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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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Thursday, 06 October 22
COAL INDIA ASKED TO ENHANCE SUPPLY TO THERMAL POWER PLANTS - IANS
With the festival season round the corner, Coal India Ltd. has been directed by the government to scale up dispatch to thermal power plants.
&n ...
Wednesday, 05 October 22
BUNKER PRICES DOWN AGAIN; IS THERE MORE TO COME? - INTEGR8 FUELS
It’s the economy…..”
VLSFO prices are now back to levels at the start of this year. After all the extremes of thi ...
Wednesday, 05 October 22
MARKET INSIGHT - INTERMODAL
Amid the looming western sanctions on Russia, the country is challenged to pivot its energy markets away from Europe and toward the East. Yet, Russ ...
Tuesday, 04 October 22
A REMARKABLE SHIFT IN FORTUNES HAS BEEN NOTED IN THE CRUDE OIL TANKER MARKETS - ALLIED SHIPPING
A remarkable shift in fortunes has been noted in the crude oil tanker markets over the past month, yet despite these shifts being seemingly in thei ...
Tuesday, 04 October 22
OIL PRICES COULD SOON RETURN TO $100 AS OPEC+ CONSIDERS ‘HISTORIC’ CUT, ANALYSTS SAY - CNBC
An influential alliance of some of the world’s most powerful oil producers is reportedly considering their largest output cut since the start ...
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- Global Coal Blending Company Limited - Australia
- Altura Mining Limited, Indonesia
- Standard Chartered Bank - UAE
- Miang Besar Coal Terminal - Indonesia
- Aditya Birla Group - India
- Barasentosa Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- The University of Queensland
- Baramulti Group, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Medco Energi Mining Internasional
- Kohat Cement Company Ltd. - Pakistan
- Formosa Plastics Group - Taiwan
- Sarangani Energy Corporation, Philippines
- Siam City Cement PLC, Thailand
- Jaiprakash Power Ventures ltd
- The State Trading Corporation of India Ltd
- Central Java Power - Indonesia
- Kepco SPC Power Corporation, Philippines
- Interocean Group of Companies - India
- Chamber of Mines of South Africa
- Independent Power Producers Association of India
- PNOC Exploration Corporation - Philippines
- Indogreen Group - Indonesia
- ICICI Bank Limited - India
- Jorong Barutama Greston.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Xindia Steels Limited - India
- Deloitte Consulting - India
- Eastern Energy - Thailand
- Sical Logistics Limited - India
- Maheswari Brothers Coal Limited - India
- Manunggal Multi Energi - Indonesia
- Carbofer General Trading SA - India
- CNBM International Corporation - China
- Anglo American - United Kingdom
- Bhoruka Overseas - Indonesia
- Economic Council, Georgia
- Trasteel International SA, Italy
- Iligan Light & Power Inc, Philippines
- Minerals Council of Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Dalmia Cement Bharat India
- Makarim & Taira - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Coal Council - USA
- LBH Netherlands Bv - Netherlands
- Thiess Contractors Indonesia
- Indonesian Coal Mining Association
- Bayan Resources Tbk. - Indonesia
- Bangladesh Power Developement Board
- Kideco Jaya Agung - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cement Manufacturers Association - India
- Ind-Barath Power Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Transport, Egypt
- Sinarmas Energy and Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Sree Jayajothi Cements Limited - India
- Posco Energy - South Korea
- Bukit Baiduri Energy - Indonesia
- CIMB Investment Bank - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Gujarat Sidhee Cement - India
- Neyveli Lignite Corporation Ltd, - India
- Attock Cement Pakistan Limited
- Coalindo Energy - Indonesia
- Energy Development Corp, Philippines
- Star Paper Mills Limited - India
- Mintek Dendrill Indonesia
- Metalloyd Limited - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Parry Sugars Refinery, India
- SMC Global Power, Philippines
- Antam Resourcindo - Indonesia
- Videocon Industries ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Wood Mackenzie - Singapore
- TeaM Sual Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Mercator Lines Limited - India
- Bhushan Steel Limited - India
- Oldendorff Carriers - Singapore
- Kobexindo Tractors - Indoneisa
- Latin American Coal - Colombia
- Agrawal Coal Company - India
- PowerSource Philippines DevCo
- Thai Mozambique Logistica
- Siam City Cement - Thailand
- Port Waratah Coal Services - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining Corp, Philippines
- Australian Commodity Traders Exchange
- Semirara Mining and Power Corporation, Philippines
- Ministry of Mines - Canada
- International Coal Ventures Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Indo Tambangraya Megah - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Orica Australia Pty. Ltd.
