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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, 13 April 14
INDONESIA TO INDIA FREIGHT MARKET DECLINE CONTINUES
COALspot.com: The freight market continued to drop this week and BDI almost touched 1000 points. BDI closed at 1002 points fell 16.85 pct week o ...
Saturday, 12 April 14
HOW DO YOU CALCULATE LOSS OF EARNINGS FOLLOWING A COLLISION? - INCE & CO
KNOWLEDGE TO ELEVATE
The recent case of Astipalaia vs Hanjin Shenzhen [2014] EWHC 120 (Admlty) has revisited the existing case law on asses ...
Friday, 11 April 14
US COAL PRODUCTION IN MARCH INCREASED 9.69% TO 82.6 MMST MONTH ON MONTH
COALspot.com – United States the world's second largest coal producer, produced approximately 19.10 million short tons (mmst) of coal ...
Thursday, 10 April 14
DRY BULK MARKET IS RISING CLAIMS BIMCO - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Despite the recent fall of the Baltic Dry Index (BDI), when one compares the first quarter of 2014, to similar quarters of the recent past, it i ...
Wednesday, 09 April 14
DRY BULK MARKET STRUGGLED THROUGHOUT THE WEEK - INTERMODAL
The Dry Bulk market struggled throughout the week but the poor performance across the board didn't allow for any positive reversal, pushing ...
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- Romanian Commodities Exchange
- Global Business Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Mercuria Energy - Indonesia
- Attock Cement Pakistan Limited
- Toyota Tsusho Corporation, Japan
- PetroVietnam Power Coal Import and Supply Company
- India Bulls Power Limited - India
- Parliament of New Zealand
- Planning Commission, India
- Medco Energi Mining Internasional
- AsiaOL BioFuels Corp., Philippines
- Electricity Authority, New Zealand
- Wood Mackenzie - Singapore
- Independent Power Producers Association of India
- Aboitiz Power Corporation - Philippines
- Goldman Sachs - Singapore
- Kapuas Tunggal Persada - Indonesia
- Energy Development Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Java Power - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Baramulti Group, Indonesia
- Bharathi Cement Corporation - India
- Savvy Resources Ltd - HongKong
- Kaltim Prima Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- The University of Queensland
- Standard Chartered Bank - UAE
- Kohat Cement Company Ltd. - Pakistan
- European Bulk Services B.V. - Netherlands
- Larsen & Toubro Limited - India
- Binh Thuan Hamico - Vietnam
- Indonesian Coal Mining Association
- International Coal Ventures Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Mintek Dendrill Indonesia
- Borneo Indobara - Indonesia
- PowerSource Philippines DevCo
- Bahari Cakrawala Sebuku - Indonesia
- Cement Manufacturers Association - India
- Kalimantan Lumbung Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhoruka Overseas - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- PNOC Exploration Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Bhushan Steel Limited - India
- Anglo American - United Kingdom
- Renaissance Capital - South Africa
- Jaiprakash Power Ventures ltd
- The State Trading Corporation of India Ltd
- Essar Steel Hazira Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Central Electricity Authority - India
- Jindal Steel & Power Ltd - India
- Ind-Barath Power Infra Limited - India
- Coastal Gujarat Power Limited - India
- GVK Power & Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- GMR Energy Limited - India
- Ambuja Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- South Luzon Thermal Energy Corporation
- Kumho Petrochemical, South Korea
- Oldendorff Carriers - Singapore
- Sical Logistics Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Singapore Mercantile Exchange
- Bukit Baiduri Energy - Indonesia
- White Energy Company Limited
- Price Waterhouse Coopers - Russia
- Semirara Mining Corp, Philippines
- The Treasury - Australian Government
- Meenaskhi Energy Private Limited - India
- Kobexindo Tractors - Indoneisa
- Formosa Plastics Group - Taiwan
- Makarim & Taira - Indonesia
- Rio Tinto Coal - Australia
- Ministry of Transport, Egypt
- Indo Tambangraya Megah - Indonesia
- Parry Sugars Refinery, India
- CNBM International Corporation - China
- Orica Australia Pty. Ltd.
