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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, 10 July 14
SGX EXPANDS ACROSS THE BULKS WITH NEW COAL PRODUCTS
COALspot.com: Singapore Exchange (SGX) is expanding its bulk commodity derivatives offering by launching new coking and thermal coal products on 4 ...
Thursday, 10 July 14
HANDY: SMALL INCREASE; PANAMAX: POSITIVE TONE; CAPESIZE: PAPER VALUES REMAIN WEEK
Handy
It is a general increase in activity in both hemispheres whereas rates have just experienced a small increase. In the Feast we see stable a ...
Wednesday, 09 July 14
SHIP INVESTMENTS ARE TRENDING LOWER
Most ship owners are deeming current ship prices on the high side, refraining from making serious commitments in new acquisitions or newbuilding or ...
Wednesday, 09 July 14
INDIAN GOVERNMENT ADVISED POWER UTILITIES TO INCREASE COAL IMPORTS
COALspot.com: The government of India has advised power utilities to increase coal imports to meet fuel shortages and those that have fuel supply p ...
Wednesday, 09 July 14
PANAMAX MARKET FINALLY CORRECTING UPWARDS; AVERAGE TC MORE THAN DOUBLING WEEK ON WEEK - INTERMODAL
The Dry Bulk market has closed off on Friday on a more positive note, with most segments noting weekly gains and the Panamax market finally correct ...
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- Kobexindo Tractors - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Bukit Baiduri Energy - Indonesia
- Uttam Galva Steels Limited - India
- Savvy Resources Ltd - HongKong
- Mjunction Services Limited - India
- Minerals Council of Australia
- The University of Queensland
- Borneo Indobara - Indonesia
- South Luzon Thermal Energy Corporation
- Central Java Power - Indonesia
- Simpson Spence & Young - Indonesia
- Altura Mining Limited, Indonesia
- Wilmar Investment Holdings
- Dalmia Cement Bharat India
- Global Coal Blending Company Limited - Australia
- Latin American Coal - Colombia
- IHS Mccloskey Coal Group - USA
- Maharashtra Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- The State Trading Corporation of India Ltd
- Economic Council, Georgia
- Central Electricity Authority - India
- Marubeni Corporation - India
- Bangladesh Power Developement Board
- Toyota Tsusho Corporation, Japan
- Lanco Infratech Ltd - India
- Manunggal Multi Energi - Indonesia
- Thai Mozambique Logistica
- Binh Thuan Hamico - Vietnam
- Maheswari Brothers Coal Limited - India
- Cement Manufacturers Association - India
- Interocean Group of Companies - India
- Energy Link Ltd, New Zealand
- Africa Commodities Group - South Africa
- ASAPP Information Group - India
- Wood Mackenzie - Singapore
- Formosa Plastics Group - Taiwan
- Madhucon Powers Ltd - India
- Posco Energy - South Korea
- Aboitiz Power Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Singapore Mercantile Exchange
- Kohat Cement Company Ltd. - Pakistan
- Vedanta Resources Plc - India
- New Zealand Coal & Carbon
- Straits Asia Resources Limited - Singapore
- Parliament of New Zealand
- International Coal Ventures Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Bhushan Steel Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Bhatia International Limited - India
- Global Green Power PLC Corporation, Philippines
- Aditya Birla Group - India
- Miang Besar Coal Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- SMG Consultants - Indonesia
- Rio Tinto Coal - Australia
- Baramulti Group, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Trasteel International SA, Italy
- Eastern Coal Council - USA
- Chamber of Mines of South Africa
- TeaM Sual Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Timah Investasi Mineral - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- Edison Trading Spa - Italy
- Bayan Resources Tbk. - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Alfred C Toepfer International GmbH - Germany
- Kideco Jaya Agung - Indonesia
- Orica Mining Services - Indonesia
- GVK Power & Infra Limited - India
- Electricity Authority, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Makmur.PT - Indonesia
- Tamil Nadu electricity Board
- Kalimantan Lumbung Energi - Indonesia
- Indonesian Coal Mining Association
- Bhoruka Overseas - Indonesia
- Chettinad Cement Corporation Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Coal and Oil Company - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- McConnell Dowell - Australia
- Ind-Barath Power Infra Limited - India
- Indika Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- SMC Global Power, Philippines
- Grasim Industreis Ltd - India
- Electricity Generating Authority of Thailand
- Deloitte Consulting - India
- Sakthi Sugars Limited - India
- Sarangani Energy Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Global Business Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Makarim & Taira - Indonesia
- Meenaskhi Energy Private Limited - India
- Banpu Public Company Limited - Thailand
- Ministry of Mines - Canada
- Indian Energy Exchange, India
- PTC India Limited - India
- Georgia Ports Authority, United States
- Australian Commodity Traders Exchange
- London Commodity Brokers - England
- Anglo American - United Kingdom
- Coalindo Energy - Indonesia
- Ambuja Cements Ltd - India
- Thiess Contractors Indonesia
- Romanian Commodities Exchange
- Kapuas Tunggal Persada - Indonesia
- Energy Development Corp, Philippines
- Orica Australia Pty. Ltd.
