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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, 25 November 21
SE ASIA POWER DEMAND TO RISE AS STATE SUPPORT MITIGATES COVID-19 IMPACT - FITCH RATINGS
Electricity demand in south-east Asia is likely to increase in 2021, following slow growth or contraction in 2020, thanks to state support that has ...
Thursday, 25 November 21
FITCH RATINGS INCREASES MOST GLOBAL METALS AND MINING PRICE ASSUMPTIONS - FITCH RATINGS
Fitch Ratings has increased most metals and mining price assumptions, particularly those that benefit from increased longer-term demand due to glob ...
Thursday, 25 November 21
CHINA'S COAL PRICE DROPS IN MID-NOVEMBER AMID GOVERNMENT’S SWEEPING MEASURES - GLOBAL TIMES
China’s coal prices have dropped significantly in mid-November compared with the beginning of the month, with the price of coking coal and co ...
Wednesday, 24 November 21
MARKET INSIGHT - INTERMODAL
Inflation is the word that has dominated the meetings of foreign leaders and finance ministers in recent weeks, as rising energy costs, supply chai ...
Wednesday, 24 November 21
WHY THIS MINING ANALYST IS UPBEAT ON THE IRON ORE PRICE FORECAST - MOTLEY FOOL
In many ways, 2021 can be called the year of the iron ore price. Much of the talk of the ASX town this year has revolved around this key economic m ...
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- Gujarat Mineral Development Corp Ltd - India
- Antam Resourcindo - Indonesia
- Formosa Plastics Group - Taiwan
- Sical Logistics Limited - India
- Essar Steel Hazira Ltd - India
- Mintek Dendrill Indonesia
- Simpson Spence & Young - Indonesia
- Eastern Energy - Thailand
- Riau Bara Harum - Indonesia
- Manunggal Multi Energi - Indonesia
- Tamil Nadu electricity Board
- Wilmar Investment Holdings
- Salva Resources Pvt Ltd - India
- Petron Corporation, Philippines
- Chamber of Mines of South Africa
- Banpu Public Company Limited - Thailand
- Port Waratah Coal Services - Australia
- Bulk Trading Sa - Switzerland
- Sakthi Sugars Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Indogreen Group - Indonesia
- Deloitte Consulting - India
- Kepco SPC Power Corporation, Philippines
- Rio Tinto Coal - Australia
- SMG Consultants - Indonesia
- European Bulk Services B.V. - Netherlands
- Meralco Power Generation, Philippines
- Bhushan Steel Limited - India
- GVK Power & Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Indian Oil Corporation Limited
- Globalindo Alam Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Rashtriya Ispat Nigam Limited - India
- TeaM Sual Corporation - Philippines
- McConnell Dowell - Australia
- Global Coal Blending Company Limited - Australia
- Krishnapatnam Port Company Ltd. - India
- Power Finance Corporation Ltd., India
- Sindya Power Generating Company Private Ltd
- Semirara Mining and Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Mercuria Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Vedanta Resources Plc - India
- Australian Coal Association
- Kobexindo Tractors - Indoneisa
- Agrawal Coal Company - India
- IEA Clean Coal Centre - UK
- OPG Power Generation Pvt Ltd - India
- Indian Energy Exchange, India
- Semirara Mining Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Bangladesh Power Developement Board
- Economic Council, Georgia
- India Bulls Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Parry Sugars Refinery, India
- New Zealand Coal & Carbon
- Heidelberg Cement - Germany
- Gujarat Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- Ministry of Mines - Canada
- Bhatia International Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- GMR Energy Limited - India
- Directorate Of Revenue Intelligence - India
- GAC Shipping (India) Pvt Ltd
- Alfred C Toepfer International GmbH - Germany
- Ministry of Finance - Indonesia
- ICICI Bank Limited - India
- VISA Power Limited - India
- Larsen & Toubro Limited - India
- Independent Power Producers Association of India
- Renaissance Capital - South Africa
- Jaiprakash Power Ventures ltd
- Baramulti Group, Indonesia
- Sojitz Corporation - Japan
- Coal and Oil Company - UAE
- Merrill Lynch Commodities Europe
- Romanian Commodities Exchange
- PetroVietnam Power Coal Import and Supply Company
