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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, 22 November 23
INDIA: GOVERNMENT PLANS 1.4 BILLION TONNE COAL OUTPUT BY 2027 - LIVEMINT
The Union coal ministry on Monday announced plans to increase India’s coal production to 1.404 billion tonne by 2027, with an eye to further ...
Wednesday, 22 November 23
OBLIGATION. INDONESIA AIMS TO START COLLECTING LEVIES FROM COAL MINERS IN JANUARY - REUTERS
Indonesia plans to start collecting levies from coal miners in January to be used to compensate miners who sell coal to the state utility at lower ...
Tuesday, 21 November 23
INDIAN COAL POWER PLANTS’ CAPACITY UTILISATION WILL IMPROVE TO 65% THIS FISCAL: - CRISIL
Coal-based thermal power units’ plant load factor (PLF) or capacity utilisation will improve to 65 percent in the current fiscal year despite ...
Tuesday, 14 November 23
CAPITAL PRODUCT PARTNERS L.P. ANNOUNCES TRANSFORMATIVE TRANSACTION INCLUDING THE ACQUISITION OF 11 NEWBUILD LNG CARRIERS FOR $3.1 BILLION
Capital Product Partners L.P. announced that it has entered into an umbrella agreement (the “Umbrella Agreement”) with Capital Maritime ...
Tuesday, 14 November 23
COAL INDIA BEATS Q2 PROFIT VIEW ON HIGH POWER DEMAND AMID WEAK MONSOON - REUTERS
Coal India on Friday reported better-than-expected second-quarter profit, helped by high power demand and boosted production amid a weak monsoon.
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- Chamber of Mines of South Africa
- Cigading International Bulk Terminal - Indonesia
- Indonesian Coal Mining Association
- The State Trading Corporation of India Ltd
- Bayan Resources Tbk. - Indonesia
- Global Green Power PLC Corporation, Philippines
- Parry Sugars Refinery, India
- Ministry of Mines - Canada
- TeaM Sual Corporation - Philippines
- Trasteel International SA, Italy
- Aditya Birla Group - India
- Directorate General of MIneral and Coal - Indonesia
- MS Steel International - UAE
- GMR Energy Limited - India
- Leighton Contractors Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- CNBM International Corporation - China
- Jindal Steel & Power Ltd - India
- New Zealand Coal & Carbon
- Kalimantan Lumbung Energi - Indonesia
- Romanian Commodities Exchange
- Marubeni Corporation - India
- SMC Global Power, Philippines
- McConnell Dowell - Australia
- Coal and Oil Company - UAE
- Straits Asia Resources Limited - Singapore
- ASAPP Information Group - India
- Independent Power Producers Association of India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chettinad Cement Corporation Ltd - India
- Medco Energi Mining Internasional
- Kohat Cement Company Ltd. - Pakistan
- San Jose City I Power Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Banpu Public Company Limited - Thailand
- GAC Shipping (India) Pvt Ltd
- GVK Power & Infra Limited - India
- Bhushan Steel Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Globalindo Alam Lestari - Indonesia
- PTC India Limited - India
- OPG Power Generation Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Altura Mining Limited, Indonesia
- Indika Energy - Indonesia
- Uttam Galva Steels Limited - India
- Intertek Mineral Services - Indonesia
- Cement Manufacturers Association - India
- Australian Commodity Traders Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Kaltim Prima Coal - Indonesia
- Gujarat Sidhee Cement - India
- Indian Energy Exchange, India
- Siam City Cement PLC, Thailand
- Indian Oil Corporation Limited
- ICICI Bank Limited - India
- Siam City Cement - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petron Corporation, Philippines
- Central Electricity Authority - India
- Edison Trading Spa - Italy
- European Bulk Services B.V. - Netherlands
- South Luzon Thermal Energy Corporation
- VISA Power Limited - India
- Merrill Lynch Commodities Europe
- PowerSource Philippines DevCo
- London Commodity Brokers - England
- Rio Tinto Coal - Australia
- Bulk Trading Sa - Switzerland
- Central Java Power - Indonesia
- SMG Consultants - Indonesia
- Samtan Co., Ltd - South Korea
- Kartika Selabumi Mining - Indonesia
- Goldman Sachs - Singapore
- Coastal Gujarat Power Limited - India
- Coalindo Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Coal Council - USA
- Energy Link Ltd, New Zealand
- Commonwealth Bank - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- Mercator Lines Limited - India
- Thai Mozambique Logistica
- Bangladesh Power Developement Board
- Price Waterhouse Coopers - Russia
- Sinarmas Energy and Mining - Indonesia
- Agrawal Coal Company - India
- Ind-Barath Power Infra Limited - India
- Kumho Petrochemical, South Korea
- Bharathi Cement Corporation - India
- Kobexindo Tractors - Indoneisa
- Australian Coal Association
- Karaikal Port Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Oldendorff Carriers - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Meenaskhi Energy Private Limited - India
- Mercuria Energy - Indonesia
- Orica Australia Pty. Ltd.
