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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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Tuesday, 13 February 24
WHAT IS THE OUTLOOK FOR THE NATURAL GAS SPOT PRICE IN 2024 AND 2025? EIA
We expect the U.S. benchmark Henry Hub natural gas spot price to average higher in 2024 and 2025 than in 2023, but to remain lower than $3.00 per m ...
Monday, 12 February 24
US THERMAL COAL EXPORTS HIT 5-YEAR HIGHS AND TOP $5 BLN IN 2023 - REUTERS
United States exporters of thermal coal earned more than $5 billion in 2023 as they shipped out more than 32.5 million metric tons of the high-poll ...
Tuesday, 06 February 24
NEW E-FUELS PROJECT TO MAKE INTERNATIONAL SHIPPING CLIMATE-NEUTRAL - RINA
Transport and trade on the ocean blue must be made much greener. This is the goal of the new €17 million European GAMMA project, where compani ...
Tuesday, 06 February 24
INDIA SEES ANNUAL COAL OUTPUT UP 10.9% IN 2024/25 - REUTERS
India expects domestic coal output to increase by 10.9% to 1.13 billion metric tons in the fiscal year ending March 2025, a senior government offic ...
Tuesday, 06 February 24
INDIA'S COAL PRODUCTION INCREASES BY 10.3% TO 99.73 MILLION TONNE IN JANUARY - PTI
The country’s coal output rose 10.3 per cent to 99.73 Million Tonne (MT) in January, over the same month in the previous fiscal.
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- Timah Investasi Mineral - Indoneisa
- Chamber of Mines of South Africa
- Parliament of New Zealand
- Formosa Plastics Group - Taiwan
- LBH Netherlands Bv - Netherlands
- Bharathi Cement Corporation - India
- Mintek Dendrill Indonesia
- Bhatia International Limited - India
- Power Finance Corporation Ltd., India
- Gujarat Mineral Development Corp Ltd - India
- Renaissance Capital - South Africa
- Global Green Power PLC Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- New Zealand Coal & Carbon
- Orica Mining Services - Indonesia
- Indian Energy Exchange, India
- Electricity Generating Authority of Thailand
- Star Paper Mills Limited - India
- The Treasury - Australian Government
- European Bulk Services B.V. - Netherlands
- Aditya Birla Group - India
- Sojitz Corporation - Japan
- Ministry of Transport, Egypt
- Salva Resources Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Thai Mozambique Logistica
- Bhoruka Overseas - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement PLC, Thailand
- Tata Chemicals Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- McConnell Dowell - Australia
- Directorate Of Revenue Intelligence - India
- Neyveli Lignite Corporation Ltd, - India
- Cement Manufacturers Association - India
- Toyota Tsusho Corporation, Japan
- Eastern Coal Council - USA
- Merrill Lynch Commodities Europe
- Wood Mackenzie - Singapore
- Holcim Trading Pte Ltd - Singapore
- Vedanta Resources Plc - India
- Indogreen Group - Indonesia
- Global Coal Blending Company Limited - Australia
- Mercuria Energy - Indonesia
- SMC Global Power, Philippines
- Sarangani Energy Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Kaltim Prima Coal - Indonesia
- Petron Corporation, Philippines
- Coalindo Energy - Indonesia
- Semirara Mining Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Kideco Jaya Agung - Indonesia
- Singapore Mercantile Exchange
- Energy Development Corp, Philippines
- Mercator Lines Limited - India
- AsiaOL BioFuels Corp., Philippines
- Kapuas Tunggal Persada - Indonesia
- Bayan Resources Tbk. - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Independent Power Producers Association of India
- San Jose City I Power Corp, Philippines
- Australian Coal Association
- ASAPP Information Group - India
- Indian Oil Corporation Limited
- Borneo Indobara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Manunggal Multi Energi - Indonesia
- Altura Mining Limited, Indonesia
- Minerals Council of Australia
- Sinarmas Energy and Mining - Indonesia
- Barasentosa Lestari - Indonesia
- Heidelberg Cement - Germany
- Miang Besar Coal Terminal - Indonesia
- Latin American Coal - Colombia
- Parry Sugars Refinery, India
- Gujarat Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- CNBM International Corporation - China
- SN Aboitiz Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Medco Energi Mining Internasional
- Bangladesh Power Developement Board
- Agrawal Coal Company - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- VISA Power Limited - India
- IEA Clean Coal Centre - UK
- Uttam Galva Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Makarim & Taira - Indonesia
- Larsen & Toubro Limited - India
- Orica Australia Pty. Ltd.
