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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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Sunday, 16 April 23
CHINA JUGGLES FOUR MAJOR ECONOMIC CHANGES IN 2023 - WOOD MACKENZIE
Change is afoot in China. Economic growth is slowing, while rising political tensions between China and the US, coupled with global supply chain re ...
Sunday, 16 April 23
CHINA'S MARCH COAL IMPORTS JUMP TO 3-YEAR HIGH - REUTERS
China’s coal imports surged in March to their highest in any month over the past three years as utilities increased purchases on expectations ...
Sunday, 16 April 23
OPEC KEEPS WORLD OIL DEMAND GROWTH OUTLOOK UNCHANGED
The OPEC Reference Basket (ORB) declined in March by $3.43, or 4.2%, m-o-m to average $78.45/b. The ICE Brent first-month contract fell by $4.33, o ...
Sunday, 16 April 23
CHEAPER SPOT LNG PRICES TEMPT SOME ASIAN BUYERS AMID SUPPLY GAINS - REUTERS
Cheaper spot prices for liquefied natural gas (LNG) are luring price-sensitive buyers back in Asia, with China and India recording rising imports i ...
Tuesday, 11 April 23
COAL USE CLIMBS WORLDWIDE DESPITE PROMISES TO SLASH IT - AAP
The burning of coal for electricity, cement, steel and other uses went up in 2022 despite global promises to phase down the fuel that is the bigges ...
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- Edison Trading Spa - Italy
- Uttam Galva Steels Limited - India
- Sakthi Sugars Limited - India
- PetroVietnam Power Coal Import and Supply Company
- TeaM Sual Corporation - Philippines
- Thiess Contractors Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GAC Shipping (India) Pvt Ltd
- International Coal Ventures Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Parry Sugars Refinery, India
- Chamber of Mines of South Africa
- Bharathi Cement Corporation - India
- Indika Energy - Indonesia
- Semirara Mining Corp, Philippines
- Marubeni Corporation - India
- Ministry of Mines - Canada
- Kaltim Prima Coal - Indonesia
- Wood Mackenzie - Singapore
- Grasim Industreis Ltd - India
- Sindya Power Generating Company Private Ltd
- Petron Corporation, Philippines
- Ambuja Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- Bulk Trading Sa - Switzerland
- San Jose City I Power Corp, Philippines
- Metalloyd Limited - United Kingdom
- Borneo Indobara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kobexindo Tractors - Indoneisa
- Karaikal Port Pvt Ltd - India
- Siam City Cement - Thailand
- PowerSource Philippines DevCo
- Bayan Resources Tbk. - Indonesia
- Banpu Public Company Limited - Thailand
- Directorate Of Revenue Intelligence - India
- Oldendorff Carriers - Singapore
- Pendopo Energi Batubara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Videocon Industries ltd - India
- Baramulti Group, Indonesia
- Ministry of Transport, Egypt
- Central Java Power - Indonesia
- Bukit Baiduri Energy - Indonesia
- GMR Energy Limited - India
- Timah Investasi Mineral - Indoneisa
- VISA Power Limited - India
- Parliament of New Zealand
- Independent Power Producers Association of India
- Australian Commodity Traders Exchange
- PNOC Exploration Corporation - Philippines
- Planning Commission, India
- Kepco SPC Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Cement Manufacturers Association - India
- Maharashtra Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- India Bulls Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- Coalindo Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Mercator Lines Limited - India
- Meralco Power Generation, Philippines
- Goldman Sachs - Singapore
- Semirara Mining and Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Anglo American - United Kingdom
- Global Coal Blending Company Limited - Australia
- Bhatia International Limited - India
- Orica Mining Services - Indonesia
- Georgia Ports Authority, United States
- Bukit Asam (Persero) Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Sinarmas Energy and Mining - Indonesia
- Gujarat Sidhee Cement - India
- South Luzon Thermal Energy Corporation
- Neyveli Lignite Corporation Ltd, - India
- Alfred C Toepfer International GmbH - Germany
- Deloitte Consulting - India
- Jorong Barutama Greston.PT - Indonesia
- Wilmar Investment Holdings
- White Energy Company Limited
- Toyota Tsusho Corporation, Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhushan Steel Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Coal Council - USA
