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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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Monday, 26 May 14
Q3 14 CFR SOUTH CHINA COAL SWAPS LOST 2.24% MONTH ON MONTH
COALspot.com: API 8 CFR South China Coal swaps for average Q3 14 deliveries lost 2.24 percent month on month and closed at US$ 73.88 per mt as on F ...
Monday, 26 May 14
NEWBUILDING ORDERING ACTIVITY RISES BY 78% IN DWT TONNAGE OVER THE FIRST 4 MONTHS OF THE YEARS, AS OWNERS INVEST$40.5 BN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Ship owners have plunged into newbuilding orders during the first four months of the year, as overall newbuilding business ended for the first four ...
Sunday, 25 May 14
FREIGHT RATES FROM SOUTH KALIMANTAN TO EAST COAST INDIAN PORTS WERE ASSESSED AT $9.50/MT
COALspot.com: The BDI was closed at 964 points down by 6.13 pct week on week. The Cape Index was lost 172 points or 11.24% week on week and closing ...
Saturday, 24 May 14
DRY BULK MARKET'S RECOVERY IS JUST AROUND THE CORNER SAYS SHIPOWNER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Despite the weaker than expected market sentiment in the dry bulk market over the course of the past few months, analysts and shipowners alike appe ...
Friday, 23 May 14
U.S. WEEKLY COAL PRODUCTION SLIPS 1.8% WEEK ENDED MAY 17, 2014
COALspot.com – United States the world's second largest coal producer, produced approximately 18.6 million short tons (mmst) of coal in a ...
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- AsiaOL BioFuels Corp., Philippines
- Meenaskhi Energy Private Limited - India
- Posco Energy - South Korea
- Ministry of Transport, Egypt
- Economic Council, Georgia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Bukit Baiduri Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Africa Commodities Group - South Africa
- Electricity Authority, New Zealand
- Mercuria Energy - Indonesia
- Bangladesh Power Developement Board
- Energy Link Ltd, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Central Java Power - Indonesia
- White Energy Company Limited
- Agrawal Coal Company - India
- Vedanta Resources Plc - India
- Georgia Ports Authority, United States
- The University of Queensland
- International Coal Ventures Pvt Ltd - India
- Anglo American - United Kingdom
- The Treasury - Australian Government
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Coalindo Energy - Indonesia
- GVK Power & Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Singapore Mercantile Exchange
- Borneo Indobara - Indonesia
- Heidelberg Cement - Germany
- Siam City Cement - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Pendopo Energi Batubara - Indonesia
- Parliament of New Zealand
- VISA Power Limited - India
- TeaM Sual Corporation - Philippines
- Makarim & Taira - Indonesia
- Gujarat Sidhee Cement - India
- Samtan Co., Ltd - South Korea
- Port Waratah Coal Services - Australia
- Sinarmas Energy and Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Coastal Gujarat Power Limited - India
- Indian Energy Exchange, India
- Oldendorff Carriers - Singapore
- Trasteel International SA, Italy
- McConnell Dowell - Australia
- CNBM International Corporation - China
- Tamil Nadu electricity Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Edison Trading Spa - Italy
- Ambuja Cements Ltd - India
- Bhushan Steel Limited - India
- Mintek Dendrill Indonesia
- Wilmar Investment Holdings
- Jindal Steel & Power Ltd - India
- Metalloyd Limited - United Kingdom
- Sree Jayajothi Cements Limited - India
- Ministry of Finance - Indonesia
- Sakthi Sugars Limited - India
- Iligan Light & Power Inc, Philippines
- Videocon Industries ltd - India
- Globalindo Alam Lestari - Indonesia
- Semirara Mining Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Carbofer General Trading SA - India
- Vijayanagar Sugar Pvt Ltd - India
- Lanco Infratech Ltd - India
- Minerals Council of Australia
- Thai Mozambique Logistica
- India Bulls Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Uttam Galva Steels Limited - India
- Sical Logistics Limited - India
- MS Steel International - UAE
- Goldman Sachs - Singapore
- Intertek Mineral Services - Indonesia
- Australian Commodity Traders Exchange
- Siam City Cement PLC, Thailand
- Madhucon Powers Ltd - India
- The State Trading Corporation of India Ltd
- Riau Bara Harum - Indonesia
- Deloitte Consulting - India
