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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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Monday, 24 June 24
PHILIPPINES COAL SUPPLY ENOUGH UNTIL 2030 - PHILSTAR GLOBAL
The country’s existing coal-fired power plants are sufficient to ensure enough base load capacity in the next six years, Energy Secretary Rap ...
Friday, 14 June 24
NEXTDECADE, SAUDI ARAMCO SIGN 20-YEAR LNG SUPPLY DEAL - REUTERS
U.S. liquefied natural gas (LNG) provider NextDecade has signed a non-binding agreement with Saudi Aramco 2222.SE to supply 1.2 million tonnes per ...
Friday, 14 June 24
NEWBUILDING PRICES CLIMB 3% TO HIGHEST LEVEL IN 16 YEARS - NIELS RASMUSSEN
“Since the start of the year, newbuilding prices have risen 3% to their highest level since 2008. Compared to their most recent low in late 2 ...
Friday, 14 June 24
INDIA TARGETS HIGHER DOMESTIC COAL PRODUCTION, REDUCED IMPORTS: GOVT - REUTERS
India wants to reduce coal imports and increase domestic production, federal coal minister G. Kishan Reddy said on Thursday.
The cou ...
Thursday, 13 June 24
US LNG TO ASIA FOR POWER GENERATION EXPECTED TO CUT EMISSIONS VERSUS COAL - RYSTAD ENERGY
The value-chain emissions of liquified natural gas (LNG) are lower on average than for coal-fired power generation, even when the fuel is shipp ...
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- Minerals Council of Australia
- Directorate Of Revenue Intelligence - India
- TeaM Sual Corporation - Philippines
- GVK Power & Infra Limited - India
- Formosa Plastics Group - Taiwan
- Singapore Mercantile Exchange
- Oldendorff Carriers - Singapore
- Georgia Ports Authority, United States
- Mercator Lines Limited - India
- Ministry of Mines - Canada
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vedanta Resources Plc - India
- Kobexindo Tractors - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Leighton Contractors Pty Ltd - Australia
- GMR Energy Limited - India
- Electricity Generating Authority of Thailand
- Energy Link Ltd, New Zealand
- Tata Chemicals Ltd - India
- Therma Luzon, Inc, Philippines
- Star Paper Mills Limited - India
- Independent Power Producers Association of India
- New Zealand Coal & Carbon
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Edison Trading Spa - Italy
- Simpson Spence & Young - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining and Power Corporation, Philippines
- Africa Commodities Group - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Antam Resourcindo - Indonesia
- IHS Mccloskey Coal Group - USA
- Gujarat Sidhee Cement - India
- Gujarat Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Meenaskhi Energy Private Limited - India
- Renaissance Capital - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Merrill Lynch Commodities Europe
- Wilmar Investment Holdings
- Holcim Trading Pte Ltd - Singapore
- Samtan Co., Ltd - South Korea
- Miang Besar Coal Terminal - Indonesia
- Ministry of Transport, Egypt
- Central Electricity Authority - India
- Standard Chartered Bank - UAE
- Karaikal Port Pvt Ltd - India
- Central Java Power - Indonesia
- Siam City Cement - Thailand
- Orica Australia Pty. Ltd.
