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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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Friday, 01 December 23
COAL MINERS GROUP EXPECTS INDONESIA’S 2023 COAL OUTPUT TO SURPASS TARGET - REUTERS
The Indonesian Coal Mining Association (ICMA) expects the country’s 2023 coal output to surpass the official target of 695 million metric ton ...
Friday, 24 November 23
COAL IMPORTS TO INDIA IN OCTOBER 2023 REACHED HIGHEST LEVELS IN NEARLY A YEAR AND A HALF - VESSELSVALUE, VESON NAUTICAL
In October, coal imports to India reached 13.8 mt in October 2023, according to Oceanbolt, a Veson Nautical solution, the highest level since May 2 ...
Friday, 24 November 23
COAL SHIPMENTS TO ADVANCED ECONOMIES DOWN 17% SO FAR IN 2023 - BIMCO
In the first ten months of 2023, coal shipments to advanced economies fell by 17% y/y, as demand for electricity declined and the share of electric ...
Friday, 24 November 23
INTELLIGENT COAL MINES CONTRIBUTE TO IMPROVING SAFETY STANDARDS - CHINA DAILY
Mechanization, automation and intelligent upgrades have contributed to improved safety in coal mines, though the level of development of intelligen ...
Friday, 24 November 23
WHY AUSTRALIA'S COAL MINES ARE GETTING BIGGER - IEEFA
Australia’s largest coal mines are getting larger. Mines in New South Wales (NSW) are ramping up production following the state’s recov ...
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- Independent Power Producers Association of India
- Indian Oil Corporation Limited
- The State Trading Corporation of India Ltd
- Bayan Resources Tbk. - Indonesia
- Medco Energi Mining Internasional
- Gujarat Sidhee Cement - India
- Romanian Commodities Exchange
- India Bulls Power Limited - India
- Kideco Jaya Agung - Indonesia
- Semirara Mining and Power Corporation, Philippines
- The University of Queensland
- Ministry of Transport, Egypt
- GAC Shipping (India) Pvt Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thai Mozambique Logistica
- Bangladesh Power Developement Board
- ICICI Bank Limited - India
- Larsen & Toubro Limited - India
- Chamber of Mines of South Africa
- Directorate General of MIneral and Coal - Indonesia
- Vedanta Resources Plc - India
- MS Steel International - UAE
- SMC Global Power, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Oldendorff Carriers - Singapore
- Alfred C Toepfer International GmbH - Germany
- Rio Tinto Coal - Australia
- Ministry of Finance - Indonesia
- Essar Steel Hazira Ltd - India
- Minerals Council of Australia
- Kartika Selabumi Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Bulk Trading Sa - Switzerland
- Metalloyd Limited - United Kingdom
- Attock Cement Pakistan Limited
- Timah Investasi Mineral - Indoneisa
- Economic Council, Georgia
- Global Green Power PLC Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Borneo Indobara - Indonesia
- Latin American Coal - Colombia
- Samtan Co., Ltd - South Korea
- Malabar Cements Ltd - India
- CIMB Investment Bank - Malaysia
- SN Aboitiz Power Inc, Philippines
- Tata Chemicals Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement - Thailand
- Electricity Authority, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jindal Steel & Power Ltd - India
- Global Coal Blending Company Limited - Australia
- Kalimantan Lumbung Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Sical Logistics Limited - India
- Karaikal Port Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Billiton Holdings Pty Ltd - Australia
- Baramulti Group, Indonesia
- Orica Australia Pty. Ltd.
