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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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Thursday, 03 February 22
COAL SHORTAGE NOW AT ALARMING LEVELS, SAY ALUMINIUM PRODUCERS - IANS
With no relief in sight despite coal stocks running critically low and production disruptions looming across the Indian aluminium sector, the Alumi ...
Wednesday, 02 February 22
HIGH COKING COAL PRICES PROVIDE GLIMPSE INTO STEELMAKING'S FUTURE - MCKINSEY
Last year was a volatile one in global commodity markets. Demand for coking coal, an essential raw material in the production of steel, was extreme ...
Wednesday, 02 February 22
INDONESIA'S RESTRICTIONS ON COMMODITIES RATTLE MARKETS, MORE MOVES LIKELY - REUTERS
In just the first month of this year, Indonesian policymakers have rattled global markets with restrictions on some of its biggest commodities expo ...
Wednesday, 02 February 22
CHINA'S TOP COAL PRODUCER FORECASTS 28 PCT PROFIT GROWTH IN 2021 - XINHUA
China Shenhua Energy Company Limited, one of the country’s biggest coal producers, said its net profits are expected to jump by 28 percent in ...
Wednesday, 02 February 22
COAL STORAGE IN CHINA’S POWER PLANTS NEAR RECORD HIGHS - XINHUA
Coal inflows into China’s power plants have picked up, bringing their coal storage to near record highs, the National Development and Reform ...
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- Commonwealth Bank - Australia
- Mintek Dendrill Indonesia
- VISA Power Limited - India
- Minerals Council of Australia
- Formosa Plastics Group - Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- Latin American Coal - Colombia
- PetroVietnam Power Coal Import and Supply Company
- Sindya Power Generating Company Private Ltd
- GVK Power & Infra Limited - India
- Dalmia Cement Bharat India
- Essar Steel Hazira Ltd - India
- Xindia Steels Limited - India
- San Jose City I Power Corp, Philippines
- Therma Luzon, Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Sical Logistics Limited - India
- IHS Mccloskey Coal Group - USA
- The State Trading Corporation of India Ltd
- Parry Sugars Refinery, India
- Maheswari Brothers Coal Limited - India
- Jaiprakash Power Ventures ltd
- Siam City Cement PLC, Thailand
- Indian Oil Corporation Limited
- Ministry of Finance - Indonesia
- Trasteel International SA, Italy
- Directorate General of MIneral and Coal - Indonesia
- Bhushan Steel Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Mercuria Energy - Indonesia
- ASAPP Information Group - India
- Chamber of Mines of South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Samtan Co., Ltd - South Korea
- Indonesian Coal Mining Association
- Coalindo Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thiess Contractors Indonesia
- Goldman Sachs - Singapore
- Salva Resources Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Karaikal Port Pvt Ltd - India
- Planning Commission, India
- Energy Development Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Jindal Steel & Power Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The University of Queensland
- Larsen & Toubro Limited - India
- Central Electricity Authority - India
- South Luzon Thermal Energy Corporation
- Billiton Holdings Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bharathi Cement Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Coastal Gujarat Power Limited - India
- Sree Jayajothi Cements Limited - India
- Indogreen Group - Indonesia
- Meralco Power Generation, Philippines
- Metalloyd Limited - United Kingdom
- Eastern Coal Council - USA
- SMC Global Power, Philippines
- Singapore Mercantile Exchange
- Edison Trading Spa - Italy
- Kapuas Tunggal Persada - Indonesia
- Pendopo Energi Batubara - Indonesia
- Sarangani Energy Corporation, Philippines
- Malabar Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- ICICI Bank Limited - India
- Central Java Power - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Borneo Indobara - Indonesia
- PTC India Limited - India
- Holcim Trading Pte Ltd - Singapore
- Georgia Ports Authority, United States
- Ind-Barath Power Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Indian Energy Exchange, India
- Medco Energi Mining Internasional
- Bukit Baiduri Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- GMR Energy Limited - India
