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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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Monday, 25 October 21
CHINA VOWS TO SEVERELY PUNISH MARKET VIOLATIONS AMID LOW COAL FUTURES PRICES - GLOBAL TIMES
Domestic coal futures had plunged for three consecutive trading days after the government vowed to crack down on soaring prices, and China’s ...
Monday, 25 October 21
FARMERS MAY JOIN THE COAL COMMODITY MARKET TO REDUCE RISKS - GLOBAL TIMES
A recent trip to by the Global Times to East China’s Shandong Province to get a glimpse of China’s coal supply chain revealed a surpris ...
Monday, 25 October 21
CHINA COAL PRICES MARK WORST WEEK SINCE MAY ON GOVERNMENT INTERVENTION - REUTERS
China’s thermal coal futures plunged on Friday and turned in their worst week in five months, following Beijing’s strongest interventio ...
Friday, 22 October 21
THE BIG PICTURE: ENERGY MARKETS - BREAK WAVE ADVISORS
The shipping markets have been pulled further into wild markets of coal and other energy sources. Given how nebulous this sector is, it’s alw ...
Friday, 22 October 21
CHINA WANTS TO COOL COAL PRICES. SIMILAR MOVES FOR METALS, CRUDE FAILED - REUTERS
China’s latest attempt to lower runaway commodity prices, this time for thermal coal, is likely to follow a familiar pattern of initial succe ...
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- TNB Fuel Sdn Bhd - Malaysia
- Petron Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Eastern Energy - Thailand
- Orica Mining Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bhatia International Limited - India
- Bharathi Cement Corporation - India
- Aboitiz Power Corporation - Philippines
- Independent Power Producers Association of India
- Indonesian Coal Mining Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wood Mackenzie - Singapore
- Energy Link Ltd, New Zealand
- Attock Cement Pakistan Limited
- Global Green Power PLC Corporation, Philippines
- New Zealand Coal & Carbon
- Bhoruka Overseas - Indonesia
- Sindya Power Generating Company Private Ltd
- Maheswari Brothers Coal Limited - India
- Coastal Gujarat Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- Sinarmas Energy and Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Meralco Power Generation, Philippines
- CIMB Investment Bank - Malaysia
- Australian Commodity Traders Exchange
- Ministry of Mines - Canada
- ICICI Bank Limited - India
- Power Finance Corporation Ltd., India
- Bulk Trading Sa - Switzerland
- Maharashtra Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- OPG Power Generation Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- IHS Mccloskey Coal Group - USA
- ASAPP Information Group - India
- Iligan Light & Power Inc, Philippines
- Mercuria Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Simpson Spence & Young - Indonesia
- Merrill Lynch Commodities Europe
- Holcim Trading Pte Ltd - Singapore
- Chettinad Cement Corporation Ltd - India
- Jindal Steel & Power Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Larsen & Toubro Limited - India
- PowerSource Philippines DevCo
- Dalmia Cement Bharat India
- Chamber of Mines of South Africa
- Binh Thuan Hamico - Vietnam
- Kepco SPC Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Sical Logistics Limited - India
- Therma Luzon, Inc, Philippines
- Minerals Council of Australia
- MS Steel International - UAE
- SMG Consultants - Indonesia
- Vizag Seaport Private Limited - India
- Essar Steel Hazira Ltd - India
- Altura Mining Limited, Indonesia
- Carbofer General Trading SA - India
- Toyota Tsusho Corporation, Japan
- Alfred C Toepfer International GmbH - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Coal Blending Company Limited - Australia
- Petrochimia International Co. Ltd.- Taiwan
- GAC Shipping (India) Pvt Ltd
- Central Electricity Authority - India
- Manunggal Multi Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Electricity Generating Authority of Thailand
- Trasteel International SA, Italy
- IEA Clean Coal Centre - UK
- Siam City Cement - Thailand
- Heidelberg Cement - Germany
- India Bulls Power Limited - India
- Salva Resources Pvt Ltd - India
- Singapore Mercantile Exchange
- LBH Netherlands Bv - Netherlands
- Cement Manufacturers Association - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Mjunction Services Limited - India
- Georgia Ports Authority, United States
- Bhushan Steel Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Orica Australia Pty. Ltd.
