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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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Thursday, 02 March 23
DRY BULK MARKET: THE WAY CHINA GOES, SO GOES THE MARKET - BIMCO
We expect demand growth within the 1.5-2.5% range in 2023, driven by China’s economic recovery. Improvements in consumer sentiment should hel ...
Thursday, 02 March 23
INDIA, CHINA DEMAND BOOST LOW-RANK THERMAL COAL PRICES IN ASIA - RUSSELL, REUTERS
Signs of stronger import demand from India have arrested the decline in price of the thermal coal grades most commonly sought by the world’s ...
Thursday, 02 March 23
INDIA CHEERS THE RETURN OF ‘KING COAL’ AS INDUSTRY SEES BUOYANT FUTURE - REUTERS
India’s coal industry celebrated the return of its major conference after a three-year pandemic hiatus by presenting a bullish view of demand ...
Wednesday, 01 March 23
GEO CONNECT ASIA RETURNS IN MARCH TO ACCELERATE THE REGION’S GEOSPATIAL AND LOCATION INTELLIGENCE CAPABILITIES
Press Release: The third edition of GCA will be held in conjunction with Digital Construction Asia and the inaugural Drones Asia – an event d ...
Wednesday, 01 March 23
THE DECLINE IN THE COAL PRICE SINCE THE BEGINNING OF THE YEAR HAS BEEN SIGNIFICANT - INTERMODAL
Last week, the front-month API2 future rose by 3.5%, but since the beginning of the year the future has fallen by 39% to $136.65/t, while the Newca ...
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- Billiton Holdings Pty Ltd - Australia
- PTC India Limited - India
- Cement Manufacturers Association - India
- Kideco Jaya Agung - Indonesia
- Coastal Gujarat Power Limited - India
- Riau Bara Harum - Indonesia
- Electricity Authority, New Zealand
- Singapore Mercantile Exchange
- Tata Chemicals Ltd - India
- Sarangani Energy Corporation, Philippines
- Edison Trading Spa - Italy
- Bahari Cakrawala Sebuku - Indonesia
- Thai Mozambique Logistica
- Australian Commodity Traders Exchange
- European Bulk Services B.V. - Netherlands
- GMR Energy Limited - India
- Banpu Public Company Limited - Thailand
- Bayan Resources Tbk. - Indonesia
- Kartika Selabumi Mining - Indonesia
- Aditya Birla Group - India
- Borneo Indobara - Indonesia
- Bhoruka Overseas - Indonesia
- Independent Power Producers Association of India
- McConnell Dowell - Australia
- Kapuas Tunggal Persada - Indonesia
- Global Business Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- CNBM International Corporation - China
- IHS Mccloskey Coal Group - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aboitiz Power Corporation - Philippines
- Bharathi Cement Corporation - India
- Indika Energy - Indonesia
- Meralco Power Generation, Philippines
- India Bulls Power Limited - India
- Indonesian Coal Mining Association
- Metalloyd Limited - United Kingdom
- Commonwealth Bank - Australia
- Eastern Coal Council - USA
- Renaissance Capital - South Africa
- Orica Australia Pty. Ltd.
