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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, 17 January 23
CHINA'S SHANXI TARGETS 2023 COAL PRODUCTION OF NEARLY 1.37B TONS - XINHUA
China’s coal-rich province of Shanxi has set a coal production target of nearly 1.37 billion metric tons for 2023, according to a government ...
Tuesday, 17 January 23
MARKET INSIGHT - INTERMODAL
Rumor has it that the New Year has come, to set the pace in, for Russia to continue hostilities against Ukraine. Ten months on the go, into Russia& ...
Tuesday, 17 January 23
INDONESIA IS ACCOUNTING FOR 32.3% OF THE GLOBAL SEABORNE COAL MARKET IN 2022 - BENCHERO 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, Benchero ...
Tuesday, 10 January 23
INDONESIAN HBA IS SEEING A SPIKE IN JANUARY 2023 INSTEAD OF A SIGNIFICANT FALL IN DECEMBER 2022
COALspot.com: Indonesian Coal Price Reference up 8.43% in January 2023.
HBA is seeing a dramatic spike in January 2023 i ...
Sunday, 08 January 23
INDIAN COAL POWER PLANTS SHOULD BE COMPENSATED FOR 2022 FORCED GENERATION – REGULATOR : REUTERS
Indian power plants that rely on imported coal should be fully compensated when forced to supply electricity, the country’s power regulator s ...
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- Ambuja Cements Ltd - India
- Baramulti Group, Indonesia
- Coastal Gujarat Power Limited - India
- Mercuria Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Sical Logistics Limited - India
- White Energy Company Limited
- Africa Commodities Group - South Africa
- Globalindo Alam Lestari - Indonesia
- Parry Sugars Refinery, India
- Semirara Mining Corp, Philippines
- Borneo Indobara - Indonesia
- Formosa Plastics Group - Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CIMB Investment Bank - Malaysia
- Georgia Ports Authority, United States
- Sinarmas Energy and Mining - Indonesia
- Bhushan Steel Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Vizag Seaport Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Simpson Spence & Young - Indonesia
- Coal and Oil Company - UAE
- Edison Trading Spa - Italy
- Eastern Energy - Thailand
- Indo Tambangraya Megah - Indonesia
- VISA Power Limited - India
- Orica Australia Pty. Ltd.
- Bangladesh Power Developement Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMC Global Power, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Central Electricity Authority - India
- Coalindo Energy - Indonesia
- Parliament of New Zealand
- Videocon Industries ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Petron Corporation, Philippines
- CNBM International Corporation - China
- India Bulls Power Limited - India
- Power Finance Corporation Ltd., India
- Romanian Commodities Exchange
- Sarangani Energy Corporation, Philippines
- Dalmia Cement Bharat India
- Ind-Barath Power Infra Limited - India
- Commonwealth Bank - Australia
- GMR Energy Limited - India
- Tamil Nadu electricity Board
- Heidelberg Cement - Germany
- Latin American Coal - Colombia
- Meenaskhi Energy Private Limited - India
- Rio Tinto Coal - Australia
- Marubeni Corporation - India
- Vedanta Resources Plc - India
- Anglo American - United Kingdom
- Banpu Public Company Limited - Thailand
- Krishnapatnam Port Company Ltd. - India
- Bhoruka Overseas - Indonesia
- TeaM Sual Corporation - Philippines
- Mjunction Services Limited - India
- Thai Mozambique Logistica
- Bahari Cakrawala Sebuku - Indonesia
- Sakthi Sugars Limited - India
- Indonesian Coal Mining Association
- Straits Asia Resources Limited - Singapore
- PTC India Limited - India
- Independent Power Producers Association of India
- Kartika Selabumi Mining - Indonesia
- Wilmar Investment Holdings
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Planning Commission, India
- Gujarat Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Iligan Light & Power Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Agrawal Coal Company - India
- Jorong Barutama Greston.PT - Indonesia
- Singapore Mercantile Exchange
- Toyota Tsusho Corporation, Japan
- Energy Link Ltd, New Zealand
- Sojitz Corporation - Japan
- GAC Shipping (India) Pvt Ltd
- Chettinad Cement Corporation Ltd - India
- Miang Besar Coal Terminal - Indonesia
- McConnell Dowell - Australia
- Thiess Contractors Indonesia
- Indian Energy Exchange, India
- Posco Energy - South Korea
- PowerSource Philippines DevCo
