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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, 31 October 22
U.S. COAL-FIRED GENERATION DECLINING AFTER BRIEF RISE LAST YEAR - EIA
We expect 6% less U.S. coal-fired generation in 2022 than in 2021, according to our latest Short-Term Energy Outlook (STEO). Although coal-fired ge ...
Monday, 31 October 22
CHINA COAL OUTPUT UP 12.3 PCT IN SEPTEMBER - XINHUA
China’s raw coal output posted stable expansion in September, official data showed.
The country produced 390 million tonnes of ...
Wednesday, 26 October 22
BIMCO PUBLISHES UPDATED GENCON CONTRACT
BIMCO has published a revised and updated version GENCON 2022 – one of its flagship contracts within its portfolio of standard contracts for ...
Monday, 24 October 22
KOSPO TO INVITE 400,000 MT OF COAL FOR 3 YEARS
COALspot.com: Korea Southern Power Co., Ltd. (KOSPO) has issued an international tender for 400,000 MT of 3,800 - 4,400kcal/kg NCV and Sulfur Max 0 ...
Wednesday, 19 October 22
ASIA COULD BE A BRIGHT SPOT AMID GLOBAL DOWNTURN NEXT YEAR, ECONOMISTS SAY - CNBC
Asia — especially Southeast Asia — remains a bright spot, even as the global economy looks set to head into recession next year, econom ...
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- PowerSource Philippines DevCo
- Kaltim Prima Coal - Indonesia
- Orica Australia Pty. Ltd.
- Kideco Jaya Agung - Indonesia
- Bukit Baiduri Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Xindia Steels Limited - India
- Bhushan Steel Limited - India
- Carbofer General Trading SA - India
- The Treasury - Australian Government
- Thiess Contractors Indonesia
- SN Aboitiz Power Inc, Philippines
- GVK Power & Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Sakthi Sugars Limited - India
- Indian Oil Corporation Limited
- Indika Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Parliament of New Zealand
- Billiton Holdings Pty Ltd - Australia
- New Zealand Coal & Carbon
- Sical Logistics Limited - India
- Riau Bara Harum - Indonesia
- Deloitte Consulting - India
- SMC Global Power, Philippines
- Iligan Light & Power Inc, Philippines
- VISA Power Limited - India
- Kobexindo Tractors - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Aboitiz Power Corporation - Philippines
- Oldendorff Carriers - Singapore
- Standard Chartered Bank - UAE
- Central Java Power - Indonesia
- Romanian Commodities Exchange
- Global Business Power Corporation, Philippines
- McConnell Dowell - Australia
- Minerals Council of Australia
- Indian Energy Exchange, India
- Toyota Tsusho Corporation, Japan
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Simpson Spence & Young - Indonesia
- MS Steel International - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Posco Energy - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- Ambuja Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Singapore Mercantile Exchange
- AsiaOL BioFuels Corp., Philippines
- Mercuria Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Parry Sugars Refinery, India
- Anglo American - United Kingdom
- Heidelberg Cement - Germany
- Star Paper Mills Limited - India
- Kapuas Tunggal Persada - Indonesia
- ASAPP Information Group - India
- Edison Trading Spa - Italy
- Planning Commission, India
- Interocean Group of Companies - India
- London Commodity Brokers - England
- LBH Netherlands Bv - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Barasentosa Lestari - Indonesia
- Meralco Power Generation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate Of Revenue Intelligence - India
- Siam City Cement PLC, Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kumho Petrochemical, South Korea
- Vedanta Resources Plc - India
- Aditya Birla Group - India
- Therma Luzon, Inc, Philippines
- Banpu Public Company Limited - Thailand
- Baramulti Group, Indonesia
- PNOC Exploration Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Price Waterhouse Coopers - Russia
- Indonesian Coal Mining Association
- Grasim Industreis Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- ICICI Bank Limited - India
- Maheswari Brothers Coal Limited - India
- Marubeni Corporation - India
- Coastal Gujarat Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Agrawal Coal Company - India
- Independent Power Producers Association of India
