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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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Friday, 06 June 14
RICHARDS BAY COAL TERMINAL SHIPPED 4.221 MMT OF COAL TO SOUTHERN ASIAN COUNTRIES IN MAY
COALspot.com: South Africa's Richards Bay Coal Terminal (RBCT) the single largest export coal terminal in the world, shipped 5.58 million tons ...
Thursday, 05 June 14
RBCT SOUTH AFRICA SHIPPED 21% LESS COAL IN APRIL COMPARED TO MARCH EXPORTS
COALspot.com: South Africa's Richards Bay Coal Terminal (RBCT) the single largest export coal terminal in the world, shipped 5.45 million tons ...
Thursday, 05 June 14
PANAMAX : THIS WEEK STARTED IN A SLOW PACE - FEARNLEYS
Handy
After last week's silent and unexciting week we see some more activity this week, especially from the South American market. The rates ...
Thursday, 05 June 14
PORT OF NEWCASTLE SHIPPED 2.91 MMT OF COAL IN THIS PAST WEEK
COALspot.com: The figure constitutes a 4.30 percent higher compared to the previous week, following a week on week decreased of 19.13 percent recor ...
Wednesday, 04 June 14
SKULD: DIVERSIFICATION AND A ROBUST BOTTOM LINE
In February, I was delighted to ring in the new policy year with the Skuld team following a solid renewal round and a strong year. 2013 was, in man ...
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- Sree Jayajothi Cements Limited - India
- Star Paper Mills Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- GAC Shipping (India) Pvt Ltd
- Eastern Energy - Thailand
- Orica Mining Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Power Finance Corporation Ltd., India
- Grasim Industreis Ltd - India
- Kartika Selabumi Mining - Indonesia
- Ministry of Finance - Indonesia
- Kideco Jaya Agung - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Ministry of Mines - Canada
- Banpu Public Company Limited - Thailand
- Australian Commodity Traders Exchange
- Heidelberg Cement - Germany
- Indian Oil Corporation Limited
- Globalindo Alam Lestari - Indonesia
- Sical Logistics Limited - India
- Indonesian Coal Mining Association
- Straits Asia Resources Limited - Singapore
- IEA Clean Coal Centre - UK
- Madhucon Powers Ltd - India
- Marubeni Corporation - India
- AsiaOL BioFuels Corp., Philippines
- VISA Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- Australian Coal Association
- Coalindo Energy - Indonesia
- Mercuria Energy - Indonesia
- The University of Queensland
- Kalimantan Lumbung Energi - Indonesia
- New Zealand Coal & Carbon
- Therma Luzon, Inc, Philippines
- McConnell Dowell - Australia
- Mjunction Services Limited - India
- CIMB Investment Bank - Malaysia
- Bhoruka Overseas - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Tamil Nadu electricity Board
- Pendopo Energi Batubara - Indonesia
- Jaiprakash Power Ventures ltd
- Carbofer General Trading SA - India
- Kobexindo Tractors - Indoneisa
- European Bulk Services B.V. - Netherlands
- Rashtriya Ispat Nigam Limited - India
- Cement Manufacturers Association - India
- Sinarmas Energy and Mining - Indonesia
- SMG Consultants - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Global Green Power PLC Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Anglo American - United Kingdom
- Standard Chartered Bank - UAE
- Global Business Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Ambuja Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Orica Australia Pty. Ltd.
