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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, 23 September 22
CHINA DIGS DEEP TO RAISE COAL OUTPUT TO RECORD HIGH - REUTERS
China’s coal production has surged this year as the government seeks to improve energy security by reducing dependence on imports and amassin ...
Friday, 23 September 22
BUOYANT COAL INDUSTRY SEEKS WAYS TO STAY IN THE LONG-TERM ENERGY MIX - REUTERS
There’s no doubt that the global coal industry has been a major beneficiary of Russia’s invasion of Ukraine and the subsequent energy c ...
Friday, 23 September 22
MARKET INSIGHT - INTERMODAL
In view of the forthcoming winter, Europe is trying to escape from its energy (oil & gas) dependency from Russia to ensure energy abundance eve ...
Tuesday, 20 September 22
CHINA'S DAILY COAL OUTPUT HITS 3-MONTH LOW IN AUGUST ON RAINS, COVID CURBS - REUTERS
China’s daily coal output in August slipped to a three-month low as some mines in its biggest coal mining regions reduced operations or even ...
Tuesday, 20 September 22
CHINA COAL OUTPUT UP 8.1 PCT IN AUGUST - XINHUA
China’s raw coal output posted stable expansion in August, official data showed.
The country produced 370 million tonnes of ra ...
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- Goldman Sachs - Singapore
- Bukit Baiduri Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Miang Besar Coal Terminal - Indonesia
- Thai Mozambique Logistica
- Kideco Jaya Agung - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Gujarat Sidhee Cement - India
- Indonesian Coal Mining Association
- Africa Commodities Group - South Africa
- London Commodity Brokers - England
- The Treasury - Australian Government
- GN Power Mariveles Coal Plant, Philippines
- GVK Power & Infra Limited - India
- Bharathi Cement Corporation - India
- Lanco Infratech Ltd - India
- Central Electricity Authority - India
- Maheswari Brothers Coal Limited - India
- Anglo American - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercuria Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Vizag Seaport Private Limited - India
- Port Waratah Coal Services - Australia
- Deloitte Consulting - India
- PetroVietnam Power Coal Import and Supply Company
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- New Zealand Coal & Carbon
- Semirara Mining and Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- OPG Power Generation Pvt Ltd - India
- Power Finance Corporation Ltd., India
- SMG Consultants - Indonesia
- ICICI Bank Limited - India
- Maharashtra Electricity Regulatory Commission - India
- White Energy Company Limited
- Holcim Trading Pte Ltd - Singapore
- Ceylon Electricity Board - Sri Lanka
- Kepco SPC Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Sical Logistics Limited - India
- Indo Tambangraya Megah - Indonesia
- IHS Mccloskey Coal Group - USA
- Uttam Galva Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- India Bulls Power Limited - India
- Posco Energy - South Korea
- Directorate General of MIneral and Coal - Indonesia
- IEA Clean Coal Centre - UK
- Indian Energy Exchange, India
- Gujarat Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Ministry of Mines - Canada
- Timah Investasi Mineral - Indoneisa
- Metalloyd Limited - United Kingdom
- Meenaskhi Energy Private Limited - India
- Banpu Public Company Limited - Thailand
- Agrawal Coal Company - India
- Riau Bara Harum - Indonesia
- Petron Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Electricity Authority, New Zealand
- Grasim Industreis Ltd - India
- Rio Tinto Coal - Australia
- McConnell Dowell - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Therma Luzon, Inc, Philippines
- Planning Commission, India
- Videocon Industries ltd - India
- Bulk Trading Sa - Switzerland
- Vijayanagar Sugar Pvt Ltd - India
- Aditya Birla Group - India
- Mjunction Services Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Latin American Coal - Colombia
- Simpson Spence & Young - Indonesia
- Dalmia Cement Bharat India
- Binh Thuan Hamico - Vietnam
- Antam Resourcindo - Indonesia
- Bhoruka Overseas - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Baramulti Group, Indonesia
- Global Coal Blending Company Limited - Australia
- Gujarat Mineral Development Corp Ltd - India
- PTC India Limited - India
- Indogreen Group - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining Corp, Philippines
