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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, 21 June 23
CHINA'S MAY COAL IMPORTS FROM AUSTRALIA RECOVER TO PRE-BAN LEVELS - REUTERS
Australian coal sales to China increased in May, as trade resumed between them even as overall coal demand weakened against an uncertain macroecono ...
Monday, 19 June 23
DROUGHT-DEPLETED HYDROPOWER DRIVES CHINA TO TURN TO COAL - REUTERS
China has leant hard on coal-fired power plants as well as wind and solar generators to make up for a shortfall in hydroelectric generation as a re ...
Monday, 19 June 23
CHINA COAL OUTPUT UP 4.2 PCT IN MAY - XINHUA
China’s raw coal output posted steady growth in May, official data showed.
The country produced 390 million tonnes of raw coal ...
Wednesday, 24 May 23
AMMONIA-FUELLED BULK CARRIERS WITHIN FIVE YEARS - BALTIC EXCHANGE
Within five years, ships powered by clean ammonia could be a feature on the iron ore trade routes between West Australia and East Asia.
A study ...
Tuesday, 23 May 23
CHINA'S APRIL COAL OUTPUT LEAPS 11% ON YEAR, BUT DEMAND DOWNTURN LOOMS - REUTERS
China’s daily coal output in April jumped 11% from the same month a year earlier, boosted by Beijing’s order to increase supply to ensu ...
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- Mintek Dendrill Indonesia
- Independent Power Producers Association of India
- Meralco Power Generation, Philippines
- GMR Energy Limited - India
- Bukit Makmur.PT - Indonesia
- Savvy Resources Ltd - HongKong
- Anglo American - United Kingdom
- Kideco Jaya Agung - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Therma Luzon, Inc, Philippines
- Mercuria Energy - Indonesia
- Chamber of Mines of South Africa
- VISA Power Limited - India
- Eastern Energy - Thailand
- SMG Consultants - Indonesia
- Formosa Plastics Group - Taiwan
- Salva Resources Pvt Ltd - India
- Sojitz Corporation - Japan
- Kepco SPC Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Madhucon Powers Ltd - India
- Samtan Co., Ltd - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Deloitte Consulting - India
- Orica Australia Pty. Ltd.
- Dalmia Cement Bharat India
- London Commodity Brokers - England
- Antam Resourcindo - Indonesia
- Standard Chartered Bank - UAE
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- Rashtriya Ispat Nigam Limited - India
- Coastal Gujarat Power Limited - India
- Larsen & Toubro Limited - India
- Bayan Resources Tbk. - Indonesia
- Global Coal Blending Company Limited - Australia
- Planning Commission, India
- Romanian Commodities Exchange
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- The Treasury - Australian Government
- Coal and Oil Company - UAE
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- PTC India Limited - India
- Indian Oil Corporation Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Latin American Coal - Colombia
- Australian Coal Association
- PowerSource Philippines DevCo
- Leighton Contractors Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- PNOC Exploration Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Malabar Cements Ltd - India
- Electricity Generating Authority of Thailand
- Marubeni Corporation - India
- Price Waterhouse Coopers - Russia
- Alfred C Toepfer International GmbH - Germany
- Globalindo Alam Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Barasentosa Lestari - Indonesia
- Bulk Trading Sa - Switzerland
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- Ministry of Transport, Egypt
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- Thiess Contractors Indonesia
- Aditya Birla Group - India
- Interocean Group of Companies - India
- Lanco Infratech Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Vizag Seaport Private Limited - India
- Essar Steel Hazira Ltd - India
- Toyota Tsusho Corporation, Japan
- Energy Link Ltd, New Zealand
- Tamil Nadu electricity Board
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- Carbofer General Trading SA - India
- Maharashtra Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Gujarat Sidhee Cement - India
- SMC Global Power, Philippines
- Holcim Trading Pte Ltd - Singapore
- Wood Mackenzie - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- ICICI Bank Limited - India
- Billiton Holdings Pty Ltd - Australia
