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