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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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Friday, 01 December 23
COAL MINERS GROUP EXPECTS INDONESIA’S 2023 COAL OUTPUT TO SURPASS TARGET - REUTERS
The Indonesian Coal Mining Association (ICMA) expects the country’s 2023 coal output to surpass the official target of 695 million metric ton ...
Friday, 24 November 23
COAL IMPORTS TO INDIA IN OCTOBER 2023 REACHED HIGHEST LEVELS IN NEARLY A YEAR AND A HALF - VESSELSVALUE, VESON NAUTICAL
In October, coal imports to India reached 13.8 mt in October 2023, according to Oceanbolt, a Veson Nautical solution, the highest level since May 2 ...
Friday, 24 November 23
COAL SHIPMENTS TO ADVANCED ECONOMIES DOWN 17% SO FAR IN 2023 - BIMCO
In the first ten months of 2023, coal shipments to advanced economies fell by 17% y/y, as demand for electricity declined and the share of electric ...
Friday, 24 November 23
INTELLIGENT COAL MINES CONTRIBUTE TO IMPROVING SAFETY STANDARDS - CHINA DAILY
Mechanization, automation and intelligent upgrades have contributed to improved safety in coal mines, though the level of development of intelligen ...
Friday, 24 November 23
WHY AUSTRALIA'S COAL MINES ARE GETTING BIGGER - IEEFA
Australia’s largest coal mines are getting larger. Mines in New South Wales (NSW) are ramping up production following the state’s recov ...
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- Sinarmas Energy and Mining - Indonesia
- Indonesian Coal Mining Association
- GN Power Mariveles Coal Plant, Philippines
- Parliament of New Zealand
- Thiess Contractors Indonesia
- San Jose City I Power Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Kepco SPC Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining and Power Corporation, Philippines
- Videocon Industries ltd - India
- IEA Clean Coal Centre - UK
- Petron Corporation, Philippines
- Goldman Sachs - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Ambuja Cements Ltd - India
- Medco Energi Mining Internasional
- Ministry of Transport, Egypt
- Sojitz Corporation - Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Merrill Lynch Commodities Europe
- Africa Commodities Group - South Africa
- The State Trading Corporation of India Ltd
- Simpson Spence & Young - Indonesia
- Jaiprakash Power Ventures ltd
- The University of Queensland
- Leighton Contractors Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Makarim & Taira - Indonesia
- Georgia Ports Authority, United States
- PowerSource Philippines DevCo
- Thai Mozambique Logistica
- Kumho Petrochemical, South Korea
- Kapuas Tunggal Persada - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- GVK Power & Infra Limited - India
- Tamil Nadu electricity Board
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coalindo Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Attock Cement Pakistan Limited
- Barasentosa Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- LBH Netherlands Bv - Netherlands
- Ministry of Finance - Indonesia
- Parry Sugars Refinery, India
- SMC Global Power, Philippines
- Deloitte Consulting - India
- Bhatia International Limited - India
- Indo Tambangraya Megah - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Agrawal Coal Company - India
- Indian Energy Exchange, India
- Metalloyd Limited - United Kingdom
- Bulk Trading Sa - Switzerland
- Eastern Energy - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- Eastern Coal Council - USA
- Economic Council, Georgia
- Larsen & Toubro Limited - India
- Energy Development Corp, Philippines
- Madhucon Powers Ltd - India
- Wood Mackenzie - Singapore
- Uttam Galva Steels Limited - India
- Interocean Group of Companies - India
- Global Green Power PLC Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- CIMB Investment Bank - Malaysia
- Malabar Cements Ltd - India
- Heidelberg Cement - Germany
- Orica Mining Services - Indonesia
- Iligan Light & Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Independent Power Producers Association of India
- Aditya Birla Group - India
- New Zealand Coal & Carbon
- Marubeni Corporation - India
- Globalindo Alam Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining Corp, Philippines
- VISA Power Limited - India
- Baramulti Group, Indonesia
- Power Finance Corporation Ltd., India
- Singapore Mercantile Exchange
- Australian Commodity Traders Exchange
- Romanian Commodities Exchange
- Ceylon Electricity Board - Sri Lanka
- Manunggal Multi Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- Ministry of Mines - Canada
- Binh Thuan Hamico - Vietnam
- Orica Australia Pty. Ltd.
