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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, 25 November 21
SE ASIA POWER DEMAND TO RISE AS STATE SUPPORT MITIGATES COVID-19 IMPACT - FITCH RATINGS
Electricity demand in south-east Asia is likely to increase in 2021, following slow growth or contraction in 2020, thanks to state support that has ...
Thursday, 25 November 21
FITCH RATINGS INCREASES MOST GLOBAL METALS AND MINING PRICE ASSUMPTIONS - FITCH RATINGS
Fitch Ratings has increased most metals and mining price assumptions, particularly those that benefit from increased longer-term demand due to glob ...
Thursday, 25 November 21
CHINA'S COAL PRICE DROPS IN MID-NOVEMBER AMID GOVERNMENT’S SWEEPING MEASURES - GLOBAL TIMES
China’s coal prices have dropped significantly in mid-November compared with the beginning of the month, with the price of coking coal and co ...
Wednesday, 24 November 21
MARKET INSIGHT - INTERMODAL
Inflation is the word that has dominated the meetings of foreign leaders and finance ministers in recent weeks, as rising energy costs, supply chai ...
Wednesday, 24 November 21
WHY THIS MINING ANALYST IS UPBEAT ON THE IRON ORE PRICE FORECAST - MOTLEY FOOL
In many ways, 2021 can be called the year of the iron ore price. Much of the talk of the ASX town this year has revolved around this key economic m ...
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- Antam Resourcindo - Indonesia
- Sical Logistics Limited - India
- Malabar Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kohat Cement Company Ltd. - Pakistan
- Pipit Mutiara Jaya. PT, Indonesia
- Ind-Barath Power Infra Limited - India
- Meenaskhi Energy Private Limited - India
- Thai Mozambique Logistica
- Chamber of Mines of South Africa
- Bukit Baiduri Energy - Indonesia
- Tamil Nadu electricity Board
- Miang Besar Coal Terminal - Indonesia
- Madhucon Powers Ltd - India
- Singapore Mercantile Exchange
- OPG Power Generation Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dalmia Cement Bharat India
- Kapuas Tunggal Persada - Indonesia
- Vedanta Resources Plc - India
- Wood Mackenzie - Singapore
- Karbindo Abesyapradhi - Indoneisa
- ASAPP Information Group - India
- Energy Link Ltd, New Zealand
- Coalindo Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Bukit Makmur.PT - Indonesia
- Agrawal Coal Company - India
- Anglo American - United Kingdom
- Medco Energi Mining Internasional
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Altura Mining Limited, Indonesia
- PTC India Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Riau Bara Harum - Indonesia
- Bhoruka Overseas - Indonesia
- ICICI Bank Limited - India
- Leighton Contractors Pty Ltd - Australia
- CNBM International Corporation - China
- Posco Energy - South Korea
- Bhushan Steel Limited - India
- San Jose City I Power Corp, Philippines
- Formosa Plastics Group - Taiwan
- Sakthi Sugars Limited - India
- Orica Mining Services - Indonesia
- Mercator Lines Limited - India
- Planning Commission, India
- Standard Chartered Bank - UAE
- Iligan Light & Power Inc, Philippines
- McConnell Dowell - Australia
- Ministry of Finance - Indonesia
- Rio Tinto Coal - Australia
- Sinarmas Energy and Mining - Indonesia
- Tata Chemicals Ltd - India
- Essar Steel Hazira Ltd - India
- The State Trading Corporation of India Ltd
- Billiton Holdings Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Ministry of Mines - Canada
- Mjunction Services Limited - India
- Deloitte Consulting - India
- Central Electricity Authority - India
- Georgia Ports Authority, United States
- Heidelberg Cement - Germany
- Cement Manufacturers Association - India
- Commonwealth Bank - Australia
- GVK Power & Infra Limited - India
- Samtan Co., Ltd - South Korea
- CIMB Investment Bank - Malaysia
- Binh Thuan Hamico - Vietnam
- Vizag Seaport Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- European Bulk Services B.V. - Netherlands
- White Energy Company Limited
- Toyota Tsusho Corporation, Japan
- Bayan Resources Tbk. - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Australian Commodity Traders Exchange
- Parry Sugars Refinery, India
- Sojitz Corporation - Japan
- Eastern Coal Council - USA
