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Friday, 23 September 22
EUROPEAN STEEL BUYERS SEEK DIRECTION IN VOLATILE MARKET - MEPS INTERNATIONAL
Demand for steel is slow to recover, after the summer break. Mill production costs continue to increase. Steel purchasers are uncertain about the future direction of the market.
European steel buyers returned cautiously to the market, as the traditional summer break extended into early September. Inventory levels remain relatively high, for current demand. Sensing that the bottom of the current cycle had been reached, however, some purchasers placed orders for small quantities, to reduce their average stock value.
European steel prices continued to decline, last month. In late August and early September, the mills started to announce increases, in line with rising costs, across the carbon steel product range. These efforts were against the background of spiralling international energy values.
Major steel manufacturers led the way. Their efforts, initially, were undermined by certain producers seeking to fill their order books. Large, proposed increases were accompanied by a willingness to negotiate, or to extend the validity of previous prices, to their regular customers who had just returned from holiday. This eroded buyers’ confidence in the strength of such moves.
As order books weaken, steel mills are aligning production to apparent demand. Capacity cuts have been implemented, although perhaps not soon enough. Several blast furnaces have been taken offline, for extended periods. Rerollers are restricting production to night-time and weekend working, to control electricity consumption. As a consequence, delivery lead times are once again extending, rather than contracting.
Industry, as a whole, is looking to the authorities to address problems with energy supply and costs. The EU has announced measures to cap energy prices, partly funded by additional taxes on excess profits of energy providers. This should protect private consumers, to some extent. Policies show little detail for energy-intensive manufacturers. Some individual states have mandated a reduction in electricity usage.
In the UK, political decisions are delayed during the period of mourning for Her Late Majesty Queen Elizabeth II. A cap on domestic electricity costs has been announced. Further proposals, for industrial users, are reportedly in preparation.
The possibility of steelmakers implementing energy-related surcharges is again a topic of interest. Most market observers consider such a move to be impracticable for commodity grade steel. It is also extremely doubtful that producers who propose such a move would be willing to open their energy usage and supply contracts to the scrutiny such a clause would require.
Elevated energy costs are not isolated to primary steel producers. Oil, gas and electricity are used throughout the supply chain, resulting in incremental charges at each stage. Finally, it is the individual consumer who pays, or chooses not to. Escalating household energy costs and the subsequent drain on disposable income lead to reduced downstream steel demand. High inflation rates also restrict private expenditure.
Source: MEPS International Ltd
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Monday, 08 January 24
KOSPO TO BUY 80000 MT OF INDONESIAN LOW CALORIFIC VALUE COAL FOR FEB 2024
Korea Southern Power Co., Ltd. (KOSPO), is inviting bids for the supply of Indonesian Low Calorific Value Coal from qualified suppliers for Korean ...
Monday, 08 January 24
SEABORNE TRADE REACHES 12.4BN TONNES - CLARKSONS
China will establish a back-up coal production system by 2027 to stabilise prices and secure coal supply, the state planner said on Wednesday, even ...
Monday, 08 January 24
CAPESIZES START THE NEW YEAR ON POSITIVE NOTE - BALTIC EXCHANGE
Capesize
This week the capsize market has been marked by a mix of activities and challenges. Despite a slow start following the Christmas and N ...
Friday, 05 January 24
MORGAN STANLEY SEES LOWER OIL PRICES IN 2024 ON OVERSUPPLY CONCERNS - REUTERS
Morgan Stanley sees Brent crude prices anchored near $80 per barrel in the first half in 2024 before declining towards the end of the year as it ex ...
Friday, 05 January 24
INDIA'S COAL OUTPUT RISES NEARLY 11 PC IN DEC TO 92.87 MT - PTI
India’s coal production increased by 10.75 per cent to 92.87 million tonne in December 2023 as compared to the year-ago period, an official s ...
