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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, 19 October 22
WHAT WILL THE GAS MARKET LOOK LIKE IN A NET ZERO WORLD? - WOOD MACKENZIE
The global gas and LNG market faces a number of ‘great unknowns’. With the market in turmoil uncertainty abounds – from the scale ...
Wednesday, 19 October 22
MARKET INSIGHT - INTERMODAL
The LNG market remains extremely tight, and as a result adding further pressure on the vessel charter market, which is already stretched due to the ...
Sunday, 16 October 22
COULD A RETURN TO SHALE EXPLORATION BE PART OF THE SOLUTION TO EUROPE'S GAS SUPPLY PROBLEM? - WOOD MACKENZIE
The European gas market is in turmoil. Russia’s invasion of Ukraine has shaken things up, triggering a complete rethink of European energy st ...
Thursday, 13 October 22
THERMAL COAL PRICES RETREAT AS WINTER SUPPLY FEARS EASE - REUTERS
The prices of key thermal seaborne coal grades are retreating amid signs that supplies will be sufficient to meet winter demand in both Europe and ...
Thursday, 13 October 22
SPOT COAL BIDDING: CHINESE FIRM WANTS REVISED MECHANISM - BUSINESS RECORDER
Chinese company M/s Huaneng Shandong Ruyi (Pakistan) Energy Limited (HSR) has cautioned National Electric Power Regulatory Authority (Nepra) that i ...
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Showing 206 to 210 news of total 6871 |
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- PowerSource Philippines DevCo
- Electricity Authority, New Zealand
- Kumho Petrochemical, South Korea
- Independent Power Producers Association of India
- GN Power Mariveles Coal Plant, Philippines
- Bulk Trading Sa - Switzerland
- Salva Resources Pvt Ltd - India
- Marubeni Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Ministry of Mines - Canada
- Singapore Mercantile Exchange
- Mercator Lines Limited - India
- Tata Chemicals Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Attock Cement Pakistan Limited
- Videocon Industries ltd - India
- Gujarat Sidhee Cement - India
- Commonwealth Bank - Australia
- San Jose City I Power Corp, Philippines
- PTC India Limited - India
- Trasteel International SA, Italy
- Cement Manufacturers Association - India
- Kapuas Tunggal Persada - Indonesia
- Dalmia Cement Bharat India
- CNBM International Corporation - China
- Minerals Council of Australia
- Goldman Sachs - Singapore
- Wood Mackenzie - Singapore
- Australian Commodity Traders Exchange
- Kohat Cement Company Ltd. - Pakistan
- Petron Corporation, Philippines
- Coalindo Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Bangladesh Power Developement Board
- Krishnapatnam Port Company Ltd. - India
- Rashtriya Ispat Nigam Limited - India
- Directorate General of MIneral and Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Madhucon Powers Ltd - India
- Miang Besar Coal Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Coal Association
- Romanian Commodities Exchange
- Thai Mozambique Logistica
- Energy Link Ltd, New Zealand
- Manunggal Multi Energi - Indonesia
- Thiess Contractors Indonesia
- GMR Energy Limited - India
- Gujarat Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Banpu Public Company Limited - Thailand
- Ministry of Finance - Indonesia
- Bhushan Steel Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Kalimantan Lumbung Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Eastern Energy - Thailand
- Orica Mining Services - Indonesia
- Africa Commodities Group - South Africa
- The Treasury - Australian Government
- Karaikal Port Pvt Ltd - India
- Aditya Birla Group - India
- Bayan Resources Tbk. - Indonesia
- Parry Sugars Refinery, India
- Savvy Resources Ltd - HongKong
- IHS Mccloskey Coal Group - USA
- SMC Global Power, Philippines
- Sarangani Energy Corporation, Philippines
- Bhatia International Limited - India
- Indonesian Coal Mining Association
- Riau Bara Harum - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- International Coal Ventures Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Vedanta Resources Plc - India
- Parliament of New Zealand
- Economic Council, Georgia
- Sical Logistics Limited - India
- Formosa Plastics Group - Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Coal Blending Company Limited - Australia
