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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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Wednesday, 07 December 22
MARKET INSIGHT - INTERMODAL
China’s coal imports from January to October were 230.1m mt, a decrease of around 10.7% y-o-y (2021 totalled 323.2m mt). The question is if t ...
Wednesday, 07 December 22
INDIA'S STEEL MINISTRY SEEKS IMPORT TAX WAIVER FOR COKING COAL - SOURCES REUTERS REPORTED
India’s steel ministry has asked the finance ministry for a waiver of import tax on coking coal among a slew of raw materials, as it scramble ...
Tuesday, 06 December 22
INDIA'S COAL PRODUCTION RISES 17% IN APR-NOV PERIOD - PTI
The country’s coal production increased 17 per cent to 524.20 million tonnes in the April-November period of the ongoing fiscal.
...
Tuesday, 06 December 22
INDONESIA AIMS TO STARTS COLLECTING COAL LEVY IN Q1 2023 - MINISTER, REUTERS REPORTED
Indonesia aims to establish a coal fund agency and start collecting a coal levy in the first quarter next year, to help ensure supply security for ...
Saturday, 03 December 22
COMPLEX RUSSIAN PRICE CAP MAKES MARITIME VISIBILITY A MUST - WINDWARD
Many commentators and analysts are speculating about the potential impact the Russian seaborne oil price cap will have on organizations and entitie ...
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- Directorate General of MIneral and Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Agrawal Coal Company - India
- New Zealand Coal & Carbon
- White Energy Company Limited
- GN Power Mariveles Coal Plant, Philippines
- GMR Energy Limited - India
- Siam City Cement - Thailand
- Sindya Power Generating Company Private Ltd
- Altura Mining Limited, Indonesia
- Metalloyd Limited - United Kingdom
- LBH Netherlands Bv - Netherlands
- Straits Asia Resources Limited - Singapore
- Intertek Mineral Services - Indonesia
- Independent Power Producers Association of India
- Anglo American - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Port Waratah Coal Services - Australia
- SMC Global Power, Philippines
- Rashtriya Ispat Nigam Limited - India
- Central Java Power - Indonesia
- Aditya Birla Group - India
- Miang Besar Coal Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Mjunction Services Limited - India
- Indo Tambangraya Megah - Indonesia
- Wood Mackenzie - Singapore
- Energy Development Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Romanian Commodities Exchange
- The Treasury - Australian Government
- Kartika Selabumi Mining - Indonesia
- London Commodity Brokers - England
- Aboitiz Power Corporation - Philippines
- Indian Energy Exchange, India
- Alfred C Toepfer International GmbH - Germany
- Coastal Gujarat Power Limited - India
- Electricity Authority, New Zealand
- San Jose City I Power Corp, Philippines
- Attock Cement Pakistan Limited
- Indian Oil Corporation Limited
- Kobexindo Tractors - Indoneisa
- Eastern Energy - Thailand
- Ministry of Transport, Egypt
- Edison Trading Spa - Italy
- SMG Consultants - Indonesia
- Chamber of Mines of South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Renaissance Capital - South Africa
- Indogreen Group - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Coal and Oil Company - UAE
- Orica Australia Pty. Ltd.
