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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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Wednesday, 19 October 22
MARKET INSIGHT - INTERMODAL
The LNG market remains extremely tight, and as a result adding further pressure on the vessel charter market, which is already stretched due to the ...
Sunday, 16 October 22
COULD A RETURN TO SHALE EXPLORATION BE PART OF THE SOLUTION TO EUROPE'S GAS SUPPLY PROBLEM? - WOOD MACKENZIE
The European gas market is in turmoil. Russia’s invasion of Ukraine has shaken things up, triggering a complete rethink of European energy st ...
Thursday, 13 October 22
THERMAL COAL PRICES RETREAT AS WINTER SUPPLY FEARS EASE - REUTERS
The prices of key thermal seaborne coal grades are retreating amid signs that supplies will be sufficient to meet winter demand in both Europe and ...
Thursday, 13 October 22
SPOT COAL BIDDING: CHINESE FIRM WANTS REVISED MECHANISM - BUSINESS RECORDER
Chinese company M/s Huaneng Shandong Ruyi (Pakistan) Energy Limited (HSR) has cautioned National Electric Power Regulatory Authority (Nepra) that i ...
Thursday, 13 October 22
OPEC DOWNGRADES CRUDE OIL DEMAND, AS WORLD ECONOMY ENTERS SLOWDOWN
Crude Oil Price Movements
The OPEC Reference Basket (ORB) declined m-o-m by $6.58 in September, or 6.5%, to average $95.32/b. Pressure from equ ...
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- Riau Bara Harum - Indonesia
- Central Java Power - Indonesia
- Sindya Power Generating Company Private Ltd
- Deloitte Consulting - India
- Billiton Holdings Pty Ltd - Australia
- Rio Tinto Coal - Australia
- Bangladesh Power Developement Board
- Savvy Resources Ltd - HongKong
- Medco Energi Mining Internasional
- Coal and Oil Company - UAE
- LBH Netherlands Bv - Netherlands
- Semirara Mining Corp, Philippines
- Wilmar Investment Holdings
- Kumho Petrochemical, South Korea
- Bulk Trading Sa - Switzerland
- Commonwealth Bank - Australia
- Anglo American - United Kingdom
- Australian Coal Association
- Global Green Power PLC Corporation, Philippines
- Agrawal Coal Company - India
- Tata Chemicals Ltd - India
- Parry Sugars Refinery, India
- The University of Queensland
- Barasentosa Lestari - Indonesia
- Heidelberg Cement - Germany
- Banpu Public Company Limited - Thailand
- Edison Trading Spa - Italy
- South Luzon Thermal Energy Corporation
- Port Waratah Coal Services - Australia
- GVK Power & Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Goldman Sachs - Singapore
- European Bulk Services B.V. - Netherlands
- Kaltim Prima Coal - Indonesia
- Independent Power Producers Association of India
- Bharathi Cement Corporation - India
- Eastern Energy - Thailand
- Economic Council, Georgia
- Attock Cement Pakistan Limited
- Toyota Tsusho Corporation, Japan
- Meenaskhi Energy Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sarangani Energy Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Binh Thuan Hamico - Vietnam
- VISA Power Limited - India
- Uttam Galva Steels Limited - India
- ICICI Bank Limited - India
- Lanco Infratech Ltd - India
- Trasteel International SA, Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Alfred C Toepfer International GmbH - Germany
- Chamber of Mines of South Africa
- Semirara Mining and Power Corporation, Philippines
- The Treasury - Australian Government
- Ambuja Cements Ltd - India
- Marubeni Corporation - India
- Pendopo Energi Batubara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- SN Aboitiz Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- TeaM Sual Corporation - Philippines
- Merrill Lynch Commodities Europe
- Kalimantan Lumbung Energi - Indonesia
- Minerals Council of Australia
- Ministry of Transport, Egypt
- Borneo Indobara - Indonesia
- CNBM International Corporation - China
- Indian Energy Exchange, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement PLC, Thailand
- Tamil Nadu electricity Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- Samtan Co., Ltd - South Korea
- Oldendorff Carriers - Singapore
- Mercator Lines Limited - India
- Africa Commodities Group - South Africa
- Price Waterhouse Coopers - Russia
- Ministry of Finance - Indonesia
- Makarim & Taira - Indonesia
- Wood Mackenzie - Singapore
- Holcim Trading Pte Ltd - Singapore
- Sical Logistics Limited - India
- Directorate Of Revenue Intelligence - India
- PNOC Exploration Corporation - Philippines
- Baramulti Group, Indonesia
- International Coal Ventures Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- McConnell Dowell - Australia
- Asmin Koalindo Tuhup - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Singapore Mercantile Exchange
- Coalindo Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Posco Energy - South Korea
- Maheswari Brothers Coal Limited - India
- MS Steel International - UAE
- Madhucon Powers Ltd - India
- Straits Asia Resources Limited - Singapore
- Indonesian Coal Mining Association
- Meralco Power Generation, Philippines
- Global Coal Blending Company Limited - Australia
- Bukit Baiduri Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- Global Business Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Larsen & Toubro Limited - India
- Gujarat Sidhee Cement - India
- Thiess Contractors Indonesia
- Videocon Industries ltd - India
- Planning Commission, India
- India Bulls Power Limited - India
- Orica Australia Pty. Ltd.
