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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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Sunday, 03 July 22
CHINESE VICE PREMIER STRESSES CLEAN, EFFICIENT USE OF COAL - XINHUA
Chinese Vice Premier Han Zheng has stressed efforts to promote the clean and efficient use of coal, and pursue green, low-carbon and high-quality d ...
Sunday, 03 July 22
SOVEREIGN SECTOR OUTLOOK REVISED TO NEUTRAL ON UKRAINE WAR IMPACT - FITCH RATINGS
The deterioration in global sovereign credit conditions this year relative to our expectations at end-2021 has caused Fitch Ratings to change its g ...
Saturday, 02 July 22
GLOBAL SEABORNE COAL EXPORTS IN 2021 INCREASED BY 4.4% Y-O-Y TO 1147 MLN TONNES - BANCHERO COSTA
In the full 12 months of 2021, global seaborne coal exports increased by +4.4% y-o-y to 1147 mln tonnes, from 1099 mln tonnes in 2020, according to ...
Friday, 01 July 22
INDIA'S TOP CEMENT MAKER PAYING FOR RUSSIAN COAL IN CHINESE YUAN - REUTERS
India’s biggest cement producer, UltraTech Cement ULTC.NS, is importing a cargo of Russian coal and paying using Chinese yuan, according to a ...
Thursday, 30 June 22
FINANCIAL GAINS SUPPORT COAL TRANSITION - BALTIC EXCHANGE
Support for the shift away from coal dependency continues to mount, with the International Monetary Fund (IMF) calculating that the move would gene ...
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- Pipit Mutiara Jaya. PT, Indonesia
- Singapore Mercantile Exchange
- Essar Steel Hazira Ltd - India
- Anglo American - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Coal and Oil Company - UAE
- Power Finance Corporation Ltd., India
- Trasteel International SA, Italy
- Electricity Generating Authority of Thailand
- Central Java Power - Indonesia
- Barasentosa Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Electricity Authority, New Zealand
- Samtan Co., Ltd - South Korea
- Therma Luzon, Inc, Philippines
- Indogreen Group - Indonesia
- Kartika Selabumi Mining - Indonesia
- Australian Coal Association
- Georgia Ports Authority, United States
- Bhoruka Overseas - Indonesia
- Ministry of Mines - Canada
- Orica Mining Services - Indonesia
- Petron Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kobexindo Tractors - Indoneisa
- Tamil Nadu electricity Board
- Price Waterhouse Coopers - Russia
- Simpson Spence & Young - Indonesia
- IHS Mccloskey Coal Group - USA
- Timah Investasi Mineral - Indoneisa
- Thai Mozambique Logistica
- TNB Fuel Sdn Bhd - Malaysia
- Intertek Mineral Services - Indonesia
- Makarim & Taira - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Indo Tambangraya Megah - Indonesia
- Gujarat Sidhee Cement - India
- Malabar Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Global Green Power PLC Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Latin American Coal - Colombia
- Baramulti Group, Indonesia
- Kumho Petrochemical, South Korea
- Parliament of New Zealand
- Leighton Contractors Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Lanco Infratech Ltd - India
- Bhatia International Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coastal Gujarat Power Limited - India
- Economic Council, Georgia
- Semirara Mining Corp, Philippines
- Ministry of Finance - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Minerals Council of Australia
- Meenaskhi Energy Private Limited - India
- ASAPP Information Group - India
- Bulk Trading Sa - Switzerland
- Aditya Birla Group - India
- Indian Oil Corporation Limited
- Gujarat Mineral Development Corp Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Sarangani Energy Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Standard Chartered Bank - UAE
- Straits Asia Resources Limited - Singapore
- Metalloyd Limited - United Kingdom
- Planning Commission, India
- Australian Commodity Traders Exchange
- Siam City Cement - Thailand
- Carbofer General Trading SA - India
- Salva Resources Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Goldman Sachs - Singapore
- Uttam Galva Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Siam City Cement PLC, Thailand
- Sree Jayajothi Cements Limited - India
- OPG Power Generation Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Kalimantan Lumbung Energi - Indonesia
- Port Waratah Coal Services - Australia
- Iligan Light & Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- McConnell Dowell - Australia
- Mintek Dendrill Indonesia
- Chamber of Mines of South Africa
- Maharashtra Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Eastern Energy - Thailand
- Sical Logistics Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- VISA Power Limited - India
- Orica Australia Pty. Ltd.
