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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, 02 August 24
COAL MARKET DEVELOPMENTS: FALLING PRICES AMID RECORD-HIGH OUTPUT - WORLD BANK
Coal prices inched up in May (m/m) following an 8 percent decline in 2024Q1. The Australian and South African benchmarks have plummeted more ...
Friday, 26 July 24
FUELEU MARITME IS COMING. IS YOUR CHARTERPARTY READY? - GARD
With less than six months to implementation of FuelEU Maritime in EU and EEA trades, there has been little published advice regarding how to alloca ...
Thursday, 04 July 24
INDIA'S COAL PRODUCTION RISES 14% IN JUNE - PTI
The country’s coal production rose by 14.49% to 84.63 million tonne (MT) in June. The country’s coal output was 73.92 MT in June last f ...
Tuesday, 02 July 24
NTPC CAPTIVE COAL OUTPUT GROWS 15% IN Q1; DESPATCH RISES 17%
State-owned NTPC on Monday reported a 15 per cent year-on-year increase in the production of coal from captives mines to 9.862 metric million tonne ...
Friday, 28 June 24
KOSPO INVITED BIDS FOR 400,000 MT OF MINIMUM 4000 NCV COAL FOR FIVE YEARS
Korea Southern Power Co., Ltd. (KOSPO), is inviting bids for total 400,000 MT of Low Calorific Value Coal for 5 years starting from July 2024 until ...
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- VISA Power Limited - India
- Cement Manufacturers Association - India
- Baramulti Group, Indonesia
- Economic Council, Georgia
- Altura Mining Limited, Indonesia
- Lanco Infratech Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Agrawal Coal Company - India
- Jorong Barutama Greston.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Sojitz Corporation - Japan
- Larsen & Toubro Limited - India
- Manunggal Multi Energi - Indonesia
- Medco Energi Mining Internasional
- Siam City Cement PLC, Thailand
- The University of Queensland
- Gujarat Sidhee Cement - India
- South Luzon Thermal Energy Corporation
- Kumho Petrochemical, South Korea
- Kapuas Tunggal Persada - Indonesia
- Xindia Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Mintek Dendrill Indonesia
- Iligan Light & Power Inc, Philippines
- Siam City Cement - Thailand
- Ceylon Electricity Board - Sri Lanka
- Holcim Trading Pte Ltd - Singapore
- Coastal Gujarat Power Limited - India
- Grasim Industreis Ltd - India
- CNBM International Corporation - China
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Planning Commission, India
- India Bulls Power Limited - India
- Karaikal Port Pvt Ltd - India
- GVK Power & Infra Limited - India
- Toyota Tsusho Corporation, Japan
- Indian Energy Exchange, India
- Carbofer General Trading SA - India
- SMC Global Power, Philippines
- LBH Netherlands Bv - Netherlands
- Romanian Commodities Exchange
- Anglo American - United Kingdom
- Kideco Jaya Agung - Indonesia
- Dalmia Cement Bharat India
- Energy Development Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Edison Trading Spa - Italy
- Aboitiz Power Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Posco Energy - South Korea
- Central Java Power - Indonesia
- Vedanta Resources Plc - India
- Cigading International Bulk Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Marubeni Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- Orica Australia Pty. Ltd.
