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