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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, 23 July 14
HARD COAL 2013: THE WORLD'S SECOND-MOST IMPORTANT ENERGY SOURCE AND GUARANTOR FOR THE SECURITY OF ENERGY SUPPLIES DURING TIMES OF CRISIS
Hard coal is again in 2013 the fastest-growing fossil primary energy source in the world. As shown in the BP Statistical Review 2014, it covered ab ...
Tuesday, 22 July 14
INDONESIAN ELECTION RESULT ENCOURAGING FOR FOREIGN INVESTMENT IN ENERGY AND MINING SECTORS - WOOD MACKENZIE
Joko Widodo-Jusuf Kalla has been announced as the official winner of Indonesia's presidential election. Joko Widodo, or Jokowi, is viewed as a ...
Tuesday, 22 July 14
THE CURRENT COAL PRICES ARE UNPROFITABLE FOR MINERS; COAL PRICES WILL GRADUALLY INCREASE - FITCH
COALspot.com: The Fitch Ratings expect the benchmark Newcastle coal prices (currently at about USD70/MT) to gradually increase.
Fitch's la ...
Tuesday, 22 July 14
SUB-BIT FOB INDONESIA COAL Q3' 14 DOWN 5.21%; Q4' 14 DOWN 3.56%; Q1' 15 DOWN 4.75% M-O-M
COALspot.com: Indonesian coal swaps for average Q3’ 2014 flat on day, weak week on week and on month according to AsiaClear OTC coal swap' ...
Tuesday, 22 July 14
INDONESIA'S MINERAL EXPORT BAN: CHINA UNDER PRESSURE? - CLARKSONS
In January 2014, Indonesia introduced new regulations on exports of unprocessed minerals. Exports of some minerals have been heavily taxed, whilst ...
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- Altura Mining Limited, Indonesia
- Simpson Spence & Young - Indonesia
- Sree Jayajothi Cements Limited - India
- Savvy Resources Ltd - HongKong
- Directorate Of Revenue Intelligence - India
- Posco Energy - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Interocean Group of Companies - India
- Borneo Indobara - Indonesia
- Indonesian Coal Mining Association
- Maheswari Brothers Coal Limited - India
- Thiess Contractors Indonesia
- Indogreen Group - Indonesia
- Leighton Contractors Pty Ltd - Australia
- MS Steel International - UAE
- Global Business Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Independent Power Producers Association of India
- San Jose City I Power Corp, Philippines
- Australian Commodity Traders Exchange
- Sakthi Sugars Limited - India
- Bhushan Steel Limited - India
- European Bulk Services B.V. - Netherlands
- Sinarmas Energy and Mining - Indonesia
- The State Trading Corporation of India Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Meenaskhi Energy Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- LBH Netherlands Bv - Netherlands
- PowerSource Philippines DevCo
- Bukit Makmur.PT - Indonesia
- Romanian Commodities Exchange
- Sarangani Energy Corporation, Philippines
- Petron Corporation, Philippines
- Indian Oil Corporation Limited
- Binh Thuan Hamico - Vietnam
- Semirara Mining Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Meralco Power Generation, Philippines
- Makarim & Taira - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Marubeni Corporation - India
- ASAPP Information Group - India
- McConnell Dowell - Australia
- Economic Council, Georgia
- Parliament of New Zealand
- Africa Commodities Group - South Africa
- Bangladesh Power Developement Board
- PetroVietnam Power Coal Import and Supply Company
- Price Waterhouse Coopers - Russia
- SMC Global Power, Philippines
- Coastal Gujarat Power Limited - India
- Indika Energy - Indonesia
- Electricity Generating Authority of Thailand
- Indian Energy Exchange, India
- South Luzon Thermal Energy Corporation
- Ministry of Transport, Egypt
- Merrill Lynch Commodities Europe
- Rio Tinto Coal - Australia
- Agrawal Coal Company - India
- The University of Queensland
- Carbofer General Trading SA - India
- Metalloyd Limited - United Kingdom
- Thai Mozambique Logistica
- GN Power Mariveles Coal Plant, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Manunggal Multi Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- Intertek Mineral Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wood Mackenzie - Singapore
- AsiaOL BioFuels Corp., Philippines
- Pendopo Energi Batubara - Indonesia
- India Bulls Power Limited - India
- Renaissance Capital - South Africa
- Tata Chemicals Ltd - India
- Banpu Public Company Limited - Thailand
- Edison Trading Spa - Italy
- Madhucon Powers Ltd - India
- Central Electricity Authority - India
