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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, 13 December 22
AUSTRALIA TO CAP PRICES OF COAL, GAS TO DRIVE DOWN ENERGY BILLS - REUTERS
Australia will cap coal and gas prices for a year in a bid to shave utility bills for households and businesses hit by soaring costs because of the ...
Tuesday, 13 December 22
YANCOAL AUSTRALIA TO PREPAY $459 MLN DEBT AS RECORD COAL PRICES BOOST CASHFLOWS - REUTERS
Coal miner Yancoal Australia Ltd. said on Friday it intended to prepay $459 million of its debt on or around Dec. 16, as elevated coal prices were ...
Tuesday, 13 December 22
WHY COAL LEADS THE RISE IN COMMODITIES THIS YEAR - MARKETWATCH
This year marked a resurgence for coal, often known — and loathed — by environmentalists as the dirtiest energy source, with prices mor ...
Thursday, 08 December 22
BIMCO TO REVISE WAR RISK CLAUSES
Work to revise the BIMCO War Cancellation Clause 2004, the BIMCO War Risks Clause for Time Chartering 2013 (CONWARTIME 2013) and the BIMCO War Risk ...
Thursday, 08 December 22
COAL ROYALTY PAYMENTS BOOST AUSTRALIAN STATE'S BUDGET FORECAST - REUTERS
Australia’s Queensland state on Wednesday forecast a record surplus for the current financial year, largely driven by higher royalty payments ...
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- Tamil Nadu electricity Board
- Kumho Petrochemical, South Korea
- Kaltim Prima Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- GMR Energy Limited - India
- Romanian Commodities Exchange
- Salva Resources Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bharathi Cement Corporation - India
- European Bulk Services B.V. - Netherlands
- OPG Power Generation Pvt Ltd - India
- Marubeni Corporation - India
- Xindia Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Africa Commodities Group - South Africa
- Straits Asia Resources Limited - Singapore
- TeaM Sual Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Jaiprakash Power Ventures ltd
- Wood Mackenzie - Singapore
- Siam City Cement - Thailand
- South Luzon Thermal Energy Corporation
- Economic Council, Georgia
- Intertek Mineral Services - Indonesia
- Georgia Ports Authority, United States
- Petron Corporation, Philippines
- Sakthi Sugars Limited - India
- McConnell Dowell - Australia
- Jorong Barutama Greston.PT - Indonesia
- Riau Bara Harum - Indonesia
- Latin American Coal - Colombia
- Mintek Dendrill Indonesia
- Meralco Power Generation, Philippines
- Electricity Generating Authority of Thailand
- Maheswari Brothers Coal Limited - India
- Posco Energy - South Korea
- Kartika Selabumi Mining - Indonesia
- Power Finance Corporation Ltd., India
- Gujarat Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Altura Mining Limited, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IEA Clean Coal Centre - UK
- Dalmia Cement Bharat India
- Indonesian Coal Mining Association
- Oldendorff Carriers - Singapore
- Thiess Contractors Indonesia
- Coalindo Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Tata Chemicals Ltd - India
- The University of Queensland
- Metalloyd Limited - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Videocon Industries ltd - India
- SMG Consultants - Indonesia
- Anglo American - United Kingdom
- Medco Energi Mining Internasional
- Renaissance Capital - South Africa
- SN Aboitiz Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Thai Mozambique Logistica
- Chettinad Cement Corporation Ltd - India
- Bukit Baiduri Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rashtriya Ispat Nigam Limited - India
- ASAPP Information Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Ambuja Cements Ltd - India
- Port Waratah Coal Services - Australia
- Bhushan Steel Limited - India
- San Jose City I Power Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Sical Logistics Limited - India
- International Coal Ventures Pvt Ltd - India
- India Bulls Power Limited - India
- Aboitiz Power Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- SMC Global Power, Philippines
- LBH Netherlands Bv - Netherlands
- Mercuria Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Gujarat Sidhee Cement - India
- Vizag Seaport Private Limited - India
- Lanco Infratech Ltd - India
- Therma Luzon, Inc, Philippines
- Attock Cement Pakistan Limited
- Billiton Holdings Pty Ltd - Australia
