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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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Sunday, 15 June 14
COAL FREIGHT RATES FALL FURTHER ON LACK OF DEMANDS - CAPT. REDDY
COALspot.com: The BDI softened this week as all segments fell this week. The Panamax sector being most affected. The Cape index was down 3.51 pct w ...
Friday, 13 June 14
US COAL PRODUCTION FELL 3% IN WEEK THAT ENDED JUNE 7, SAYS EIA
COALspot.com – United States the world's second largest coal producer, produced approximately 18.6 million short tons (mmst) of coal in a ...
Friday, 13 June 14
DRY BULK MARKET KEEPS ON FALLING, DESPITE RESPITE OF THE CAPESIZE SECTOR - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has kept on its lacklustre performance overall, with the Baltic Dry Index (BDI) still hovering below the 1,000 point mark. Yest ...
Thursday, 12 June 14
INDONESIA SETS HBA FOR MONTH OF JUNE AT US$ 73.64
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia has revised up first time in last four months the coal bench mark price. ...
Thursday, 12 June 14
HANDY : TA MARKET IS CONTINUING SOUTH WITH A DECREASE OF 26% W-O-W
Handy
The week started off with holidays in most European countries and the TA market is continuing south with a decrease of 26% w-o-w. We do see ...
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- Rio Tinto Coal - Australia
- Global Coal Blending Company Limited - Australia
- New Zealand Coal & Carbon
- Kepco SPC Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- GMR Energy Limited - India
- Thiess Contractors Indonesia
- Latin American Coal - Colombia
- Indika Energy - Indonesia
- Oldendorff Carriers - Singapore
- Economic Council, Georgia
- Petron Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Jindal Steel & Power Ltd - India
- Straits Asia Resources Limited - Singapore
- Meralco Power Generation, Philippines
- Global Green Power PLC Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Samtan Co., Ltd - South Korea
- Bukit Baiduri Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Coal and Oil Company - UAE
- Malabar Cements Ltd - India
- Mercator Lines Limited - India
- Star Paper Mills Limited - India
- Eastern Energy - Thailand
- ASAPP Information Group - India
- Attock Cement Pakistan Limited
- Neyveli Lignite Corporation Ltd, - India
- SMG Consultants - Indonesia
- India Bulls Power Limited - India
- Orica Mining Services - Indonesia
- Indonesian Coal Mining Association
- Maharashtra Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Renaissance Capital - South Africa
- Billiton Holdings Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- Standard Chartered Bank - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Central Java Power - Indonesia
- Carbofer General Trading SA - India
- PowerSource Philippines DevCo
- Antam Resourcindo - Indonesia
- Ind-Barath Power Infra Limited - India
- Minerals Council of Australia
- Merrill Lynch Commodities Europe
- Posco Energy - South Korea
- Wood Mackenzie - Singapore
- Alfred C Toepfer International GmbH - Germany
- Coalindo Energy - Indonesia
- Interocean Group of Companies - India
- International Coal Ventures Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Sical Logistics Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Ministry of Finance - Indonesia
- Romanian Commodities Exchange
- Xindia Steels Limited - India
- Sakthi Sugars Limited - India
- London Commodity Brokers - England
- LBH Netherlands Bv - Netherlands
- Kobexindo Tractors - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Tata Chemicals Ltd - India
- Anglo American - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- MS Steel International - UAE
- Mercuria Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- Power Finance Corporation Ltd., India
- Indogreen Group - Indonesia
- TeaM Sual Corporation - Philippines
- Goldman Sachs - Singapore
- Cigading International Bulk Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Lanco Infratech Ltd - India
- Kumho Petrochemical, South Korea
- Directorate Of Revenue Intelligence - India
- Aboitiz Power Corporation - Philippines
- Electricity Authority, New Zealand
- Agrawal Coal Company - India
- VISA Power Limited - India
