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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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Saturday, 28 December 19
SUPRAMAX: A 63,000DWT VESSEL, OPEN CIGADING, FIXED A TRIP VIA INDONESIA, REDELIVERY WEST COAST INDIA, AT $8,500 - BALTIC BRIEFING
Capesize
The Capesize market this past week has been attempting to recalibrate itself in consideration of weakening freight levels and increasing ...
Saturday, 28 December 19
CHINESE INDUSTRIAL CITY TO FURTHER CUT COAL CONSUMPTION - XINHUA
Harbin, capital city of Heilongjiang Province in China’s northeastern industrial heartland, is planning to further reduce its coal consumptio ...
Friday, 27 December 19
MISERY LOOMS OVER TOP COAL SHIPPERS AS CHINA TO BUY LESS IN 2020 BLOOMBERG
China isn’t cutting back on consumption of the most-polluting fossil fuel just yet, but it is set to reduce imports.
The world ...
Thursday, 26 December 19
REVIEW OF 2019 AND OUTLOOK FOR 2020 - OPEC
Global economic growth slowed in 2019, impacted by a variety of challenges. Trade issues not only led to reduction in global final consumption but ...
Wednesday, 25 December 19
COVER FOR WAR AND TERRORISM RISKS, AND COVER IN RESPECT OF BIOLOGICAL AND BIO-CHEMICAL WEAPONS - 2020 POLICY YEAR: AMERICAN CLUB
KNOWLEDGE TO ELEVATE
This Circular describes the arrangements which have been made to provide special cover for war and terrorism risks, and c ...
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Showing 1221 to 1225 news of total 6871 |
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- VISA Power Limited - India
- Directorate Of Revenue Intelligence - India
- GMR Energy Limited - India
- India Bulls Power Limited - India
- Tata Chemicals Ltd - India
- Iligan Light & Power Inc, Philippines
- Anglo American - United Kingdom
- Essar Steel Hazira Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Agrawal Coal Company - India
- Siam City Cement PLC, Thailand
- White Energy Company Limited
- Carbofer General Trading SA - India
- Leighton Contractors Pty Ltd - Australia
- Billiton Holdings Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- Bhatia International Limited - India
- The Treasury - Australian Government
- CNBM International Corporation - China
- Kumho Petrochemical, South Korea
- Altura Mining Limited, Indonesia
- Power Finance Corporation Ltd., India
- PTC India Limited - India
- Deloitte Consulting - India
- Barasentosa Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Aditya Birla Group - India
- Maharashtra Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- IHS Mccloskey Coal Group - USA
- Gujarat Sidhee Cement - India
- Vedanta Resources Plc - India
- Krishnapatnam Port Company Ltd. - India
- Coalindo Energy - Indonesia
- PowerSource Philippines DevCo
- Eastern Energy - Thailand
- Indonesian Coal Mining Association
- Simpson Spence & Young - Indonesia
- Energy Development Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- ICICI Bank Limited - India
- Tamil Nadu electricity Board
- San Jose City I Power Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Posco Energy - South Korea
- Riau Bara Harum - Indonesia
- Electricity Authority, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- GAC Shipping (India) Pvt Ltd
- Sojitz Corporation - Japan
- Goldman Sachs - Singapore
- Madhucon Powers Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Sindya Power Generating Company Private Ltd
- Maheswari Brothers Coal Limited - India
- Indogreen Group - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhushan Steel Limited - India
- Malabar Cements Ltd - India
- CIMB Investment Bank - Malaysia
- Ambuja Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Central Java Power - Indonesia
- Standard Chartered Bank - UAE
- Economic Council, Georgia
- Savvy Resources Ltd - HongKong
- Orica Mining Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- Sical Logistics Limited - India
- Alfred C Toepfer International GmbH - Germany
- Vizag Seaport Private Limited - India
- Kideco Jaya Agung - Indonesia
- Singapore Mercantile Exchange
- Indo Tambangraya Megah - Indonesia
- International Coal Ventures Pvt Ltd - India
- Renaissance Capital - South Africa
- Banpu Public Company Limited - Thailand
- Energy Link Ltd, New Zealand
- AsiaOL BioFuels Corp., Philippines
- The State Trading Corporation of India Ltd
- Metalloyd Limited - United Kingdom
- Makarim & Taira - Indonesia
- Australian Coal Association
- Heidelberg Cement - Germany
- Planning Commission, India
- Romanian Commodities Exchange
- Jaiprakash Power Ventures ltd
- Electricity Generating Authority of Thailand
- Orica Australia Pty. Ltd.
