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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, 17 July 23
APPROVED AMMONIA-FUELED CONTAINERSHIP - BENEFITS AND RISKS: REED SMITH
Following the news in Offshore Energy that Korea Maritime Consultants has secured approval in principle from the American Bureau of Shipping for it ...
Friday, 14 July 23
CLEAN COAL USE KEY TO DEEP CUTS IN EMISSIONS, STABLE ELECTRICITY SUPPLY - CHINA DAILY
China must push for the clean use of coal and step up integration of the dirty fuel with carbon capture, utilization and storage to achieve sustain ...
Thursday, 13 July 23
VIETNAM'S COAL EMISSIONS PRIMED FOR SURGE AFTER IMPORTS JUMP - REUTERS
Vietnam’s thermal power emissions are primed for a steep climb this summer after the country’s imports of thermal coal soared to their ...
Monday, 26 June 23
COAL PRODUCTION AND CONSUMPTION UP IN 2022 - EUROSTAT
In 2022, EU coal production and consumption continued to increase, reaching 349 million tonnes (+5% compared with the previous year) and 454 millio ...
Wednesday, 21 June 23
QATAR STRIKES SECOND BIG LNG SUPPLY DEAL WITH CHINA - REUTERS
Qatar on Tuesday secured its second large gas supply deal with a Chinese state-controlled company in less than a year, putting Asia clearly ahead i ...
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- Bank of Tokyo Mitsubishi UFJ Ltd
- LBH Netherlands Bv - Netherlands
- Manunggal Multi Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Sojitz Corporation - Japan
- Baramulti Group, Indonesia
- Madhucon Powers Ltd - India
- Uttam Galva Steels Limited - India
- Bulk Trading Sa - Switzerland
- The University of Queensland
- Oldendorff Carriers - Singapore
- Ministry of Transport, Egypt
- Dalmia Cement Bharat India
- Metalloyd Limited - United Kingdom
- Bhatia International Limited - India
- Leighton Contractors Pty Ltd - Australia
- Chamber of Mines of South Africa
- Globalindo Alam Lestari - Indonesia
- Star Paper Mills Limited - India
- Agrawal Coal Company - India
- Aboitiz Power Corporation - Philippines
- Sakthi Sugars Limited - India
- Latin American Coal - Colombia
- Energy Link Ltd, New Zealand
- Interocean Group of Companies - India
- Georgia Ports Authority, United States
- Bayan Resources Tbk. - Indonesia
- Commonwealth Bank - Australia
- Asmin Koalindo Tuhup - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Pendopo Energi Batubara - Indonesia
- Orica Mining Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Minerals Council of Australia
- McConnell Dowell - Australia
- Meralco Power Generation, Philippines
- Trasteel International SA, Italy
- AsiaOL BioFuels Corp., Philippines
- Toyota Tsusho Corporation, Japan
- Indonesian Coal Mining Association
- Ministry of Mines - Canada
- Riau Bara Harum - Indonesia
- Banpu Public Company Limited - Thailand
- Timah Investasi Mineral - Indoneisa
- Standard Chartered Bank - UAE
- Tata Chemicals Ltd - India
- Meenaskhi Energy Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- Australian Commodity Traders Exchange
- Siam City Cement PLC, Thailand
- Sarangani Energy Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Bukit Asam (Persero) Tbk - Indonesia
- White Energy Company Limited
- Sinarmas Energy and Mining - Indonesia
- Thai Mozambique Logistica
- Indika Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- The State Trading Corporation of India Ltd
- Wilmar Investment Holdings
- Petron Corporation, Philippines
- GVK Power & Infra Limited - India
- Lanco Infratech Ltd - India
- ICICI Bank Limited - India
- Videocon Industries ltd - India
- Miang Besar Coal Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Indogreen Group - Indonesia
- Xindia Steels Limited - India
- Global Business Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Romanian Commodities Exchange
- Sical Logistics Limited - India
- MS Steel International - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Samtan Co., Ltd - South Korea
- Parliament of New Zealand
- Vizag Seaport Private Limited - India
- SMC Global Power, Philippines
- Australian Coal Association
- Grasim Industreis Ltd - India
- South Luzon Thermal Energy Corporation
- Directorate Of Revenue Intelligence - India
- Edison Trading Spa - Italy
