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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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Thursday, 25 January 24
THE RED SEA ESCALATION IMPLICATIONS ON GLOBAL SEABORNE TRADE - MARIA BERTZELETOU
In recent days, discussions have intensified about the potential impact on the seaborne trade and ton-miles due to the evolving dynamics of market ...
Thursday, 25 January 24
RED SEA SHIPPING DISRUPTIONS KEEP GEOPOLITICAL PREMIUM FOR COMMODITIES - FITCH RATINGS
Shipping disruptions and re-routing away from the Red Sea will maintain the geopolitical premium in the main commodity markets, including for oil a ...
Friday, 19 January 24
INDONESIA TARGETS 710 MLN METRIC TONS COAL OUTPUT IN 2024 AFTER RECORD 2023 - REUTERS
Indonesia, a major thermal coal exporter, aims to produce 710 million metric tons of coal in 2024, its mining minister said on Monday, after postin ...
Friday, 19 January 24
DRUMMOND COLOMBIA COAL OUTPUT ROSE 7.1% IN 2023 - REUTERS
Coal production from miner Drummond’s Colombia operations rose 7.1% in 2023 to 29.5 million metric tons, while exports declined by 2.6% to 27 ...
Friday, 19 January 24
CHINA'S 2023 COAL OUTPUT HITS RECORD HIGH - REUTERS
China’s coal output reached a record high in 2023, data from the statistics bureau showed on Wednesday, amid an ongoing focus on energy secur ...
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- Ceylon Electricity Board - Sri Lanka
- Savvy Resources Ltd - HongKong
- Global Business Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Banpu Public Company Limited - Thailand
- Therma Luzon, Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Central Electricity Authority - India
- International Coal Ventures Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Barasentosa Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Essar Steel Hazira Ltd - India
- Indian Oil Corporation Limited
- Merrill Lynch Commodities Europe
- Port Waratah Coal Services - Australia
- Heidelberg Cement - Germany
- Global Green Power PLC Corporation, Philippines
- Deloitte Consulting - India
- Gujarat Sidhee Cement - India
- The Treasury - Australian Government
- Vizag Seaport Private Limited - India
- Power Finance Corporation Ltd., India
- Salva Resources Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Bayan Resources Tbk. - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Carbofer General Trading SA - India
- Romanian Commodities Exchange
- Kobexindo Tractors - Indoneisa
- Australian Commodity Traders Exchange
- Grasim Industreis Ltd - India
- GMR Energy Limited - India
- Aboitiz Power Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Oldendorff Carriers - Singapore
- Indian Energy Exchange, India
- Indonesian Coal Mining Association
- Medco Energi Mining Internasional
- Edison Trading Spa - Italy
- TNB Fuel Sdn Bhd - Malaysia
- Central Java Power - Indonesia
- GVK Power & Infra Limited - India
- Orica Mining Services - Indonesia
- Jaiprakash Power Ventures ltd
- Borneo Indobara - Indonesia
- SMG Consultants - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Transport, Egypt
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Binh Thuan Hamico - Vietnam
- Ministry of Mines - Canada
- Ambuja Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Cement Manufacturers Association - India
- The University of Queensland
- Siam City Cement PLC, Thailand
- Vedanta Resources Plc - India
- LBH Netherlands Bv - Netherlands
- Mercuria Energy - Indonesia
- Eastern Energy - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Standard Chartered Bank - UAE
- Jindal Steel & Power Ltd - India
- Singapore Mercantile Exchange
- Chettinad Cement Corporation Ltd - India
- Parry Sugars Refinery, India
- Mintek Dendrill Indonesia
- Semirara Mining and Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Bharathi Cement Corporation - India
- The State Trading Corporation of India Ltd
- Sical Logistics Limited - India
- Malabar Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Minerals Council of Australia
- ICICI Bank Limited - India
- Bhushan Steel Limited - India
- Antam Resourcindo - Indonesia
- McConnell Dowell - Australia
- Aditya Birla Group - India
- Kapuas Tunggal Persada - Indonesia
- Kartika Selabumi Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Indika Energy - Indonesia
- Latin American Coal - Colombia
- Georgia Ports Authority, United States
- Bangladesh Power Developement Board
- Lanco Infratech Ltd - India
- Straits Asia Resources Limited - Singapore
- Orica Australia Pty. Ltd.
