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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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Friday, 22 April 16
U.S WEEKLY DOMESTIC COAL OUTPUT UP 8.2 PER CENT - EIA
COALspot.com – U.S the world’s second largest coal producer has produced approximately totaled an estimated 11.1 million short tons (mm ...
Thursday, 21 April 16
PANAMAX: A VERY HEALTHY NORTH ATLANTIC FOR BOTH ROUNDS AND FRONTHAUL
Capesize
Correcting after last week's quadrupling.
This year's highest daily average of USD 8000 came on the back of substantial pro ...
Wednesday, 20 April 16
2017 IS EXPECTED TO BE A MUCH BETTER YEAR FOR THE SHIPPING INDUSTRY - INTERMODAL
Some months ago we noted that all projections anticipated 2016 to be a better year from a macroeconomic point of view when compared to 2015. As we ...
Tuesday, 19 April 16
STARS STILL SHINING? KEY IMPORTERS THROUGH THE TELESCOPE - CLARKSONS
As the pace of growth in Chinese seaborne imports has slowed, and prospects for a return to stronger rates of expansion appear to have diminished, ...
Monday, 18 April 16
INDONESIAN 5000 GAR COAL INDEX DECLINE 1.43 PERCENT WEEK OVER WEEK - CS (I) COAL INDEX
COALspot.com: Average 5000 GAR coal index of Indonesian origin fell 1.43 percent week over week to averaging $38.65 per ton on this past Friday, ac ...
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- Kohat Cement Company Ltd. - Pakistan
- Energy Link Ltd, New Zealand
- Heidelberg Cement - Germany
- Posco Energy - South Korea
- Star Paper Mills Limited - India
- Bangladesh Power Developement Board
- Thai Mozambique Logistica
- TeaM Sual Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Savvy Resources Ltd - HongKong
- Merrill Lynch Commodities Europe
- Electricity Generating Authority of Thailand
- PNOC Exploration Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Altura Mining Limited, Indonesia
- Essar Steel Hazira Ltd - India
- Bhushan Steel Limited - India
- Bhatia International Limited - India
- Maheswari Brothers Coal Limited - India
- Malabar Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Grasim Industreis Ltd - India
- Bharathi Cement Corporation - India
- Indonesian Coal Mining Association
- MS Steel International - UAE
- Aboitiz Power Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Sindya Power Generating Company Private Ltd
- Minerals Council of Australia
- Aditya Birla Group - India
- London Commodity Brokers - England
- Samtan Co., Ltd - South Korea
- Coal and Oil Company - UAE
- IEA Clean Coal Centre - UK
- Jaiprakash Power Ventures ltd
- Africa Commodities Group - South Africa
- Goldman Sachs - Singapore
- Cigading International Bulk Terminal - Indonesia
- Wilmar Investment Holdings
- Karbindo Abesyapradhi - Indoneisa
- Carbofer General Trading SA - India
- The Treasury - Australian Government
- Ministry of Mines - Canada
- Rio Tinto Coal - Australia
- Globalindo Alam Lestari - Indonesia
- Orica Mining Services - Indonesia
- Planning Commission, India
- Thiess Contractors Indonesia
- Cement Manufacturers Association - India
- Riau Bara Harum - Indonesia
- GMR Energy Limited - India
- Mercuria Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- VISA Power Limited - India
- Straits Asia Resources Limited - Singapore
- The State Trading Corporation of India Ltd
- Kideco Jaya Agung - Indonesia
- Therma Luzon, Inc, Philippines
- Independent Power Producers Association of India
- Bukit Makmur.PT - Indonesia
- Mjunction Services Limited - India
- SMG Consultants - Indonesia
- Kaltim Prima Coal - Indonesia
- Mintek Dendrill Indonesia
- Edison Trading Spa - Italy
- Semirara Mining and Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Timah Investasi Mineral - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Attock Cement Pakistan Limited
- Port Waratah Coal Services - Australia
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Parliament of New Zealand
- Ambuja Cements Ltd - India
- Romanian Commodities Exchange
- Baramulti Group, Indonesia
- Oldendorff Carriers - Singapore
- Agrawal Coal Company - India
- Antam Resourcindo - Indonesia
- Gujarat Sidhee Cement - India
- San Jose City I Power Corp, Philippines
- Mercator Lines Limited - India
