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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, 09 September 22
GREECE WILL KEEP COAL-FIRED PLANTS RUNNING FOR LONGER AMID GAS CRISIS - REUTERS
Greece will keep seven coal-fired plants running for longer than previously planned as European countries adjust to a cut in gas flows coming from ...
Friday, 09 September 22
CHINA'S DROUGHT INTENSIFIES GLOBAL COAL SHORTAGE - REUTERS
China’s drought has sent coal prices surging as traders anticipate the lack of hydroelectric generation will force it to burn more coal to me ...
Thursday, 08 September 22
MOODY.S AFFIRMS ABM INVESTAMA'S B1 RATINGS FOLLOWING PLANNED MINORITY INVESTMENT IN COAL MINER; OUTLOOK STABLE
Moody's Investors Service has affirmed ABM Investama Tbk (P.T.)'s B1 corporate family rating (CFR), along with the B1 rating on its senior ...
Thursday, 08 September 22
MARKET INSIGHT - INTERMODAL
While the energy markets are historically stretched, Russian flows of crude oil are closely monitored as the oil trade is ultimately realigned. Mor ...
Friday, 02 September 22
INDONESIA COAL PRICE REFERENCE SLIPS SLIGHTLY IN SEPTEMBER 2022
COALspot.com: Indonesian Coal Price Reference for September delivery drops 0.74 per cent month on month.
The Indonesian Coal Price R ...
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- SN Aboitiz Power Inc, Philippines
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- Indian Oil Corporation Limited
- Bukit Baiduri Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Krishnapatnam Port Company Ltd. - India
- San Jose City I Power Corp, Philippines
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- Savvy Resources Ltd - HongKong
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- Eastern Coal Council - USA
- Sojitz Corporation - Japan
- Jaiprakash Power Ventures ltd
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- Deloitte Consulting - India
- Global Business Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
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- Energy Link Ltd, New Zealand
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- Lanco Infratech Ltd - India
- Singapore Mercantile Exchange
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- MS Steel International - UAE
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- Karbindo Abesyapradhi - Indoneisa
- Chamber of Mines of South Africa
- Petrochimia International Co. Ltd.- Taiwan
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- Attock Cement Pakistan Limited
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- Planning Commission, India
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- IHS Mccloskey Coal Group - USA
- Medco Energi Mining Internasional
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- Renaissance Capital - South Africa
- Thai Mozambique Logistica
- Interocean Group of Companies - India
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- Indogreen Group - Indonesia
- PTC India Limited - India
- Ministry of Finance - Indonesia
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- Bhushan Steel Limited - India
- Toyota Tsusho Corporation, Japan
- Indian Energy Exchange, India
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- Orica Australia Pty. Ltd.
- Borneo Indobara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Agrawal Coal Company - India
- Economic Council, Georgia
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- Samtan Co., Ltd - South Korea
- Asmin Koalindo Tuhup - Indonesia
- White Energy Company Limited
- Bangladesh Power Developement Board
- Baramulti Group, Indonesia
- SMC Global Power, Philippines
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- Iligan Light & Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Larsen & Toubro Limited - India
- Indonesian Coal Mining Association
- Ministry of Mines - Canada
- Bayan Resources Tbk. - Indonesia
- Mintek Dendrill Indonesia
- The University of Queensland
- Parry Sugars Refinery, India
- Directorate General of MIneral and Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Coalindo Energy - Indonesia
- Africa Commodities Group - South Africa
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- Barasentosa Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Wood Mackenzie - Singapore
- Trasteel International SA, Italy
- London Commodity Brokers - England
- Global Coal Blending Company Limited - Australia
- Australian Coal Association
- Indo Tambangraya Megah - Indonesia
- Edison Trading Spa - Italy
- Meralco Power Generation, Philippines
- Gujarat Electricity Regulatory Commission - India
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- Sical Logistics Limited - India
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- Kohat Cement Company Ltd. - Pakistan
- GAC Shipping (India) Pvt Ltd
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- Tata Chemicals Ltd - India
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- Parliament of New Zealand
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- Petron Corporation, Philippines
- Port Waratah Coal Services - Australia
- Orica Mining Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Bulk Trading Sa - Switzerland
- GMR Energy Limited - India
- Aditya Birla Group - India
- Intertek Mineral Services - Indonesia
- Therma Luzon, Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Anglo American - United Kingdom
- Kideco Jaya Agung - Indonesia
- Energy Development Corp, Philippines
- Dalmia Cement Bharat India
- The State Trading Corporation of India Ltd
- Straits Asia Resources Limited - Singapore
- Posco Energy - South Korea
- Australian Commodity Traders Exchange
- Heidelberg Cement - Germany
- IEA Clean Coal Centre - UK
- Timah Investasi Mineral - Indoneisa
- Central Java Power - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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- International Coal Ventures Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- The Treasury - Australian Government
- Electricity Authority, New Zealand
- Grasim Industreis Ltd - India
- Goldman Sachs - Singapore
- Tamil Nadu electricity Board
- Kaltim Prima Coal - Indonesia
- Bhatia International Limited - India
- Cement Manufacturers Association - India
- Sindya Power Generating Company Private Ltd
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- PNOC Exploration Corporation - Philippines
- Merrill Lynch Commodities Europe
- Commonwealth Bank - Australia
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- Price Waterhouse Coopers - Russia
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Transport, Egypt
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- LBH Netherlands Bv - Netherlands
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- Globalindo Alam Lestari - Indonesia
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- Coal and Oil Company - UAE
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