- TeaM Sual Corporation - Philippines
- Eastern Energy - Thailand
- Electricity Authority, New Zealand
- Vizag Seaport Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- The Treasury - Australian Government
- Globalindo Alam Lestari - Indonesia
- Interocean Group of Companies - India
- LBH Netherlands Bv - Netherlands
- Energy Link Ltd, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Power Finance Corporation Ltd., India
- Ambuja Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Aditya Birla Group - India
- Kumho Petrochemical, South Korea
- PowerSource Philippines DevCo
- Parliament of New Zealand
- Deloitte Consulting - India
- Pipit Mutiara Jaya. PT, Indonesia
- Global Business Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Makarim & Taira - Indonesia
- Marubeni Corporation - India
- Lanco Infratech Ltd - India
- Kideco Jaya Agung - Indonesia
- Heidelberg Cement - Germany
- Tata Chemicals Ltd - India
- SN Aboitiz Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Gujarat Sidhee Cement - India
- Videocon Industries ltd - India
- Sojitz Corporation - Japan
- India Bulls Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Alfred C Toepfer International GmbH - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- New Zealand Coal & Carbon
- Gujarat Mineral Development Corp Ltd - India
- Banpu Public Company Limited - Thailand
- Leighton Contractors Pty Ltd - Australia
- Rio Tinto Coal - Australia
- Renaissance Capital - South Africa
- Krishnapatnam Port Company Ltd. - India
- Mjunction Services Limited - India
- Timah Investasi Mineral - Indoneisa
- Bhoruka Overseas - Indonesia
- Port Waratah Coal Services - Australia
- Aboitiz Power Corporation - Philippines
- White Energy Company Limited
- Price Waterhouse Coopers - Russia
- Tamil Nadu electricity Board
- CNBM International Corporation - China
- Baramulti Group, Indonesia
- Mercator Lines Limited - India
- Antam Resourcindo - Indonesia
- Petron Corporation, Philippines
- Bhatia International Limited - India
- Kohat Cement Company Ltd. - Pakistan
- European Bulk Services B.V. - Netherlands
- Merrill Lynch Commodities Europe
- Uttam Galva Steels Limited - India
- Africa Commodities Group - South Africa
- Wilmar Investment Holdings
- London Commodity Brokers - England
- Orica Mining Services - Indonesia
- Standard Chartered Bank - UAE
- SMG Consultants - Indonesia
- Oldendorff Carriers - Singapore
- Sakthi Sugars Limited - India
- Global Coal Blending Company Limited - Australia
- Semirara Mining Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Ministry of Mines - Canada
- Anglo American - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- Thai Mozambique Logistica
- Independent Power Producers Association of India
- Bangladesh Power Developement Board
- Siam City Cement - Thailand
- McConnell Dowell - Australia
- Romanian Commodities Exchange
- Economic Council, Georgia
- Global Green Power PLC Corporation, Philippines
- Attock Cement Pakistan Limited
- Australian Commodity Traders Exchange
- Star Paper Mills Limited - India
- OPG Power Generation Pvt Ltd - India
- Grasim Industreis Ltd - India
- PNOC Exploration Corporation - Philippines
- Indika Energy - Indonesia
- Carbofer General Trading SA - India
- Toyota Tsusho Corporation, Japan
- Coal and Oil Company - UAE
- International Coal Ventures Pvt Ltd - India
- Cement Manufacturers Association - India
- Orica Australia Pty. Ltd.
- AsiaOL BioFuels Corp., Philippines
- Posco Energy - South Korea
- Riau Bara Harum - Indonesia
- MS Steel International - UAE
- IEA Clean Coal Centre - UK
- Straits Asia Resources Limited - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Agrawal Coal Company - India
- Australian Coal Association
- Vedanta Resources Plc - India
- Manunggal Multi Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Meenaskhi Energy Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Altura Mining Limited, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Miang Besar Coal Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- Ministry of Transport, Egypt
- Simpson Spence & Young - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Madhucon Powers Ltd - India
- Indo Tambangraya Megah - Indonesia
- Intertek Mineral Services - Indonesia
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