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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, 08 July 22
AUSTRALIAN COAL PRICE BREAKS AGAIN LEVEL US$ 400/TON!, UP AROUND 4% - CNBC INDONESIA
Coal prices shot up again and crossed the level of US$ 400 per ton. On Thursday (7/7/2022) trading, the selling price of August contract closed at ...
Friday, 08 July 22
INDONESIA MULLS MORE FREQUENT SETTING OF CRUDE PALM OIL REFERENCE PRICE - REUTERS
Indonesia is considering setting its crude palm oil (CPO) export reference price every two weeks instead of monthly, a senior trade ministry offici ...
Friday, 08 July 22
BUNKER PRICES EXPECTED TO RECOVER LOST GROUND NEXT WEEK - SERGEY IVANOV, MABUX
Over the Week 27, the world bunker indices showed a sharp decline, primarily due to the fall in oil prices on July 05. The 380 HSFO index fell by 5 ...
Thursday, 07 July 22
NTPC MINES 61% MORE COAL AT 4.22 MN METRIC TONNES IN APRIL-JUNE: PTI
State-owned power giant NTPC on Tuesday said that its coal output grew by 61 per cent to Rs 42.40 lakh metric tonnes in April-June quarter from 26. ...
Thursday, 07 July 22
COAL INDIA'S PRODUCTION SETS RECORD INCREASE OF 29% YOY AT 36 MT IN Q1FY23 - IIFL SECURITIES
Coal India Limited (CIL) has ended April-June quarter FY’23 capping a historic high of 29% yoy output growth, compared to same quarter FY&rsq ...
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- Central Electricity Authority - India
- Ministry of Mines - Canada
- Australian Commodity Traders Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Business Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Trasteel International SA, Italy
- Bulk Trading Sa - Switzerland
- Neyveli Lignite Corporation Ltd, - India
- Simpson Spence & Young - Indonesia
- Bangladesh Power Developement Board
- Makarim & Taira - Indonesia
- SMC Global Power, Philippines
- Maheswari Brothers Coal Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Binh Thuan Hamico - Vietnam
- GMR Energy Limited - India
- Global Green Power PLC Corporation, Philippines
- Vizag Seaport Private Limited - India
- Bharathi Cement Corporation - India
- Malabar Cements Ltd - India
- Minerals Council of Australia
- Ministry of Transport, Egypt
- Rio Tinto Coal - Australia
- Borneo Indobara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhatia International Limited - India
- Formosa Plastics Group - Taiwan
- Sakthi Sugars Limited - India
- Samtan Co., Ltd - South Korea
- Ministry of Finance - Indonesia
- CIMB Investment Bank - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- Sinarmas Energy and Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Electricity Authority, New Zealand
- Kobexindo Tractors - Indoneisa
- Goldman Sachs - Singapore
- India Bulls Power Limited - India
- Indika Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Baramulti Group, Indonesia
- Kideco Jaya Agung - Indonesia
- CNBM International Corporation - China
- Mjunction Services Limited - India
- Economic Council, Georgia
- Merrill Lynch Commodities Europe
- Asmin Koalindo Tuhup - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- McConnell Dowell - Australia
- Gujarat Sidhee Cement - India
- OPG Power Generation Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Indian Energy Exchange, India
- Semirara Mining and Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- AsiaOL BioFuels Corp., Philippines
- Intertek Mineral Services - Indonesia
- Aboitiz Power Corporation - Philippines
- Australian Coal Association
- New Zealand Coal & Carbon
- Global Coal Blending Company Limited - Australia
- Dalmia Cement Bharat India
- Mercator Lines Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Sojitz Corporation - Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Siam City Cement PLC, Thailand
- SMG Consultants - Indonesia
- Coastal Gujarat Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Coalindo Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement - Thailand
- International Coal Ventures Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Vedanta Resources Plc - India
- VISA Power Limited - India
- Ambuja Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Tamil Nadu electricity Board
- Coal and Oil Company - UAE
- Bhushan Steel Limited - India
- Thai Mozambique Logistica
- Mercuria Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Romanian Commodities Exchange
- Krishnapatnam Port Company Ltd. - India
- Meenaskhi Energy Private Limited - India
- Meralco Power Generation, Philippines
- Sindya Power Generating Company Private Ltd
- Star Paper Mills Limited - India
- Standard Chartered Bank - UAE
- Banpu Public Company Limited - Thailand
- Chamber of Mines of South Africa
- Orica Mining Services - Indonesia
- Georgia Ports Authority, United States
- Jindal Steel & Power Ltd - India
- White Energy Company Limited
- ICICI Bank Limited - India
- Orica Australia Pty. Ltd.
