara - Indonesia
- Siam City Cement - Thailand
- Cigading International Bulk Terminal - Indonesia
- Videocon Industries ltd - India
- Orica Mining Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Ministry of Mines - Canada
- Vizag Seaport Private Limited - India
- Malabar Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Cement Manufacturers Association - India
- Vijayanagar Sugar Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Georgia Ports Authority, United States
- Directorate General of MIneral and Coal - Indonesia
- MS Steel International - UAE
- Meralco Power Generation, Philippines
- Kideco Jaya Agung - Indonesia
- Central Electricity Authority - India
- Samtan Co., Ltd - South Korea
- Straits Asia Resources Limited - Singapore
- SN Aboitiz Power Inc, Philippines
- Sical Logistics Limited - India
- Coastal Gujarat Power Limited - India
- Wood Mackenzie - Singapore
- White Energy Company Limited
- Bulk Trading Sa - Switzerland
- Holcim Trading Pte Ltd - Singapore
- Ceylon Electricity Board - Sri Lanka
- Dalmia Cement Bharat India
- Trasteel International SA, Italy
- Orica Australia Pty. Ltd.
- Rashtriya Ispat Nigam Limited - India
- Barasentosa Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Intertek Mineral Services - Indonesia
- Energy Link Ltd, New Zealand
- Pendopo Energi Batubara - Indonesia
- Sarangani Energy Corporation, Philippines
- Lanco Infratech Ltd - India
- Agrawal Coal Company - India
- Port Waratah Coal Services - Australia
- Bangladesh Power Developement Board
- Interocean Group of Companies - India
- GVK Power & Infra Limited - India
- Madhucon Powers Ltd - India
- Bayan Resources Tbk. - Indonesia
- Chamber of Mines of South Africa
- ICICI Bank Limited - India
- Planning Commission, India
- Kepco SPC Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Petron Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Bukit Makmur.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Global Coal Blending Company Limited - Australia
- Tata Chemicals Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Iligan Light & Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Indogreen Group - Indonesia
- Indonesian Coal Mining Association
- Price Waterhouse Coopers - Russia
- Sinarmas Energy and Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Maheswari Brothers Coal Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Indian Energy Exchange, India
- Indian Oil Corporation Limited
- Ind-Barath Power Infra Limited - India
- Makarim & Taira - Indonesia
- McConnell Dowell - Australia
- Gujarat Sidhee Cement - India
- Kobexindo Tractors - Indoneisa
- Mjunction Services Limited - India
- Bukit Baiduri Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- PTC India Limited - India
- Global Green Power PLC Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bharathi Cement Corporation - India
- Ambuja Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Riau Bara Harum - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Antam Resourcindo - Indonesia
- Heidelberg Cement - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Energy - Thailand
- Kapuas Tunggal Persada - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Jindal Steel & Power Ltd - India
- Semirara Mining and Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Ministry of Transport, Egypt
- Jaiprakash Power Ventures ltd
- PowerSource Philippines DevCo
- New Zealand Coal & Carbon
- Australian Coal Association
- San Jose City I Power Corp, Philippines
- Economic Council, Georgia
- Bhatia International Limited - India
- Aboitiz Power Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Ministry of Finance - Indonesia
- Baramulti Group, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Goldman Sachs - Singapore
- Coalindo Energy - Indonesia
- Electricity Generating Authority of Thailand
- Krishnapatnam Port Company Ltd. - India
- Tamil Nadu electricity Board
- Kaltim Prima Coal - Indonesia
- Coal and Oil Company - UAE
- Chettinad Cement Corporation Ltd - India
- VISA Power Limited - India
- Romanian Commodities Exchange
- The State Trading Corporation of India Ltd
- OPG Power Generation Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhoruka Overseas - Indonesia
- Sakthi Sugars Limited - India
- Edison Trading Spa - Italy
- Global Business Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Central Java Power - Indonesia
- Renaissance Capital - South Africa
- IEA Clean Coal Centre - UK
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement PLC, Thailand
- Africa Commodities Group - South Africa
- Indika Energy - Indonesia
- Rio Tinto Coal - Australia
- Independent Power Producers Association of India
- Eastern Coal Council - USA
- Indo Tambangraya Megah - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Bhushan Steel Limited - India
- Electricity Authority, New Zealand
- GAC Shipping (India) Pvt Ltd
- CIMB Investment Bank - Malaysia
- Power Finance Corporation Ltd., India
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