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Wednesday, 20 January 21
CORONAVIRUS OUTBREAK IN HEBEI HAS LIMITED IMPACT ON CHINA'S STEEL INDUSTRY - FITCH RATINGS
 The recent Covid-19 outbreak in the steel producing hub Hebei will not have material impact on China’s steel industry, Fitch Ratings says.
The most significant effect from the recent outbreak is the closure of certain transportation routes, which could delay raw material and product deliveries. However, we think steel production will be only minimally affected in the short term because the current restrictions are implemented in only some cities in the province. In addition, demand for steel products is generally weaker during winter when there is less construction activity. In the past few years (excluding exceptions caused by Covid-19), the new fixed-asset investment growth rate was in the low single digits in winter and in the mid to high single digits during the rest of the year.
Most steel plants maintain sufficient raw materials for operation in the short term, and steel plants usually plan for maintenance during the winter. Steel production in winter (November to February) during the last three years (excluding exceptions caused by Covid-19) was, on average, around 90% of the output for the rest of the year.
The closure of certain transportation routes began on 5 January 2021, and China’s steel product inventory level has increased by around 6% week on week since then. This increase is in line with that seen in previous years around the same time. Therefore, we think inventory build-up from the latest measures to curb the Covid-19 outbreak should not be significant.
However, prolonged restrictions or wider implementation of the measures could have a considerable impact on the steel industry. Extended logistics restrictions could mean insufficient raw materials for steel plants to continue production and delivery delays that could lead to inventory build-up. Construction around restricted areas may also be dampened, which will reduce demand for steel products.
Source: Fitch Ratings
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Wednesday, 24 February 21
MARKET INSIGHT - INTERMODAL
With yields of up to 563%, the shares of Greek shipping companies listed on Wall Street are recorded. The Coronavirus pandemic has not significantl ...
Sunday, 21 February 21
ANZ DIVESTING FROM THE WORLD’S LARGEST COAL EXPORT PORT IS 'PRAGMATISM' - IEEFA
The biggest buyers of Australian thermal coal have committed to net-zero emissions
ANZ, Australia’s third largest bank, has decided to s ...
Sunday, 21 February 21
EDITORIAL: TIME FOR BANGLADESH TO FOCUS ON RENEWABLE ENERGY, NOT COAL - DHAKA TRIBUNE
Shifting away from coal is not only desirable, but absolutely necessary in these times.
In spite of being detrimental to environment ...
Wednesday, 17 February 21
STRANDED ASSETS A LONG-TERM RISK FOR MAJOR FOSSIL FUEL EXPORTERS - FITCH RATINGS
Fossil exporters face a loss of GDP, government revenue and export receipts from the transition to a lower-carbon economy over the coming decades. ...
Friday, 12 February 21
U.S: WIND SURPASSED COAL AS NO. 1 FUEL SOURCE IN 2020 FOR SOUTHWEST POWER POOL - IEEFA
Wind energy growth due to geography, design factors, and new installations
Wind surpassed coal as the primary power generation sourc ...
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- Goldman Sachs - Singapore
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- IHS Mccloskey Coal Group - USA
- Straits Asia Resources Limited - Singapore
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- Tata Chemicals Ltd - India
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- Samtan Co., Ltd - South Korea
- Ambuja Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Indika Energy - Indonesia
- Antam Resourcindo - Indonesia
- Africa Commodities Group - South Africa
- Miang Besar Coal Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Star Paper Mills Limited - India
- European Bulk Services B.V. - Netherlands
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- Economic Council, Georgia
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- Sindya Power Generating Company Private Ltd
- MS Steel International - UAE
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- CIMB Investment Bank - Malaysia
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- Energy Link Ltd, New Zealand
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- Bank of Tokyo Mitsubishi UFJ Ltd
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- Alfred C Toepfer International GmbH - Germany
- Chamber of Mines of South Africa
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- Singapore Mercantile Exchange
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- New Zealand Coal & Carbon
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