- Electricity Generating Authority of Thailand
- Renaissance Capital - South Africa
- Gujarat Mineral Development Corp Ltd - India
- Toyota Tsusho Corporation, Japan
- Alfred C Toepfer International GmbH - Germany
- Parliament of New Zealand
- Kartika Selabumi Mining - Indonesia
- Planning Commission, India
- Aditya Birla Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petrochimia International Co. Ltd.- Taiwan
- Karaikal Port Pvt Ltd - India
- Carbofer General Trading SA - India
- Parry Sugars Refinery, India
- MS Steel International - UAE
- Cement Manufacturers Association - India
- Globalindo Alam Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Bayan Resources Tbk. - Indonesia
- Mintek Dendrill Indonesia
- Indian Oil Corporation Limited
- Indogreen Group - Indonesia
- IHS Mccloskey Coal Group - USA
- IEA Clean Coal Centre - UK
- Anglo American - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Power Finance Corporation Ltd., India
- Deloitte Consulting - India
- Latin American Coal - Colombia
- The State Trading Corporation of India Ltd
- Petron Corporation, Philippines
- ASAPP Information Group - India
- GVK Power & Infra Limited - India
- Africa Commodities Group - South Africa
- Agrawal Coal Company - India
- The University of Queensland
- PNOC Exploration Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- South Luzon Thermal Energy Corporation
- Jaiprakash Power Ventures ltd
- Marubeni Corporation - India
- Singapore Mercantile Exchange
- Ceylon Electricity Board - Sri Lanka
- Offshore Bulk Terminal Pte Ltd, Singapore
- Therma Luzon, Inc, Philippines
- Lanco Infratech Ltd - India
- Tata Chemicals Ltd - India
- PowerSource Philippines DevCo
- PetroVietnam Power Coal Import and Supply Company
- Pendopo Energi Batubara - Indonesia
- Thiess Contractors Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Commonwealth Bank - Australia
- Larsen & Toubro Limited - India
- Energy Link Ltd, New Zealand
- Xindia Steels Limited - India
- Eastern Energy - Thailand
- Central Java Power - Indonesia
- Savvy Resources Ltd - HongKong
- Bukit Asam (Persero) Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- LBH Netherlands Bv - Netherlands
- Timah Investasi Mineral - Indoneisa
- London Commodity Brokers - England
- Ind-Barath Power Infra Limited - India
- Grasim Industreis Ltd - India
- Independent Power Producers Association of India
- Rashtriya Ispat Nigam Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The Treasury - Australian Government
- Vijayanagar Sugar Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Metalloyd Limited - United Kingdom
- Oldendorff Carriers - Singapore
- European Bulk Services B.V. - Netherlands
- PTC India Limited - India
- Videocon Industries ltd - India
- Straits Asia Resources Limited - Singapore
- Indonesian Coal Mining Association
- Wilmar Investment Holdings
- Kaltim Prima Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Sarangani Energy Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Gujarat Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- Essar Steel Hazira Ltd - India
- Heidelberg Cement - Germany
- Attock Cement Pakistan Limited
- Madhucon Powers Ltd - India
- Salva Resources Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Interocean Group of Companies - India
- Directorate General of MIneral and Coal - Indonesia
- Medco Energi Mining Internasional
- Price Waterhouse Coopers - Russia
- Posco Energy - South Korea
- Eastern Coal Council - USA
- San Jose City I Power Corp, Philippines
- Edison Trading Spa - Italy
- Sical Logistics Limited - India
- Energy Development Corp, Philippines
- Port Waratah Coal Services - Australia
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