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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, 23 May 14
DRY BULK NEWBUILDING CANCELLATIONS COULD HELP SUPPORT MARKET IN THE COMING WEEKS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market's demise over the past few months maybe has come as a surprise to many, but analysts and shipbrokers are looking forward to ...
Thursday, 22 May 14
HEAR SUCCESSFUL CASE STUDIES FROM 10 INDEPENDENT UNCONVENTIONAL GAS OPERATORS
Unconventional Gas Asia 2014 will provide a unique opportunity for Asia’s unconventional gas leaders to share their experience and expertise ...
Thursday, 22 May 14
CNPC-GAZPROM DEAL A MEDIUM - TERM POSITIVE FOR CHINA'S GAS SECTOR
Fitch Ratings says a 30-year deal in which Russia's OAO Gazprom (BBB/Negative) will supply gas to China National Petroleum Corporation (CNPC; A ...
Thursday, 22 May 14
CAPESIZE : RATES ARE STILL UNDER PRESSURE
Handy
A quiet start into the week in Far East, some fresh Indonesian coal order in the market. For trips within S.E. Asia, Supras are trading aro ...
Wednesday, 21 May 14
SHIPPING: MARKET INSIGHT - GEORGE LAZARIDIS
The recent revision by the OECD of its global growth forecast has sparked a debate as to the potential outcome these new figures will have on seabo ...
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- Barasentosa Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- Ministry of Transport, Egypt
- Aditya Birla Group - India
- Central Java Power - Indonesia
- The University of Queensland
- Tata Chemicals Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Carbofer General Trading SA - India
- Siam City Cement PLC, Thailand
- Banpu Public Company Limited - Thailand
- Cigading International Bulk Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Medco Energi Mining Internasional
- Indogreen Group - Indonesia
- Energy Link Ltd, New Zealand
- Samtan Co., Ltd - South Korea
- Africa Commodities Group - South Africa
- Savvy Resources Ltd - HongKong
- San Jose City I Power Corp, Philippines
- Grasim Industreis Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Georgia Ports Authority, United States
- India Bulls Power Limited - India
- Binh Thuan Hamico - Vietnam
- Romanian Commodities Exchange
- OPG Power Generation Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Videocon Industries ltd - India
- Australian Commodity Traders Exchange
- MS Steel International - UAE
- Pendopo Energi Batubara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Altura Mining Limited, Indonesia
- Salva Resources Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Meralco Power Generation, Philippines
- SN Aboitiz Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Iligan Light & Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Kohat Cement Company Ltd. - Pakistan
- Planning Commission, India
- Indian Oil Corporation Limited
- Vizag Seaport Private Limited - India
- Siam City Cement - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Global Coal Blending Company Limited - Australia
- PTC India Limited - India
- AsiaOL BioFuels Corp., Philippines
- Bangladesh Power Developement Board
- Central Electricity Authority - India
- Commonwealth Bank - Australia
- Tamil Nadu electricity Board
- Xindia Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- TNB Fuel Sdn Bhd - Malaysia
- Sical Logistics Limited - India
- Bhoruka Overseas - Indonesia
- Billiton Holdings Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- Thai Mozambique Logistica
- Coal and Oil Company - UAE
- Bhushan Steel Limited - India
- Agrawal Coal Company - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Marubeni Corporation - India
- Heidelberg Cement - Germany
- Renaissance Capital - South Africa
- Singapore Mercantile Exchange
- Essar Steel Hazira Ltd - India
- Riau Bara Harum - Indonesia
- Port Waratah Coal Services - Australia
- Intertek Mineral Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Thiess Contractors Indonesia
- Gujarat Sidhee Cement - India
- Coalindo Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Dalmia Cement Bharat India
- Sojitz Corporation - Japan
- Bhatia International Limited - India
