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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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Wednesday, 17 August 22
PAXOCEAN, HONG LAM MARINE AND BUREAU VERITAS SIGN MOU TO DEVELOP AMMONIA BUNKER VESSEL DESIGN - BUREAU VERITAS
PaxOcean Engineering Pte. Ltd. has signed a Memorandum of Understanding (MOU) with Singapore-based bunker vessel operator Hong Lam Marine and class ...
Wednesday, 17 August 22
GOODFUELSS ASIA-PACIFIC BRANCH KICKSTARTS SUSTAINABLE BIOFUEL DELIVERIES WITH NYK AS FIRST CLIENT - GOOD FUELS
GoodFuels, the leading biofuels pioneer for the global transport industry, has today announced that it has successfully supplied sustainable marine ...
Tuesday, 16 August 22
EU BAN ON RUSSIAN COAL IMPORTS COMES INTO FORCE - DEUTSCHE WELLE
The European Union banned Russian coal imports in response to the invasion of Ukraine as part of sanctions in April. Since then, it’s been sc ...
Thursday, 11 August 22
MARKET INSIGHT - INTERMODAL
On July 22nd, Ukraine signed a deal with Russia to release 22mn tons of grain from Ukraine’s 3 major ports (Yuzhny, Chornomorsk, Odesa). Such ...
Wednesday, 10 August 22
THE FUTURE OF COAL: EIGHT KEY THEMES FROM THE GLOBAL COAL FORUM - WOOD MACKENZIE
Coal investors face a multi-layered and unavoidable challenge: markets distorted by war, trade constraints and the existential threat of the energy ...
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- Bhoruka Overseas - Indonesia
- Metalloyd Limited - United Kingdom
- The State Trading Corporation of India Ltd
- Bahari Cakrawala Sebuku - Indonesia
- MS Steel International - UAE
- Central Java Power - Indonesia
- Binh Thuan Hamico - Vietnam
- Simpson Spence & Young - Indonesia
- Chamber of Mines of South Africa
- Bayan Resources Tbk. - Indonesia
- Ambuja Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- ICICI Bank Limited - India
- AsiaOL BioFuels Corp., Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- White Energy Company Limited
- Vizag Seaport Private Limited - India
- Meenaskhi Energy Private Limited - India
- Agrawal Coal Company - India
- Toyota Tsusho Corporation, Japan
- Eastern Coal Council - USA
- Standard Chartered Bank - UAE
- TeaM Sual Corporation - Philippines
- Borneo Indobara - Indonesia
- Madhucon Powers Ltd - India
- Singapore Mercantile Exchange
- Krishnapatnam Port Company Ltd. - India
- Mercator Lines Limited - India
- Cement Manufacturers Association - India
- Pipit Mutiara Jaya. PT, Indonesia
- Essar Steel Hazira Ltd - India
- India Bulls Power Limited - India
- Altura Mining Limited, Indonesia
- Orica Mining Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Trasteel International SA, Italy
- Leighton Contractors Pty Ltd - Australia
- Commonwealth Bank - Australia
- Heidelberg Cement - Germany
- Ceylon Electricity Board - Sri Lanka
- Rashtriya Ispat Nigam Limited - India
- Gujarat Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Indogreen Group - Indonesia
- Goldman Sachs - Singapore
- Sarangani Energy Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Sojitz Corporation - Japan
- Karbindo Abesyapradhi - Indoneisa
- Mjunction Services Limited - India
- Kaltim Prima Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Siam City Cement - Thailand
- Mintek Dendrill Indonesia
- Georgia Ports Authority, United States
- Anglo American - United Kingdom
- Price Waterhouse Coopers - Russia
- OPG Power Generation Pvt Ltd - India
- Parliament of New Zealand
- International Coal Ventures Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- IEA Clean Coal Centre - UK
- Kideco Jaya Agung - Indonesia
- SMG Consultants - Indonesia
- Interocean Group of Companies - India
- Rio Tinto Coal - Australia
- Vijayanagar Sugar Pvt Ltd - India
- London Commodity Brokers - England
- Bukit Baiduri Energy - Indonesia
- Central Electricity Authority - India
- VISA Power Limited - India
- Kobexindo Tractors - Indoneisa
- Sical Logistics Limited - India
- Independent Power Producers Association of India
- Economic Council, Georgia
- Coal and Oil Company - UAE
- Jorong Barutama Greston.PT - Indonesia
- Vedanta Resources Plc - India
- Kumho Petrochemical, South Korea
- Romanian Commodities Exchange
- Renaissance Capital - South Africa
- Energy Link Ltd, New Zealand
- Petron Corporation, Philippines
