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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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Monday, 30 June 14
INDO - INDIA FREIGHT RATES CONTINUE TO WEAK
COALspot.com: The latest dry Index shows that average all-in spot freight declined, the Panamax and Supramax slipping by 9.11 percent and 4% respec ...
Friday, 27 June 14
DRY BULK MARKET STILL LOOKING FOR UPSIDE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has kept up its lacklustre performance during the past week, as evidenced by the course of the Baltic Dry Index (BDI). The BDI ...
Thursday, 26 June 14
PANAMAX : A PACIFIC ROUND PAYS AROUND US$ 3K DAILY - FEARNLEYS AS
Handy
In the Atlantic there has been little activity which again has caused rates to slip across all trades. TA´s are now down to US$ 5,500 ...
Thursday, 26 June 14
KOMIPO INVITES BIDS FOR TOTAL 750K MT OF BITUMINOUS COAL FOR 3CY
COALspot.com: South Korean state-owned utility Korea Midland Power (KOMIPO) has issued a new tender for supply of total 250,000 MT of bituminous co ...
Thursday, 26 June 14
COAL DIVESTMENT CAMPAIGNS COME WITH RISKY UNINTENDED CONSEQUENCES - WCA
Last week I presented to the Expert Group on investments in coal and petroleum companies, the body set up to advise the Norwegian Government on whe ...
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- PetroVietnam Power Coal Import and Supply Company
- Australian Commodity Traders Exchange
- Globalindo Alam Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- Medco Energi Mining Internasional
- Attock Cement Pakistan Limited
- Goldman Sachs - Singapore
- Gujarat Sidhee Cement - India
- Carbofer General Trading SA - India
- New Zealand Coal & Carbon
- Savvy Resources Ltd - HongKong
- Rio Tinto Coal - Australia
- Manunggal Multi Energi - Indonesia
- Tamil Nadu electricity Board
- South Luzon Thermal Energy Corporation
- Larsen & Toubro Limited - India
- Eastern Coal Council - USA
- Karaikal Port Pvt Ltd - India
- GMR Energy Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- GN Power Mariveles Coal Plant, Philippines
- Tata Chemicals Ltd - India
- Orica Mining Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Bulk Trading Sa - Switzerland
- India Bulls Power Limited - India
- Riau Bara Harum - Indonesia
- Simpson Spence & Young - Indonesia
- Kepco SPC Power Corporation, Philippines
- CNBM International Corporation - China
- Wilmar Investment Holdings
- SMG Consultants - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Energy Development Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Oldendorff Carriers - Singapore
- Romanian Commodities Exchange
- Dalmia Cement Bharat India
- The State Trading Corporation of India Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sical Logistics Limited - India
- Mercuria Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Ceylon Electricity Board - Sri Lanka
- Meralco Power Generation, Philippines
- Bukit Makmur.PT - Indonesia
- McConnell Dowell - Australia
- Directorate Of Revenue Intelligence - India
- Renaissance Capital - South Africa
- Ind-Barath Power Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Electricity Generating Authority of Thailand
- Baramulti Group, Indonesia
- ASAPP Information Group - India
- Billiton Holdings Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Indian Oil Corporation Limited
- LBH Netherlands Bv - Netherlands
- Indika Energy - Indonesia
- Siam City Cement PLC, Thailand
- Indonesian Coal Mining Association
- Sinarmas Energy and Mining - Indonesia
- Parliament of New Zealand
- Siam City Cement - Thailand
- Orica Australia Pty. Ltd.
