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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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Friday, 08 August 14
U.S PRODUCED 35.80 MMST OF COAL IN JULY; UP 7.89 MONTH OVER MONTH
COALspot.com – United States the world's second largest coal producer, produced approximately 19.50 million short tons (mmst) of coal in ...
Friday, 08 August 14
PORT OF NEWCASTLE SHIPPED 19.52% MORE COAL IN JULY FROM LAST MONTH
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port, has shipped 14,036,947 t ...
Thursday, 07 August 14
SHORT-TERM COAL OUTLOOK IMPROVES - SAM QUEST
With demand for and supply of coal to grow in the near future, prices are expected to rebound in the short term; the long-term prospects, however, ...
Thursday, 07 August 14
BULKING UP IN AFRICA: CHINA INFLATES SEABORNE MINERALS EXPORT TRADE - RICHARD SCOTT
Africa’s profile as an exporter of dry bulk commodities is rising. Responding to growing import demand from China, India and other buyers in ...
Wednesday, 06 August 14
CAPES: BUSINESS INTEREST REMAINS SOFT; CURRENTLY NO SIGNS OF IMPROVEMENT - INTERMODAL
COALspot.com: Despite the considerable pressure witnessed in the freight market for most of the size segments, the Dry Bulk Index was able to note ...
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- Bhoruka Overseas - Indonesia
- Posco Energy - South Korea
- Vizag Seaport Private Limited - India
- Mintek Dendrill Indonesia
- Cement Manufacturers Association - India
- PNOC Exploration Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Global Business Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Coalindo Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Ministry of Mines - Canada
- PetroVietnam Power Coal Import and Supply Company
- Anglo American - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- Krishnapatnam Port Company Ltd. - India
- TNB Fuel Sdn Bhd - Malaysia
- Standard Chartered Bank - UAE
- SMC Global Power, Philippines
- Minerals Council of Australia
- Neyveli Lignite Corporation Ltd, - India
- IEA Clean Coal Centre - UK
- Uttam Galva Steels Limited - India
- Planning Commission, India
- GVK Power & Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rio Tinto Coal - Australia
- Star Paper Mills Limited - India
- Sinarmas Energy and Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Wilmar Investment Holdings
- Energy Development Corp, Philippines
- Siam City Cement - Thailand
- Electricity Generating Authority of Thailand
- New Zealand Coal & Carbon
- Antam Resourcindo - Indonesia
- Binh Thuan Hamico - Vietnam
- Kepco SPC Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Thai Mozambique Logistica
- Billiton Holdings Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- ASAPP Information Group - India
- Ambuja Cements Ltd - India
- Electricity Authority, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- Gujarat Sidhee Cement - India
- Savvy Resources Ltd - HongKong
- Economic Council, Georgia
- Metalloyd Limited - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Finance - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sarangani Energy Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Samtan Co., Ltd - South Korea
- ICICI Bank Limited - India
- Semirara Mining and Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Karaikal Port Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Barasentosa Lestari - Indonesia
- White Energy Company Limited
- Indonesian Coal Mining Association
- Meenaskhi Energy Private Limited - India
- Oldendorff Carriers - Singapore
- Mercator Lines Limited - India
- CNBM International Corporation - China
- Dalmia Cement Bharat India
- Eastern Energy - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Videocon Industries ltd - India
- Bhushan Steel Limited - India
- Kapuas Tunggal Persada - Indonesia
- India Bulls Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Sakthi Sugars Limited - India
- London Commodity Brokers - England
- Aboitiz Power Corporation - Philippines
- Romanian Commodities Exchange
- Straits Asia Resources Limited - Singapore
- Salva Resources Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Jindal Steel & Power Ltd - India
- Aditya Birla Group - India
- Central Java Power - Indonesia
