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