- Therma Luzon, Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Riau Bara Harum - Indonesia
- Energy Development Corp, Philippines
- Australian Commodity Traders Exchange
- London Commodity Brokers - England
- Jaiprakash Power Ventures ltd
- Kepco SPC Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- AsiaOL BioFuels Corp., Philippines
- Bhatia International Limited - India
- Altura Mining Limited, Indonesia
- Port Waratah Coal Services - Australia
- LBH Netherlands Bv - Netherlands
- The Treasury - Australian Government
- Lanco Infratech Ltd - India
- Kideco Jaya Agung - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMG Consultants - Indonesia
- Barasentosa Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Kumho Petrochemical, South Korea
- Gujarat Mineral Development Corp Ltd - India
- The University of Queensland
- OPG Power Generation Pvt Ltd - India
- Standard Chartered Bank - UAE
- Oldendorff Carriers - Singapore
- Kapuas Tunggal Persada - Indonesia
- PNOC Exploration Corporation - Philippines
- Star Paper Mills Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Larsen & Toubro Limited - India
- Medco Energi Mining Internasional
- Siam City Cement - Thailand
- Global Green Power PLC Corporation, Philippines
- Economic Council, Georgia
- PetroVietnam Power Coal Import and Supply Company
- Electricity Generating Authority of Thailand
- Jindal Steel & Power Ltd - India
- Global Business Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Carbofer General Trading SA - India
- Malabar Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Interocean Group of Companies - India
- Deloitte Consulting - India
- Merrill Lynch Commodities Europe
- Karaikal Port Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Global Coal Blending Company Limited - Australia
- Semirara Mining and Power Corporation, Philippines
- ICICI Bank Limited - India
- IHS Mccloskey Coal Group - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Attock Cement Pakistan Limited
- Siam City Cement PLC, Thailand
- Ministry of Finance - Indonesia
- Antam Resourcindo - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- European Bulk Services B.V. - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- ASAPP Information Group - India
- Binh Thuan Hamico - Vietnam
- Bharathi Cement Corporation - India
- Kaltim Prima Coal - Indonesia
- Wood Mackenzie - Singapore
- Mercator Lines Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- New Zealand Coal & Carbon
- Neyveli Lignite Corporation Ltd, - India
- Meralco Power Generation, Philippines
- International Coal Ventures Pvt Ltd - India
- Goldman Sachs - Singapore
- Price Waterhouse Coopers - Russia
- Uttam Galva Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Maheswari Brothers Coal Limited - India
- Indika Energy - Indonesia
- Makarim & Taira - Indonesia
- Directorate Of Revenue Intelligence - India
- Manunggal Multi Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- Samtan Co., Ltd - South Korea
- Leighton Contractors Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Holcim Trading Pte Ltd - Singapore
- Kobexindo Tractors - Indoneisa
- Aboitiz Power Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Indogreen Group - Indonesia
- Eastern Coal Council - USA
- South Luzon Thermal Energy Corporation
- Trasteel International SA, Italy
- Mintek Dendrill Indonesia
- Central Java Power - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bukit Makmur.PT - Indonesia
- Cement Manufacturers Association - India
- Cigading International Bulk Terminal - Indonesia
- Ministry of Mines - Canada
- The State Trading Corporation of India Ltd
- Aditya Birla Group - India
- Pendopo Energi Batubara - Indonesia
- Indian Oil Corporation Limited
- Essar Steel Hazira Ltd - India
- IEA Clean Coal Centre - UK
- Australian Coal Association
- Tata Chemicals Ltd - India
- Gujarat Sidhee Cement - India
- GVK Power & Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Madhucon Powers Ltd - India
- Electricity Authority, New Zealand
- MS Steel International - UAE
- Savvy Resources Ltd - HongKong
- Directorate General of MIneral and Coal - Indonesia
- Minerals Council of Australia
- Chamber of Mines of South Africa
- Xindia Steels Limited - India
- Grasim Industreis Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
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