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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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Sunday, 20 April 14
FREIGHT RATES END WEEK ON WEAK NOTE - VISTAAR
Wish you all Happy Easter.
The freight market continued to its downwards as BDI was fell 7.187 percent to 930 points week on week.
The ...
Friday, 18 April 14
US WEEKLY COAL PRODUCTION DECLINED BY 1% TO 18.9 MMST
COALspot.com – United States the world's second largest coal producer, produced approximately 18.9 million short tons (mmst) of coal i ...
Thursday, 17 April 14
DRY BULK MARKET ON RETREAT MODE, WHILE NEWBUILDING ORDERING ACTIVITY STALLS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has kept on retreating this week, a pattern which emerged since late March. Yesterday the BDI (Baltic Dry Index) ended yet a ...
Wednesday, 16 April 14
INDONESIA'S FEBRUARY 2014 COAL EXPORT VOLUME FELL 2.41%
COALspot.com: Indonesia, the world 4th largest coal producer and the global largest multi grade coal exporter shipped around $1.77* billio ...
Wednesday, 16 April 14
Q1 2014 : TERMS OF FREIGHT RATES THE PERFORMANCE IN THE DRY BULK MARKET HAS NOT MET THE HIGH EXPECTATIONS - INTERMODAL
This year the dates for the celebration of Easter will coincide for the Orthodox and the Catholic, so we are already seeing most people in the m ...
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- Lanco Infratech Ltd - India
- Samtan Co., Ltd - South Korea
- Kepco SPC Power Corporation, Philippines
- Malabar Cements Ltd - India
- IEA Clean Coal Centre - UK
- Offshore Bulk Terminal Pte Ltd, Singapore
- Heidelberg Cement - Germany
- Standard Chartered Bank - UAE
- Renaissance Capital - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Sakthi Sugars Limited - India
- Sindya Power Generating Company Private Ltd
- Indian Energy Exchange, India
- Independent Power Producers Association of India
- Larsen & Toubro Limited - India
- Georgia Ports Authority, United States
- Riau Bara Harum - Indonesia
- Australian Commodity Traders Exchange
- Uttam Galva Steels Limited - India
- Wood Mackenzie - Singapore
- Billiton Holdings Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Xindia Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Ministry of Transport, Egypt
- White Energy Company Limited
- Orica Mining Services - Indonesia
- Metalloyd Limited - United Kingdom
- Indonesian Coal Mining Association
- Sinarmas Energy and Mining - Indonesia
- Deloitte Consulting - India
- Siam City Cement - Thailand
- Vedanta Resources Plc - India
- Essar Steel Hazira Ltd - India
- Globalindo Alam Lestari - Indonesia
- Eastern Energy - Thailand
- Oldendorff Carriers - Singapore
- Cement Manufacturers Association - India
- Mjunction Services Limited - India
- Barasentosa Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Makarim & Taira - Indonesia
- Therma Luzon, Inc, Philippines
- Edison Trading Spa - Italy
- Bhushan Steel Limited - India
- Global Coal Blending Company Limited - Australia
- Leighton Contractors Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- Agrawal Coal Company - India
- Mintek Dendrill Indonesia
- European Bulk Services B.V. - Netherlands
- Commonwealth Bank - Australia
- Kohat Cement Company Ltd. - Pakistan
- Latin American Coal - Colombia
- Electricity Authority, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Borneo Indobara - Indonesia
- PowerSource Philippines DevCo
- Sarangani Energy Corporation, Philippines
- Kumho Petrochemical, South Korea
- Interocean Group of Companies - India
- Intertek Mineral Services - Indonesia
- Siam City Cement PLC, Thailand
- Bukit Baiduri Energy - Indonesia
- TeaM Sual Corporation - Philippines
- ASAPP Information Group - India
- Coalindo Energy - Indonesia
- Ambuja Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Karaikal Port Pvt Ltd - India
- The Treasury - Australian Government
- Simpson Spence & Young - Indonesia
- Bangladesh Power Developement Board
- GAC Shipping (India) Pvt Ltd
- Coastal Gujarat Power Limited - India
- Maheswari Brothers Coal Limited - India
- Bukit Makmur.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Salva Resources Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Kartika Selabumi Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Tata Chemicals Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- CNBM International Corporation - China
- Trasteel International SA, Italy
- Global Green Power PLC Corporation, Philippines
- Goldman Sachs - Singapore
- Minerals Council of Australia
- Global Business Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Rio Tinto Coal - Australia
- Energy Link Ltd, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Altura Mining Limited, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Singapore Mercantile Exchange
- Merrill Lynch Commodities Europe
- Thiess Contractors Indonesia
- GVK Power & Infra Limited - India
- Banpu Public Company Limited - Thailand
- LBH Netherlands Bv - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Central Java Power - Indonesia
- Posco Energy - South Korea
- ICICI Bank Limited - India
- Ministry of Mines - Canada
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Electricity Generating Authority of Thailand
- Directorate General of MIneral and Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- VISA Power Limited - India
- SMG Consultants - Indonesia
- PTC India Limited - India
- Orica Australia Pty. Ltd.
