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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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Tuesday, 11 April 23
OIL RISES ON CHINA STIMULUS EXPECTATIONS, WEAKER DOLLAR - REUTERS
Oil prices rose on Tuesday on expectations of potential economic stimulus by China, healthy demand in the rest of Asia and a drop in U.S. crude sto ...
Sunday, 09 April 23
CHINA’S BUSINESS INCOME REBOUND POINTS TO IMPROVING ECONOMY: OFFICIAL - XINHUA
Chinese businesses have posted a strong rebound in sales revenue since the beginning of this year in the latest signal of an improving economy.
...
Sunday, 09 April 23
COAL INDIA TO BOOST SUPPLIES TO INDUSTRIES AS UTILITIES’ INVENTORIES RISE - REUTERS
Coal India Ltd will increase supplies to industries, the world’s largest coal miner said on Wednesday as fuel inventories at utilities run by ...
Thursday, 06 April 23
MARKET INSIGHT - INTERMODAL
LNG Current Supply/Demand Dynamics
This year, LNG supply will likely exceed demand, so prices will need to decline to levels that will encourag ...
Sunday, 26 March 23
EUROPE’S RUSH TO LNG COULD TURN INTO 'WORLD’S MOST EXPENSIVE AND UNNECESSARY INSURANCE POLICY'- CNBC
Europe’s rapid buildout of liquefied natural gas infrastructure is on track to far exceed demand by the end of the decade, according to new r ...
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Showing 111 to 115 news of total 6871 |
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- Carbofer General Trading SA - India
- TNB Fuel Sdn Bhd - Malaysia
- Therma Luzon, Inc, Philippines
- Indian Oil Corporation Limited
- Bahari Cakrawala Sebuku - Indonesia
- Deloitte Consulting - India
- Timah Investasi Mineral - Indoneisa
- Formosa Plastics Group - Taiwan
- Malabar Cements Ltd - India
- PowerSource Philippines DevCo
- Mintek Dendrill Indonesia
- IEA Clean Coal Centre - UK
- Directorate General of MIneral and Coal - Indonesia
- Sical Logistics Limited - India
- Tamil Nadu electricity Board
- Chettinad Cement Corporation Ltd - India
- Baramulti Group, Indonesia
- Power Finance Corporation Ltd., India
- Chamber of Mines of South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Finance - Indonesia
- ASAPP Information Group - India
- GVK Power & Infra Limited - India
- New Zealand Coal & Carbon
- Coal and Oil Company - UAE
- Bangladesh Power Developement Board
- Miang Besar Coal Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Aditya Birla Group - India
- Electricity Generating Authority of Thailand
- Ministry of Mines - Canada
- Standard Chartered Bank - UAE
- AsiaOL BioFuels Corp., Philippines
- PNOC Exploration Corporation - Philippines
- Vizag Seaport Private Limited - India
- Madhucon Powers Ltd - India
- Kapuas Tunggal Persada - Indonesia
- White Energy Company Limited
- Salva Resources Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- London Commodity Brokers - England
- PetroVietnam Power Coal Import and Supply Company
- Minerals Council of Australia
- Binh Thuan Hamico - Vietnam
- San Jose City I Power Corp, Philippines
- Bhushan Steel Limited - India
- Kumho Petrochemical, South Korea
- Grasim Industreis Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Cement Manufacturers Association - India
- Siam City Cement PLC, Thailand
- Bukit Makmur.PT - Indonesia
- The University of Queensland
- MS Steel International - UAE
- Siam City Cement - Thailand
- Antam Resourcindo - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Orica Mining Services - Indonesia
- Dalmia Cement Bharat India
- GMR Energy Limited - India
- Samtan Co., Ltd - South Korea
- Vedanta Resources Plc - India
- Iligan Light & Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Karbindo Abesyapradhi - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Intertek Mineral Services - Indonesia
- Bulk Trading Sa - Switzerland
- Renaissance Capital - South Africa
- Uttam Galva Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Africa Commodities Group - South Africa
- Karaikal Port Pvt Ltd - India
- Thiess Contractors Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Link Ltd, New Zealand
- Bhoruka Overseas - Indonesia
- South Luzon Thermal Energy Corporation
- Energy Development Corp, Philippines
- Larsen & Toubro Limited - India
