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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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Tuesday, 22 July 14
ASIAN SUB-BITUMINOUS COAL USERS' GROUP CONFERENCE
Press Release: Registration Open for Fourth Annual Asian Sub-Bituminous Coal Users’ Group Conference
Register today for this year&r ...
Monday, 21 July 14
25% OF INDIA'S POWER PLANTS WERE HAVING SUPER CRITICAL COAL STOCK - COAL AND POWER MINISTER
25% of India’s power plants were having super critical coal stock; power utilities have also been advised to enhance the import of coal - Coa ...
Monday, 21 July 14
INDONESIA'S STATE CONTROLLED COAL MINER BUKIT ASAM ENJOYED HIGHER SELLING PRICE DURING THIS STORMY MARKET
COALspot.com: PT Bukit Asam, the Indonesian government controlled coal miner announced today that, the company has produced 7.70 million tons of co ...
Monday, 21 July 14
CFR SOUTH CHINA COAL Q3 DELIVERY SWAPS LOST 16% SINCE JANUARY 17, 2014
COALspot.com: Coal price falling is continues as the impact oversupply and lower demand. Market is not showing any positive trend in near future.
...
Sunday, 20 July 14
THE FREIGHT MARKET CONTINUED ITS DOWNWARD TREND
COALspot.com: The market continued its downward trend this week as all segments were down compared to last week. The Cape and Panamax indices being ...
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- Orica Mining Services - Indonesia
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- TNB Fuel Sdn Bhd - Malaysia
- Banpu Public Company Limited - Thailand
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- McConnell Dowell - Australia
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- Eastern Energy - Thailand
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- Formosa Plastics Group - Taiwan
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- CNBM International Corporation - China
- Global Coal Blending Company Limited - Australia
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meenaskhi Energy Private Limited - India
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
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- Directorate General of MIneral and Coal - Indonesia
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- Bharathi Cement Corporation - India
- Bhushan Steel Limited - India
- Chamber of Mines of South Africa
- Sojitz Corporation - Japan
- Global Business Power Corporation, Philippines
- Romanian Commodities Exchange
- CIMB Investment Bank - Malaysia
- Edison Trading Spa - Italy
- Indo Tambangraya Megah - Indonesia
- Sindya Power Generating Company Private Ltd
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- Independent Power Producers Association of India
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- Dalmia Cement Bharat India
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- International Coal Ventures Pvt Ltd - India
- Australian Coal Association
- Renaissance Capital - South Africa
- South Luzon Thermal Energy Corporation
- Kapuas Tunggal Persada - Indonesia
- Sakthi Sugars Limited - India
- Salva Resources Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Energy Development Corp, Philippines
- Ministry of Transport, Egypt
- Savvy Resources Ltd - HongKong
- The State Trading Corporation of India Ltd
- Leighton Contractors Pty Ltd - Australia
- Ministry of Mines - Canada
- Energy Link Ltd, New Zealand
- Iligan Light & Power Inc, Philippines
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- Alfred C Toepfer International GmbH - Germany
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- Bukit Asam (Persero) Tbk - Indonesia
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- Semirara Mining Corp, Philippines
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- Trasteel International SA, Italy
- Riau Bara Harum - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Intertek Mineral Services - Indonesia
- Uttam Galva Steels Limited - India
- Deloitte Consulting - India
- GVK Power & Infra Limited - India
- ICICI Bank Limited - India
- Manunggal Multi Energi - Indonesia
- Minerals Council of Australia
- The Treasury - Australian Government
- Georgia Ports Authority, United States
- TeaM Sual Corporation - Philippines
- Kaltim Prima Coal - Indonesia
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- Pipit Mutiara Jaya. PT, Indonesia
- Economic Council, Georgia
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- Bank of Tokyo Mitsubishi UFJ Ltd
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- Coal and Oil Company - UAE
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- Singapore Mercantile Exchange
- Madhucon Powers Ltd - India
- Metalloyd Limited - United Kingdom
- Kumho Petrochemical, South Korea
- Planning Commission, India
- Standard Chartered Bank - UAE
- Straits Asia Resources Limited - Singapore
- Indian Oil Corporation Limited
- Ceylon Electricity Board - Sri Lanka
- Agrawal Coal Company - India
- Parliament of New Zealand
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- Larsen & Toubro Limited - India
- Electricity Generating Authority of Thailand
- Rio Tinto Coal - Australia
- Bangladesh Power Developement Board
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- Thai Mozambique Logistica
- Wilmar Investment Holdings
- Australian Commodity Traders Exchange
- The University of Queensland
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- Karbindo Abesyapradhi - Indoneisa
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- New Zealand Coal & Carbon
- Jorong Barutama Greston.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Indonesian Coal Mining Association
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- Grasim Industreis Ltd - India
- Miang Besar Coal Terminal - Indonesia
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- Maharashtra Electricity Regulatory Commission - India
- Mjunction Services Limited - India
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- Asia Pacific Energy Resources Ventures Inc, Philippines
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- Port Waratah Coal Services - Australia
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- IEA Clean Coal Centre - UK
- Africa Commodities Group - South Africa
- Indian Energy Exchange, India
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- Electricity Authority, New Zealand
- Barasentosa Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- White Energy Company Limited
- Mintek Dendrill Indonesia
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- Neyveli Lignite Corporation Ltd, - India
- India Bulls Power Limited - India
- Price Waterhouse Coopers - Russia
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- Interocean Group of Companies - India
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