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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, 26 February 23
MAWANI AND JEDDAH CHAMBER SIGN AN AGREEMENT TO BUILD INTEGRATED LOGISTICS PARK
Press Release: The Saudi Ports Authority (Mawani) and Jeddah Chamber of Commerce and Industry have today inked an agreement to set up an integrated ...
Saturday, 25 February 23
INDONESIA IS STILL BY FAR THE TOP SUPPLIER OF COAL TO CHINA - 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, said ban ...
Wednesday, 22 February 23
MARKET INSIGHT - INTERMODAL
The short-term outlook of the global soybean market is currently pivoted by a combination of weather patterns that are affecting the harvest progre ...
Saturday, 18 February 23
OIL UNLIKELY TO BREAK ABOVE $100/BBL THIS YEAR, J.P.MORGAN SAYS –- REUTERS
Brent oil prices are unlikely to breach the $100 a barrel level this year, barring any significant geopolitical drivers, with OPEC+ potentially add ...
Saturday, 18 February 23
CHINA'S COAL PRICES FALL TO 1 YR-LOW, CLOUDING DEMAND AND IMPORT OUTLOOK - REUTERS
China’s thermal coal prices hit their lowest levels in a year this week on rising inventories as domestic mine production is recovering faste ...
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- Karbindo Abesyapradhi - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- TeaM Sual Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Sojitz Corporation - Japan
- Semirara Mining Corp, Philippines
- India Bulls Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Posco Energy - South Korea
- Maheswari Brothers Coal Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Carbofer General Trading SA - India
- Alfred C Toepfer International GmbH - Germany
- European Bulk Services B.V. - Netherlands
- Medco Energi Mining Internasional
- TNB Fuel Sdn Bhd - Malaysia
- Star Paper Mills Limited - India
- Attock Cement Pakistan Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Planning Commission, India
- Bulk Trading Sa - Switzerland
- Bhatia International Limited - India
- Makarim & Taira - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Miang Besar Coal Terminal - Indonesia
- Petron Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- SMG Consultants - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bukit Makmur.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Ambuja Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Sindya Power Generating Company Private Ltd
- Holcim Trading Pte Ltd - Singapore
- Barasentosa Lestari - Indonesia
- New Zealand Coal & Carbon
- MS Steel International - UAE
- South Luzon Thermal Energy Corporation
- Metalloyd Limited - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Chamber of Mines of South Africa
- Goldman Sachs - Singapore
- Coastal Gujarat Power Limited - India
- Mintek Dendrill Indonesia
- Coal and Oil Company - UAE
- SMC Global Power, Philippines
- CIMB Investment Bank - Malaysia
- Indian Energy Exchange, India
- Larsen & Toubro Limited - India
- Altura Mining Limited, Indonesia
- Antam Resourcindo - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Singapore Mercantile Exchange
- Deloitte Consulting - India
- Formosa Plastics Group - Taiwan
- Indika Energy - Indonesia
- Orica Australia Pty. Ltd.
