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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, 24 July 14
INDONESIA'S JUNE 2014 COAL EXPORT VOLUME DOWN 6.82%; AVERAGE SELLING PRICE DOWN
COALspot.com: Indonesia, one of the world's largest coal producer and the global leading multi grade coal exporter shipped around $1.70* ...
Thursday, 24 July 14
HANDY: SOUTH AFRICA SOFTENED A BIT, HERE RATES ARE AT AROUND 8K +150K BB FOR TRIPS EAST - FEARNLEYS AS
Handy
The handy market in the Atlantic is going sideways and a tick down on low activity. Levels hoovering around USD 5k on Supras. The SMX marke ...
Thursday, 24 July 14
INDONESIAN COAL EXPORTERS ARE REQUIRED TO OBTAIN ET-BATUBARA UNDER LATEST TRADE MINISTRY'S NEW REGULATION
COALspot.com: Indonesia's trade ministry has issued regulation No. 39/M-DAG/PER/7/2014 which is requires exporters of power plant coal as ...
Wednesday, 23 July 14
PANAMAXES WERE BACK ON A DOWNWARD COURSE; CAPES WERE FEELING THE MOST PRESSURE - INTERMODAL
COALspot.com: The Dry Bulk market was on a downward spiral this week, with the BDI noting another week-on-week decline of the magnitude of 10% this ...
Wednesday, 23 July 14
WEEKLY SHIPPING MARKET INSIGHT - INTERMODAL
In Australia, the world’s largest mining group, BHP Billiton, will beat the iron ore export target of more than 220 million tonnes for 2014. ...
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Link Ltd, New Zealand
- Orica Australia Pty. Ltd.
- Cigading International Bulk Terminal - Indonesia
- Standard Chartered Bank - UAE
- PowerSource Philippines DevCo
- Ministry of Finance - Indonesia
- IHS Mccloskey Coal Group - USA
- Bhoruka Overseas - Indonesia
- Agrawal Coal Company - India
- Ind-Barath Power Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- GVK Power & Infra Limited - India
- Coal and Oil Company - UAE
- Indogreen Group - Indonesia
- GAC Shipping (India) Pvt Ltd
- McConnell Dowell - Australia
- Antam Resourcindo - Indonesia
- South Luzon Thermal Energy Corporation
- Maheswari Brothers Coal Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Sojitz Corporation - Japan
- Deloitte Consulting - India
- White Energy Company Limited
- Bhushan Steel Limited - India
- AsiaOL BioFuels Corp., Philippines
- Carbofer General Trading SA - India
- Xindia Steels Limited - India
- Africa Commodities Group - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kumho Petrochemical, South Korea
- SMG Consultants - Indonesia
- Dalmia Cement Bharat India
- Georgia Ports Authority, United States
- Sinarmas Energy and Mining - Indonesia
- India Bulls Power Limited - India
- Jaiprakash Power Ventures ltd
- CIMB Investment Bank - Malaysia
- OPG Power Generation Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wood Mackenzie - Singapore
- MS Steel International - UAE
- Coalindo Energy - Indonesia
- The Treasury - Australian Government
- European Bulk Services B.V. - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Generating Authority of Thailand
- Port Waratah Coal Services - Australia
- The State Trading Corporation of India Ltd
- Price Waterhouse Coopers - Russia
- Globalindo Alam Lestari - Indonesia
- Sical Logistics Limited - India
- Chettinad Cement Corporation Ltd - India
- Baramulti Group, Indonesia
- Ministry of Mines - Canada
- Bulk Trading Sa - Switzerland
- Marubeni Corporation - India
- Latin American Coal - Colombia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Transport, Egypt
- Singapore Mercantile Exchange
- Manunggal Multi Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Oldendorff Carriers - Singapore
- Timah Investasi Mineral - Indoneisa
- Jindal Steel & Power Ltd - India
- Heidelberg Cement - Germany
- Kaltim Prima Coal - Indonesia
- Vedanta Resources Plc - India
- Bahari Cakrawala Sebuku - Indonesia
- Posco Energy - South Korea
- Formosa Plastics Group - Taiwan
- Meenaskhi Energy Private Limited - India
- Mercator Lines Limited - India
- Directorate Of Revenue Intelligence - India
- Aboitiz Power Corporation - Philippines
- Bhatia International Limited - India
- Miang Besar Coal Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Larsen & Toubro Limited - India
- CNBM International Corporation - China
- Semirara Mining Corp, Philippines
- Indian Energy Exchange, India
- Metalloyd Limited - United Kingdom
- New Zealand Coal & Carbon
- Kohat Cement Company Ltd. - Pakistan
