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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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Saturday, 11 September 21
RECORD CHINESE COAL FUTURES SIGNAL NEED TO BOOST OUTPUT - REUTERS
China’s coal prices have climbed to a record high, signaling the need for more production in the short term, even as the government tries to ...
Saturday, 11 September 21
IN 2022, EIA EXPECTS U.S. COAL PRODUCTION TO INCREASE BY 47 MMST TO 648 MMST
U.S. Coal production accordng to EIA's forecast, totals 601 million short tons (MMst) in 2021, 66 MMst more than in 2020, EIA's Short-Term ...
Wednesday, 08 September 21
FITCH RATINGS RAISES THERMAL COAL PRICE ASSUMPTIONS ON TIGHT SUPPLY
Fitch Ratings has increased all its Qinhuangdao 5,500kcal/kg price assumptions and short- and medium-term Newcastle 6,000kcal/kg price assumptions ...
Wednesday, 08 September 21
COAL IS STILL KING; INDONESIAN COAL PRICE REFERENCE ABOVE $150 FOR FIRST TIME IN HISTORY
COALspot.com: The Indonesian Coal Price Reference rose dramatically from US$ 127.05 in February 2011, to a peak of US$ 150.03 in September 2021, be ...
Wednesday, 08 September 21
MARKET INSIGHT - INTERMODAL
Last August was extremely hot in the dry bulk market with rates rising at levels that we have years to witness. The dry bulk index exceeded the 4,0 ...
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- Gujarat Mineral Development Corp Ltd - India
- Orica Australia Pty. Ltd.
- London Commodity Brokers - England
- Videocon Industries ltd - India
- Merrill Lynch Commodities Europe
- Wood Mackenzie - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Trasteel International SA, Italy
- Parliament of New Zealand
- Edison Trading Spa - Italy
- Eastern Coal Council - USA
- Iligan Light & Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Indonesian Coal Mining Association
- Makarim & Taira - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Xindia Steels Limited - India
- Bhoruka Overseas - Indonesia
- Deloitte Consulting - India
- Bangladesh Power Developement Board
- GAC Shipping (India) Pvt Ltd
- Romanian Commodities Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Commodity Traders Exchange
- Pendopo Energi Batubara - Indonesia
- Commonwealth Bank - Australia
- Australian Coal Association
- Interocean Group of Companies - India
- Star Paper Mills Limited - India
- Sical Logistics Limited - India
- Cement Manufacturers Association - India
- IEA Clean Coal Centre - UK
- Maharashtra Electricity Regulatory Commission - India
- Aditya Birla Group - India
- Chettinad Cement Corporation Ltd - India
- Kideco Jaya Agung - Indonesia
- Goldman Sachs - Singapore
- Bharathi Cement Corporation - India
- Central Electricity Authority - India
- Parry Sugars Refinery, India
- Rashtriya Ispat Nigam Limited - India
- Kaltim Prima Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- Ministry of Transport, Egypt
- Ind-Barath Power Infra Limited - India
- Economic Council, Georgia
- Antam Resourcindo - Indonesia
- LBH Netherlands Bv - Netherlands
- SMG Consultants - Indonesia
- Medco Energi Mining Internasional
- Minerals Council of Australia
- Barasentosa Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Sindya Power Generating Company Private Ltd
- Indika Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Neyveli Lignite Corporation Ltd, - India
- European Bulk Services B.V. - Netherlands
- CIMB Investment Bank - Malaysia
- Standard Chartered Bank - UAE
- ICICI Bank Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Electricity Generating Authority of Thailand
- Bukit Baiduri Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Jorong Barutama Greston.PT - Indonesia
- India Bulls Power Limited - India
- Kobexindo Tractors - Indoneisa
- Latin American Coal - Colombia
- International Coal Ventures Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- SMC Global Power, Philippines
- Timah Investasi Mineral - Indoneisa
- Bhatia International Limited - India
- The Treasury - Australian Government
- Ceylon Electricity Board - Sri Lanka
- Jaiprakash Power Ventures ltd
- Tamil Nadu electricity Board
- Uttam Galva Steels Limited - India
- Anglo American - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- MS Steel International - UAE
- Chamber of Mines of South Africa
- Ambuja Cements Ltd - India
