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Saturday, 06 August 22
SUMITOMO Q1 PROFIT RISES 45% ON STRONGER PRICES OF COAL, NICKEL - REUTERS
Japanese trading house Sumitomo Corp 8053.T said on Wednesday its net profit for the April-June quarter rose 45% to a record thanks to higher prices of commodities such as coal and nickel as well as strong demand for steel products in North America.
Net profit for the three months climbed to a record 155.2 billion yen ($1.2 billion) from 107.3 billion yen a year earlier, but the company stuck to its annual profit forecast of 370 billion yen.
“Earnings from both resource and non-resource businesses have been stronger than anticipated earlier,” Sumitomo Chief Financial Officer Reiji Morooka told a news conference, adding that it may raise its profit guidance.
“On the other hand, the risk of a global economic slowdown and other uncertainties are increasing, and we will closely examine full-year forecasts going forward,” he said.
Sumitomo expects nickel production at its Ambatovy project in Madagascar to achieve its initial target of about 40,000 tonnes this financial year to March 31, after producing about 8,000 tonnes in the first quarter.
Increased oil and gas drilling activities in North America have also supported its steel pipe business in the April-June quarter and the company sees robust demand in pipes continuing through next March, Morooka said.
Asked whether Sumitomo expects any change in its business strategy in China amid rising tensions between China and Taiwan as well as China and the United States following U.S. House Speaker Nancy Pelosi’s visit to Taiwan, Morooka said no change is planned.
“It has become a major issue for us to think of how to deal with the heightened geopolitical risks triggered by not only the U.S.-China issue but also the Russia-Ukraine conflict,” Morooka said.
“We will pay close attention to the (U.S.-China) situation with high interest,” he said.
Source: Reuters
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Tuesday, 20 September 22
CHINA COAL OUTPUT UP 8.1 PCT IN AUGUST - XINHUA
China’s raw coal output posted stable expansion in August, official data showed.
The country produced 370 million tonnes of ra ...
Monday, 19 September 22
BUMA AUSTRALIA AWARDED A$400 MILLION CONTRACT EXTENSION BY BMA FOR GOONYELLA PROJECT
Press Release – PT Delta Dunia Makmur Tbk. (the "Company") announced that its subsidiary, PT Bukit Makmur Mandiri Utama ("BUMA ...
Saturday, 17 September 22
CHINA WARNS COAL COMPANIES AGAINST DUAL CONTRACTS, KEEP PRICES STABLE - REUTERS
China’s state economic planner warned coal companies operating at ports in the Bohai Bay region to comply with their long-term contracts to k ...
Saturday, 17 September 22
IS A GLOBAL RECESSION IMMINENT? - WORLD BANK
Since the beginning of the year, a rapid deterioration of growth prospects coupled with rising inflation and tightening financing conditions, has i ...
Saturday, 17 September 22
FITCH RATINGS REVISES GLOBAL METALS & MINING PRICE ASSUMPTIONS
Fitch Ratings has revised its metals and mining price assumptions reflecting evolving economic growth expectations and demand and supply dynamics.
...
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- Antam Resourcindo - Indonesia
- Energy Link Ltd, New Zealand
- Renaissance Capital - South Africa
- Siam City Cement - Thailand
- Coalindo Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Makarim & Taira - Indonesia
- GMR Energy Limited - India
- Xindia Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Mercuria Energy - Indonesia
- Sakthi Sugars Limited - India
- Borneo Indobara - Indonesia
- Australian Coal Association
- Riau Bara Harum - Indonesia
- Bhoruka Overseas - Indonesia
- CNBM International Corporation - China
- Grasim Industreis Ltd - India
- Singapore Mercantile Exchange
- Salva Resources Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Africa Commodities Group - South Africa
- Agrawal Coal Company - India
- Maharashtra Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Central Electricity Authority - India
- Asmin Koalindo Tuhup - Indonesia
- Eastern Coal Council - USA
- Petron Corporation, Philippines
- Larsen & Toubro Limited - India
- SMC Global Power, Philippines
- Semirara Mining Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Banpu Public Company Limited - Thailand
- Binh Thuan Hamico - Vietnam
- Altura Mining Limited, Indonesia
- Globalindo Alam Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Tamil Nadu electricity Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Essar Steel Hazira Ltd - India
- Independent Power Producers Association of India
- Eastern Energy - Thailand
- Ind-Barath Power Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Wilmar Investment Holdings
- Global Business Power Corporation, Philippines
- Baramulti Group, Indonesia
- Ambuja Cements Ltd - India
- South Luzon Thermal Energy Corporation
- PNOC Exploration Corporation - Philippines
- MS Steel International - UAE
- LBH Netherlands Bv - Netherlands
- Sinarmas Energy and Mining - Indonesia
- Rio Tinto Coal - Australia
- Indo Tambangraya Megah - Indonesia
- Siam City Cement PLC, Thailand
- Wood Mackenzie - Singapore