- Oldendorff Carriers - Singapore
- CNBM International Corporation - China
- Petron Corporation, Philippines
- Australian Coal Association
- Goldman Sachs - Singapore
- Essar Steel Hazira Ltd - India
- Salva Resources Pvt Ltd - India
- Parry Sugars Refinery, India
- Semirara Mining and Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Merrill Lynch Commodities Europe
- Bulk Trading Sa - Switzerland
- Mercator Lines Limited - India
- Heidelberg Cement - Germany
- PowerSource Philippines DevCo
- Directorate General of MIneral and Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Standard Chartered Bank - UAE
- Jaiprakash Power Ventures ltd
- Commonwealth Bank - Australia
- Ministry of Transport, Egypt
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement PLC, Thailand
- Jorong Barutama Greston.PT - Indonesia
- Eastern Energy - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sindya Power Generating Company Private Ltd
- White Energy Company Limited
- Sree Jayajothi Cements Limited - India
- Siam City Cement - Thailand
- Sinarmas Energy and Mining - Indonesia
- MS Steel International - UAE
- LBH Netherlands Bv - Netherlands
- European Bulk Services B.V. - Netherlands
- GMR Energy Limited - India
- Indian Oil Corporation Limited
- The Treasury - Australian Government
- Rashtriya Ispat Nigam Limited - India
- Gujarat Sidhee Cement - India
- SN Aboitiz Power Inc, Philippines
- ICICI Bank Limited - India
- Ministry of Finance - Indonesia
- Vizag Seaport Private Limited - India
- Meralco Power Generation, Philippines
- CIMB Investment Bank - Malaysia
- Pendopo Energi Batubara - Indonesia
- Riau Bara Harum - Indonesia
- Karaikal Port Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bahari Cakrawala Sebuku - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kumho Petrochemical, South Korea
- Larsen & Toubro Limited - India
- India Bulls Power Limited - India
- Independent Power Producers Association of India
- Carbofer General Trading SA - India
- Mintek Dendrill Indonesia
- Star Paper Mills Limited - India
- Kepco SPC Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Renaissance Capital - South Africa
- AsiaOL BioFuels Corp., Philippines
- Indogreen Group - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Attock Cement Pakistan Limited
- Malabar Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercuria Energy - Indonesia
- Power Finance Corporation Ltd., India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Iligan Light & Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- VISA Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Videocon Industries ltd - India
- Planning Commission, India
- Therma Luzon, Inc, Philippines
- Bharathi Cement Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Tata Chemicals Ltd - India
- Kaltim Prima Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Barasentosa Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- Coastal Gujarat Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Cigading International Bulk Terminal - Indonesia
- Xindia Steels Limited - India
- Agrawal Coal Company - India
- Port Waratah Coal Services - Australia
- Sical Logistics Limited - India
- IEA Clean Coal Centre - UK
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