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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, 03 August 14
LACK OF COAL SHIPMENTS FROM FAR EAST/SE ASIA, THE PRESSURE ON CHARTER RATES CONTINUED THIS WEEK
COALspot.com: This week, the freight rates were almost flat as charter rates were also almost steady from last week.
The BDI was up by 2.59 pc ...
Friday, 01 August 14
UNCERTAINTY IN ASIAN COAL MARKETS WHERE INDEX-LINKED PRICING DOMINATES - SGX
COALspot.com: In the past 3 years, seaborne thermal coal markets have been in a state of constant oversupply.
Reuters expects this oversupply ...
Friday, 01 August 14
U.S PRODUCED 19.4 MMST OF COAL IN A WEEK, SAYS EIA
COALspot.com – United States the world's second largest coal producer, produced approximately 19.40 million short tons (mmst) of coal in ...
Thursday, 31 July 14
CAPESIZE: CARGO VOLUMES, COAL IN PARTICULAR, PRESENTLY NOT SUFFICIENT TO EMPLOY A GROWING FLEET - FERNLEYS
Handy
Both the Atlantic and Pacific has improved in the supramax segment over the last week, said Fernleys in Its latest weekly report . There we ...
Thursday, 31 July 14
RIO TINTO SELLS MOZAMBIQUE COAL ASSETS FOR US$ 50 MILLION TO INDIA'S ICVL
COALspot.com: Rio Tinto has agreed to sell its Mozambique coal assets for just US$ 50 million to International coal ventures Private limited of Ind ...
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- Bayan Resources Tbk. - Indonesia
- Petron Corporation, Philippines
- VISA Power Limited - India
- Africa Commodities Group - South Africa
- Sarangani Energy Corporation, Philippines
- Eastern Coal Council - USA
- Lanco Infratech Ltd - India
- Altura Mining Limited, Indonesia
- IHS Mccloskey Coal Group - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Agrawal Coal Company - India
- Bangladesh Power Developement Board
- Pipit Mutiara Jaya. PT, Indonesia
- Parliament of New Zealand
- Central Java Power - Indonesia
- Kideco Jaya Agung - Indonesia
- The Treasury - Australian Government
- Kohat Cement Company Ltd. - Pakistan
- LBH Netherlands Bv - Netherlands
- Electricity Generating Authority of Thailand
- Kaltim Prima Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bhushan Steel Limited - India
- Indogreen Group - Indonesia
- South Luzon Thermal Energy Corporation
- Ministry of Mines - Canada
- SMC Global Power, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Baramulti Group, Indonesia
- GMR Energy Limited - India
- Posco Energy - South Korea
- Antam Resourcindo - Indonesia
- ASAPP Information Group - India
- Vizag Seaport Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Deloitte Consulting - India
- Toyota Tsusho Corporation, Japan
- Wood Mackenzie - Singapore
- Meenaskhi Energy Private Limited - India
- Medco Energi Mining Internasional
- Makarim & Taira - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Mercator Lines Limited - India
- PTC India Limited - India
- Edison Trading Spa - Italy
- Madhucon Powers Ltd - India
- Metalloyd Limited - United Kingdom
- Tata Chemicals Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Chamber of Mines of South Africa
- Sojitz Corporation - Japan
- Salva Resources Pvt Ltd - India
- Indian Oil Corporation Limited
- New Zealand Coal & Carbon
- Grasim Industreis Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement PLC, Thailand
- Bukit Baiduri Energy - Indonesia
- Siam City Cement - Thailand
- Essar Steel Hazira Ltd - India
- Independent Power Producers Association of India
- Bulk Trading Sa - Switzerland
- Energy Development Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Coal and Oil Company - UAE
- Ministry of Finance - Indonesia
- India Bulls Power Limited - India
- Power Finance Corporation Ltd., India
- Billiton Holdings Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- Ambuja Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- Port Waratah Coal Services - Australia
- TeaM Sual Corporation - Philippines
- Aditya Birla Group - India
- Goldman Sachs - Singapore
- Aboitiz Power Corporation - Philippines
- Merrill Lynch Commodities Europe
- Dalmia Cement Bharat India
- Barasentosa Lestari - Indonesia
- Sical Logistics Limited - India
- Straits Asia Resources Limited - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Sidhee Cement - India
- Latin American Coal - Colombia
