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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, 04 July 14
PARAM MITRA COAL RESOURCES SECURES US$ 7.5M INVESTMENT FROM TEMBUSU PARTNERS
Param Mitra Coal Resources Pte Ltd (“PMCR”), which owns two operating coal mines in Indonesia, has secured from Singapore private equit ...
Thursday, 03 July 14
BUMI TRANSFERS 19% OF KPC STAKE VALUED AT US$ 950 MILLION TO CIC
COALspot.com: PT. Bumi Resources announces that 19% of its holdings in Kaltim Prima Coal (KPC), valued at US$ 950 million, has been transferred to ...
Thursday, 03 July 14
PANAMAX : IN THE ATLANTIC, OWNERS ARE WILLING TO FIX AT ABOUT $2.5K PER DAY - FEARNEYS
Handy
In its latest weekly report, shipbroker Fearneys noted that, this week seems to have been more of a wait and see game between owners and ch ...
Wednesday, 02 July 14
NEWMONT FILES FOR INTERNATIONAL ARBITRATION ON ORE EXPORT BAN - THE JAKARTA POST
PT Newmont Nusa Tenggara (NNT), a subsidiary of United States-based Newmont Corporation, has filed for international arbitration against the govern ...
Wednesday, 02 July 14
THE PANAMAX MARKET CONTINUED TO BLEED FOR ANOTHER WEEK - INTERMODAL
COALspot.com: The Dry Bulk market succumbed to mounting pressure this past week, while the Capesize market proved unable to “save the day&rdq ...
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- San Jose City I Power Corp, Philippines
- MS Steel International - UAE
- Chamber of Mines of South Africa
- Bangladesh Power Developement Board
- Wood Mackenzie - Singapore
- Borneo Indobara - Indonesia
- IHS Mccloskey Coal Group - USA
- Sakthi Sugars Limited - India
- Jindal Steel & Power Ltd - India
- Independent Power Producers Association of India
- Leighton Contractors Pty Ltd - Australia
- The Treasury - Australian Government
- Kaltim Prima Coal - Indonesia
- Tamil Nadu electricity Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jaiprakash Power Ventures ltd
- Intertek Mineral Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kideco Jaya Agung - Indonesia
- Agrawal Coal Company - India
- Commonwealth Bank - Australia
- Romanian Commodities Exchange
- Sojitz Corporation - Japan
- Kepco SPC Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Sical Logistics Limited - India
- Global Business Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Mintek Dendrill Indonesia
- Sarangani Energy Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- PTC India Limited - India
- Power Finance Corporation Ltd., India
- White Energy Company Limited
- Bahari Cakrawala Sebuku - Indonesia
- Makarim & Taira - Indonesia
- Anglo American - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Edison Trading Spa - Italy
- AsiaOL BioFuels Corp., Philippines
- Kobexindo Tractors - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Mjunction Services Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Bukit Baiduri Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Tata Chemicals Ltd - India
- Directorate Of Revenue Intelligence - India
- Ministry of Finance - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Singapore Mercantile Exchange
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement PLC, Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- VISA Power Limited - India
- Madhucon Powers Ltd - India
- Lanco Infratech Ltd - India
- Barasentosa Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Australian Commodity Traders Exchange
- Global Coal Blending Company Limited - Australia
- Bharathi Cement Corporation - India
- Latin American Coal - Colombia
- GN Power Mariveles Coal Plant, Philippines
- Eastern Coal Council - USA
- CIMB Investment Bank - Malaysia
- Ministry of Mines - Canada
- Price Waterhouse Coopers - Russia
- Binh Thuan Hamico - Vietnam
- Planning Commission, India
- Ind-Barath Power Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Kumho Petrochemical, South Korea
- Goldman Sachs - Singapore
- Central Java Power - Indonesia
- Orica Mining Services - Indonesia
- Grasim Industreis Ltd - India
- Africa Commodities Group - South Africa
- Malabar Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Economic Council, Georgia
- Meenaskhi Energy Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Parliament of New Zealand
- PNOC Exploration Corporation - Philippines
- Bhushan Steel Limited - India
