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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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Tuesday, 19 July 22
WHY SHIPPING MIGHT BE ABOUT TO GET A LITTLE BIT SLOWER - WORLD ECONOMIC FORUM
If shipping is the beating heart of global trade, its pulse is about to get slower.
Faced with uncertainty about which fuels to use in the long ...
Tuesday, 19 July 22
GERMANY'S INCREASED COAL, OIL USE WILL BE TEMPORARY, SCHOLZ SAYS - CNBC
Chancellor Olaf Scholz says Germany’s decision to reactivate coal and oil-fired power plants to relieve energy shortages because of the war i ...
Tuesday, 19 July 22
INDONESIA REMOVES PALM OIL EXPORT LEVY UNTIL AUG. 31 - REUTERS
Indonesia has scrapped its export levy for all palm oil products until Aug. 31 in a fresh attempt to boost exports and ease high inventories, finan ...
Tuesday, 19 July 22
CHINA'S JUNE DAILY COAL OUTPUT JUMPS ON PEAK SUMMER DEMAND - REUTERS
China’s daily coal output in June rose 6.6 per cent from a month earlier as miners cranked up output ahead of peak summer temperatures, when ...
Tuesday, 19 July 22
SEEING RED? - WOOD MACKENZIE
What a Republican mid-term victory could mean for US energy and climate policy
According to current polling the Republican Party has ...
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- GN Power Mariveles Coal Plant, Philippines
- Bayan Resources Tbk. - Indonesia
- McConnell Dowell - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- London Commodity Brokers - England
- Ministry of Mines - Canada
- Vizag Seaport Private Limited - India
- IEA Clean Coal Centre - UK
- Port Waratah Coal Services - Australia
- Bhatia International Limited - India
- Timah Investasi Mineral - Indoneisa
- Riau Bara Harum - Indonesia
- Directorate Of Revenue Intelligence - India
- Neyveli Lignite Corporation Ltd, - India
- Global Coal Blending Company Limited - Australia
- Sojitz Corporation - Japan
- Latin American Coal - Colombia
- Attock Cement Pakistan Limited
- Kaltim Prima Coal - Indonesia
- Indonesian Coal Mining Association
- Orica Mining Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Standard Chartered Bank - UAE
- Sical Logistics Limited - India
- Sakthi Sugars Limited - India
- Metalloyd Limited - United Kingdom
- Economic Council, Georgia
- Salva Resources Pvt Ltd - India
- SMC Global Power, Philippines
- Tamil Nadu electricity Board
- The University of Queensland
- Siam City Cement PLC, Thailand
- Bulk Trading Sa - Switzerland
- Chettinad Cement Corporation Ltd - India
- Meenaskhi Energy Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Authority, New Zealand
- Lanco Infratech Ltd - India
- Aboitiz Power Corporation - Philippines
- GVK Power & Infra Limited - India
- Indian Energy Exchange, India
- Banpu Public Company Limited - Thailand
- VISA Power Limited - India
- Renaissance Capital - South Africa
- Iligan Light & Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Star Paper Mills Limited - India
- Bharathi Cement Corporation - India
- Tata Chemicals Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Coalindo Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Ministry of Finance - Indonesia
- Coastal Gujarat Power Limited - India
- Mercuria Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Deloitte Consulting - India
- Cement Manufacturers Association - India
- Rashtriya Ispat Nigam Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Agrawal Coal Company - India
- Coal and Oil Company - UAE
- Mercator Lines Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Power Finance Corporation Ltd., India
- Barasentosa Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Thiess Contractors Indonesia
- Simpson Spence & Young - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cigading International Bulk Terminal - Indonesia
- Minerals Council of Australia
- Parry Sugars Refinery, India
- Mjunction Services Limited - India
- Mintek Dendrill Indonesia
- Siam City Cement - Thailand
- Borneo Indobara - Indonesia
- ASAPP Information Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karbindo Abesyapradhi - Indoneisa
- Karaikal Port Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Wilmar Investment Holdings
- PNOC Exploration Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Anglo American - United Kingdom
- Semirara Mining Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Indika Energy - Indonesia
- SMG Consultants - Indonesia
- Indogreen Group - Indonesia
- Australian Commodity Traders Exchange
- Sindya Power Generating Company Private Ltd
- Bukit Baiduri Energy - Indonesia
- Oldendorff Carriers - Singapore
- Eastern Coal Council - USA
- Merrill Lynch Commodities Europe
- Carbofer General Trading SA - India
- The Treasury - Australian Government
- Aditya Birla Group - India
- Bangladesh Power Developement Board
- Vijayanagar Sugar Pvt Ltd - India
- Central Electricity Authority - India
- New Zealand Coal & Carbon
- India Bulls Power Limited - India
- Essar Steel Hazira Ltd - India
- White Energy Company Limited
- Orica Australia Pty. Ltd.
