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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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Saturday, 20 August 22
KOSPO TO IMPORT 240000 MT OF MIN 4400 KCAL/KG NCV STEAM COAL FOR OCTOBER;LOADING FROM RUSSIAN PORTS NOT ALLOWED
COALspot.com: Korea Southern Power Co., Ltd. (KOSPO) has issued an International tender for 240,000 MT of min 4,400kcal/kg to max. 4,999 kcal/kg NC ...
Wednesday, 17 August 22
INDIAN COMPANIES SWAPPING DOLLAR FOR ASIAN CURRENCIES TO BUY RUSSIAN COAL - REUTERS
Indian companies are using Asian currencies more often to pay for Russian coal imports, according to customs documents and industry sources, avoidi ...
Wednesday, 17 August 22
LNG: MAJOR INVESTMENT AND EXPANSION PHASE, DOUBLING OF LIQUEFACTION CAPACITY BY 2028 PROJECTED - CLARKSONS
Clarksons Research have released the latest version of their long standing annual review, LNG Trade & Transport, on to Shipping Intelligence Ne ...
Wednesday, 17 August 22
UNAFFORDABLE LNG PRICES UNDERMINE RAPID DEMAND GROWTH FORECASTS IN KEY ASIAN MARKETS - IEEFA
Sustained high prices may accelerate downward pressures on Asian LNG demand, clouding long-term industry outlooks
The global liquefi ...
Wednesday, 17 August 22
CHINA'S COAL-RICH SHANXI MAKES STRIDES IN HIGH-QUALITY DEVELOPMENT - XINHUA
Shanxi, a major coal-producing province in north China, has made continuous advances in high-quality development over the past decade, according to ...
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- Banpu Public Company Limited - Thailand
- Aditya Birla Group - India
- New Zealand Coal & Carbon
- Therma Luzon, Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Trasteel International SA, Italy
- Riau Bara Harum - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cigading International Bulk Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Africa Commodities Group - South Africa
- SMC Global Power, Philippines
- Orica Mining Services - Indonesia
- SMG Consultants - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- PetroVietnam Power Coal Import and Supply Company
- Lanco Infratech Ltd - India
- Marubeni Corporation - India
- Baramulti Group, Indonesia
- Pendopo Energi Batubara - Indonesia
- Tamil Nadu electricity Board
- Iligan Light & Power Inc, Philippines
- IEA Clean Coal Centre - UK
- Bulk Trading Sa - Switzerland
- Indian Oil Corporation Limited
- Central Java Power - Indonesia
- Eastern Coal Council - USA
- International Coal Ventures Pvt Ltd - India
- Planning Commission, India
- Bharathi Cement Corporation - India
- Manunggal Multi Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Uttam Galva Steels Limited - India
- Bhoruka Overseas - Indonesia
- Indogreen Group - Indonesia
- Siam City Cement - Thailand
- London Commodity Brokers - England
- Bhushan Steel Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asmin Koalindo Tuhup - Indonesia
- Kepco SPC Power Corporation, Philippines
- Sojitz Corporation - Japan
- Romanian Commodities Exchange
- Singapore Mercantile Exchange
- Indonesian Coal Mining Association
- Agrawal Coal Company - India
- Rashtriya Ispat Nigam Limited - India
- Global Green Power PLC Corporation, Philippines
- Eastern Energy - Thailand
- Bangladesh Power Developement Board
- Kalimantan Lumbung Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Petrochimia International Co. Ltd.- Taiwan
- Intertek Mineral Services - Indonesia
- PowerSource Philippines DevCo
- Deloitte Consulting - India
- Bukit Baiduri Energy - Indonesia
- Indian Energy Exchange, India
- Rio Tinto Coal - Australia
- Georgia Ports Authority, United States
- The Treasury - Australian Government
- Videocon Industries ltd - India
- Parliament of New Zealand
- Vizag Seaport Private Limited - India
- Renaissance Capital - South Africa
- Karaikal Port Pvt Ltd - India
- Independent Power Producers Association of India
- Kaltim Prima Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- PNOC Exploration Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Siam City Cement PLC, Thailand
- The University of Queensland
- Simpson Spence & Young - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coastal Gujarat Power Limited - India
- Semirara Mining Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Minerals Council of Australia
- Merrill Lynch Commodities Europe
- Sarangani Energy Corporation, Philippines
- Australian Commodity Traders Exchange
- Australian Coal Association
