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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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Thursday, 14 July 22
INDIA'S COAL IMPORTS HIT RECORD HIGH IN JUNE - REUTERS
India's coal imports hit a record high in June despite high global prices, data from three trade sources and Refinitiv ship tracking showed, as ...
Thursday, 14 July 22
CHINA'S JUNE COAL IMPORTS SLUMP AS TRADERS SHUN EXPENSIVE OVERSEAS CARGOES - REUTERS
China’s coal imports fell 33% in June from a year ago, with traders turning down expensive overseas cargoes in favor of domestic ones with ca ...
Wednesday, 13 July 22
KOWEPO TO IMPORT 2.79 MILLION TONS OF LOW TO MEDIUM COAL
COALspot.com: Korea Western Power Co., Ltd. (KOWEPO) has issued an International tender for Total 1360k MT of Min.4400 kcal/kg NCV coal and Total 1 ...
Wednesday, 13 July 22
HAVE MINERS MISSED THE BOAT TO INVEST AND GET AHEAD OF THE ENERGY TRANSITION? - WOOD MACKENZIE
Miners are in rude health, benefiting from economic stimuli, the post-pandemic recovery and associated supply constraints. Initially the Ukraine wa ...
Wednesday, 13 July 22
MARKET INSIGHT - INTERMODAL
Taking the previous market insight a step further, market sentiment remains bullish regarding the overall ROI of scrubbers, facing tailwinds from a ...
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- Sinarmas Energy and Mining - Indonesia
- Thiess Contractors Indonesia
- Jaiprakash Power Ventures ltd
- Kalimantan Lumbung Energi - Indonesia
- Africa Commodities Group - South Africa
- Sakthi Sugars Limited - India
- Latin American Coal - Colombia
- Tata Chemicals Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Meenaskhi Energy Private Limited - India
- Deloitte Consulting - India
- Samtan Co., Ltd - South Korea
- Electricity Authority, New Zealand
- Marubeni Corporation - India
- Bharathi Cement Corporation - India
- Standard Chartered Bank - UAE
- Grasim Industreis Ltd - India
- Coal and Oil Company - UAE
- Coastal Gujarat Power Limited - India
- Edison Trading Spa - Italy
- Carbofer General Trading SA - India
- Indogreen Group - Indonesia
- Therma Luzon, Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Riau Bara Harum - Indonesia
- Baramulti Group, Indonesia
- Ministry of Transport, Egypt
- SN Aboitiz Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Central Java Power - Indonesia
- Globalindo Alam Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Medco Energi Mining Internasional
- Antam Resourcindo - Indonesia
- Timah Investasi Mineral - Indoneisa
- Global Coal Blending Company Limited - Australia
- Savvy Resources Ltd - HongKong
- VISA Power Limited - India
- Siam City Cement PLC, Thailand
- Gujarat Mineral Development Corp Ltd - India
- IHS Mccloskey Coal Group - USA
- Global Green Power PLC Corporation, Philippines
- SMG Consultants - Indonesia
- Binh Thuan Hamico - Vietnam
- Singapore Mercantile Exchange
- Power Finance Corporation Ltd., India
- Formosa Plastics Group - Taiwan
- Ceylon Electricity Board - Sri Lanka
- Wilmar Investment Holdings
- International Coal Ventures Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement - Thailand
- Directorate Of Revenue Intelligence - India
- Commonwealth Bank - Australia
- Miang Besar Coal Terminal - Indonesia
- Coalindo Energy - Indonesia
- TeaM Sual Corporation - Philippines
- The Treasury - Australian Government
- Intertek Mineral Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Ministry of Finance - Indonesia
- Mercator Lines Limited - India
- SMC Global Power, Philippines
- Sarangani Energy Corporation, Philippines
- Altura Mining Limited, Indonesia
- Toyota Tsusho Corporation, Japan
- Sical Logistics Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Jorong Barutama Greston.PT - Indonesia
- Banpu Public Company Limited - Thailand
- Indonesian Coal Mining Association
- Bayan Resources Tbk. - Indonesia
- Bhushan Steel Limited - India
- Kartika Selabumi Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Bhatia International Limited - India
- MS Steel International - UAE
- GMR Energy Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Renaissance Capital - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- Mintek Dendrill Indonesia
- Videocon Industries ltd - India