- Miang Besar Coal Terminal - Indonesia
- Grasim Industreis Ltd - India
- Sree Jayajothi Cements Limited - India
- Bukit Makmur.PT - Indonesia
- Siam City Cement PLC, Thailand
- Romanian Commodities Exchange
- Indogreen Group - Indonesia
- Sarangani Energy Corporation, Philippines
- Bangladesh Power Developement Board
- Jorong Barutama Greston.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Thiess Contractors Indonesia
- Pendopo Energi Batubara - Indonesia
- Africa Commodities Group - South Africa
- Timah Investasi Mineral - Indoneisa
- Interocean Group of Companies - India
- Posco Energy - South Korea
- Tata Chemicals Ltd - India
- Medco Energi Mining Internasional
- Baramulti Group, Indonesia
- TeaM Sual Corporation - Philippines
- Ministry of Transport, Egypt
- Straits Asia Resources Limited - Singapore
- Videocon Industries ltd - India
- Karaikal Port Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Coalindo Energy - Indonesia
- Indika Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Anglo American - United Kingdom
- Banpu Public Company Limited - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Vedanta Resources Plc - India
- White Energy Company Limited
- GVK Power & Infra Limited - India
- San Jose City I Power Corp, Philippines
- Latin American Coal - Colombia
- Kapuas Tunggal Persada - Indonesia
- Lanco Infratech Ltd - India
- Energy Development Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Formosa Plastics Group - Taiwan
- The State Trading Corporation of India Ltd
- Indian Oil Corporation Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Commonwealth Bank - Australia
- London Commodity Brokers - England
- Madhucon Powers Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Vijayanagar Sugar Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- PTC India Limited - India
- Agrawal Coal Company - India
- Kideco Jaya Agung - Indonesia
- Indian Energy Exchange, India
- Goldman Sachs - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parliament of New Zealand
- Jaiprakash Power Ventures ltd
- Gujarat Sidhee Cement - India
- Sojitz Corporation - Japan
- South Luzon Thermal Energy Corporation
- Parry Sugars Refinery, India
- Meenaskhi Energy Private Limited - India
- Intertek Mineral Services - Indonesia
- Uttam Galva Steels Limited - India
- CNBM International Corporation - China
- Indo Tambangraya Megah - Indonesia
- SMC Global Power, Philippines
- McConnell Dowell - Australia
- Ambuja Cements Ltd - India
- Economic Council, Georgia
- Star Paper Mills Limited - India
- Deloitte Consulting - India
- Eastern Coal Council - USA
- Asmin Koalindo Tuhup - Indonesia
- Standard Chartered Bank - UAE
- Riau Bara Harum - Indonesia
- Borneo Indobara - Indonesia
- Directorate Of Revenue Intelligence - India
- The Treasury - Australian Government
- Edison Trading Spa - Italy
- Wilmar Investment Holdings
- Antam Resourcindo - Indonesia
- Oldendorff Carriers - Singapore
- Gujarat Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tamil Nadu electricity Board
- Global Business Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Savvy Resources Ltd - HongKong
- Metalloyd Limited - United Kingdom
- Xindia Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Ministry of Finance - Indonesia
- GMR Energy Limited - India
- Semirara Mining Corp, Philippines
- Thai Mozambique Logistica
- AsiaOL BioFuels Corp., Philippines
- PetroVietnam Power Coal Import and Supply Company
- Mintek Dendrill Indonesia
- Australian Coal Association
- Karbindo Abesyapradhi - Indoneisa
- Aditya Birla Group - India
- Price Waterhouse Coopers - Russia
- Malabar Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Mercator Lines Limited - India
- Kartika Selabumi Mining - Indonesia
- Electricity Authority, New Zealand
- Marubeni Corporation - India
- The University of Queensland
- VISA Power Limited - India
- Planning Commission, India
- Central Java Power - Indonesia
- Kobexindo Tractors - Indoneisa
- Coal and Oil Company - UAE
- Renaissance Capital - South Africa
- Port Waratah Coal Services - Australia
- Gujarat Mineral Development Corp Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Rio Tinto Coal - Australia
- Bayan Resources Tbk. - Indonesia
- PNOC Exploration Corporation - Philippines
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