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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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Friday, 02 December 22
INDONESIAN COAL PRICE REFERENCE PLUNGE TOWARD US$ 281.48 A TON AS DEMAND DROPS WORLDWIDE
COALspot.com: The cost of coal is falling so fast that it is beginning to put real money back in the pockets of end-users.
Indonesia ...
Wednesday, 30 November 22
INDONESIA’S BUMI RESOURCES TARGETS 2023 COAL OUTPUT OF 80 MLN TONNES - REUTERS
Indonesian coal miner PT Bumi Resources Tbk BUMI.JKis eyeing a 10% increase in output to 80 million tonnes next year amid expectations for more fav ...
Wednesday, 30 November 22
TANKERS: LONGER HAULS TO SUPPORT CONTINUED STRENGTH - BIMCO
Highlights
A rebound in the dirty tanker trade has led the Baltic Exchange Dirty Index (BDTI) to increase by 64% since our last report from mid ...
Wednesday, 30 November 22
MARKET INSIGHT - INTERMODAL
Shipping, although a conservative and innovation adverse industry, is currently in a transition period of digital transformation. According to a su ...
Tuesday, 29 November 22
INDIA TO RECEIVE FIRST LNG CARGO FROM INDONESIA’S TANGGUH LNG - REUTERS
India will receive its first cargo from Indonesia’s Tangguh liquefied natural gas (LNG) plant at the Dahej terminal on Monday, according to a ...
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- Cigading International Bulk Terminal - Indonesia
- Attock Cement Pakistan Limited
- Chettinad Cement Corporation Ltd - India
- The University of Queensland
- Coastal Gujarat Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement - Thailand
- Singapore Mercantile Exchange
- Ceylon Electricity Board - Sri Lanka
- Indian Oil Corporation Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Xindia Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Sakthi Sugars Limited - India
- Economic Council, Georgia
- GN Power Mariveles Coal Plant, Philippines
- Mercator Lines Limited - India
- Ind-Barath Power Infra Limited - India
- Star Paper Mills Limited - India
- Ministry of Finance - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Kaltim Prima Coal - Indonesia
- Ministry of Transport, Egypt
- Romanian Commodities Exchange
- New Zealand Coal & Carbon
- Trasteel International SA, Italy
- Banpu Public Company Limited - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Parliament of New Zealand
- Deloitte Consulting - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Australia Pty. Ltd.
- Jorong Barutama Greston.PT - Indonesia
- Coal and Oil Company - UAE
- LBH Netherlands Bv - Netherlands
- Bukit Makmur.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- Minerals Council of Australia
- Bharathi Cement Corporation - India
- Uttam Galva Steels Limited - India
- The Treasury - Australian Government
- Metalloyd Limited - United Kingdom
- MS Steel International - UAE
- Kalimantan Lumbung Energi - Indonesia
- Bangladesh Power Developement Board
- Cement Manufacturers Association - India
- Bukit Asam (Persero) Tbk - Indonesia
- Indogreen Group - Indonesia
- IHS Mccloskey Coal Group - USA
- Altura Mining Limited, Indonesia
- Kideco Jaya Agung - Indonesia
- Posco Energy - South Korea
- Gujarat Sidhee Cement - India
- Carbofer General Trading SA - India
- Kepco SPC Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Therma Luzon, Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Edison Trading Spa - Italy
- Aboitiz Power Corporation - Philippines
- Electricity Generating Authority of Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Wood Mackenzie - Singapore
- Sinarmas Energy and Mining - Indonesia
- Mjunction Services Limited - India
- Parry Sugars Refinery, India
- Bhushan Steel Limited - India
- Indika Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Heidelberg Cement - Germany
- OPG Power Generation Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Tata Chemicals Ltd - India
- Electricity Authority, New Zealand
- Sojitz Corporation - Japan
- European Bulk Services B.V. - Netherlands
- Indian Energy Exchange, India
- GAC Shipping (India) Pvt Ltd
- Tamil Nadu electricity Board
- Directorate Of Revenue Intelligence - India
- Ministry of Mines - Canada
- South Luzon Thermal Energy Corporation
- Sarangani Energy Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining Corp, Philippines