- Deloitte Consulting - India
- Maheswari Brothers Coal Limited - India
- Semirara Mining Corp, Philippines
- Xindia Steels Limited - India
- Planning Commission, India
- Mintek Dendrill Indonesia
- Savvy Resources Ltd - HongKong
- Star Paper Mills Limited - India
- Lanco Infratech Ltd - India
- Latin American Coal - Colombia
- Malabar Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Videocon Industries ltd - India
- Sojitz Corporation - Japan
- Orica Mining Services - Indonesia
- Bhatia International Limited - India
- Indo Tambangraya Megah - Indonesia
- Jaiprakash Power Ventures ltd
- Maharashtra Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- The Treasury - Australian Government
- Port Waratah Coal Services - Australia
- India Bulls Power Limited - India
- Therma Luzon, Inc, Philippines
- Larsen & Toubro Limited - India
- Alfred C Toepfer International GmbH - Germany
- Gujarat Mineral Development Corp Ltd - India
- Makarim & Taira - Indonesia
- Minerals Council of Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Pendopo Energi Batubara - Indonesia
- Economic Council, Georgia
- Antam Resourcindo - Indonesia
- Kideco Jaya Agung - Indonesia
- The University of Queensland
- Kepco SPC Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Ministry of Finance - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Georgia Ports Authority, United States
- Ceylon Electricity Board - Sri Lanka
- Meralco Power Generation, Philippines
- Interocean Group of Companies - India
- Eastern Energy - Thailand
- Iligan Light & Power Inc, Philippines
- Anglo American - United Kingdom
- Carbofer General Trading SA - India
- Electricity Authority, New Zealand
- Simpson Spence & Young - Indonesia
- Toyota Tsusho Corporation, Japan
- Manunggal Multi Energi - Indonesia
- Heidelberg Cement - Germany
- Aboitiz Power Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Sical Logistics Limited - India
- Bukit Makmur.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Attock Cement Pakistan Limited
- Wood Mackenzie - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Karbindo Abesyapradhi - Indoneisa
- Africa Commodities Group - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Transport, Egypt
- Baramulti Group, Indonesia
- Madhucon Powers Ltd - India
- Mjunction Services Limited - India
- AsiaOL BioFuels Corp., Philippines
- Tamil Nadu electricity Board
- Vizag Seaport Private Limited - India
- SN Aboitiz Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Kapuas Tunggal Persada - Indonesia
- Vedanta Resources Plc - India
- Gujarat Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- IHS Mccloskey Coal Group - USA
- Timah Investasi Mineral - Indoneisa
- Metalloyd Limited - United Kingdom
- Standard Chartered Bank - UAE
- Wilmar Investment Holdings
- Krishnapatnam Port Company Ltd. - India
- Tata Chemicals Ltd - India
- Riau Bara Harum - Indonesia
- Singapore Mercantile Exchange
- Ambuja Cements Ltd - India
- Power Finance Corporation Ltd., India
- Neyveli Lignite Corporation Ltd, - India
- Dalmia Cement Bharat India
- Sindya Power Generating Company Private Ltd
- Sakthi Sugars Limited - India
- Sarangani Energy Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Salva Resources Pvt Ltd - India
- Energy Development Corp, Philippines
- Barasentosa Lestari - Indonesia
- Grasim Industreis Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- IEA Clean Coal Centre - UK
- Global Business Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Posco Energy - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Baiduri Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Borneo Indobara - Indonesia
- Parliament of New Zealand
- Indogreen Group - Indonesia
- Renaissance Capital - South Africa
- Thiess Contractors Indonesia
- Miang Besar Coal Terminal - Indonesia
- White Energy Company Limited
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