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