- Madhucon Powers Ltd - India
- Dalmia Cement Bharat India
- SMG Consultants - Indonesia
- Indika Energy - Indonesia
- Grasim Industreis Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Toyota Tsusho Corporation, Japan
- The Treasury - Australian Government
- Mercator Lines Limited - India
- Independent Power Producers Association of India
- Oldendorff Carriers - Singapore
- Commonwealth Bank - Australia
- IEA Clean Coal Centre - UK
- The State Trading Corporation of India Ltd
- Gujarat Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thiess Contractors Indonesia
- Antam Resourcindo - Indonesia
- PowerSource Philippines DevCo
- Rio Tinto Coal - Australia
- PTC India Limited - India
- Africa Commodities Group - South Africa
- Asmin Koalindo Tuhup - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Global Business Power Corporation, Philippines
- Deloitte Consulting - India
- San Jose City I Power Corp, Philippines
- MS Steel International - UAE
- Cement Manufacturers Association - India
- Jaiprakash Power Ventures ltd
- Vedanta Resources Plc - India
- Pendopo Energi Batubara - Indonesia
- Indian Energy Exchange, India
- India Bulls Power Limited - India
- Heidelberg Cement - Germany
- Attock Cement Pakistan Limited
- Aboitiz Power Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- ICICI Bank Limited - India
- SN Aboitiz Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Mjunction Services Limited - India
- Central Electricity Authority - India
- Indonesian Coal Mining Association
- GVK Power & Infra Limited - India
- Mercuria Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Bhushan Steel Limited - India
- SMC Global Power, Philippines
- South Luzon Thermal Energy Corporation
- Marubeni Corporation - India
- Edison Trading Spa - Italy
- TeaM Sual Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Karaikal Port Pvt Ltd - India
- Parry Sugars Refinery, India
- Jindal Steel & Power Ltd - India
- Bharathi Cement Corporation - India
- Kepco SPC Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Development Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Banpu Public Company Limited - Thailand
- LBH Netherlands Bv - Netherlands
- Manunggal Multi Energi - Indonesia
- The University of Queensland
- Energy Link Ltd, New Zealand
- Posco Energy - South Korea
- Ministry of Transport, Egypt
- Eastern Coal Council - USA
- GN Power Mariveles Coal Plant, Philippines
- Tata Chemicals Ltd - India
- London Commodity Brokers - England
- Borneo Indobara - Indonesia
- Videocon Industries ltd - India
- Altura Mining Limited, Indonesia
- White Energy Company Limited
- Kaltim Prima Coal - Indonesia
- Romanian Commodities Exchange
- Wilmar Investment Holdings
- Chettinad Cement Corporation Ltd - India
- Meralco Power Generation, Philippines
- Merrill Lynch Commodities Europe
- Jorong Barutama Greston.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- Star Paper Mills Limited - India
- Sinarmas Energy and Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- CNBM International Corporation - China
- Riau Bara Harum - Indonesia
- Interocean Group of Companies - India
- GMR Energy Limited - India
- Bangladesh Power Developement Board
- Ambuja Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Agrawal Coal Company - India
- Larsen & Toubro Limited - India
- CIMB Investment Bank - Malaysia
- Maheswari Brothers Coal Limited - India
- New Zealand Coal & Carbon
- Bayan Resources Tbk. - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Xindia Steels Limited - India
- Wood Mackenzie - Singapore
- Sojitz Corporation - Japan
- Medco Energi Mining Internasional
- Renaissance Capital - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Directorate Of Revenue Intelligence - India
- PNOC Exploration Corporation - Philippines
- Coalindo Energy - Indonesia
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