- Kumho Petrochemical, South Korea
- Goldman Sachs - Singapore
- Indika Energy - Indonesia
- White Energy Company Limited
- Ambuja Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- OPG Power Generation Pvt Ltd - India
- The University of Queensland
- Heidelberg Cement - Germany
- Xindia Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Central Electricity Authority - India
- Oldendorff Carriers - Singapore
- Global Business Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Bukit Makmur.PT - Indonesia
- Bhoruka Overseas - Indonesia
- ASAPP Information Group - India
- PetroVietnam Power Coal Import and Supply Company
- Iligan Light & Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- PTC India Limited - India
- Indian Oil Corporation Limited
- Electricity Generating Authority of Thailand
- Wood Mackenzie - Singapore
- Metalloyd Limited - United Kingdom
- Salva Resources Pvt Ltd - India
- Agrawal Coal Company - India
- Ind-Barath Power Infra Limited - India
- Rio Tinto Coal - Australia
- IEA Clean Coal Centre - UK
- Port Waratah Coal Services - Australia
- London Commodity Brokers - England
- Aditya Birla Group - India
- Sojitz Corporation - Japan
- Trasteel International SA, Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Vedanta Resources Plc - India
- Larsen & Toubro Limited - India
- Price Waterhouse Coopers - Russia
- Cigading International Bulk Terminal - Indonesia
- Attock Cement Pakistan Limited
- Australian Commodity Traders Exchange
- Bangladesh Power Developement Board
- Tamil Nadu electricity Board
- Indo Tambangraya Megah - Indonesia
- Leighton Contractors Pty Ltd - Australia
- New Zealand Coal & Carbon
- Essar Steel Hazira Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Planning Commission, India
- Eastern Coal Council - USA
- Petron Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Mjunction Services Limited - India
- Parliament of New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Lanco Infratech Ltd - India
- PowerSource Philippines DevCo
- Orica Australia Pty. Ltd.
- Pendopo Energi Batubara - Indonesia
- Malabar Cements Ltd - India
- San Jose City I Power Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Kapuas Tunggal Persada - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Star Paper Mills Limited - India
- Chettinad Cement Corporation Ltd - India
- South Luzon Thermal Energy Corporation
- Bukit Baiduri Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Sree Jayajothi Cements Limited - India
- CNBM International Corporation - China
- Gujarat Sidhee Cement - India
- Alfred C Toepfer International GmbH - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Karaikal Port Pvt Ltd - India
- Makarim & Taira - Indonesia
- Vizag Seaport Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Merrill Lynch Commodities Europe
- Economic Council, Georgia
- Eastern Energy - Thailand
- CIMB Investment Bank - Malaysia
- Sindya Power Generating Company Private Ltd
- Kepco SPC Power Corporation, Philippines
- Romanian Commodities Exchange
- Simpson Spence & Young - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Energy Development Corp, Philippines
- Independent Power Producers Association of India
- Parry Sugars Refinery, India
- Kohat Cement Company Ltd. - Pakistan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Energy Link Ltd, New Zealand
- India Bulls Power Limited - India
- Manunggal Multi Energi - Indonesia
- ICICI Bank Limited - India
- Georgia Ports Authority, United States
- Interocean Group of Companies - India
- Cement Manufacturers Association - India
- Thai Mozambique Logistica
- LBH Netherlands Bv - Netherlands
- Posco Energy - South Korea
- Borneo Indobara - Indonesia
- Chamber of Mines of South Africa
- Dalmia Cement Bharat India
- GVK Power & Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Australian Coal Association
- Mercuria Energy - Indonesia
- Minerals Council of Australia
- Indian Energy Exchange, India
- Kaltim Prima Coal - Indonesia
- The State Trading Corporation of India Ltd
- Rashtriya Ispat Nigam Limited - India
- Anglo American - United Kingdom
- Meralco Power Generation, Philippines
- PNOC Exploration Corporation - Philippines
- McConnell Dowell - Australia
- Ministry of Mines - Canada
- Madhucon Powers Ltd - India
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