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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, 02 September 22
ABM INVESTAMA BUYS 30% GEMS SHARES FOR US$ 420 MILLION
PT ABM Investama Tbk through its indirect subsidiary, bought a 30% stake in the PT Golden Energy Mines Tbk for US$ 420 million or around Rp 6.2 tri ...
Wednesday, 31 August 22
MARKET INSIGHT - INTERMODAL
Scorching temperatures and extremely dry conditions during the Northern hemisphere summer have been drying crops. Yield prospects have subsided in ...
Tuesday, 23 August 22
HIGH COAL PRICES COULD BOOST INDONESIA'S ENERGY TRANSITION - IEEFA
Global coal prices have reached an all-time high as countries stop purchasing Russian coal amidst the Russia-Ukraine conflict. Indonesian coal comp ...
Tuesday, 23 August 22
A COMBINED US$6.8-BILLION CASH BALANCE OF INDONESIAN COAL COMPANIES COULD PROVIDE FOR TIMELY INVESTMENTS IN GREEN TRANSITION - IEEFA
A combined US$6.8-billion cash balance of Indonesian coal companies could provide for timely investments in green transition
The opp ...
Tuesday, 23 August 22
SHIPPING INDUSTRY TO REMOVE THE INDIAN OCEAN HIGH RISK AREA - BIMCO
After more than a decade of effective threat-reducing counter-piracy operations the shipping industry has removed the ‘Indian Ocean High Risk ...
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- Savvy Resources Ltd - HongKong
- AsiaOL BioFuels Corp., Philippines
- IEA Clean Coal Centre - UK
- Global Green Power PLC Corporation, Philippines
- Planning Commission, India
- Ministry of Finance - Indonesia
- Petron Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Goldman Sachs - Singapore
- Independent Power Producers Association of India
- Simpson Spence & Young - Indonesia
- Siam City Cement - Thailand
- Coastal Gujarat Power Limited - India
- Samtan Co., Ltd - South Korea
- Ambuja Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Larsen & Toubro Limited - India
- The Treasury - Australian Government
- Chettinad Cement Corporation Ltd - India
- Price Waterhouse Coopers - Russia
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- GMR Energy Limited - India
- Wilmar Investment Holdings
- Ministry of Mines - Canada
- Posco Energy - South Korea
- South Luzon Thermal Energy Corporation
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Marubeni Corporation - India
- VISA Power Limited - India
- Jindal Steel & Power Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Global Coal Blending Company Limited - Australia
- Holcim Trading Pte Ltd - Singapore
- Directorate Of Revenue Intelligence - India
- Electricity Authority, New Zealand
- Indian Oil Corporation Limited
- Toyota Tsusho Corporation, Japan
- GVK Power & Infra Limited - India
- Meenaskhi Energy Private Limited - India
- Anglo American - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- McConnell Dowell - Australia
- International Coal Ventures Pvt Ltd - India
- Mintek Dendrill Indonesia
- Thai Mozambique Logistica
- Rio Tinto Coal - Australia
- Merrill Lynch Commodities Europe
- New Zealand Coal & Carbon
- Kepco SPC Power Corporation, Philippines
- Mjunction Services Limited - India
- Therma Luzon, Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- The University of Queensland
- Bulk Trading Sa - Switzerland
- Antam Resourcindo - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- IHS Mccloskey Coal Group - USA
- Sree Jayajothi Cements Limited - India
- Straits Asia Resources Limited - Singapore
- Bhushan Steel Limited - India
- Orica Australia Pty. Ltd.