- South Luzon Thermal Energy Corporation
- Central Java Power - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bhushan Steel Limited - India
- Gujarat Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- Thai Mozambique Logistica
- Posco Energy - South Korea
- Alfred C Toepfer International GmbH - Germany
- Bhoruka Overseas - Indonesia
- Toyota Tsusho Corporation, Japan
- Wood Mackenzie - Singapore
- Dalmia Cement Bharat India
- Independent Power Producers Association of India
- OPG Power Generation Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Trasteel International SA, Italy
- SN Aboitiz Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- LBH Netherlands Bv - Netherlands
- GMR Energy Limited - India
- Sree Jayajothi Cements Limited - India
- Kumho Petrochemical, South Korea
- CNBM International Corporation - China
- PowerSource Philippines DevCo
- Savvy Resources Ltd - HongKong
- Interocean Group of Companies - India
- Parliament of New Zealand
- Indo Tambangraya Megah - Indonesia
- Baramulti Group, Indonesia
- Ministry of Transport, Egypt
- Rio Tinto Coal - Australia
- Intertek Mineral Services - Indonesia
- TeaM Sual Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Ambuja Cements Ltd - India
- Videocon Industries ltd - India
- Antam Resourcindo - Indonesia
- Meralco Power Generation, Philippines
- Binh Thuan Hamico - Vietnam
- Altura Mining Limited, Indonesia
- Singapore Mercantile Exchange
- Manunggal Multi Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- MS Steel International - UAE
- Kobexindo Tractors - Indoneisa
- PTC India Limited - India
- Planning Commission, India
- Romanian Commodities Exchange
- Vedanta Resources Plc - India
- GAC Shipping (India) Pvt Ltd
- Georgia Ports Authority, United States
- International Coal Ventures Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Heidelberg Cement - Germany
- Medco Energi Mining Internasional
- Sarangani Energy Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Kartika Selabumi Mining - Indonesia
- Energy Development Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Indian Oil Corporation Limited
- Commonwealth Bank - Australia
- Madhucon Powers Ltd - India
- Global Green Power PLC Corporation, Philippines
- Chamber of Mines of South Africa
- ICICI Bank Limited - India
- Kepco SPC Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Malabar Cements Ltd - India
- Gujarat Sidhee Cement - India
- Makarim & Taira - Indonesia
- Electricity Generating Authority of Thailand
- Grasim Industreis Ltd - India
- Eastern Energy - Thailand
- Energy Link Ltd, New Zealand
- Petron Corporation, Philippines
- The State Trading Corporation of India Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Global Business Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Australian Coal Association
- Marubeni Corporation - India
- Jindal Steel & Power Ltd - India
- Pendopo Energi Batubara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Straits Asia Resources Limited - Singapore
- Africa Commodities Group - South Africa
- Kideco Jaya Agung - Indonesia
- Ind-Barath Power Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Ceylon Electricity Board - Sri Lanka
- Uttam Galva Steels Limited - India
- Xindia Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- Goldman Sachs - Singapore
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