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Friday, 27 March 20
CHINA'S BULKS: THE SENTIMENT GAP BETWEEN STEEL AND COAL WIDENS - WOOD MACKENZIE
 China seems to be containing its local coronavirus situation, with imported cases now posing the greater threat. While quarantine measures remain tight in cities such as Beijing and Shanghai – China’s busiest points of entry – economic activity is resuming in lower-risk regions.
Market sentiment for steel is optimistic, with production picking up and inventory finally running down. However, the coal market remains gloomy with weak market fundamentals, bringing both thermal and metallurgical coal prices down.
In this article, analysts Nuomin Han, Zhai Yu, Simon Wu, Zhilu Wang and Ti Guo bring you an update from across China’s bulks sector.
Coal supply: import disruptions continue
Domestic coal supply has already returned to normal, but disruptions remain on the import side. Mongolian coal supply took another twist when border crossings didn’t reopen as scheduled on 16 March – precautionary measures were not well prepared amid confirmation of further coronavirus cases in Mongolia. The reopening of border crossings is now rescheduled for 1 April.
Thermal coal: weak demand adds to an unfavourable outlook
The Qinhuangdao 5,500 price has slid further in the past week, due to weak demand. Daily coal consumption by the six largest gencos in the coastal region remains at 80% of last year’s level. In addition, heating supply in many provinces has ended. The National Bureau of Statistics issued its macroeconomic indicators for the first two months of the year: the slump in figures and the global spread of coronavirus suggest an unfavourable outlook for the coal market.
With no change in the fundamentals, we expect the Qinhuangdao price to keep falling this week.
Metallurgical coal: price pressure won’t ease quickly
While finished steel stockpiles have started to fall, they remain at high levels. As such, coke prices were cut for a fourth time by RMB50/t, despite resistance from coke makers. Some coking plants in northwest China have reported losses after prices have quickly declined by RMB200/t in recent weeks.
Stagnant coke demand has enhanced the fall in coking coal prices in Shanxi, with Liulin #4 dropping RMB70/t in the week and Anze low-sulphur premium HCC falling by RMB110/t.
The price arbitrage between domestic and imported coking coal has narrowed under the weak demand picture, further eroding the price advantage of imported coking coal and ramping up pressure on prices.
We expect downstream industries to continue to recover in the coming weeks, helping steel demand to pick up. However, the pressure on coking coal prices is unlikely to be relieved quickly, as the destocking of steel will take some time. As such, prices will remain weak for a short while.
Steel and iron ore: as downstream operations resumed, inventory started to fall
Just as the market expected, finished steel inventory started to fall as more stable downstream operations resumed. Steel production is also picking up, as more electric arc furnace steelmakers resume operations on improved margin conditions. Rebar spot and futures are particularly firm among other commodities that have been freefalling amid the global financial shock.
Market sentiment shows strong confidence in China’s property sector and the government’s efforts to leverage the economy through infrastructure. Most Chinese-made rebar is consumed domestically. However, oversupply remains a risk – apart from the high finished steel inventory, we shouldn’t forget semi-finished, which isn’t included in the inventory statistics. Official data shows production of crude steel grew 3.1% year-on-year in January and February, but finished steel production dropped 3.4%.
Source: Wood Mackenzie
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Tuesday, 07 January 20
BHP EYES INDIA FOR COAL GROWTH AS CHINA DEMAND FLATLINES - SYDNEY MORNING HERALD
Australia’s largest miner, BHP, believes the long-term trajectory of the emerging economy of India and the acceleration of its steelmaking ou ...
Sunday, 05 January 20
BUNKER QUALITY CLAIMS IN 2020 - ISSUES TO CONSIDER - CLYDE&CO
KNOWLEDGE TO ELEVATE
In recent years the shipping industry has faced a significant number of bunker quality claims, most notably ari ...
