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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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Thursday, 08 May 14
INDONESIAN COAL PRICE REFERENCE IN MAY CRASHES THROUGH $74
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia has revised down again the coal bench mark price by US$ 1.21 / MT to ...
Wednesday, 07 May 14
THE DRY BULK MARKET HAS NOTED ANOTHER WEEKLY POSITIVE GAIN
Chartering (Wet: Softer- / Dry: Stable+)
The Dry Bulk market has noted another weekly positive gain, driven by the Capesize segment, but we ne ...
Wednesday, 07 May 14
SGX ENHANCES ITS COMMODITIES PRODUCT OFFERING
COALspot.com: SGX is building up its bulk commodity product offerings with 9 more derivative contracts over the next 2 months, subject to regula ...
Tuesday, 06 May 14
NEWCASTLE COAL EXPORT SLIPS 7.92% WEEK ON WEEK
COALspot.com: In the week ended 07:00 hours 5 May 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland ...
Monday, 05 May 14
HUANENG CLEAN ENERGY RESEARCH INSTITUTE HAS CONFIRMED TO SPEAK AT CCF2014
Press Release: Produced by CDMC Events, The 13th Clean Coal Forum 2014 will be held on June 12,13, 2014 in Beijing, China. We are glad to invite ...
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- PNOC Exploration Corporation - Philippines
- Aditya Birla Group - India
- Port Waratah Coal Services - Australia
- Ambuja Cements Ltd - India
- MS Steel International - UAE
- Ceylon Electricity Board - Sri Lanka
- Timah Investasi Mineral - Indoneisa
- New Zealand Coal & Carbon
- Price Waterhouse Coopers - Russia
- Dalmia Cement Bharat India
- Madhucon Powers Ltd - India
- Africa Commodities Group - South Africa
- Formosa Plastics Group - Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Globalindo Alam Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Binh Thuan Hamico - Vietnam
- Lanco Infratech Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Xindia Steels Limited - India
- GMR Energy Limited - India
- Sree Jayajothi Cements Limited - India
- PTC India Limited - India
- Bayan Resources Tbk. - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Altura Mining Limited, Indonesia
- Meralco Power Generation, Philippines
- Orica Australia Pty. Ltd.
- Samtan Co., Ltd - South Korea
- Mercator Lines Limited - India
- Gujarat Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Grasim Industreis Ltd - India
- Wilmar Investment Holdings
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meenaskhi Energy Private Limited - India
- Karaikal Port Pvt Ltd - India
- Gujarat Sidhee Cement - India
- SN Aboitiz Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Bulk Trading Sa - Switzerland
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement - Thailand
- CNBM International Corporation - China
- Kobexindo Tractors - Indoneisa
- Jindal Steel & Power Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Energy Exchange, India
- Semirara Mining and Power Corporation, Philippines
- Latin American Coal - Colombia
- Semirara Mining Corp, Philippines
- ICICI Bank Limited - India
- Agrawal Coal Company - India
- Iligan Light & Power Inc, Philippines
- Makarim & Taira - Indonesia
- Oldendorff Carriers - Singapore
- Deloitte Consulting - India
- The Treasury - Australian Government
- Simpson Spence & Young - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- Electricity Authority, New Zealand
- Borneo Indobara - Indonesia
- Bhatia International Limited - India
- Attock Cement Pakistan Limited
- Larsen & Toubro Limited - India
- Therma Luzon, Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Standard Chartered Bank - UAE
- Directorate Of Revenue Intelligence - India
- Commonwealth Bank - Australia
- Barasentosa Lestari - Indonesia
- Thai Mozambique Logistica
- Star Paper Mills Limited - India
- Romanian Commodities Exchange
- Minerals Council of Australia
- Interocean Group of Companies - India
- McConnell Dowell - Australia
- Bhushan Steel Limited - India
- Orica Mining Services - Indonesia
- Trasteel International SA, Italy
- Energy Link Ltd, New Zealand
- Australian Coal Association
- Georgia Ports Authority, United States
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercuria Energy - Indonesia
- Thiess Contractors Indonesia
- IHS Mccloskey Coal Group - USA
- Riau Bara Harum - Indonesia
