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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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Monday, 25 October 21
CHINA VOWS TO SEVERELY PUNISH MARKET VIOLATIONS AMID LOW COAL FUTURES PRICES - GLOBAL TIMES
Domestic coal futures had plunged for three consecutive trading days after the government vowed to crack down on soaring prices, and China’s ...
Monday, 25 October 21
FARMERS MAY JOIN THE COAL COMMODITY MARKET TO REDUCE RISKS - GLOBAL TIMES
A recent trip to by the Global Times to East China’s Shandong Province to get a glimpse of China’s coal supply chain revealed a surpris ...
Monday, 25 October 21
CHINA COAL PRICES MARK WORST WEEK SINCE MAY ON GOVERNMENT INTERVENTION - REUTERS
China’s thermal coal futures plunged on Friday and turned in their worst week in five months, following Beijing’s strongest interventio ...
Friday, 22 October 21
THE BIG PICTURE: ENERGY MARKETS - BREAK WAVE ADVISORS
The shipping markets have been pulled further into wild markets of coal and other energy sources. Given how nebulous this sector is, it’s alw ...
Friday, 22 October 21
CHINA WANTS TO COOL COAL PRICES. SIMILAR MOVES FOR METALS, CRUDE FAILED - REUTERS
China’s latest attempt to lower runaway commodity prices, this time for thermal coal, is likely to follow a familiar pattern of initial succe ...
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- Essar Steel Hazira Ltd - India
- Sree Jayajothi Cements Limited - India
- Larsen & Toubro Limited - India
- Meralco Power Generation, Philippines
- SMG Consultants - Indonesia
- Sarangani Energy Corporation, Philippines
- Mintek Dendrill Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- India Bulls Power Limited - India
- Marubeni Corporation - India
- SN Aboitiz Power Inc, Philippines
- Planning Commission, India
- MS Steel International - UAE
- Directorate Of Revenue Intelligence - India
- Petron Corporation, Philippines
- White Energy Company Limited
- Electricity Generating Authority of Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Link Ltd, New Zealand
- Edison Trading Spa - Italy
- Intertek Mineral Services - Indonesia
- The State Trading Corporation of India Ltd
- Siam City Cement PLC, Thailand
- Borneo Indobara - Indonesia
- Aditya Birla Group - India
- Kumho Petrochemical, South Korea
- Xindia Steels Limited - India
- Samtan Co., Ltd - South Korea
- Agrawal Coal Company - India
- Cement Manufacturers Association - India
- Ceylon Electricity Board - Sri Lanka
- Salva Resources Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jorong Barutama Greston.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Posco Energy - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Parry Sugars Refinery, India
- The Treasury - Australian Government
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Authority, New Zealand
- VISA Power Limited - India
- Deloitte Consulting - India
- Sinarmas Energy and Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Manunggal Multi Energi - Indonesia
- Coal and Oil Company - UAE
- Energy Development Corp, Philippines
- Ministry of Transport, Egypt
- Kideco Jaya Agung - Indonesia
- South Luzon Thermal Energy Corporation
- Straits Asia Resources Limited - Singapore
- GVK Power & Infra Limited - India
- Metalloyd Limited - United Kingdom
- Independent Power Producers Association of India
- Ministry of Mines - Canada
- Chettinad Cement Corporation Ltd - India
- OPG Power Generation Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Mjunction Services Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Kepco SPC Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Formosa Plastics Group - Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- Simpson Spence & Young - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Indian Energy Exchange, India
- Coastal Gujarat Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Anglo American - United Kingdom
- Orica Mining Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- PTC India Limited - India
- Banpu Public Company Limited - Thailand
- New Zealand Coal & Carbon
- AsiaOL BioFuels Corp., Philippines
- Bhushan Steel Limited - India
- PNOC Exploration Corporation - Philippines
- Minerals Council of Australia
- Neyveli Lignite Corporation Ltd, - India
- Bhatia International Limited - India
- Port Waratah Coal Services - Australia