- MS Steel International - UAE
- Xindia Steels Limited - India
- South Luzon Thermal Energy Corporation
- Lanco Infratech Ltd - India
- Power Finance Corporation Ltd., India
- Eastern Coal Council - USA
- Savvy Resources Ltd - HongKong
- Mercuria Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Mines - Canada
- Orica Mining Services - Indonesia
- India Bulls Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Bangladesh Power Developement Board
- Madhucon Powers Ltd - India
- Manunggal Multi Energi - Indonesia
- PowerSource Philippines DevCo
- Vizag Seaport Private Limited - India
- Parliament of New Zealand
- VISA Power Limited - India
- Marubeni Corporation - India
- Bhatia International Limited - India
- Malabar Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Iligan Light & Power Inc, Philippines
- Trasteel International SA, Italy
- Heidelberg Cement - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Carbofer General Trading SA - India
- Africa Commodities Group - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PTC India Limited - India
- Bhushan Steel Limited - India
- Samtan Co., Ltd - South Korea
- Sakthi Sugars Limited - India
- Australian Coal Association
- Borneo Indobara - Indonesia
- Gujarat Sidhee Cement - India
- Neyveli Lignite Corporation Ltd, - India
- Bharathi Cement Corporation - India
- PNOC Exploration Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Mintek Dendrill Indonesia
- Bhoruka Overseas - Indonesia
- Baramulti Group, Indonesia
- Formosa Plastics Group - Taiwan
- Electricity Generating Authority of Thailand
- Latin American Coal - Colombia
- Sarangani Energy Corporation, Philippines
- Videocon Industries ltd - India
- Minerals Council of Australia
- Jaiprakash Power Ventures ltd
- Wilmar Investment Holdings
- International Coal Ventures Pvt Ltd - India
- Sical Logistics Limited - India
- The University of Queensland
- Cement Manufacturers Association - India
- Kohat Cement Company Ltd. - Pakistan
- AsiaOL BioFuels Corp., Philippines
- Star Paper Mills Limited - India
- Larsen & Toubro Limited - India
- Ind-Barath Power Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Sinarmas Energy and Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Ambuja Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- Global Business Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Standard Chartered Bank - UAE
- Chettinad Cement Corporation Ltd - India
- Deloitte Consulting - India
- Jindal Steel & Power Ltd - India
- Ministry of Finance - Indonesia
- CIMB Investment Bank - Malaysia
- Interocean Group of Companies - India
- Krishnapatnam Port Company Ltd. - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dalmia Cement Bharat India
- Kepco SPC Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Coalindo Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cigading International Bulk Terminal - Indonesia
- ASAPP Information Group - India
- Directorate Of Revenue Intelligence - India
- Riau Bara Harum - Indonesia
- Parry Sugars Refinery, India
- Bukit Makmur.PT - Indonesia
- McConnell Dowell - Australia
- Indonesian Coal Mining Association
- Maharashtra Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- Indika Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Meralco Power Generation, Philippines
- Posco Energy - South Korea
- Timah Investasi Mineral - Indoneisa
- Commonwealth Bank - Australia
- PetroVietnam Power Coal Import and Supply Company
- Kideco Jaya Agung - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Globalindo Alam Lestari - Indonesia
- Petron Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Vedanta Resources Plc - India
- Gujarat Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Siam City Cement PLC, Thailand
- Semirara Mining and Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Goldman Sachs - Singapore
- Kumho Petrochemical, South Korea
- Billiton Holdings Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Essar Steel Hazira Ltd - India
- Merrill Lynch Commodities Europe
- Pendopo Energi Batubara - Indonesia
- Tamil Nadu electricity Board
- Medco Energi Mining Internasional
- Georgia Ports Authority, United States
- Antam Resourcindo - Indonesia
- Tata Chemicals Ltd - India
- Banpu Public Company Limited - Thailand
- Semirara Mining Corp, Philippines
- Planning Commission, India
- Oldendorff Carriers - Singapore
- Sojitz Corporation - Japan
- Ceylon Electricity Board - Sri Lanka
- Bukit Baiduri Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Central Electricity Authority - India
- GAC Shipping (India) Pvt Ltd
- Barasentosa Lestari - Indonesia
- Rio Tinto Coal - Australia
- Thai Mozambique Logistica
- Thiess Contractors Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Meenaskhi Energy Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- ICICI Bank Limited - India
- Therma Luzon, Inc, Philippines
- GVK Power & Infra Limited - India
- The State Trading Corporation of India Ltd
- Energy Link Ltd, New Zealand
- Economic Council, Georgia
- Bayan Resources Tbk. - Indonesia
- Price Waterhouse Coopers - Russia
- CNBM International Corporation - China
- Mercator Lines Limited - India
- IEA Clean Coal Centre - UK
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Singapore Mercantile Exchange
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