- Petron Corporation, Philippines
- Attock Cement Pakistan Limited
- Ministry of Finance - Indonesia
- Straits Asia Resources Limited - Singapore
- Eastern Coal Council - USA
- Marubeni Corporation - India
- PNOC Exploration Corporation - Philippines
- Videocon Industries ltd - India
- Krishnapatnam Port Company Ltd. - India
- Chettinad Cement Corporation Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Asmin Koalindo Tuhup - Indonesia
- OPG Power Generation Pvt Ltd - India
- Africa Commodities Group - South Africa
- Indo Tambangraya Megah - Indonesia
- Bayan Resources Tbk. - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Australian Coal Association
- Iligan Light & Power Inc, Philippines
- McConnell Dowell - Australia
- Antam Resourcindo - Indonesia
- Aditya Birla Group - India
- Wilmar Investment Holdings
- Karbindo Abesyapradhi - Indoneisa
- MS Steel International - UAE
- Central Electricity Authority - India
- London Commodity Brokers - England
- Jaiprakash Power Ventures ltd
- Grasim Industreis Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- India Bulls Power Limited - India
- Sojitz Corporation - Japan
- Mercator Lines Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ceylon Electricity Board - Sri Lanka
- Madhucon Powers Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Meralco Power Generation, Philippines
- Manunggal Multi Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Timah Investasi Mineral - Indoneisa
- Indian Oil Corporation Limited
- Sical Logistics Limited - India
- Energy Development Corp, Philippines
- Parry Sugars Refinery, India
- Kalimantan Lumbung Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Thai Mozambique Logistica
- Parliament of New Zealand
- Jindal Steel & Power Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- Bhatia International Limited - India
- Indogreen Group - Indonesia
- Indika Energy - Indonesia
- Gujarat Sidhee Cement - India
- Coal and Oil Company - UAE
- Romanian Commodities Exchange
- The University of Queensland
- Chamber of Mines of South Africa
- SMC Global Power, Philippines
- Cigading International Bulk Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Dalmia Cement Bharat India
- Aboitiz Power Corporation - Philippines
- GMR Energy Limited - India
- International Coal Ventures Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- South Luzon Thermal Energy Corporation
- Anglo American - United Kingdom
- Meenaskhi Energy Private Limited - India
- Kobexindo Tractors - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- The State Trading Corporation of India Ltd
- Savvy Resources Ltd - HongKong
- Baramulti Group, Indonesia
- Ind-Barath Power Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Medco Energi Mining Internasional
- Star Paper Mills Limited - India
- Mercuria Energy - Indonesia
- Port Waratah Coal Services - Australia
- New Zealand Coal & Carbon
- Carbofer General Trading SA - India
- Economic Council, Georgia
- Vizag Seaport Private Limited - India
- Planning Commission, India
- IHS Mccloskey Coal Group - USA
- Pendopo Energi Batubara - Indonesia
- Tamil Nadu electricity Board
- Formosa Plastics Group - Taiwan
- Petrochimia International Co. Ltd.- Taiwan
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