Saturday, 04 January 20
SUPRAMAX: A 53,000DWT VESSEL FIXING DELIVERY INDONESIA TRIP TO CHINA AT $4,000 AND A 58,000DWT SHIP FIXING DELIVERY EAST KALIMANTAN TRIP TO THAILAND AT $5,500 - BALTIC BRIEFING
Capesize
The New Year started with an erosion on pre-Christmas rates as the higher low sulphur fuel costs due to IMO 2020 affected levels. From ...
Thursday, 02 January 20
DMO 2020 PRICE SET FOR ELECTRICITY SECTOR - IAN WOLLFF
On the 26th December 2019, the Minister of Energy and Mineral Resources (ESDM) issued the decree No. 261.K/30.MEM/2019 about the States needs for c ...
Thursday, 02 January 20
SULPHUR 2020 COMPENDIUM - HOW ARE INDIVIDUAL PORT STATES EXPECTED TO REACT? - STANDARD CLUB
KNOWLEDGE TO ELEVATE
With the new sulphur limits soon to be in force, Standard Club has been investigating the ways in which certain jurisdict ...
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Showing 1211 to 1215 news of total 6871 |
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- Mercuria Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- OPG Power Generation Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Tamil Nadu electricity Board
- San Jose City I Power Corp, Philippines
- Mercator Lines Limited - India
- Edison Trading Spa - Italy
- Jindal Steel & Power Ltd - India
- Maheswari Brothers Coal Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Independent Power Producers Association of India
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement PLC, Thailand
- Bangladesh Power Developement Board
- Ministry of Finance - Indonesia
- Indo Tambangraya Megah - Indonesia
- Indogreen Group - Indonesia
- Savvy Resources Ltd - HongKong
- Bharathi Cement Corporation - India
- Ind-Barath Power Infra Limited - India
- Essar Steel Hazira Ltd - India
- White Energy Company Limited
- IHS Mccloskey Coal Group - USA
- LBH Netherlands Bv - Netherlands
- Aboitiz Power Corporation - Philippines
- PTC India Limited - India
- Goldman Sachs - Singapore
- Ceylon Electricity Board - Sri Lanka
- International Coal Ventures Pvt Ltd - India
- Interocean Group of Companies - India
- Simpson Spence & Young - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Samtan Co., Ltd - South Korea
- Krishnapatnam Port Company Ltd. - India
- Sakthi Sugars Limited - India
- PNOC Exploration Corporation - Philippines
- Sical Logistics Limited - India
- CIMB Investment Bank - Malaysia
- Uttam Galva Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Toyota Tsusho Corporation, Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coal and Oil Company - UAE
- Energy Link Ltd, New Zealand
- India Bulls Power Limited - India
- Parry Sugars Refinery, India
- Indian Oil Corporation Limited
- Mjunction Services Limited - India
- Lanco Infratech Ltd - India
- The Treasury - Australian Government
- Anglo American - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement - Thailand
- Kumho Petrochemical, South Korea
- Kohat Cement Company Ltd. - Pakistan
- SMG Consultants - Indonesia
- Parliament of New Zealand
- Xindia Steels Limited - India
- ICICI Bank Limited - India
- Madhucon Powers Ltd - India
- Renaissance Capital - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Australia Pty. Ltd.
