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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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Sunday, 24 August 14
SEA FREIGHT MARKETS STARTING TO LOOK POSITIVE; CAPES DRIVE FREIGHTS HIGHER
COALspot.com: The freight market has strengthen further this week with BDI up 7.19 pct week on week. The BDI was closed at 1,088 points while the B ...
Friday, 22 August 14
INDIAN IRON ORE ROYALTY RISE NOT LIKELY TO HURT STEELMAKERS' MARGINS - FITCH
Fitch Ratings does not expect an increase in India's iron ore royalty rates to have a major impact on the profitability of steel producers in t ...
Friday, 22 August 14
ARBITRATION CLAUSE IN LOU HELD TO REPLACE CHARTERPARTY ARBITRATION CLAUSE
KNOWLEDGE TO ELEVATE
The Claimants had claims for cargo damage against the vessel Owners arising under four bills of lading. The vessel was th ...
Friday, 22 August 14
ICAP ENERGY LAUNCHES GLOBAL COKING COAL DERIVATIVES TRADING
First contract completed and cleared on CME
COALspot.com: ICAP Energy, the energy business of ICAP plc, announces today that it has successful ...
Friday, 22 August 14
U.S WEEKLY COAL PRODUCTION UP 2.4% WEEK OVER WEEK
COALspot.com – United States the world's second largest coal producer, produced approximately 19.60 million short tons (mmst) of coal in ...
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- Dalmia Cement Bharat India
- Directorate General of MIneral and Coal - Indonesia
- Australian Coal Association
- Pipit Mutiara Jaya. PT, Indonesia
- Globalindo Alam Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- IEA Clean Coal Centre - UK
- The Treasury - Australian Government
- Petron Corporation, Philippines
- London Commodity Brokers - England
- Merrill Lynch Commodities Europe
- McConnell Dowell - Australia
- Altura Mining Limited, Indonesia
- Parliament of New Zealand
- Deloitte Consulting - India
- Energy Development Corp, Philippines
- Metalloyd Limited - United Kingdom
- Jaiprakash Power Ventures ltd
- Port Waratah Coal Services - Australia
- International Coal Ventures Pvt Ltd - India
- GVK Power & Infra Limited - India
- Jindal Steel & Power Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Indian Energy Exchange, India
- Latin American Coal - Colombia
- Kumho Petrochemical, South Korea
- Karaikal Port Pvt Ltd - India
- Mintek Dendrill Indonesia
- Independent Power Producers Association of India
- Bahari Cakrawala Sebuku - Indonesia
- Georgia Ports Authority, United States
- MS Steel International - UAE
- Sindya Power Generating Company Private Ltd
- Kalimantan Lumbung Energi - Indonesia
- Thai Mozambique Logistica
- Mercator Lines Limited - India
- Kobexindo Tractors - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Wilmar Investment Holdings
- Essar Steel Hazira Ltd - India
- Billiton Holdings Pty Ltd - Australia
- ASAPP Information Group - India
- SN Aboitiz Power Inc, Philippines
- PowerSource Philippines DevCo
- Goldman Sachs - Singapore
- The University of Queensland
- Commonwealth Bank - Australia
- Edison Trading Spa - Italy
- Sakthi Sugars Limited - India
- Bhatia International Limited - India
- Siam City Cement - Thailand
- Uttam Galva Steels Limited - India
- Savvy Resources Ltd - HongKong
- Bulk Trading Sa - Switzerland
- Cigading International Bulk Terminal - Indonesia
- Madhucon Powers Ltd - India
- Maheswari Brothers Coal Limited - India
- Oldendorff Carriers - Singapore
- Aboitiz Power Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Finance - Indonesia
- SMG Consultants - Indonesia
- India Bulls Power Limited - India
- Australian Commodity Traders Exchange
- Sree Jayajothi Cements Limited - India
- Carbofer General Trading SA - India
- Antam Resourcindo - Indonesia
- Indonesian Coal Mining Association
- Global Coal Blending Company Limited - Australia
- Vizag Seaport Private Limited - India
- Timah Investasi Mineral - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Star Paper Mills Limited - India
- CIMB Investment Bank - Malaysia
- Indo Tambangraya Megah - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Agrawal Coal Company - India
- Iligan Light & Power Inc, Philippines
- Central Electricity Authority - India
- Thiess Contractors Indonesia
- Standard Chartered Bank - UAE
- Kideco Jaya Agung - Indonesia
- Electricity Generating Authority of Thailand