- Georgia Ports Authority, United States
- Sindya Power Generating Company Private Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Binh Thuan Hamico - Vietnam
- European Bulk Services B.V. - Netherlands
- Price Waterhouse Coopers - Russia
- IHS Mccloskey Coal Group - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Independent Power Producers Association of India
- Chamber of Mines of South Africa
- IEA Clean Coal Centre - UK
- SMC Global Power, Philippines
- Economic Council, Georgia
- Mjunction Services Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- VISA Power Limited - India
- Port Waratah Coal Services - Australia
- Bayan Resources Tbk. - Indonesia
- Barasentosa Lestari - Indonesia
- Madhucon Powers Ltd - India
- Toyota Tsusho Corporation, Japan
- Timah Investasi Mineral - Indoneisa
- Kobexindo Tractors - Indoneisa
- Energy Link Ltd, New Zealand
- Interocean Group of Companies - India
- Sojitz Corporation - Japan
- Bhatia International Limited - India
- Holcim Trading Pte Ltd - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Alfred C Toepfer International GmbH - Germany
- PowerSource Philippines DevCo
- Mintek Dendrill Indonesia
- TeaM Sual Corporation - Philippines
- Videocon Industries ltd - India
- Therma Luzon, Inc, Philippines
- Trasteel International SA, Italy
- Kalimantan Lumbung Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vizag Seaport Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- ICICI Bank Limited - India
- Deloitte Consulting - India
- Indo Tambangraya Megah - Indonesia
- The University of Queensland
- PNOC Exploration Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining Corp, Philippines
- Australian Coal Association
- Standard Chartered Bank - UAE
- Merrill Lynch Commodities Europe
- Metalloyd Limited - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Eastern Energy - Thailand
- Star Paper Mills Limited - India
- Salva Resources Pvt Ltd - India
- Commonwealth Bank - Australia
- Xindia Steels Limited - India
- Thiess Contractors Indonesia
- Neyveli Lignite Corporation Ltd, - India
- GVK Power & Infra Limited - India
- Heidelberg Cement - Germany
- San Jose City I Power Corp, Philippines
- PTC India Limited - India
- Pendopo Energi Batubara - Indonesia
- The Treasury - Australian Government
- Uttam Galva Steels Limited - India
- Planning Commission, India
- Agrawal Coal Company - India
- MS Steel International - UAE
- White Energy Company Limited
- Sakthi Sugars Limited - India
- Meenaskhi Energy Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Vedanta Resources Plc - India
- Parry Sugars Refinery, India
- Wood Mackenzie - Singapore
- Kumho Petrochemical, South Korea
- Lanco Infratech Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Thai Mozambique Logistica
- GAC Shipping (India) Pvt Ltd
- Edison Trading Spa - Italy
- Electricity Authority, New Zealand
- Latin American Coal - Colombia
- Aditya Birla Group - India
- Singapore Mercantile Exchange
- Semirara Mining and Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Central Java Power - Indonesia
- Maheswari Brothers Coal Limited - India
- Anglo American - United Kingdom
- Iligan Light & Power Inc, Philippines
- Power Finance Corporation Ltd., India
- Jaiprakash Power Ventures ltd
- Jindal Steel & Power Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- International Coal Ventures Pvt Ltd - India
- Bharathi Cement Corporation - India
- Africa Commodities Group - South Africa
- Kartika Selabumi Mining - Indonesia
- Intertek Mineral Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bangladesh Power Developement Board
- Indogreen Group - Indonesia
- Petron Corporation, Philippines
- London Commodity Brokers - England
- Antam Resourcindo - Indonesia
- Sree Jayajothi Cements Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Grasim Industreis Ltd - India
- Coastal Gujarat Power Limited - India
- Makarim & Taira - Indonesia
- Global Business Power Corporation, Philippines
- Coal and Oil Company - UAE
- Posco Energy - South Korea
- Bhoruka Overseas - Indonesia
- Indian Energy Exchange, India
- Mercator Lines Limited - India
- Chettinad Cement Corporation Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Banpu Public Company Limited - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Malabar Cements Ltd - India
- Ministry of Transport, Egypt
- Krishnapatnam Port Company Ltd. - India
- Gujarat Mineral Development Corp Ltd - India
- Bukit Baiduri Energy - Indonesia
- Ambuja Cements Ltd - India
- Cement Manufacturers Association - India
- Ministry of Mines - Canada
- Rashtriya Ispat Nigam Limited - India
- Minerals Council of Australia
- Borneo Indobara - Indonesia
- Marubeni Corporation - India
- Altura Mining Limited, Indonesia
- Essar Steel Hazira Ltd - India
- Global Coal Blending Company Limited - Australia
- Coalindo Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bhushan Steel Limited - India
- Ministry of Finance - Indonesia
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