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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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Monday, 08 January 24
KOSPO TO BUY 80000 MT OF INDONESIAN LOW CALORIFIC VALUE COAL FOR FEB 2024
Korea Southern Power Co., Ltd. (KOSPO), is inviting bids for the supply of Indonesian Low Calorific Value Coal from qualified suppliers for Korean ...
Monday, 08 January 24
SEABORNE TRADE REACHES 12.4BN TONNES - CLARKSONS
China will establish a back-up coal production system by 2027 to stabilise prices and secure coal supply, the state planner said on Wednesday, even ...
Monday, 08 January 24
CAPESIZES START THE NEW YEAR ON POSITIVE NOTE - BALTIC EXCHANGE
Capesize
This week the capsize market has been marked by a mix of activities and challenges. Despite a slow start following the Christmas and N ...
Friday, 05 January 24
MORGAN STANLEY SEES LOWER OIL PRICES IN 2024 ON OVERSUPPLY CONCERNS - REUTERS
Morgan Stanley sees Brent crude prices anchored near $80 per barrel in the first half in 2024 before declining towards the end of the year as it ex ...
Friday, 05 January 24
INDIA'S COAL OUTPUT RISES NEARLY 11 PC IN DEC TO 92.87 MT - PTI
India’s coal production increased by 10.75 per cent to 92.87 million tonne in December 2023 as compared to the year-ago period, an official s ...
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- Timah Investasi Mineral - Indoneisa
- Ind-Barath Power Infra Limited - India
- Mjunction Services Limited - India
- Bhushan Steel Limited - India
- Indonesian Coal Mining Association
- Attock Cement Pakistan Limited
- Maheswari Brothers Coal Limited - India
- Central Java Power - Indonesia
- The State Trading Corporation of India Ltd
- SMC Global Power, Philippines
- Essar Steel Hazira Ltd - India
- Gujarat Sidhee Cement - India
- Australian Coal Association
- Jindal Steel & Power Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Miang Besar Coal Terminal - Indonesia
- Sojitz Corporation - Japan
- Dalmia Cement Bharat India
- Global Green Power PLC Corporation, Philippines
- Agrawal Coal Company - India
- Riau Bara Harum - Indonesia
- Economic Council, Georgia
- Antam Resourcindo - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Leighton Contractors Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Indika Energy - Indonesia
- Mercuria Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Wood Mackenzie - Singapore
- Africa Commodities Group - South Africa
- McConnell Dowell - Australia
- Central Electricity Authority - India
- Georgia Ports Authority, United States
- Coalindo Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Indian Energy Exchange, India
- Vedanta Resources Plc - India
- San Jose City I Power Corp, Philippines
- Star Paper Mills Limited - India
- GMR Energy Limited - India
- Romanian Commodities Exchange
- Coal and Oil Company - UAE
- Ministry of Finance - Indonesia
- Renaissance Capital - South Africa
- Directorate General of MIneral and Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Straits Asia Resources Limited - Singapore
- Sarangani Energy Corporation, Philippines
- Thai Mozambique Logistica
- Aboitiz Power Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Oldendorff Carriers - Singapore
- Standard Chartered Bank - UAE
- Jorong Barutama Greston.PT - Indonesia
- Goldman Sachs - Singapore
- Kideco Jaya Agung - Indonesia
- Port Waratah Coal Services - Australia
- Energy Development Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Parry Sugars Refinery, India
- Orica Australia Pty. Ltd.
