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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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Saturday, 25 March 23
COAL INDIA HAS STRONG CASE TO INCREASE PRICES, TALKS ON: CMD AGRAWAL - BUSINESS STANDARD
Coal India (CIL) Chairman and Managing Director Pramod Agrawal said on Monday there is a “strong case” for increasing coal prices, and ...
Saturday, 25 March 23
ASIAN CRUDE PALM OIL WATCH 1Q23 - FITCH RATINGS
Malaysian benchmark crude palm oil (CPO) spot prices have averaged around USD915 per tonne (t) so far in 1Q23, sharply lower than the average of ar ...
Saturday, 25 March 23
INDONESIA’S COAL EXPORT INCREASED BY 21.0% YOY TO 388.4 MLN T IN 2022 - BANCHERO COSTA
After a slow start in the first quarter, global coal trade has really picked up pace last year, and is now fully back to pre-Covid levels. In the f ...
Saturday, 25 March 23
GLOBAL LNG-ASIA SPOT PRICES SLIP AS WEAK NORTHERN DEMAND REMAINS - REUTERS
Asian spot prices of liquefied natural gas (LNG) declined this week, falling to a 21-month low, as weak demand in the northeast Asia region continu ...
Wednesday, 22 March 23
OIL PRICE FALL SPECULATIVE, TO HIT $140 BY YEAR-END -ANDURAND: REUTERS
The recent fall in oil prices due to banking jitters is speculative and oil will hit $140 a barrel by the end of the year, hedge fund manager Pierr ...
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- Bahari Cakrawala Sebuku - Indonesia
- Economic Council, Georgia
- Kepco SPC Power Corporation, Philippines
- Star Paper Mills Limited - India
- Oldendorff Carriers - Singapore
- New Zealand Coal & Carbon
- Lanco Infratech Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Therma Luzon, Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- Mintek Dendrill Indonesia
- Siam City Cement - Thailand
- Timah Investasi Mineral - Indoneisa
- Indo Tambangraya Megah - Indonesia
- London Commodity Brokers - England
- Kobexindo Tractors - Indoneisa
- Kideco Jaya Agung - Indonesia
- The University of Queensland
- Sinarmas Energy and Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Kaltim Prima Coal - Indonesia
- Interocean Group of Companies - India
- Coastal Gujarat Power Limited - India
- Iligan Light & Power Inc, Philippines
- Wood Mackenzie - Singapore
- Makarim & Taira - Indonesia
- Africa Commodities Group - South Africa
- Grasim Industreis Ltd - India
- Global Coal Blending Company Limited - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Alfred C Toepfer International GmbH - Germany
- Bukit Baiduri Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Metalloyd Limited - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- Kohat Cement Company Ltd. - Pakistan
- SMG Consultants - Indonesia
- Indian Oil Corporation Limited
- Attock Cement Pakistan Limited
- Thiess Contractors Indonesia
- Energy Development Corp, Philippines
- Manunggal Multi Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Toyota Tsusho Corporation, Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indika Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- VISA Power Limited - India
- Sical Logistics Limited - India
- Deloitte Consulting - India
- LBH Netherlands Bv - Netherlands
- Binh Thuan Hamico - Vietnam
- Mjunction Services Limited - India
- Latin American Coal - Colombia
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement PLC, Thailand
- India Bulls Power Limited - India
- Petron Corporation, Philippines
- Larsen & Toubro Limited - India
- Bharathi Cement Corporation - India
- Bayan Resources Tbk. - Indonesia
- Bhatia International Limited - India
- Karaikal Port Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Banpu Public Company Limited - Thailand
- Cement Manufacturers Association - India
- Maharashtra Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- CNBM International Corporation - China
- Borneo Indobara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Ministry of Transport, Egypt
- Altura Mining Limited, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Madhucon Powers Ltd - India
- PTC India Limited - India
- Indogreen Group - Indonesia
- IEA Clean Coal Centre - UK
- GAC Shipping (India) Pvt Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Indian Energy Exchange, India
- Carbofer General Trading SA - India
- Commonwealth Bank - Australia
- Karbindo Abesyapradhi - Indoneisa
- PowerSource Philippines DevCo