- Tata Chemicals Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Tamil Nadu electricity Board
- Vedanta Resources Plc - India
- Xindia Steels Limited - India
- Altura Mining Limited, Indonesia
- Wood Mackenzie - Singapore
- SN Aboitiz Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Renaissance Capital - South Africa
- PNOC Exploration Corporation - Philippines
- Power Finance Corporation Ltd., India
- Sojitz Corporation - Japan
- Essar Steel Hazira Ltd - India
- Binh Thuan Hamico - Vietnam
- Indika Energy - Indonesia
- Interocean Group of Companies - India
- Dalmia Cement Bharat India
- Cement Manufacturers Association - India
- Heidelberg Cement - Germany
- GAC Shipping (India) Pvt Ltd
- The State Trading Corporation of India Ltd
- Indian Energy Exchange, India
- PetroVietnam Power Coal Import and Supply Company
- Attock Cement Pakistan Limited
- Central Electricity Authority - India
- Africa Commodities Group - South Africa
- Kalimantan Lumbung Energi - Indonesia
- Parliament of New Zealand
- Meralco Power Generation, Philippines
- SMC Global Power, Philippines
- Australian Commodity Traders Exchange
- Sical Logistics Limited - India
- Ceylon Electricity Board - Sri Lanka
- Makarim & Taira - Indonesia
- Formosa Plastics Group - Taiwan
- India Bulls Power Limited - India
- Coal and Oil Company - UAE
- Chamber of Mines of South Africa
- Mercator Lines Limited - India
- Indogreen Group - Indonesia
- Indo Tambangraya Megah - Indonesia
- Economic Council, Georgia
- Minerals Council of Australia
- Timah Investasi Mineral - Indoneisa
- Baramulti Group, Indonesia
- Aboitiz Power Corporation - Philippines
- Thiess Contractors Indonesia
- Commonwealth Bank - Australia
- Metalloyd Limited - United Kingdom
- Karaikal Port Pvt Ltd - India
- Singapore Mercantile Exchange
- Kumho Petrochemical, South Korea
- Romanian Commodities Exchange
- Eastern Energy - Thailand
- Medco Energi Mining Internasional
- Grasim Industreis Ltd - India
- Bukit Makmur.PT - Indonesia
- ASAPP Information Group - India
- Kaltim Prima Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- San Jose City I Power Corp, Philippines
- Jaiprakash Power Ventures ltd
- Sakthi Sugars Limited - India
- Orica Mining Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Coalindo Energy - Indonesia
- PowerSource Philippines DevCo
- Krishnapatnam Port Company Ltd. - India
- ICICI Bank Limited - India
- Ministry of Transport, Egypt
- Videocon Industries ltd - India
- Pendopo Energi Batubara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Coal Council - USA
- Uttam Galva Steels Limited - India
- LBH Netherlands Bv - Netherlands
- Kideco Jaya Agung - Indonesia
- Riau Bara Harum - Indonesia
- Siam City Cement PLC, Thailand
- Gujarat Sidhee Cement - India
- Georgia Ports Authority, United States
- Kapuas Tunggal Persada - Indonesia
- Agrawal Coal Company - India
- Ind-Barath Power Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Malabar Cements Ltd - India
- Indonesian Coal Mining Association
- Karbindo Abesyapradhi - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Kohat Cement Company Ltd. - Pakistan
- Energy Link Ltd, New Zealand
- Bhatia International Limited - India
- Borneo Indobara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate General of MIneral and Coal - Indonesia
- Mercuria Energy - Indonesia
- Oldendorff Carriers - Singapore
- TeaM Sual Corporation - Philippines
- Aditya Birla Group - India
- Deloitte Consulting - India
- Barasentosa Lestari - Indonesia
- Vizag Seaport Private Limited - India
- White Energy Company Limited
- Port Waratah Coal Services - Australia
- Kartika Selabumi Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- London Commodity Brokers - England
- Miang Besar Coal Terminal - Indonesia
- Star Paper Mills Limited - India
- Sinarmas Energy and Mining - Indonesia
- Edison Trading Spa - Italy
- Carbofer General Trading SA - India
- Maheswari Brothers Coal Limited - India
- Gujarat Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Global Business Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Salva Resources Pvt Ltd - India
- Bharathi Cement Corporation - India
- Latin American Coal - Colombia
- SMG Consultants - Indonesia
- Lanco Infratech Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jorong Barutama Greston.PT - Indonesia
- CNBM International Corporation - China
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Australian Coal Association
- Central Java Power - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Energy Development Corp, Philippines
- Trasteel International SA, Italy
- Parry Sugars Refinery, India
- Standard Chartered Bank - UAE
- MS Steel International - UAE
- Rashtriya Ispat Nigam Limited - India
- Madhucon Powers Ltd - India
- PTC India Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Bayan Resources Tbk. - Indonesia
- Bangladesh Power Developement Board
- Banpu Public Company Limited - Thailand
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