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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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Tuesday, 17 January 23
CHINA'S SHANXI TARGETS 2023 COAL PRODUCTION OF NEARLY 1.37B TONS - XINHUA
China’s coal-rich province of Shanxi has set a coal production target of nearly 1.37 billion metric tons for 2023, according to a government ...
Tuesday, 17 January 23
MARKET INSIGHT - INTERMODAL
Rumor has it that the New Year has come, to set the pace in, for Russia to continue hostilities against Ukraine. Ten months on the go, into Russia& ...
Tuesday, 17 January 23
INDONESIA IS ACCOUNTING FOR 32.3% OF THE GLOBAL SEABORNE COAL MARKET IN 2022 - BENCHERO COSTA
After a slow start in the first quarter, global coal trade has really picked up pace last year, and is now fully back to pre-Covid levels, Benchero ...
Tuesday, 10 January 23
INDONESIAN HBA IS SEEING A SPIKE IN JANUARY 2023 INSTEAD OF A SIGNIFICANT FALL IN DECEMBER 2022
COALspot.com: Indonesian Coal Price Reference up 8.43% in January 2023.
HBA is seeing a dramatic spike in January 2023 i ...
Sunday, 08 January 23
INDIAN COAL POWER PLANTS SHOULD BE COMPENSATED FOR 2022 FORCED GENERATION – REGULATOR : REUTERS
Indian power plants that rely on imported coal should be fully compensated when forced to supply electricity, the country’s power regulator s ...
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- Ministry of Mines - Canada
- Sakthi Sugars Limited - India
- GN Power Mariveles Coal Plant, Philippines
- GAC Shipping (India) Pvt Ltd
- Indian Oil Corporation Limited
- Kalimantan Lumbung Energi - Indonesia
- GVK Power & Infra Limited - India
- CIMB Investment Bank - Malaysia
- Jaiprakash Power Ventures ltd
- Toyota Tsusho Corporation, Japan
- Maheswari Brothers Coal Limited - India
- VISA Power Limited - India
- Minerals Council of Australia
- New Zealand Coal & Carbon
- Sinarmas Energy and Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Africa Commodities Group - South Africa
- IHS Mccloskey Coal Group - USA
- Semirara Mining and Power Corporation, Philippines
- Eastern Energy - Thailand
- Krishnapatnam Port Company Ltd. - India
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Sidhee Cement - India
- Coal and Oil Company - UAE
- Bhoruka Overseas - Indonesia
- Ambuja Cements Ltd - India
- SMG Consultants - Indonesia
- Ind-Barath Power Infra Limited - India
- TeaM Sual Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Vizag Seaport Private Limited - India
- Renaissance Capital - South Africa
- Indika Energy - Indonesia
- Medco Energi Mining Internasional
- Salva Resources Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sical Logistics Limited - India
- Coalindo Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Xindia Steels Limited - India
- Tamil Nadu electricity Board
- London Commodity Brokers - England
- Iligan Light & Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Orica Mining Services - Indonesia
- Bhatia International Limited - India
- Savvy Resources Ltd - HongKong
- Planning Commission, India
- Posco Energy - South Korea
- Bangladesh Power Developement Board
- Energy Development Corp, Philippines
- Commonwealth Bank - Australia
- Rio Tinto Coal - Australia
- Aditya Birla Group - India
- Chettinad Cement Corporation Ltd - India
- Energy Link Ltd, New Zealand
- Latin American Coal - Colombia
- Intertek Mineral Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Semirara Mining Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Cement Manufacturers Association - India
- Interocean Group of Companies - India
- IEA Clean Coal Centre - UK
- Neyveli Lignite Corporation Ltd, - India
- Baramulti Group, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- The State Trading Corporation of India Ltd
- PowerSource Philippines DevCo
- White Energy Company Limited
- PNOC Exploration Corporation - Philippines
- Videocon Industries ltd - India
- Riau Bara Harum - Indonesia
- Indo Tambangraya Megah - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Parliament of New Zealand
- Thiess Contractors Indonesia
- Indonesian Coal Mining Association
- Trasteel International SA, Italy
- Chamber of Mines of South Africa
- Ministry of Finance - Indonesia
- Grasim Industreis Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Global Green Power PLC Corporation, Philippines
