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Saturday, 06 August 22
SUMITOMO Q1 PROFIT RISES 45% ON STRONGER PRICES OF COAL, NICKEL - REUTERS
Japanese trading house Sumitomo Corp 8053.T said on Wednesday its net profit for the April-June quarter rose 45% to a record thanks to higher prices of commodities such as coal and nickel as well as strong demand for steel products in North America.
Net profit for the three months climbed to a record 155.2 billion yen ($1.2 billion) from 107.3 billion yen a year earlier, but the company stuck to its annual profit forecast of 370 billion yen.
“Earnings from both resource and non-resource businesses have been stronger than anticipated earlier,” Sumitomo Chief Financial Officer Reiji Morooka told a news conference, adding that it may raise its profit guidance.
“On the other hand, the risk of a global economic slowdown and other uncertainties are increasing, and we will closely examine full-year forecasts going forward,” he said.
Sumitomo expects nickel production at its Ambatovy project in Madagascar to achieve its initial target of about 40,000 tonnes this financial year to March 31, after producing about 8,000 tonnes in the first quarter.
Increased oil and gas drilling activities in North America have also supported its steel pipe business in the April-June quarter and the company sees robust demand in pipes continuing through next March, Morooka said.
Asked whether Sumitomo expects any change in its business strategy in China amid rising tensions between China and Taiwan as well as China and the United States following U.S. House Speaker Nancy Pelosi’s visit to Taiwan, Morooka said no change is planned.
“It has become a major issue for us to think of how to deal with the heightened geopolitical risks triggered by not only the U.S.-China issue but also the Russia-Ukraine conflict,” Morooka said.
“We will pay close attention to the (U.S.-China) situation with high interest,” he said.
Source: Reuters
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Sunday, 16 April 23
CHINA JUGGLES FOUR MAJOR ECONOMIC CHANGES IN 2023 - WOOD MACKENZIE
Change is afoot in China. Economic growth is slowing, while rising political tensions between China and the US, coupled with global supply chain re ...
Sunday, 16 April 23
CHINA'S MARCH COAL IMPORTS JUMP TO 3-YEAR HIGH - REUTERS
China’s coal imports surged in March to their highest in any month over the past three years as utilities increased purchases on expectations ...
Sunday, 16 April 23
OPEC KEEPS WORLD OIL DEMAND GROWTH OUTLOOK UNCHANGED
The OPEC Reference Basket (ORB) declined in March by $3.43, or 4.2%, m-o-m to average $78.45/b. The ICE Brent first-month contract fell by $4.33, o ...
Sunday, 16 April 23
CHEAPER SPOT LNG PRICES TEMPT SOME ASIAN BUYERS AMID SUPPLY GAINS - REUTERS
Cheaper spot prices for liquefied natural gas (LNG) are luring price-sensitive buyers back in Asia, with China and India recording rising imports i ...
Tuesday, 11 April 23
COAL USE CLIMBS WORLDWIDE DESPITE PROMISES TO SLASH IT - AAP
The burning of coal for electricity, cement, steel and other uses went up in 2022 despite global promises to phase down the fuel that is the bigges ...
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- McConnell Dowell - Australia
- Ministry of Mines - Canada
- Africa Commodities Group - South Africa
- Mintek Dendrill Indonesia
- Tamil Nadu electricity Board
- Ministry of Finance - Indonesia
- Sree Jayajothi Cements Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- OPG Power Generation Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Minerals Council of Australia
- Cement Manufacturers Association - India
- Asmin Koalindo Tuhup - Indonesia
- Renaissance Capital - South Africa
- Grasim Industreis Ltd - India
- Mercuria Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Orica Mining Services - Indonesia
- Parliament of New Zealand
- Semirara Mining Corp, Philippines
- Baramulti Group, Indonesia
- Indogreen Group - Indonesia
- Essar Steel Hazira Ltd - India
- Thai Mozambique Logistica
- PetroVietnam Power Coal Import and Supply Company
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Planning Commission, India
- Billiton Holdings Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- ASAPP Information Group - India
- Directorate Of Revenue Intelligence - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhushan Steel Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Global Business Power Corporation, Philippines
- Medco Energi Mining Internasional
- Ambuja Cements Ltd - India
- Videocon Industries ltd - India
- SN Aboitiz Power Inc, Philippines
- Tata Chemicals Ltd - India
- Altura Mining Limited, Indonesia
- Indian Energy Exchange, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- TeaM Sual Corporation - Philippines
- Meralco Power Generation, Philippines
- Oldendorff Carriers - Singapore
- Chamber of Mines of South Africa
- White Energy Company Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Goldman Sachs - Singapore
- Marubeni Corporation - India
- Kepco SPC Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Bhatia International Limited - India
- Neyveli Lignite Corporation Ltd, - India
- GAC Shipping (India) Pvt Ltd
- Antam Resourcindo - Indonesia
- Commonwealth Bank - Australia
- Salva Resources Pvt Ltd - India
- Makarim & Taira - Indonesia
- Barasentosa Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- VISA Power Limited - India
- Anglo American - United Kingdom
- The Treasury - Australian Government
- Chettinad Cement Corporation Ltd - India
- The University of Queensland
- Kobexindo Tractors - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Singapore Mercantile Exchange
- Straits Asia Resources Limited - Singapore
- Indonesian Coal Mining Association
- Therma Luzon, Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Savvy Resources Ltd - HongKong
- Indika Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Riau Bara Harum - Indonesia
- Mjunction Services Limited - India
- Maharashtra Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- New Zealand Coal & Carbon
- Trasteel International SA, Italy
- Xindia Steels Limited - India
- Latin American Coal - Colombia
- Kartika Selabumi Mining - Indonesia
- Thiess Contractors Indonesia
- Sarangani Energy Corporation, Philippines
- Economic Council, Georgia
- Formosa Plastics Group - Taiwan
- Siam City Cement PLC, Thailand
- Kideco Jaya Agung - Indonesia
- San Jose City I Power Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Bangladesh Power Developement Board
- Bukit Makmur.PT - Indonesia
- Central Electricity Authority - India
- Samtan Co., Ltd - South Korea
- Ind-Barath Power Infra Limited - India
- Banpu Public Company Limited - Thailand
- Orica Australia Pty. Ltd.