- Billiton Holdings Pty Ltd - Australia
- Meralco Power Generation, Philippines
- San Jose City I Power Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Commonwealth Bank - Australia
- Ambuja Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maheswari Brothers Coal Limited - India
- Tata Chemicals Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- Rio Tinto Coal - Australia
- Semirara Mining and Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Indonesian Coal Mining Association
- Madhucon Powers Ltd - India
- Orica Mining Services - Indonesia
- Deloitte Consulting - India
- CIMB Investment Bank - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- Vizag Seaport Private Limited - India
- Banpu Public Company Limited - Thailand
- Indogreen Group - Indonesia
- Intertek Mineral Services - Indonesia
- Georgia Ports Authority, United States
- Mercator Lines Limited - India
- Jaiprakash Power Ventures ltd
- European Bulk Services B.V. - Netherlands
- Global Green Power PLC Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Indian Oil Corporation Limited
- GN Power Mariveles Coal Plant, Philippines
- Bharathi Cement Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Kaltim Prima Coal - Indonesia
- PTC India Limited - India
- Sindya Power Generating Company Private Ltd
- Semirara Mining Corp, Philippines
- Global Business Power Corporation, Philippines
- Parliament of New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Barasentosa Lestari - Indonesia
- SMG Consultants - Indonesia
- GAC Shipping (India) Pvt Ltd
- Indika Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- ICICI Bank Limited - India
- Kobexindo Tractors - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Riau Bara Harum - Indonesia
- Coal and Oil Company - UAE
- Formosa Plastics Group - Taiwan
- Videocon Industries ltd - India
- Meenaskhi Energy Private Limited - India
- Uttam Galva Steels Limited - India
- Merrill Lynch Commodities Europe
- White Energy Company Limited
- MS Steel International - UAE
- Miang Besar Coal Terminal - Indonesia
- Coalindo Energy - Indonesia
- Trasteel International SA, Italy
- Tamil Nadu electricity Board
- TeaM Sual Corporation - Philippines
- Bhatia International Limited - India
- Rashtriya Ispat Nigam Limited - India
- Price Waterhouse Coopers - Russia
- McConnell Dowell - Australia
- The Treasury - Australian Government
- Malabar Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- Africa Commodities Group - South Africa
- Wilmar Investment Holdings
- Metalloyd Limited - United Kingdom
- Australian Coal Association
- Star Paper Mills Limited - India
- Australian Commodity Traders Exchange
- Savvy Resources Ltd - HongKong
- Leighton Contractors Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Borneo Indobara - Indonesia
- Globalindo Alam Lestari - Indonesia
- Ministry of Transport, Egypt
- IEA Clean Coal Centre - UK
- Global Coal Blending Company Limited - Australia
- Makarim & Taira - Indonesia
- Bhoruka Overseas - Indonesia
- Aditya Birla Group - India
- Kalimantan Lumbung Energi - Indonesia
- Singapore Mercantile Exchange
- Goldman Sachs - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- The State Trading Corporation of India Ltd
- Sarangani Energy Corporation, Philippines
- Ministry of Finance - Indonesia
- Bhushan Steel Limited - India
- Electricity Authority, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercuria Energy - Indonesia
- ASAPP Information Group - India
- Standard Chartered Bank - UAE
- Renaissance Capital - South Africa
- Sree Jayajothi Cements Limited - India
- Sakthi Sugars Limited - India
- Bulk Trading Sa - Switzerland
- Kartika Selabumi Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- London Commodity Brokers - England
- Oldendorff Carriers - Singapore
- Energy Link Ltd, New Zealand
- Independent Power Producers Association of India
- Indo Tambangraya Megah - Indonesia
- Binh Thuan Hamico - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Simpson Spence & Young - Indonesia
- Directorate Of Revenue Intelligence - India
- Pendopo Energi Batubara - Indonesia
- Ministry of Mines - Canada
- Samtan Co., Ltd - South Korea
- Thiess Contractors Indonesia
- Sical Logistics Limited - India
- Therma Luzon, Inc, Philippines
- Bangladesh Power Developement Board
- Interocean Group of Companies - India
- Latin American Coal - Colombia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wood Mackenzie - Singapore
- Port Waratah Coal Services - Australia
- Eastern Coal Council - USA
- Central Electricity Authority - India
- Vijayanagar Sugar Pvt Ltd - India
- GMR Energy Limited - India
- Electricity Generating Authority of Thailand
- Thai Mozambique Logistica
- Attock Cement Pakistan Limited
- Kepco SPC Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Straits Asia Resources Limited - Singapore
- Antam Resourcindo - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Mjunction Services Limited - India
- Timah Investasi Mineral - Indoneisa
- Minerals Council of Australia
- Eastern Energy - Thailand
- Bukit Makmur.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Pipit Mutiara Jaya. PT, Indonesia
- Heidelberg Cement - Germany
- Petron Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Parry Sugars Refinery, India
- PowerSource Philippines DevCo
- Chamber of Mines of South Africa
- New Zealand Coal & Carbon
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