- Makarim & Taira - Indonesia
- Indo Tambangraya Megah - Indonesia
- London Commodity Brokers - England
- Jorong Barutama Greston.PT - Indonesia
- Eastern Energy - Thailand
- Madhucon Powers Ltd - India
- Mintek Dendrill Indonesia
- Edison Trading Spa - Italy
- Kobexindo Tractors - Indoneisa
- TeaM Sual Corporation - Philippines
- VISA Power Limited - India
- Binh Thuan Hamico - Vietnam
- Goldman Sachs - Singapore
- Toyota Tsusho Corporation, Japan
- Orica Mining Services - Indonesia
- Electricity Authority, New Zealand
- Videocon Industries ltd - India
- Petron Corporation, Philippines
- Chamber of Mines of South Africa
- PTC India Limited - India
- Kideco Jaya Agung - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Maharashtra Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Therma Luzon, Inc, Philippines
- Mjunction Services Limited - India
- Altura Mining Limited, Indonesia
- Siam City Cement - Thailand
- Simpson Spence & Young - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Karbindo Abesyapradhi - Indoneisa
- Eastern Coal Council - USA
- Barasentosa Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Bharathi Cement Corporation - India
- Rio Tinto Coal - Australia
- Economic Council, Georgia
- Directorate General of MIneral and Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Riau Bara Harum - Indonesia
- Global Coal Blending Company Limited - Australia
- Krishnapatnam Port Company Ltd. - India
- Kartika Selabumi Mining - Indonesia
- Essar Steel Hazira Ltd - India
- Power Finance Corporation Ltd., India
- Global Business Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Indika Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Medco Energi Mining Internasional
- Siam City Cement PLC, Thailand
- Commonwealth Bank - Australia
- Gujarat Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- ICICI Bank Limited - India
- Romanian Commodities Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Savvy Resources Ltd - HongKong
- Indonesian Coal Mining Association
- Merrill Lynch Commodities Europe
- Thai Mozambique Logistica
- Samtan Co., Ltd - South Korea
- Sindya Power Generating Company Private Ltd
- Semirara Mining and Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Sidhee Cement - India
- Kapuas Tunggal Persada - Indonesia
- Mercuria Energy - Indonesia
- Uttam Galva Steels Limited - India
- Salva Resources Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Parliament of New Zealand
- Karaikal Port Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- GMR Energy Limited - India
- Sree Jayajothi Cements Limited - India
- Ambuja Cements Ltd - India
- ASAPP Information Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wilmar Investment Holdings
- SN Aboitiz Power Inc, Philippines
- Lanco Infratech Ltd - India
- IEA Clean Coal Centre - UK
- Star Paper Mills Limited - India
- Meralco Power Generation, Philippines
- Thiess Contractors Indonesia
- Bukit Makmur.PT - Indonesia
- Minerals Council of Australia
- Coastal Gujarat Power Limited - India
- Attock Cement Pakistan Limited
- Australian Coal Association
- Energy Development Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- The University of Queensland
- Tata Chemicals Ltd - India
- International Coal Ventures Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Renaissance Capital - South Africa
- Iligan Light & Power Inc, Philippines
- Planning Commission, India
- Parry Sugars Refinery, India
- Global Green Power PLC Corporation, Philippines
- Interocean Group of Companies - India
- Pipit Mutiara Jaya. PT, Indonesia
- Trasteel International SA, Italy
- Vizag Seaport Private Limited - India
- Central Electricity Authority - India
- Central Java Power - Indonesia
- Anglo American - United Kingdom
- Malabar Cements Ltd - India
- Aditya Birla Group - India
- Pendopo Energi Batubara - Indonesia
- Independent Power Producers Association of India
- Tamil Nadu electricity Board
- Banpu Public Company Limited - Thailand
- Cement Manufacturers Association - India
- Bangladesh Power Developement Board
- Sarangani Energy Corporation, Philippines
- Grasim Industreis Ltd - India
- Borneo Indobara - Indonesia
- Australian Commodity Traders Exchange
- Indian Oil Corporation Limited
- SMC Global Power, Philippines
- Straits Asia Resources Limited - Singapore
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