- Australian Coal Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Simpson Spence & Young - Indonesia
- Makarim & Taira - Indonesia
- Indogreen Group - Indonesia
- ICICI Bank Limited - India
- Rio Tinto Coal - Australia
- Miang Besar Coal Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Riau Bara Harum - Indonesia
- Formosa Plastics Group - Taiwan
- Kartika Selabumi Mining - Indonesia
- ASAPP Information Group - India
- Dalmia Cement Bharat India
- New Zealand Coal & Carbon
- Price Waterhouse Coopers - Russia
- Mercuria Energy - Indonesia
- Aditya Birla Group - India
- The Treasury - Australian Government
- SMG Consultants - Indonesia
- Tamil Nadu electricity Board
- Petrochimia International Co. Ltd.- Taiwan
- Barasentosa Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- IHS Mccloskey Coal Group - USA
- LBH Netherlands Bv - Netherlands
- Lanco Infratech Ltd - India
- Energy Development Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Trasteel International SA, Italy
- Global Green Power PLC Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- CIMB Investment Bank - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Ind-Barath Power Infra Limited - India
- Indian Oil Corporation Limited
- Ministry of Finance - Indonesia
- Sical Logistics Limited - India
- The State Trading Corporation of India Ltd
- Aboitiz Power Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Minerals Council of Australia
- Merrill Lynch Commodities Europe
- Posco Energy - South Korea
- Indian Energy Exchange, India
- Vijayanagar Sugar Pvt Ltd - India
- Xindia Steels Limited - India
- Altura Mining Limited, Indonesia
- Singapore Mercantile Exchange
- Directorate General of MIneral and Coal - Indonesia
- Vedanta Resources Plc - India
- Coal and Oil Company - UAE
- Larsen & Toubro Limited - India
- Romanian Commodities Exchange
- Indonesian Coal Mining Association
- OPG Power Generation Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Latin American Coal - Colombia
- Energy Link Ltd, New Zealand
- Economic Council, Georgia
- MS Steel International - UAE
- Renaissance Capital - South Africa
- Vizag Seaport Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Malabar Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Commonwealth Bank - Australia
- Orica Australia Pty. Ltd.
- Asmin Koalindo Tuhup - Indonesia
- London Commodity Brokers - England
- Medco Energi Mining Internasional
- Global Business Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- McConnell Dowell - Australia
- Essar Steel Hazira Ltd - India
- Bangladesh Power Developement Board
- Siam City Cement PLC, Thailand
- Iligan Light & Power Inc, Philippines
- Mintek Dendrill Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Savvy Resources Ltd - HongKong
- Bahari Cakrawala Sebuku - Indonesia
- Interocean Group of Companies - India
- Coastal Gujarat Power Limited - India
- Chettinad Cement Corporation Ltd - India
- IEA Clean Coal Centre - UK
- Samtan Co., Ltd - South Korea
- Straits Asia Resources Limited - Singapore
- Sree Jayajothi Cements Limited - India
- GVK Power & Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- Eastern Energy - Thailand
- European Bulk Services B.V. - Netherlands
- The University of Queensland
- Port Waratah Coal Services - Australia
- Leighton Contractors Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Electricity Generating Authority of Thailand
- Attock Cement Pakistan Limited
- Meenaskhi Energy Private Limited - India
- Jindal Steel & Power Ltd - India
- Maheswari Brothers Coal Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kideco Jaya Agung - Indonesia
- Africa Commodities Group - South Africa
- Kumho Petrochemical, South Korea
- CNBM International Corporation - China
- Jaiprakash Power Ventures ltd
- Electricity Authority, New Zealand
- Thai Mozambique Logistica
- Central Electricity Authority - India
- Star Paper Mills Limited - India
- Antam Resourcindo - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Agrawal Coal Company - India
- PTC India Limited - India
- Tata Chemicals Ltd - India
- Heidelberg Cement - Germany
- Standard Chartered Bank - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Carbofer General Trading SA - India
- SMC Global Power, Philippines
- Mjunction Services Limited - India
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