- Sree Jayajothi Cements Limited - India
- OPG Power Generation Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Karaikal Port Pvt Ltd - India
- ASAPP Information Group - India
- Uttam Galva Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Tata Chemicals Ltd - India
- Madhucon Powers Ltd - India
- SN Aboitiz Power Inc, Philippines
- Indian Oil Corporation Limited
- Chamber of Mines of South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Romanian Commodities Exchange
- Krishnapatnam Port Company Ltd. - India
- Marubeni Corporation - India
- Minerals Council of Australia
- Indian Energy Exchange, India
- Pendopo Energi Batubara - Indonesia
- Kideco Jaya Agung - Indonesia
- Bangladesh Power Developement Board
- San Jose City I Power Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Thai Mozambique Logistica
- Deloitte Consulting - India
- New Zealand Coal & Carbon
- Interocean Group of Companies - India
- Straits Asia Resources Limited - Singapore
- Savvy Resources Ltd - HongKong
- Petrochimia International Co. Ltd.- Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Power Finance Corporation Ltd., India
- Sojitz Corporation - Japan
- Posco Energy - South Korea
- Samtan Co., Ltd - South Korea
- Sindya Power Generating Company Private Ltd
- Oldendorff Carriers - Singapore
- Bhatia International Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aditya Birla Group - India
- Kohat Cement Company Ltd. - Pakistan
- Aboitiz Power Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Bukit Baiduri Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Medco Energi Mining Internasional
- The State Trading Corporation of India Ltd
- Therma Luzon, Inc, Philippines
- Mercator Lines Limited - India
- Ministry of Transport, Egypt
- Vedanta Resources Plc - India
- Heidelberg Cement - Germany
- AsiaOL BioFuels Corp., Philippines
- Timah Investasi Mineral - Indoneisa
- Kepco SPC Power Corporation, Philippines
- The Treasury - Australian Government
- Planning Commission, India
- Orica Mining Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- McConnell Dowell - Australia
- PowerSource Philippines DevCo
- Bukit Asam (Persero) Tbk - Indonesia
- Coal and Oil Company - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Kaltim Prima Coal - Indonesia
- Edison Trading Spa - Italy
- Standard Chartered Bank - UAE
- Chettinad Cement Corporation Ltd - India
- Bulk Trading Sa - Switzerland
- Kartika Selabumi Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Attock Cement Pakistan Limited
- Star Paper Mills Limited - India
- Commonwealth Bank - Australia
- Formosa Plastics Group - Taiwan
- Merrill Lynch Commodities Europe
- Trasteel International SA, Italy
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining and Power Corporation, Philippines
- Videocon Industries ltd - India
- Carbofer General Trading SA - India
- Maheswari Brothers Coal Limited - India
- Vizag Seaport Private Limited - India
- Barasentosa Lestari - Indonesia
- Indogreen Group - Indonesia
- Directorate Of Revenue Intelligence - India
- Kalimantan Lumbung Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- GVK Power & Infra Limited - India
- Port Waratah Coal Services - Australia
- Bharathi Cement Corporation - India
- India Bulls Power Limited - India
- Electricity Authority, New Zealand
- Gujarat Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- European Bulk Services B.V. - Netherlands
- Gujarat Sidhee Cement - India
- IHS Mccloskey Coal Group - USA
- Energy Development Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Rashtriya Ispat Nigam Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Meenaskhi Energy Private Limited - India
- Anglo American - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- White Energy Company Limited
- Indonesian Coal Mining Association
- Lanco Infratech Ltd - India
- ICICI Bank Limited - India
- Dalmia Cement Bharat India
- Australian Commodity Traders Exchange
- Economic Council, Georgia
- Indika Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- SMG Consultants - Indonesia
- PTC India Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Bhushan Steel Limited - India
- Mjunction Services Limited - India
- Orica Australia Pty. Ltd.
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CIMB Investment Bank - Malaysia
- Parliament of New Zealand
- Ministry of Finance - Indonesia
- Coastal Gujarat Power Limited - India
- London Commodity Brokers - England
- Ministry of Mines - Canada
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Central Java Power - Indonesia
- Jaiprakash Power Ventures ltd
- Latin American Coal - Colombia
- International Coal Ventures Pvt Ltd - India
- VISA Power Limited - India
- Parry Sugars Refinery, India
- Malabar Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Mintek Dendrill Indonesia
- Simpson Spence & Young - Indonesia
- Global Green Power PLC Corporation, Philippines
- Goldman Sachs - Singapore
- Meralco Power Generation, Philippines
- Kumho Petrochemical, South Korea
- Cement Manufacturers Association - India
- The University of Queensland
- Thiess Contractors Indonesia
- Jindal Steel & Power Ltd - India
- Sical Logistics Limited - India
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