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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, 29 May 14
PEABODY ENERGY CHAIRMAN RECEIVES WCA AWARD
The World Coal Association has presented Gregory H. Boyce, Chairman and Chief Executive Officer of Peabody Energy (NYSE: BTU), with the 2014 Chairm ...
Thursday, 29 May 14
HANDY : THE SUPRAS ARE BEING TRADED AROUND 13K FOR SHORTER UPTO 1 YEAR PERIOD
Handy
The week started off with bank holidays in London and very little happening. This trend has continued and we believe it will continue into ...
Wednesday, 28 May 14
THE DRY BULK MARKET REMAINED UNDER PRESSURE - INTERMODAL
COALspot.com: The Dry Bulk market remained under pressure during this past week, with all indices pointing down compared to the previous Friday. Th ...
Tuesday, 27 May 14
PORT OF NEWCASTLE SHIPPED 19.13% LESS COAL THIS PAST WEEK
COALspot.com: In the week ended 07:00 hours 26 May 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, ...
Monday, 26 May 14
SUB-BIT FOB INDO COAL SWAP Q1' 15 DELIVERIES CLOSED AT US$ 59.40 PER MT
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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- Goldman Sachs - Singapore
- Planning Commission, India
- Cigading International Bulk Terminal - Indonesia
- Wilmar Investment Holdings
- Eastern Coal Council - USA
- Global Business Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Edison Trading Spa - Italy
- Wood Mackenzie - Singapore
- Bharathi Cement Corporation - India
- Baramulti Group, Indonesia
- International Coal Ventures Pvt Ltd - India
- New Zealand Coal & Carbon
- Deloitte Consulting - India
- Kideco Jaya Agung - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Krishnapatnam Port Company Ltd. - India
- Xindia Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- PowerSource Philippines DevCo
- Bayan Resources Tbk. - Indonesia
- Central Java Power - Indonesia
- Latin American Coal - Colombia
- Toyota Tsusho Corporation, Japan
- Bangladesh Power Developement Board
- Altura Mining Limited, Indonesia
- ASAPP Information Group - India
- Sarangani Energy Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Kaltim Prima Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kalimantan Lumbung Energi - Indonesia
- CNBM International Corporation - China
- Semirara Mining and Power Corporation, Philippines
- ICICI Bank Limited - India
- Metalloyd Limited - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Renaissance Capital - South Africa
- Carbofer General Trading SA - India
- LBH Netherlands Bv - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Sakthi Sugars Limited - India
- GAC Shipping (India) Pvt Ltd
- Singapore Mercantile Exchange
- Riau Bara Harum - Indonesia
- Iligan Light & Power Inc, Philippines
- Trasteel International SA, Italy
- PNOC Exploration Corporation - Philippines
- Ministry of Mines - Canada
- Ind-Barath Power Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Medco Energi Mining Internasional
- Ministry of Transport, Egypt
- Maharashtra Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- Parry Sugars Refinery, India
- Uttam Galva Steels Limited - India
- Bhushan Steel Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Straits Asia Resources Limited - Singapore
- Port Waratah Coal Services - Australia
- Energy Link Ltd, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- GVK Power & Infra Limited - India
- Standard Chartered Bank - UAE
- Marubeni Corporation - India
- Gujarat Sidhee Cement - India
- Romanian Commodities Exchange
- Global Green Power PLC Corporation, Philippines
- SMG Consultants - Indonesia
- Kartika Selabumi Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Kobexindo Tractors - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Australian Commodity Traders Exchange
- Videocon Industries ltd - India
- Tamil Nadu electricity Board
- Minerals Council of Australia
- SMC Global Power, Philippines
- White Energy Company Limited
- Oldendorff Carriers - Singapore
- VISA Power Limited - India
- Therma Luzon, Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Intertek Mineral Services - Indonesia
- Bhatia International Limited - India
- Sree Jayajothi Cements Limited - India
- Lanco Infratech Ltd - India
- Power Finance Corporation Ltd., India
- Coal and Oil Company - UAE
- Formosa Plastics Group - Taiwan
- Petrochimia International Co. Ltd.- Taiwan
- London Commodity Brokers - England
- Salva Resources Pvt Ltd - India
- Central Electricity Authority - India
- Billiton Holdings Pty Ltd - Australia
- The University of Queensland
- Banpu Public Company Limited - Thailand
- Gujarat Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Independent Power Producers Association of India
- Ministry of Finance - Indonesia
- Orica Australia Pty. Ltd.