- Energy Development Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- Pipit Mutiara Jaya. PT, Indonesia
- ASAPP Information Group - India
- Coastal Gujarat Power Limited - India
- London Commodity Brokers - England
- TeaM Sual Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- IEA Clean Coal Centre - UK
- Latin American Coal - Colombia
- Therma Luzon, Inc, Philippines
- Price Waterhouse Coopers - Russia
- PNOC Exploration Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jaiprakash Power Ventures ltd
- PowerSource Philippines DevCo
- Anglo American - United Kingdom
- Ambuja Cements Ltd - India
- Deloitte Consulting - India
- Power Finance Corporation Ltd., India
- Independent Power Producers Association of India
- Interocean Group of Companies - India
- Bukit Makmur.PT - Indonesia
- Orica Mining Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Vedanta Resources Plc - India
- IHS Mccloskey Coal Group - USA
- Parliament of New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Standard Chartered Bank - UAE
- Holcim Trading Pte Ltd - Singapore
- Sree Jayajothi Cements Limited - India
- Minerals Council of Australia
- Bharathi Cement Corporation - India
- Straits Asia Resources Limited - Singapore
- Posco Energy - South Korea
- Eastern Energy - Thailand
- Mjunction Services Limited - India
- Bukit Baiduri Energy - Indonesia
- Cement Manufacturers Association - India
- Indo Tambangraya Megah - Indonesia
- GAC Shipping (India) Pvt Ltd
- CIMB Investment Bank - Malaysia
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining and Power Corporation, Philippines
- Wilmar Investment Holdings
- The Treasury - Australian Government
- Star Paper Mills Limited - India
- Baramulti Group, Indonesia
- Metalloyd Limited - United Kingdom
- Larsen & Toubro Limited - India
- Mercuria Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Indian Energy Exchange, India
- Edison Trading Spa - Italy
- PetroVietnam Power Coal Import and Supply Company
- Petron Corporation, Philippines
- New Zealand Coal & Carbon
- Kepco SPC Power Corporation, Philippines
- Mintek Dendrill Indonesia
- McConnell Dowell - Australia
- CNBM International Corporation - China
- Australian Coal Association
- Kumho Petrochemical, South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- GMR Energy Limited - India
- Ministry of Finance - Indonesia
- Mercator Lines Limited - India
- Bulk Trading Sa - Switzerland
- ICICI Bank Limited - India
- Borneo Indobara - Indonesia
- Directorate Of Revenue Intelligence - India
- European Bulk Services B.V. - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Mines - Canada
- Goldman Sachs - Singapore
- Rio Tinto Coal - Australia
- Bayan Resources Tbk. - Indonesia
- Ceylon Electricity Board - Sri Lanka
- GVK Power & Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- LBH Netherlands Bv - Netherlands
- Attock Cement Pakistan Limited
- SMG Consultants - Indonesia
- White Energy Company Limited
- Kobexindo Tractors - Indoneisa
- Economic Council, Georgia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Authority, New Zealand
- Chettinad Cement Corporation Ltd - India
- Lanco Infratech Ltd - India
- Sakthi Sugars Limited - India
- Oldendorff Carriers - Singapore
- Madhucon Powers Ltd - India
- Indonesian Coal Mining Association
- Timah Investasi Mineral - Indoneisa
- SMC Global Power, Philippines
- Rashtriya Ispat Nigam Limited - India
- Makarim & Taira - Indonesia
- Malabar Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- Trasteel International SA, Italy
- VISA Power Limited - India
- Antam Resourcindo - Indonesia
- Uttam Galva Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Miang Besar Coal Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Orica Australia Pty. Ltd.
- Simpson Spence & Young - Indonesia
- Sindya Power Generating Company Private Ltd
- Ind-Barath Power Infra Limited - India
- Wood Mackenzie - Singapore
- Global Business Power Corporation, Philippines
- Chamber of Mines of South Africa
- Electricity Generating Authority of Thailand
- Indika Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Formosa Plastics Group - Taiwan
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