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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, 12 May 14
DRY BULK MARKET IS STILL STRUGGLING TO FIND FIRM FOOTING
COALspot.com: The freight market continued to be weak and the BDI closed slightly lower at 997 points or fell 1.96 pct week on week. The cape in ...
Friday, 09 May 14
RBCT SHIPPED 5.4 MMT OF COAL IN APRIL
COALspot.com: South Africa's Richards Bay Coal Terminal (RBCT) the single largest coal export terminal in the world, shipped 5.45 million to ...
Friday, 09 May 14
DRY BULK MARKET: BANKRUPTCY TONNAGE UNLEASHED
Drewry’s latest Dry Bulk Forecaster saw freight rates on most routes declined in 2014’s first quarter as the previous quarter’ ...
Friday, 09 May 14
UNITED STATES COAL PRODUCTION SLIGHTLY SLIDES TO 82.4 MMST IN APRIL
COALspot.com – United States the world's second largest coal producer, produced approximately 18.8 million short tons (mmst) of coal i ...
Thursday, 08 May 14
'TRIAL BY MEDIA, TRIAL BY LAW' - A REPORT FROM TRACK 1 OF BIMCO'S ANNUAL CONFERENCE DUBAI 2014
KNOWLEDGE TO ELEVATE
Aiming to bring a very different type of event into their annual conference, BIMCO presented ‘Double Jeopardy &n ...
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- Iligan Light & Power Inc, Philippines
- Makarim & Taira - Indonesia
- Bharathi Cement Corporation - India
- Sojitz Corporation - Japan
- Orica Mining Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Tamil Nadu electricity Board
- Sarangani Energy Corporation, Philippines
- The Treasury - Australian Government
- Jaiprakash Power Ventures ltd
- PTC India Limited - India
- Indo Tambangraya Megah - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- OPG Power Generation Pvt Ltd - India
- ASAPP Information Group - India
- GN Power Mariveles Coal Plant, Philippines
- Sinarmas Energy and Mining - Indonesia
- The State Trading Corporation of India Ltd
- Oldendorff Carriers - Singapore
- Edison Trading Spa - Italy
- Indika Energy - Indonesia
- Thiess Contractors Indonesia
- Electricity Authority, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Transport, Egypt
- Kideco Jaya Agung - Indonesia
- Samtan Co., Ltd - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Malabar Cements Ltd - India
- White Energy Company Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Finance - Indonesia
- Kumho Petrochemical, South Korea
- CNBM International Corporation - China
- Indian Energy Exchange, India
- Pendopo Energi Batubara - Indonesia
- Minerals Council of Australia
- Economic Council, Georgia
- Directorate General of MIneral and Coal - Indonesia
- Xindia Steels Limited - India
- Indian Oil Corporation Limited
- Independent Power Producers Association of India
- AsiaOL BioFuels Corp., Philippines
- Mjunction Services Limited - India
- Gujarat Sidhee Cement - India
- Latin American Coal - Colombia
- Mercuria Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Power Finance Corporation Ltd., India
- Jorong Barutama Greston.PT - Indonesia
- Ambuja Cements Ltd - India
- Singapore Mercantile Exchange
- Meenaskhi Energy Private Limited - India
- Binh Thuan Hamico - Vietnam
- The University of Queensland
- Trasteel International SA, Italy
- Timah Investasi Mineral - Indoneisa
- Videocon Industries ltd - India
- Jindal Steel & Power Ltd - India
- Thai Mozambique Logistica
- Anglo American - United Kingdom
- Parry Sugars Refinery, India
- Maheswari Brothers Coal Limited - India
- Marubeni Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ceylon Electricity Board - Sri Lanka
- San Jose City I Power Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Baramulti Group, Indonesia
- Australian Coal Association
- Romanian Commodities Exchange
- Grasim Industreis Ltd - India
- Posco Energy - South Korea
- Agrawal Coal Company - India
- Indogreen Group - Indonesia
- Coal and Oil Company - UAE
- New Zealand Coal & Carbon
- McConnell Dowell - Australia
- Uttam Galva Steels Limited - India
- Madhucon Powers Ltd - India
- Essar Steel Hazira Ltd - India
- Larsen & Toubro Limited - India
- Savvy Resources Ltd - HongKong
- Bhoruka Overseas - Indonesia
- Banpu Public Company Limited - Thailand
- Sakthi Sugars Limited - India
- Kartika Selabumi Mining - Indonesia
- Goldman Sachs - Singapore