- Bukit Makmur.PT - Indonesia
- Indonesian Coal Mining Association
- Essar Steel Hazira Ltd - India
- Commonwealth Bank - Australia
- Indian Energy Exchange, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jindal Steel & Power Ltd - India
- OPG Power Generation Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Alfred C Toepfer International GmbH - Germany
- Cement Manufacturers Association - India
- Agrawal Coal Company - India
- Rio Tinto Coal - Australia
- Mintek Dendrill Indonesia
- Electricity Generating Authority of Thailand
- Grasim Industreis Ltd - India
- Eastern Energy - Thailand
- Electricity Authority, New Zealand
- Makarim & Taira - Indonesia
- Anglo American - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- European Bulk Services B.V. - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Petron Corporation, Philippines
- Orica Mining Services - Indonesia
- IEA Clean Coal Centre - UK
- Star Paper Mills Limited - India
- Antam Resourcindo - Indonesia
- Aditya Birla Group - India
- Interocean Group of Companies - India
- Rashtriya Ispat Nigam Limited - India
- Attock Cement Pakistan Limited
- Siam City Cement - Thailand
- TeaM Sual Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Kumho Petrochemical, South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CIMB Investment Bank - Malaysia
- Sojitz Corporation - Japan
- Mjunction Services Limited - India
- Indika Energy - Indonesia
- India Bulls Power Limited - India
- Larsen & Toubro Limited - India
- Heidelberg Cement - Germany
- Manunggal Multi Energi - Indonesia
- Barasentosa Lestari - Indonesia
- Africa Commodities Group - South Africa
- Simpson Spence & Young - Indonesia
- Tata Chemicals Ltd - India
- Energy Development Corp, Philippines
- Madhucon Powers Ltd - India
- PTC India Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Maheswari Brothers Coal Limited - India
- Sical Logistics Limited - India
- Parliament of New Zealand
- Siam City Cement PLC, Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Coal Blending Company Limited - Australia
- Ambuja Cements Ltd - India
- GMR Energy Limited - India
- Thiess Contractors Indonesia
- Borneo Indobara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Globalindo Alam Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Economic Council, Georgia
- MS Steel International - UAE
- Karbindo Abesyapradhi - Indoneisa
- Australian Coal Association
- Coalindo Energy - Indonesia
- Jaiprakash Power Ventures ltd
- San Jose City I Power Corp, Philippines
- Aboitiz Power Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Indogreen Group - Indonesia
- Vedanta Resources Plc - India
- Thai Mozambique Logistica
- Indo Tambangraya Megah - Indonesia
- Malabar Cements Ltd - India
- Georgia Ports Authority, United States
- Semirara Mining Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Meralco Power Generation, Philippines
- McConnell Dowell - Australia
- Dalmia Cement Bharat India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Pendopo Energi Batubara - Indonesia
- Kepco SPC Power Corporation, Philippines
- The Treasury - Australian Government
- Savvy Resources Ltd - HongKong
- Posco Energy - South Korea
- Chamber of Mines of South Africa
- Karaikal Port Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Sindya Power Generating Company Private Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Mercator Lines Limited - India
- Bukit Baiduri Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Samtan Co., Ltd - South Korea
- Vizag Seaport Private Limited - India
- Mercuria Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Oil Corporation Limited
- Merrill Lynch Commodities Europe
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