- Latin American Coal - Colombia
- Merrill Lynch Commodities Europe
- Rashtriya Ispat Nigam Limited - India
- Holcim Trading Pte Ltd - Singapore
- Marubeni Corporation - India
- ASAPP Information Group - India
- Karbindo Abesyapradhi - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Borneo Indobara - Indonesia
- Mintek Dendrill Indonesia
- Jaiprakash Power Ventures ltd
- Agrawal Coal Company - India
- Indo Tambangraya Megah - Indonesia
- IEA Clean Coal Centre - UK
- Manunggal Multi Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- SMC Global Power, Philippines
- SN Aboitiz Power Inc, Philippines
- Africa Commodities Group - South Africa
- Karaikal Port Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Malabar Cements Ltd - India
- Energy Link Ltd, New Zealand
- Global Green Power PLC Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Formosa Plastics Group - Taiwan
- Global Coal Blending Company Limited - Australia
- Central Java Power - Indonesia
- Makarim & Taira - Indonesia
- Vizag Seaport Private Limited - India
- VISA Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Alfred C Toepfer International GmbH - Germany
- Georgia Ports Authority, United States
- Madhucon Powers Ltd - India
- Kartika Selabumi Mining - Indonesia
- Antam Resourcindo - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Lanco Infratech Ltd - India
- Power Finance Corporation Ltd., India
- Thiess Contractors Indonesia
- Anglo American - United Kingdom
- Wilmar Investment Holdings
- Aditya Birla Group - India
- Riau Bara Harum - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Electricity Authority - India
- International Coal Ventures Pvt Ltd - India
- Sical Logistics Limited - India
- Samtan Co., Ltd - South Korea
- Binh Thuan Hamico - Vietnam
- Bhatia International Limited - India
- GMR Energy Limited - India
- Bhoruka Overseas - Indonesia
- TeaM Sual Corporation - Philippines
- Baramulti Group, Indonesia
- Vedanta Resources Plc - India
- Petron Corporation, Philippines
- Australian Commodity Traders Exchange
- Indonesian Coal Mining Association
- PTC India Limited - India
- Meenaskhi Energy Private Limited - India
- Eastern Coal Council - USA
- Kumho Petrochemical, South Korea
- Essar Steel Hazira Ltd - India
- London Commodity Brokers - England
- Videocon Industries ltd - India
- Kobexindo Tractors - Indoneisa
- The State Trading Corporation of India Ltd
- Ambuja Cements Ltd - India
- Siam City Cement PLC, Thailand
- Interocean Group of Companies - India
- Renaissance Capital - South Africa
- Semirara Mining and Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Goldman Sachs - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chamber of Mines of South Africa
- Port Waratah Coal Services - Australia
- Oldendorff Carriers - Singapore
- Kohat Cement Company Ltd. - Pakistan
- GVK Power & Infra Limited - India
- Bulk Trading Sa - Switzerland
- Sree Jayajothi Cements Limited - India
- Independent Power Producers Association of India
- Salva Resources Pvt Ltd - India
- Larsen & Toubro Limited - India
- Dalmia Cement Bharat India
- Asmin Koalindo Tuhup - Indonesia
- Australian Coal Association
- White Energy Company Limited
- SMG Consultants - Indonesia
- Timah Investasi Mineral - Indoneisa
- Energy Development Corp, Philippines
- Rio Tinto Coal - Australia
- AsiaOL BioFuels Corp., Philippines
- Medco Energi Mining Internasional
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Energy - Thailand
- Orica Mining Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Grasim Industreis Ltd - India
- CNBM International Corporation - China
- India Bulls Power Limited - India
- Planning Commission, India
- Jindal Steel & Power Ltd - India
- Mercuria Energy - Indonesia
- Global Business Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Iligan Light & Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- ICICI Bank Limited - India
- Barasentosa Lestari - Indonesia
- PowerSource Philippines DevCo
- Intertek Mineral Services - Indonesia
- CIMB Investment Bank - Malaysia
- Commonwealth Bank - Australia
- Thai Mozambique Logistica
- Pendopo Energi Batubara - Indonesia
- Coalindo Energy - Indonesia
- Price Waterhouse Coopers - Russia
- McConnell Dowell - Australia
- Standard Chartered Bank - UAE
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