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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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Thursday, 26 January 23
AUSTRALIA'S CORONADO GLOBAL SEES COAL PRICES RISING ON RESUMING CHINA IMPORTS - REUTERS
Australia’s Coronado Global Resources said on Tuesday resuming metallurgical coal imports to China would likely push sea-borne coal prices hi ...
Monday, 23 January 23
CHINA'S MAJOR COAL-PRODUCING PROVINCE ACCELERATES DIGITAL TRANSFORMATION - XINHUA
At Chindata Group’s big-data industrial park in Lingqiu County of Datong City, hundreds of thousands of servers are running round-the-clock t ...
Monday, 23 January 23
CHINA'S COAL-RICH PROVINCE SEES COAL PRODUCTION INCREASE IN 2022 - XINHUA
North China’s coal-rich province of Shanxi saw its coal production hit 1.31 billion tonnes in 2022, up 8.7 percent year on year, local author ...
Wednesday, 18 January 23
MARKET INSIGHT - INTERMODAL
From Feb 5, another price cap will be introduced to Russian fuels and oil products, adding to the one for crude oil, already in place from Dec. 3. ...
Tuesday, 17 January 23
FRAUD IS THE BIGGEST THREAT TO CARGO LOSSES - TT CLUB
The almost exclusive use of online facilities to process business transactions allows a myriad of fraudulent pursuits to find opportunities within ...
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- Xindia Steels Limited - India
- Coastal Gujarat Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Rio Tinto Coal - Australia
- Wilmar Investment Holdings
- Meenaskhi Energy Private Limited - India
- Bulk Trading Sa - Switzerland
- OPG Power Generation Pvt Ltd - India
- Parry Sugars Refinery, India
- Energy Link Ltd, New Zealand
- Petron Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Videocon Industries ltd - India
- Goldman Sachs - Singapore
- Tamil Nadu electricity Board
- Heidelberg Cement - Germany
- Eastern Energy - Thailand
- Minerals Council of Australia
- Indian Oil Corporation Limited
- Pendopo Energi Batubara - Indonesia
- Ministry of Mines - Canada
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Sidhee Cement - India
- Sindya Power Generating Company Private Ltd
- Globalindo Alam Lestari - Indonesia
- The University of Queensland
- Indo Tambangraya Megah - Indonesia
- Sical Logistics Limited - India
- Maharashtra Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Anglo American - United Kingdom
- Kartika Selabumi Mining - Indonesia
- The State Trading Corporation of India Ltd
- Ministry of Transport, Egypt
- Chamber of Mines of South Africa
- Rashtriya Ispat Nigam Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sarangani Energy Corporation, Philippines
- Lanco Infratech Ltd - India
- Bhushan Steel Limited - India
- Larsen & Toubro Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Trasteel International SA, Italy
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement - Thailand
- Economic Council, Georgia
- Georgia Ports Authority, United States
- Barasentosa Lestari - Indonesia
- Marubeni Corporation - India
- Salva Resources Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Electricity Authority, New Zealand
- Global Business Power Corporation, Philippines
- The Treasury - Australian Government
- Electricity Generating Authority of Thailand
- McConnell Dowell - Australia
- Malabar Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Wood Mackenzie - Singapore
- Grasim Industreis Ltd - India
- Straits Asia Resources Limited - Singapore
- Borneo Indobara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Cigading International Bulk Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- Dalmia Cement Bharat India
- Carbofer General Trading SA - India
- Gujarat Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Ind-Barath Power Infra Limited - India
- Africa Commodities Group - South Africa
- Uttam Galva Steels Limited - India
- Interocean Group of Companies - India
- MS Steel International - UAE
- White Energy Company Limited
- Indogreen Group - Indonesia
- IHS Mccloskey Coal Group - USA
- Orica Mining Services - Indonesia
- Port Waratah Coal Services - Australia
- Bukit Makmur.PT - Indonesia
- PowerSource Philippines DevCo
- Agrawal Coal Company - India
- PNOC Exploration Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Mjunction Services Limited - India
- Global Coal Blending Company Limited - Australia
- Cement Manufacturers Association - India
- Bharathi Cement Corporation - India
- Latin American Coal - Colombia
- Mercator Lines Limited - India
- VISA Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining Corp, Philippines
- SMC Global Power, Philippines
- Aboitiz Power Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- New Zealand Coal & Carbon
- Ministry of Finance - Indonesia
- Sakthi Sugars Limited - India
- India Bulls Power Limited - India
- Central Electricity Authority - India
- Manunggal Multi Energi - Indonesia
- Orica Australia Pty. Ltd.
