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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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Thursday, 03 February 22
COAL SHORTAGE NOW AT ALARMING LEVELS, SAY ALUMINIUM PRODUCERS - IANS
With no relief in sight despite coal stocks running critically low and production disruptions looming across the Indian aluminium sector, the Alumi ...
Wednesday, 02 February 22
HIGH COKING COAL PRICES PROVIDE GLIMPSE INTO STEELMAKING'S FUTURE - MCKINSEY
Last year was a volatile one in global commodity markets. Demand for coking coal, an essential raw material in the production of steel, was extreme ...
Wednesday, 02 February 22
INDONESIA'S RESTRICTIONS ON COMMODITIES RATTLE MARKETS, MORE MOVES LIKELY - REUTERS
In just the first month of this year, Indonesian policymakers have rattled global markets with restrictions on some of its biggest commodities expo ...
Wednesday, 02 February 22
CHINA'S TOP COAL PRODUCER FORECASTS 28 PCT PROFIT GROWTH IN 2021 - XINHUA
China Shenhua Energy Company Limited, one of the country’s biggest coal producers, said its net profits are expected to jump by 28 percent in ...
Wednesday, 02 February 22
COAL STORAGE IN CHINA’S POWER PLANTS NEAR RECORD HIGHS - XINHUA
Coal inflows into China’s power plants have picked up, bringing their coal storage to near record highs, the National Development and Reform ...
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- Carbofer General Trading SA - India
- Rio Tinto Coal - Australia
- Directorate Of Revenue Intelligence - India
- Oldendorff Carriers - Singapore
- Miang Besar Coal Terminal - Indonesia
- Attock Cement Pakistan Limited
- Meenaskhi Energy Private Limited - India
- Siam City Cement - Thailand
- Krishnapatnam Port Company Ltd. - India
- Gujarat Sidhee Cement - India
- PetroVietnam Power Coal Import and Supply Company
- Ceylon Electricity Board - Sri Lanka
- GAC Shipping (India) Pvt Ltd
- GVK Power & Infra Limited - India
- Power Finance Corporation Ltd., India
- Interocean Group of Companies - India
- Binh Thuan Hamico - Vietnam
- SMC Global Power, Philippines
- Iligan Light & Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Bhatia International Limited - India
- Bukit Makmur.PT - Indonesia
- Orica Mining Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Deloitte Consulting - India
- IEA Clean Coal Centre - UK
- Kumho Petrochemical, South Korea
- Coalindo Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Tamil Nadu electricity Board
- Port Waratah Coal Services - Australia
- SMG Consultants - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- SN Aboitiz Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Simpson Spence & Young - Indonesia
- Edison Trading Spa - Italy
- PNOC Exploration Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Agrawal Coal Company - India
- TeaM Sual Corporation - Philippines
- ASAPP Information Group - India
- Energy Development Corp, Philippines
- Ministry of Finance - Indonesia
- Sarangani Energy Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Price Waterhouse Coopers - Russia
- Global Green Power PLC Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Sical Logistics Limited - India
- Sojitz Corporation - Japan
- Manunggal Multi Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- The State Trading Corporation of India Ltd
- Billiton Holdings Pty Ltd - Australia
- GMR Energy Limited - India
- Rashtriya Ispat Nigam Limited - India
- Jindal Steel & Power Ltd - India
- White Energy Company Limited
- Neyveli Lignite Corporation Ltd, - India
- Star Paper Mills Limited - India
- Metalloyd Limited - United Kingdom
- Indian Oil Corporation Limited
- Aboitiz Power Corporation - Philippines
- Lanco Infratech Ltd - India
- Planning Commission, India
- Central Electricity Authority - India
- PowerSource Philippines DevCo
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Posco Energy - South Korea
- International Coal Ventures Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- LBH Netherlands Bv - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Bulk Trading Sa - Switzerland
- Eastern Energy - Thailand
- Bangladesh Power Developement Board
- Karaikal Port Pvt Ltd - India
- The Treasury - Australian Government
- Dalmia Cement Bharat India