- ASAPP Information Group - India
- Indian Energy Exchange, India
- Heidelberg Cement - Germany
- SN Aboitiz Power Inc, Philippines
- Coal and Oil Company - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Medco Energi Mining Internasional
- Energy Development Corp, Philippines
- Central Java Power - Indonesia
- New Zealand Coal & Carbon
- VISA Power Limited - India
- Mintek Dendrill Indonesia
- Bharathi Cement Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Grasim Industreis Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Timah Investasi Mineral - Indoneisa
- India Bulls Power Limited - India
- LBH Netherlands Bv - Netherlands
- Sakthi Sugars Limited - India
- Planning Commission, India
- Holcim Trading Pte Ltd - Singapore
- Star Paper Mills Limited - India
- TeaM Sual Corporation - Philippines
- Agrawal Coal Company - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sojitz Corporation - Japan
- Deloitte Consulting - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- CIMB Investment Bank - Malaysia
- The State Trading Corporation of India Ltd
- Wilmar Investment Holdings
- Jaiprakash Power Ventures ltd
- Coastal Gujarat Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Semirara Mining Corp, Philippines
- Samtan Co., Ltd - South Korea
- Posco Energy - South Korea
- Malabar Cements Ltd - India
- Makarim & Taira - Indonesia
- Ministry of Transport, Egypt
- Barasentosa Lestari - Indonesia
- Merrill Lynch Commodities Europe
- Standard Chartered Bank - UAE
- Indo Tambangraya Megah - Indonesia
- Siam City Cement - Thailand
- Xindia Steels Limited - India
- Renaissance Capital - South Africa
- Edison Trading Spa - Italy
- MS Steel International - UAE
- Meralco Power Generation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Antam Resourcindo - Indonesia
- PNOC Exploration Corporation - Philippines
- Siam City Cement PLC, Thailand
- European Bulk Services B.V. - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- The University of Queensland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- Carbofer General Trading SA - India
- Straits Asia Resources Limited - Singapore
- Chettinad Cement Corporation Ltd - India
- Pendopo Energi Batubara - Indonesia
- Georgia Ports Authority, United States
- ICICI Bank Limited - India
- IEA Clean Coal Centre - UK
- Ambuja Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Billiton Holdings Pty Ltd - Australia
- Lanco Infratech Ltd - India
- Larsen & Toubro Limited - India
- Kideco Jaya Agung - Indonesia
- Meenaskhi Energy Private Limited - India
- Interocean Group of Companies - India
- Oldendorff Carriers - Singapore
- Metalloyd Limited - United Kingdom
- Indogreen Group - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Central Electricity Authority - India
- Orica Australia Pty. Ltd.
- Kaltim Prima Coal - Indonesia
- GVK Power & Infra Limited - India
- Intertek Mineral Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- Rio Tinto Coal - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Directorate Of Revenue Intelligence - India
- AsiaOL BioFuels Corp., Philippines
- Anglo American - United Kingdom
- Bukit Baiduri Energy - Indonesia
- Electricity Generating Authority of Thailand
- Altura Mining Limited, Indonesia
- Latin American Coal - Colombia
- Binh Thuan Hamico - Vietnam
- Jindal Steel & Power Ltd - India
- London Commodity Brokers - England
- South Luzon Thermal Energy Corporation
- Port Waratah Coal Services - Australia
- Tamil Nadu electricity Board
- Uttam Galva Steels Limited - India
- Ind-Barath Power Infra Limited - India
- Borneo Indobara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Therma Luzon, Inc, Philippines
- Global Business Power Corporation, Philippines
- White Energy Company Limited
- Eastern Coal Council - USA
- McConnell Dowell - Australia
- Mjunction Services Limited - India
- Power Finance Corporation Ltd., India
- Baramulti Group, Indonesia
- Indika Energy - Indonesia
- Mercuria Energy - Indonesia
- Chamber of Mines of South Africa
- Simpson Spence & Young - Indonesia
- Toyota Tsusho Corporation, Japan
- Essar Steel Hazira Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Indian Oil Corporation Limited
- Vizag Seaport Private Limited - India
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