- Australian Coal Association
- Malabar Cements Ltd - India
- India Bulls Power Limited - India
- Trasteel International SA, Italy
- Ministry of Transport, Egypt
- Sindya Power Generating Company Private Ltd
- IEA Clean Coal Centre - UK
- Bayan Resources Tbk. - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Sojitz Corporation - Japan
- GMR Energy Limited - India
- Georgia Ports Authority, United States
- Global Coal Blending Company Limited - Australia
- Karaikal Port Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Kalimantan Lumbung Energi - Indonesia
- Energy Development Corp, Philippines
- Renaissance Capital - South Africa
- Medco Energi Mining Internasional
- Samtan Co., Ltd - South Korea
- Australian Commodity Traders Exchange
- Wilmar Investment Holdings
- Binh Thuan Hamico - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Economic Council, Georgia
- Altura Mining Limited, Indonesia
- Latin American Coal - Colombia
- Ministry of Finance - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Coalindo Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Chamber of Mines of South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cigading International Bulk Terminal - Indonesia
- Tata Chemicals Ltd - India
- Coal and Oil Company - UAE
- South Luzon Thermal Energy Corporation
- CNBM International Corporation - China
- Borneo Indobara - Indonesia
- Videocon Industries ltd - India
- Intertek Mineral Services - Indonesia
- Bhoruka Overseas - Indonesia
- Eastern Energy - Thailand
- Indo Tambangraya Megah - Indonesia
- Mjunction Services Limited - India
- Eastern Coal Council - USA
- Gujarat Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Manunggal Multi Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Port Waratah Coal Services - Australia
- Madhucon Powers Ltd - India
- Pendopo Energi Batubara - Indonesia
- Africa Commodities Group - South Africa
- Sarangani Energy Corporation, Philippines
- Electricity Generating Authority of Thailand
- International Coal Ventures Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Bharathi Cement Corporation - India
- Kartika Selabumi Mining - Indonesia
- Goldman Sachs - Singapore
- Antam Resourcindo - Indonesia
- The State Trading Corporation of India Ltd
- Metalloyd Limited - United Kingdom
- Uttam Galva Steels Limited - India
- Ministry of Mines - Canada
- Jorong Barutama Greston.PT - Indonesia
- Dalmia Cement Bharat India
- Bhatia International Limited - India
- Lanco Infratech Ltd - India
- Siam City Cement - Thailand
- Mercator Lines Limited - India
- Vizag Seaport Private Limited - India
- Electricity Authority, New Zealand
- Chettinad Cement Corporation Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- CIMB Investment Bank - Malaysia
- San Jose City I Power Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- SMG Consultants - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Central Electricity Authority - India
- Leighton Contractors Pty Ltd - Australia
- Cement Manufacturers Association - India
- GAC Shipping (India) Pvt Ltd
- Jaiprakash Power Ventures ltd
- Tamil Nadu electricity Board
- Energy Link Ltd, New Zealand
- Commonwealth Bank - Australia
- Gujarat Sidhee Cement - India
- Karbindo Abesyapradhi - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Sinarmas Energy and Mining - Indonesia
- PTC India Limited - India
- Indogreen Group - Indonesia
- Orica Mining Services - Indonesia
- Attock Cement Pakistan Limited
- White Energy Company Limited
- OPG Power Generation Pvt Ltd - India
- Wood Mackenzie - Singapore
- Salva Resources Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- The University of Queensland
- IHS Mccloskey Coal Group - USA
- Straits Asia Resources Limited - Singapore
- Global Green Power PLC Corporation, Philippines
- Petron Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Mintek Dendrill Indonesia
- Larsen & Toubro Limited - India
- TeaM Sual Corporation - Philippines
- Thai Mozambique Logistica
- Neyveli Lignite Corporation Ltd, - India
- Vijayanagar Sugar Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Rio Tinto Coal - Australia
- Makarim & Taira - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bangladesh Power Developement Board
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