- Bhushan Steel Limited - India
- Ministry of Transport, Egypt
- Makarim & Taira - Indonesia
- Energy Development Corp, Philippines
- Altura Mining Limited, Indonesia
- Petron Corporation, Philippines
- Xindia Steels Limited - India
- Planning Commission, India
- Baramulti Group, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Iligan Light & Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Interocean Group of Companies - India
- Kaltim Prima Coal - Indonesia
- Antam Resourcindo - Indonesia
- Africa Commodities Group - South Africa
- Wilmar Investment Holdings
- Bank of Tokyo Mitsubishi UFJ Ltd
- Medco Energi Mining Internasional
- Directorate General of MIneral and Coal - Indonesia
- White Energy Company Limited
- Malabar Cements Ltd - India
- Merrill Lynch Commodities Europe
- Timah Investasi Mineral - Indoneisa
- Savvy Resources Ltd - HongKong
- Semirara Mining and Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Metalloyd Limited - United Kingdom
- Manunggal Multi Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- PowerSource Philippines DevCo
- Mercator Lines Limited - India
- Indian Energy Exchange, India
- CNBM International Corporation - China
- OPG Power Generation Pvt Ltd - India
- Bangladesh Power Developement Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Authority, New Zealand
- Holcim Trading Pte Ltd - Singapore
- Simpson Spence & Young - Indonesia
- Gujarat Sidhee Cement - India
- Economic Council, Georgia
- Aboitiz Power Corporation - Philippines
- Kumho Petrochemical, South Korea
- Central Electricity Authority - India
- Toyota Tsusho Corporation, Japan
- Bhatia International Limited - India
- Posco Energy - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement PLC, Thailand
- Indo Tambangraya Megah - Indonesia
- Trasteel International SA, Italy
- TNB Fuel Sdn Bhd - Malaysia
- Meralco Power Generation, Philippines
- Leighton Contractors Pty Ltd - Australia
- ASAPP Information Group - India
- Billiton Holdings Pty Ltd - Australia
- Goldman Sachs - Singapore
- Intertek Mineral Services - Indonesia
- Mintek Dendrill Indonesia
- Miang Besar Coal Terminal - Indonesia
- Attock Cement Pakistan Limited
- Renaissance Capital - South Africa
- Energy Link Ltd, New Zealand
- PNOC Exploration Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Videocon Industries ltd - India
- Lanco Infratech Ltd - India
- Siam City Cement - Thailand
- Karbindo Abesyapradhi - Indoneisa
- LBH Netherlands Bv - Netherlands
- Dalmia Cement Bharat India
- Meenaskhi Energy Private Limited - India
- GVK Power & Infra Limited - India
- Aditya Birla Group - India
- Bayan Resources Tbk. - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Independent Power Producers Association of India
- Vedanta Resources Plc - India
- Oldendorff Carriers - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Global Coal Blending Company Limited - Australia
- Sarangani Energy Corporation, Philippines
- Deloitte Consulting - India
- GMR Energy Limited - India
- SN Aboitiz Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Riau Bara Harum - Indonesia
- Central Java Power - Indonesia
- Binh Thuan Hamico - Vietnam
- Wood Mackenzie - Singapore
- Indika Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Eastern Coal Council - USA
- MS Steel International - UAE
- Karaikal Port Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Parliament of New Zealand
- Vizag Seaport Private Limited - India
- Thai Mozambique Logistica
- Bukit Makmur.PT - Indonesia
- Rio Tinto Coal - Australia
- Jorong Barutama Greston.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Coal and Oil Company - UAE
- Neyveli Lignite Corporation Ltd, - India
- Samtan Co., Ltd - South Korea
- Port Waratah Coal Services - Australia
- Electricity Generating Authority of Thailand
- Singapore Mercantile Exchange
- Sojitz Corporation - Japan
- Indogreen Group - Indonesia
- Edison Trading Spa - Italy
- Gujarat Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- Jindal Steel & Power Ltd - India
- Semirara Mining Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Thiess Contractors Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bharathi Cement Corporation - India
- Directorate Of Revenue Intelligence - India
- Kepco SPC Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Minerals Council of Australia
- Agrawal Coal Company - India
- Romanian Commodities Exchange
- Commonwealth Bank - Australia
- Chamber of Mines of South Africa
- Sindya Power Generating Company Private Ltd
- Larsen & Toubro Limited - India
- Cigading International Bulk Terminal - Indonesia
- PTC India Limited - India
- Latin American Coal - Colombia
- India Bulls Power Limited - India
- Bulk Trading Sa - Switzerland
- Georgia Ports Authority, United States
- The State Trading Corporation of India Ltd
- Salva Resources Pvt Ltd - India
- Sakthi Sugars Limited - India
- Coastal Gujarat Power Limited - India
- Uttam Galva Steels Limited - India
- TeaM Sual Corporation - Philippines
- ICICI Bank Limited - India
- Barasentosa Lestari - Indonesia
- Tata Chemicals Ltd - India
- London Commodity Brokers - England
- Kohat Cement Company Ltd. - Pakistan
- The Treasury - Australian Government
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