- Mintek Dendrill Indonesia
- Parliament of New Zealand
- Petron Corporation, Philippines
- Bhushan Steel Limited - India
- Bhoruka Overseas - Indonesia
- San Jose City I Power Corp, Philippines
- Bulk Trading Sa - Switzerland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indonesian Coal Mining Association
- Grasim Industreis Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Indian Oil Corporation Limited
- Rio Tinto Coal - Australia
- The University of Queensland
- The Treasury - Australian Government
- Price Waterhouse Coopers - Russia
- Malabar Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Kaltim Prima Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Dalmia Cement Bharat India
- Riau Bara Harum - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Finance - Indonesia
- Banpu Public Company Limited - Thailand
- Global Business Power Corporation, Philippines
- Sojitz Corporation - Japan
- Parry Sugars Refinery, India
- Coal and Oil Company - UAE
- Thiess Contractors Indonesia
- Carbofer General Trading SA - India
- Port Waratah Coal Services - Australia
- MS Steel International - UAE
- Sree Jayajothi Cements Limited - India
- SN Aboitiz Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Indika Energy - Indonesia
- Ambuja Cements Ltd - India
- Bhatia International Limited - India
- Eastern Coal Council - USA
- OPG Power Generation Pvt Ltd - India
- Madhucon Powers Ltd - India
- Australian Commodity Traders Exchange
- Semirara Mining Corp, Philippines
- White Energy Company Limited
- Medco Energi Mining Internasional
- Economic Council, Georgia
- Iligan Light & Power Inc, Philippines
- IEA Clean Coal Centre - UK
- Siam City Cement PLC, Thailand
- Savvy Resources Ltd - HongKong
- ASAPP Information Group - India
- Cigading International Bulk Terminal - Indonesia
- London Commodity Brokers - England
- South Luzon Thermal Energy Corporation
- Bukit Asam (Persero) Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Sakthi Sugars Limited - India
- Australian Coal Association
- Bangladesh Power Developement Board
- Makarim & Taira - Indonesia
- Latin American Coal - Colombia
- Borneo Indobara - Indonesia
- Videocon Industries ltd - India
- Global Coal Blending Company Limited - Australia
- Global Green Power PLC Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Orica Mining Services - Indonesia
- Intertek Mineral Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- Chamber of Mines of South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Agrawal Coal Company - India
- Sical Logistics Limited - India
- Energy Development Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Goldman Sachs - Singapore
- LBH Netherlands Bv - Netherlands
- Romanian Commodities Exchange
- Heidelberg Cement - Germany
- Tamil Nadu electricity Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aboitiz Power Corporation - Philippines
- Trasteel International SA, Italy
- Mercuria Energy - Indonesia
- Larsen & Toubro Limited - India
- Indian Energy Exchange, India
- Straits Asia Resources Limited - Singapore
- Sindya Power Generating Company Private Ltd
- Indogreen Group - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Metalloyd Limited - United Kingdom
- Commonwealth Bank - Australia
- VISA Power Limited - India
- Bharathi Cement Corporation - India
- Thai Mozambique Logistica
- PTC India Limited - India
- Planning Commission, India
- Posco Energy - South Korea
- Directorate General of MIneral and Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Eastern Energy - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Mjunction Services Limited - India
- Essar Steel Hazira Ltd - India
- Vizag Seaport Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Jindal Steel & Power Ltd - India
- CNBM International Corporation - China
- Pipit Mutiara Jaya. PT, Indonesia
- GAC Shipping (India) Pvt Ltd
- SMC Global Power, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cement Manufacturers Association - India
- India Bulls Power Limited - India
- Manunggal Multi Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Neyveli Lignite Corporation Ltd, - India
- European Bulk Services B.V. - Netherlands
- Aditya Birla Group - India
- Kepco SPC Power Corporation, Philippines
- PowerSource Philippines DevCo
- Wood Mackenzie - Singapore
- Binh Thuan Hamico - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Bukit Baiduri Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- McConnell Dowell - Australia
- CIMB Investment Bank - Malaysia
- Coalindo Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Altura Mining Limited, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Electricity Authority, New Zealand
- Attock Cement Pakistan Limited
- Kideco Jaya Agung - Indonesia
- Pendopo Energi Batubara - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Power Finance Corporation Ltd., India
- Salva Resources Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- The State Trading Corporation of India Ltd
- Krishnapatnam Port Company Ltd. - India
- Deloitte Consulting - India
- Asmin Koalindo Tuhup - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Toyota Tsusho Corporation, Japan
- Sarangani Energy Corporation, Philippines
- Lanco Infratech Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Marubeni Corporation - India
- ICICI Bank Limited - India
- Meralco Power Generation, Philippines
- PNOC Exploration Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Xindia Steels Limited - India
- Anglo American - United Kingdom
- Baramulti Group, Indonesia
- SMG Consultants - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kumho Petrochemical, South Korea
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