- Directorate General of MIneral and Coal - Indonesia
- Wilmar Investment Holdings
- Formosa Plastics Group - Taiwan
- Bhatia International Limited - India
- Minerals Council of Australia
- SN Aboitiz Power Inc, Philippines
- Georgia Ports Authority, United States
- Singapore Mercantile Exchange
- Goldman Sachs - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Baramulti Group, Indonesia
- PTC India Limited - India
- Energy Link Ltd, New Zealand
- Trasteel International SA, Italy
- Gujarat Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Xindia Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Orica Mining Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Lanco Infratech Ltd - India
- Toyota Tsusho Corporation, Japan
- Larsen & Toubro Limited - India
- Globalindo Alam Lestari - Indonesia
- Port Waratah Coal Services - Australia
- SMG Consultants - Indonesia
- Energy Development Corp, Philippines
- GVK Power & Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Parry Sugars Refinery, India
- GMR Energy Limited - India
- International Coal Ventures Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- Aditya Birla Group - India
- Kepco SPC Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Tamil Nadu electricity Board
- CIMB Investment Bank - Malaysia
- Commonwealth Bank - Australia
- Videocon Industries ltd - India
- Barasentosa Lestari - Indonesia
- Dalmia Cement Bharat India
- Jindal Steel & Power Ltd - India
- Deloitte Consulting - India
- Chamber of Mines of South Africa
- GAC Shipping (India) Pvt Ltd
- The Treasury - Australian Government
- Iligan Light & Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Siam City Cement - Thailand
- Indo Tambangraya Megah - Indonesia
- Grasim Industreis Ltd - India
- Siam City Cement PLC, Thailand
- Rashtriya Ispat Nigam Limited - India
- Bhoruka Overseas - Indonesia
- Eastern Coal Council - USA
- Eastern Energy - Thailand
- Latin American Coal - Colombia
- Power Finance Corporation Ltd., India
- CNBM International Corporation - China
- Australian Coal Association
- Riau Bara Harum - Indonesia
- Chettinad Cement Corporation Ltd - India
- Uttam Galva Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Ministry of Mines - Canada
- Standard Chartered Bank - UAE
- Bukit Baiduri Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Karaikal Port Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Vedanta Resources Plc - India
- London Commodity Brokers - England
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jaiprakash Power Ventures ltd
- Antam Resourcindo - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- New Zealand Coal & Carbon
- Medco Energi Mining Internasional
- Attock Cement Pakistan Limited
- Kobexindo Tractors - Indoneisa
- Mjunction Services Limited - India
- Global Green Power PLC Corporation, Philippines
- Sical Logistics Limited - India
- Samtan Co., Ltd - South Korea
- Timah Investasi Mineral - Indoneisa
- IEA Clean Coal Centre - UK
- Vizag Seaport Private Limited - India
- Coalindo Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Krishnapatnam Port Company Ltd. - India
- Ceylon Electricity Board - Sri Lanka
- Mercator Lines Limited - India
- Bharathi Cement Corporation - India
- Malabar Cements Ltd - India
- Gujarat Sidhee Cement - India
- Billiton Holdings Pty Ltd - Australia
- Sojitz Corporation - Japan
- Aboitiz Power Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Ambuja Cements Ltd - India
- White Energy Company Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Sindya Power Generating Company Private Ltd
- Asmin Koalindo Tuhup - Indonesia
- VISA Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Oldendorff Carriers - Singapore
- Anglo American - United Kingdom
- Electricity Authority, New Zealand
- Planning Commission, India
- Kumho Petrochemical, South Korea
- Mintek Dendrill Indonesia
- Heidelberg Cement - Germany
- Global Coal Blending Company Limited - Australia
- Ministry of Finance - Indonesia
- Star Paper Mills Limited - India
- Coal and Oil Company - UAE
- Bayan Resources Tbk. - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Cement Manufacturers Association - India
- Mercuria Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Central Java Power - Indonesia
- IHS Mccloskey Coal Group - USA
- Gujarat Mineral Development Corp Ltd - India
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