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Friday, 23 September 22
EUROPEAN STEEL BUYERS SEEK DIRECTION IN VOLATILE MARKET - MEPS INTERNATIONAL
Demand for steel is slow to recover, after the summer break. Mill production costs continue to increase. Steel purchasers are uncertain about the future direction of the market.
European steel buyers returned cautiously to the market, as the traditional summer break extended into early September. Inventory levels remain relatively high, for current demand. Sensing that the bottom of the current cycle had been reached, however, some purchasers placed orders for small quantities, to reduce their average stock value.
European steel prices continued to decline, last month. In late August and early September, the mills started to announce increases, in line with rising costs, across the carbon steel product range. These efforts were against the background of spiralling international energy values.
Major steel manufacturers led the way. Their efforts, initially, were undermined by certain producers seeking to fill their order books. Large, proposed increases were accompanied by a willingness to negotiate, or to extend the validity of previous prices, to their regular customers who had just returned from holiday. This eroded buyers’ confidence in the strength of such moves.
As order books weaken, steel mills are aligning production to apparent demand. Capacity cuts have been implemented, although perhaps not soon enough. Several blast furnaces have been taken offline, for extended periods. Rerollers are restricting production to night-time and weekend working, to control electricity consumption. As a consequence, delivery lead times are once again extending, rather than contracting.
Industry, as a whole, is looking to the authorities to address problems with energy supply and costs. The EU has announced measures to cap energy prices, partly funded by additional taxes on excess profits of energy providers. This should protect private consumers, to some extent. Policies show little detail for energy-intensive manufacturers. Some individual states have mandated a reduction in electricity usage.
In the UK, political decisions are delayed during the period of mourning for Her Late Majesty Queen Elizabeth II. A cap on domestic electricity costs has been announced. Further proposals, for industrial users, are reportedly in preparation.
The possibility of steelmakers implementing energy-related surcharges is again a topic of interest. Most market observers consider such a move to be impracticable for commodity grade steel. It is also extremely doubtful that producers who propose such a move would be willing to open their energy usage and supply contracts to the scrutiny such a clause would require.
Elevated energy costs are not isolated to primary steel producers. Oil, gas and electricity are used throughout the supply chain, resulting in incremental charges at each stage. Finally, it is the individual consumer who pays, or chooses not to. Escalating household energy costs and the subsequent drain on disposable income lead to reduced downstream steel demand. High inflation rates also restrict private expenditure.
Source: MEPS International Ltd
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Wednesday, 31 January 24
CHINA'S INNER MONGOLIA COAL OUTPUT HIT 1.21B TONS IN 2023 - XINHUA
North China’s Inner Mongolia autonomous region churned out 1.21 billion tons of coal in 2023 as it strives to guarantee the country’s e ...
Wednesday, 31 January 24
GAS EXPORTS COST U.S. CONSUMERS MORE THAN $100 BILLION OVER 16-MONTH PERIOD - IEEFA
Limited Demand Growth Could Dampen the Dry Bulk Market in the Coming Months BIMCOStarting in late 2021—before its invasion of Ukraine—R ...
Tuesday, 30 January 24
LIMITED DEMAND GROWTH COULD DAMPEN THE DRY BULK MARKET IN THE COMING MONTHS - BIMCO
Demand
In our base scenario, we expect cargo demand to grow by 0-1% in 2024 and 0.5-1.5% in 2025. This is a 0.5 percentage point reduction for ...
Friday, 26 January 24
RED SEA DIVERSIONS ADD NEARLY A MILLION DOLLARS PER VOYAGE TO SHIPPING COSTS WHILE DOUBLING TRANSIT TIME - LSEG
The incremental costs of diverting a tanker from Asia to NW Europe via the Cape of Good Hope is accounting for an extra $932,905 USD per voyage whi ...
Friday, 26 January 24
HARD COAL GUARDIAN ANGEL OF THE ENERGY SUPPLY - GERMANY COAL IMPORTERS ASSOCIATION
- No security of supply without hard coal
- The Substitute Power Plant Provision Act (EKBG) must be extended
- Higher grid fees due to the ...
