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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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Tuesday, 20 May 14
NEWCASTLE'S COAL EXPORT VOLUME UP 39.11 PERCENT WEEK ON WEEK
COALspot.com: In the week ended 07:00 hours 19 May 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, ...
Tuesday, 20 May 14
DRY BULK MARKET TO IMPROVE OVER THE COURSE OF 2014, BUT OVERSUPPLY STILL AN ISSUE SAYS BIMCO'S CHIEF SHIPPING ANALYST
As a gruelling first quarter edges closer to the end, dry bulk ship owners are looking at an improved second quarter demand, which, coupled with sl ...
Tuesday, 20 May 14
DRY BULK MARKET IS BOUND FOR A RECOVERY CLAIMS PARAGON SHIPPING'S HEAD MICHAEL BODOUROGLOU
The dry bulk market is bound for a recovery in the coming weeks, as the market will be better balanced, said Mr. Michael Bodouroglou, Chairman and ...
Monday, 19 May 14
INDO COAL SWAPS FOR AVERAGE Q3' 2014 DELIVERY LOST ON WEEK AND ON MONTH
COALspot.com: Indonesian coal swaps for average Q3’ 2014 lost on week and on month according to AsiaClear OTC coal swap's reports release ...
Monday, 19 May 14
API 8 CFR SOUTH CHINA COAL LOST 2.49% MONTH ON MONTH
COALspot.com: API 8 CFR South China Coal swaps for average Q3 14 deliveries lost 2.49 percent month on month and closed at US$ 74.35 per mt as on F ...
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- Vizag Seaport Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Ind-Barath Power Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Aboitiz Power Corporation - Philippines
- Standard Chartered Bank - UAE
- Barasentosa Lestari - Indonesia
- Interocean Group of Companies - India
- Marubeni Corporation - India
- Australian Commodity Traders Exchange
- Global Business Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Bhatia International Limited - India
- Makarim & Taira - Indonesia
- ICICI Bank Limited - India
- Carbofer General Trading SA - India
- LBH Netherlands Bv - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Tamil Nadu electricity Board
- Star Paper Mills Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Kaltim Prima Coal - Indonesia
- Economic Council, Georgia
- Petron Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Baramulti Group, Indonesia
- Edison Trading Spa - Italy
- Wood Mackenzie - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Thiess Contractors Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ASAPP Information Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Larsen & Toubro Limited - India
- Sindya Power Generating Company Private Ltd
- Australian Coal Association
- Goldman Sachs - Singapore
- Formosa Plastics Group - Taiwan
- Gujarat Sidhee Cement - India
- Neyveli Lignite Corporation Ltd, - India
- Electricity Generating Authority of Thailand
- TeaM Sual Corporation - Philippines
- Riau Bara Harum - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- PNOC Exploration Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Manunggal Multi Energi - Indonesia
- Dalmia Cement Bharat India
- Lanco Infratech Ltd - India
- Karaikal Port Pvt Ltd - India
- Indian Oil Corporation Limited
- India Bulls Power Limited - India
- Parry Sugars Refinery, India
- Binh Thuan Hamico - Vietnam
- Salva Resources Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Cement Manufacturers Association - India
- SMG Consultants - Indonesia
- GMR Energy Limited - India
- Ministry of Mines - Canada
- Siam City Cement - Thailand
- Bangladesh Power Developement Board
- White Energy Company Limited
- Asmin Koalindo Tuhup - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Deloitte Consulting - India
- Indonesian Coal Mining Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Simpson Spence & Young - Indonesia
- Metalloyd Limited - United Kingdom
- Jindal Steel & Power Ltd - India
- Iligan Light & Power Inc, Philippines
- Africa Commodities Group - South Africa
- Savvy Resources Ltd - HongKong
- Madhucon Powers Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Malabar Cements Ltd - India
- Sojitz Corporation - Japan
- Bhoruka Overseas - Indonesia
- Orica Australia Pty. Ltd.
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Miang Besar Coal Terminal - Indonesia
- Attock Cement Pakistan Limited
- The Treasury - Australian Government
- Meralco Power Generation, Philippines
- Mjunction Services Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Straits Asia Resources Limited - Singapore
- Sical Logistics Limited - India
- Antam Resourcindo - Indonesia
- Semirara Mining Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Port Waratah Coal Services - Australia
- Mercuria Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- Jaiprakash Power Ventures ltd
- OPG Power Generation Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Ministry of Finance - Indonesia
- Banpu Public Company Limited - Thailand
- Wilmar Investment Holdings
- Kobexindo Tractors - Indoneisa
- Sree Jayajothi Cements Limited - India
- Coal and Oil Company - UAE
- Meenaskhi Energy Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Vedanta Resources Plc - India
- Commonwealth Bank - Australia
- Therma Luzon, Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Anglo American - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Georgia Ports Authority, United States
- Indo Tambangraya Megah - Indonesia
- Renaissance Capital - South Africa
- Karbindo Abesyapradhi - Indoneisa
- IEA Clean Coal Centre - UK
- Medco Energi Mining Internasional
- Uttam Galva Steels Limited - India
- Eastern Energy - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Electricity Authority, New Zealand
- Bhushan Steel Limited - India
- Thai Mozambique Logistica
- Grasim Industreis Ltd - India
- Eastern Coal Council - USA
- Power Finance Corporation Ltd., India
- Romanian Commodities Exchange
- Billiton Holdings Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- New Zealand Coal & Carbon
- GVK Power & Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- CIMB Investment Bank - Malaysia
- Central Electricity Authority - India
- Price Waterhouse Coopers - Russia
- Oldendorff Carriers - Singapore
- Planning Commission, India
- Central Java Power - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Ministry of Transport, Egypt
- Maheswari Brothers Coal Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Kumho Petrochemical, South Korea
- VISA Power Limited - India
- Intertek Mineral Services - Indonesia
- Parliament of New Zealand
- Chamber of Mines of South Africa
- Singapore Mercantile Exchange
- Merrill Lynch Commodities Europe
- Borneo Indobara - Indonesia
- Bayan Resources Tbk. - Indonesia
- London Commodity Brokers - England
- MS Steel International - UAE
- Posco Energy - South Korea
- Xindia Steels Limited - India
- Samtan Co., Ltd - South Korea
- PowerSource Philippines DevCo
- Orica Mining Services - Indonesia
- Independent Power Producers Association of India
- Indika Energy - Indonesia
- Tata Chemicals Ltd - India
- Sarangani Energy Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Indian Energy Exchange, India
- Sinarmas Energy and Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coalindo Energy - Indonesia
- SMC Global Power, Philippines
- Kideco Jaya Agung - Indonesia
- Mercator Lines Limited - India
- Rashtriya Ispat Nigam Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Latin American Coal - Colombia
- Videocon Industries ltd - India
- Aditya Birla Group - India
- Energy Development Corp, Philippines
- CNBM International Corporation - China
- Ceylon Electricity Board - Sri Lanka
- Global Coal Blending Company Limited - Australia
- Siam City Cement PLC, Thailand
- Energy Link Ltd, New Zealand
- Timah Investasi Mineral - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- The University of Queensland
- Altura Mining Limited, Indonesia
- Chettinad Cement Corporation Ltd - India
- Minerals Council of Australia
- The State Trading Corporation of India Ltd
- South Luzon Thermal Energy Corporation
- Heidelberg Cement - Germany
- Ambuja Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- McConnell Dowell - Australia
- Kepco SPC Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- PTC India Limited - India
- Indogreen Group - Indonesia
- Agrawal Coal Company - India
- Mintek Dendrill Indonesia
- International Coal Ventures Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Trasteel International SA, Italy
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