- Parry Sugars Refinery, India
- CNBM International Corporation - China
- Bukit Makmur.PT - Indonesia
- Mercator Lines Limited - India
- Indian Energy Exchange, India
- Semirara Mining Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Standard Chartered Bank - UAE
- Meenaskhi Energy Private Limited - India
- Eastern Coal Council - USA
- PowerSource Philippines DevCo
- Gujarat Mineral Development Corp Ltd - India
- Carbofer General Trading SA - India
- Bulk Trading Sa - Switzerland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Simpson Spence & Young - Indonesia
- Baramulti Group, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- The State Trading Corporation of India Ltd
- Antam Resourcindo - Indonesia
- Parliament of New Zealand
- Holcim Trading Pte Ltd - Singapore
- Global Business Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Coastal Gujarat Power Limited - India
- Minerals Council of Australia
- Bayan Resources Tbk. - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Iligan Light & Power Inc, Philippines
- Electricity Authority, New Zealand
- Edison Trading Spa - Italy
- Kapuas Tunggal Persada - Indonesia
- Uttam Galva Steels Limited - India
- Banpu Public Company Limited - Thailand
- Central Electricity Authority - India
- ICICI Bank Limited - India
- Central Java Power - Indonesia
- Manunggal Multi Energi - Indonesia
- The Treasury - Australian Government
- Orica Australia Pty. Ltd.
- Singapore Mercantile Exchange
- Neyveli Lignite Corporation Ltd, - India
- Timah Investasi Mineral - Indoneisa
- Merrill Lynch Commodities Europe
- Pendopo Energi Batubara - Indonesia
- GVK Power & Infra Limited - India
- New Zealand Coal & Carbon
- Savvy Resources Ltd - HongKong
- London Commodity Brokers - England
- Energy Development Corp, Philippines
- Makarim & Taira - Indonesia
- Chamber of Mines of South Africa
- CIMB Investment Bank - Malaysia
- Star Paper Mills Limited - India
- Heidelberg Cement - Germany
- Directorate Of Revenue Intelligence - India
- Kohat Cement Company Ltd. - Pakistan
- GN Power Mariveles Coal Plant, Philippines
- Australian Commodity Traders Exchange
- Larsen & Toubro Limited - India
- Agrawal Coal Company - India
- Bangladesh Power Developement Board
- Directorate General of MIneral and Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Essar Steel Hazira Ltd - India
- Indian Oil Corporation Limited
- Kideco Jaya Agung - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Goldman Sachs - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Interocean Group of Companies - India
- Vedanta Resources Plc - India
- Kepco SPC Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Karaikal Port Pvt Ltd - India
- Ministry of Mines - Canada
- Bhatia International Limited - India
- Sree Jayajothi Cements Limited - India
- VISA Power Limited - India
- IHS Mccloskey Coal Group - USA
- Binh Thuan Hamico - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Sojitz Corporation - Japan
- Kobexindo Tractors - Indoneisa
- Orica Mining Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- PTC India Limited - India
- Barasentosa Lestari - Indonesia
- Deloitte Consulting - India
- Formosa Plastics Group - Taiwan
- PNOC Exploration Corporation - Philippines
- Cement Manufacturers Association - India
- Aditya Birla Group - India
- Cigading International Bulk Terminal - Indonesia
- Malabar Cements Ltd - India
- Planning Commission, India
- Vijayanagar Sugar Pvt Ltd - India
- Indika Energy - Indonesia
- White Energy Company Limited
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement PLC, Thailand
- Wilmar Investment Holdings
- Australian Coal Association
- Energy Link Ltd, New Zealand
- MS Steel International - UAE
- Trasteel International SA, Italy
- Ministry of Finance - Indonesia
- Indogreen Group - Indonesia
- Grasim Industreis Ltd - India
- Bhoruka Overseas - Indonesia
- Rio Tinto Coal - Australia
- Price Waterhouse Coopers - Russia
- Coal and Oil Company - UAE
- Eastern Energy - Thailand
- Miang Besar Coal Terminal - Indonesia
- Ministry of Transport, Egypt
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Toyota Tsusho Corporation, Japan
- Sinarmas Energy and Mining - Indonesia
- Commonwealth Bank - Australia
- Mjunction Services Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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