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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, 16 July 14
WEEKLY SHIPPING MARKET INSIGHT - INTERMODAL
Wake me up when September ends - Theodore Ntalakos
Since last September most thought that the worst was behind us. It looks like the market de ...
Tuesday, 15 July 14
INDONESIA'S TOTAL COAL PRODUCTION REACHED ANOTHER HIGH DURING THE FIRST SIX MONTHS; GOVERNMENT EXPECTED TO RAISE ROYALTIES
COALspot.com: Indonesia's total coal production reached 213 million tons during January through June, up by 7.6 percent y-o-y. Coal output in I ...
Monday, 14 July 14
THE END OF THE ERA OF HEAVY FUEL OIL IN MARITIME SHIPPING - ICCT
KNOWLEDGE TO ELEVATE
Since the 1960s, heavy fuel oil (HFO) has been the king of marine fuels. Viscous, dirty, yet inexpensive and widely avail ...
Monday, 14 July 14
SGX SUB-BIT FOB INDONESIA COAL SWAP FOR Q4' 14 DELIVERY CLOSED AT $ 54.80
COALspot.com: Indonesian coal swaps for average Q3’ 2014 lost on day, week and on month according to AsiaClear OTC coal swap's reports re ...
Monday, 14 July 14
SGX CFR SOUTH CHINA COAL SWAP FOR Q3' 14 LOST 17.29% SINCE EARLY JANUARY 2014
COALspot.com: Coal price falling is continues as the impact oversupply and lower demand. API 8 CFR South China Coal swap for delivery in Q3 drops U ...
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- SMG Consultants - Indonesia
- Medco Energi Mining Internasional
- PNOC Exploration Corporation - Philippines
- Commonwealth Bank - Australia
- Romanian Commodities Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Samtan Co., Ltd - South Korea
- TeaM Sual Corporation - Philippines
- Agrawal Coal Company - India
- Riau Bara Harum - Indonesia
- Attock Cement Pakistan Limited
- CNBM International Corporation - China
- Kalimantan Lumbung Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Trasteel International SA, Italy
- McConnell Dowell - Australia
- Ambuja Cements Ltd - India
- ASAPP Information Group - India
- Port Waratah Coal Services - Australia
- Minerals Council of Australia
- Bhushan Steel Limited - India
- Energy Development Corp, Philippines
- Baramulti Group, Indonesia
- Meralco Power Generation, Philippines
- Pendopo Energi Batubara - Indonesia
- Ind-Barath Power Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- GMR Energy Limited - India
- Metalloyd Limited - United Kingdom
- Parry Sugars Refinery, India
- Manunggal Multi Energi - Indonesia
- Indika Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Banpu Public Company Limited - Thailand
- Chamber of Mines of South Africa
- Bhatia International Limited - India
- Global Green Power PLC Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- The State Trading Corporation of India Ltd
- Central Electricity Authority - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Cement Manufacturers Association - India
- Australian Commodity Traders Exchange
- Straits Asia Resources Limited - Singapore
- Neyveli Lignite Corporation Ltd, - India
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Star Paper Mills Limited - India
- Ministry of Transport, Egypt
- Anglo American - United Kingdom
- Rio Tinto Coal - Australia
- Gujarat Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Marubeni Corporation - India
- Wood Mackenzie - Singapore
- Indian Energy Exchange, India
- Coalindo Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Thai Mozambique Logistica
- Vedanta Resources Plc - India
- Leighton Contractors Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Ceylon Electricity Board - Sri Lanka
- Globalindo Alam Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Bukit Makmur.PT - Indonesia
- Altura Mining Limited, Indonesia
- Standard Chartered Bank - UAE
- PetroVietnam Power Coal Import and Supply Company
- Australian Coal Association
- Tata Chemicals Ltd - India
- Global Business Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- SN Aboitiz Power Inc, Philippines
- MS Steel International - UAE
- Kideco Jaya Agung - Indonesia
- Indogreen Group - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Borneo Indobara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Therma Luzon, Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Sree Jayajothi Cements Limited - India
- Coastal Gujarat Power Limited - India