- Coal and Oil Company - UAE
- Holcim Trading Pte Ltd - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Australian Commodity Traders Exchange
- South Luzon Thermal Energy Corporation
- Electricity Generating Authority of Thailand
- Sakthi Sugars Limited - India
- Metalloyd Limited - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- LBH Netherlands Bv - Netherlands
- Coalindo Energy - Indonesia
- Sojitz Corporation - Japan
- Bhoruka Overseas - Indonesia
- VISA Power Limited - India
- Bukit Makmur.PT - Indonesia
- Parliament of New Zealand
- Eastern Energy - Thailand
- Kepco SPC Power Corporation, Philippines
- Planning Commission, India
- Vizag Seaport Private Limited - India
- Maheswari Brothers Coal Limited - India
- Indian Oil Corporation Limited
- Tamil Nadu electricity Board
- Bukit Asam (Persero) Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Edison Trading Spa - Italy
- Sical Logistics Limited - India
- Kideco Jaya Agung - Indonesia
- OPG Power Generation Pvt Ltd - India
- Energy Development Corp, Philippines
- Banpu Public Company Limited - Thailand
- Tata Chemicals Ltd - India
- Antam Resourcindo - Indonesia
- Jaiprakash Power Ventures ltd
- Intertek Mineral Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Economic Council, Georgia
- Eastern Coal Council - USA
- Ministry of Mines - Canada
- Videocon Industries ltd - India
- Petron Corporation, Philippines
- Chamber of Mines of South Africa
- Ministry of Finance - Indonesia
- Global Green Power PLC Corporation, Philippines
- Mintek Dendrill Indonesia
- Posco Energy - South Korea
- Wood Mackenzie - Singapore
- SMG Consultants - Indonesia
- Merrill Lynch Commodities Europe
- GVK Power & Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Anglo American - United Kingdom
- Mjunction Services Limited - India
- Baramulti Group, Indonesia
- India Bulls Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Bharathi Cement Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Malabar Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Independent Power Producers Association of India
- Chettinad Cement Corporation Ltd - India
- San Jose City I Power Corp, Philippines
- Renaissance Capital - South Africa
- Medco Energi Mining Internasional
- European Bulk Services B.V. - Netherlands
- ASAPP Information Group - India
- Singapore Mercantile Exchange
- AsiaOL BioFuels Corp., Philippines
- International Coal Ventures Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Carbofer General Trading SA - India
- Directorate General of MIneral and Coal - Indonesia
- CIMB Investment Bank - Malaysia
- IEA Clean Coal Centre - UK
- White Energy Company Limited
- SMC Global Power, Philippines
- Kaltim Prima Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Central Electricity Authority - India
- PowerSource Philippines DevCo
- Straits Asia Resources Limited - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Salva Resources Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Indika Energy - Indonesia
- Global Business Power Corporation, Philippines
- Heidelberg Cement - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TeaM Sual Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rashtriya Ispat Nigam Limited - India
- Central Java Power - Indonesia
- Ministry of Transport, Egypt
- Billiton Holdings Pty Ltd - Australia
- Vedanta Resources Plc - India
- TNB Fuel Sdn Bhd - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The University of Queensland
- Bangladesh Power Developement Board
- Maharashtra Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Sinarmas Energy and Mining - Indonesia
- Indonesian Coal Mining Association
- Manunggal Multi Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Essar Steel Hazira Ltd - India
- Marubeni Corporation - India
- Uttam Galva Steels Limited - India
- Sarangani Energy Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Parry Sugars Refinery, India
- Goldman Sachs - Singapore
- Coastal Gujarat Power Limited - India
- London Commodity Brokers - England
- Ind-Barath Power Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Cement Manufacturers Association - India
- Global Coal Blending Company Limited - Australia
- The State Trading Corporation of India Ltd
- Power Finance Corporation Ltd., India
- Siam City Cement PLC, Thailand
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