- Baramulti Group, Indonesia
- London Commodity Brokers - England
- Ind-Barath Power Infra Limited - India
- Economic Council, Georgia
- Neyveli Lignite Corporation Ltd, - India
- MS Steel International - UAE
- PNOC Exploration Corporation - Philippines
- Star Paper Mills Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Miang Besar Coal Terminal - Indonesia
- White Energy Company Limited
- Altura Mining Limited, Indonesia
- Meenaskhi Energy Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Larsen & Toubro Limited - India
- Xindia Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- IHS Mccloskey Coal Group - USA
- Energy Development Corp, Philippines
- Electricity Generating Authority of Thailand
- Kohat Cement Company Ltd. - Pakistan
- SMC Global Power, Philippines
- Anglo American - United Kingdom
- Formosa Plastics Group - Taiwan
- Karaikal Port Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- PowerSource Philippines DevCo
- Cigading International Bulk Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Renaissance Capital - South Africa
- PTC India Limited - India
- Sakthi Sugars Limited - India
- OPG Power Generation Pvt Ltd - India
- Thiess Contractors Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- India Bulls Power Limited - India
- Metalloyd Limited - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate Of Revenue Intelligence - India
- Posco Energy - South Korea
- Wood Mackenzie - Singapore
- Indogreen Group - Indonesia
- Global Coal Blending Company Limited - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Madhucon Powers Ltd - India
- Iligan Light & Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- Thai Mozambique Logistica
- Chamber of Mines of South Africa
- Intertek Mineral Services - Indonesia
- Goldman Sachs - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parliament of New Zealand
- Sree Jayajothi Cements Limited - India
- SN Aboitiz Power Inc, Philippines
- Agrawal Coal Company - India
- Gujarat Mineral Development Corp Ltd - India
- Marubeni Corporation - India
- Riau Bara Harum - Indonesia
- Tamil Nadu electricity Board
- Samtan Co., Ltd - South Korea
- Interocean Group of Companies - India
- Eastern Coal Council - USA
- Tata Chemicals Ltd - India
- Maheswari Brothers Coal Limited - India
- Planning Commission, India
- Kepco SPC Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Energy Link Ltd, New Zealand
- ASAPP Information Group - India
- Africa Commodities Group - South Africa
- Mercator Lines Limited - India
- Sarangani Energy Corporation, Philippines
- Mjunction Services Limited - India
- Uttam Galva Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- San Jose City I Power Corp, Philippines
- Bulk Trading Sa - Switzerland
- Australian Coal Association
- Electricity Authority, New Zealand
- Rio Tinto Coal - Australia
- Krishnapatnam Port Company Ltd. - India
- Ministry of Finance - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- Coal and Oil Company - UAE
- CNBM International Corporation - China
- Kumho Petrochemical, South Korea
- Dalmia Cement Bharat India
- European Bulk Services B.V. - Netherlands
- Siam City Cement - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Makarim & Taira - Indonesia
- Toyota Tsusho Corporation, Japan
- AsiaOL BioFuels Corp., Philippines
- Pendopo Energi Batubara - Indonesia
- Petron Corporation, Philippines
- New Zealand Coal & Carbon
- Coalindo Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Billiton Holdings Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Commonwealth Bank - Australia
- Bukit Baiduri Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Wilmar Investment Holdings
- Videocon Industries ltd - India
- Bhatia International Limited - India
- Meralco Power Generation, Philippines
- Semirara Mining Corp, Philippines
- Trasteel International SA, Italy
- CIMB Investment Bank - Malaysia
- IEA Clean Coal Centre - UK
- Bukit Asam (Persero) Tbk - Indonesia
- VISA Power Limited - India
- Sojitz Corporation - Japan
- Timah Investasi Mineral - Indoneisa
- Alfred C Toepfer International GmbH - Germany
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