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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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Tuesday, 13 February 24
WHAT IS THE OUTLOOK FOR THE NATURAL GAS SPOT PRICE IN 2024 AND 2025? EIA
We expect the U.S. benchmark Henry Hub natural gas spot price to average higher in 2024 and 2025 than in 2023, but to remain lower than $3.00 per m ...
Monday, 12 February 24
US THERMAL COAL EXPORTS HIT 5-YEAR HIGHS AND TOP $5 BLN IN 2023 - REUTERS
United States exporters of thermal coal earned more than $5 billion in 2023 as they shipped out more than 32.5 million metric tons of the high-poll ...
Tuesday, 06 February 24
NEW E-FUELS PROJECT TO MAKE INTERNATIONAL SHIPPING CLIMATE-NEUTRAL - RINA
Transport and trade on the ocean blue must be made much greener. This is the goal of the new €17 million European GAMMA project, where compani ...
Tuesday, 06 February 24
INDIA SEES ANNUAL COAL OUTPUT UP 10.9% IN 2024/25 - REUTERS
India expects domestic coal output to increase by 10.9% to 1.13 billion metric tons in the fiscal year ending March 2025, a senior government offic ...
Tuesday, 06 February 24
INDIA'S COAL PRODUCTION INCREASES BY 10.3% TO 99.73 MILLION TONNE IN JANUARY - PTI
The country’s coal output rose 10.3 per cent to 99.73 Million Tonne (MT) in January, over the same month in the previous fiscal.
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- PNOC Exploration Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- VISA Power Limited - India
- Formosa Plastics Group - Taiwan
- The Treasury - Australian Government
- Global Coal Blending Company Limited - Australia
- Bharathi Cement Corporation - India
- Anglo American - United Kingdom
- Borneo Indobara - Indonesia
- Jindal Steel & Power Ltd - India
- Savvy Resources Ltd - HongKong
- Barasentosa Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- SMC Global Power, Philippines
- Deloitte Consulting - India
- Salva Resources Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- PowerSource Philippines DevCo
- Australian Coal Association
- Indian Energy Exchange, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Bhatia International Limited - India
- Minerals Council of Australia
- Indian Oil Corporation Limited
- Kaltim Prima Coal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Sinarmas Energy and Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Siam City Cement - Thailand
- Power Finance Corporation Ltd., India
- Vijayanagar Sugar Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Medco Energi Mining Internasional
- Bukit Baiduri Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Timah Investasi Mineral - Indoneisa
- Iligan Light & Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Uttam Galva Steels Limited - India
- Marubeni Corporation - India
- Star Paper Mills Limited - India
- Vizag Seaport Private Limited - India
- MS Steel International - UAE
- SN Aboitiz Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Sakthi Sugars Limited - India
- GAC Shipping (India) Pvt Ltd
- Edison Trading Spa - Italy
- Carbofer General Trading SA - India
- Coalindo Energy - Indonesia
- Posco Energy - South Korea
- Renaissance Capital - South Africa
- Romanian Commodities Exchange
- Maharashtra Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- Thiess Contractors Indonesia
- Planning Commission, India
- Gujarat Sidhee Cement - India
- Electricity Authority, New Zealand
- London Commodity Brokers - England
- Semirara Mining Corp, Philippines
- Aditya Birla Group - India
- Kumho Petrochemical, South Korea
- LBH Netherlands Bv - Netherlands
- Mercator Lines Limited - India
- Aboitiz Power Corporation - Philippines
- Mintek Dendrill Indonesia
- Coal and Oil Company - UAE
- Chettinad Cement Corporation Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- New Zealand Coal & Carbon
- Tata Chemicals Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Indika Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sarangani Energy Corporation, Philippines
- Energy Development Corp, Philippines
- Central Electricity Authority - India
- Energy Link Ltd, New Zealand
- Cement Manufacturers Association - India
- Ministry of Mines - Canada
- White Energy Company Limited
- Altura Mining Limited, Indonesia
- The State Trading Corporation of India Ltd
- Meenaskhi Energy Private Limited - India