- SN Aboitiz Power Inc, Philippines
- Medco Energi Mining Internasional
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ambuja Cements Ltd - India
- Ministry of Finance - Indonesia
- Tamil Nadu electricity Board
- IHS Mccloskey Coal Group - USA
- Videocon Industries ltd - India
- Standard Chartered Bank - UAE
- Gujarat Mineral Development Corp Ltd - India
- Global Business Power Corporation, Philippines
- Indonesian Coal Mining Association
- Samtan Co., Ltd - South Korea
- PNOC Exploration Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Xindia Steels Limited - India
- Kumho Petrochemical, South Korea
- Goldman Sachs - Singapore
- Krishnapatnam Port Company Ltd. - India
- Electricity Authority, New Zealand
- Parry Sugars Refinery, India
- Electricity Generating Authority of Thailand
- Merrill Lynch Commodities Europe
- Minerals Council of Australia
- Antam Resourcindo - Indonesia
- Bhoruka Overseas - Indonesia
- Sindya Power Generating Company Private Ltd
- Power Finance Corporation Ltd., India
- Central Java Power - Indonesia
- Sarangani Energy Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Central Electricity Authority - India
- Coal and Oil Company - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Directorate Of Revenue Intelligence - India
- Vedanta Resources Plc - India
- Gujarat Sidhee Cement - India
- Mercator Lines Limited - India
- Anglo American - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Tata Chemicals Ltd - India
- Riau Bara Harum - Indonesia
- Trasteel International SA, Italy
- SMC Global Power, Philippines
- Independent Power Producers Association of India
- PetroVietnam Power Coal Import and Supply Company
- Edison Trading Spa - Italy
- Coalindo Energy - Indonesia
- The State Trading Corporation of India Ltd
- Directorate General of MIneral and Coal - Indonesia
- Meralco Power Generation, Philippines
- Aditya Birla Group - India
- Heidelberg Cement - Germany
- Wilmar Investment Holdings
- Dalmia Cement Bharat India
- TNB Fuel Sdn Bhd - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- Holcim Trading Pte Ltd - Singapore
- Sakthi Sugars Limited - India
- GMR Energy Limited - India
- Ministry of Mines - Canada
- San Jose City I Power Corp, Philippines
- McConnell Dowell - Australia
- Bukit Makmur.PT - Indonesia
- Orica Australia Pty. Ltd.
- Orica Mining Services - Indonesia
- Romanian Commodities Exchange
- Sree Jayajothi Cements Limited - India
- Posco Energy - South Korea
- Rio Tinto Coal - Australia
- Aboitiz Power Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Chamber of Mines of South Africa
- International Coal Ventures Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- GVK Power & Infra Limited - India
- Agrawal Coal Company - India
- South Luzon Thermal Energy Corporation
- Bulk Trading Sa - Switzerland
- Formosa Plastics Group - Taiwan
- Singapore Mercantile Exchange
- Renaissance Capital - South Africa
- Malabar Cements Ltd - India
- White Energy Company Limited
- Billiton Holdings Pty Ltd - Australia
- ICICI Bank Limited - India
- Bhushan Steel Limited - India
- Georgia Ports Authority, United States
- Miang Besar Coal Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Uttam Galva Steels Limited - India
- Port Waratah Coal Services - Australia
- Jorong Barutama Greston.PT - Indonesia
- Mercuria Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Jindal Steel & Power Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Baramulti Group, Indonesia
- Bangladesh Power Developement Board
- Ind-Barath Power Infra Limited - India
- Eastern Energy - Thailand
- Vizag Seaport Private Limited - India
- Australian Commodity Traders Exchange
- Meenaskhi Energy Private Limited - India
- Semirara Mining Corp, Philippines
- Jaiprakash Power Ventures ltd
- Australian Coal Association
- ASAPP Information Group - India
- AsiaOL BioFuels Corp., Philippines
- MS Steel International - UAE
- Planning Commission, India
- Maheswari Brothers Coal Limited - India
- Parliament of New Zealand
- Intertek Mineral Services - Indonesia
- Simpson Spence & Young - Indonesia
- Thai Mozambique Logistica
- Price Waterhouse Coopers - Russia
- The Treasury - Australian Government
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Marubeni Corporation - India
- Sojitz Corporation - Japan
- Gujarat Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
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