- Kumho Petrochemical, South Korea
- Georgia Ports Authority, United States
- Global Business Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- White Energy Company Limited
- Samtan Co., Ltd - South Korea
- Jindal Steel & Power Ltd - India
- Binh Thuan Hamico - Vietnam
- Madhucon Powers Ltd - India
- Essar Steel Hazira Ltd - India
- Bhushan Steel Limited - India
- Bulk Trading Sa - Switzerland
- Electricity Authority, New Zealand
- Marubeni Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- GAC Shipping (India) Pvt Ltd
- Vizag Seaport Private Limited - India
- Jaiprakash Power Ventures ltd
- GVK Power & Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMG Consultants - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement - Thailand
- Grasim Industreis Ltd - India
- Goldman Sachs - Singapore
- ICICI Bank Limited - India
- Posco Energy - South Korea
- Ind-Barath Power Infra Limited - India
- GMR Energy Limited - India
- Sindya Power Generating Company Private Ltd
- Tamil Nadu electricity Board
- PetroVietnam Power Coal Import and Supply Company
- Dalmia Cement Bharat India
- Globalindo Alam Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Ministry of Finance - Indonesia
- Indika Energy - Indonesia
- India Bulls Power Limited - India
- Oldendorff Carriers - Singapore
- PowerSource Philippines DevCo
- Maharashtra Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Kartika Selabumi Mining - Indonesia
- Gujarat Sidhee Cement - India
- OPG Power Generation Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- PTC India Limited - India
- Kepco SPC Power Corporation, Philippines
- Carbofer General Trading SA - India
- Alfred C Toepfer International GmbH - Germany
- Maheswari Brothers Coal Limited - India
- Trasteel International SA, Italy
- Iligan Light & Power Inc, Philippines
- Central Java Power - Indonesia
- Therma Luzon, Inc, Philippines
- Meralco Power Generation, Philippines
- IHS Mccloskey Coal Group - USA
- PNOC Exploration Corporation - Philippines
- Interocean Group of Companies - India
- Xindia Steels Limited - India
- The University of Queensland
- Banpu Public Company Limited - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Link Ltd, New Zealand
- The State Trading Corporation of India Ltd
- Indonesian Coal Mining Association
- Price Waterhouse Coopers - Russia
- Central Electricity Authority - India
- International Coal Ventures Pvt Ltd - India
- Wilmar Investment Holdings
- Videocon Industries ltd - India
- Straits Asia Resources Limited - Singapore
- Antam Resourcindo - Indonesia
- Deloitte Consulting - India
- Chettinad Cement Corporation Ltd - India
- Sakthi Sugars Limited - India
- Attock Cement Pakistan Limited
- Ministry of Mines - Canada
- Simpson Spence & Young - Indonesia
- Thiess Contractors Indonesia
- Coal and Oil Company - UAE
- Standard Chartered Bank - UAE
- Jorong Barutama Greston.PT - Indonesia
- Sical Logistics Limited - India
- Baramulti Group, Indonesia
- Eastern Energy - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Indo Tambangraya Megah - Indonesia
- Economic Council, Georgia
- Sree Jayajothi Cements Limited - India
- Malabar Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mjunction Services Limited - India
- Krishnapatnam Port Company Ltd. - India
- Anglo American - United Kingdom
- Africa Commodities Group - South Africa
- South Luzon Thermal Energy Corporation
- Aboitiz Power Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- Edison Trading Spa - Italy
- MS Steel International - UAE
- GN Power Mariveles Coal Plant, Philippines
- Lanco Infratech Ltd - India
- TeaM Sual Corporation - Philippines
- Rio Tinto Coal - Australia
- Commonwealth Bank - Australia
- Ambuja Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Meenaskhi Energy Private Limited - India
- Planning Commission, India
- Romanian Commodities Exchange
- Coastal Gujarat Power Limited - India
- Pendopo Energi Batubara - Indonesia
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