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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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Wednesday, 13 August 14
WEEKLY MARKET INSIGHT - KONSTANTINOS KONTOMICHIS SNP BROKER
Being at the peak of the holiday season, August is, as usual, the quietest month in terms of snp transactions, yet it is also a time very critical ...
Wednesday, 13 August 14
WHAT DOES PROJECT CARGO REALLY MEAN TO INSURERS?
KNOWLEDGE TO ELEVATE
Richard Kamppari-Baker, claims manager of FP Marine Risks, explains the challenges of project cargo risk assessment from ...
Wednesday, 13 August 14
INDONESIAN COAL PRICE REFERENCE FALL AGAIN CLOSE TO 57 MONTHS LOWS
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia revised down the coal bench mark price in August. HBA for the month of A ...
Monday, 11 August 14
LARGEST CHINESE TRADE SURPLUS EVER RECORDED IN JULY - BIMCO
China recorded a trade surplus of USD 47.3 billion in July 2014. The record high surplus came on the back of very strong export growth while import ...
Monday, 11 August 14
INDONESIAN THERMAL COAL SWAPS SEEING SOME POSITIVE TREND
COALspot.com: Indonesian coal swaps for average September 2014 increased US$ 0.20 (+0.36%) day on day and US$ 1.30 (+2.41%) per mt week on week. Th ...
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- Electricity Generating Authority of Thailand
- Ministry of Mines - Canada
- PetroVietnam Power Coal Import and Supply Company
- Bank of Tokyo Mitsubishi UFJ Ltd
- AsiaOL BioFuels Corp., Philippines
- Dalmia Cement Bharat India
- Kobexindo Tractors - Indoneisa
- Malabar Cements Ltd - India
- Parry Sugars Refinery, India
- Australian Commodity Traders Exchange
- Indian Oil Corporation Limited
- Aboitiz Power Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Aditya Birla Group - India
- Neyveli Lignite Corporation Ltd, - India
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Transport, Egypt
- Sakthi Sugars Limited - India
- Central Electricity Authority - India
- Coastal Gujarat Power Limited - India
- Meenaskhi Energy Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- Minerals Council of Australia
- Lanco Infratech Ltd - India
- Kaltim Prima Coal - Indonesia
- Altura Mining Limited, Indonesia
- Makarim & Taira - Indonesia
- Ambuja Cements Ltd - India
- Deloitte Consulting - India
- Leighton Contractors Pty Ltd - Australia
- Australian Coal Association
- Vedanta Resources Plc - India
- Timah Investasi Mineral - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Vizag Seaport Private Limited - India
- Videocon Industries ltd - India
- Commonwealth Bank - Australia
- Metalloyd Limited - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- CIMB Investment Bank - Malaysia
- Uttam Galva Steels Limited - India
- Samtan Co., Ltd - South Korea
- Standard Chartered Bank - UAE
- PTC India Limited - India
- Star Paper Mills Limited - India
- Semirara Mining Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- ICICI Bank Limited - India
- CNBM International Corporation - China
- Medco Energi Mining Internasional
- Global Business Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Wilmar Investment Holdings
- Indonesian Coal Mining Association
- Gujarat Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- The Treasury - Australian Government
- Rashtriya Ispat Nigam Limited - India
- Sojitz Corporation - Japan
- Miang Besar Coal Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Mintek Dendrill Indonesia
- Therma Luzon, Inc, Philippines
- Interocean Group of Companies - India
- LBH Netherlands Bv - Netherlands
- Energy Link Ltd, New Zealand
- Wood Mackenzie - Singapore
- Trasteel International SA, Italy
- Electricity Authority, New Zealand
- Siam City Cement PLC, Thailand
- GVK Power & Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Price Waterhouse Coopers - Russia
- Coal and Oil Company - UAE
- PNOC Exploration Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- VISA Power Limited - India
- Binh Thuan Hamico - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Essar Steel Hazira Ltd - India
- Renaissance Capital - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Jaiprakash Power Ventures ltd
- IHS Mccloskey Coal Group - USA
- Planning Commission, India
- Sindya Power Generating Company Private Ltd
- Straits Asia Resources Limited - Singapore
- Karaikal Port Pvt Ltd - India
- SMC Global Power, Philippines
- Mjunction Services Limited - India
- Siam City Cement - Thailand
- Madhucon Powers Ltd - India
- Kumho Petrochemical, South Korea
- Pendopo Energi Batubara - Indonesia
- Carbofer General Trading SA - India
- Ministry of Finance - Indonesia
- Bharathi Cement Corporation - India
- New Zealand Coal & Carbon
- Ceylon Electricity Board - Sri Lanka
- Marubeni Corporation - India
- Port Waratah Coal Services - Australia
- Toyota Tsusho Corporation, Japan
- South Luzon Thermal Energy Corporation
- Merrill Lynch Commodities Europe
- Tata Chemicals Ltd - India
- San Jose City I Power Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Formosa Plastics Group - Taiwan
- Indian Energy Exchange, India
- Orica Australia Pty. Ltd.