- SMC Global Power, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- GVK Power & Infra Limited - India
- Ambuja Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Attock Cement Pakistan Limited
- Coal and Oil Company - UAE
- Savvy Resources Ltd - HongKong
- Sinarmas Energy and Mining - Indonesia
- Riau Bara Harum - Indonesia
- New Zealand Coal & Carbon
- Semirara Mining Corp, Philippines
- Heidelberg Cement - Germany
- Petron Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Central Electricity Authority - India
- Cigading International Bulk Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhatia International Limited - India
- Port Waratah Coal Services - Australia
- Maheswari Brothers Coal Limited - India
- Antam Resourcindo - Indonesia
- Therma Luzon, Inc, Philippines
- Star Paper Mills Limited - India
- Oldendorff Carriers - Singapore
- Bulk Trading Sa - Switzerland
- Rio Tinto Coal - Australia
- Karbindo Abesyapradhi - Indoneisa
- Iligan Light & Power Inc, Philippines
- ICICI Bank Limited - India
- CNBM International Corporation - China
- Holcim Trading Pte Ltd - Singapore
- Merrill Lynch Commodities Europe
- Marubeni Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Aditya Birla Group - India
- Formosa Plastics Group - Taiwan
- Essar Steel Hazira Ltd - India
- Bayan Resources Tbk. - Indonesia
- Renaissance Capital - South Africa
- Bhoruka Overseas - Indonesia
- Salva Resources Pvt Ltd - India
- Coalindo Energy - Indonesia
- Thiess Contractors Indonesia
- European Bulk Services B.V. - Netherlands
- Electricity Generating Authority of Thailand
- Medco Energi Mining Internasional
- India Bulls Power Limited - India
- Altura Mining Limited, Indonesia
- Gujarat Sidhee Cement - India
- Cement Manufacturers Association - India
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Transport, Egypt
- Indonesian Coal Mining Association
- Deloitte Consulting - India
- SN Aboitiz Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- Indian Oil Corporation Limited
- Interocean Group of Companies - India
- GMR Energy Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Meralco Power Generation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Trasteel International SA, Italy
- Vedanta Resources Plc - India
- Indika Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Posco Energy - South Korea
- Parry Sugars Refinery, India
- Gujarat Mineral Development Corp Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Kartika Selabumi Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Australian Coal Association
- LBH Netherlands Bv - Netherlands
- Xindia Steels Limited - India
- Vizag Seaport Private Limited - India
- Standard Chartered Bank - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- ASAPP Information Group - India
- Bukit Makmur.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- Indogreen Group - Indonesia
- South Luzon Thermal Energy Corporation
- Eastern Energy - Thailand
- Electricity Authority, New Zealand
- Energy Development Corp, Philippines
- Samtan Co., Ltd - South Korea
- PowerSource Philippines DevCo
- Uttam Galva Steels Limited - India
- Simpson Spence & Young - Indonesia
- Wilmar Investment Holdings
- Mercuria Energy - Indonesia
- Minerals Council of Australia
- Videocon Industries ltd - India
- Dalmia Cement Bharat India
- Bukit Asam (Persero) Tbk - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thai Mozambique Logistica
- Carbofer General Trading SA - India
- Ceylon Electricity Board - Sri Lanka
- Indian Energy Exchange, India
- Pendopo Energi Batubara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Metalloyd Limited - United Kingdom
- The University of Queensland
- London Commodity Brokers - England
- IEA Clean Coal Centre - UK
- Larsen & Toubro Limited - India
- Sindya Power Generating Company Private Ltd
- Siam City Cement - Thailand
- Orica Australia Pty. Ltd.
- Toyota Tsusho Corporation, Japan
- Mercator Lines Limited - India
- SMG Consultants - Indonesia
- McConnell Dowell - Australia
- Globalindo Alam Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Georgia Ports Authority, United States
- Pipit Mutiara Jaya. PT, Indonesia
- Karaikal Port Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Timah Investasi Mineral - Indoneisa
- Baramulti Group, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
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