- Sojitz Corporation - Japan
- Essar Steel Hazira Ltd - India
- Baramulti Group, Indonesia
- Vedanta Resources Plc - India
- Metalloyd Limited - United Kingdom
- The University of Queensland
- Electricity Authority, New Zealand
- Georgia Ports Authority, United States
- Eastern Energy - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Vizag Seaport Private Limited - India
- Wilmar Investment Holdings
- Bhushan Steel Limited - India
- Agrawal Coal Company - India
- Coal and Oil Company - UAE
- Energy Development Corp, Philippines
- Attock Cement Pakistan Limited
- Indogreen Group - Indonesia
- Intertek Mineral Services - Indonesia
- Grasim Industreis Ltd - India
- Price Waterhouse Coopers - Russia
- Petrochimia International Co. Ltd.- Taiwan
- Directorate General of MIneral and Coal - Indonesia
- Indian Oil Corporation Limited
- Renaissance Capital - South Africa
- Gujarat Sidhee Cement - India
- Pipit Mutiara Jaya. PT, Indonesia
- OPG Power Generation Pvt Ltd - India
- Marubeni Corporation - India
- Jindal Steel & Power Ltd - India
- Siam City Cement - Thailand
- Tata Chemicals Ltd - India
- Mintek Dendrill Indonesia
- Energy Link Ltd, New Zealand
- CNBM International Corporation - China
- ASAPP Information Group - India
- Billiton Holdings Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Malabar Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Bukit Makmur.PT - Indonesia
- Posco Energy - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Coalindo Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Energy Exchange, India
- PowerSource Philippines DevCo
- Global Coal Blending Company Limited - Australia
- Thiess Contractors Indonesia
- The State Trading Corporation of India Ltd
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Carbofer General Trading SA - India
- Krishnapatnam Port Company Ltd. - India
- Salva Resources Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Mercator Lines Limited - India
- Formosa Plastics Group - Taiwan
- Altura Mining Limited, Indonesia
- Central Java Power - Indonesia
- McConnell Dowell - Australia
- Ministry of Mines - Canada
- Petron Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Heidelberg Cement - Germany
- Semirara Mining and Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Binh Thuan Hamico - Vietnam
- Semirara Mining Corp, Philippines
- Aboitiz Power Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Kepco SPC Power Corporation, Philippines
- Thai Mozambique Logistica
- Global Business Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Straits Asia Resources Limited - Singapore
- Toyota Tsusho Corporation, Japan
- PTC India Limited - India
- Mercuria Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Samtan Co., Ltd - South Korea
- Borneo Indobara - Indonesia
- Kartika Selabumi Mining - Indonesia
- New Zealand Coal & Carbon
- Dalmia Cement Bharat India
- Manunggal Multi Energi - Indonesia
- Rio Tinto Coal - Australia
- Alfred C Toepfer International GmbH - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- San Jose City I Power Corp, Philippines
- Banpu Public Company Limited - Thailand
- Orica Mining Services - Indonesia
- GVK Power & Infra Limited - India
- TeaM Sual Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- GMR Energy Limited - India
- Meralco Power Generation, Philippines
- Therma Luzon, Inc, Philippines
- Sakthi Sugars Limited - India
- Port Waratah Coal Services - Australia
- Independent Power Producers Association of India
- Riau Bara Harum - Indonesia
- SN Aboitiz Power Inc, Philippines
- VISA Power Limited - India
- Madhucon Powers Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Finance - Indonesia
- Oldendorff Carriers - Singapore
- Simpson Spence & Young - Indonesia
- IHS Mccloskey Coal Group - USA
- Larsen & Toubro Limited - India
- Directorate Of Revenue Intelligence - India
- Cigading International Bulk Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Power Finance Corporation Ltd., India
- White Energy Company Limited
- Planning Commission, India
- Kalimantan Lumbung Energi - Indonesia
- Africa Commodities Group - South Africa
- Sree Jayajothi Cements Limited - India
- PNOC Exploration Corporation - Philippines
- Singapore Mercantile Exchange
- Indo Tambangraya Megah - Indonesia
- Mjunction Services Limited - India
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