- Bukit Makmur.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Heidelberg Cement - Germany
- Kapuas Tunggal Persada - Indonesia
- The State Trading Corporation of India Ltd
- The Treasury - Australian Government
- Medco Energi Mining Internasional
- Barasentosa Lestari - Indonesia
- Videocon Industries ltd - India
- Energy Development Corp, Philippines
- Jaiprakash Power Ventures ltd
- Marubeni Corporation - India
- PNOC Exploration Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Chettinad Cement Corporation Ltd - India
- Larsen & Toubro Limited - India
- Port Waratah Coal Services - Australia
- Edison Trading Spa - Italy
- Directorate General of MIneral and Coal - Indonesia
- Uttam Galva Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- European Bulk Services B.V. - Netherlands
- Baramulti Group, Indonesia
- Mjunction Services Limited - India
- GVK Power & Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Petrochimia International Co. Ltd.- Taiwan
- AsiaOL BioFuels Corp., Philippines
- Thai Mozambique Logistica
- SMC Global Power, Philippines
- Borneo Indobara - Indonesia
- Cement Manufacturers Association - India
- Bangladesh Power Developement Board
- San Jose City I Power Corp, Philippines
- Parliament of New Zealand
- IEA Clean Coal Centre - UK
- White Energy Company Limited
- Tamil Nadu electricity Board
- Electricity Generating Authority of Thailand
- Asmin Koalindo Tuhup - Indonesia
- Vedanta Resources Plc - India
- Siam City Cement - Thailand
- Makarim & Taira - Indonesia
- Simpson Spence & Young - Indonesia
- Orica Australia Pty. Ltd.
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bhushan Steel Limited - India
- Planning Commission, India
- McConnell Dowell - Australia
- Sindya Power Generating Company Private Ltd
- Energy Link Ltd, New Zealand
- Ambuja Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Georgia Ports Authority, United States
- South Luzon Thermal Energy Corporation
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SN Aboitiz Power Inc, Philippines
- Madhucon Powers Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The University of Queensland
- Toyota Tsusho Corporation, Japan
- PetroVietnam Power Coal Import and Supply Company
- Dalmia Cement Bharat India
- Riau Bara Harum - Indonesia
- Bharathi Cement Corporation - India
- Bulk Trading Sa - Switzerland
- Singapore Mercantile Exchange
- Vizag Seaport Private Limited - India
- Eastern Coal Council - USA
- Indian Oil Corporation Limited
- Manunggal Multi Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- CNBM International Corporation - China
- Sree Jayajothi Cements Limited - India
- PTC India Limited - India
- Semirara Mining and Power Corporation, Philippines
- Bhatia International Limited - India
- Africa Commodities Group - South Africa
- Trasteel International SA, Italy
- Bhoruka Overseas - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coastal Gujarat Power Limited - India
- Intertek Mineral Services - Indonesia
- Global Business Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Savvy Resources Ltd - HongKong
- Australian Coal Association
- Ceylon Electricity Board - Sri Lanka
- Grasim Industreis Ltd - India
- Salva Resources Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- ICICI Bank Limited - India
- Aditya Birla Group - India
- Central Electricity Authority - India
- Formosa Plastics Group - Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Transport, Egypt
- Mintek Dendrill Indonesia
- Independent Power Producers Association of India
- Iligan Light & Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Siam City Cement PLC, Thailand
- Commonwealth Bank - Australia
- Wilmar Investment Holdings
- Gujarat Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Australian Commodity Traders Exchange
- Semirara Mining Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Ministry of Mines - Canada
- Chamber of Mines of South Africa
- Essar Steel Hazira Ltd - India
- Meenaskhi Energy Private Limited - India
- Parry Sugars Refinery, India
- Globalindo Alam Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Timah Investasi Mineral - Indoneisa
- Deloitte Consulting - India
- Altura Mining Limited, Indonesia
- Gujarat Sidhee Cement - India
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