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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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Wednesday, 14 May 14
COAL PRICES IN CHINA HAVE DROPPED TO THEIR LOWEST LEVELS SINCE END-2008
COALspot.com: Coal prices in China have dropped to their lowest levels since end-2008, Fitch says in its latest rating report on one of the coal ...
Wednesday, 14 May 14
ALMOST THROUGH THE HALF OF THE YEAR, THE DRY BULK INDEX SHOW SIGNS OF WEAKNESS; CREATING TO BOTH EXISTING SHIP OWNERS AND POTENTIAL INVESTORS A LOT OF INSECURITY - PANOS MAKRINOS
Almost through the half of the year, the overall shipping market and more specifically the Dry Bulk Index show signs of weakness, creating to bo ...
Tuesday, 13 May 14
NPC COAL EXPORT VOLUMES PLUNGE TO 2.48 MMT WEEK ON WEEK
COALspot.com: In the week ended 07:00 hours 12 May 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Quee ...
Tuesday, 13 May 14
YET ANOTHER POSIDONIA EXHIBITION IS ON ITS WAY - INTERMODAL
With less than a month to go before another Posidonia exhibition starts and all the parties and celebrations get under way we thought that it wo ...
Monday, 12 May 14
TAIPOWER TO IMPORT AROUND 1 MMT OF SUB-BITUMINOUS COAL DURING AUGUST 2014 THROUGH NOVEMBER 2014
COALspot.com - Taiwan Power Company intends to procure 1.050 million tons of sub-bituminous coal for Taipower thermal power plant through open t ...
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- Romanian Commodities Exchange
- IEA Clean Coal Centre - UK
- Sojitz Corporation - Japan
- Meenaskhi Energy Private Limited - India
- Planning Commission, India
- Edison Trading Spa - Italy
- Parry Sugars Refinery, India
- Indika Energy - Indonesia
- London Commodity Brokers - England
- Bhoruka Overseas - Indonesia
- Ministry of Finance - Indonesia
- Cement Manufacturers Association - India
- Bayan Resources Tbk. - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Rio Tinto Coal - Australia
- Trasteel International SA, Italy
- Economic Council, Georgia
- SN Aboitiz Power Inc, Philippines
- Port Waratah Coal Services - Australia
- GMR Energy Limited - India
- India Bulls Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Renaissance Capital - South Africa
- Anglo American - United Kingdom
- Lanco Infratech Ltd - India
- Global Green Power PLC Corporation, Philippines
- Sakthi Sugars Limited - India
- Gujarat Sidhee Cement - India
- Ministry of Transport, Egypt
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement - Thailand
- Latin American Coal - Colombia
- Indonesian Coal Mining Association
- Bhushan Steel Limited - India
- Merrill Lynch Commodities Europe
- Formosa Plastics Group - Taiwan
- Mintek Dendrill Indonesia
- Larsen & Toubro Limited - India
- Gujarat Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Tata Chemicals Ltd - India
- Toyota Tsusho Corporation, Japan
- Indian Oil Corporation Limited
- Vijayanagar Sugar Pvt Ltd - India
- SMC Global Power, Philippines
- Sical Logistics Limited - India
- Ind-Barath Power Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Energy Link Ltd, New Zealand
- Power Finance Corporation Ltd., India
- Maheswari Brothers Coal Limited - India
- Baramulti Group, Indonesia
- Parliament of New Zealand
- Goldman Sachs - Singapore
- OPG Power Generation Pvt Ltd - India
- Malabar Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jaiprakash Power Ventures ltd
- Antam Resourcindo - Indonesia
- Tamil Nadu electricity Board
- Riau Bara Harum - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Miang Besar Coal Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Vizag Seaport Private Limited - India
- Petron Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Generating Authority of Thailand
- Eastern Coal Council - USA
- Commonwealth Bank - Australia
- The University of Queensland
- Mercator Lines Limited - India
- Wood Mackenzie - Singapore
- Central Java Power - Indonesia
- Altura Mining Limited, Indonesia
- IHS Mccloskey Coal Group - USA
- Madhucon Powers Ltd - India
- Pendopo Energi Batubara - Indonesia
- Coal and Oil Company - UAE
- Iligan Light & Power Inc, Philippines
- Interocean Group of Companies - India