- Sinarmas Energy and Mining - Indonesia
- Coal and Oil Company - UAE
- Malabar Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Indian Energy Exchange, India
- Indogreen Group - Indonesia
- IHS Mccloskey Coal Group - USA
- Holcim Trading Pte Ltd - Singapore
- Alfred C Toepfer International GmbH - Germany
- Australian Commodity Traders Exchange
- Carbofer General Trading SA - India
- New Zealand Coal & Carbon
- Banpu Public Company Limited - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Global Coal Blending Company Limited - Australia
- Sakthi Sugars Limited - India
- Commonwealth Bank - Australia
- Jorong Barutama Greston.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- Xindia Steels Limited - India
- Vedanta Resources Plc - India
- Minerals Council of Australia
- Manunggal Multi Energi - Indonesia
- Altura Mining Limited, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- Thiess Contractors Indonesia
- Indika Energy - Indonesia
- IEA Clean Coal Centre - UK
- Uttam Galva Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Gujarat Sidhee Cement - India
- Sree Jayajothi Cements Limited - India
- Trasteel International SA, Italy
- Leighton Contractors Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Marubeni Corporation - India
- Metalloyd Limited - United Kingdom
- Tamil Nadu electricity Board
- SMC Global Power, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Madhucon Powers Ltd - India
- Siam City Cement PLC, Thailand
- Port Waratah Coal Services - Australia
- Edison Trading Spa - Italy
- Merrill Lynch Commodities Europe
- Deloitte Consulting - India
- Orica Mining Services - Indonesia
- Australian Coal Association
- GAC Shipping (India) Pvt Ltd
- Rashtriya Ispat Nigam Limited - India
- Electricity Generating Authority of Thailand
- Posco Energy - South Korea
- Eastern Energy - Thailand
- Meralco Power Generation, Philippines
- Chamber of Mines of South Africa
- Bangladesh Power Developement Board
- Sindya Power Generating Company Private Ltd
- Ministry of Finance - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Heidelberg Cement - Germany
- Dalmia Cement Bharat India
- Sarangani Energy Corporation, Philippines
- Petron Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Energy Link Ltd, New Zealand
- Aditya Birla Group - India
- Simpson Spence & Young - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- London Commodity Brokers - England
- Ministry of Mines - Canada
- ICICI Bank Limited - India
- Latin American Coal - Colombia
- Bayan Resources Tbk. - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Straits Asia Resources Limited - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercator Lines Limited - India
- Semirara Mining and Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- McConnell Dowell - Australia
- Vizag Seaport Private Limited - India
- Antam Resourcindo - Indonesia
- SMG Consultants - Indonesia
- Star Paper Mills Limited - India
- Barasentosa Lestari - Indonesia
- Africa Commodities Group - South Africa
- Indian Oil Corporation Limited
- Gujarat Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- PTC India Limited - India
- Grasim Industreis Ltd - India
- Videocon Industries ltd - India
- Bhatia International Limited - India
- Krishnapatnam Port Company Ltd. - India
- MS Steel International - UAE
- Bulk Trading Sa - Switzerland
- Lanco Infratech Ltd - India
- VISA Power Limited - India
- Economic Council, Georgia
- Eastern Coal Council - USA
- Thai Mozambique Logistica
- Timah Investasi Mineral - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Georgia Ports Authority, United States
- Kepco SPC Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Siam City Cement - Thailand
- Sojitz Corporation - Japan
- ASAPP Information Group - India
- SN Aboitiz Power Inc, Philippines
- Interocean Group of Companies - India
- Coalindo Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wilmar Investment Holdings
- Miang Besar Coal Terminal - Indonesia
- Agrawal Coal Company - India
- TNB Fuel Sdn Bhd - Malaysia
- Tata Chemicals Ltd - India
- Mjunction Services Limited - India
- LBH Netherlands Bv - Netherlands
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