- AsiaOL BioFuels Corp., Philippines
- Goldman Sachs - Singapore
- Dalmia Cement Bharat India
- Mjunction Services Limited - India
- Coal and Oil Company - UAE
- Commonwealth Bank - Australia
- Oldendorff Carriers - Singapore
- Savvy Resources Ltd - HongKong
- India Bulls Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Altura Mining Limited, Indonesia
- Binh Thuan Hamico - Vietnam
- Bayan Resources Tbk. - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Parry Sugars Refinery, India
- Central Electricity Authority - India
- ICICI Bank Limited - India
- White Energy Company Limited
- Cement Manufacturers Association - India
- Gujarat Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coalindo Energy - Indonesia
- Bhatia International Limited - India
- LBH Netherlands Bv - Netherlands
- Kobexindo Tractors - Indoneisa
- Sree Jayajothi Cements Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Samtan Co., Ltd - South Korea
- Tata Chemicals Ltd - India
- Posco Energy - South Korea
- Larsen & Toubro Limited - India
- Indika Energy - Indonesia
- Mercator Lines Limited - India
- Semirara Mining and Power Corporation, Philippines
- Sical Logistics Limited - India
- GAC Shipping (India) Pvt Ltd
- Indo Tambangraya Megah - Indonesia
- Grasim Industreis Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Mintek Dendrill Indonesia
- Thiess Contractors Indonesia
- Malabar Cements Ltd - India
- VISA Power Limited - India
- Latin American Coal - Colombia
- Makarim & Taira - Indonesia
- Thai Mozambique Logistica
- Ind-Barath Power Infra Limited - India
- Salva Resources Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Ministry of Transport, Egypt
- Ceylon Electricity Board - Sri Lanka
- Kideco Jaya Agung - Indonesia
- Xindia Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Port Waratah Coal Services - Australia
- Medco Energi Mining Internasional
- Vijayanagar Sugar Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Sakthi Sugars Limited - India
- Formosa Plastics Group - Taiwan
- CIMB Investment Bank - Malaysia
- Global Business Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Timah Investasi Mineral - Indoneisa
- Orica Australia Pty. Ltd.
- Borneo Indobara - Indonesia
- PTC India Limited - India
- Gujarat Mineral Development Corp Ltd - India
- CNBM International Corporation - China
- Star Paper Mills Limited - India
- Ministry of Finance - Indonesia
- San Jose City I Power Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Carbofer General Trading SA - India
- Bukit Makmur.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- GMR Energy Limited - India
- Sinarmas Energy and Mining - Indonesia
- Kumho Petrochemical, South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Generating Authority of Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Development Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Aboitiz Power Corporation - Philippines
- Chamber of Mines of South Africa
- Ministry of Mines - Canada
- GVK Power & Infra Limited - India
- Meenaskhi Energy Private Limited - India
- TeaM Sual Corporation - Philippines
- The State Trading Corporation of India Ltd
- Mercuria Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Chettinad Cement Corporation Ltd - India
- Energy Link Ltd, New Zealand
- Edison Trading Spa - Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Standard Chartered Bank - UAE
- Power Finance Corporation Ltd., India
- Economic Council, Georgia
- MS Steel International - UAE
- Electricity Authority, New Zealand
- Interocean Group of Companies - India
- Kartika Selabumi Mining - Indonesia
- ASAPP Information Group - India
- McConnell Dowell - Australia
- Antam Resourcindo - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Barasentosa Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Vedanta Resources Plc - India
- Straits Asia Resources Limited - Singapore
- Wilmar Investment Holdings
- Metalloyd Limited - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Madhucon Powers Ltd - India
- SN Aboitiz Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Ambuja Cements Ltd - India
- Petron Corporation, Philippines
- Anglo American - United Kingdom
- Jindal Steel & Power Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Heidelberg Cement - Germany
- Kohat Cement Company Ltd. - Pakistan
- Meralco Power Generation, Philippines
- Attock Cement Pakistan Limited
- Wood Mackenzie - Singapore
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