- Xindia Steels Limited - India
- Ambuja Cements Ltd - India
- Singapore Mercantile Exchange
- CIMB Investment Bank - Malaysia
- Karaikal Port Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Trasteel International SA, Italy
- SN Aboitiz Power Inc, Philippines
- Sakthi Sugars Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Cement Manufacturers Association - India
- Kaltim Prima Coal - Indonesia
- Bangladesh Power Developement Board
- San Jose City I Power Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Mjunction Services Limited - India
- Ceylon Electricity Board - Sri Lanka
- Baramulti Group, Indonesia
- The University of Queensland
- Commonwealth Bank - Australia
- Central Electricity Authority - India
- Semirara Mining Corp, Philippines
- IEA Clean Coal Centre - UK
- Eastern Coal Council - USA
- Central Java Power - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- India Bulls Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Economic Council, Georgia
- Bhushan Steel Limited - India
- Heidelberg Cement - Germany
- Indika Energy - Indonesia
- Sical Logistics Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Borneo Indobara - Indonesia
- Africa Commodities Group - South Africa
- Indogreen Group - Indonesia
- Vedanta Resources Plc - India
- Iligan Light & Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Sarangani Energy Corporation, Philippines
- White Energy Company Limited
- Thai Mozambique Logistica
- Bhoruka Overseas - Indonesia
- Australian Commodity Traders Exchange
- Binh Thuan Hamico - Vietnam
- Makarim & Taira - Indonesia
- Altura Mining Limited, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Edison Trading Spa - Italy
- Riau Bara Harum - Indonesia
- Ministry of Mines - Canada
- Meenaskhi Energy Private Limited - India
- Parry Sugars Refinery, India
- Sree Jayajothi Cements Limited - India
- Jindal Steel & Power Ltd - India
- Global Business Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Georgia Ports Authority, United States
- Energy Development Corp, Philippines
- Coalindo Energy - Indonesia
- TeaM Sual Corporation - Philippines
- The State Trading Corporation of India Ltd
- Star Paper Mills Limited - India
- Ind-Barath Power Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Medco Energi Mining Internasional
- Intertek Mineral Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Posco Energy - South Korea
- Siam City Cement - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- McConnell Dowell - Australia
- LBH Netherlands Bv - Netherlands
- Simpson Spence & Young - Indonesia
- Merrill Lynch Commodities Europe
- Indian Energy Exchange, India
- Renaissance Capital - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Parliament of New Zealand
- Cigading International Bulk Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Siam City Cement PLC, Thailand
- Pendopo Energi Batubara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Mercator Lines Limited - India
- Jorong Barutama Greston.PT - Indonesia
- New Zealand Coal & Carbon
- Port Waratah Coal Services - Australia
- International Coal Ventures Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Grasim Industreis Ltd - India
- Agrawal Coal Company - India
- GN Power Mariveles Coal Plant, Philippines
- Bhatia International Limited - India
- European Bulk Services B.V. - Netherlands
- Oldendorff Carriers - Singapore
- Manunggal Multi Energi - Indonesia
- CNBM International Corporation - China
- Banpu Public Company Limited - Thailand
- Krishnapatnam Port Company Ltd. - India
- ASAPP Information Group - India
- MS Steel International - UAE
- Metalloyd Limited - United Kingdom
- Bharathi Cement Corporation - India
- Wilmar Investment Holdings
- Tata Chemicals Ltd - India
- Minerals Council of Australia
- Timah Investasi Mineral - Indoneisa
- Straits Asia Resources Limited - Singapore
- Semirara Mining and Power Corporation, Philippines
- Indonesian Coal Mining Association
- Ministry of Finance - Indonesia
- Attock Cement Pakistan Limited
- Rio Tinto Coal - Australia
- Directorate Of Revenue Intelligence - India
- Aboitiz Power Corporation - Philippines
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- Videocon Industries ltd - India
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