- Formosa Plastics Group - Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Edison Trading Spa - Italy
- Bhushan Steel Limited - India
- Kartika Selabumi Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Wilmar Investment Holdings
- Indo Tambangraya Megah - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Salva Resources Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GMR Energy Limited - India
- Indonesian Coal Mining Association
- Kalimantan Lumbung Energi - Indonesia
- Thai Mozambique Logistica
- Power Finance Corporation Ltd., India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Riau Bara Harum - Indonesia
- Videocon Industries ltd - India
- Tamil Nadu electricity Board
- Minerals Council of Australia
- Africa Commodities Group - South Africa
- Bulk Trading Sa - Switzerland
- Coastal Gujarat Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- Malabar Cements Ltd - India
- PTC India Limited - India
- South Luzon Thermal Energy Corporation
- Siam City Cement PLC, Thailand
- Cigading International Bulk Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Sakthi Sugars Limited - India
- PowerSource Philippines DevCo
- San Jose City I Power Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Australian Commodity Traders Exchange
- Carbofer General Trading SA - India
- Semirara Mining Corp, Philippines
- Marubeni Corporation - India
- Port Waratah Coal Services - Australia
- Bhatia International Limited - India
- Coalindo Energy - Indonesia
- Tata Chemicals Ltd - India
- Banpu Public Company Limited - Thailand
- Posco Energy - South Korea
- Aboitiz Power Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- GAC Shipping (India) Pvt Ltd
- Antam Resourcindo - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Planning Commission, India
- Straits Asia Resources Limited - Singapore
- Kepco SPC Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Jindal Steel & Power Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- Grasim Industreis Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- New Zealand Coal & Carbon
- Alfred C Toepfer International GmbH - Germany
- Wood Mackenzie - Singapore
- Energy Development Corp, Philippines
- Mercuria Energy - Indonesia
- Ministry of Mines - Canada
- Bangladesh Power Developement Board
- Kapuas Tunggal Persada - Indonesia
- Ministry of Finance - Indonesia
- European Bulk Services B.V. - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Billiton Holdings Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- The Treasury - Australian Government
- Indika Energy - Indonesia
- CNBM International Corporation - China
- Gujarat Sidhee Cement - India
- Deloitte Consulting - India
- Eastern Energy - Thailand
- SN Aboitiz Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Indian Oil Corporation Limited
- Samtan Co., Ltd - South Korea
- Dalmia Cement Bharat India
- Barasentosa Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- Uttam Galva Steels Limited - India
- Baramulti Group, Indonesia
- Thiess Contractors Indonesia
- Aditya Birla Group - India
- Electricity Generating Authority of Thailand
- Meralco Power Generation, Philippines
- Maheswari Brothers Coal Limited - India
- Larsen & Toubro Limited - India
- Global Green Power PLC Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Lanco Infratech Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ASAPP Information Group - India
- PNOC Exploration Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Miang Besar Coal Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Authority, New Zealand
- Attock Cement Pakistan Limited
- Pendopo Energi Batubara - Indonesia
- Global Coal Blending Company Limited - Australia
- CIMB Investment Bank - Malaysia
- Jaiprakash Power Ventures ltd
- Bharathi Cement Corporation - India
- SMC Global Power, Philippines
- Semirara Mining and Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- GVK Power & Infra Limited - India
- Indian Energy Exchange, India
- Ministry of Transport, Egypt
- Merrill Lynch Commodities Europe
- Ind-Barath Power Infra Limited - India
- Medco Energi Mining Internasional
- McConnell Dowell - Australia
- Star Paper Mills Limited - India
- The University of Queensland
- Parry Sugars Refinery, India
- Global Business Power Corporation, Philippines
- Australian Coal Association
- Latin American Coal - Colombia
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