- Leighton Contractors Pty Ltd - Australia
- Malabar Cements Ltd - India
- Central Java Power - Indonesia
- Indian Energy Exchange, India
- Australian Coal Association
- Vedanta Resources Plc - India
- Indika Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Mjunction Services Limited - India
- MS Steel International - UAE
- Wilmar Investment Holdings
- Pendopo Energi Batubara - Indonesia
- Anglo American - United Kingdom
- Larsen & Toubro Limited - India
- Aditya Birla Group - India
- Ambuja Cements Ltd - India
- Siam City Cement PLC, Thailand
- Maharashtra Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Economic Council, Georgia
- Barasentosa Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Minerals Council of Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Africa Commodities Group - South Africa
- Romanian Commodities Exchange
- McConnell Dowell - Australia
- Trasteel International SA, Italy
- Wood Mackenzie - Singapore
- Mintek Dendrill Indonesia
- Bhushan Steel Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Coal and Oil Company - UAE
- Ministry of Transport, Egypt
- Tata Chemicals Ltd - India
- Bhoruka Overseas - Indonesia
- CIMB Investment Bank - Malaysia
- Bukit Baiduri Energy - Indonesia
- Marubeni Corporation - India
- Chettinad Cement Corporation Ltd - India
- Global Business Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Indonesian Coal Mining Association
- Bahari Cakrawala Sebuku - Indonesia
- Thai Mozambique Logistica
- GN Power Mariveles Coal Plant, Philippines
- Baramulti Group, Indonesia
- Formosa Plastics Group - Taiwan
- Bayan Resources Tbk. - Indonesia
- Bharathi Cement Corporation - India
- Grasim Industreis Ltd - India
- Chamber of Mines of South Africa
- Uttam Galva Steels Limited - India
- CNBM International Corporation - China
- Toyota Tsusho Corporation, Japan
- Vizag Seaport Private Limited - India
- Singapore Mercantile Exchange
- Medco Energi Mining Internasional
- Borneo Indobara - Indonesia
- Independent Power Producers Association of India
- Thiess Contractors Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Meralco Power Generation, Philippines
- VISA Power Limited - India
- Madhucon Powers Ltd - India
- Makarim & Taira - Indonesia
- Electricity Authority, New Zealand
- PTC India Limited - India
- Mercuria Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- Latin American Coal - Colombia
- Maheswari Brothers Coal Limited - India
- Ministry of Mines - Canada
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parliament of New Zealand
- Timah Investasi Mineral - Indoneisa
- Coastal Gujarat Power Limited - India
- Georgia Ports Authority, United States
- Standard Chartered Bank - UAE
- Antam Resourcindo - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jaiprakash Power Ventures ltd
- Indogreen Group - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Renaissance Capital - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- London Commodity Brokers - England
- Heidelberg Cement - Germany
- Kobexindo Tractors - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Eastern Coal Council - USA
- Goldman Sachs - Singapore
- IHS Mccloskey Coal Group - USA
- Merrill Lynch Commodities Europe
- Cigading International Bulk Terminal - Indonesia
- Xindia Steels Limited - India
- Cement Manufacturers Association - India
- Commonwealth Bank - Australia
- New Zealand Coal & Carbon
- Kohat Cement Company Ltd. - Pakistan
- Essar Steel Hazira Ltd - India
- The University of Queensland
- Savvy Resources Ltd - HongKong
- Kideco Jaya Agung - Indonesia
- Orica Australia Pty. Ltd.
- ICICI Bank Limited - India
- Parry Sugars Refinery, India
- Energy Link Ltd, New Zealand
- Australian Commodity Traders Exchange
- Globalindo Alam Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Electricity Generating Authority of Thailand
- Semirara Mining Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petron Corporation, Philippines
- India Bulls Power Limited - India
- Straits Asia Resources Limited - Singapore
- Mercator Lines Limited - India
- Intertek Mineral Services - Indonesia
- Sakthi Sugars Limited - India
- Videocon Industries ltd - India
- Semirara Mining and Power Corporation, Philippines
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