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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, 18 February 23
PAKISTAN PLANS TO QUADRUPLE DOMESTIC COAL-FIRED POWER, MOVE AWAY FROM GAS - REUTERS
Pakistan plans to quadruple its domestic coal-fired capacity to reduce power generation costs and will not build new gas-fired plants in the coming ...
Saturday, 18 February 23
2023 MARINE FUEL MARKET PREDICTIONS - JOHN BERGMAN, AURAMARINE
The drive for decarbonisation we witnessed in 2022 has continued into 2023, demonstrating the shipping’s industry positive strides in the fas ...
Saturday, 28 January 23
COAL GROWTH BLIP NOT TO BE REPEATED - BALTIC EXCHANGE
As 2022 drew to a close, global coal demand looked set to end the year just 1.2% up on the previous year. But that small increase was enough to pus ...
Thursday, 26 January 23
CHINA'S COAL OUTPUT INCREASES IN DECEMBER 2022 - XINHUA
China’s raw coal output posted stable expansion in December 2022, official data showed.
The country produced 400 million tonne ...
Thursday, 26 January 23
COKING COAL NARROWS THE GAP ON THERMAL AS CHINA REOPENS - REUTERS
The premium of high-grade thermal coal over coking coal in Asia is shrinking as China’s re-opening and ending of a ban on imports from Austra ...
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- SMC Global Power, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Indian Oil Corporation Limited
- Sojitz Corporation - Japan
- Grasim Industreis Ltd - India
- Timah Investasi Mineral - Indoneisa
- Ministry of Transport, Egypt
- Energy Link Ltd, New Zealand
- Mercuria Energy - Indonesia
- SMG Consultants - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Karbindo Abesyapradhi - Indoneisa
- VISA Power Limited - India
- Bangladesh Power Developement Board
- Metalloyd Limited - United Kingdom
- Simpson Spence & Young - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Heidelberg Cement - Germany
- Trasteel International SA, Italy
- Parry Sugars Refinery, India
- Bayan Resources Tbk. - Indonesia
- Siam City Cement PLC, Thailand
- Binh Thuan Hamico - Vietnam
- Sical Logistics Limited - India
- Vizag Seaport Private Limited - India
- Barasentosa Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Central Java Power - Indonesia
- Meenaskhi Energy Private Limited - India
- Larsen & Toubro Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhoruka Overseas - Indonesia
- Semirara Mining Corp, Philippines
- Merrill Lynch Commodities Europe
- Energy Development Corp, Philippines
- Ministry of Finance - Indonesia
- European Bulk Services B.V. - Netherlands
- Ind-Barath Power Infra Limited - India
- Formosa Plastics Group - Taiwan
- Petrochimia International Co. Ltd.- Taiwan
- Cement Manufacturers Association - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Kepco SPC Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Chamber of Mines of South Africa
- Oldendorff Carriers - Singapore
- Baramulti Group, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Renaissance Capital - South Africa
- Rio Tinto Coal - Australia
- Mjunction Services Limited - India
- CNBM International Corporation - China
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Africa Commodities Group - South Africa
- Australian Coal Association
- Power Finance Corporation Ltd., India
- Xindia Steels Limited - India
- Independent Power Producers Association of India
- Vedanta Resources Plc - India
- Directorate General of MIneral and Coal - Indonesia
- The State Trading Corporation of India Ltd
- Chettinad Cement Corporation Ltd - India
- Ministry of Mines - Canada
- Coal and Oil Company - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IHS Mccloskey Coal Group - USA
- Mercator Lines Limited - India
- Altura Mining Limited, Indonesia
- Mintek Dendrill Indonesia
- ASAPP Information Group - India
- PTC India Limited - India
- Uttam Galva Steels Limited - India
- Savvy Resources Ltd - HongKong
- Eastern Coal Council - USA
- Electricity Generating Authority of Thailand
- Borneo Indobara - Indonesia
- Videocon Industries ltd - India
- Thiess Contractors Indonesia
- Coastal Gujarat Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Cigading International Bulk Terminal - Indonesia
