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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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Sunday, 08 January 23
ELEVATED COAL PRICE A DRAG ON MARGINS OF DOMESTIC BASE METAL PLAYERS: ICRA
The increased price of coal continue to be a drag on the margin of domestic base metal players with no immediate relief in sight, rating agency ICR ...
Monday, 02 January 23
CHINA’S COAL CONSUMPTION TO PEAK BY 2035: REPORT - REUTERS
China’s primary energy consumption is likely to peak at nearly 6.03 billion tonnes of standard coal between 2030 and 2035, refining giant Chi ...
Thursday, 29 December 22
INDIA'S COAL DEMAND LIKELY TO PEAK BETWEEN 2030-2035: MINISTER - ANI
The demand for coal in India will continue and is likely to peak between 2030-2035, Union Minister of Coal, Mines, and Parliamentary Affairs Pralha ...
Thursday, 29 December 22
RIO TINTO AND PARTNERS COULD RECEIVE AS MUCH AS $450M IN GOVERNMENT COMPENSATION FOR COAL PRICE CAP - THE GUARDIAN
Compensation payments for the Gladstone power plant remain the sticking point in the federal government’s coal price cap compensation negotia ...
Wednesday, 28 December 22
MARKET INSIGHT - INTERMODAL
The United Nations Conference on Trade and Development (UNCTAD) published a Global Trade Update on December 13th highlighting that global trade wou ...
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- Riau Bara Harum - Indonesia
- Vizag Seaport Private Limited - India
- Oldendorff Carriers - Singapore
- Africa Commodities Group - South Africa
- Bayan Resources Tbk. - Indonesia
- Cement Manufacturers Association - India
- Indian Oil Corporation Limited
- Kepco SPC Power Corporation, Philippines
- The Treasury - Australian Government
- White Energy Company Limited
- IHS Mccloskey Coal Group - USA
- Meralco Power Generation, Philippines
- Chettinad Cement Corporation Ltd - India
- SMC Global Power, Philippines
- Karaikal Port Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- The State Trading Corporation of India Ltd
- Merrill Lynch Commodities Europe
- Banpu Public Company Limited - Thailand
- Port Waratah Coal Services - Australia
- Manunggal Multi Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement - Thailand
- Independent Power Producers Association of India
- Metalloyd Limited - United Kingdom
- Carbofer General Trading SA - India
- Price Waterhouse Coopers - Russia
- Ind-Barath Power Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Krishnapatnam Port Company Ltd. - India
- Madhucon Powers Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Deloitte Consulting - India
- Kideco Jaya Agung - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Orica Mining Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Savvy Resources Ltd - HongKong
- Siam City Cement PLC, Thailand
- Cigading International Bulk Terminal - Indonesia
- Borneo Indobara - Indonesia
- Mercator Lines Limited - India
- Thai Mozambique Logistica
- Essar Steel Hazira Ltd - India
- London Commodity Brokers - England
- GVK Power & Infra Limited - India
- Bhushan Steel Limited - India
- Trasteel International SA, Italy
- Chamber of Mines of South Africa
- Central Java Power - Indonesia
- Romanian Commodities Exchange
- Vedanta Resources Plc - India
- Indika Energy - Indonesia
- Eastern Energy - Thailand
- Salva Resources Pvt Ltd - India
- GMR Energy Limited - India
- Star Paper Mills Limited - India
- Heidelberg Cement - Germany
- Indogreen Group - Indonesia
- Parry Sugars Refinery, India
- Sinarmas Energy and Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- Formosa Plastics Group - Taiwan
- Simpson Spence & Young - Indonesia
- Standard Chartered Bank - UAE
- Sical Logistics Limited - India
- Mercuria Energy - Indonesia
- Singapore Mercantile Exchange
- Kohat Cement Company Ltd. - Pakistan
- Energy Link Ltd, New Zealand
- Electricity Authority, New Zealand
- Bukit Makmur.PT - Indonesia
- Posco Energy - South Korea
- Kapuas Tunggal Persada - Indonesia
- Iligan Light & Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Sakthi Sugars Limited - India
- Straits Asia Resources Limited - Singapore
- Bhoruka Overseas - Indonesia
- Electricity Generating Authority of Thailand
- Dalmia Cement Bharat India
- PTC India Limited - India
- Bharathi Cement Corporation - India
