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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, 21 August 14
PREDICTIONS FROM VARIOUS SHIPPERS AND MINING INDUSTRY FOR 2ND HALF YEAR AND ESPECIALLY Q4 IS POSITIVE
Handy
The activity has increased in both hemispheres this week and we see rates edging up on all trades. TA´s are now paying around 8k whic ...
Thursday, 21 August 14
SHIP OWNERS KEEP SHYING AWAY FOR NEW SHIP INVESTMENTS, OVERALL TREND IS DOWN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Ship owners have remained in the sidelines of the Sale & Purchasing market for second hand vessels, during most of August, while they also slow ...
Wednesday, 20 August 14
DRY BULK MARKET TO REBOUND IN THE FOURTH QUARTER, OR NOT....- NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The projected rebound of the dry bulk market is still an elusive trend and shipbrokers and analysts are looking to identify the timing of the loomi ...
Monday, 18 August 14
CAPESIZE RATES TO RISE TO MUCH HIGHER LEVELS THIS YEAR - JEFFREY LANDSBERG
COALspot.com: Capesize rates ended last week at $15,561/day, which marked a week-on-week increase of $6,167 (66%). Capesize rates have been a ...
Monday, 18 August 14
SUB-BIT FOB INDONESIA COAL SWAP CLOSED AT $58.60 FOR SEPTEMBER 2015; UP $4 FROM SEPTEMBER 2014 CLOSING
COALspot.com: Indonesian coal swaps for average September 2014 decreased US$ 0.15 (-0.27%) day on day and US$ 0.75 (-1.36%) per mt week on week. Th ...
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- Thai Mozambique Logistica
- Toyota Tsusho Corporation, Japan
- Bukit Makmur.PT - Indonesia
- Agrawal Coal Company - India
- TeaM Sual Corporation - Philippines
- Wilmar Investment Holdings
- Vijayanagar Sugar Pvt Ltd - India
- MS Steel International - UAE
- Siam City Cement PLC, Thailand
- South Luzon Thermal Energy Corporation
- Parliament of New Zealand
- European Bulk Services B.V. - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- Aboitiz Power Corporation - Philippines
- SMG Consultants - Indonesia
- Carbofer General Trading SA - India
- Goldman Sachs - Singapore
- Leighton Contractors Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Sindya Power Generating Company Private Ltd
- Kobexindo Tractors - Indoneisa
- The State Trading Corporation of India Ltd
- New Zealand Coal & Carbon
- Indian Energy Exchange, India
- Indonesian Coal Mining Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Economic Council, Georgia
- Kideco Jaya Agung - Indonesia
- Indo Tambangraya Megah - Indonesia
- Marubeni Corporation - India
- Ambuja Cements Ltd - India
- SMC Global Power, Philippines
- Central Electricity Authority - India
- Standard Chartered Bank - UAE
- Australian Coal Association
- Semirara Mining Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- Posco Energy - South Korea
- Heidelberg Cement - Germany
- Indogreen Group - Indonesia
- GVK Power & Infra Limited - India
- PTC India Limited - India
- Salva Resources Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Singapore Mercantile Exchange
- Timah Investasi Mineral - Indoneisa
- Indian Oil Corporation Limited
- Vedanta Resources Plc - India
- Ministry of Mines - Canada
- Pipit Mutiara Jaya. PT, Indonesia
- Baramulti Group, Indonesia
- Electricity Authority, New Zealand
- International Coal Ventures Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- CNBM International Corporation - China
- Commonwealth Bank - Australia
- Independent Power Producers Association of India
- Petrochimia International Co. Ltd.- Taiwan
- Global Green Power PLC Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- SN Aboitiz Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Orica Australia Pty. Ltd.