- Agrawal Coal Company - India
- Planning Commission, India
- The Treasury - Australian Government
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Sidhee Cement - India
- Mercuria Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Kepco SPC Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- India Bulls Power Limited - India
- SMG Consultants - Indonesia
- Sindya Power Generating Company Private Ltd
- Electricity Authority, New Zealand
- Wood Mackenzie - Singapore
- Lanco Infratech Ltd - India
- PTC India Limited - India
- International Coal Ventures Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Mercator Lines Limited - India
- Banpu Public Company Limited - Thailand
- Rio Tinto Coal - Australia
- Parliament of New Zealand
- Bharathi Cement Corporation - India
- Jindal Steel & Power Ltd - India
- Kaltim Prima Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Australian Commodity Traders Exchange
- Videocon Industries ltd - India
- Central Java Power - Indonesia
- Coalindo Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Indian Energy Exchange, India
- Attock Cement Pakistan Limited
- Savvy Resources Ltd - HongKong
- Maheswari Brothers Coal Limited - India
- Coastal Gujarat Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Heidelberg Cement - Germany
- Georgia Ports Authority, United States
- Kartika Selabumi Mining - Indonesia
- Bhatia International Limited - India
- Globalindo Alam Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Wilmar Investment Holdings
- Edison Trading Spa - Italy
- Ministry of Transport, Egypt
- Alfred C Toepfer International GmbH - Germany
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- Trasteel International SA, Italy
- Posco Energy - South Korea
- Tata Chemicals Ltd - India
- Parry Sugars Refinery, India
- Port Waratah Coal Services - Australia
- Anglo American - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Semirara Mining Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Marubeni Corporation - India
- Independent Power Producers Association of India
- Medco Energi Mining Internasional
- Price Waterhouse Coopers - Russia
- Merrill Lynch Commodities Europe
- Economic Council, Georgia
- Global Business Power Corporation, Philippines
- Romanian Commodities Exchange
- Sojitz Corporation - Japan
- Riau Bara Harum - Indonesia
- Singapore Mercantile Exchange
- Bayan Resources Tbk. - Indonesia
- CNBM International Corporation - China
- Australian Coal Association
- Pendopo Energi Batubara - Indonesia
- Essar Steel Hazira Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- CIMB Investment Bank - Malaysia
- SN Aboitiz Power Inc, Philippines
- VISA Power Limited - India
- Mjunction Services Limited - India
- Indika Energy - Indonesia
- Star Paper Mills Limited - India
- Kohat Cement Company Ltd. - Pakistan
- IHS Mccloskey Coal Group - USA
- Aboitiz Power Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Indogreen Group - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- McConnell Dowell - Australia
- European Bulk Services B.V. - Netherlands
- Borneo Indobara - Indonesia
- Global Coal Blending Company Limited - Australia
- Thai Mozambique Logistica
- Petron Corporation, Philippines
- Sakthi Sugars Limited - India
- SMC Global Power, Philippines
- Sree Jayajothi Cements Limited - India
- Orica Australia Pty. Ltd.
- Semirara Mining and Power Corporation, Philippines
- Goldman Sachs - Singapore
- Indonesian Coal Mining Association
- Interocean Group of Companies - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Xindia Steels Limited - India
- Kobexindo Tractors - Indoneisa
- Latin American Coal - Colombia
- Meralco Power Generation, Philippines
- Eastern Energy - Thailand
- Ambuja Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Central Electricity Authority - India
- Bukit Baiduri Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Makarim & Taira - Indonesia
- Metalloyd Limited - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- Global Green Power PLC Corporation, Philippines
- Commonwealth Bank - Australia
- The State Trading Corporation of India Ltd
- Toyota Tsusho Corporation, Japan
- Oldendorff Carriers - Singapore
- Eastern Coal Council - USA
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