- Romanian Commodities Exchange
- Georgia Ports Authority, United States
- Straits Asia Resources Limited - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhatia International Limited - India
- Jindal Steel & Power Ltd - India
- SN Aboitiz Power Inc, Philippines
- Sakthi Sugars Limited - India
- Gujarat Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- Global Green Power PLC Corporation, Philippines
- Uttam Galva Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Grasim Industreis Ltd - India
- Singapore Mercantile Exchange
- Malabar Cements Ltd - India
- Marubeni Corporation - India
- Madhucon Powers Ltd - India
- Riau Bara Harum - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Rio Tinto Coal - Australia
- Central Electricity Authority - India
- Goldman Sachs - Singapore
- London Commodity Brokers - England
- Vijayanagar Sugar Pvt Ltd - India
- GVK Power & Infra Limited - India
- South Luzon Thermal Energy Corporation
- Meralco Power Generation, Philippines
- Kartika Selabumi Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- White Energy Company Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Finance - Indonesia
- Mercuria Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- The Treasury - Australian Government
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asmin Koalindo Tuhup - Indonesia
- MS Steel International - UAE
- Africa Commodities Group - South Africa
- Meenaskhi Energy Private Limited - India
- Salva Resources Pvt Ltd - India
- Indian Energy Exchange, India
- San Jose City I Power Corp, Philippines
- Commonwealth Bank - Australia
- Kaltim Prima Coal - Indonesia
- IEA Clean Coal Centre - UK
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bharathi Cement Corporation - India
- Heidelberg Cement - Germany
- Renaissance Capital - South Africa
- PTC India Limited - India
- Indika Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- VISA Power Limited - India
- Savvy Resources Ltd - HongKong
- Chettinad Cement Corporation Ltd - India
- Borneo Indobara - Indonesia
- Petron Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Price Waterhouse Coopers - Russia
- European Bulk Services B.V. - Netherlands
- McConnell Dowell - Australia
- Lanco Infratech Ltd - India
- Orica Mining Services - Indonesia
- Parliament of New Zealand
- Mjunction Services Limited - India
- GAC Shipping (India) Pvt Ltd
- Australian Coal Association
- Vizag Seaport Private Limited - India
- Wilmar Investment Holdings
- SMG Consultants - Indonesia
- Sindya Power Generating Company Private Ltd
- Toyota Tsusho Corporation, Japan
- Coastal Gujarat Power Limited - India
- GMR Energy Limited - India
- Kumho Petrochemical, South Korea
- Ambuja Cements Ltd - India
- India Bulls Power Limited - India
- Binh Thuan Hamico - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Karbindo Abesyapradhi - Indoneisa
- Sojitz Corporation - Japan
- Cigading International Bulk Terminal - Indonesia
- Larsen & Toubro Limited - India
- Timah Investasi Mineral - Indoneisa
- ASAPP Information Group - India
- Edison Trading Spa - Italy
- Rashtriya Ispat Nigam Limited - India
- New Zealand Coal & Carbon
- Billiton Holdings Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- Banpu Public Company Limited - Thailand
- Tamil Nadu electricity Board
- Planning Commission, India
- Global Business Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Vedanta Resources Plc - India
- Essar Steel Hazira Ltd - India
- Pendopo Energi Batubara - Indonesia
- Power Finance Corporation Ltd., India
- Coal and Oil Company - UAE
- Electricity Generating Authority of Thailand
- Gujarat Mineral Development Corp Ltd - India
- Indian Oil Corporation Limited
- Electricity Authority, New Zealand
- Aboitiz Power Corporation - Philippines
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