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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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Thursday, 12 June 14
CONSOLIDATION IS THE ' NAME OF THE GAME' WHEN IT COMES TO SHIPYARDS ACROSS ASIA - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Intense competition, a swelling of new greenfield shipyards over the past few years mainly in China, especially prior to the 2008 global financial ...
Wednesday, 11 June 14
INDONESIA'S COAL EXPORT VOLUME AND REVENUE SLIPS 2.75% AND 6.73% RESPECTIVELY IN APRIL
COALspot.com: Indonesia, one of the world's largest coal producer and the global largest multi grade coal exporter shipped around $1.8* b ...
Wednesday, 11 June 14
BPI TOUCHING A NEW LOW FOR THE YEAR
The Dry Bulk market closed off the week positively, on the back of firming Capesize rates, while the market overall continues to face a very challe ...
Monday, 09 June 14
GOVT GETS TOUGH ON ILLEGAL MINING, SUSPENDS LICENSES - THE JAKARTA POST
The government has temporarily suspended the licenses of 62 mineral and coal transportation companies as part of its efforts to curb illegal mining ...
Monday, 09 June 14
INDO SUB-BIT COAL SWAPS FOR Q3,Q4 OF 2014 AND Q1 2015: LOST ON DAY AND MONTH
COALspot.com: Indonesian coal swaps for average Q3’ 2014 continue last week’s trend or lost on day, week and on month according to Asia ...
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- Rio Tinto Coal - Australia
- Cigading International Bulk Terminal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Lanco Infratech Ltd - India
- Kobexindo Tractors - Indoneisa
- Parliament of New Zealand
- Gujarat Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- Simpson Spence & Young - Indonesia
- Indogreen Group - Indonesia
- Trasteel International SA, Italy
- Marubeni Corporation - India
- Heidelberg Cement - Germany
- Coalindo Energy - Indonesia
- Kumho Petrochemical, South Korea
- Altura Mining Limited, Indonesia
- Tata Chemicals Ltd - India
- Mjunction Services Limited - India
- Kaltim Prima Coal - Indonesia
- Energy Development Corp, Philippines
- VISA Power Limited - India
- Eastern Energy - Thailand
- Semirara Mining and Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Iligan Light & Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Indian Energy Exchange, India
- The Treasury - Australian Government
- Directorate Of Revenue Intelligence - India
- Ambuja Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- Directorate General of MIneral and Coal - Indonesia
- Global Business Power Corporation, Philippines
- Bhatia International Limited - India
- Orica Mining Services - Indonesia
- Indika Energy - Indonesia
- McConnell Dowell - Australia
- IEA Clean Coal Centre - UK
- Dalmia Cement Bharat India
- London Commodity Brokers - England
- Commonwealth Bank - Australia
- Georgia Ports Authority, United States
- Interocean Group of Companies - India
- Eastern Coal Council - USA
- Riau Bara Harum - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Banpu Public Company Limited - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Krishnapatnam Port Company Ltd. - India
- Vizag Seaport Private Limited - India
- Vedanta Resources Plc - India
- Toyota Tsusho Corporation, Japan
- Standard Chartered Bank - UAE
- Mercator Lines Limited - India
- Mintek Dendrill Indonesia
- Straits Asia Resources Limited - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Baiduri Energy - Indonesia
- Larsen & Toubro Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kepco SPC Power Corporation, Philippines
- Ministry of Mines - Canada
- Rashtriya Ispat Nigam Limited - India
- Global Green Power PLC Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Kapuas Tunggal Persada - Indonesia
- The University of Queensland
- Jindal Steel & Power Ltd - India
- Australian Commodity Traders Exchange
- Meenaskhi Energy Private Limited - India
- GVK Power & Infra Limited - India
- Siam City Cement PLC, Thailand
- Romanian Commodities Exchange
- Coastal Gujarat Power Limited - India
- Energy Link Ltd, New Zealand
- Cement Manufacturers Association - India
- Electricity Generating Authority of Thailand
- SMC Global Power, Philippines
- India Bulls Power Limited - India
- Baramulti Group, Indonesia
- Medco Energi Mining Internasional
- Power Finance Corporation Ltd., India
- CNBM International Corporation - China
- Star Paper Mills Limited - India
- Intertek Mineral Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- ASAPP Information Group - India
- Sarangani Energy Corporation, Philippines
- Aditya Birla Group - India
- CIMB Investment Bank - Malaysia
- Jaiprakash Power Ventures ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Attock Cement Pakistan Limited
- Maheswari Brothers Coal Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Finance - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Indian Oil Corporation Limited
- New Zealand Coal & Carbon
- Semirara Mining Corp, Philippines
- Independent Power Producers Association of India
- Orica Australia Pty. Ltd.
