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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, 03 November 21
CHINA TO LAUNCH NEW DATA MONITORING SYSTEM, TARGETING COAL MARKET SPECULATION, HOARDING - GLOBAL TIMES
China’s top economic planner announced on Sunday a new data system for supervising the implementation of medium- and long-term contracts of c ...
Wednesday, 03 November 21
CHINA’S STATE PLANNER SAYS COAL SUPPLY IMPROVING, PRICES STABILISING - REUTERS
China’s coal supply situation has seen significant improvement with joint efforts from coal producers, logistics and downstream users, while ...
Wednesday, 03 November 21
HIGHER COKING COAL PRICES TO PARE PROFITABILITY OF STEELMAKERS IN SECOND HALF OF FY22 - CRISIL RATINGS
The operating margin of primary steelmakers will reduce by a third to 24-26% in the second half of this fiscal versus the first half as input cost ...
Wednesday, 03 November 21
MARKET INSIGHT - INTERMODAL
November is here and soon the all time seasonal favorite “all I want or Christmas is you” by Mariah Carey will be played in radio stati ...
Monday, 01 November 21
COAL PRICES HAVE FURTHER ROOM TO DROP: TOP ECONOMIC PLANNER - GLOBAL TIMES
China’s top economic planner said coal prices have further room to drop on Friday, as the most traded coal futures dropped to below 1,000 yua ...
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- Independent Power Producers Association of India
- TNB Fuel Sdn Bhd - Malaysia
- Grasim Industreis Ltd - India
- IEA Clean Coal Centre - UK
- PNOC Exploration Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Indo Tambangraya Megah - Indonesia
- South Luzon Thermal Energy Corporation
- The Treasury - Australian Government
- London Commodity Brokers - England
- AsiaOL BioFuels Corp., Philippines
- Toyota Tsusho Corporation, Japan
- Borneo Indobara - Indonesia
- Formosa Plastics Group - Taiwan
- Iligan Light & Power Inc, Philippines
- VISA Power Limited - India
- Siam City Cement PLC, Thailand
- Mercuria Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Australian Coal Association
- Ministry of Mines - Canada
- Bayan Resources Tbk. - Indonesia
- Cement Manufacturers Association - India
- Bhushan Steel Limited - India
- Videocon Industries ltd - India
- Ambuja Cements Ltd - India
- Coal and Oil Company - UAE
- Ministry of Transport, Egypt
- Medco Energi Mining Internasional
- The State Trading Corporation of India Ltd
- Uttam Galva Steels Limited - India
- San Jose City I Power Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Thai Mozambique Logistica
- CNBM International Corporation - China
- Sree Jayajothi Cements Limited - India
- Karaikal Port Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Posco Energy - South Korea
- Leighton Contractors Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Petron Corporation, Philippines
- Latin American Coal - Colombia
- Star Paper Mills Limited - India
- Interocean Group of Companies - India
- Thiess Contractors Indonesia
- Goldman Sachs - Singapore
- Kobexindo Tractors - Indoneisa
- Samtan Co., Ltd - South Korea
- Ceylon Electricity Board - Sri Lanka
- Kumho Petrochemical, South Korea
- Lanco Infratech Ltd - India
- Wilmar Investment Holdings
- Essar Steel Hazira Ltd - India
- Straits Asia Resources Limited - Singapore
- Sarangani Energy Corporation, Philippines
- Global Business Power Corporation, Philippines
- SMC Global Power, Philippines
- Africa Commodities Group - South Africa
- Deloitte Consulting - India
- Rashtriya Ispat Nigam Limited - India
- Riau Bara Harum - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Standard Chartered Bank - UAE
- Australian Commodity Traders Exchange
- Kideco Jaya Agung - Indonesia
- Mercator Lines Limited - India
- ICICI Bank Limited - India
- Renaissance Capital - South Africa
- Siam City Cement - Thailand
- Pendopo Energi Batubara - Indonesia
- Orica Mining Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Anglo American - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Barasentosa Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Coalindo Energy - Indonesia
- Edison Trading Spa - Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Baramulti Group, Indonesia
- Attock Cement Pakistan Limited
- Aboitiz Power Corporation - Philippines
