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