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