- Sojitz Corporation - Japan
- Banpu Public Company Limited - Thailand
- PowerSource Philippines DevCo
- Kumho Petrochemical, South Korea
- Australian Coal Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Larsen & Toubro Limited - India
- Edison Trading Spa - Italy
- Essar Steel Hazira Ltd - India
- Bulk Trading Sa - Switzerland
- Riau Bara Harum - Indonesia
- LBH Netherlands Bv - Netherlands
- Global Green Power PLC Corporation, Philippines
- Georgia Ports Authority, United States
- Tamil Nadu electricity Board
- Bukit Baiduri Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Xindia Steels Limited - India
- Kobexindo Tractors - Indoneisa
- TeaM Sual Corporation - Philippines
- Altura Mining Limited, Indonesia
- Indian Oil Corporation Limited
- Coal and Oil Company - UAE
- Jaiprakash Power Ventures ltd
- Kideco Jaya Agung - Indonesia
- Ind-Barath Power Infra Limited - India
- Power Finance Corporation Ltd., India
- Ministry of Transport, Egypt
- Orica Mining Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Parliament of New Zealand
- Manunggal Multi Energi - Indonesia
- MS Steel International - UAE
- Timah Investasi Mineral - Indoneisa
- Lanco Infratech Ltd - India
- Bhatia International Limited - India
- Therma Luzon, Inc, Philippines
- Siam City Cement PLC, Thailand
- Bangladesh Power Developement Board
- Miang Besar Coal Terminal - Indonesia
- Thiess Contractors Indonesia
- Chamber of Mines of South Africa
- Simpson Spence & Young - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Indika Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Price Waterhouse Coopers - Russia
- McConnell Dowell - Australia
- Indian Energy Exchange, India
- Grasim Industreis Ltd - India
- Semirara Mining Corp, Philippines
- Attock Cement Pakistan Limited
- Petron Corporation, Philippines
- SMG Consultants - Indonesia
- Eastern Coal Council - USA
- Pendopo Energi Batubara - Indonesia
- Bukit Makmur.PT - Indonesia
- Marubeni Corporation - India
- Trasteel International SA, Italy
- The Treasury - Australian Government
- Kohat Cement Company Ltd. - Pakistan
- Toyota Tsusho Corporation, Japan
- Renaissance Capital - South Africa
- Tata Chemicals Ltd - India
- SN Aboitiz Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- The University of Queensland
- GMR Energy Limited - India
- Maheswari Brothers Coal Limited - India
- Port Waratah Coal Services - Australia
- CIMB Investment Bank - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- IHS Mccloskey Coal Group - USA
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Commodity Traders Exchange
- Kaltim Prima Coal - Indonesia
- Independent Power Producers Association of India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- VISA Power Limited - India
- Borneo Indobara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Malabar Cements Ltd - India
- Wood Mackenzie - Singapore
- Makarim & Taira - Indonesia
- Sical Logistics Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Carbofer General Trading SA - India
- Medco Energi Mining Internasional
- The State Trading Corporation of India Ltd
- Globalindo Alam Lestari - Indonesia
- Africa Commodities Group - South Africa
- Orica Australia Pty. Ltd.
- South Luzon Thermal Energy Corporation
- Commonwealth Bank - Australia
- Central Electricity Authority - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Goldman Sachs - Singapore
- Singapore Mercantile Exchange
- Parry Sugars Refinery, India
- Merrill Lynch Commodities Europe
- Baramulti Group, Indonesia
- Kartika Selabumi Mining - Indonesia
- Deloitte Consulting - India
- Sree Jayajothi Cements Limited - India
- Iligan Light & Power Inc, Philippines
- Mjunction Services Limited - India
- Intertek Mineral Services - Indonesia
- PTC India Limited - India
- Vedanta Resources Plc - India
- International Coal Ventures Pvt Ltd - India
- Agrawal Coal Company - India
- Leighton Contractors Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Mercuria Energy - Indonesia
- Energy Link Ltd, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bharathi Cement Corporation - India
- Indogreen Group - Indonesia
- Meralco Power Generation, Philippines
- Madhucon Powers Ltd - India
- Latin American Coal - Colombia
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