- IEA Clean Coal Centre - UK
- Siam City Cement - Thailand
- Karaikal Port Pvt Ltd - India
- Thai Mozambique Logistica
- Bukit Asam (Persero) Tbk - Indonesia
- Chamber of Mines of South Africa
- Kapuas Tunggal Persada - Indonesia
- Lanco Infratech Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Independent Power Producers Association of India
- Bayan Resources Tbk. - Indonesia
- Marubeni Corporation - India
- Ind-Barath Power Infra Limited - India
- Salva Resources Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Mintek Dendrill Indonesia
- Commonwealth Bank - Australia
- Global Business Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Interocean Group of Companies - India
- Petrochimia International Co. Ltd.- Taiwan
- Petron Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Baramulti Group, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- The University of Queensland
- Kalimantan Lumbung Energi - Indonesia
- Grasim Industreis Ltd - India
- LBH Netherlands Bv - Netherlands
- Coal and Oil Company - UAE
- Sinarmas Energy and Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Georgia Ports Authority, United States
- Larsen & Toubro Limited - India
- Xindia Steels Limited - India
- Ministry of Mines - Canada
- Dalmia Cement Bharat India
- Wood Mackenzie - Singapore
- Parry Sugars Refinery, India
- Samtan Co., Ltd - South Korea
- Antam Resourcindo - Indonesia
- Uttam Galva Steels Limited - India
- Kaltim Prima Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Kepco SPC Power Corporation, Philippines
- Parliament of New Zealand
- Sarangani Energy Corporation, Philippines
- Indian Oil Corporation Limited
- Ministry of Transport, Egypt
- Eastern Coal Council - USA
- Price Waterhouse Coopers - Russia
- Minerals Council of Australia
- Mercuria Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Africa Commodities Group - South Africa
- MS Steel International - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- London Commodity Brokers - England
- PNOC Exploration Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Intertek Mineral Services - Indonesia
- Therma Luzon, Inc, Philippines
- South Luzon Thermal Energy Corporation
- McConnell Dowell - Australia
- Jindal Steel & Power Ltd - India
- SMC Global Power, Philippines
- New Zealand Coal & Carbon
- Global Green Power PLC Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- Central Electricity Authority - India
- Port Waratah Coal Services - Australia
- Star Paper Mills Limited - India
- GVK Power & Infra Limited - India
- Semirara Mining Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Meenaskhi Energy Private Limited - India
- Timah Investasi Mineral - Indoneisa
- Binh Thuan Hamico - Vietnam
- Thiess Contractors Indonesia
- Coastal Gujarat Power Limited - India
- Manunggal Multi Energi - Indonesia
- Edison Trading Spa - Italy
- European Bulk Services B.V. - Netherlands
- Aboitiz Power Corporation - Philippines
- Attock Cement Pakistan Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Merrill Lynch Commodities Europe
- Karbindo Abesyapradhi - Indoneisa
- Mercator Lines Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Bharathi Cement Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Medco Energi Mining Internasional
- Formosa Plastics Group - Taiwan
- Bukit Baiduri Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kobexindo Tractors - Indoneisa
- Ministry of Finance - Indonesia
- Borneo Indobara - Indonesia
- Bangladesh Power Developement Board
- Pipit Mutiara Jaya. PT, Indonesia
- Meralco Power Generation, Philippines
- Kartika Selabumi Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Latin American Coal - Colombia
- Videocon Industries ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Mjunction Services Limited - India
- Rio Tinto Coal - Australia
- Indika Energy - Indonesia
- ASAPP Information Group - India
- Indian Energy Exchange, India
- SN Aboitiz Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Cement Manufacturers Association - India
- Bulk Trading Sa - Switzerland
- Sakthi Sugars Limited - India
- Straits Asia Resources Limited - Singapore
- Semirara Mining and Power Corporation, Philippines
- Australian Commodity Traders Exchange
- SMG Consultants - Indonesia
- Trasteel International SA, Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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