- Bharathi Cement Corporation - India
- Kapuas Tunggal Persada - Indonesia
- McConnell Dowell - Australia
- ICICI Bank Limited - India
- San Jose City I Power Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Carbofer General Trading SA - India
- Attock Cement Pakistan Limited
- Singapore Mercantile Exchange
- Kohat Cement Company Ltd. - Pakistan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pendopo Energi Batubara - Indonesia
- Jindal Steel & Power Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Karaikal Port Pvt Ltd - India
- Indonesian Coal Mining Association
- White Energy Company Limited
- Sindya Power Generating Company Private Ltd
- Wood Mackenzie - Singapore
- Aditya Birla Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- Rashtriya Ispat Nigam Limited - India
- Banpu Public Company Limited - Thailand
- Siam City Cement - Thailand
- Maheswari Brothers Coal Limited - India
- Georgia Ports Authority, United States
- Electricity Authority, New Zealand
- OPG Power Generation Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Asmin Koalindo Tuhup - Indonesia
- Aboitiz Power Corporation - Philippines
- London Commodity Brokers - England
- Iligan Light & Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- Eastern Energy - Thailand
- Edison Trading Spa - Italy
- Petron Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Parliament of New Zealand
- Medco Energi Mining Internasional
- Sarangani Energy Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Lanco Infratech Ltd - India
- Antam Resourcindo - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Sakthi Sugars Limited - India
- Toyota Tsusho Corporation, Japan
- Indogreen Group - Indonesia
- GMR Energy Limited - India
- Romanian Commodities Exchange
- Malabar Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhushan Steel Limited - India
- Indo Tambangraya Megah - Indonesia
- New Zealand Coal & Carbon
- Neyveli Lignite Corporation Ltd, - India
- The Treasury - Australian Government
- Bhatia International Limited - India
- Gujarat Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- MS Steel International - UAE
- The University of Queensland
- Therma Luzon, Inc, Philippines
- Dalmia Cement Bharat India
- Australian Commodity Traders Exchange
- PNOC Exploration Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- Indika Energy - Indonesia
- Goldman Sachs - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Star Paper Mills Limited - India
- Latin American Coal - Colombia
- TeaM Sual Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Krishnapatnam Port Company Ltd. - India
- Global Business Power Corporation, Philippines
- Economic Council, Georgia
- Bulk Trading Sa - Switzerland
- Coalindo Energy - Indonesia
- Port Waratah Coal Services - Australia
- Salva Resources Pvt Ltd - India
- India Bulls Power Limited - India
- Straits Asia Resources Limited - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Indian Energy Exchange, India
- Makarim & Taira - Indonesia
- Ambuja Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- GVK Power & Infra Limited - India
- Kumho Petrochemical, South Korea
- Manunggal Multi Energi - Indonesia
- Thai Mozambique Logistica
- Kartika Selabumi Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Global Green Power PLC Corporation, Philippines
- Tata Chemicals Ltd - India
- Wilmar Investment Holdings
- Samtan Co., Ltd - South Korea
- Globalindo Alam Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Sree Jayajothi Cements Limited - India
- Posco Energy - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Central Electricity Authority - India
- Commonwealth Bank - Australia
- Interocean Group of Companies - India
- Planning Commission, India
- Orica Mining Services - Indonesia
- Agrawal Coal Company - India
- TNB Fuel Sdn Bhd - Malaysia
- Anglo American - United Kingdom
- IEA Clean Coal Centre - UK
- Orica Australia Pty. Ltd.
- Minerals Council of Australia
- Gujarat Mineral Development Corp Ltd - India
- Tamil Nadu electricity Board
- Standard Chartered Bank - UAE
- Marubeni Corporation - India
- Madhucon Powers Ltd - India
- PowerSource Philippines DevCo
- Deloitte Consulting - India
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