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