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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, 22 July 22
MARKET INSIGHT - INTERMODAL
Faced with uncertainty regarding the most cost-efficient alternative fuels and the future dominant method to reduce their greenhouse emissions, man ...
Friday, 22 July 22
YANCOAL AUSTRALIA CUTS 2022 COAL OUTPUT VIEW AS FLOODS, COVID BITE - REUTERS
Coal miner Yancoal Australia Ltd YAL.AX cut its 2022 output forecast on Wednesday, signalling a hit from higher-than-expected rainfall, COVID-19-le ...
Wednesday, 20 July 22
BOOST FOR BIOFUELS AS IMO REMOVES REGULATORY HURDLE - GARD
MARPOL Annex VI regulations were written for petroleum derived fuels but also apply to biofuels. It has been a challenge to meet the regulatory req ...
Wednesday, 20 July 22
INDONESIA’S COAL EXPORTS TO THE EU INCREASED SIGNIFICANTLY RECENTLY
European countries have increased coal imports from Indonesia due to the energy crisis that hit the region after Russia cuts gas exports to Europe. ...
Tuesday, 19 July 22
DRY BULK MARKET: CAPESIZE MARKET FIRMS THIS WEEK - BALTIC EXCHANGE
Capesize
Firmer sentiment across both basins pushed the Capesize 5TC route average above the $20,000 threshold this week, closing at $24,209. A ...
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- Sakthi Sugars Limited - India
- Videocon Industries ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Coal Blending Company Limited - Australia
- Edison Trading Spa - Italy
- Bayan Resources Tbk. - Indonesia
- Grasim Industreis Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Orica Australia Pty. Ltd.
- Port Waratah Coal Services - Australia
- Central Electricity Authority - India
- Madhucon Powers Ltd - India
- The University of Queensland
- Vedanta Resources Plc - India
- Bukit Baiduri Energy - Indonesia
- Power Finance Corporation Ltd., India
- Central Java Power - Indonesia
- Sojitz Corporation - Japan
- Commonwealth Bank - Australia
- India Bulls Power Limited - India
- Deloitte Consulting - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Miang Besar Coal Terminal - Indonesia
- Eastern Energy - Thailand
- Medco Energi Mining Internasional
- IEA Clean Coal Centre - UK
- Krishnapatnam Port Company Ltd. - India
- Tata Chemicals Ltd - India
- Karaikal Port Pvt Ltd - India
- GVK Power & Infra Limited - India
- Trasteel International SA, Italy
- OPG Power Generation Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Merrill Lynch Commodities Europe
- Leighton Contractors Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- SMC Global Power, Philippines
- Attock Cement Pakistan Limited
- Larsen & Toubro Limited - India
- Romanian Commodities Exchange
- White Energy Company Limited
- Toyota Tsusho Corporation, Japan
- Carbofer General Trading SA - India
- Heidelberg Cement - Germany
- Renaissance Capital - South Africa
- Coastal Gujarat Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Coal Council - USA
- TeaM Sual Corporation - Philippines
- Dalmia Cement Bharat India
- Gujarat Sidhee Cement - India
- MS Steel International - UAE
- Banpu Public Company Limited - Thailand
- Australian Commodity Traders Exchange
- Aboitiz Power Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Planning Commission, India
- London Commodity Brokers - England
- Georgia Ports Authority, United States
- Binh Thuan Hamico - Vietnam
- Therma Luzon, Inc, Philippines
- Global Business Power Corporation, Philippines
- Parliament of New Zealand
- Bukit Makmur.PT - Indonesia
- Australian Coal Association
- Cigading International Bulk Terminal - Indonesia
- Energy Development Corp, Philippines
- Indogreen Group - Indonesia
- Sindya Power Generating Company Private Ltd
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining Corp, Philippines
- Price Waterhouse Coopers - Russia
- Vijayanagar Sugar Pvt Ltd - India
- Minerals Council of Australia
- McConnell Dowell - Australia
- Jindal Steel & Power Ltd - India
- Economic Council, Georgia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Link Ltd, New Zealand
- Rashtriya Ispat Nigam Limited - India
- Bhatia International Limited - India
- GAC Shipping (India) Pvt Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Savvy Resources Ltd - HongKong
- AsiaOL BioFuels Corp., Philippines
