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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, 06 August 14
SHIPPING MARKET INSIGHT - EVA TZIMA
Recent reports that Indonesia’s ban on exports of metal ore concentrates was lifted for the first time in six months for two of its biggest m ...
Wednesday, 06 August 14
SGX SUCCESSFULLY LAUNCHED NEW SGX COAL PRODUCTS
COALspot.com: Singapore Exchange (‘SGX’) has announced that, the exchange has successfully launched its new Coking and Thermal Coal pro ...
Monday, 04 August 14
ANNUAL SECOND HALF SURGE IN BRAZILIAN IRON ORE EXPORTS ABOUT TO BEGIN - JEFFREY LANDSBERG
COALspot.com: Great strength in the capesize market has all along been set to occur during the second half of this year, as that is when Brazilian ...
Monday, 04 August 14
SUB-BIT FOB INDONESIA COAL SWAP INCHES UP DESPITE LOW DEMAND
COALspot.com: Indonesian coal swaps for average Q4’ 2014 increased US$ 0.15 day on day and US$ 0.13 per mt week on week. But, the swap was lo ...
Monday, 04 August 14
Q1' 15 API 8 CFR SOUTH CHINA COAL SWAP CLOSED AT US$ 69.37 ON 1 AUGUST 2014; A $ 1.10 HIGHER COMPARED TO Q4' 2014 CLOSING
COALspot.com: Coal swap prices are showing a positive move upward this past week. API 8 CFR South China Coal swap for Q4, Q1 and Q2 2015 show ...
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- Africa Commodities Group - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Port Waratah Coal Services - Australia
- Thai Mozambique Logistica
- Neyveli Lignite Corporation Ltd, - India
- Ceylon Electricity Board - Sri Lanka
- New Zealand Coal & Carbon
- Straits Asia Resources Limited - Singapore
- The State Trading Corporation of India Ltd
- European Bulk Services B.V. - Netherlands
- Karaikal Port Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Indika Energy - Indonesia
- Attock Cement Pakistan Limited
- Timah Investasi Mineral - Indoneisa
- Goldman Sachs - Singapore
- Electricity Authority, New Zealand
- Bharathi Cement Corporation - India
- Makarim & Taira - Indonesia
- Riau Bara Harum - Indonesia
- Bhoruka Overseas - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Krishnapatnam Port Company Ltd. - India
- Ministry of Finance - Indonesia
- Indonesian Coal Mining Association
- Siam City Cement PLC, Thailand
- Altura Mining Limited, Indonesia
- Deloitte Consulting - India
- Australian Coal Association
- Global Business Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Medco Energi Mining Internasional
- Anglo American - United Kingdom
- Jindal Steel & Power Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Kobexindo Tractors - Indoneisa
- Parliament of New Zealand
- Manunggal Multi Energi - Indonesia
- Samtan Co., Ltd - South Korea
- MS Steel International - UAE
- LBH Netherlands Bv - Netherlands
- Sree Jayajothi Cements Limited - India
- Semirara Mining and Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Mining Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Meenaskhi Energy Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Minerals Council of Australia
- Maheswari Brothers Coal Limited - India
- TeaM Sual Corporation - Philippines
- Standard Chartered Bank - UAE
- Vizag Seaport Private Limited - India
- Carbofer General Trading SA - India
- Tamil Nadu electricity Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vedanta Resources Plc - India
- International Coal Ventures Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Central Electricity Authority - India
- Borneo Indobara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- Madhucon Powers Ltd - India
- India Bulls Power Limited - India
- Cement Manufacturers Association - India
- Mercuria Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Jaiprakash Power Ventures ltd
- Mjunction Services Limited - India
- Kartika Selabumi Mining - Indonesia
- Savvy Resources Ltd - HongKong
- CIMB Investment Bank - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- Mercator Lines Limited - India
- London Commodity Brokers - England
- Bangladesh Power Developement Board
- Agrawal Coal Company - India
- CNBM International Corporation - China
- Kideco Jaya Agung - Indonesia
- Siam City Cement - Thailand
- Therma Luzon, Inc, Philippines
- Oldendorff Carriers - Singapore
- Electricity Generating Authority of Thailand