- IHS Mccloskey Coal Group - USA
- Xindia Steels Limited - India
- Mercuria Energy - Indonesia
- Romanian Commodities Exchange
- Price Waterhouse Coopers - Russia
- Dalmia Cement Bharat India
- Electricity Generating Authority of Thailand
- Vedanta Resources Plc - India
- Trasteel International SA, Italy
- AsiaOL BioFuels Corp., Philippines
- Baramulti Group, Indonesia
- Intertek Mineral Services - Indonesia
- Ministry of Mines - Canada
- San Jose City I Power Corp, Philippines
- Heidelberg Cement - Germany
- Gujarat Sidhee Cement - India
- Malabar Cements Ltd - India
- Eastern Energy - Thailand
- Indian Oil Corporation Limited
- Sical Logistics Limited - India
- Tata Chemicals Ltd - India
- Georgia Ports Authority, United States
- Meralco Power Generation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Merrill Lynch Commodities Europe
- Bhushan Steel Limited - India
- PNOC Exploration Corporation - Philippines
- Siam City Cement PLC, Thailand
- Coalindo Energy - Indonesia
- Power Finance Corporation Ltd., India
- McConnell Dowell - Australia
- Savvy Resources Ltd - HongKong
- Banpu Public Company Limited - Thailand
- Madhucon Powers Ltd - India
- Therma Luzon, Inc, Philippines
- Essar Steel Hazira Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Latin American Coal - Colombia
- Wilmar Investment Holdings
- Leighton Contractors Pty Ltd - Australia
- Lanco Infratech Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Marubeni Corporation - India
- Aboitiz Power Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- VISA Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Riau Bara Harum - Indonesia
- White Energy Company Limited
- Thiess Contractors Indonesia
- Timah Investasi Mineral - Indoneisa
- Bhoruka Overseas - Indonesia
- Parry Sugars Refinery, India
- Ministry of Finance - Indonesia
- OPG Power Generation Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Kohat Cement Company Ltd. - Pakistan
- Kobexindo Tractors - Indoneisa
- Binh Thuan Hamico - Vietnam
- Ministry of Transport, Egypt
- Central Java Power - Indonesia
- SN Aboitiz Power Inc, Philippines
- Australian Coal Association
- Minerals Council of Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GVK Power & Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- The Treasury - Australian Government
- Jaiprakash Power Ventures ltd
- Karaikal Port Pvt Ltd - India
- Bharathi Cement Corporation - India
- Jindal Steel & Power Ltd - India
- Eastern Coal Council - USA
- Global Green Power PLC Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Bangladesh Power Developement Board
- Maharashtra Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Energy Link Ltd, New Zealand
- Sinarmas Energy and Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Mercator Lines Limited - India
- Tamil Nadu electricity Board
- Sree Jayajothi Cements Limited - India
- The State Trading Corporation of India Ltd
- Kapuas Tunggal Persada - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Aditya Birla Group - India
- Grasim Industreis Ltd - India
- Parliament of New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Sakthi Sugars Limited - India
- Edison Trading Spa - Italy
- The University of Queensland
- IEA Clean Coal Centre - UK
- Central Electricity Authority - India
- Rio Tinto Coal - Australia
- Directorate Of Revenue Intelligence - India
- PTC India Limited - India
- Cigading International Bulk Terminal - Indonesia
- Orica Mining Services - Indonesia
- Electricity Authority, New Zealand
- Africa Commodities Group - South Africa
- Salva Resources Pvt Ltd - India
- London Commodity Brokers - England
- Simpson Spence & Young - Indonesia
- Borneo Indobara - Indonesia
- Standard Chartered Bank - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Energy Development Corp, Philippines
- ICICI Bank Limited - India
- LBH Netherlands Bv - Netherlands
- Economic Council, Georgia
- Thai Mozambique Logistica
- CNBM International Corporation - China
- Billiton Holdings Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Vizag Seaport Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PowerSource Philippines DevCo
- Global Business Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Interocean Group of Companies - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Videocon Industries ltd - India
- Uttam Galva Steels Limited - India
- Anglo American - United Kingdom
- Mjunction Services Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Straits Asia Resources Limited - Singapore
- Independent Power Producers Association of India
- Iligan Light & Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Cement Manufacturers Association - India
- Indo Tambangraya Megah - Indonesia
- Manunggal Multi Energi - Indonesia
- Agrawal Coal Company - India
- Gujarat Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Renaissance Capital - South Africa
- Commonwealth Bank - Australia
- GMR Energy Limited - India
- Indonesian Coal Mining Association
- ASAPP Information Group - India
- Siam City Cement - Thailand
- Kumho Petrochemical, South Korea
- Ind-Barath Power Infra Limited - India
- Australian Commodity Traders Exchange
- GAC Shipping (India) Pvt Ltd
- Indogreen Group - Indonesia
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