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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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Friday, 18 July 14
3RD CHINA INTERNATIONAL SHALE GAS SUMMIT
Building on the massive success of the past 2 shale gas programs that has generated huge success by attracting 500+ industry players, and intrig ...
Friday, 18 July 14
US WEEKLY COAL PRODUCTION UP BY 1.4% TO 18.3 MMST
COALspot.com – United States the world's second largest coal producer, produced approximately 18.3 million short tons (mmst) of coal in a ...
Thursday, 17 July 14
PANAMAX : MARKET HAS COOLED DOWN AGAIN TO LOW AND DEPRESSED LEVELS
Handy
The supra market remains pretty flat in the Atlantic while for the smaller sizes there has been little reported with ships chasing business ...
Thursday, 17 July 14
INDIAN GOVERNMENT WISE TO TAKE ADVANTAGE OF CURRENTLY LOW THERMAL COAL PRICES AND SHIPPING RATES - JEFFREY LANDSBERG
With thermal coal import prices (and also shipping rates) very low at present, India's government would be very wise to take advantage of curre ...
Wednesday, 16 July 14
INDIA BUDGET HAS LIMITED SHORT TERM IMPACT ON POWER SECTOR - FITCH RATINGS
Fitch Ratings says that the measures announced relating to India's electricity sector in the budget for FY2015 are directionally correct but in ...
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- Renaissance Capital - South Africa
- Pendopo Energi Batubara - Indonesia
- Uttam Galva Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- Salva Resources Pvt Ltd - India
- Posco Energy - South Korea
- Maheswari Brothers Coal Limited - India
- Semirara Mining and Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Kumho Petrochemical, South Korea
- ASAPP Information Group - India
- Gujarat Mineral Development Corp Ltd - India
- GMR Energy Limited - India
- Toyota Tsusho Corporation, Japan
- Aditya Birla Group - India
- Holcim Trading Pte Ltd - Singapore
- Tata Chemicals Ltd - India
- Parry Sugars Refinery, India
- Sindya Power Generating Company Private Ltd
- Australian Commodity Traders Exchange
- Meenaskhi Energy Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bayan Resources Tbk. - Indonesia
- Gujarat Sidhee Cement - India
- Electricity Authority, New Zealand
- Port Waratah Coal Services - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Generating Authority of Thailand
- International Coal Ventures Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Petron Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- White Energy Company Limited
- Bhoruka Overseas - Indonesia
- Baramulti Group, Indonesia
- Sical Logistics Limited - India
- Dalmia Cement Bharat India
- Jorong Barutama Greston.PT - Indonesia
- Indika Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Alfred C Toepfer International GmbH - Germany
- LBH Netherlands Bv - Netherlands
- Mercuria Energy - Indonesia
- India Bulls Power Limited - India
- European Bulk Services B.V. - Netherlands
- Madhucon Powers Ltd - India
- Chettinad Cement Corporation Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Minerals Council of Australia
- Trasteel International SA, Italy
- The University of Queensland
- Thai Mozambique Logistica
- Timah Investasi Mineral - Indoneisa
- London Commodity Brokers - England
- Edison Trading Spa - Italy
- Straits Asia Resources Limited - Singapore
- Independent Power Producers Association of India
- Romanian Commodities Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Essar Steel Hazira Ltd - India
- Carbofer General Trading SA - India
- Central Electricity Authority - India
- Anglo American - United Kingdom
- Power Finance Corporation Ltd., India
- Videocon Industries ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Antam Resourcindo - Indonesia
- Energy Link Ltd, New Zealand
- Altura Mining Limited, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Agrawal Coal Company - India
- Attock Cement Pakistan Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Coal and Oil Company - UAE
- Indogreen Group - Indonesia
- Jindal Steel & Power Ltd - India
- Directorate Of Revenue Intelligence - India
- Wood Mackenzie - Singapore
- South Luzon Thermal Energy Corporation
- Semirara Mining Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Mercator Lines Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TeaM Sual Corporation - Philippines
