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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, 16 September 22
DRY BULK MARKET: EU’S BAN ON RUSSIAN COAL LIFTS DEMAND DESPITE ECONOMIC HEADWINDS - BIMCO
Highlights
– The Baltic Exchange Dry Index (BDI) peaked in late May and has since fallen sharply as lower Chinese demand and adverse glob ...
Friday, 16 September 22
BIMCO EMBARKS ON NEW STANDARD FOR “QUIET ENJOYMENT”
KNOWLEDGE TO ELEVATE
A newly set-up BIMCO drafting team involving a cross-section of shipowners, charterers, financing and leasing i ...
Friday, 16 September 22
INDIAN COAL PRODUCTION TO RISE 150 PER CENT IN 10 YEARS: CENTRE - EXPRESS NEWS SERVICE
The Union Ministry of Mines is expecting 150 per cent growth in coal production 10 years down the line as a result of coal reforms that had been us ...
Thursday, 15 September 22
MARKET INSIGHT - INTERMODAL
While the Organization of Petroleum Exporting Countries and its allies agreed on a 100,000 b/d output cut last week, oil flows are in the spotlight ...
Monday, 12 September 22
COAL PRICE HIKE REMAINS DIFFICULT FOR CIL: CHAIRMAN TELLS ANALYSTS - PTI
Coal India on Thursday informed investors that increasing coal prices remains difficult in the current context when the economy is grappling with h ...
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- Merrill Lynch Commodities Europe
- Indika Energy - Indonesia
- Bhushan Steel Limited - India
- Baramulti Group, Indonesia
- Coal and Oil Company - UAE
- Antam Resourcindo - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kumho Petrochemical, South Korea
- Miang Besar Coal Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Indo Tambangraya Megah - Indonesia
- GAC Shipping (India) Pvt Ltd
- Gujarat Mineral Development Corp Ltd - India
- ICICI Bank Limited - India
- Formosa Plastics Group - Taiwan
- Kaltim Prima Coal - Indonesia
- Savvy Resources Ltd - HongKong
- SMG Consultants - Indonesia
- Australian Commodity Traders Exchange
- Indian Energy Exchange, India
- International Coal Ventures Pvt Ltd - India
- Rio Tinto Coal - Australia
- Toyota Tsusho Corporation, Japan
- Energy Development Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Goldman Sachs - Singapore
- Bharathi Cement Corporation - India
- Anglo American - United Kingdom
- Chamber of Mines of South Africa
- Vedanta Resources Plc - India
- CIMB Investment Bank - Malaysia
- Semirara Mining Corp, Philippines
- Minerals Council of Australia
- Agrawal Coal Company - India
- Global Business Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Eastern Energy - Thailand
- Ambuja Cements Ltd - India
- Australian Coal Association
- IEA Clean Coal Centre - UK
- Romanian Commodities Exchange
- MS Steel International - UAE
- Orica Mining Services - Indonesia
- Salva Resources Pvt Ltd - India
- Madhucon Powers Ltd - India
- Karaikal Port Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- VISA Power Limited - India
- Xindia Steels Limited - India
- Banpu Public Company Limited - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Oldendorff Carriers - Singapore
- Meenaskhi Energy Private Limited - India
- South Luzon Thermal Energy Corporation
- Latin American Coal - Colombia
- IHS Mccloskey Coal Group - USA
- Interocean Group of Companies - India
- Intertek Mineral Services - Indonesia
- Deloitte Consulting - India
- Gujarat Sidhee Cement - India
- Riau Bara Harum - Indonesia
- Uttam Galva Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Power Finance Corporation Ltd., India
- Maheswari Brothers Coal Limited - India
- PNOC Exploration Corporation - Philippines
- Petron Corporation, Philippines
- Trasteel International SA, Italy
- India Bulls Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Coalindo Energy - Indonesia
- Makarim & Taira - Indonesia
- Altura Mining Limited, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Australia Pty. Ltd.