- Dalmia Cement Bharat India
- Offshore Bulk Terminal Pte Ltd, Singapore
- PNOC Exploration Corporation - Philippines
- Bharathi Cement Corporation - India
- Kaltim Prima Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Coal and Oil Company - UAE
- Madhucon Powers Ltd - India
- Star Paper Mills Limited - India
- IHS Mccloskey Coal Group - USA
- Indian Oil Corporation Limited
- Romanian Commodities Exchange
- Wilmar Investment Holdings
- Ministry of Transport, Egypt
- Coalindo Energy - Indonesia
- Electricity Generating Authority of Thailand
- LBH Netherlands Bv - Netherlands
- SMG Consultants - Indonesia
- Sojitz Corporation - Japan
- Energy Development Corp, Philippines
- Mercator Lines Limited - India
- Electricity Authority, New Zealand
- Vedanta Resources Plc - India
- Sindya Power Generating Company Private Ltd
- Rio Tinto Coal - Australia
- Jaiprakash Power Ventures ltd
- Petron Corporation, Philippines
- IEA Clean Coal Centre - UK
- Toyota Tsusho Corporation, Japan
- Bukit Baiduri Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Price Waterhouse Coopers - Russia
- Attock Cement Pakistan Limited
- Carbofer General Trading SA - India
- Gujarat Mineral Development Corp Ltd - India
- Karaikal Port Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Pendopo Energi Batubara - Indonesia
- Deloitte Consulting - India
- Alfred C Toepfer International GmbH - Germany
- Kalimantan Lumbung Energi - Indonesia
- India Bulls Power Limited - India
- Agrawal Coal Company - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Java Power - Indonesia
- Binh Thuan Hamico - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Borneo Indobara - Indonesia
- Simpson Spence & Young - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- MS Steel International - UAE
- International Coal Ventures Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Lanco Infratech Ltd - India
- Global Green Power PLC Corporation, Philippines
- Eastern Coal Council - USA
- Larsen & Toubro Limited - India
- Gujarat Sidhee Cement - India
- Power Finance Corporation Ltd., India
- Kumho Petrochemical, South Korea
- Heidelberg Cement - Germany
- GN Power Mariveles Coal Plant, Philippines
- Australian Coal Association
- Australian Commodity Traders Exchange
- Globalindo Alam Lestari - Indonesia
- Independent Power Producers Association of India
- Vijayanagar Sugar Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Miang Besar Coal Terminal - Indonesia
- ICICI Bank Limited - India
- GMR Energy Limited - India
- Merrill Lynch Commodities Europe
- Eastern Energy - Thailand
- Aditya Birla Group - India
- Maheswari Brothers Coal Limited - India
- Uttam Galva Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Posco Energy - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- SMC Global Power, Philippines
- Sakthi Sugars Limited - India
- Metalloyd Limited - United Kingdom
- Wood Mackenzie - Singapore
- Bulk Trading Sa - Switzerland
- Energy Link Ltd, New Zealand
- Vizag Seaport Private Limited - India
- Interocean Group of Companies - India
- Georgia Ports Authority, United States
- Edison Trading Spa - Italy
- Bahari Cakrawala Sebuku - Indonesia
- Sical Logistics Limited - India
- Malabar Cements Ltd - India
- PTC India Limited - India
- Intertek Mineral Services - Indonesia
- London Commodity Brokers - England
- Parry Sugars Refinery, India
- GVK Power & Infra Limited - India
- Iligan Light & Power Inc, Philippines
- CNBM International Corporation - China
- Rashtriya Ispat Nigam Limited - India
- Port Waratah Coal Services - Australia
- Coastal Gujarat Power Limited - India
- Meenaskhi Energy Private Limited - India
- Standard Chartered Bank - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Siam City Cement - Thailand
- European Bulk Services B.V. - Netherlands
- Aboitiz Power Corporation - Philippines
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