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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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Monday, 19 September 22
BUMA AUSTRALIA AWARDED A$400 MILLION CONTRACT EXTENSION BY BMA FOR GOONYELLA PROJECT
Press Release – PT Delta Dunia Makmur Tbk. (the "Company") announced that its subsidiary, PT Bukit Makmur Mandiri Utama ("BUMA ...
Saturday, 17 September 22
CHINA WARNS COAL COMPANIES AGAINST DUAL CONTRACTS, KEEP PRICES STABLE - REUTERS
China’s state economic planner warned coal companies operating at ports in the Bohai Bay region to comply with their long-term contracts to k ...
Saturday, 17 September 22
IS A GLOBAL RECESSION IMMINENT? - WORLD BANK
Since the beginning of the year, a rapid deterioration of growth prospects coupled with rising inflation and tightening financing conditions, has i ...
Saturday, 17 September 22
FITCH RATINGS REVISES GLOBAL METALS & MINING PRICE ASSUMPTIONS
Fitch Ratings has revised its metals and mining price assumptions reflecting evolving economic growth expectations and demand and supply dynamics.
...
Friday, 16 September 22
WHEN IS A VESSEL'S INCOME EARNING CAPACITY AT RISK? 'CONTROLLED INCOME CAN BE A KEY OF SUCCESS' - MARASCO MARINE
Managing marine risks is not an easy task, which requires special knowledge and expertise on the subject per se. Customarily, big ship management c ...
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- Vizag Seaport Private Limited - India
- Romanian Commodities Exchange
- Mercuria Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Wood Mackenzie - Singapore
- Kaltim Prima Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Siam City Cement PLC, Thailand
- Pendopo Energi Batubara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Mjunction Services Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- White Energy Company Limited
- Jaiprakash Power Ventures ltd
- Binh Thuan Hamico - Vietnam
- South Luzon Thermal Energy Corporation
- Indo Tambangraya Megah - Indonesia
- Directorate Of Revenue Intelligence - India
- Anglo American - United Kingdom
- Straits Asia Resources Limited - Singapore
- Ministry of Transport, Egypt
- Borneo Indobara - Indonesia
- Economic Council, Georgia
- Indian Oil Corporation Limited
- Meenaskhi Energy Private Limited - India
- Trasteel International SA, Italy
- Grasim Industreis Ltd - India
- Sree Jayajothi Cements Limited - India
- McConnell Dowell - Australia
- Bhatia International Limited - India
- Eastern Energy - Thailand
- CNBM International Corporation - China
- ASAPP Information Group - India
- Salva Resources Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Mintek Dendrill Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercator Lines Limited - India
- OPG Power Generation Pvt Ltd - India
- Indonesian Coal Mining Association
- Maheswari Brothers Coal Limited - India
- Carbofer General Trading SA - India
- International Coal Ventures Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coal and Oil Company - UAE
- Thiess Contractors Indonesia
- Holcim Trading Pte Ltd - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Ambuja Cements Ltd - India
- Central Java Power - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Chamber of Mines of South Africa
- Malabar Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining Corp, Philippines
- Indian Energy Exchange, India
- SMG Consultants - Indonesia
- Deloitte Consulting - India
- Oldendorff Carriers - Singapore
- Attock Cement Pakistan Limited
- IHS Mccloskey Coal Group - USA
- Ministry of Finance - Indonesia
- Sojitz Corporation - Japan
- New Zealand Coal & Carbon
- Globalindo Alam Lestari - Indonesia
- Power Finance Corporation Ltd., India
- Global Business Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- The State Trading Corporation of India Ltd
- Intertek Mineral Services - Indonesia
- India Bulls Power Limited - India
- Larsen & Toubro Limited - India
- Iligan Light & Power Inc, Philippines
- Interocean Group of Companies - India
- GVK Power & Infra Limited - India
- Cement Manufacturers Association - India
- Rio Tinto Coal - Australia
- Xindia Steels Limited - India
- Bhoruka Overseas - Indonesia
- Australian Coal Association
- Uttam Galva Steels Limited - India