- Pendopo Energi Batubara - Indonesia
- Sical Logistics Limited - India
- The State Trading Corporation of India Ltd
- Bangladesh Power Developement Board
- Ind-Barath Power Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Central Java Power - Indonesia
- Barasentosa Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Manunggal Multi Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- Straits Asia Resources Limited - Singapore
- Gujarat Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Cigading International Bulk Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Maharashtra Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Coastal Gujarat Power Limited - India
- Marubeni Corporation - India
- Ministry of Mines - Canada
- The University of Queensland
- GVK Power & Infra Limited - India
- GMR Energy Limited - India
- Africa Commodities Group - South Africa
- Ministry of Finance - Indonesia
- Timah Investasi Mineral - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Larsen & Toubro Limited - India
- Posco Energy - South Korea
- Kideco Jaya Agung - Indonesia
- London Commodity Brokers - England
- Port Waratah Coal Services - Australia
- Star Paper Mills Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- European Bulk Services B.V. - Netherlands
- Bukit Baiduri Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Central Electricity Authority - India
- Therma Luzon, Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- ASAPP Information Group - India
- Aboitiz Power Corporation - Philippines
- Mercator Lines Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Heidelberg Cement - Germany
- Tamil Nadu electricity Board
- Grasim Industreis Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Kapuas Tunggal Persada - Indonesia
- Global Green Power PLC Corporation, Philippines
- Parry Sugars Refinery, India
- Iligan Light & Power Inc, Philippines
- Meralco Power Generation, Philippines
- TeaM Sual Corporation - Philippines
- Metalloyd Limited - United Kingdom
- PowerSource Philippines DevCo
- Eastern Coal Council - USA
- Bukit Makmur.PT - Indonesia
- Videocon Industries ltd - India
- Commonwealth Bank - Australia
- Siam City Cement - Thailand
- Borneo Indobara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Electricity Authority, New Zealand
- Global Coal Blending Company Limited - Australia
- CNBM International Corporation - China
- Parliament of New Zealand
- Indogreen Group - Indonesia
- The Treasury - Australian Government
- Medco Energi Mining Internasional
- Kobexindo Tractors - Indoneisa
- Lanco Infratech Ltd - India
- Independent Power Producers Association of India
- Essar Steel Hazira Ltd - India
- Samtan Co., Ltd - South Korea
- Kohat Cement Company Ltd. - Pakistan
- PTC India Limited - India
- Indian Oil Corporation Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Economic Council, Georgia
- Edison Trading Spa - Italy
- Standard Chartered Bank - UAE
- Renaissance Capital - South Africa
- Planning Commission, India
- Sojitz Corporation - Japan
- Leighton Contractors Pty Ltd - Australia
- Georgia Ports Authority, United States
- OPG Power Generation Pvt Ltd - India
- SMC Global Power, Philippines
- Singapore Mercantile Exchange
- Directorate Of Revenue Intelligence - India
- San Jose City I Power Corp, Philippines
- Attock Cement Pakistan Limited
- Indonesian Coal Mining Association
- Jorong Barutama Greston.PT - Indonesia
- Mjunction Services Limited - India
- Bhatia International Limited - India
- Mintek Dendrill Indonesia
- Malabar Cements Ltd - India
- Aditya Birla Group - India
- Simpson Spence & Young - Indonesia
- Energy Link Ltd, New Zealand
- Carbofer General Trading SA - India
- Tata Chemicals Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Ministry of Transport, Egypt
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Generating Authority of Thailand
- Siam City Cement PLC, Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Binh Thuan Hamico - Vietnam
- Price Waterhouse Coopers - Russia
- Bhoruka Overseas - Indonesia
- Bulk Trading Sa - Switzerland
- Sakthi Sugars Limited - India
- AsiaOL BioFuels Corp., Philippines
- Globalindo Alam Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Thai Mozambique Logistica
- Wilmar Investment Holdings
- Vizag Seaport Private Limited - India
- McConnell Dowell - Australia
- Jaiprakash Power Ventures ltd
- Sarangani Energy Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thiess Contractors Indonesia
- Cement Manufacturers Association - India
- Wood Mackenzie - Singapore
- Dalmia Cement Bharat India
- Mercuria Energy - Indonesia
- White Energy Company Limited
- Karbindo Abesyapradhi - Indoneisa
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