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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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- Gujarat Mineral Development Corp Ltd - India
- CNBM International Corporation - China
- Essar Steel Hazira Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- CIMB Investment Bank - Malaysia
- Sojitz Corporation - Japan
- MS Steel International - UAE
- Electricity Generating Authority of Thailand
- Iligan Light & Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- The University of Queensland
- Anglo American - United Kingdom
- Samtan Co., Ltd - South Korea
- Goldman Sachs - Singapore
- GAC Shipping (India) Pvt Ltd
- Petron Corporation, Philippines
- Makarim & Taira - Indonesia
- Vizag Seaport Private Limited - India
- Renaissance Capital - South Africa
- Power Finance Corporation Ltd., India
- Jindal Steel & Power Ltd - India
- South Luzon Thermal Energy Corporation
- Orica Mining Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Global Business Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Malabar Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Independent Power Producers Association of India
- Ministry of Transport, Egypt
- Miang Besar Coal Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- New Zealand Coal & Carbon
- Antam Resourcindo - Indonesia
- Baramulti Group, Indonesia
- Barasentosa Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Electricity Authority, New Zealand
- Energy Development Corp, Philippines
- Mintek Dendrill Indonesia
- Marubeni Corporation - India
- Riau Bara Harum - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kartika Selabumi Mining - Indonesia
- McConnell Dowell - Australia
- Deloitte Consulting - India
- PNOC Exploration Corporation - Philippines
- Indogreen Group - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Tamil Nadu electricity Board
- Karbindo Abesyapradhi - Indoneisa
- Trasteel International SA, Italy
- Singapore Mercantile Exchange
- Indonesian Coal Mining Association
- Indo Tambangraya Megah - Indonesia
- Chettinad Cement Corporation Ltd - India
- Binh Thuan Hamico - Vietnam
- Sical Logistics Limited - India
- Planning Commission, India
- Thiess Contractors Indonesia
- The State Trading Corporation of India Ltd
- Merrill Lynch Commodities Europe
- Kobexindo Tractors - Indoneisa
- Posco Energy - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining and Power Corporation, Philippines
- Mjunction Services Limited - India
- Rashtriya Ispat Nigam Limited - India
- Wood Mackenzie - Singapore
- GVK Power & Infra Limited - India
- Oldendorff Carriers - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Global Coal Blending Company Limited - Australia
- The Treasury - Australian Government
- Karaikal Port Pvt Ltd - India
- Aditya Birla Group - India
- Bukit Makmur.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Cigading International Bulk Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- Energy Link Ltd, New Zealand
- Lanco Infratech Ltd - India
- Kaltim Prima Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Eastern Coal Council - USA
- Meralco Power Generation, Philippines
- Mercuria Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- SMG Consultants - Indonesia
- Vedanta Resources Plc - India
- Gujarat Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Banpu Public Company Limited - Thailand
- ASAPP Information Group - India
- Port Waratah Coal Services - Australia
- Gujarat Sidhee Cement - India
- Bhoruka Overseas - Indonesia
- International Coal Ventures Pvt Ltd - India
- GMR Energy Limited - India
- Manunggal Multi Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bhushan Steel Limited - India
- Billiton Holdings Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- Central Electricity Authority - India
- Vijayanagar Sugar Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Bangladesh Power Developement Board
- Central Java Power - Indonesia
- Medco Energi Mining Internasional
- Australian Commodity Traders Exchange
- Timah Investasi Mineral - Indoneisa
- Coalindo Energy - Indonesia
- Africa Commodities Group - South Africa
- Xindia Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- European Bulk Services B.V. - Netherlands
- Directorate Of Revenue Intelligence - India
- Bayan Resources Tbk. - Indonesia
- Wilmar Investment Holdings
- Krishnapatnam Port Company Ltd. - India
- Indian Oil Corporation Limited
- Larsen & Toubro Limited - India
- SN Aboitiz Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Thai Mozambique Logistica
- Mercator Lines Limited - India
- Indika Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Carbofer General Trading SA - India
- Dalmia Cement Bharat India
- Siam City Cement PLC, Thailand
- Latin American Coal - Colombia
- Bulk Trading Sa - Switzerland
- Madhucon Powers Ltd - India
- PTC India Limited - India
- Kepco SPC Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IEA Clean Coal Centre - UK
- Maharashtra Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- Parliament of New Zealand
- Intertek Mineral Services - Indonesia
- VISA Power Limited - India
- TeaM Sual Corporation - Philippines
- Agrawal Coal Company - India
- Aboitiz Power Corporation - Philippines
- India Bulls Power Limited - India
- Ministry of Finance - Indonesia
- Semirara Mining Corp, Philippines
- Altura Mining Limited, Indonesia
- Chamber of Mines of South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parry Sugars Refinery, India
- Commonwealth Bank - Australia
- Sarangani Energy Corporation, Philippines
- Siam City Cement - Thailand
- SMC Global Power, Philippines
- Bharathi Cement Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sree Jayajothi Cements Limited - India
- Rio Tinto Coal - Australia
- OPG Power Generation Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Uttam Galva Steels Limited - India
- Videocon Industries ltd - India
- Standard Chartered Bank - UAE
- Kumho Petrochemical, South Korea
- Economic Council, Georgia
- Kohat Cement Company Ltd. - Pakistan
- Toyota Tsusho Corporation, Japan
- Therma Luzon, Inc, Philippines
- Minerals Council of Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Energy - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Borneo Indobara - Indonesia
- Grasim Industreis Ltd - India
- Heidelberg Cement - Germany
- Ceylon Electricity Board - Sri Lanka
- Australian Coal Association
- Ambuja Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- LBH Netherlands Bv - Netherlands
- Kideco Jaya Agung - Indonesia
- Sindya Power Generating Company Private Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Attock Cement Pakistan Limited
- ICICI Bank Limited - India
- Georgia Ports Authority, United States
- Jorong Barutama Greston.PT - Indonesia
- White Energy Company Limited
- Orica Australia Pty. Ltd.
- Edison Trading Spa - Italy
- Romanian Commodities Exchange
- PowerSource Philippines DevCo
- Star Paper Mills Limited - India
- Jaiprakash Power Ventures ltd
- Bhatia International Limited - India
- Ind-Barath Power Infra Limited - India
- Tata Chemicals Ltd - India
- Ministry of Mines - Canada
- Indian Energy Exchange, India
- Sakthi Sugars Limited - India
- Globalindo Alam Lestari - Indonesia
- Coal and Oil Company - UAE
- Asmin Koalindo Tuhup - Indonesia
- Interocean Group of Companies - India
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