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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, 02 July 14
HANDY BULKERS PROVE TO BE THE MOST SOUGHT AFTER VESSELS OVER THE PAST WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The Handy dry bulker proved to be the most sought after ship by ship owners active in the second hand market, which saw a slight decline in terms o ...
Wednesday, 02 July 14
SHIPPING: MARKET INSIGHT - GEORGE DERMATIS
After 6 months, 57 ministerial meetings and 67 political agreements, the journey of the Greek Presidency in the EU reached its end yesterday; only ...
Tuesday, 01 July 14
INDIAN POWER PLANT COAL STOCKPILES VERY LOW
COALspot.com: According to today's Weekly Dry Bulk Report published by Commodore Research, Indian power plant coal stockpiles have now fallen t ...
Monday, 30 June 14
SUB-BIT FOB INDONESIA COAL PRICES ARE STILL STRUGGLING TO RECOVER
COALspot.com: Indonesian coal swaps for average Q3’ 2014 lost on week and on month according to AsiaClear OTC coal swap's reports release ...
Monday, 30 June 14
WEEKLY CFR SOUTH CHINA COAL SWAPS DECLINE CONTINUES; Q1'15 LOST US$ 4.55 PMT IN A WEEK
COALspot.com: API 8 CFR South China Coal swap for delivery in Q3 fell US$ 5.25 month on month on Friday, dipping under $69 a tone. The CFR South Ch ...
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- Holcim Trading Pte Ltd - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Bhatia International Limited - India
- Africa Commodities Group - South Africa
- Karaikal Port Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Cement Manufacturers Association - India
- Ceylon Electricity Board - Sri Lanka
- Merrill Lynch Commodities Europe
- Anglo American - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Green Power PLC Corporation, Philippines
- Riau Bara Harum - Indonesia
- Australian Commodity Traders Exchange
- Agrawal Coal Company - India
- LBH Netherlands Bv - Netherlands
- PTC India Limited - India
- Indo Tambangraya Megah - Indonesia
- Singapore Mercantile Exchange
- Bhushan Steel Limited - India
- New Zealand Coal & Carbon
- SMG Consultants - Indonesia
- San Jose City I Power Corp, Philippines
- Wilmar Investment Holdings
- Makarim & Taira - Indonesia
- Meralco Power Generation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Antam Resourcindo - Indonesia
- GAC Shipping (India) Pvt Ltd
- Chamber of Mines of South Africa
- Ministry of Mines - Canada
- Coal and Oil Company - UAE
- Mintek Dendrill Indonesia
- Parry Sugars Refinery, India
- Gujarat Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Billiton Holdings Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- Orica Australia Pty. Ltd.
- McConnell Dowell - Australia
- Kohat Cement Company Ltd. - Pakistan
- Karbindo Abesyapradhi - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Parliament of New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Java Power - Indonesia
- Economic Council, Georgia
- Attock Cement Pakistan Limited
- Intertek Mineral Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Kepco SPC Power Corporation, Philippines
- Star Paper Mills Limited - India
- Samtan Co., Ltd - South Korea
- Sojitz Corporation - Japan
- Indonesian Coal Mining Association
- Aboitiz Power Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Salva Resources Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- OPG Power Generation Pvt Ltd - India
- The Treasury - Australian Government
- VISA Power Limited - India
- Jindal Steel & Power Ltd - India
- Power Finance Corporation Ltd., India
- Sical Logistics Limited - India
- The State Trading Corporation of India Ltd
- Mercuria Energy - Indonesia
- Kumho Petrochemical, South Korea
- Kideco Jaya Agung - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Mjunction Services Limited - India
- India Bulls Power Limited - India
- Ambuja Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- PowerSource Philippines DevCo
- Aditya Birla Group - India
- Bangladesh Power Developement Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Independent Power Producers Association of India
- Energy Development Corp, Philippines
- Central Electricity Authority - India
- Gujarat Sidhee Cement - India
- Ministry of Transport, Egypt
- Semirara Mining and Power Corporation, Philippines
- Carbofer General Trading SA - India
- SMC Global Power, Philippines
- Planning Commission, India
