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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, 25 June 14
INDONESIAN COAL EXPORTS ON RISE; EARNINGS FALL ON LOWER SELLING PRICES
COALspot.com: Indonesia, one of the world's largest coal producer and the global largest multi grade coal exporter shipped around $1.84* ...
Wednesday, 25 June 14
THE PANAMAX MARKET REACHED FRESH LOWS FOR THE YEAR, SAYS INTERMODAL
COALspot.com: The Dry Bulk market closed off the week noting a slight decrease, but this image of stability is merely representative of freight rat ...
Wednesday, 25 June 14
SHIPPING: MARKET INSIGHT - YANNIS OLZIERSKY
During his recent visit in London, China's Premier, Li Keqiang, announced that China's economy, the world's second largest after the US ...
Tuesday, 24 June 14
INDONESIAN COAL MINER TARGETS RP 313 BILLION IPO
COALspot.com: Indonesian coal miner PT Mitrabara Adiperdana is aiming to raise up to Rp 313 billion to Rp 368 billion (approximately $26.133 millio ...
Monday, 23 June 14
INDONESIAN COAL SWAP FOR Q3 DELIVERY LOST 8.60% Y-O-Y;4.80% M-O-M
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 ...
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- Directorate General of MIneral and Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Metalloyd Limited - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Grasim Industreis Ltd - India
- Kepco SPC Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercuria Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Oldendorff Carriers - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indo Tambangraya Megah - Indonesia
- Bharathi Cement Corporation - India
- Barasentosa Lestari - Indonesia
- Africa Commodities Group - South Africa
- Intertek Mineral Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Aditya Birla Group - India
- Gujarat Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Parry Sugars Refinery, India
- AsiaOL BioFuels Corp., Philippines
- SMC Global Power, Philippines
- Banpu Public Company Limited - Thailand
- LBH Netherlands Bv - Netherlands
- Agrawal Coal Company - India
- Kalimantan Lumbung Energi - Indonesia
- Therma Luzon, Inc, Philippines
- TeaM Sual Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Larsen & Toubro Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Romanian Commodities Exchange
- ICICI Bank Limited - India
- Baramulti Group, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Energy Development Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Bhoruka Overseas - Indonesia
- Indian Oil Corporation Limited
- Leighton Contractors Pty Ltd - Australia
- Dalmia Cement Bharat India
- Lanco Infratech Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Tata Chemicals Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Tamil Nadu electricity Board
- Antam Resourcindo - Indonesia
- Interocean Group of Companies - India
- Petron Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- The Treasury - Australian Government
- Coastal Gujarat Power Limited - India
- Electricity Generating Authority of Thailand
- Bhushan Steel Limited - India
- Ministry of Transport, Egypt
- Semirara Mining Corp, Philippines
- Eastern Coal Council - USA
- Altura Mining Limited, Indonesia
- Eastern Energy - Thailand
- Renaissance Capital - South Africa
- Makarim & Taira - Indonesia
- Indika Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Mercator Lines Limited - India
- Semirara Mining and Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Merrill Lynch Commodities Europe
- Australian Coal Association
- Minerals Council of Australia
- Rio Tinto Coal - Australia
- Salva Resources Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Sojitz Corporation - Japan
- Bukit Baiduri Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- OPG Power Generation Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Deloitte Consulting - India
- Power Finance Corporation Ltd., India
- Siam City Cement - Thailand
- CNBM International Corporation - China
- TNB Fuel Sdn Bhd - Malaysia
- Singapore Mercantile Exchange
- Krishnapatnam Port Company Ltd. - India
- Indogreen Group - Indonesia
- Miang Besar Coal Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- McConnell Dowell - Australia
- Ambuja Cements Ltd - India
- Goldman Sachs - Singapore
- Ministry of Finance - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Electricity Authority - India
- International Coal Ventures Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Indonesian Coal Mining Association
- Meenaskhi Energy Private Limited - India
- ASAPP Information Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Coal and Oil Company - UAE
- GAC Shipping (India) Pvt Ltd
- Heidelberg Cement - Germany
- Sarangani Energy Corporation, Philippines
- Bangladesh Power Developement Board
- Siam City Cement PLC, Thailand
- VISA Power Limited - India
- Mintek Dendrill Indonesia
- Price Waterhouse Coopers - Russia
- Global Green Power PLC Corporation, Philippines
- London Commodity Brokers - England
- Trasteel International SA, Italy
- Economic Council, Georgia
- Meralco Power Generation, Philippines
- PTC India Limited - India
- Latin American Coal - Colombia
- Globalindo Alam Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Kumho Petrochemical, South Korea
- Holcim Trading Pte Ltd - Singapore
- Indian Energy Exchange, India
- Sakthi Sugars Limited - India
- White Energy Company Limited
- Anglo American - United Kingdom
- Standard Chartered Bank - UAE
- Orica Australia Pty. Ltd.
- Cement Manufacturers Association - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Edison Trading Spa - Italy
- IHS Mccloskey Coal Group - USA
- MS Steel International - UAE
- Videocon Industries ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Malabar Cements Ltd - India
- Planning Commission, India
- The State Trading Corporation of India Ltd
- GN Power Mariveles Coal Plant, Philippines
- Vizag Seaport Private Limited - India
- CIMB Investment Bank - Malaysia
- Carbofer General Trading SA - India
- Chettinad Cement Corporation Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- The University of Queensland
- Manunggal Multi Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- SMG Consultants - Indonesia
- Sinarmas Energy and Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Simpson Spence & Young - Indonesia
- Jaiprakash Power Ventures ltd
- Electricity Authority, New Zealand
- Georgia Ports Authority, United States
- Rashtriya Ispat Nigam Limited - India
- Mjunction Services Limited - India
- Wilmar Investment Holdings
- Ministry of Mines - Canada
- Straits Asia Resources Limited - Singapore
- Attock Cement Pakistan Limited
- Formosa Plastics Group - Taiwan
- Parliament of New Zealand
- New Zealand Coal & Carbon
- Global Business Power Corporation, Philippines
- Central Java Power - Indonesia
- Bukit Makmur.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Commonwealth Bank - Australia
- Kartika Selabumi Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Thiess Contractors Indonesia
- Energy Link Ltd, New Zealand
- Riau Bara Harum - Indonesia
- Medco Energi Mining Internasional
- Billiton Holdings Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Bukit Asam (Persero) Tbk - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- Coalindo Energy - Indonesia
- Bhatia International Limited - India
- Madhucon Powers Ltd - India
- Orica Mining Services - Indonesia
- Uttam Galva Steels Limited - India
- Essar Steel Hazira Ltd - India
- Borneo Indobara - Indonesia
- Australian Commodity Traders Exchange
- Star Paper Mills Limited - India
- Iligan Light & Power Inc, Philippines
- PowerSource Philippines DevCo
- Maheswari Brothers Coal Limited - India
- IEA Clean Coal Centre - UK
- Wood Mackenzie - Singapore
- GVK Power & Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jindal Steel & Power Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Kapuas Tunggal Persada - Indonesia
- GMR Energy Limited - India
- South Luzon Thermal Energy Corporation
- Xindia Steels Limited - India
- Gujarat Sidhee Cement - India
- Samtan Co., Ltd - South Korea
- Chamber of Mines of South Africa
- Marubeni Corporation - India
- Sical Logistics Limited - India
- India Bulls Power Limited - India
- Posco Energy - South Korea
- Independent Power Producers Association of India
- Thai Mozambique Logistica
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