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