- Medco Energi Mining Internasional
- Grasim Industreis Ltd - India
- Pendopo Energi Batubara - Indonesia
- Indika Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thiess Contractors Indonesia
- AsiaOL BioFuels Corp., Philippines
- Therma Luzon, Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Oldendorff Carriers - Singapore
- Bukit Baiduri Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Link Ltd, New Zealand
- The University of Queensland
- Bharathi Cement Corporation - India
- Singapore Mercantile Exchange
- Thai Mozambique Logistica
- Sree Jayajothi Cements Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jindal Steel & Power Ltd - India
- Binh Thuan Hamico - Vietnam
- Ministry of Transport, Egypt
- Malabar Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Indo Tambangraya Megah - Indonesia
- ASAPP Information Group - India
- Borneo Indobara - Indonesia
- PNOC Exploration Corporation - Philippines
- Interocean Group of Companies - India
- The State Trading Corporation of India Ltd
- Karbindo Abesyapradhi - Indoneisa
- Barasentosa Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- San Jose City I Power Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Lanco Infratech Ltd - India
- Indonesian Coal Mining Association
- Standard Chartered Bank - UAE
- Coalindo Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Aditya Birla Group - India
- Posco Energy - South Korea
- Electricity Authority, New Zealand
- White Energy Company Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Dalmia Cement Bharat India
- Marubeni Corporation - India
- SN Aboitiz Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- Siam City Cement PLC, Thailand
- Global Business Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Intertek Mineral Services - Indonesia
- Siam City Cement - Thailand
- Uttam Galva Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Electricity Generating Authority of Thailand
- PowerSource Philippines DevCo
- Altura Mining Limited, Indonesia
- Sarangani Energy Corporation, Philippines
- CNBM International Corporation - China
- Australian Commodity Traders Exchange
- Madhucon Powers Ltd - India
- Wood Mackenzie - Singapore
- International Coal Ventures Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- The Treasury - Australian Government
- Chettinad Cement Corporation Ltd - India
- Parliament of New Zealand
- Leighton Contractors Pty Ltd - Australia
- Mjunction Services Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Eastern Coal Council - USA
- Pipit Mutiara Jaya. PT, Indonesia
- Tata Chemicals Ltd - India
- Minerals Council of Australia
- Georgia Ports Authority, United States
- Kumho Petrochemical, South Korea
- Orica Australia Pty. Ltd.
- Attock Cement Pakistan Limited
- Commonwealth Bank - Australia
- Planning Commission, India
- Africa Commodities Group - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Sidhee Cement - India
- Anglo American - United Kingdom
- Straits Asia Resources Limited - Singapore
- Bukit Makmur.PT - Indonesia
- Central Java Power - Indonesia
- Central Electricity Authority - India
- Latin American Coal - Colombia
- Ind-Barath Power Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- SMC Global Power, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- GN Power Mariveles Coal Plant, Philippines
- Edison Trading Spa - Italy
- PTC India Limited - India
- Xindia Steels Limited - India
- Samtan Co., Ltd - South Korea
- Makarim & Taira - Indonesia
- Energy Development Corp, Philippines
- MS Steel International - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Global Green Power PLC Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- London Commodity Brokers - England
- Trasteel International SA, Italy
- Star Paper Mills Limited - India
- Cement Manufacturers Association - India
- Iligan Light & Power Inc, Philippines
- Carbofer General Trading SA - India
- Karaikal Port Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Orica Mining Services - Indonesia
- Aboitiz Power Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Goldman Sachs - Singapore
- Maheswari Brothers Coal Limited - India
- Bhoruka Overseas - Indonesia
- Videocon Industries ltd - India
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