- Antam Resourcindo - Indonesia
- Wilmar Investment Holdings
- Australian Coal Association
- Sree Jayajothi Cements Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Chamber of Mines of South Africa
- Edison Trading Spa - Italy
- Sical Logistics Limited - India
- Trasteel International SA, Italy
- Coal and Oil Company - UAE
- Port Waratah Coal Services - Australia
- ASAPP Information Group - India
- Siam City Cement - Thailand
- India Bulls Power Limited - India
- Star Paper Mills Limited - India
- Straits Asia Resources Limited - Singapore
- Gujarat Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- Formosa Plastics Group - Taiwan
- Mjunction Services Limited - India
- Mercator Lines Limited - India
- Kaltim Prima Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Vedanta Resources Plc - India
- GMR Energy Limited - India
- Bukit Makmur.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Borneo Indobara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Global Business Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Central Electricity Authority - India
- Sarangani Energy Corporation, Philippines
- Tata Chemicals Ltd - India
- OPG Power Generation Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Electricity Generating Authority of Thailand
- Bayan Resources Tbk. - Indonesia
- Kobexindo Tractors - Indoneisa
- Central Java Power - Indonesia
- Aboitiz Power Corporation - Philippines
- Riau Bara Harum - Indonesia
- Toyota Tsusho Corporation, Japan
- ICICI Bank Limited - India
- Bangladesh Power Developement Board
- International Coal Ventures Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Krishnapatnam Port Company Ltd. - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- IHS Mccloskey Coal Group - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maheswari Brothers Coal Limited - India
- Posco Energy - South Korea
- Therma Luzon, Inc, Philippines
- McConnell Dowell - Australia
- Indian Oil Corporation Limited
- Meralco Power Generation, Philippines
- Altura Mining Limited, Indonesia
- Standard Chartered Bank - UAE
- Gujarat Mineral Development Corp Ltd - India
- Lanco Infratech Ltd - India
- Xindia Steels Limited - India
- Mercuria Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Latin American Coal - Colombia
- Dalmia Cement Bharat India
- Planning Commission, India
- Bahari Cakrawala Sebuku - Indonesia
- Sakthi Sugars Limited - India
- Minerals Council of Australia
- Timah Investasi Mineral - Indoneisa
- TeaM Sual Corporation - Philippines
- MS Steel International - UAE
- Bharathi Cement Corporation - India
- Savvy Resources Ltd - HongKong
- South Luzon Thermal Energy Corporation
- Billiton Holdings Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- Indogreen Group - Indonesia
- Rio Tinto Coal - Australia
- The Treasury - Australian Government
- Kartika Selabumi Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Anglo American - United Kingdom
- SMG Consultants - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Mintek Dendrill Indonesia
- Gujarat Sidhee Cement - India
- Salva Resources Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Cement Manufacturers Association - India
- Kohat Cement Company Ltd. - Pakistan
- White Energy Company Limited
- Sindya Power Generating Company Private Ltd
- Electricity Authority, New Zealand
- Price Waterhouse Coopers - Russia
- European Bulk Services B.V. - Netherlands
- Essar Steel Hazira Ltd - India
- Bhushan Steel Limited - India
- Carbofer General Trading SA - India
- Coastal Gujarat Power Limited - India
- PTC India Limited - India
- Intertek Mineral Services - Indonesia
- Indika Energy - Indonesia
- Energy Link Ltd, New Zealand
- Rashtriya Ispat Nigam Limited - India
- CNBM International Corporation - China
- GAC Shipping (India) Pvt Ltd
- Jindal Steel & Power Ltd - India
- Kideco Jaya Agung - Indonesia
- London Commodity Brokers - England
- Grasim Industreis Ltd - India
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