- Parry Sugars Refinery, India
- The State Trading Corporation of India Ltd
- Latin American Coal - Colombia
- Bukit Asam (Persero) Tbk - Indonesia
- Wood Mackenzie - Singapore
- Essar Steel Hazira Ltd - India
- Australian Coal Association
- Bulk Trading Sa - Switzerland
- Thai Mozambique Logistica
- Posco Energy - South Korea
- Port Waratah Coal Services - Australia
- PowerSource Philippines DevCo
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Electricity Authority, New Zealand
- South Luzon Thermal Energy Corporation
- Siam City Cement - Thailand
- Gujarat Sidhee Cement - India
- GN Power Mariveles Coal Plant, Philippines
- AsiaOL BioFuels Corp., Philippines
- Antam Resourcindo - Indonesia
- Savvy Resources Ltd - HongKong
- Vijayanagar Sugar Pvt Ltd - India
- Meralco Power Generation, Philippines
- Africa Commodities Group - South Africa
- Kideco Jaya Agung - Indonesia
- Bayan Resources Tbk. - Indonesia
- Borneo Indobara - Indonesia
- Economic Council, Georgia
- Salva Resources Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Wilmar Investment Holdings
- Madhucon Powers Ltd - India
- Manunggal Multi Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Transport, Egypt
- Central Electricity Authority - India
- European Bulk Services B.V. - Netherlands
- Metalloyd Limited - United Kingdom
- Binh Thuan Hamico - Vietnam
- Uttam Galva Steels Limited - India
- San Jose City I Power Corp, Philippines
- Videocon Industries ltd - India
- GMR Energy Limited - India
- Sinarmas Energy and Mining - Indonesia
- Sical Logistics Limited - India
- Leighton Contractors Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Neyveli Lignite Corporation Ltd, - India
- Malabar Cements Ltd - India
- Bhushan Steel Limited - India
- Agrawal Coal Company - India
- Sindya Power Generating Company Private Ltd
- International Coal Ventures Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Petron Corporation, Philippines
- Xindia Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- PNOC Exploration Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- TeaM Sual Corporation - Philippines
- Central Java Power - Indonesia
- Therma Luzon, Inc, Philippines
- Sojitz Corporation - Japan
- Carbofer General Trading SA - India
- Indonesian Coal Mining Association
- Timah Investasi Mineral - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Thiess Contractors Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- LBH Netherlands Bv - Netherlands
- PTC India Limited - India
- Anglo American - United Kingdom
- Edison Trading Spa - Italy
- Grasim Industreis Ltd - India
- Sree Jayajothi Cements Limited - India
- GAC Shipping (India) Pvt Ltd
- Renaissance Capital - South Africa
- Chettinad Cement Corporation Ltd - India
- Mercuria Energy - Indonesia
- Sakthi Sugars Limited - India
- Bangladesh Power Developement Board
- White Energy Company Limited
- Ind-Barath Power Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Oldendorff Carriers - Singapore
- Karaikal Port Pvt Ltd - India
- Planning Commission, India
- MS Steel International - UAE
- Merrill Lynch Commodities Europe
- Bharathi Cement Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Deloitte Consulting - India
- Coal and Oil Company - UAE
- SN Aboitiz Power Inc, Philippines
- Chamber of Mines of South Africa
- Alfred C Toepfer International GmbH - Germany
- Pendopo Energi Batubara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kartika Selabumi Mining - Indonesia
- Minerals Council of Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maharashtra Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- SMG Consultants - Indonesia
- Goldman Sachs - Singapore
- Tamil Nadu electricity Board
- Makarim & Taira - Indonesia
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