- Baramulti Group, Indonesia
- Maheswari Brothers Coal Limited - India
- Salva Resources Pvt Ltd - India
- Edison Trading Spa - Italy
- Krishnapatnam Port Company Ltd. - India
- Globalindo Alam Lestari - Indonesia
- MS Steel International - UAE
- McConnell Dowell - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Bhatia International Limited - India
- Meralco Power Generation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Heidelberg Cement - Germany
- Sical Logistics Limited - India
- Independent Power Producers Association of India
- Africa Commodities Group - South Africa
- Ind-Barath Power Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Indogreen Group - Indonesia
- Thiess Contractors Indonesia
- Bayan Resources Tbk. - Indonesia
- Indo Tambangraya Megah - Indonesia
- Mercator Lines Limited - India
- Global Coal Blending Company Limited - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMG Consultants - Indonesia
- Eastern Energy - Thailand
- Intertek Mineral Services - Indonesia
- The State Trading Corporation of India Ltd
- Economic Council, Georgia
- Bukit Asam (Persero) Tbk - Indonesia
- Bhushan Steel Limited - India
- Mercuria Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Thai Mozambique Logistica
- SN Aboitiz Power Inc, Philippines
- Rio Tinto Coal - Australia
- Sree Jayajothi Cements Limited - India
- Sinarmas Energy and Mining - Indonesia
- Larsen & Toubro Limited - India
- White Energy Company Limited
- Georgia Ports Authority, United States
- Tamil Nadu electricity Board
- Parliament of New Zealand
- Global Green Power PLC Corporation, Philippines
- Posco Energy - South Korea
- Holcim Trading Pte Ltd - Singapore
- Riau Bara Harum - Indonesia
- Banpu Public Company Limited - Thailand
- Chamber of Mines of South Africa
- Attock Cement Pakistan Limited
- Chettinad Cement Corporation Ltd - India
- Barasentosa Lestari - Indonesia
- Agrawal Coal Company - India
- Anglo American - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- Romanian Commodities Exchange
- ASAPP Information Group - India
- IEA Clean Coal Centre - UK
- Central Java Power - Indonesia
- Antam Resourcindo - Indonesia
- London Commodity Brokers - England
- OPG Power Generation Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Bangladesh Power Developement Board
- Goldman Sachs - Singapore
- Gujarat Sidhee Cement - India
- Kepco SPC Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Petron Corporation, Philippines
- Cement Manufacturers Association - India
- Bulk Trading Sa - Switzerland
- Pipit Mutiara Jaya. PT, Indonesia
- Borneo Indobara - Indonesia
- Xindia Steels Limited - India
- Grasim Industreis Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Eastern Coal Council - USA
- Kartika Selabumi Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coalindo Energy - Indonesia
- GMR Energy Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- PowerSource Philippines DevCo
- Iligan Light & Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Singapore Mercantile Exchange
- Latin American Coal - Colombia
- Energy Development Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Indika Energy - Indonesia
- Power Finance Corporation Ltd., India
- India Bulls Power Limited - India
- Bukit Makmur.PT - Indonesia
- The University of Queensland
- Directorate Of Revenue Intelligence - India
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