- Makarim & Taira - Indonesia
- Tamil Nadu electricity Board
- GMR Energy Limited - India
- Bhushan Steel Limited - India
- Antam Resourcindo - Indonesia
- Ind-Barath Power Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Global Green Power PLC Corporation, Philippines
- Attock Cement Pakistan Limited
- Riau Bara Harum - Indonesia
- Price Waterhouse Coopers - Russia
- CIMB Investment Bank - Malaysia
- Dalmia Cement Bharat India
- Africa Commodities Group - South Africa
- Intertek Mineral Services - Indonesia
- Agrawal Coal Company - India
- Karaikal Port Pvt Ltd - India
- Wood Mackenzie - Singapore
- Sree Jayajothi Cements Limited - India
- Rio Tinto Coal - Australia
- Thai Mozambique Logistica
- AsiaOL BioFuels Corp., Philippines
- Jaiprakash Power Ventures ltd
- Grasim Industreis Ltd - India
- Coastal Gujarat Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Heidelberg Cement - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining and Power Corporation, Philippines
- Parry Sugars Refinery, India
- Ministry of Finance - Indonesia
- Bhoruka Overseas - Indonesia
- Sojitz Corporation - Japan
- TeaM Sual Corporation - Philippines
- Eastern Coal Council - USA
- Eastern Energy - Thailand
- PTC India Limited - India
- Alfred C Toepfer International GmbH - Germany
- Larsen & Toubro Limited - India
- India Bulls Power Limited - India
- The University of Queensland
- Goldman Sachs - Singapore
- South Luzon Thermal Energy Corporation
- Orica Australia Pty. Ltd.
- SMG Consultants - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Ministry of Transport, Egypt
- Metalloyd Limited - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Malabar Cements Ltd - India
- Siam City Cement PLC, Thailand
- GVK Power & Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Meralco Power Generation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Merrill Lynch Commodities Europe
- Trasteel International SA, Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Oldendorff Carriers - Singapore
- Indonesian Coal Mining Association
- Samtan Co., Ltd - South Korea
- Indo Tambangraya Megah - Indonesia
- Independent Power Producers Association of India
- Kobexindo Tractors - Indoneisa
- Chamber of Mines of South Africa
- ASAPP Information Group - India
- Toyota Tsusho Corporation, Japan
- San Jose City I Power Corp, Philippines
- Economic Council, Georgia
- Gujarat Mineral Development Corp Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Global Business Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Maheswari Brothers Coal Limited - India
- Petron Corporation, Philippines
- Electricity Generating Authority of Thailand
- Banpu Public Company Limited - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Bangladesh Power Developement Board
- Singapore Mercantile Exchange
- Binh Thuan Hamico - Vietnam
- Parliament of New Zealand
- Orica Mining Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Java Power - Indonesia
- Simpson Spence & Young - Indonesia
- Commonwealth Bank - Australia
- Ceylon Electricity Board - Sri Lanka
- CNBM International Corporation - China
- Kalimantan Lumbung Energi - Indonesia
- Madhucon Powers Ltd - India
- IHS Mccloskey Coal Group - USA
- Kepco SPC Power Corporation, Philippines
- ICICI Bank Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Wilmar Investment Holdings
- Sical Logistics Limited - India
- Manunggal Multi Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Cigading International Bulk Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Port Waratah Coal Services - Australia
- Mjunction Services Limited - India
- Baramulti Group, Indonesia
- Vedanta Resources Plc - India
- Lanco Infratech Ltd - India
- Bayan Resources Tbk. - Indonesia
- Interocean Group of Companies - India
- Mercuria Energy - Indonesia
- Xindia Steels Limited - India
- Latin American Coal - Colombia
- Bukit Asam (Persero) Tbk - Indonesia
- Georgia Ports Authority, United States
- Australian Commodity Traders Exchange
- Ambuja Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Videocon Industries ltd - India
- Jorong Barutama Greston.PT - Indonesia
- McConnell Dowell - Australia
- Essar Steel Hazira Ltd - India
- Kideco Jaya Agung - Indonesia
- Standard Chartered Bank - UAE
- Indogreen Group - Indonesia
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