- Kepco SPC Power Corporation, Philippines
- Lanco Infratech Ltd - India
- IHS Mccloskey Coal Group - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Intertek Mineral Services - Indonesia
- Commonwealth Bank - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Videocon Industries ltd - India
- The University of Queensland
- ASAPP Information Group - India
- Formosa Plastics Group - Taiwan
- Petron Corporation, Philippines
- GVK Power & Infra Limited - India
- Makarim & Taira - Indonesia
- Indogreen Group - Indonesia
- Meralco Power Generation, Philippines
- Kartika Selabumi Mining - Indonesia
- India Bulls Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement - Thailand
- PowerSource Philippines DevCo
- Power Finance Corporation Ltd., India
- Jorong Barutama Greston.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Salva Resources Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Ind-Barath Power Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Australian Coal Association
- Wood Mackenzie - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sojitz Corporation - Japan
- Singapore Mercantile Exchange
- Xindia Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Global Coal Blending Company Limited - Australia
- Indian Energy Exchange, India
- Tata Chemicals Ltd - India
- Borneo Indobara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Vedanta Resources Plc - India
- CIMB Investment Bank - Malaysia
- South Luzon Thermal Energy Corporation
- LBH Netherlands Bv - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- White Energy Company Limited
- Sical Logistics Limited - India
- PTC India Limited - India
- Simpson Spence & Young - Indonesia
- International Coal Ventures Pvt Ltd - India
- Dalmia Cement Bharat India
- Coalindo Energy - Indonesia
- Parry Sugars Refinery, India
- Deloitte Consulting - India
- Global Green Power PLC Corporation, Philippines
- Semirara Mining Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Ministry of Transport, Egypt
- New Zealand Coal & Carbon
- Indika Energy - Indonesia
- Economic Council, Georgia
- Manunggal Multi Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Chettinad Cement Corporation Ltd - India
- Interocean Group of Companies - India
- GAC Shipping (India) Pvt Ltd
- McConnell Dowell - Australia
- SN Aboitiz Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Larsen & Toubro Limited - India
- Jindal Steel & Power Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement PLC, Thailand
- Trasteel International SA, Italy
- Indian Oil Corporation Limited
- Banpu Public Company Limited - Thailand
- Sinarmas Energy and Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Chamber of Mines of South Africa
- Tamil Nadu electricity Board
- Anglo American - United Kingdom
- Binh Thuan Hamico - Vietnam
- Bayan Resources Tbk. - Indonesia
- Iligan Light & Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Eastern Coal Council - USA
- Billiton Holdings Pty Ltd - Australia
- Marubeni Corporation - India
- Uttam Galva Steels Limited - India
- Madhucon Powers Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kobexindo Tractors - Indoneisa
- ICICI Bank Limited - India
- Orica Australia Pty. Ltd.
- Medco Energi Mining Internasional
- SMC Global Power, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sakthi Sugars Limited - India
- Pendopo Energi Batubara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Central Java Power - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Georgia Ports Authority, United States
- Central Electricity Authority - India
- Standard Chartered Bank - UAE
- Bahari Cakrawala Sebuku - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Directorate Of Revenue Intelligence - India
- Energy Development Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- TNB Fuel Sdn Bhd - Malaysia
- CNBM International Corporation - China
- Ministry of Finance - Indonesia
- Latin American Coal - Colombia
- Electricity Authority, New Zealand
- Kumho Petrochemical, South Korea
- Eastern Energy - Thailand
- Australian Commodity Traders Exchange
- Bulk Trading Sa - Switzerland
- Renaissance Capital - South Africa
- Rashtriya Ispat Nigam Limited - India
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