- Mercator Lines Limited - India
- Medco Energi Mining Internasional
- Bahari Cakrawala Sebuku - Indonesia
- Anglo American - United Kingdom
- Goldman Sachs - Singapore
- London Commodity Brokers - England
- Gujarat Sidhee Cement - India
- India Bulls Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bangladesh Power Developement Board
- Binh Thuan Hamico - Vietnam
- Central Java Power - Indonesia
- The Treasury - Australian Government
- Jaiprakash Power Ventures ltd
- Ministry of Finance - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- International Coal Ventures Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Iligan Light & Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Coal Council - USA
- European Bulk Services B.V. - Netherlands
- Singapore Mercantile Exchange
- Krishnapatnam Port Company Ltd. - India
- Energy Development Corp, Philippines
- Bhushan Steel Limited - India
- Aditya Birla Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Heidelberg Cement - Germany
- ASAPP Information Group - India
- Wood Mackenzie - Singapore
- Bhoruka Overseas - Indonesia
- Semirara Mining Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Carbofer General Trading SA - India
- Bukit Baiduri Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Coal and Oil Company - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Electricity Generating Authority of Thailand
- Simpson Spence & Young - Indonesia
- Indo Tambangraya Megah - Indonesia
- IEA Clean Coal Centre - UK
- Directorate General of MIneral and Coal - Indonesia
- Mjunction Services Limited - India
- Kartika Selabumi Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Thiess Contractors Indonesia
- Indian Energy Exchange, India
- Cement Manufacturers Association - India
- Economic Council, Georgia
- Maheswari Brothers Coal Limited - India
- Malabar Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Port Waratah Coal Services - Australia
- IHS Mccloskey Coal Group - USA
- Semirara Mining and Power Corporation, Philippines
- Central Electricity Authority - India
- Mintek Dendrill Indonesia
- Salva Resources Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Global Green Power PLC Corporation, Philippines
- Merrill Lynch Commodities Europe
- Coalindo Energy - Indonesia
- Parry Sugars Refinery, India
- Power Finance Corporation Ltd., India
- Altura Mining Limited, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GMR Energy Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coastal Gujarat Power Limited - India
- Kaltim Prima Coal - Indonesia
- PowerSource Philippines DevCo
- Mercuria Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Ambuja Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Gujarat Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Straits Asia Resources Limited - Singapore
- Rashtriya Ispat Nigam Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Marubeni Corporation - India
- Antam Resourcindo - Indonesia
- PTC India Limited - India
- Indian Oil Corporation Limited
- Posco Energy - South Korea
- VISA Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- San Jose City I Power Corp, Philippines
- Vedanta Resources Plc - India
- Tamil Nadu electricity Board
- Planning Commission, India
- Deloitte Consulting - India
- Orica Australia Pty. Ltd.
- Essar Steel Hazira Ltd - India
- New Zealand Coal & Carbon
- Global Coal Blending Company Limited - Australia
- Kobexindo Tractors - Indoneisa
- Makarim & Taira - Indonesia
- CNBM International Corporation - China
- Africa Commodities Group - South Africa
- TeaM Sual Corporation - Philippines
- Independent Power Producers Association of India
- Renaissance Capital - South Africa
- Bharathi Cement Corporation - India
- Attock Cement Pakistan Limited
- CIMB Investment Bank - Malaysia
- Sree Jayajothi Cements Limited - India
- PNOC Exploration Corporation - Philippines
- Kumho Petrochemical, South Korea
- SMG Consultants - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Barasentosa Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- Larsen & Toubro Limited - India
- Eastern Energy - Thailand
- Savvy Resources Ltd - HongKong
- Borneo Indobara - Indonesia
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