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- Coalindo Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Larsen & Toubro Limited - India
- Electricity Generating Authority of Thailand
- Renaissance Capital - South Africa
- Rashtriya Ispat Nigam Limited - India
- Port Waratah Coal Services - Australia
- Mercator Lines Limited - India
- Ambuja Cements Ltd - India
- Central Electricity Authority - India
- Xindia Steels Limited - India
- Price Waterhouse Coopers - Russia
- Sree Jayajothi Cements Limited - India
- Iligan Light & Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Ceylon Electricity Board - Sri Lanka
- ICICI Bank Limited - India
- India Bulls Power Limited - India
- Jindal Steel & Power Ltd - India
- Chettinad Cement Corporation Ltd - India
- IHS Mccloskey Coal Group - USA
- Kapuas Tunggal Persada - Indonesia
- Marubeni Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Essar Steel Hazira Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Coal and Oil Company - UAE
- Binh Thuan Hamico - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Bharathi Cement Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Carbofer General Trading SA - India
- Toyota Tsusho Corporation, Japan
- SMG Consultants - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Kumho Petrochemical, South Korea
- Kideco Jaya Agung - Indonesia
- Wood Mackenzie - Singapore
- Standard Chartered Bank - UAE
- Mercuria Energy - Indonesia
- Posco Energy - South Korea
- International Coal Ventures Pvt Ltd - India
- GVK Power & Infra Limited - India
- Samtan Co., Ltd - South Korea
- Borneo Indobara - Indonesia
- Lanco Infratech Ltd - India
- Bukit Makmur.PT - Indonesia
- Siam City Cement PLC, Thailand
- European Bulk Services B.V. - Netherlands
- Vizag Seaport Private Limited - India
- Goldman Sachs - Singapore
- Sinarmas Energy and Mining - Indonesia
- PTC India Limited - India
- Orica Mining Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Savvy Resources Ltd - HongKong
- Altura Mining Limited, Indonesia
- Dalmia Cement Bharat India
- Tata Chemicals Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Parry Sugars Refinery, India
- Mjunction Services Limited - India
- Billiton Holdings Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- Central Java Power - Indonesia
- Chamber of Mines of South Africa
- Sojitz Corporation - Japan
- Medco Energi Mining Internasional
- The State Trading Corporation of India Ltd
- Indogreen Group - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Timah Investasi Mineral - Indoneisa
- Tamil Nadu electricity Board
- PNOC Exploration Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- ASAPP Information Group - India
- Rio Tinto Coal - Australia
- Malabar Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- Global Green Power PLC Corporation, Philippines
- Anglo American - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- Indian Energy Exchange, India
- Leighton Contractors Pty Ltd - Australia
- Attock Cement Pakistan Limited
- GAC Shipping (India) Pvt Ltd
- Kepco SPC Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Ministry of Mines - Canada
- Edison Trading Spa - Italy
- Manunggal Multi Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Energy Link Ltd, New Zealand
- New Zealand Coal & Carbon
- The University of Queensland
- Australian Coal Association
- Uttam Galva Steels Limited - India
- MS Steel International - UAE
- Asmin Koalindo Tuhup - Indonesia
- Latin American Coal - Colombia
- Barasentosa Lestari - Indonesia
- London Commodity Brokers - England
- Ind-Barath Power Infra Limited - India
- Parliament of New Zealand
- Siam City Cement - Thailand
- Trasteel International SA, Italy
- LBH Netherlands Bv - Netherlands
- Indika Energy - Indonesia
- Indian Oil Corporation Limited
- Bhushan Steel Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Maheswari Brothers Coal Limited - India
- Kaltim Prima Coal - Indonesia
- Heidelberg Cement - Germany
- GMR Energy Limited - India
- Singapore Mercantile Exchange
- Meralco Power Generation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Aboitiz Power Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Romanian Commodities Exchange
- Agrawal Coal Company - India
- Antam Resourcindo - Indonesia
- Global Coal Blending Company Limited - Australia
- Bhatia International Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petron Corporation, Philippines
- Power Finance Corporation Ltd., India
- Thai Mozambique Logistica
- Intertek Mineral Services - Indonesia
- Australian Commodity Traders Exchange
- White Energy Company Limited
- Gujarat Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Grasim Industreis Ltd - India
- Videocon Industries ltd - India
- Sical Logistics Limited - India
- Eastern Coal Council - USA
- Mintek Dendrill Indonesia
- Thiess Contractors Indonesia
- Indo Tambangraya Megah - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TeaM Sual Corporation - Philippines
- Deloitte Consulting - India
- Minerals Council of Australia
- Aditya Birla Group - India
- SMC Global Power, Philippines
- Kobexindo Tractors - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Sakthi Sugars Limited - India
- Interocean Group of Companies - India
- Formosa Plastics Group - Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate General of MIneral and Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Merrill Lynch Commodities Europe
- Salva Resources Pvt Ltd - India
- Georgia Ports Authority, United States
- Economic Council, Georgia
- Bahari Cakrawala Sebuku - Indonesia
- Orica Australia Pty. Ltd.
- Jaiprakash Power Ventures ltd
- Bangladesh Power Developement Board
- Oldendorff Carriers - Singapore
- San Jose City I Power Corp, Philippines
- Vedanta Resources Plc - India
- Globalindo Alam Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Simpson Spence & Young - Indonesia
- Bayan Resources Tbk. - Indonesia
- Independent Power Producers Association of India
- VISA Power Limited - India
- Gujarat Sidhee Cement - India
- Coastal Gujarat Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Planning Commission, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Energy - Thailand
- Star Paper Mills Limited - India
- McConnell Dowell - Australia
- Madhucon Powers Ltd - India
- PowerSource Philippines DevCo
- Baramulti Group, Indonesia
- Cement Manufacturers Association - India
- Straits Asia Resources Limited - Singapore
- Commonwealth Bank - Australia
- Africa Commodities Group - South Africa
- Electricity Authority, New Zealand
- CNBM International Corporation - China
- Indonesian Coal Mining Association
- Metalloyd Limited - United Kingdom
- Karaikal Port Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- The Treasury - Australian Government
- Directorate Of Revenue Intelligence - India
- Ministry of Finance - Indonesia
- Wilmar Investment Holdings
- Bukit Baiduri Energy - Indonesia
- Makarim & Taira - Indonesia
- Energy Development Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Ministry of Transport, Egypt
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