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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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Wednesday, 03 November 21
CHINA TO LAUNCH NEW DATA MONITORING SYSTEM, TARGETING COAL MARKET SPECULATION, HOARDING - GLOBAL TIMES
China’s top economic planner announced on Sunday a new data system for supervising the implementation of medium- and long-term contracts of c ...
Wednesday, 03 November 21
CHINA’S STATE PLANNER SAYS COAL SUPPLY IMPROVING, PRICES STABILISING - REUTERS
China’s coal supply situation has seen significant improvement with joint efforts from coal producers, logistics and downstream users, while ...
Wednesday, 03 November 21
HIGHER COKING COAL PRICES TO PARE PROFITABILITY OF STEELMAKERS IN SECOND HALF OF FY22 - CRISIL RATINGS
The operating margin of primary steelmakers will reduce by a third to 24-26% in the second half of this fiscal versus the first half as input cost ...
Wednesday, 03 November 21
MARKET INSIGHT - INTERMODAL
November is here and soon the all time seasonal favorite “all I want or Christmas is you” by Mariah Carey will be played in radio stati ...
Monday, 01 November 21
COAL PRICES HAVE FURTHER ROOM TO DROP: TOP ECONOMIC PLANNER - GLOBAL TIMES
China’s top economic planner said coal prices have further room to drop on Friday, as the most traded coal futures dropped to below 1,000 yua ...
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- Kumho Petrochemical, South Korea
- Semirara Mining Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Cigading International Bulk Terminal - Indonesia
- Georgia Ports Authority, United States
- Ind-Barath Power Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Kartika Selabumi Mining - Indonesia
- Jaiprakash Power Ventures ltd
- Siam City Cement PLC, Thailand
- Thiess Contractors Indonesia
- London Commodity Brokers - England
- Rashtriya Ispat Nigam Limited - India
- ASAPP Information Group - India
- Siam City Cement - Thailand
- The Treasury - Australian Government
- Jorong Barutama Greston.PT - Indonesia
- Australian Coal Association
- Deloitte Consulting - India
- Indo Tambangraya Megah - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Singapore Mercantile Exchange
- Merrill Lynch Commodities Europe
- ICICI Bank Limited - India
- Eastern Energy - Thailand
- Antam Resourcindo - Indonesia
- CNBM International Corporation - China
- Timah Investasi Mineral - Indoneisa
- Bangladesh Power Developement Board
- Eastern Coal Council - USA
- Manunggal Multi Energi - Indonesia
- Madhucon Powers Ltd - India
- Essar Steel Hazira Ltd - India
- Edison Trading Spa - Italy
- Commonwealth Bank - Australia
- Sree Jayajothi Cements Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- The University of Queensland
- Banpu Public Company Limited - Thailand
- Samtan Co., Ltd - South Korea
- Attock Cement Pakistan Limited
- Planning Commission, India
- Agrawal Coal Company - India
- Straits Asia Resources Limited - Singapore
- Australian Commodity Traders Exchange
- South Luzon Thermal Energy Corporation
- Ministry of Transport, Egypt
- Ministry of Finance - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Carbofer General Trading SA - India
- Videocon Industries ltd - India
- Trasteel International SA, Italy
- Borneo Indobara - Indonesia
- European Bulk Services B.V. - Netherlands
- Central Electricity Authority - India
- IEA Clean Coal Centre - UK
- Sical Logistics Limited - India
- Global Green Power PLC Corporation, Philippines
- Grasim Industreis Ltd - India
- PTC India Limited - India
- Coastal Gujarat Power Limited - India
- Savvy Resources Ltd - HongKong
- Sindya Power Generating Company Private Ltd
- Gujarat Sidhee Cement - India
- Iligan Light & Power Inc, Philippines
- Heidelberg Cement - Germany
- Meralco Power Generation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- Coalindo Energy - Indonesia
- Makarim & Taira - Indonesia
- LBH Netherlands Bv - Netherlands
- Bhoruka Overseas - Indonesia
- SMG Consultants - Indonesia
- New Zealand Coal & Carbon
- Sarangani Energy Corporation, Philippines
- Mintek Dendrill Indonesia
- Mercuria Energy - Indonesia
- Orica Australia Pty. Ltd.