- Karaikal Port Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Planning Commission, India
- Alfred C Toepfer International GmbH - Germany
- Electricity Generating Authority of Thailand
- Meralco Power Generation, Philippines
- Global Business Power Corporation, Philippines
- Tata Chemicals Ltd - India
- The Treasury - Australian Government
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Edison Trading Spa - Italy
- Xindia Steels Limited - India
- Chamber of Mines of South Africa
- Interocean Group of Companies - India
- Kalimantan Lumbung Energi - Indonesia
- Minerals Council of Australia
- Latin American Coal - Colombia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Banpu Public Company Limited - Thailand
- Thiess Contractors Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Indian Oil Corporation Limited
- Commonwealth Bank - Australia
- Sical Logistics Limited - India
- Lanco Infratech Ltd - India
- Energy Link Ltd, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Malabar Cements Ltd - India
- CNBM International Corporation - China
- The University of Queensland
- Binh Thuan Hamico - Vietnam
- South Luzon Thermal Energy Corporation
- New Zealand Coal & Carbon
- VISA Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Makmur.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Bhatia International Limited - India
- MS Steel International - UAE
- Sakthi Sugars Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- European Bulk Services B.V. - Netherlands
- White Energy Company Limited
- Gujarat Mineral Development Corp Ltd - India
- IEA Clean Coal Centre - UK
- Cement Manufacturers Association - India
- Kartika Selabumi Mining - Indonesia
- ICICI Bank Limited - India
- Eastern Energy - Thailand
- LBH Netherlands Bv - Netherlands
- Barasentosa Lestari - Indonesia
- Larsen & Toubro Limited - India
- Salva Resources Pvt Ltd - India
- Marubeni Corporation - India
- Therma Luzon, Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- India Bulls Power Limited - India
- Ministry of Transport, Egypt
- Independent Power Producers Association of India
- Aditya Birla Group - India
- Intertek Mineral Services - Indonesia
- Vizag Seaport Private Limited - India
- Carbofer General Trading SA - India
- Kepco SPC Power Corporation, Philippines
- Videocon Industries ltd - India
- ASAPP Information Group - India
- Toyota Tsusho Corporation, Japan
- Manunggal Multi Energi - Indonesia
- Deloitte Consulting - India
- Anglo American - United Kingdom
- Baramulti Group, Indonesia
- Electricity Authority, New Zealand
- PowerSource Philippines DevCo
- Madhucon Powers Ltd - India
- Heidelberg Cement - Germany
- Kobexindo Tractors - Indoneisa
- Bharathi Cement Corporation - India
- SMG Consultants - Indonesia
- Coastal Gujarat Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Mercator Lines Limited - India
- Singapore Mercantile Exchange
- Orica Mining Services - Indonesia
- Makarim & Taira - Indonesia
- Merrill Lynch Commodities Europe
- Kohat Cement Company Ltd. - Pakistan
- Australian Commodity Traders Exchange
- Rashtriya Ispat Nigam Limited - India
- Bangladesh Power Developement Board
- Kumho Petrochemical, South Korea
- Rio Tinto Coal - Australia
- Formosa Plastics Group - Taiwan
- AsiaOL BioFuels Corp., Philippines
- Cigading International Bulk Terminal - Indonesia
- Ministry of Mines - Canada
- Medco Energi Mining Internasional
- Bukit Baiduri Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bulk Trading Sa - Switzerland
- Indogreen Group - Indonesia
- Siam City Cement - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Simpson Spence & Young - Indonesia
- Sindya Power Generating Company Private Ltd
- Eastern Coal Council - USA
- Asmin Koalindo Tuhup - Indonesia
- Uttam Galva Steels Limited - India
- Borneo Indobara - Indonesia
- IHS Mccloskey Coal Group - USA
- Kaltim Prima Coal - Indonesia
- Trasteel International SA, Italy
- OPG Power Generation Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Posco Energy - South Korea
- Parliament of New Zealand
- Jaiprakash Power Ventures ltd
- Directorate Of Revenue Intelligence - India
- Grasim Industreis Ltd - India
- Petron Corporation, Philippines
- Metalloyd Limited - United Kingdom
- London Commodity Brokers - England
- Ambuja Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- TeaM Sual Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Power Finance Corporation Ltd., India
- GAC Shipping (India) Pvt Ltd
- Wilmar Investment Holdings
- Billiton Holdings Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- Sree Jayajothi Cements Limited - India
- GVK Power & Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- Pendopo Energi Batubara - Indonesia
- Price Waterhouse Coopers - Russia
- Mintek Dendrill Indonesia
- Tamil Nadu electricity Board
- Gujarat Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PTC India Limited - India
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