- Mjunction Services Limited - India
- Heidelberg Cement - Germany
- SN Aboitiz Power Inc, Philippines
- Agrawal Coal Company - India
- Central Electricity Authority - India
- Singapore Mercantile Exchange
- Siam City Cement - Thailand
- Banpu Public Company Limited - Thailand
- OPG Power Generation Pvt Ltd - India
- Star Paper Mills Limited - India
- Makarim & Taira - Indonesia
- Malabar Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Kepco SPC Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Siam City Cement PLC, Thailand
- Metalloyd Limited - United Kingdom
- Madhucon Powers Ltd - India
- Straits Asia Resources Limited - Singapore
- Australian Commodity Traders Exchange
- Deloitte Consulting - India
- Electricity Authority, New Zealand
- PTC India Limited - India
- Kaltim Prima Coal - Indonesia
- SMC Global Power, Philippines
- Altura Mining Limited, Indonesia
- Bukit Makmur.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Merrill Lynch Commodities Europe
- Parry Sugars Refinery, India
- Larsen & Toubro Limited - India
- Leighton Contractors Pty Ltd - Australia
- Indogreen Group - Indonesia
- Barasentosa Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Thai Mozambique Logistica
- Binh Thuan Hamico - Vietnam
- Electricity Generating Authority of Thailand
- Billiton Holdings Pty Ltd - Australia
- Sojitz Corporation - Japan
- Vedanta Resources Plc - India
- Coastal Gujarat Power Limited - India
- Romanian Commodities Exchange
- The Treasury - Australian Government
- Karbindo Abesyapradhi - Indoneisa
- Mercator Lines Limited - India
- Standard Chartered Bank - UAE
- India Bulls Power Limited - India
- Bayan Resources Tbk. - Indonesia
- International Coal Ventures Pvt Ltd - India
- Mintek Dendrill Indonesia
- The University of Queensland
- Kumho Petrochemical, South Korea
- Bulk Trading Sa - Switzerland
- Georgia Ports Authority, United States
- GMR Energy Limited - India
- Mercuria Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Energy Exchange, India
- Ceylon Electricity Board - Sri Lanka
- Sree Jayajothi Cements Limited - India
- Therma Luzon, Inc, Philippines
- Attock Cement Pakistan Limited
- Global Business Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kartika Selabumi Mining - Indonesia
- Simpson Spence & Young - Indonesia
- Pendopo Energi Batubara - Indonesia
- Wood Mackenzie - Singapore
- Price Waterhouse Coopers - Russia
- Port Waratah Coal Services - Australia
- Goldman Sachs - Singapore
- Bharathi Cement Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Edison Trading Spa - Italy
- Kohat Cement Company Ltd. - Pakistan
- Dalmia Cement Bharat India
- San Jose City I Power Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kobexindo Tractors - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Carbofer General Trading SA - India
- Alfred C Toepfer International GmbH - Germany
- ASAPP Information Group - India
- Jindal Steel & Power Ltd - India
- Marubeni Corporation - India
- Independent Power Producers Association of India
- Tata Chemicals Ltd - India
- Economic Council, Georgia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Power Finance Corporation Ltd., India
- Manunggal Multi Energi - Indonesia
- Borneo Indobara - Indonesia
- European Bulk Services B.V. - Netherlands
- Central Java Power - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Anglo American - United Kingdom
- McConnell Dowell - Australia
- Sarangani Energy Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Wilmar Investment Holdings
- Miang Besar Coal Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- MS Steel International - UAE
- Petron Corporation, Philippines
- CNBM International Corporation - China
- Bukit Baiduri Energy - Indonesia
- Ministry of Transport, Egypt
- Timah Investasi Mineral - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Directorate Of Revenue Intelligence - India
- Eastern Coal Council - USA
- South Luzon Thermal Energy Corporation
- Oldendorff Carriers - Singapore
- Australian Coal Association
- Meralco Power Generation, Philippines
- Global Coal Blending Company Limited - Australia
- ICICI Bank Limited - India
- Lanco Infratech Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Bhushan Steel Limited - India
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