- Australian Commodity Traders Exchange
- Interocean Group of Companies - India
- Malabar Cements Ltd - India
- Goldman Sachs - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kobexindo Tractors - Indoneisa
- Madhucon Powers Ltd - India
- Miang Besar Coal Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Indonesian Coal Mining Association
- Jindal Steel & Power Ltd - India
- Semirara Mining and Power Corporation, Philippines
- ICICI Bank Limited - India
- Medco Energi Mining Internasional
- GMR Energy Limited - India
- Tamil Nadu electricity Board
- Krishnapatnam Port Company Ltd. - India
- Maheswari Brothers Coal Limited - India
- Bangladesh Power Developement Board
- Eastern Coal Council - USA
- Eastern Energy - Thailand
- Coalindo Energy - Indonesia
- Indogreen Group - Indonesia
- Karaikal Port Pvt Ltd - India
- Central Electricity Authority - India
- Globalindo Alam Lestari - Indonesia
- ASAPP Information Group - India
- Bukit Baiduri Energy - Indonesia
- Thiess Contractors Indonesia
- London Commodity Brokers - England
- Timah Investasi Mineral - Indoneisa
- Kaltim Prima Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- Iligan Light & Power Inc, Philippines
- Australian Coal Association
- McConnell Dowell - Australia
- GAC Shipping (India) Pvt Ltd
- Toyota Tsusho Corporation, Japan
- Commonwealth Bank - Australia
- Economic Council, Georgia
- The University of Queensland
- TeaM Sual Corporation - Philippines
- Renaissance Capital - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Riau Bara Harum - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Power Finance Corporation Ltd., India
- Bayan Resources Tbk. - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- Star Paper Mills Limited - India
- Indian Oil Corporation Limited
- Altura Mining Limited, Indonesia
- Attock Cement Pakistan Limited
- Ind-Barath Power Infra Limited - India
- Standard Chartered Bank - UAE
- International Coal Ventures Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Singapore Mercantile Exchange
- Bulk Trading Sa - Switzerland
- Aboitiz Power Corporation - Philippines
- Ministry of Finance - Indonesia
- Georgia Ports Authority, United States
- Global Business Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Chamber of Mines of South Africa
- Bhoruka Overseas - Indonesia
- CIMB Investment Bank - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Lanco Infratech Ltd - India
- Global Coal Blending Company Limited - Australia
- Global Green Power PLC Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Baramulti Group, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- San Jose City I Power Corp, Philippines
- Siam City Cement - Thailand
- Thai Mozambique Logistica
- LBH Netherlands Bv - Netherlands
- IHS Mccloskey Coal Group - USA
- Savvy Resources Ltd - HongKong
- IEA Clean Coal Centre - UK
- Bharathi Cement Corporation - India
- Central Java Power - Indonesia
- Merrill Lynch Commodities Europe
- Meenaskhi Energy Private Limited - India
- Vizag Seaport Private Limited - India
- Binh Thuan Hamico - Vietnam
- CNBM International Corporation - China
- Indika Energy - Indonesia
- SMC Global Power, Philippines
- Latin American Coal - Colombia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercator Lines Limited - India
- Sindya Power Generating Company Private Ltd
- Antam Resourcindo - Indonesia
- Africa Commodities Group - South Africa
- Mercuria Energy - Indonesia
- Trasteel International SA, Italy
- Romanian Commodities Exchange
- Wilmar Investment Holdings
- Uttam Galva Steels Limited - India
- Heidelberg Cement - Germany
- Directorate General of MIneral and Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Sakthi Sugars Limited - India
- Ambuja Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Carbofer General Trading SA - India
- Grasim Industreis Ltd - India
- Vedanta Resources Plc - India
- Price Waterhouse Coopers - Russia
- PowerSource Philippines DevCo
- Sojitz Corporation - Japan
- Sical Logistics Limited - India
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining Corp, Philippines
- Parliament of New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Dalmia Cement Bharat India
- Tata Chemicals Ltd - India
- Makarim & Taira - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Videocon Industries ltd - India
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