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Tuesday, 08 November 22
OUTLOOK ON CHINA’S WEAKENED BASIC MATERIALS SECTOR CLOUDED BY POLICY SWINGS - FITCH RATINGS
 Fitch Ratings expects basic materials demand in China to improve qoq in 4Q22, driven by seasonally higher construction activity, solid infrastructure investments and steady auto demand from supportive policies. However, a yoy decline is inevitable, while potential policy changes around Covid-19 pandemic restrictions and property developer funding may alter current expectations.
Basic materials demand remained weak in 3Q22, in line with our expectation. The weakness continued in July and August due to seasonally low demand. However, a recovery in September was driven by steady manufacturing investment and rising infrastructure activity, which offset lower property investment. Meanwhile, prolonged Covid-19 related restrictions continued to pressure demand.
Commodity prices decreased during 3Q22, while margin trends differed among sectors. Steel saw a sharp drop in the average selling price (ASP) to close to pre-pandemic levels, driven by a weak market and flow through from lower raw material prices. The margins of steel makers recovered to breakeven levels, from a loss-making position at end-2Q22, as iron ore and coking coal prices corrected.
Cement ASP declined over July-August due to seasonality and weak fundamentals, despite continued output cuts. The ASP recovered in September, but remained much lower on a yoy basis. Strong coal prices saw cement producers’ margins weaken, particularly in September, driven by the need to prepare for heating in winter and recovering demand in downstream sectors.
Source: Fitch Ratings
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Thursday, 25 January 24
THE RED SEA ESCALATION IMPLICATIONS ON GLOBAL SEABORNE TRADE - MARIA BERTZELETOU
In recent days, discussions have intensified about the potential impact on the seaborne trade and ton-miles due to the evolving dynamics of market ...
Thursday, 25 January 24
RED SEA SHIPPING DISRUPTIONS KEEP GEOPOLITICAL PREMIUM FOR COMMODITIES - FITCH RATINGS
Shipping disruptions and re-routing away from the Red Sea will maintain the geopolitical premium in the main commodity markets, including for oil a ...
Friday, 19 January 24
INDONESIA TARGETS 710 MLN METRIC TONS COAL OUTPUT IN 2024 AFTER RECORD 2023 - REUTERS
Indonesia, a major thermal coal exporter, aims to produce 710 million metric tons of coal in 2024, its mining minister said on Monday, after postin ...
Friday, 19 January 24
DRUMMOND COLOMBIA COAL OUTPUT ROSE 7.1% IN 2023 - REUTERS
Coal production from miner Drummond’s Colombia operations rose 7.1% in 2023 to 29.5 million metric tons, while exports declined by 2.6% to 27 ...
Friday, 19 January 24
CHINA'S 2023 COAL OUTPUT HITS RECORD HIGH - REUTERS
China’s coal output reached a record high in 2023, data from the statistics bureau showed on Wednesday, amid an ongoing focus on energy secur ...
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- Indo Tambangraya Megah - Indonesia
- Bayan Resources Tbk. - Indonesia
- MS Steel International - UAE
- Rashtriya Ispat Nigam Limited - India
- AsiaOL BioFuels Corp., Philippines
- Kepco SPC Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Bangladesh Power Developement Board
- Bukit Makmur.PT - Indonesia
- The University of Queensland
- Carbofer General Trading SA - India
- Eastern Energy - Thailand
- Sarangani Energy Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Australian Commodity Traders Exchange
- Antam Resourcindo - Indonesia
- SMC Global Power, Philippines
- European Bulk Services B.V. - Netherlands
- Chettinad Cement Corporation Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Medco Energi Mining Internasional
- Coastal Gujarat Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cement Manufacturers Association - India
- Timah Investasi Mineral - Indoneisa
- The State Trading Corporation of India Ltd
- Sakthi Sugars Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Meralco Power Generation, Philippines
- Georgia Ports Authority, United States
- Agrawal Coal Company - India
- Coalindo Energy - Indonesia
- Indian Energy Exchange, India
- Essar Steel Hazira Ltd - India
- Deloitte Consulting - India
- Pendopo Energi Batubara - Indonesia
- IEA Clean Coal Centre - UK
- Intertek Mineral Services - Indonesia
- PNOC Exploration Corporation - Philippines
- GMR Energy Limited - India
- Holcim Trading Pte Ltd - Singapore
- Mercator Lines Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Madhucon Powers Ltd - India
- Central Java Power - Indonesia
- Orica Mining Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Barasentosa Lestari - Indonesia
- Global Business Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Sindya Power Generating Company Private Ltd
- Dalmia Cement Bharat India
- White Energy Company Limited
- Standard Chartered Bank - UAE
- Trasteel International SA, Italy
- Oldendorff Carriers - Singapore
- Petron Corporation, Philippines
- Ministry of Mines - Canada
- Toyota Tsusho Corporation, Japan
- India Bulls Power Limited - India
- Anglo American - United Kingdom
- Kobexindo Tractors - Indoneisa
- ASAPP Information Group - India
- Indian Oil Corporation Limited
- Asmin Koalindo Tuhup - Indonesia
- Aditya Birla Group - India
- Singapore Mercantile Exchange
- Marubeni Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- International Coal Ventures Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Vedanta Resources Plc - India
- Bulk Trading Sa - Switzerland
- Therma Luzon, Inc, Philippines
- Indonesian Coal Mining Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sical Logistics Limited - India
- Kohat Cement Company Ltd. - Pakistan
- TeaM Sual Corporation - Philippines
- Indika Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Wilmar Investment Holdings
- Renaissance Capital - South Africa
- South Luzon Thermal Energy Corporation
- GAC Shipping (India) Pvt Ltd
- Ministry of Transport, Egypt
- Kartika Selabumi Mining - Indonesia
- SMG Consultants - Indonesia
- Port Waratah Coal Services - Australia
- Banpu Public Company Limited - Thailand
- ICICI Bank Limited - India
- Tamil Nadu electricity Board
- Merrill Lynch Commodities Europe
- LBH Netherlands Bv - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Goldman Sachs - Singapore
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement - Thailand
- McConnell Dowell - Australia
- Mintek Dendrill Indonesia
- Siam City Cement PLC, Thailand
- Orica Australia Pty. Ltd.