- SMG Consultants - Indonesia
- Georgia Ports Authority, United States
- McConnell Dowell - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Planning Commission, India
- Maharashtra Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- Aditya Birla Group - India
- PNOC Exploration Corporation - Philippines
- Edison Trading Spa - Italy
- The Treasury - Australian Government
- Aboitiz Power Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Sakthi Sugars Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Agrawal Coal Company - India
- Karbindo Abesyapradhi - Indoneisa
- Sarangani Energy Corporation, Philippines
- Indika Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining Corp, Philippines
- Tamil Nadu electricity Board
- Ministry of Mines - Canada
- Chettinad Cement Corporation Ltd - India
- Power Finance Corporation Ltd., India
- Videocon Industries ltd - India
- Petron Corporation, Philippines
- PowerSource Philippines DevCo
- Coal and Oil Company - UAE
- Straits Asia Resources Limited - Singapore
- Bhatia International Limited - India
- Barasentosa Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Pendopo Energi Batubara - Indonesia
- Xindia Steels Limited - India
- CNBM International Corporation - China
- Cement Manufacturers Association - India
- Miang Besar Coal Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Lanco Infratech Ltd - India
- Meenaskhi Energy Private Limited - India
- Intertek Mineral Services - Indonesia
- Mintek Dendrill Indonesia
- Binh Thuan Hamico - Vietnam
- Australian Coal Association
- Indogreen Group - Indonesia
- Kaltim Prima Coal - Indonesia
- Bhushan Steel Limited - India
- European Bulk Services B.V. - Netherlands
- Jaiprakash Power Ventures ltd
- Carbofer General Trading SA - India
- Riau Bara Harum - Indonesia
- Central Java Power - Indonesia
- Energy Development Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Heidelberg Cement - Germany
- Leighton Contractors Pty Ltd - Australia
- Marubeni Corporation - India
- Bhoruka Overseas - Indonesia
- IEA Clean Coal Centre - UK
- GVK Power & Infra Limited - India
- Mercuria Energy - Indonesia
- Wood Mackenzie - Singapore
- Bharathi Cement Corporation - India
- Mjunction Services Limited - India
- Toyota Tsusho Corporation, Japan
- Simpson Spence & Young - Indonesia
- San Jose City I Power Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Ceylon Electricity Board - Sri Lanka
- Grasim Industreis Ltd - India
- Sojitz Corporation - Japan
- Singapore Mercantile Exchange
- Port Waratah Coal Services - Australia
- Africa Commodities Group - South Africa
- Central Electricity Authority - India
- Savvy Resources Ltd - HongKong
- International Coal Ventures Pvt Ltd - India
- Star Paper Mills Limited - India
- Parry Sugars Refinery, India
- Coalindo Energy - Indonesia
- Energy Link Ltd, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Meralco Power Generation, Philippines
- Kumho Petrochemical, South Korea
- Wilmar Investment Holdings
- Mercator Lines Limited - India
- Parliament of New Zealand
- Uttam Galva Steels Limited - India
- TeaM Sual Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Iligan Light & Power Inc, Philippines
- Indian Energy Exchange, India
- Formosa Plastics Group - Taiwan
- Eastern Energy - Thailand
- Dalmia Cement Bharat India
- Makarim & Taira - Indonesia
- Interocean Group of Companies - India
- AsiaOL BioFuels Corp., Philippines
- Kobexindo Tractors - Indoneisa
- Posco Energy - South Korea
- Deloitte Consulting - India
- Ind-Barath Power Infra Limited - India
- Salva Resources Pvt Ltd - India
- White Energy Company Limited
- Eastern Coal Council - USA
- Bukit Baiduri Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Sree Jayajothi Cements Limited - India
- New Zealand Coal & Carbon
- Indonesian Coal Mining Association
- Commonwealth Bank - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Globalindo Alam Lestari - Indonesia
- GMR Energy Limited - India
- Trasteel International SA, Italy
- Maheswari Brothers Coal Limited - India
- Thiess Contractors Indonesia
- Banpu Public Company Limited - Thailand
- Manunggal Multi Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- VISA Power Limited - India
- Merrill Lynch Commodities Europe
- Therma Luzon, Inc, Philippines
- Global Business Power Corporation, Philippines
- PTC India Limited - India
- Coastal Gujarat Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Renaissance Capital - South Africa
- Gujarat Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Madhucon Powers Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Indo Tambangraya Megah - Indonesia
- Goldman Sachs - Singapore
- Ambuja Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- ASAPP Information Group - India
- Electricity Generating Authority of Thailand
- Altura Mining Limited, Indonesia
- Kepco SPC Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- London Commodity Brokers - England
- Kapuas Tunggal Persada - Indonesia
- LBH Netherlands Bv - Netherlands
- Orica Mining Services - Indonesia
- Vizag Seaport Private Limited - India
- Anglo American - United Kingdom
- Siam City Cement PLC, Thailand
- Sinarmas Energy and Mining - Indonesia
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