- Singapore Mercantile Exchange
- Sree Jayajothi Cements Limited - India
- Savvy Resources Ltd - HongKong
- Siam City Cement PLC, Thailand
- Binh Thuan Hamico - Vietnam
- Kobexindo Tractors - Indoneisa
- ICICI Bank Limited - India
- Ceylon Electricity Board - Sri Lanka
- Intertek Mineral Services - Indonesia
- Independent Power Producers Association of India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Coal Council - USA
- Coalindo Energy - Indonesia
- GVK Power & Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Chettinad Cement Corporation Ltd - India
- Standard Chartered Bank - UAE
- ASAPP Information Group - India
- Kaltim Prima Coal - Indonesia
- Price Waterhouse Coopers - Russia
- Krishnapatnam Port Company Ltd. - India
- Star Paper Mills Limited - India
- Maheswari Brothers Coal Limited - India
- Kideco Jaya Agung - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Renaissance Capital - South Africa
- Vizag Seaport Private Limited - India
- Coal and Oil Company - UAE
- Attock Cement Pakistan Limited
- Thai Mozambique Logistica
- European Bulk Services B.V. - Netherlands
- Bayan Resources Tbk. - Indonesia
- Bukit Baiduri Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thiess Contractors Indonesia
- Mintek Dendrill Indonesia
- Commonwealth Bank - Australia
- Medco Energi Mining Internasional
- CIMB Investment Bank - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Aditya Birla Group - India
- Metalloyd Limited - United Kingdom
- Power Finance Corporation Ltd., India
- Sojitz Corporation - Japan
- Kapuas Tunggal Persada - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Kumho Petrochemical, South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Banpu Public Company Limited - Thailand
- London Commodity Brokers - England
- Ambuja Cements Ltd - India
- Planning Commission, India
- Riau Bara Harum - Indonesia
- Baramulti Group, Indonesia
- Mercuria Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhatia International Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Java Power - Indonesia
- GMR Energy Limited - India
- Merrill Lynch Commodities Europe
- Indonesian Coal Mining Association
- PTC India Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Antam Resourcindo - Indonesia
- Deloitte Consulting - India
- IEA Clean Coal Centre - UK
- Energy Development Corp, Philippines
- Meralco Power Generation, Philippines
- Jaiprakash Power Ventures ltd
- Posco Energy - South Korea
- Holcim Trading Pte Ltd - Singapore
- Global Green Power PLC Corporation, Philippines
- CNBM International Corporation - China
- Edison Trading Spa - Italy
- Bangladesh Power Developement Board
- Timah Investasi Mineral - Indoneisa
- Karaikal Port Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Leighton Contractors Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Indian Energy Exchange, India
- Oldendorff Carriers - Singapore
- Romanian Commodities Exchange
- PetroVietnam Power Coal Import and Supply Company
- Samtan Co., Ltd - South Korea
- Australian Coal Association
- Gujarat Mineral Development Corp Ltd - India
- Tata Chemicals Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- TeaM Sual Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- SMG Consultants - Indonesia
- Therma Luzon, Inc, Philippines
- Vedanta Resources Plc - India
- Indika Energy - Indonesia
- Madhucon Powers Ltd - India
- Parliament of New Zealand
- Makarim & Taira - Indonesia
- Essar Steel Hazira Ltd - India
- Australian Commodity Traders Exchange
- Toyota Tsusho Corporation, Japan
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