- Renaissance Capital - South Africa
- Power Finance Corporation Ltd., India
- Indian Energy Exchange, India
- Goldman Sachs - Singapore
- Rashtriya Ispat Nigam Limited - India
- Kartika Selabumi Mining - Indonesia
- New Zealand Coal & Carbon
- McConnell Dowell - Australia
- Jaiprakash Power Ventures ltd
- Uttam Galva Steels Limited - India
- Commonwealth Bank - Australia
- Sarangani Energy Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Sojitz Corporation - Japan
- The University of Queensland
- Indo Tambangraya Megah - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining and Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Larsen & Toubro Limited - India
- Bangladesh Power Developement Board
- GN Power Mariveles Coal Plant, Philippines
- Eastern Coal Council - USA
- Coal and Oil Company - UAE
- Malabar Cements Ltd - India
- Agrawal Coal Company - India
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Mines - Canada
- PetroVietnam Power Coal Import and Supply Company
- AsiaOL BioFuels Corp., Philippines
- Coalindo Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Parliament of New Zealand
- Therma Luzon, Inc, Philippines
- Thiess Contractors Indonesia
- Petron Corporation, Philippines
- Rio Tinto Coal - Australia
- International Coal Ventures Pvt Ltd - India
- Lanco Infratech Ltd - India
- Ministry of Finance - Indonesia
- PowerSource Philippines DevCo
- Minerals Council of Australia
- Orica Australia Pty. Ltd.
- Planning Commission, India
- Pendopo Energi Batubara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Barasentosa Lestari - Indonesia
- India Bulls Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Ambuja Cements Ltd - India
- Wood Mackenzie - Singapore
- IEA Clean Coal Centre - UK
- Kumho Petrochemical, South Korea
- CNBM International Corporation - China
- Altura Mining Limited, Indonesia
- Tamil Nadu electricity Board
- Timah Investasi Mineral - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Indonesian Coal Mining Association
- SMG Consultants - Indonesia
- Grasim Industreis Ltd - India
- Sindya Power Generating Company Private Ltd
- Global Coal Blending Company Limited - Australia
- Wilmar Investment Holdings
- Meenaskhi Energy Private Limited - India
- LBH Netherlands Bv - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining Corp, Philippines
- Edison Trading Spa - Italy
- OPG Power Generation Pvt Ltd - India
- VISA Power Limited - India
- Australian Coal Association
- Georgia Ports Authority, United States
- Mintek Dendrill Indonesia
- Samtan Co., Ltd - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Toyota Tsusho Corporation, Japan
- Baramulti Group, Indonesia
- Sree Jayajothi Cements Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Latin American Coal - Colombia
- Interocean Group of Companies - India
- South Luzon Thermal Energy Corporation
- Mjunction Services Limited - India
- Global Green Power PLC Corporation, Philippines
- Economic Council, Georgia
- SN Aboitiz Power Inc, Philippines
- Ministry of Transport, Egypt
- Maheswari Brothers Coal Limited - India
- Central Electricity Authority - India
- Bukit Asam (Persero) Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- CIMB Investment Bank - Malaysia
- Globalindo Alam Lestari - Indonesia
- Aditya Birla Group - India
- Billiton Holdings Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Holcim Trading Pte Ltd - Singapore
- Attock Cement Pakistan Limited
- Marubeni Corporation - India
- Bukit Baiduri Energy - Indonesia
- ASAPP Information Group - India
- Aboitiz Power Corporation - Philippines
- Videocon Industries ltd - India
- Binh Thuan Hamico - Vietnam
- ICICI Bank Limited - India
- Medco Energi Mining Internasional
- Australian Commodity Traders Exchange
- Xindia Steels Limited - India
- Anglo American - United Kingdom
- Jindal Steel & Power Ltd - India
- Kobexindo Tractors - Indoneisa
- Bhatia International Limited - India
- Bulk Trading Sa - Switzerland
- TeaM Sual Corporation - Philippines
- MS Steel International - UAE
- Kaltim Prima Coal - Indonesia
- Coastal Gujarat Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Ceylon Electricity Board - Sri Lanka
- San Jose City I Power Corp, Philippines
- Energy Development Corp, Philippines
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