- Agrawal Coal Company - India
- Romanian Commodities Exchange
- Gujarat Mineral Development Corp Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parry Sugars Refinery, India
- Bhoruka Overseas - Indonesia
- Oldendorff Carriers - Singapore
- Economic Council, Georgia
- OPG Power Generation Pvt Ltd - India
- Indonesian Coal Mining Association
- Central Java Power - Indonesia
- CIMB Investment Bank - Malaysia
- Altura Mining Limited, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Makarim & Taira - Indonesia
- Price Waterhouse Coopers - Russia
- Kepco SPC Power Corporation, Philippines
- MS Steel International - UAE
- SMG Consultants - Indonesia
- Merrill Lynch Commodities Europe
- Mintek Dendrill Indonesia
- Rio Tinto Coal - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- TeaM Sual Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Chettinad Cement Corporation Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Holcim Trading Pte Ltd - Singapore
- New Zealand Coal & Carbon
- Port Waratah Coal Services - Australia
- Vedanta Resources Plc - India
- Manunggal Multi Energi - Indonesia
- McConnell Dowell - Australia
- The University of Queensland
- Indogreen Group - Indonesia
- Bulk Trading Sa - Switzerland
- Billiton Holdings Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Global Coal Blending Company Limited - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Energy Link Ltd, New Zealand
- Tamil Nadu electricity Board
- Central Electricity Authority - India
- Mjunction Services Limited - India
- Eastern Coal Council - USA
- Energy Development Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Power Finance Corporation Ltd., India
- Therma Luzon, Inc, Philippines
- Aditya Birla Group - India
- Savvy Resources Ltd - HongKong
- Ministry of Finance - Indonesia
- Planning Commission, India
- Semirara Mining and Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining Corp, Philippines
- Sakthi Sugars Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PowerSource Philippines DevCo
- Carbofer General Trading SA - India
- Heidelberg Cement - Germany
- International Coal Ventures Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Dalmia Cement Bharat India
- Salva Resources Pvt Ltd - India
- Sojitz Corporation - Japan
- GAC Shipping (India) Pvt Ltd
- Indika Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- IHS Mccloskey Coal Group - USA
- Electricity Generating Authority of Thailand
- ASAPP Information Group - India
- Cigading International Bulk Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Energy Exchange, India
- Malabar Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- Madhucon Powers Ltd - India
- Wood Mackenzie - Singapore
- Bangladesh Power Developement Board
- Meralco Power Generation, Philippines
- Minerals Council of Australia
- Larsen & Toubro Limited - India
- GVK Power & Infra Limited - India
- Trasteel International SA, Italy
- Xindia Steels Limited - India
- PTC India Limited - India
- Georgia Ports Authority, United States
- Ind-Barath Power Infra Limited - India
- Eastern Energy - Thailand
- Maheswari Brothers Coal Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Bharathi Cement Corporation - India
- Sindya Power Generating Company Private Ltd
- Karbindo Abesyapradhi - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Commonwealth Bank - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Metalloyd Limited - United Kingdom
- Simpson Spence & Young - Indonesia
- Banpu Public Company Limited - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Directorate General of MIneral and Coal - Indonesia
- Tata Chemicals Ltd - India
- India Bulls Power Limited - India
- GMR Energy Limited - India
- Singapore Mercantile Exchange
- Indian Oil Corporation Limited
- White Energy Company Limited
- Neyveli Lignite Corporation Ltd, - India
- Orica Australia Pty. Ltd.
- Parliament of New Zealand
- Marubeni Corporation - India
- Gujarat Sidhee Cement - India
- Bukit Makmur.PT - Indonesia
- Sical Logistics Limited - India
- Electricity Authority, New Zealand
- Antam Resourcindo - Indonesia
- Vizag Seaport Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chamber of Mines of South Africa
- Bhatia International Limited - India
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