- Sarangani Energy Corporation, Philippines
- Baramulti Group, Indonesia
- Gujarat Sidhee Cement - India
- Heidelberg Cement - Germany
- Romanian Commodities Exchange
- Tata Chemicals Ltd - India
- Essar Steel Hazira Ltd - India
- Sical Logistics Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Mines - Canada
- Globalindo Alam Lestari - Indonesia
- Independent Power Producers Association of India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Grasim Industreis Ltd - India
- VISA Power Limited - India
- Thiess Contractors Indonesia
- White Energy Company Limited
- Singapore Mercantile Exchange
- Sinarmas Energy and Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Sojitz Corporation - Japan
- PNOC Exploration Corporation - Philippines
- Indogreen Group - Indonesia
- Power Finance Corporation Ltd., India
- Central Java Power - Indonesia
- Economic Council, Georgia
- Global Coal Blending Company Limited - Australia
- Georgia Ports Authority, United States
- Latin American Coal - Colombia
- Holcim Trading Pte Ltd - Singapore
- Commonwealth Bank - Australia
- Karbindo Abesyapradhi - Indoneisa
- Indian Oil Corporation Limited
- ICICI Bank Limited - India
- Petron Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Energy - Thailand
- PTC India Limited - India
- Aditya Birla Group - India
- The Treasury - Australian Government
- OPG Power Generation Pvt Ltd - India
- Dalmia Cement Bharat India
- Merrill Lynch Commodities Europe
- San Jose City I Power Corp, Philippines
- Sakthi Sugars Limited - India
- ASAPP Information Group - India
- Uttam Galva Steels Limited - India
- Orica Australia Pty. Ltd.
- Directorate Of Revenue Intelligence - India
- Ministry of Transport, Egypt
- Leighton Contractors Pty Ltd - Australia
- Bhushan Steel Limited - India
- Iligan Light & Power Inc, Philippines
- Mintek Dendrill Indonesia
- Kapuas Tunggal Persada - Indonesia
- Australian Commodity Traders Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chamber of Mines of South Africa
- SN Aboitiz Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Coal and Oil Company - UAE
- Energy Development Corp, Philippines
- Xindia Steels Limited - India
- Videocon Industries ltd - India
- GMR Energy Limited - India
- Kaltim Prima Coal - Indonesia
- Antam Resourcindo - Indonesia
- McConnell Dowell - Australia
- SMG Consultants - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bhatia International Limited - India
- Indian Energy Exchange, India
- Coalindo Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Price Waterhouse Coopers - Russia
- IHS Mccloskey Coal Group - USA
- Energy Link Ltd, New Zealand
- Parry Sugars Refinery, India
- Trasteel International SA, Italy
- Coastal Gujarat Power Limited - India
- Edison Trading Spa - Italy
- Bulk Trading Sa - Switzerland
- Pendopo Energi Batubara - Indonesia
- Sindya Power Generating Company Private Ltd
- Semirara Mining Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Miang Besar Coal Terminal - Indonesia
- Malabar Cements Ltd - India
- SMC Global Power, Philippines
- GVK Power & Infra Limited - India
- Larsen & Toubro Limited - India
- Planning Commission, India
- Bahari Cakrawala Sebuku - Indonesia
- Posco Energy - South Korea
- Rashtriya Ispat Nigam Limited - India
- Interocean Group of Companies - India
- IEA Clean Coal Centre - UK
- Metalloyd Limited - United Kingdom
- Formosa Plastics Group - Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Meralco Power Generation, Philippines
- Rio Tinto Coal - Australia
- Bukit Makmur.PT - Indonesia
- PowerSource Philippines DevCo
- Global Green Power PLC Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Ambuja Cements Ltd - India
- Marubeni Corporation - India
- Chettinad Cement Corporation Ltd - India
- Renaissance Capital - South Africa
- Aboitiz Power Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Binh Thuan Hamico - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- The University of Queensland
- Eastern Coal Council - USA
- Salva Resources Pvt Ltd - India
- Wilmar Investment Holdings
- Kohat Cement Company Ltd. - Pakistan
- Lanco Infratech Ltd - India
- Star Paper Mills Limited - India
- Wood Mackenzie - Singapore
- Kumho Petrochemical, South Korea
- Simpson Spence & Young - Indonesia
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