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- Ministry of Finance - Indonesia
- Jaiprakash Power Ventures ltd
- Asmin Koalindo Tuhup - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Therma Luzon, Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Economic Council, Georgia
- Central Electricity Authority - India
- Kepco SPC Power Corporation, Philippines
- Romanian Commodities Exchange
- Baramulti Group, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Price Waterhouse Coopers - Russia
- Bulk Trading Sa - Switzerland
- Directorate Of Revenue Intelligence - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petron Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Heidelberg Cement - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indika Energy - Indonesia
- Aditya Birla Group - India
- India Bulls Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Georgia Ports Authority, United States
- Globalindo Alam Lestari - Indonesia
- Agrawal Coal Company - India
- Trasteel International SA, Italy
- Edison Trading Spa - Italy
- Coastal Gujarat Power Limited - India
- CNBM International Corporation - China
- Electricity Authority, New Zealand
- Ceylon Electricity Board - Sri Lanka
- International Coal Ventures Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Siam City Cement - Thailand
- Interocean Group of Companies - India
- Sinarmas Energy and Mining - Indonesia
- Formosa Plastics Group - Taiwan
- Parry Sugars Refinery, India
- Bukit Baiduri Energy - Indonesia
- McConnell Dowell - Australia
- OPG Power Generation Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chettinad Cement Corporation Ltd - India
- Deloitte Consulting - India
- PowerSource Philippines DevCo
- Dalmia Cement Bharat India
- Barasentosa Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Borneo Indobara - Indonesia
- Port Waratah Coal Services - Australia
- Electricity Generating Authority of Thailand
- Toyota Tsusho Corporation, Japan
- Anglo American - United Kingdom
- The Treasury - Australian Government
- Posco Energy - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Bangladesh Power Developement Board
- Thai Mozambique Logistica
- Kumho Petrochemical, South Korea
- Indian Energy Exchange, India
- Vijayanagar Sugar Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Mintek Dendrill Indonesia
- Gujarat Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Merrill Lynch Commodities Europe
- ICICI Bank Limited - India
- Altura Mining Limited, Indonesia
- Bharathi Cement Corporation - India
- Indonesian Coal Mining Association
- Cigading International Bulk Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- Indo Tambangraya Megah - Indonesia
- Siam City Cement PLC, Thailand
- Karbindo Abesyapradhi - Indoneisa
- Global Business Power Corporation, Philippines
- Planning Commission, India
- Meralco Power Generation, Philippines
- ASAPP Information Group - India
- Gujarat Sidhee Cement - India
- Antam Resourcindo - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Attock Cement Pakistan Limited
- SN Aboitiz Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Renaissance Capital - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- Madhucon Powers Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Bukit Makmur.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Lanco Infratech Ltd - India
- Vedanta Resources Plc - India
- White Energy Company Limited
- IEA Clean Coal Centre - UK
- Kohat Cement Company Ltd. - Pakistan
- Sical Logistics Limited - India
- Kaltim Prima Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Manunggal Multi Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- SMG Consultants - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Kapuas Tunggal Persada - Indonesia
- Ministry of Transport, Egypt
- Malabar Cements Ltd - India
- GVK Power & Infra Limited - India
- Coal and Oil Company - UAE
- Mercator Lines Limited - India
- TeaM Sual Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Cement Manufacturers Association - India
- Tamil Nadu electricity Board
- Uttam Galva Steels Limited - India
- Eastern Coal Council - USA
- San Jose City I Power Corp, Philippines
- Standard Chartered Bank - UAE
- Global Coal Blending Company Limited - Australia
- Savvy Resources Ltd - HongKong
- Central Java Power - Indonesia
- Eastern Energy - Thailand
- Alfred C Toepfer International GmbH - Germany
- Simpson Spence & Young - Indonesia
- Mercuria Energy - Indonesia
- Vizag Seaport Private Limited - India
- Sojitz Corporation - Japan
- Pendopo Energi Batubara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Binh Thuan Hamico - Vietnam
- Energy Link Ltd, New Zealand
- Iligan Light & Power Inc, Philippines
- Bhatia International Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Marubeni Corporation - India
- Meenaskhi Energy Private Limited - India
- Medco Energi Mining Internasional
- Timah Investasi Mineral - Indoneisa
- Australian Coal Association
- Commonwealth Bank - Australia
- Orica Australia Pty. Ltd.
- PTC India Limited - India
- Videocon Industries ltd - India
- Power Finance Corporation Ltd., India
- Parliament of New Zealand
- Makarim & Taira - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- PetroVietnam Power Coal Import and Supply Company
- Kobexindo Tractors - Indoneisa
- Singapore Mercantile Exchange
- Sakthi Sugars Limited - India
- Ambuja Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indogreen Group - Indonesia
- Jindal Steel & Power Ltd - India
- Africa Commodities Group - South Africa
- Chamber of Mines of South Africa
- Xindia Steels Limited - India
- MS Steel International - UAE
- Straits Asia Resources Limited - Singapore
- GN Power Mariveles Coal Plant, Philippines
- IHS Mccloskey Coal Group - USA
- Coalindo Energy - Indonesia
- Salva Resources Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- SMC Global Power, Philippines
- Semirara Mining Corp, Philippines
- Minerals Council of Australia
- New Zealand Coal & Carbon
- PNOC Exploration Corporation - Philippines
- London Commodity Brokers - England
- European Bulk Services B.V. - Netherlands
- Carbofer General Trading SA - India
- The University of Queensland
- Wood Mackenzie - Singapore
- Larsen & Toubro Limited - India
- Krishnapatnam Port Company Ltd. - India
- GMR Energy Limited - India
- Latin American Coal - Colombia
- Rashtriya Ispat Nigam Limited - India
- Bayan Resources Tbk. - Indonesia
- Banpu Public Company Limited - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Star Paper Mills Limited - India
- Global Green Power PLC Corporation, Philippines
- Rio Tinto Coal - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- South Luzon Thermal Energy Corporation
- VISA Power Limited - India
- Australian Commodity Traders Exchange
- Tata Chemicals Ltd - India
- Metalloyd Limited - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Bhushan Steel Limited - India
- Independent Power Producers Association of India
- Essar Steel Hazira Ltd - India
- Bhoruka Overseas - Indonesia
- Karaikal Port Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Energy Development Corp, Philippines
- Grasim Industreis Ltd - India
- CIMB Investment Bank - Malaysia
- Thiess Contractors Indonesia
- Mjunction Services Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Orica Mining Services - Indonesia
- Wilmar Investment Holdings
- Ministry of Mines - Canada
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