- Deloitte Consulting - India
- Goldman Sachs - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Star Paper Mills Limited - India
- Xindia Steels Limited - India
- Indian Energy Exchange, India
- Intertek Mineral Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Kapuas Tunggal Persada - Indonesia
- Coastal Gujarat Power Limited - India
- Kaltim Prima Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Global Business Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Indian Oil Corporation Limited
- Ministry of Transport, Egypt
- Asmin Koalindo Tuhup - Indonesia
- Cement Manufacturers Association - India
- Maharashtra Electricity Regulatory Commission - India
- Planning Commission, India
- AsiaOL BioFuels Corp., Philippines
- Iligan Light & Power Inc, Philippines
- Malabar Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Siam City Cement PLC, Thailand
- Ministry of Mines - Canada
- Sree Jayajothi Cements Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Savvy Resources Ltd - HongKong
- ICICI Bank Limited - India
- PowerSource Philippines DevCo
- Economic Council, Georgia
- Jaiprakash Power Ventures ltd
- Sarangani Energy Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Metalloyd Limited - United Kingdom
- Eastern Energy - Thailand
- CIMB Investment Bank - Malaysia
- San Jose City I Power Corp, Philippines
- The Treasury - Australian Government
- Bukit Asam (Persero) Tbk - Indonesia
- Bhushan Steel Limited - India
- PetroVietnam Power Coal Import and Supply Company
- The State Trading Corporation of India Ltd
- Borneo Indobara - Indonesia
- Orica Australia Pty. Ltd.
- SMG Consultants - Indonesia
- Coalindo Energy - Indonesia
- Wilmar Investment Holdings
- GVK Power & Infra Limited - India
- Aboitiz Power Corporation - Philippines
- MS Steel International - UAE
- Interocean Group of Companies - India
- Mintek Dendrill Indonesia
- New Zealand Coal & Carbon
- Pipit Mutiara Jaya. PT, Indonesia
- Meralco Power Generation, Philippines
- Lanco Infratech Ltd - India
- PTC India Limited - India
- OPG Power Generation Pvt Ltd - India
- Central Java Power - Indonesia
- Orica Mining Services - Indonesia
- Africa Commodities Group - South Africa
- Barasentosa Lestari - Indonesia
- Bhatia International Limited - India
- Tamil Nadu electricity Board
- Bukit Makmur.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Chamber of Mines of South Africa
- Makarim & Taira - Indonesia
- Energy Development Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- SMC Global Power, Philippines
- Global Green Power PLC Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Manunggal Multi Energi - Indonesia
- CNBM International Corporation - China
- Karbindo Abesyapradhi - Indoneisa
- Sojitz Corporation - Japan
- Singapore Mercantile Exchange
- Bangladesh Power Developement Board
- Bharathi Cement Corporation - India
- Ministry of Finance - Indonesia
- Bukit Baiduri Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Merrill Lynch Commodities Europe
- Karaikal Port Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- VISA Power Limited - India
- Kobexindo Tractors - Indoneisa
- Larsen & Toubro Limited - India
- Cigading International Bulk Terminal - Indonesia
- Australian Coal Association
- Parliament of New Zealand
- Georgia Ports Authority, United States
- Neyveli Lignite Corporation Ltd, - India
- Commonwealth Bank - Australia
- Rio Tinto Coal - Australia
- Vedanta Resources Plc - India
- Medco Energi Mining Internasional
- Marubeni Corporation - India
- Mjunction Services Limited - India
- Indonesian Coal Mining Association
- Kohat Cement Company Ltd. - Pakistan
- Samtan Co., Ltd - South Korea
- PNOC Exploration Corporation - Philippines
- Oldendorff Carriers - Singapore
- Latin American Coal - Colombia
- Eastern Coal Council - USA
- Global Coal Blending Company Limited - Australia
- McConnell Dowell - Australia
- Therma Luzon, Inc, Philippines
- Standard Chartered Bank - UAE
- Formosa Plastics Group - Taiwan
- Riau Bara Harum - Indonesia
- Sakthi Sugars Limited - India
- Rashtriya Ispat Nigam Limited - India
- Heidelberg Cement - Germany
- Globalindo Alam Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- Siam City Cement - Thailand
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