- Bangladesh Power Developement Board
- Renaissance Capital - South Africa
- Bharathi Cement Corporation - India
- Siam City Cement - Thailand
- Altura Mining Limited, Indonesia
- Manunggal Multi Energi - Indonesia
- Heidelberg Cement - Germany
- Billiton Holdings Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Sindya Power Generating Company Private Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Videocon Industries ltd - India
- Singapore Mercantile Exchange
- Kideco Jaya Agung - Indonesia
- Bukit Baiduri Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Aboitiz Power Corporation - Philippines
- Metalloyd Limited - United Kingdom
- GAC Shipping (India) Pvt Ltd
- CIMB Investment Bank - Malaysia
- Kumho Petrochemical, South Korea
- Antam Resourcindo - Indonesia
- PowerSource Philippines DevCo
- Ministry of Mines - Canada
- MS Steel International - UAE
- Thai Mozambique Logistica
- Africa Commodities Group - South Africa
- Tamil Nadu electricity Board
- GN Power Mariveles Coal Plant, Philippines
- Bulk Trading Sa - Switzerland
- Karaikal Port Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Riau Bara Harum - Indonesia
- Global Green Power PLC Corporation, Philippines
- Vedanta Resources Plc - India
- Agrawal Coal Company - India
- ICICI Bank Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Bhushan Steel Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Sidhee Cement - India
- London Commodity Brokers - England
- Coalindo Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Banpu Public Company Limited - Thailand
- GMR Energy Limited - India
- Cigading International Bulk Terminal - Indonesia
- Energy Development Corp, Philippines
- Medco Energi Mining Internasional
- PTC India Limited - India
- Coastal Gujarat Power Limited - India
- Aditya Birla Group - India
- Star Paper Mills Limited - India
- AsiaOL BioFuels Corp., Philippines
- Ind-Barath Power Infra Limited - India
- VISA Power Limited - India
- Latin American Coal - Colombia
- PetroVietnam Power Coal Import and Supply Company
- Lanco Infratech Ltd - India
- Baramulti Group, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Goldman Sachs - Singapore
- Savvy Resources Ltd - HongKong
- Karbindo Abesyapradhi - Indoneisa
- Global Coal Blending Company Limited - Australia
- Standard Chartered Bank - UAE
- Electricity Authority, New Zealand
- Wilmar Investment Holdings
- Planning Commission, India
- Rashtriya Ispat Nigam Limited - India
- Simpson Spence & Young - Indonesia
- San Jose City I Power Corp, Philippines
- Port Waratah Coal Services - Australia
- Barasentosa Lestari - Indonesia
- The Treasury - Australian Government
- SMC Global Power, Philippines
- Price Waterhouse Coopers - Russia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Sakthi Sugars Limited - India
- The University of Queensland
- Sical Logistics Limited - India
- Electricity Generating Authority of Thailand
- Parry Sugars Refinery, India
- Independent Power Producers Association of India
- LBH Netherlands Bv - Netherlands
- Edison Trading Spa - Italy
- Indogreen Group - Indonesia
- Samtan Co., Ltd - South Korea
- Orica Mining Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Indika Energy - Indonesia
- Therma Luzon, Inc, Philippines
- TeaM Sual Corporation - Philippines
- Georgia Ports Authority, United States
- Jindal Steel & Power Ltd - India
- SN Aboitiz Power Inc, Philippines
- Madhucon Powers Ltd - India
- Commonwealth Bank - Australia
- Central Electricity Authority - India
- Australian Commodity Traders Exchange
- Kohat Cement Company Ltd. - Pakistan
- Toyota Tsusho Corporation, Japan
- IEA Clean Coal Centre - UK
- Dalmia Cement Bharat India
- Asmin Koalindo Tuhup - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- Posco Energy - South Korea
- Semirara Mining and Power Corporation, Philippines
- Petron Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Minerals Council of Australia
- Makarim & Taira - Indonesia
- Tata Chemicals Ltd - India
- Kepco SPC Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Eastern Coal Council - USA
- Marubeni Corporation - India
- Essar Steel Hazira Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parliament of New Zealand
- Energy Link Ltd, New Zealand
- Bukit Makmur.PT - Indonesia
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