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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, 26 January 22
MARKET INSIGHT - INTERMODAL
While it is logical that most of the S&P reports of the first weeks of the year are linked to very limited activity as reflected in the weekly ...
Wednesday, 26 January 22
INDONESIA: DME PROJECT IS ECONOMICALLY VIABLE AS STUDY DEMONSTRATES
The government is encouraging downstream coal processing or increase in coal added value, for example by turning coal into Dimethyl Ether (DME) to ...
Wednesday, 26 January 22
COMMODITY PRICES COULD SOAR IF THE RUSSIA-UKRAINE CRISIS ESCALATES - ING
It appears that a number of commodity markets are starting to at least price in some geopolitical risk around the growing tension between Russia an ...
Wednesday, 26 January 22
INDONESIA'S COAL BAN SENDS PRICES SOARING, OTHER EXPORTERS FAIL TO STEP UP - REUTERS
Indonesia’s short-lived ban on exporting coal has sent ructions through the seaborne market for the fuel in Asia, with the fallout likely to ...
Friday, 21 January 22
CHINA'S POWER TRADING TARIFFS TO RISE IN 2022 - FITCH RATINGS
Rising trading volume and higher-than-benchmark tariffs in the 2022 bilateral contracts signed between Chinese power generation companies (gencos) ...
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- Larsen & Toubro Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Deloitte Consulting - India
- Interocean Group of Companies - India
- ASAPP Information Group - India
- Africa Commodities Group - South Africa
- IEA Clean Coal Centre - UK
- Carbofer General Trading SA - India
- Xindia Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Makarim & Taira - Indonesia
- Gujarat Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- South Luzon Thermal Energy Corporation
- GAC Shipping (India) Pvt Ltd
- Latin American Coal - Colombia
- Bahari Cakrawala Sebuku - Indonesia
- Singapore Mercantile Exchange
- Indogreen Group - Indonesia
- Edison Trading Spa - Italy
- Chamber of Mines of South Africa
- Uttam Galva Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- Agrawal Coal Company - India
- Wood Mackenzie - Singapore
- Australian Coal Association
- Kalimantan Lumbung Energi - Indonesia
- Economic Council, Georgia
- Mintek Dendrill Indonesia
- The Treasury - Australian Government
- Samtan Co., Ltd - South Korea
- Leighton Contractors Pty Ltd - Australia
- Heidelberg Cement - Germany
- Global Coal Blending Company Limited - Australia
- Madhucon Powers Ltd - India
- SMG Consultants - Indonesia
- IHS Mccloskey Coal Group - USA
- Mercuria Energy - Indonesia
- Indian Oil Corporation Limited
- Maharashtra Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- India Bulls Power Limited - India
- TeaM Sual Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Malabar Cements Ltd - India
- Cement Manufacturers Association - India
- Gujarat Mineral Development Corp Ltd - India
- Parry Sugars Refinery, India
- Dalmia Cement Bharat India
- San Jose City I Power Corp, Philippines
- Planning Commission, India
- Coalindo Energy - Indonesia
- London Commodity Brokers - England
- Intertek Mineral Services - Indonesia
- Independent Power Producers Association of India
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining and Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Sojitz Corporation - Japan
- Bulk Trading Sa - Switzerland
- CIMB Investment Bank - Malaysia
- Energy Development Corp, Philippines
- CNBM International Corporation - China
- New Zealand Coal & Carbon
- Karaikal Port Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- MS Steel International - UAE
- Oldendorff Carriers - Singapore
- Ministry of Mines - Canada
- Pipit Mutiara Jaya. PT, Indonesia
- Banpu Public Company Limited - Thailand
- Thai Mozambique Logistica
- Ministry of Finance - Indonesia
- Tata Chemicals Ltd - India
- Wilmar Investment Holdings
- Straits Asia Resources Limited - Singapore
- OPG Power Generation Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Mining Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Meralco Power Generation, Philippines
- Aditya Birla Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Georgia Ports Authority, United States
- Essar Steel Hazira Ltd - India
- Bukit Makmur.PT - Indonesia
- Renaissance Capital - South Africa