- Manunggal Multi Energi - Indonesia
- Australian Coal Association
- Lanco Infratech Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining Corp, Philippines
- The State Trading Corporation of India Ltd
- Rashtriya Ispat Nigam Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parliament of New Zealand
- Africa Commodities Group - South Africa
- The University of Queensland
- Salva Resources Pvt Ltd - India
- Orica Mining Services - Indonesia
- Carbofer General Trading SA - India
- Intertek Mineral Services - Indonesia
- SMG Consultants - Indonesia
- International Coal Ventures Pvt Ltd - India
- Posco Energy - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Heidelberg Cement - Germany
- Binh Thuan Hamico - Vietnam
- PNOC Exploration Corporation - Philippines
- Energy Link Ltd, New Zealand
- Tamil Nadu electricity Board
- Petron Corporation, Philippines
- Trasteel International SA, Italy
- Antam Resourcindo - Indonesia
- Barasentosa Lestari - Indonesia
- Dalmia Cement Bharat India
- Bangladesh Power Developement Board
- Standard Chartered Bank - UAE
- London Commodity Brokers - England
- Kohat Cement Company Ltd. - Pakistan
- Cigading International Bulk Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Ministry of Finance - Indonesia
- MS Steel International - UAE
- Port Waratah Coal Services - Australia
- LBH Netherlands Bv - Netherlands
- Ind-Barath Power Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Vizag Seaport Private Limited - India
- GVK Power & Infra Limited - India
- Altura Mining Limited, Indonesia
- San Jose City I Power Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Parry Sugars Refinery, India
- South Luzon Thermal Energy Corporation
- Planning Commission, India
- Latin American Coal - Colombia
- Baramulti Group, Indonesia
- Minerals Council of Australia
- Videocon Industries ltd - India
- Thiess Contractors Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- White Energy Company Limited
- Siam City Cement PLC, Thailand
- Central Java Power - Indonesia
- Malabar Cements Ltd - India
- SMC Global Power, Philippines
- Global Coal Blending Company Limited - Australia
- Therma Luzon, Inc, Philippines
- Mercuria Energy - Indonesia
- Sakthi Sugars Limited - India
- Wood Mackenzie - Singapore
- Straits Asia Resources Limited - Singapore
- Mercator Lines Limited - India
- Bhushan Steel Limited - India
- Savvy Resources Ltd - HongKong
- GAC Shipping (India) Pvt Ltd
- Iligan Light & Power Inc, Philippines
- Vedanta Resources Plc - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sical Logistics Limited - India
- Formosa Plastics Group - Taiwan
- Mintek Dendrill Indonesia
- VISA Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Sindya Power Generating Company Private Ltd
- Ministry of Mines - Canada
- Indian Oil Corporation Limited
- Indian Energy Exchange, India
- Alfred C Toepfer International GmbH - Germany
- GN Power Mariveles Coal Plant, Philippines
- Simpson Spence & Young - Indonesia
- Mjunction Services Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Baiduri Energy - Indonesia
- Oldendorff Carriers - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Rio Tinto Coal - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Makarim & Taira - Indonesia
- Chamber of Mines of South Africa
- Kaltim Prima Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sojitz Corporation - Japan
- Medco Energi Mining Internasional
- Madhucon Powers Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Ambuja Cements Ltd - India
- Anglo American - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement - Thailand
- ICICI Bank Limited - India
- Power Finance Corporation Ltd., India
- Miang Besar Coal Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- The Treasury - Australian Government
- Star Paper Mills Limited - India
- Sinarmas Energy and Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- IEA Clean Coal Centre - UK
- Coalindo Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Goldman Sachs - Singapore
- Bhatia International Limited - India
- Global Green Power PLC Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Central Electricity Authority - India
- Gujarat Sidhee Cement - India
- Samtan Co., Ltd - South Korea
- OPG Power Generation Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Merrill Lynch Commodities Europe
- Price Waterhouse Coopers - Russia
- Energy Development Corp, Philippines
- Grasim Industreis Ltd - India
- Attock Cement Pakistan Limited
- Coal and Oil Company - UAE
- Gujarat Electricity Regulatory Commission - India
- Deloitte Consulting - India
- Gujarat Mineral Development Corp Ltd - India
- Jindal Steel & Power Ltd - India
- Wilmar Investment Holdings
- Semirara Mining and Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Ministry of Transport, Egypt
- Karaikal Port Pvt Ltd - India
- Agrawal Coal Company - India
- Marubeni Corporation - India
- Kumho Petrochemical, South Korea
- SN Aboitiz Power Inc, Philippines
- Romanian Commodities Exchange
- Meenaskhi Energy Private Limited - India
- Georgia Ports Authority, United States
- Xindia Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Eastern Energy - Thailand
- Directorate Of Revenue Intelligence - India
- AsiaOL BioFuels Corp., Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Kepco SPC Power Corporation, Philippines
- Indogreen Group - Indonesia
- New Zealand Coal & Carbon
- Economic Council, Georgia
- Globalindo Alam Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- PowerSource Philippines DevCo
- Pendopo Energi Batubara - Indonesia
- Bulk Trading Sa - Switzerland
- Bukit Makmur.PT - Indonesia
- Interocean Group of Companies - India
- Larsen & Toubro Limited - India
- Jaiprakash Power Ventures ltd
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