- Neyveli Lignite Corporation Ltd, - India
- Bayan Resources Tbk. - Indonesia
- Kaltim Prima Coal - Indonesia
- Minerals Council of Australia
- Baramulti Group, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Xindia Steels Limited - India
- Eastern Coal Council - USA
- Banpu Public Company Limited - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Videocon Industries ltd - India
- AsiaOL BioFuels Corp., Philippines
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- Ind-Barath Power Infra Limited - India
- Edison Trading Spa - Italy
- Marubeni Corporation - India
- Renaissance Capital - South Africa
- Posco Energy - South Korea
- Ministry of Finance - Indonesia
- Electricity Authority, New Zealand
- Meenaskhi Energy Private Limited - India
- Bharathi Cement Corporation - India
- Siam City Cement - Thailand
- Altura Mining Limited, Indonesia
- London Commodity Brokers - England
- Medco Energi Mining Internasional
- TeaM Sual Corporation - Philippines
- Indika Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Alfred C Toepfer International GmbH - Germany
- Leighton Contractors Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Price Waterhouse Coopers - Russia
- Chettinad Cement Corporation Ltd - India
- Latin American Coal - Colombia
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Indogreen Group - Indonesia
- Dalmia Cement Bharat India
- Petron Corporation, Philippines
- Heidelberg Cement - Germany
- Krishnapatnam Port Company Ltd. - India
- Larsen & Toubro Limited - India
- Bhoruka Overseas - Indonesia
- Trasteel International SA, Italy
- The University of Queensland
- Kapuas Tunggal Persada - Indonesia
- Georgia Ports Authority, United States
- GN Power Mariveles Coal Plant, Philippines
- GVK Power & Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Iligan Light & Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- Tata Chemicals Ltd - India
- Madhucon Powers Ltd - India
- Lanco Infratech Ltd - India
- Oldendorff Carriers - Singapore
- Sakthi Sugars Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bulk Trading Sa - Switzerland
- ICICI Bank Limited - India
- Wood Mackenzie - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Commonwealth Bank - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Borneo Indobara - Indonesia
- Malabar Cements Ltd - India
- Thiess Contractors Indonesia
- Indian Energy Exchange, India
- Bahari Cakrawala Sebuku - Indonesia
- Indian Oil Corporation Limited
- GMR Energy Limited - India
- Orica Mining Services - Indonesia
- Straits Asia Resources Limited - Singapore
- Coalindo Energy - Indonesia
- Mercator Lines Limited - India
- Globalindo Alam Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- Bukit Makmur.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Standard Chartered Bank - UAE
- Savvy Resources Ltd - HongKong
- Energy Link Ltd, New Zealand
- Tamil Nadu electricity Board
- Uttam Galva Steels Limited - India
- Sarangani Energy Corporation, Philippines
- Semirara Mining Corp, Philippines
- Interocean Group of Companies - India
- ASAPP Information Group - India
- IEA Clean Coal Centre - UK
- Goldman Sachs - Singapore
- Deloitte Consulting - India
- Binh Thuan Hamico - Vietnam
- CNBM International Corporation - China
- Global Business Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Essar Steel Hazira Ltd - India
- Romanian Commodities Exchange
- Thai Mozambique Logistica
- Directorate Of Revenue Intelligence - India
- Manunggal Multi Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Australian Coal Association
- White Energy Company Limited
- Grasim Industreis Ltd - India
- SN Aboitiz Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Port Waratah Coal Services - Australia
- Kartika Selabumi Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Barasentosa Lestari - Indonesia
- Eastern Energy - Thailand
- CIMB Investment Bank - Malaysia
- International Coal Ventures Pvt Ltd - India
- Rio Tinto Coal - Australia
- Vizag Seaport Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maheswari Brothers Coal Limited - India
- Vedanta Resources Plc - India
- Coastal Gujarat Power Limited - India
- IHS Mccloskey Coal Group - USA
- TNB Fuel Sdn Bhd - Malaysia
- Kobexindo Tractors - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sinarmas Energy and Mining - Indonesia
- MS Steel International - UAE
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