- Coal and Oil Company - UAE
- Jorong Barutama Greston.PT - Indonesia
- PTC India Limited - India
- PNOC Exploration Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Maheswari Brothers Coal Limited - India
- SMG Consultants - Indonesia
- Ind-Barath Power Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- Merrill Lynch Commodities Europe
- PowerSource Philippines DevCo
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Coal Association
- Grasim Industreis Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Power Finance Corporation Ltd., India
- Global Coal Blending Company Limited - Australia
- Bhatia International Limited - India
- Bharathi Cement Corporation - India
- Rashtriya Ispat Nigam Limited - India
- European Bulk Services B.V. - Netherlands
- GAC Shipping (India) Pvt Ltd
- Renaissance Capital - South Africa
- Timah Investasi Mineral - Indoneisa
- San Jose City I Power Corp, Philippines
- Simpson Spence & Young - Indonesia
- Malabar Cements Ltd - India
- London Commodity Brokers - England
- Rio Tinto Coal - Australia
- Thiess Contractors Indonesia
- Star Paper Mills Limited - India
- Energy Development Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Cement Manufacturers Association - India
- Petrochimia International Co. Ltd.- Taiwan
- Wood Mackenzie - Singapore
- ICICI Bank Limited - India
- SN Aboitiz Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Marubeni Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- South Luzon Thermal Energy Corporation
- Barasentosa Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Energy - Thailand
- LBH Netherlands Bv - Netherlands
- IHS Mccloskey Coal Group - USA
- Ceylon Electricity Board - Sri Lanka
- Krishnapatnam Port Company Ltd. - India
- Sojitz Corporation - Japan
- Orica Mining Services - Indonesia
- Kobexindo Tractors - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Indogreen Group - Indonesia
- Ministry of Mines - Canada
- Essar Steel Hazira Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Commonwealth Bank - Australia
- Billiton Holdings Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- GMR Energy Limited - India
- Jaiprakash Power Ventures ltd
- Indian Oil Corporation Limited
- GN Power Mariveles Coal Plant, Philippines
- Chettinad Cement Corporation Ltd - India
- Banpu Public Company Limited - Thailand
- CIMB Investment Bank - Malaysia
- Aditya Birla Group - India
- Toyota Tsusho Corporation, Japan
- Larsen & Toubro Limited - India
- Kideco Jaya Agung - Indonesia
- Central Electricity Authority - India
- Interocean Group of Companies - India
- Directorate General of MIneral and Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kumho Petrochemical, South Korea
- Neyveli Lignite Corporation Ltd, - India
- SMC Global Power, Philippines
- Latin American Coal - Colombia
- Formosa Plastics Group - Taiwan
- Antam Resourcindo - Indonesia
- Planning Commission, India
- Semirara Mining and Power Corporation, Philippines
- Petron Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- IEA Clean Coal Centre - UK
- Global Business Power Corporation, Philippines
- Romanian Commodities Exchange
- Leighton Contractors Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Bayan Resources Tbk. - Indonesia
- New Zealand Coal & Carbon
- Manunggal Multi Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Medco Energi Mining Internasional
- Standard Chartered Bank - UAE
- Indika Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Tata Chemicals Ltd - India
- ASAPP Information Group - India
- Salva Resources Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Baramulti Group, Indonesia
- Bhoruka Overseas - Indonesia
- Meralco Power Generation, Philippines
- Vizag Seaport Private Limited - India
- Altura Mining Limited, Indonesia
- Eastern Coal Council - USA
- Mercator Lines Limited - India
- Kapuas Tunggal Persada - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Electricity Generating Authority of Thailand
- Holcim Trading Pte Ltd - Singapore
- Orica Australia Pty. Ltd.
- Parry Sugars Refinery, India
- Dalmia Cement Bharat India
- Independent Power Producers Association of India
- Chamber of Mines of South Africa
- Maharashtra Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Karaikal Port Pvt Ltd - India
- Xindia Steels Limited - India
- Indonesian Coal Mining Association
- Mjunction Services Limited - India
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