- Eastern Energy - Thailand
- Siam City Cement PLC, Thailand
- Trasteel International SA, Italy
- Malabar Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Marubeni Corporation - India
- Riau Bara Harum - Indonesia
- Larsen & Toubro Limited - India
- Bayan Resources Tbk. - Indonesia
- Rio Tinto Coal - Australia
- Ministry of Mines - Canada
- Ambuja Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Sical Logistics Limited - India
- Binh Thuan Hamico - Vietnam
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Africa Commodities Group - South Africa
- Xindia Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Indika Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- Global Green Power PLC Corporation, Philippines
- Bharathi Cement Corporation - India
- Wood Mackenzie - Singapore
- PTC India Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Simpson Spence & Young - Indonesia
- Baramulti Group, Indonesia
- Meenaskhi Energy Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- Romanian Commodities Exchange
- Meralco Power Generation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Singapore Mercantile Exchange
- South Luzon Thermal Energy Corporation
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GMR Energy Limited - India
- Kepco SPC Power Corporation, Philippines
- Eastern Coal Council - USA
- Neyveli Lignite Corporation Ltd, - India
- Straits Asia Resources Limited - Singapore
- Indian Oil Corporation Limited
- AsiaOL BioFuels Corp., Philippines
- Directorate Of Revenue Intelligence - India
- Rashtriya Ispat Nigam Limited - India
- Power Finance Corporation Ltd., India
- Bhushan Steel Limited - India
- Chettinad Cement Corporation Ltd - India
- Mjunction Services Limited - India
- Makarim & Taira - Indonesia
- VISA Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Heidelberg Cement - Germany
- GAC Shipping (India) Pvt Ltd
- Tamil Nadu electricity Board
- Bhoruka Overseas - Indonesia
- IHS Mccloskey Coal Group - USA
- Minerals Council of Australia
- Sarangani Energy Corporation, Philippines
- Parry Sugars Refinery, India
- Grasim Industreis Ltd - India
- Pendopo Energi Batubara - Indonesia
- Chamber of Mines of South Africa
- Semirara Mining Corp, Philippines
- Vedanta Resources Plc - India
- White Energy Company Limited
- LBH Netherlands Bv - Netherlands
- Cement Manufacturers Association - India
- SMC Global Power, Philippines
- Attock Cement Pakistan Limited
- Coal and Oil Company - UAE
- Coalindo Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Barasentosa Lestari - Indonesia
- Lanco Infratech Ltd - India
- Coastal Gujarat Power Limited - India
- Ministry of Transport, Egypt
- Tata Chemicals Ltd - India
- Bangladesh Power Developement Board
- Intertek Mineral Services - Indonesia
- Anglo American - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Indogreen Group - Indonesia
- Banpu Public Company Limited - Thailand
- Sojitz Corporation - Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- The State Trading Corporation of India Ltd
- Karbindo Abesyapradhi - Indoneisa
- Ind-Barath Power Infra Limited - India
- New Zealand Coal & Carbon
- Samtan Co., Ltd - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Borneo Indobara - Indonesia
- Renaissance Capital - South Africa
- Global Business Power Corporation, Philippines
- Planning Commission, India
- Mercuria Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Energy Link Ltd, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Posco Energy - South Korea
- Orica Mining Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Ceylon Electricity Board - Sri Lanka
- Kartika Selabumi Mining - Indonesia
- ICICI Bank Limited - India
- Bukit Makmur.PT - Indonesia
- Price Waterhouse Coopers - Russia
- CNBM International Corporation - China
- European Bulk Services B.V. - Netherlands
- TeaM Sual Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Central Java Power - Indonesia
- Electricity Authority, New Zealand
- Medco Energi Mining Internasional
- Videocon Industries ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Aditya Birla Group - India
- Interocean Group of Companies - India
- Kohat Cement Company Ltd. - Pakistan
- PetroVietnam Power Coal Import and Supply Company
- Economic Council, Georgia
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