- Manunggal Multi Energi - Indonesia
- MS Steel International - UAE
- Thiess Contractors Indonesia
- Economic Council, Georgia
- Makarim & Taira - Indonesia
- Merrill Lynch Commodities Europe
- Parliament of New Zealand
- Electricity Generating Authority of Thailand
- Intertek Mineral Services - Indonesia
- Carbofer General Trading SA - India
- Altura Mining Limited, Indonesia
- Siam City Cement - Thailand
- Tamil Nadu electricity Board
- Jindal Steel & Power Ltd - India
- Price Waterhouse Coopers - Russia
- Bukit Makmur.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Xindia Steels Limited - India
- Star Paper Mills Limited - India
- GMR Energy Limited - India
- Parry Sugars Refinery, India
- Savvy Resources Ltd - HongKong
- Ind-Barath Power Infra Limited - India
- Coal and Oil Company - UAE
- Kaltim Prima Coal - Indonesia
- Global Business Power Corporation, Philippines
- SMC Global Power, Philippines
- International Coal Ventures Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Madhucon Powers Ltd - India
- VISA Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- South Luzon Thermal Energy Corporation
- Indian Oil Corporation Limited
- The State Trading Corporation of India Ltd
- Interocean Group of Companies - India
- Kalimantan Lumbung Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Heidelberg Cement - Germany
- San Jose City I Power Corp, Philippines
- Mercator Lines Limited - India
- Mintek Dendrill Indonesia
- Sojitz Corporation - Japan
- The University of Queensland
- Georgia Ports Authority, United States
- Sindya Power Generating Company Private Ltd
- Renaissance Capital - South Africa
- Aboitiz Power Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Bhushan Steel Limited - India
- Bhatia International Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jaiprakash Power Ventures ltd
- Medco Energi Mining Internasional
- Iligan Light & Power Inc, Philippines
- ASAPP Information Group - India
- Coastal Gujarat Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Oldendorff Carriers - Singapore
- Romanian Commodities Exchange
- CIMB Investment Bank - Malaysia
- SN Aboitiz Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- PowerSource Philippines DevCo
- Minerals Council of Australia
- Marubeni Corporation - India
- Cement Manufacturers Association - India
- Ministry of Transport, Egypt
- Indika Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Sakthi Sugars Limited - India
- Eastern Coal Council - USA
- Australian Commodity Traders Exchange
- Krishnapatnam Port Company Ltd. - India
- Kumho Petrochemical, South Korea
- Kohat Cement Company Ltd. - Pakistan
- Borneo Indobara - Indonesia
- Wood Mackenzie - Singapore
- Siam City Cement PLC, Thailand
- Energy Development Corp, Philippines
- Edison Trading Spa - Italy
- Eastern Energy - Thailand
- Salva Resources Pvt Ltd - India
- Commonwealth Bank - Australia
- Billiton Holdings Pty Ltd - Australia
- Larsen & Toubro Limited - India
- Global Green Power PLC Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Ministry of Finance - Indonesia
- Tata Chemicals Ltd - India
- Australian Coal Association
- Coalindo Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- CNBM International Corporation - China
- Formosa Plastics Group - Taiwan
- AsiaOL BioFuels Corp., Philippines
- Standard Chartered Bank - UAE
- Toyota Tsusho Corporation, Japan
- Energy Link Ltd, New Zealand
- Singapore Mercantile Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Attock Cement Pakistan Limited
- Barasentosa Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Bangladesh Power Developement Board
- Central Java Power - Indonesia
- Kobexindo Tractors - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Karaikal Port Pvt Ltd - India
- Malabar Cements Ltd - India
- Trasteel International SA, Italy
- Karbindo Abesyapradhi - Indoneisa
- Straits Asia Resources Limited - Singapore
- Kartika Selabumi Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Wilmar Investment Holdings
- Neyveli Lignite Corporation Ltd, - India
- Vedanta Resources Plc - India
- Chamber of Mines of South Africa
- GAC Shipping (India) Pvt Ltd
- Independent Power Producers Association of India
- Orica Mining Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Meralco Power Generation, Philippines
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