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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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Wednesday, 09 February 22
OIL PRICES: "IT'S GOING TO BE VERY EASY" TO GET TO $100/BARREL, ANALYST SAYS - YAHOO FINANCE
Energy and oil prices have been on fire over the last six months — and expect them to go higher, says one analyst.
“For ...
Wednesday, 09 February 22
MARKET INSIGHT - INTERMODAL
Iron ore prices have jumped significantly in the week prior to the Chinese New Year with traders and producers stocking up on raw materials. China& ...
Wednesday, 09 February 22
FEBRUARY HBA HITS RECORD HIGH IN 2022 ON INDONESIA’S EXPORT BAN IN JANUARY, WORSEN SUPPLY, UKRAINE TENSIONS
COALspot.com: Indonesian Coal Price Reference for February in a steep climb from January 2022.
As expected in January the Indonesia ...
Wednesday, 09 February 22
CHINESE COAL MARKS BEST DAY IN 4 MONTHS ON TIGHT SUPPLY, HIGH DEMAND - REUTERS
China’s coal futures on Tuesday recorded their best session since Bejing’s mid-October intervention to cool runaway prices, aided by co ...
Friday, 04 February 22
RENEWABLES ON THE RISE, COAL CONTINUOUSLY FALLING - EUROPEAN COMMISSION
Although oil (34.5%) and natural gas (23.7%) were still the most important fuel sources in the EU energy mix in 2020, renewable energy’s shar ...
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- Iligan Light & Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Electricity Authority, New Zealand
- McConnell Dowell - Australia
- Anglo American - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- LBH Netherlands Bv - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Agrawal Coal Company - India
- Orica Mining Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Binh Thuan Hamico - Vietnam
- Kapuas Tunggal Persada - Indonesia
- London Commodity Brokers - England
- Ceylon Electricity Board - Sri Lanka
- Mintek Dendrill Indonesia
- Parliament of New Zealand
- Sree Jayajothi Cements Limited - India
- PNOC Exploration Corporation - Philippines
- VISA Power Limited - India
- Meenaskhi Energy Private Limited - India
- Port Waratah Coal Services - Australia
- Goldman Sachs - Singapore
- Ministry of Transport, Egypt
- Wilmar Investment Holdings
- Toyota Tsusho Corporation, Japan
- Dalmia Cement Bharat India
- Madhucon Powers Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Jindal Steel & Power Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Indika Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Global Green Power PLC Corporation, Philippines
- Lanco Infratech Ltd - India
- Videocon Industries ltd - India
- TeaM Sual Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kepco SPC Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Antam Resourcindo - Indonesia
- Coalindo Energy - Indonesia
- Planning Commission, India
- Sical Logistics Limited - India
- Commonwealth Bank - Australia
- Xindia Steels Limited - India
- Medco Energi Mining Internasional
- Carbofer General Trading SA - India
- India Bulls Power Limited - India
- Directorate Of Revenue Intelligence - India
- Gujarat Mineral Development Corp Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Renaissance Capital - South Africa
- Kartika Selabumi Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Tata Chemicals Ltd - India
- Bulk Trading Sa - Switzerland
- ICICI Bank Limited - India
- Petron Corporation, Philippines
- Gujarat Sidhee Cement - India
- Georgia Ports Authority, United States
- Energy Link Ltd, New Zealand
- SMG Consultants - Indonesia
- Grasim Industreis Ltd - India
- Indo Tambangraya Megah - Indonesia
- Sakthi Sugars Limited - India
- Chettinad Cement Corporation Ltd - India
- Bayan Resources Tbk. - Indonesia
- Posco Energy - South Korea
- Kumho Petrochemical, South Korea
- Sojitz Corporation - Japan
- Mercator Lines Limited - India
- Mjunction Services Limited - India
- European Bulk Services B.V. - Netherlands
- Singapore Mercantile Exchange
- Straits Asia Resources Limited - Singapore
- Coal and Oil Company - UAE
- Ministry of Finance - Indonesia
- Metalloyd Limited - United Kingdom
- Barasentosa Lestari - Indonesia
- Semirara Mining Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Baramulti Group, Indonesia
- Bhatia International Limited - India