- Borneo Indobara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Indonesian Coal Mining Association
- Gujarat Mineral Development Corp Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Carbofer General Trading SA - India
- Straits Asia Resources Limited - Singapore
- South Luzon Thermal Energy Corporation
- Chamber of Mines of South Africa
- Tata Chemicals Ltd - India
- Formosa Plastics Group - Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Salva Resources Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- SMC Global Power, Philippines
- Holcim Trading Pte Ltd - Singapore
- Sindya Power Generating Company Private Ltd
- Bhatia International Limited - India
- PowerSource Philippines DevCo
- Eastern Coal Council - USA
- London Commodity Brokers - England
- Directorate Of Revenue Intelligence - India
- GMR Energy Limited - India
- Bhushan Steel Limited - India
- Altura Mining Limited, Indonesia
- Bukit Makmur.PT - Indonesia
- Electricity Generating Authority of Thailand
- Alfred C Toepfer International GmbH - Germany
- Energy Link Ltd, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Central Java Power - Indonesia
- Cement Manufacturers Association - India
- Ministry of Mines - Canada
- Bangladesh Power Developement Board
- Mintek Dendrill Indonesia
- Maharashtra Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Interocean Group of Companies - India
- IHS Mccloskey Coal Group - USA
- Barasentosa Lestari - Indonesia
- Wood Mackenzie - Singapore
- Intertek Mineral Services - Indonesia
- Global Coal Blending Company Limited - Australia
- Karbindo Abesyapradhi - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Planning Commission, India
- Dalmia Cement Bharat India
- ICICI Bank Limited - India
- India Bulls Power Limited - India
- Lanco Infratech Ltd - India
- Central Electricity Authority - India
- Kepco SPC Power Corporation, Philippines
- Siam City Cement - Thailand
- European Bulk Services B.V. - Netherlands
- Global Business Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Mercator Lines Limited - India
- Deloitte Consulting - India
- Kalimantan Lumbung Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- Antam Resourcindo - Indonesia
- PNOC Exploration Corporation - Philippines
- Wilmar Investment Holdings
- Parliament of New Zealand
- Coastal Gujarat Power Limited - India
- Australian Commodity Traders Exchange
- Star Paper Mills Limited - India
- IEA Clean Coal Centre - UK
- Kaltim Prima Coal - Indonesia
- Semirara Mining Corp, Philippines
- Standard Chartered Bank - UAE
- TeaM Sual Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Medco Energi Mining Internasional
- SMG Consultants - Indonesia
- Energy Development Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Price Waterhouse Coopers - Russia
- Billiton Holdings Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rio Tinto Coal - Australia
- Vizag Seaport Private Limited - India
- Manunggal Multi Energi - Indonesia
- Petron Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Bulk Trading Sa - Switzerland
- Georgia Ports Authority, United States
- PetroVietnam Power Coal Import and Supply Company
- Krishnapatnam Port Company Ltd. - India
- Renaissance Capital - South Africa
- Africa Commodities Group - South Africa
- Asmin Koalindo Tuhup - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Attock Cement Pakistan Limited
- Rashtriya Ispat Nigam Limited - India
- Bayan Resources Tbk. - Indonesia
- Riau Bara Harum - Indonesia
- Heidelberg Cement - Germany
- Kohat Cement Company Ltd. - Pakistan
- Ind-Barath Power Infra Limited - India
- Coalindo Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Meralco Power Generation, Philippines
- Eastern Energy - Thailand
- Toyota Tsusho Corporation, Japan
- LBH Netherlands Bv - Netherlands
- VISA Power Limited - India
- Merrill Lynch Commodities Europe
- Pipit Mutiara Jaya. PT, Indonesia
- CIMB Investment Bank - Malaysia
- Simpson Spence & Young - Indonesia
- Commonwealth Bank - Australia
- Aditya Birla Group - India
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- MS Steel International - UAE
- Sical Logistics Limited - India
- Port Waratah Coal Services - Australia
- Aboitiz Power Corporation - Philippines
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