- Coalindo Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Meenaskhi Energy Private Limited - India
- Salva Resources Pvt Ltd - India
- PowerSource Philippines DevCo
- Sarangani Energy Corporation, Philippines
- Bangladesh Power Developement Board
- ICICI Bank Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement - Thailand
- Riau Bara Harum - Indonesia
- Straits Asia Resources Limited - Singapore
- Siam City Cement PLC, Thailand
- The Treasury - Australian Government
- Thai Mozambique Logistica
- Goldman Sachs - Singapore
- Electricity Generating Authority of Thailand
- Metalloyd Limited - United Kingdom
- Interocean Group of Companies - India
- GN Power Mariveles Coal Plant, Philippines
- Lanco Infratech Ltd - India
- Malabar Cements Ltd - India
- Agrawal Coal Company - India
- Kartika Selabumi Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- Simpson Spence & Young - Indonesia
- Vizag Seaport Private Limited - India
- Antam Resourcindo - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- Singapore Mercantile Exchange
- Alfred C Toepfer International GmbH - Germany
- Jaiprakash Power Ventures ltd
- LBH Netherlands Bv - Netherlands
- Rio Tinto Coal - Australia
- Baramulti Group, Indonesia
- Sical Logistics Limited - India
- Latin American Coal - Colombia
- Indian Oil Corporation Limited
- European Bulk Services B.V. - Netherlands
- Mercuria Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Mercator Lines Limited - India
- SN Aboitiz Power Inc, Philippines
- Parry Sugars Refinery, India
- Cement Manufacturers Association - India
- Pendopo Energi Batubara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- New Zealand Coal & Carbon
- Makarim & Taira - Indonesia
- Ministry of Finance - Indonesia
- Ministry of Mines - Canada
- CNBM International Corporation - China
- Wilmar Investment Holdings
- Chamber of Mines of South Africa
- Africa Commodities Group - South Africa
- Gujarat Mineral Development Corp Ltd - India
- Coal and Oil Company - UAE
- Tamil Nadu electricity Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mintek Dendrill Indonesia
- Directorate Of Revenue Intelligence - India
- Wood Mackenzie - Singapore
- VISA Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Anglo American - United Kingdom
- Ambuja Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Kohat Cement Company Ltd. - Pakistan
- GMR Energy Limited - India
- Global Green Power PLC Corporation, Philippines
- Marubeni Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- ASAPP Information Group - India
- Directorate General of MIneral and Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Kumho Petrochemical, South Korea
- Billiton Holdings Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Posco Energy - South Korea
- Star Paper Mills Limited - India
- Meralco Power Generation, Philippines
- Petron Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Mining Services - Indonesia
- Indika Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Indian Energy Exchange, India
- PTC India Limited - India
- Bhoruka Overseas - Indonesia
- Electricity Authority, New Zealand
- Bhushan Steel Limited - India
- Kepco SPC Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Uttam Galva Steels Limited - India
- Standard Chartered Bank - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Essar Steel Hazira Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Ceylon Electricity Board - Sri Lanka
- The State Trading Corporation of India Ltd
- Jorong Barutama Greston.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Kideco Jaya Agung - Indonesia
- Maheswari Brothers Coal Limited - India
- Bulk Trading Sa - Switzerland
- Aditya Birla Group - India
- PetroVietnam Power Coal Import and Supply Company
- Indonesian Coal Mining Association
- Ministry of Transport, Egypt
- South Luzon Thermal Energy Corporation
- Mjunction Services Limited - India
- Asmin Koalindo Tuhup - Indonesia
- SMG Consultants - Indonesia
- PNOC Exploration Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Oldendorff Carriers - Singapore
- Altura Mining Limited, Indonesia
- Xindia Steels Limited - India
- Iligan Light & Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Independent Power Producers Association of India
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