- Aditya Birla Group - India
- Simpson Spence & Young - Indonesia
- Economic Council, Georgia
- Holcim Trading Pte Ltd - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- SMC Global Power, Philippines
- Karaikal Port Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Gujarat Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- The University of Queensland
- Parry Sugars Refinery, India
- Indian Oil Corporation Limited
- Samtan Co., Ltd - South Korea
- Rio Tinto Coal - Australia
- Romanian Commodities Exchange
- Maharashtra Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Minerals Council of Australia
- Eastern Energy - Thailand
- Indian Energy Exchange, India
- Essar Steel Hazira Ltd - India
- Trasteel International SA, Italy
- OPG Power Generation Pvt Ltd - India
- PowerSource Philippines DevCo
- Eastern Coal Council - USA
- Global Coal Blending Company Limited - Australia
- Oldendorff Carriers - Singapore
- Coastal Gujarat Power Limited - India
- Bhushan Steel Limited - India
- Siam City Cement PLC, Thailand
- The Treasury - Australian Government
- Salva Resources Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Jaiprakash Power Ventures ltd
- Wood Mackenzie - Singapore
- Kobexindo Tractors - Indoneisa
- Malabar Cements Ltd - India
- Vedanta Resources Plc - India
- Ministry of Mines - Canada
- Australian Commodity Traders Exchange
- Bharathi Cement Corporation - India
- International Coal Ventures Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- White Energy Company Limited
- Kaltim Prima Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Energy Development Corp, Philippines
- Meralco Power Generation, Philippines
- Cement Manufacturers Association - India
- Tamil Nadu electricity Board
- Riau Bara Harum - Indonesia
- Ambuja Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- Independent Power Producers Association of India
- New Zealand Coal & Carbon
- Borneo Indobara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- PTC India Limited - India
- The State Trading Corporation of India Ltd
- CNBM International Corporation - China
- Chamber of Mines of South Africa
- GVK Power & Infra Limited - India
- Star Paper Mills Limited - India
- Interocean Group of Companies - India
- Bangladesh Power Developement Board
- Indogreen Group - Indonesia
- Standard Chartered Bank - UAE
- Globalindo Alam Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Latin American Coal - Colombia
- Neyveli Lignite Corporation Ltd, - India
- Bukit Makmur.PT - Indonesia
- Makarim & Taira - Indonesia
- IHS Mccloskey Coal Group - USA
- Australian Coal Association
- Thai Mozambique Logistica
- Timah Investasi Mineral - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Sindya Power Generating Company Private Ltd
- Central Java Power - Indonesia
- Heidelberg Cement - Germany
- Banpu Public Company Limited - Thailand
- Marubeni Corporation - India
- ASAPP Information Group - India
- Africa Commodities Group - South Africa
- San Jose City I Power Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Indonesian Coal Mining Association
- Deloitte Consulting - India
- Formosa Plastics Group - Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Merrill Lynch Commodities Europe
- Vizag Seaport Private Limited - India
- Power Finance Corporation Ltd., India
- Siam City Cement - Thailand
- Uttam Galva Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Larsen & Toubro Limited - India
- Manunggal Multi Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Edison Trading Spa - Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Ind-Barath Power Infra Limited - India
- GMR Energy Limited - India
- Alfred C Toepfer International GmbH - Germany
- Sinarmas Energy and Mining - Indonesia
- MS Steel International - UAE
- Therma Luzon, Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- IEA Clean Coal Centre - UK
- Orica Australia Pty. Ltd.
- Altura Mining Limited, Indonesia
- Electricity Generating Authority of Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Mercuria Energy - Indonesia
- Thiess Contractors Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kalimantan Lumbung Energi - Indonesia
- Central Electricity Authority - India
- Attock Cement Pakistan Limited
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