- Timah Investasi Mineral - Indoneisa
- Borneo Indobara - Indonesia
- Samtan Co., Ltd - South Korea
- Minerals Council of Australia
- Star Paper Mills Limited - India
- Wilmar Investment Holdings
- European Bulk Services B.V. - Netherlands
- Bhatia International Limited - India
- Sarangani Energy Corporation, Philippines
- ICICI Bank Limited - India
- Central Electricity Authority - India
- Attock Cement Pakistan Limited
- Bukit Makmur.PT - Indonesia
- Indian Energy Exchange, India
- Eastern Energy - Thailand
- Rashtriya Ispat Nigam Limited - India
- Marubeni Corporation - India
- White Energy Company Limited
- Xindia Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- VISA Power Limited - India
- Georgia Ports Authority, United States
- ASAPP Information Group - India
- Bangladesh Power Developement Board
- Electricity Authority, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- The State Trading Corporation of India Ltd
- Siam City Cement PLC, Thailand
- Kartika Selabumi Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Banpu Public Company Limited - Thailand
- Semirara Mining Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Posco Energy - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thiess Contractors Indonesia
- Independent Power Producers Association of India
- San Jose City I Power Corp, Philippines
- Coalindo Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Makarim & Taira - Indonesia
- Kideco Jaya Agung - Indonesia
- Australian Coal Association
- Bharathi Cement Corporation - India
- Energy Development Corp, Philippines
- Medco Energi Mining Internasional
- Petrochimia International Co. Ltd.- Taiwan
- Chamber of Mines of South Africa
- Ministry of Mines - Canada
- TeaM Sual Corporation - Philippines
- Vedanta Resources Plc - India
- Orica Mining Services - Indonesia
- Mjunction Services Limited - India
- Africa Commodities Group - South Africa
- South Luzon Thermal Energy Corporation
- Indo Tambangraya Megah - Indonesia
- Karaikal Port Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Carbofer General Trading SA - India
- Videocon Industries ltd - India
- Meralco Power Generation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Kumho Petrochemical, South Korea
- Standard Chartered Bank - UAE
- Salva Resources Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Simpson Spence & Young - Indonesia
- Manunggal Multi Energi - Indonesia
- The Treasury - Australian Government
- PowerSource Philippines DevCo
- Straits Asia Resources Limited - Singapore
- Krishnapatnam Port Company Ltd. - India
- Agrawal Coal Company - India
- MS Steel International - UAE
- Oldendorff Carriers - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Billiton Holdings Pty Ltd - Australia
- Singapore Mercantile Exchange
- Binh Thuan Hamico - Vietnam
- Deloitte Consulting - India
- Indogreen Group - Indonesia
- Heidelberg Cement - Germany
- Ambuja Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Thai Mozambique Logistica
- Kohat Cement Company Ltd. - Pakistan
- SMG Consultants - Indonesia
- Savvy Resources Ltd - HongKong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercuria Energy - Indonesia
- New Zealand Coal & Carbon
- Aditya Birla Group - India
- Price Waterhouse Coopers - Russia
- GVK Power & Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Uttam Galva Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Kobexindo Tractors - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Australian Commodity Traders Exchange
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining and Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Directorate Of Revenue Intelligence - India
- Kepco SPC Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Maharashtra Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- CNBM International Corporation - China
- Grasim Industreis Ltd - India
- Jindal Steel & Power Ltd - India
- International Coal Ventures Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Orica Australia Pty. Ltd.
- Ceylon Electricity Board - Sri Lanka
- Dalmia Cement Bharat India
- PTC India Limited - India
- Gujarat Mineral Development Corp Ltd - India
- McConnell Dowell - Australia
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