- Vizag Seaport Private Limited - India
- Sakthi Sugars Limited - India
- Malabar Cements Ltd - India
- Interocean Group of Companies - India
- Ministry of Mines - Canada
- Indika Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Latin American Coal - Colombia
- Georgia Ports Authority, United States
- Chettinad Cement Corporation Ltd - India
- Metalloyd Limited - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Sojitz Corporation - Japan
- Karaikal Port Pvt Ltd - India
- Grasim Industreis Ltd - India
- Xindia Steels Limited - India
- PTC India Limited - India
- Aditya Birla Group - India
- Power Finance Corporation Ltd., India
- New Zealand Coal & Carbon
- Bhatia International Limited - India
- Energy Link Ltd, New Zealand
- CIMB Investment Bank - Malaysia
- London Commodity Brokers - England
- GN Power Mariveles Coal Plant, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Australian Commodity Traders Exchange
- Gujarat Mineral Development Corp Ltd - India
- Central Electricity Authority - India
- Cigading International Bulk Terminal - Indonesia
- Electricity Authority, New Zealand
- Kobexindo Tractors - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Timah Investasi Mineral - Indoneisa
- Indian Oil Corporation Limited
- Standard Chartered Bank - UAE
- IHS Mccloskey Coal Group - USA
- Jorong Barutama Greston.PT - Indonesia
- IEA Clean Coal Centre - UK
- Romanian Commodities Exchange
- Star Paper Mills Limited - India
- White Energy Company Limited
- Carbofer General Trading SA - India
- Electricity Generating Authority of Thailand
- Energy Development Corp, Philippines
- Bhoruka Overseas - Indonesia
- Parliament of New Zealand
- Sree Jayajothi Cements Limited - India
- Siam City Cement - Thailand
- Kideco Jaya Agung - Indonesia
- Indogreen Group - Indonesia
- PowerSource Philippines DevCo
- SMG Consultants - Indonesia
- Simpson Spence & Young - Indonesia
- Globalindo Alam Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Dalmia Cement Bharat India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Therma Luzon, Inc, Philippines
- GMR Energy Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Jaiprakash Power Ventures ltd
- Petron Corporation, Philippines
- Antam Resourcindo - Indonesia
- San Jose City I Power Corp, Philippines
- Cement Manufacturers Association - India
- Jindal Steel & Power Ltd - India
- Bhushan Steel Limited - India
- Essar Steel Hazira Ltd - India
- Mintek Dendrill Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Vedanta Resources Plc - India
- AsiaOL BioFuels Corp., Philippines
- Altura Mining Limited, Indonesia
- Orica Mining Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- ASAPP Information Group - India
- SMC Global Power, Philippines
- Formosa Plastics Group - Taiwan
- Sinarmas Energy and Mining - Indonesia
- Mercuria Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Thai Mozambique Logistica
- Miang Besar Coal Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Eastern Coal Council - USA
- Mjunction Services Limited - India
- Coastal Gujarat Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Renaissance Capital - South Africa
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