- Kartika Selabumi Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- The State Trading Corporation of India Ltd
- Semirara Mining Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Minerals Council of Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Star Paper Mills Limited - India
- Larsen & Toubro Limited - India
- Alfred C Toepfer International GmbH - Germany
- Eastern Energy - Thailand
- San Jose City I Power Corp, Philippines
- Kumho Petrochemical, South Korea
- Indonesian Coal Mining Association
- Georgia Ports Authority, United States
- PowerSource Philippines DevCo
- Oldendorff Carriers - Singapore
- White Energy Company Limited
- Vijayanagar Sugar Pvt Ltd - India
- Interocean Group of Companies - India
- London Commodity Brokers - England
- Directorate General of MIneral and Coal - Indonesia
- Coalindo Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Kapuas Tunggal Persada - Indonesia
- Global Coal Blending Company Limited - Australia
- Indian Energy Exchange, India
- AsiaOL BioFuels Corp., Philippines
- Renaissance Capital - South Africa
- Orica Mining Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Energy Link Ltd, New Zealand
- Banpu Public Company Limited - Thailand
- Global Green Power PLC Corporation, Philippines
- MS Steel International - UAE
- Sree Jayajothi Cements Limited - India
- Jaiprakash Power Ventures ltd
- Tamil Nadu electricity Board
- Trasteel International SA, Italy
- GVK Power & Infra Limited - India
- Borneo Indobara - Indonesia
- Parry Sugars Refinery, India
- Pendopo Energi Batubara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Standard Chartered Bank - UAE
- Videocon Industries ltd - India
- Bukit Makmur.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Australian Coal Association
- European Bulk Services B.V. - Netherlands
- Indo Tambangraya Megah - Indonesia
- Timah Investasi Mineral - Indoneisa
- Global Business Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Rio Tinto Coal - Australia
- Chettinad Cement Corporation Ltd - India
- Wilmar Investment Holdings
- Sakthi Sugars Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Economic Council, Georgia
- Heidelberg Cement - Germany
- Marubeni Corporation - India
- Carbofer General Trading SA - India
- Vedanta Resources Plc - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meralco Power Generation, Philippines
- Bharathi Cement Corporation - India
- Intertek Mineral Services - Indonesia
- PNOC Exploration Corporation - Philippines
- ICICI Bank Limited - India
- Sindya Power Generating Company Private Ltd
- Indika Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- McConnell Dowell - Australia
- PetroVietnam Power Coal Import and Supply Company
- CIMB Investment Bank - Malaysia
- Samtan Co., Ltd - South Korea
- Xindia Steels Limited - India
- Commonwealth Bank - Australia
- Bhatia International Limited - India
- Directorate Of Revenue Intelligence - India
- SMG Consultants - Indonesia
- Globalindo Alam Lestari - Indonesia
- Planning Commission, India
- GN Power Mariveles Coal Plant, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Riau Bara Harum - Indonesia
- Therma Luzon, Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Romanian Commodities Exchange
- Ministry of Transport, Egypt
- Cement Manufacturers Association - India
- OPG Power Generation Pvt Ltd - India
- Anglo American - United Kingdom
- CNBM International Corporation - China
- Offshore Bulk Terminal Pte Ltd, Singapore
- Attock Cement Pakistan Limited
- Sinarmas Energy and Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- Singapore Mercantile Exchange
- Australian Commodity Traders Exchange
- Bhoruka Overseas - Indonesia
- The University of Queensland
- Coastal Gujarat Power Limited - India
- Mjunction Services Limited - India
- Malabar Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- Cigading International Bulk Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Ceylon Electricity Board - Sri Lanka
- Manunggal Multi Energi - Indonesia
- IEA Clean Coal Centre - UK
- Thiess Contractors Indonesia
- Electricity Authority, New Zealand
- Simpson Spence & Young - Indonesia
- Central Electricity Authority - India
- Uttam Galva Steels Limited - India
- Orica Australia Pty. Ltd.
- Thai Mozambique Logistica
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