- Billiton Holdings Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- Borneo Indobara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- Energy Link Ltd, New Zealand
- Oldendorff Carriers - Singapore
- Aditya Birla Group - India
- Power Finance Corporation Ltd., India
- Cement Manufacturers Association - India
- Trasteel International SA, Italy
- Bharathi Cement Corporation - India
- Straits Asia Resources Limited - Singapore
- Chamber of Mines of South Africa
- Indika Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meralco Power Generation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Mercuria Energy - Indonesia
- Mjunction Services Limited - India
- India Bulls Power Limited - India
- Kaltim Prima Coal - Indonesia
- The Treasury - Australian Government
- The University of Queensland
- Electricity Generating Authority of Thailand
- London Commodity Brokers - England
- Tamil Nadu electricity Board
- Orica Mining Services - Indonesia
- Videocon Industries ltd - India
- Latin American Coal - Colombia
- Kartika Selabumi Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Larsen & Toubro Limited - India
- IHS Mccloskey Coal Group - USA
- Banpu Public Company Limited - Thailand
- Anglo American - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Attock Cement Pakistan Limited
- Coastal Gujarat Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Sarangani Energy Corporation, Philippines
- Renaissance Capital - South Africa
- ICICI Bank Limited - India
- Bhushan Steel Limited - India
- Minerals Council of Australia
- McConnell Dowell - Australia
- Krishnapatnam Port Company Ltd. - India
- Port Waratah Coal Services - Australia
- Coal and Oil Company - UAE
- Bhatia International Limited - India
- Meenaskhi Energy Private Limited - India
- Simpson Spence & Young - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Grasim Industreis Ltd - India
- VISA Power Limited - India
- Edison Trading Spa - Italy
- Ministry of Finance - Indonesia
- Siam City Cement - Thailand
- Karaikal Port Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Miang Besar Coal Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bangladesh Power Developement Board
- Alfred C Toepfer International GmbH - Germany
- Chettinad Cement Corporation Ltd - India
- Formosa Plastics Group - Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Madhucon Powers Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Manunggal Multi Energi - Indonesia
- Riau Bara Harum - Indonesia
- Barasentosa Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Savvy Resources Ltd - HongKong
- Planning Commission, India
- Therma Luzon, Inc, Philippines
- Sojitz Corporation - Japan
- Vizag Seaport Private Limited - India
- Mercator Lines Limited - India
- LBH Netherlands Bv - Netherlands
- Metalloyd Limited - United Kingdom
- Medco Energi Mining Internasional
- Rio Tinto Coal - Australia
- Gujarat Mineral Development Corp Ltd - India
- Kepco SPC Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Merrill Lynch Commodities Europe
- Eastern Coal Council - USA
- Global Coal Blending Company Limited - Australia
- Gujarat Sidhee Cement - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Star Paper Mills Limited - India
- Eastern Energy - Thailand
- Ind-Barath Power Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Malabar Cements Ltd - India
- GMR Energy Limited - India
- Jaiprakash Power Ventures ltd
- GN Power Mariveles Coal Plant, Philippines
- Rashtriya Ispat Nigam Limited - India
- Parry Sugars Refinery, India
- Directorate Of Revenue Intelligence - India
- Australian Commodity Traders Exchange
- Essar Steel Hazira Ltd - India
- Uttam Galva Steels Limited - India
- Deloitte Consulting - India
- Sakthi Sugars Limited - India
- Bhoruka Overseas - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Samtan Co., Ltd - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Petron Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Lanco Infratech Ltd - India
- Bayan Resources Tbk. - Indonesia
- Xindia Steels Limited - India
- White Energy Company Limited
- San Jose City I Power Corp, Philippines
- PowerSource Philippines DevCo
- Antam Resourcindo - Indonesia
- Globalindo Alam Lestari - Indonesia
- Ministry of Transport, Egypt
- Mintek Dendrill Indonesia
- Iligan Light & Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- ASAPP Information Group - India
- Interocean Group of Companies - India
- Maheswari Brothers Coal Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- IEA Clean Coal Centre - UK
- Energy Development Corp, Philippines
- Tata Chemicals Ltd - India
- Bukit Baiduri Energy - Indonesia
- Central Java Power - Indonesia
- Dalmia Cement Bharat India
- CIMB Investment Bank - Malaysia
- PNOC Exploration Corporation - Philippines
- Romanian Commodities Exchange
- Sinarmas Energy and Mining - Indonesia
- Georgia Ports Authority, United States
- Price Waterhouse Coopers - Russia
- Coalindo Energy - Indonesia
- Altura Mining Limited, Indonesia
- Africa Commodities Group - South Africa
- Jindal Steel & Power Ltd - India
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