- Chettinad Cement Corporation Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Maheswari Brothers Coal Limited - India
- Kaltim Prima Coal - Indonesia
- Eastern Energy - Thailand
- Bukit Baiduri Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Tamil Nadu electricity Board
- Gujarat Sidhee Cement - India
- The University of Queensland
- Romanian Commodities Exchange
- SMC Global Power, Philippines
- Jindal Steel & Power Ltd - India
- Metalloyd Limited - United Kingdom
- Mercator Lines Limited - India
- Indian Energy Exchange, India
- Trasteel International SA, Italy
- PetroVietnam Power Coal Import and Supply Company
- Coal and Oil Company - UAE
- Bhushan Steel Limited - India
- Jaiprakash Power Ventures ltd
- Therma Luzon, Inc, Philippines
- Savvy Resources Ltd - HongKong
- Anglo American - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Merrill Lynch Commodities Europe
- Holcim Trading Pte Ltd - Singapore
- Attock Cement Pakistan Limited
- Pendopo Energi Batubara - Indonesia
- VISA Power Limited - India
- Marubeni Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sree Jayajothi Cements Limited - India
- Indika Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Altura Mining Limited, Indonesia
- Port Waratah Coal Services - Australia
- Jorong Barutama Greston.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Ambuja Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- GMR Energy Limited - India
- Videocon Industries ltd - India
- Sical Logistics Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Antam Resourcindo - Indonesia
- Central Electricity Authority - India
- Alfred C Toepfer International GmbH - Germany
- Eastern Coal Council - USA
- Kobexindo Tractors - Indoneisa
- White Energy Company Limited
- Bhatia International Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Ceylon Electricity Board - Sri Lanka
- Directorate General of MIneral and Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sinarmas Energy and Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- PNOC Exploration Corporation - Philippines
- The State Trading Corporation of India Ltd
- Toyota Tsusho Corporation, Japan
- Ministry of Transport, Egypt
- Price Waterhouse Coopers - Russia
- Rio Tinto Coal - Australia
- Goldman Sachs - Singapore
- Orica Australia Pty. Ltd.
- Mjunction Services Limited - India
- Australian Commodity Traders Exchange
- Kumho Petrochemical, South Korea
- Standard Chartered Bank - UAE
- Posco Energy - South Korea
- Baramulti Group, Indonesia
- GVK Power & Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Lanco Infratech Ltd - India
- Central Java Power - Indonesia
- Commonwealth Bank - Australia
- Aboitiz Power Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Coastal Gujarat Power Limited - India
- Vedanta Resources Plc - India
- Indo Tambangraya Megah - Indonesia
- Vizag Seaport Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thiess Contractors Indonesia
- Kideco Jaya Agung - Indonesia
- PTC India Limited - India
- Semirara Mining Corp, Philippines
- Indonesian Coal Mining Association
- Bangladesh Power Developement Board
- Sarangani Energy Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Rashtriya Ispat Nigam Limited - India
- Grasim Industreis Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Parliament of New Zealand
- Salva Resources Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Energy Link Ltd, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement - Thailand
- Electricity Authority, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Star Paper Mills Limited - India
- Minerals Council of Australia
- Sindya Power Generating Company Private Ltd
- Billiton Holdings Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sakthi Sugars Limited - India
- Manunggal Multi Energi - Indonesia
- Borneo Indobara - Indonesia
- Bharathi Cement Corporation - India
- Riau Bara Harum - Indonesia
- McConnell Dowell - Australia
- Kepco SPC Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Petron Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Power Finance Corporation Ltd., India
- PowerSource Philippines DevCo
- Timah Investasi Mineral - Indoneisa
- Medco Energi Mining Internasional
- Global Green Power PLC Corporation, Philippines
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