- Standard Chartered Bank - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aditya Birla Group - India
- OPG Power Generation Pvt Ltd - India
- Goldman Sachs - Singapore
- Miang Besar Coal Terminal - Indonesia
- Indika Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Tata Chemicals Ltd - India
- Coal and Oil Company - UAE
- White Energy Company Limited
- Energy Development Corp, Philippines
- Bulk Trading Sa - Switzerland
- Leighton Contractors Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- PNOC Exploration Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Port Waratah Coal Services - Australia
- Rio Tinto Coal - Australia
- Baramulti Group, Indonesia
- Kaltim Prima Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Simpson Spence & Young - Indonesia
- Global Coal Blending Company Limited - Australia
- Indogreen Group - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Star Paper Mills Limited - India
- Africa Commodities Group - South Africa
- Larsen & Toubro Limited - India
- Interocean Group of Companies - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Renaissance Capital - South Africa
- Uttam Galva Steels Limited - India
- Independent Power Producers Association of India
- Dalmia Cement Bharat India
- Sojitz Corporation - Japan
- India Bulls Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- VISA Power Limited - India
- MS Steel International - UAE
- Kepco SPC Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- SMC Global Power, Philippines
- CIMB Investment Bank - Malaysia
- SN Aboitiz Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- GAC Shipping (India) Pvt Ltd
- GMR Energy Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Mercator Lines Limited - India
- AsiaOL BioFuels Corp., Philippines
- Directorate Of Revenue Intelligence - India
- Formosa Plastics Group - Taiwan
- Xindia Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- San Jose City I Power Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Maheswari Brothers Coal Limited - India
- Krishnapatnam Port Company Ltd. - India
- PowerSource Philippines DevCo
- Posco Energy - South Korea
- Metalloyd Limited - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- GVK Power & Infra Limited - India
- Lanco Infratech Ltd - India
- Wilmar Investment Holdings
- Anglo American - United Kingdom
- The State Trading Corporation of India Ltd
- Ambuja Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- Indian Oil Corporation Limited
- Bukit Makmur.PT - Indonesia
- Romanian Commodities Exchange
- Thai Mozambique Logistica
- Economic Council, Georgia
- McConnell Dowell - Australia
- Minerals Council of Australia
- Altura Mining Limited, Indonesia
- Ministry of Mines - Canada
- Kapuas Tunggal Persada - Indonesia
- Aboitiz Power Corporation - Philippines
- Mjunction Services Limited - India
- Tamil Nadu electricity Board
- Kideco Jaya Agung - Indonesia
- Riau Bara Harum - Indonesia
- Sakthi Sugars Limited - India
- Wood Mackenzie - Singapore
- Marubeni Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vizag Seaport Private Limited - India
- Energy Link Ltd, New Zealand
- Latin American Coal - Colombia
- Central Java Power - Indonesia
- Chettinad Cement Corporation Ltd - India
- Chamber of Mines of South Africa
- Kalimantan Lumbung Energi - Indonesia
- Global Business Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Electricity Generating Authority of Thailand
- GN Power Mariveles Coal Plant, Philippines
- Salva Resources Pvt Ltd - India
- Bharathi Cement Corporation - India
- Oldendorff Carriers - Singapore
- Intertek Mineral Services - Indonesia
- Toyota Tsusho Corporation, Japan
- Parliament of New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Medco Energi Mining Internasional
- Indian Energy Exchange, India
- Petron Corporation, Philippines
- Bhushan Steel Limited - India
- Kobexindo Tractors - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Orica Mining Services - Indonesia
- Power Finance Corporation Ltd., India
- PetroVietnam Power Coal Import and Supply Company
- Asmin Koalindo Tuhup - Indonesia
- Price Waterhouse Coopers - Russia
- Parry Sugars Refinery, India
- Malabar Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Authority, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Vedanta Resources Plc - India
- Indonesian Coal Mining Association
- Alfred C Toepfer International GmbH - Germany
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