- Asmin Koalindo Tuhup - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Indogreen Group - Indonesia
- Bharathi Cement Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Global Business Power Corporation, Philippines
- Energy Development Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Central Java Power - Indonesia
- Makarim & Taira - Indonesia
- India Bulls Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Trasteel International SA, Italy
- International Coal Ventures Pvt Ltd - India
- Economic Council, Georgia
- The Treasury - Australian Government
- Larsen & Toubro Limited - India
- Gujarat Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Global Coal Blending Company Limited - Australia
- Gujarat Sidhee Cement - India
- IHS Mccloskey Coal Group - USA
- Ceylon Electricity Board - Sri Lanka
- Ministry of Transport, Egypt
- PetroVietnam Power Coal Import and Supply Company
- Attock Cement Pakistan Limited
- Ambuja Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Mintek Dendrill Indonesia
- TeaM Sual Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Therma Luzon, Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Edison Trading Spa - Italy
- Baramulti Group, Indonesia
- Price Waterhouse Coopers - Russia
- Sarangani Energy Corporation, Philippines
- Electricity Authority, New Zealand
- Australian Coal Association
- SMC Global Power, Philippines
- South Luzon Thermal Energy Corporation
- Lanco Infratech Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Intertek Mineral Services - Indonesia
- Latin American Coal - Colombia
- Minerals Council of Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kobexindo Tractors - Indoneisa
- Directorate Of Revenue Intelligence - India
- Indika Energy - Indonesia
- Petron Corporation, Philippines
- Orica Australia Pty. Ltd.
- Krishnapatnam Port Company Ltd. - India
- Banpu Public Company Limited - Thailand
- GMR Energy Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Coal and Oil Company - UAE
- Xindia Steels Limited - India
- PNOC Exploration Corporation - Philippines
- Mercuria Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thiess Contractors Indonesia
- London Commodity Brokers - England
- Goldman Sachs - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Romanian Commodities Exchange
- Savvy Resources Ltd - HongKong
- Siam City Cement - Thailand
- SN Aboitiz Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Siam City Cement PLC, Thailand
- VISA Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- MS Steel International - UAE
- Kaltim Prima Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Sree Jayajothi Cements Limited - India
- GAC Shipping (India) Pvt Ltd
- Meralco Power Generation, Philippines
- PowerSource Philippines DevCo
- Jaiprakash Power Ventures ltd
- Interocean Group of Companies - India
- Videocon Industries ltd - India
- Merrill Lynch Commodities Europe
- Parliament of New Zealand
- Bangladesh Power Developement Board
- Indian Oil Corporation Limited
- Pendopo Energi Batubara - Indonesia
- Independent Power Producers Association of India
- The University of Queensland
- Kumho Petrochemical, South Korea
- Electricity Generating Authority of Thailand
- Renaissance Capital - South Africa
- Oldendorff Carriers - Singapore
- Power Finance Corporation Ltd., India
- Marubeni Corporation - India
- IEA Clean Coal Centre - UK
- Bhatia International Limited - India
- New Zealand Coal & Carbon
- Aditya Birla Group - India
- Metalloyd Limited - United Kingdom
- Indonesian Coal Mining Association
- Carbofer General Trading SA - India
- Rashtriya Ispat Nigam Limited - India
- Star Paper Mills Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Port Waratah Coal Services - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Salva Resources Pvt Ltd - India
- SMG Consultants - Indonesia
- Globalindo Alam Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Wilmar Investment Holdings
- Jindal Steel & Power Ltd - India
- Grasim Industreis Ltd - India
- Borneo Indobara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Eastern Energy - Thailand
- Semirara Mining Corp, Philippines
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