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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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- Intertek Mineral Services - Indonesia
- Economic Council, Georgia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karbindo Abesyapradhi - Indoneisa
- PTC India Limited - India
- Meenaskhi Energy Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Binh Thuan Hamico - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Attock Cement Pakistan Limited
- Vedanta Resources Plc - India
- Wood Mackenzie - Singapore
- OPG Power Generation Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Altura Mining Limited, Indonesia
- Larsen & Toubro Limited - India
- International Coal Ventures Pvt Ltd - India
- Bharathi Cement Corporation - India
- VISA Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Borneo Indobara - Indonesia
- Thiess Contractors Indonesia
- Australian Coal Association
- Chamber of Mines of South Africa
- Price Waterhouse Coopers - Russia
- Goldman Sachs - Singapore
- Mjunction Services Limited - India
- Kapuas Tunggal Persada - Indonesia
- Iligan Light & Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Kideco Jaya Agung - Indonesia
- Merrill Lynch Commodities Europe
- Xindia Steels Limited - India
- Indogreen Group - Indonesia
- Makarim & Taira - Indonesia
- Savvy Resources Ltd - HongKong
- Sojitz Corporation - Japan
- Grasim Industreis Ltd - India
- Planning Commission, India
- Power Finance Corporation Ltd., India
- Semirara Mining Corp, Philippines
- Madhucon Powers Ltd - India
- Heidelberg Cement - Germany
- Kartika Selabumi Mining - Indonesia
- Ambuja Cements Ltd - India
- Antam Resourcindo - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Billiton Holdings Pty Ltd - Australia
- PowerSource Philippines DevCo
- Singapore Mercantile Exchange
- Maharashtra Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- CIMB Investment Bank - Malaysia
- Petron Corporation, Philippines
- Rio Tinto Coal - Australia
- Oldendorff Carriers - Singapore
- Siam City Cement PLC, Thailand
- Indonesian Coal Mining Association
- Meralco Power Generation, Philippines
- Coalindo Energy - Indonesia
- Latin American Coal - Colombia
- Central Java Power - Indonesia
- Karaikal Port Pvt Ltd - India
- Anglo American - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- Bhushan Steel Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Carbofer General Trading SA - India
- Directorate Of Revenue Intelligence - India
- Bangladesh Power Developement Board
- Baramulti Group, Indonesia
- Bulk Trading Sa - Switzerland
- Thai Mozambique Logistica
- The State Trading Corporation of India Ltd
- SN Aboitiz Power Inc, Philippines
- Interocean Group of Companies - India
- IHS Mccloskey Coal Group - USA
- Chettinad Cement Corporation Ltd - India
- Central Electricity Authority - India
- Ind-Barath Power Infra Limited - India
- Independent Power Producers Association of India
- Dalmia Cement Bharat India
- Petrochimia International Co. Ltd.- Taiwan
- Kumho Petrochemical, South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Star Paper Mills Limited - India
- Gujarat Sidhee Cement - India
- Maheswari Brothers Coal Limited - India
- Indo Tambangraya Megah - Indonesia
- LBH Netherlands Bv - Netherlands
- Eastern Energy - Thailand
- AsiaOL BioFuels Corp., Philippines
- The Treasury - Australian Government
- Toyota Tsusho Corporation, Japan
- Cigading International Bulk Terminal - Indonesia
- Mintek Dendrill Indonesia
- Marubeni Corporation - India
- Manunggal Multi Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- The University of Queensland
- Kaltim Prima Coal - Indonesia
- McConnell Dowell - Australia
- Ministry of Transport, Egypt
- Simpson Spence & Young - Indonesia
- Straits Asia Resources Limited - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TeaM Sual Corporation - Philippines
- Parliament of New Zealand
- Global Business Power Corporation, Philippines
- Medco Energi Mining Internasional
- Edison Trading Spa - Italy
- Renaissance Capital - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Minerals Council of Australia
- Africa Commodities Group - South Africa
- Tata Chemicals Ltd - India
- Port Waratah Coal Services - Australia
- ASAPP Information Group - India
- PNOC Exploration Corporation - Philippines
- Riau Bara Harum - Indonesia
- London Commodity Brokers - England
- Aboitiz Power Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Tamil Nadu electricity Board
- Gujarat Mineral Development Corp Ltd - India
- GMR Energy Limited - India
- Salva Resources Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sical Logistics Limited - India
- Globalindo Alam Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Cement Manufacturers Association - India
- Indian Energy Exchange, India
- Vizag Seaport Private Limited - India
- Essar Steel Hazira Ltd - India
- Samtan Co., Ltd - South Korea
- Miang Besar Coal Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Energy Link Ltd, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Electricity Generating Authority of Thailand
- Timah Investasi Mineral - Indoneisa
- Barasentosa Lestari - Indonesia
- Videocon Industries ltd - India
- Romanian Commodities Exchange
- Directorate General of MIneral and Coal - Indonesia
- CNBM International Corporation - China
- Krishnapatnam Port Company Ltd. - India
- Coastal Gujarat Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Lanco Infratech Ltd - India
- Australian Commodity Traders Exchange
- Jindal Steel & Power Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Gujarat Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Coal and Oil Company - UAE
- SMG Consultants - Indonesia
- Bukit Makmur.PT - Indonesia
- Banpu Public Company Limited - Thailand
- Orica Australia Pty. Ltd.
- Mercuria Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- India Bulls Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- GVK Power & Infra Limited - India
- Therma Luzon, Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- ICICI Bank Limited - India
- Orica Mining Services - Indonesia
- Standard Chartered Bank - UAE
- European Bulk Services B.V. - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Kohat Cement Company Ltd. - Pakistan
- Parry Sugars Refinery, India
- Wilmar Investment Holdings
- Siam City Cement - Thailand
- Ministry of Mines - Canada
- Bukit Asam (Persero) Tbk - Indonesia
- Bhatia International Limited - India
- Posco Energy - South Korea
- IEA Clean Coal Centre - UK
- MS Steel International - UAE
- Eastern Coal Council - USA
- Mercator Lines Limited - India
- Sarangani Energy Corporation, Philippines
- Georgia Ports Authority, United States
- Sakthi Sugars Limited - India
- Asmin Koalindo Tuhup - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Indian Oil Corporation Limited
- New Zealand Coal & Carbon
- Trasteel International SA, Italy
- Electricity Authority, New Zealand
- Indika Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Deloitte Consulting - India
- Semirara Mining and Power Corporation, Philippines
- SMC Global Power, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Commonwealth Bank - Australia
- Aditya Birla Group - India
- Ministry of Finance - Indonesia
- White Energy Company Limited
- Ceylon Electricity Board - Sri Lanka
- South Luzon Thermal Energy Corporation
- Pendopo Energi Batubara - Indonesia
- Bhoruka Overseas - Indonesia
- Energy Development Corp, Philippines
- Agrawal Coal Company - India
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