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Krishnapatnam Port Company Ltd. - India
- New Zealand Coal & Carbon
- Metalloyd Limited - United Kingdom
- Jindal Steel & Power Ltd - India
- Malabar Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Formosa Plastics Group - Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- London Commodity Brokers - England
- Straits Asia Resources Limited - Singapore
- Thiess Contractors Indonesia
- Sojitz Corporation - Japan
- Heidelberg Cement - Germany
- Simpson Spence & Young - Indonesia
- Jaiprakash Power Ventures ltd
- The Treasury - Australian Government
- Rio Tinto Coal - Australia
- Tata Chemicals Ltd - India
- Bharathi Cement Corporation - India
- Australian Coal Association
- Maharashtra Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Meenaskhi Energy Private Limited - India
- Commonwealth Bank - Australia
- Globalindo Alam Lestari - Indonesia
- Mjunction Services Limited - India
- Edison Trading Spa - Italy
- Posco Energy - South Korea
- CIMB Investment Bank - Malaysia
- Manunggal Multi Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- Makarim & Taira - Indonesia
- Eastern Coal Council - USA
- Altura Mining Limited, Indonesia
- Lanco Infratech Ltd - India
- Africa Commodities Group - South Africa
- Miang Besar Coal Terminal - Indonesia
- PTC India Limited - India
- Semirara Mining Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Xindia Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Aboitiz Power Corporation - Philippines
- Chamber of Mines of South Africa
- PowerSource Philippines DevCo
- Bhatia International Limited - India
- Ministry of Finance - Indonesia
- Latin American Coal - Colombia
- Electricity Authority, New Zealand
- CNBM International Corporation - China
- Neyveli Lignite Corporation Ltd, - India
- Thai Mozambique Logistica
- Salva Resources Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Vizag Seaport Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Kaltim Prima Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Planning Commission, India
- GVK Power & Infra Limited - India
- Videocon Industries ltd - India
- Ind-Barath Power Infra Limited - India
- Savvy Resources Ltd - HongKong
- Iligan Light & Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Directorate Of Revenue Intelligence - India
- San Jose City I Power Corp, Philippines
- Energy Link Ltd, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Attock Cement Pakistan Limited
- Bhoruka Overseas - Indonesia
- Central Electricity Authority - India
- VISA Power Limited - India
- Mercuria Energy - Indonesia
- Parliament of New Zealand
- Ambuja Cements Ltd - India
- Indogreen Group - Indonesia
- Coal and Oil Company - UAE
- Baramulti Group, Indonesia
- OPG Power Generation Pvt Ltd - India
- Star Paper Mills Limited - India
- Romanian Commodities Exchange
- SN Aboitiz Power Inc, Philippines
- Borneo Indobara - Indonesia
- Wood Mackenzie - Singapore
- Grasim Industreis Ltd - India
- Power Finance Corporation Ltd., India
- Independent Power Producers Association of India
- Karaikal Port Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Bahari Cakrawala Sebuku - Indonesia
- Minerals Council of Australia
- Electricity Generating Authority of Thailand
- Directorate General of MIneral and Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Leighton Contractors Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Cigading International Bulk Terminal - Indonesia
- Energy Development Corp, Philippines
- Parry Sugars Refinery, India
- Vijayanagar Sugar Pvt Ltd - India
- Economic Council, Georgia
- Sree Jayajothi Cements Limited - India
- Gujarat Sidhee Cement - India
- Bhushan Steel Limited - India
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