- Mintek Dendrill Indonesia
- International Coal Ventures Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Orica Mining Services - Indonesia
- Ministry of Finance - Indonesia
- Indian Oil Corporation Limited
- Eastern Energy - Thailand
- Mjunction Services Limited - India
- Independent Power Producers Association of India
- Price Waterhouse Coopers - Russia
- Georgia Ports Authority, United States
- Eastern Coal Council - USA
- OPG Power Generation Pvt Ltd - India
- Sojitz Corporation - Japan
- Parliament of New Zealand
- Makarim & Taira - Indonesia
- Aboitiz Power Corporation - Philippines
- Petron Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhoruka Overseas - Indonesia
- Vizag Seaport Private Limited - India
- PowerSource Philippines DevCo
- Sinarmas Energy and Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Ministry of Mines - Canada
- Toyota Tsusho Corporation, Japan
- Gujarat Sidhee Cement - India
- New Zealand Coal & Carbon
- Videocon Industries ltd - India
- Mercator Lines Limited - India
- Antam Resourcindo - Indonesia
- Miang Besar Coal Terminal - Indonesia
- India Bulls Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kobexindo Tractors - Indoneisa
- Intertek Mineral Services - Indonesia
- Indonesian Coal Mining Association
- Renaissance Capital - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Bangladesh Power Developement Board
- IHS Mccloskey Coal Group - USA
- Electricity Authority, New Zealand
- Bulk Trading Sa - Switzerland
- Africa Commodities Group - South Africa
- GAC Shipping (India) Pvt Ltd
- Formosa Plastics Group - Taiwan
- London Commodity Brokers - England
- Siam City Cement PLC, Thailand
- Lanco Infratech Ltd - India
- Grasim Industreis Ltd - India
- Mercuria Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- SMC Global Power, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Heidelberg Cement - Germany
- Singapore Mercantile Exchange
- Kepco SPC Power Corporation, Philippines
- Planning Commission, India
- Karaikal Port Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Timah Investasi Mineral - Indoneisa
- Bharathi Cement Corporation - India
- Coal and Oil Company - UAE
- Sakthi Sugars Limited - India
- Edison Trading Spa - Italy
- Orica Australia Pty. Ltd.
- CIMB Investment Bank - Malaysia
- ICICI Bank Limited - India
- Dalmia Cement Bharat India
- Jindal Steel & Power Ltd - India
- Savvy Resources Ltd - HongKong
- Iligan Light & Power Inc, Philippines
- Larsen & Toubro Limited - India
- The University of Queensland
- Aditya Birla Group - India
- White Energy Company Limited
- Energy Link Ltd, New Zealand
- Xindia Steels Limited - India
- Sarangani Energy Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Malabar Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- VISA Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Oldendorff Carriers - Singapore
- Wilmar Investment Holdings
- Kaltim Prima Coal - Indonesia
- Latin American Coal - Colombia
- Maheswari Brothers Coal Limited - India
- Sical Logistics Limited - India
- Kumho Petrochemical, South Korea
- Tamil Nadu electricity Board
- Carbofer General Trading SA - India
- GVK Power & Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Thiess Contractors Indonesia
- PTC India Limited - India
- Barasentosa Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- Interocean Group of Companies - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Kartika Selabumi Mining - Indonesia
- Posco Energy - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement - Thailand
- Semirara Mining Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Goldman Sachs - Singapore
- Merrill Lynch Commodities Europe
- Salva Resources Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Jaiprakash Power Ventures ltd
- Binh Thuan Hamico - Vietnam
- Economic Council, Georgia
- Bahari Cakrawala Sebuku - Indonesia
- European Bulk Services B.V. - Netherlands
- The Treasury - Australian Government
- South Luzon Thermal Energy Corporation
- Electricity Generating Authority of Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate General of MIneral and Coal - Indonesia
- Deloitte Consulting - India
- Uttam Galva Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
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