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Africa Commodities Group - South Africa
- Heidelberg Cement - Germany
- IEA Clean Coal Centre - UK
- Eastern Energy - Thailand
- Jaiprakash Power Ventures ltd
- Coalindo Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Chamber of Mines of South Africa
- SN Aboitiz Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- Latin American Coal - Colombia
- TNB Fuel Sdn Bhd - Malaysia
- Posco Energy - South Korea
- Pendopo Energi Batubara - Indonesia
- Timah Investasi Mineral - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Star Paper Mills Limited - India
- SMC Global Power, Philippines
- Rio Tinto Coal - Australia
- Georgia Ports Authority, United States
- Bahari Cakrawala Sebuku - Indonesia
- VISA Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Altura Mining Limited, Indonesia
- Barasentosa Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Australian Commodity Traders Exchange
- Videocon Industries ltd - India
- CNBM International Corporation - China
- Holcim Trading Pte Ltd - Singapore
- Ministry of Mines - Canada
- Miang Besar Coal Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Therma Luzon, Inc, Philippines
- Dalmia Cement Bharat India
- Baramulti Group, Indonesia
- Commonwealth Bank - Australia
- Directorate General of MIneral and Coal - Indonesia
- Central Electricity Authority - India
- New Zealand Coal & Carbon
- Ambuja Cements Ltd - India
- Electricity Authority, New Zealand
- Rashtriya Ispat Nigam Limited - India
- Australian Coal Association
- GVK Power & Infra Limited - India
- Eastern Coal Council - USA
- Globalindo Alam Lestari - Indonesia
- Global Business Power Corporation, Philippines
- Planning Commission, India
- Grasim Industreis Ltd - India
- McConnell Dowell - Australia
- Indika Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Larsen & Toubro Limited - India
- Oldendorff Carriers - Singapore
- Trasteel International SA, Italy
- Thai Mozambique Logistica
- Energy Development Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Antam Resourcindo - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Vedanta Resources Plc - India
- Price Waterhouse Coopers - Russia
- Standard Chartered Bank - UAE
- Kepco SPC Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Bhoruka Overseas - Indonesia
- Indonesian Coal Mining Association
- Romanian Commodities Exchange
- Port Waratah Coal Services - Australia
- Indian Energy Exchange, India
- Riau Bara Harum - Indonesia
- Manunggal Multi Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Sinarmas Energy and Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- Borneo Indobara - Indonesia
- TeaM Sual Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Agrawal Coal Company - India
- PowerSource Philippines DevCo
- Kalimantan Lumbung Energi - Indonesia
- London Commodity Brokers - England
- Gujarat Sidhee Cement - India
- Meenaskhi Energy Private Limited - India
- Economic Council, Georgia
- Bhushan Steel Limited - India
- Karaikal Port Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Medco Energi Mining Internasional
- Formosa Plastics Group - Taiwan
- Vizag Seaport Private Limited - India
- Petron Corporation, Philippines
- Meralco Power Generation, Philippines
- Wood Mackenzie - Singapore
- Billiton Holdings Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Carbofer General Trading SA - India
- Deloitte Consulting - India
- Kideco Jaya Agung - Indonesia
- Semirara Mining Corp, Philippines
- Orica Mining Services - Indonesia
- Malabar Cements Ltd - India
- Bhatia International Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mintek Dendrill Indonesia
- Ministry of Transport, Egypt
- Wilmar Investment Holdings
- Sree Jayajothi Cements Limited - India
- Global Coal Blending Company Limited - Australia
- Electricity Generating Authority of Thailand
- South Luzon Thermal Energy Corporation
- MS Steel International - UAE
- Central Java Power - Indonesia
- Thiess Contractors Indonesia
- GMR Energy Limited - India
- Tata Chemicals Ltd - India
- Minerals Council of Australia
- Global Green Power PLC Corporation, Philippines
- Singapore Mercantile Exchange
- Sojitz Corporation - Japan
- Merrill Lynch Commodities Europe
- Cement Manufacturers Association - India
- Bulk Trading Sa - Switzerland
- Sindya Power Generating Company Private Ltd
- ASAPP Information Group - India
- Chettinad Cement Corporation Ltd - India
- Attock Cement Pakistan Limited
- European Bulk Services B.V. - Netherlands
- The University of Queensland
- Intertek Mineral Services - Indonesia
- Aditya Birla Group - India
- Sarangani Energy Corporation, Philippines
- The State Trading Corporation of India Ltd
- Bayan Resources Tbk. - Indonesia
- Binh Thuan Hamico - Vietnam
- Makarim & Taira - Indonesia
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