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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, 08 January 23
ELEVATED COAL PRICE A DRAG ON MARGINS OF DOMESTIC BASE METAL PLAYERS: ICRA
The increased price of coal continue to be a drag on the margin of domestic base metal players with no immediate relief in sight, rating agency ICR ...
Monday, 02 January 23
CHINA’S COAL CONSUMPTION TO PEAK BY 2035: REPORT - REUTERS
China’s primary energy consumption is likely to peak at nearly 6.03 billion tonnes of standard coal between 2030 and 2035, refining giant Chi ...
Thursday, 29 December 22
INDIA'S COAL DEMAND LIKELY TO PEAK BETWEEN 2030-2035: MINISTER - ANI
The demand for coal in India will continue and is likely to peak between 2030-2035, Union Minister of Coal, Mines, and Parliamentary Affairs Pralha ...
Thursday, 29 December 22
RIO TINTO AND PARTNERS COULD RECEIVE AS MUCH AS $450M IN GOVERNMENT COMPENSATION FOR COAL PRICE CAP - THE GUARDIAN
Compensation payments for the Gladstone power plant remain the sticking point in the federal government’s coal price cap compensation negotia ...
Wednesday, 28 December 22
MARKET INSIGHT - INTERMODAL
The United Nations Conference on Trade and Development (UNCTAD) published a Global Trade Update on December 13th highlighting that global trade wou ...
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- New Zealand Coal & Carbon
- Offshore Bulk Terminal Pte Ltd, Singapore
- LBH Netherlands Bv - Netherlands
- Energy Development Corp, Philippines
- CNBM International Corporation - China
- Madhucon Powers Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Anglo American - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- The Treasury - Australian Government
- Bhatia International Limited - India
- Commonwealth Bank - Australia
- Medco Energi Mining Internasional
- Coalindo Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Indika Energy - Indonesia
- Cement Manufacturers Association - India
- Sical Logistics Limited - India
- TeaM Sual Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Posco Energy - South Korea
- IHS Mccloskey Coal Group - USA
- Directorate General of MIneral and Coal - Indonesia
- Malabar Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Gujarat Mineral Development Corp Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petron Corporation, Philippines
- Star Paper Mills Limited - India
- Sakthi Sugars Limited - India
- Borneo Indobara - Indonesia
- Attock Cement Pakistan Limited
- Global Coal Blending Company Limited - Australia
- Therma Luzon, Inc, Philippines
- IEA Clean Coal Centre - UK
- ICICI Bank Limited - India
- VISA Power Limited - India
- PowerSource Philippines DevCo
- Videocon Industries ltd - India
- Semirara Mining Corp, Philippines
- London Commodity Brokers - England
- Africa Commodities Group - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Makmur.PT - Indonesia
- Orica Australia Pty. Ltd.
- Energy Link Ltd, New Zealand
- Simpson Spence & Young - Indonesia
- Agrawal Coal Company - India
- Semirara Mining and Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Electricity Authority, New Zealand
- Parliament of New Zealand
- Global Green Power PLC Corporation, Philippines
- Ministry of Transport, Egypt
- Indian Oil Corporation Limited
- TNB Fuel Sdn Bhd - Malaysia
- Jindal Steel & Power Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Riau Bara Harum - Indonesia
- Mercuria Energy - Indonesia
- Ministry of Finance - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Thai Mozambique Logistica
- PetroVietnam Power Coal Import and Supply Company
- Makarim & Taira - Indonesia
- Parry Sugars Refinery, India
- Kapuas Tunggal Persada - Indonesia
- CIMB Investment Bank - Malaysia
- Price Waterhouse Coopers - Russia
- Miang Besar Coal Terminal - Indonesia
- Vizag Seaport Private Limited - India
- Formosa Plastics Group - Taiwan
- Kobexindo Tractors - Indoneisa
- Romanian Commodities Exchange
- Minerals Council of Australia
- Iligan Light & Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Ceylon Electricity Board - Sri Lanka
- SN Aboitiz Power Inc, Philippines
- India Bulls Power Limited - India
- Siam City Cement - Thailand
- GAC Shipping (India) Pvt Ltd
- GVK Power & Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Trasteel International SA, Italy
- International Coal Ventures Pvt Ltd - India
- Dalmia Cement Bharat India
- Timah Investasi Mineral - Indoneisa
- Electricity Generating Authority of Thailand
- Bhoruka Overseas - Indonesia
- Sree Jayajothi Cements Limited - India
- Economic Council, Georgia
- The State Trading Corporation of India Ltd
- Deloitte Consulting - India
- Merrill Lynch Commodities Europe
- Pipit Mutiara Jaya. PT, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Australian Commodity Traders Exchange
- Meenaskhi Energy Private Limited - India
- Singapore Mercantile Exchange
- Karbindo Abesyapradhi - Indoneisa
- Mjunction Services Limited - India
- Ministry of Mines - Canada
- MS Steel International - UAE
- Xindia Steels Limited - India
- Indogreen Group - Indonesia
- Meralco Power Generation, Philippines
- The University of Queensland
- Kohat Cement Company Ltd. - Pakistan
- PNOC Exploration Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Standard Chartered Bank - UAE
- Billiton Holdings Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Independent Power Producers Association of India
- Heidelberg Cement - Germany
- Sinarmas Energy and Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Ambuja Cements Ltd - India
- McConnell Dowell - Australia
- White Energy Company Limited
- Alfred C Toepfer International GmbH - Germany
- Chamber of Mines of South Africa
- Rio Tinto Coal - Australia
- Vedanta Resources Plc - India
- Aboitiz Power Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Pendopo Energi Batubara - Indonesia
- ASAPP Information Group - India
- Bulk Trading Sa - Switzerland
- Orica Mining Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- Indo Tambangraya Megah - Indonesia
- Baramulti Group, Indonesia
- SMC Global Power, Philippines
- Directorate Of Revenue Intelligence - India
- Interocean Group of Companies - India
- Savvy Resources Ltd - HongKong
- Neyveli Lignite Corporation Ltd, - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Coal Council - USA
- Mercator Lines Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Bukit Baiduri Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Indonesian Coal Mining Association
- Global Business Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Gujarat Sidhee Cement - India
- Georgia Ports Authority, United States
- Power Finance Corporation Ltd., India
- Kalimantan Lumbung Energi - Indonesia
- Eastern Energy - Thailand
- Indian Energy Exchange, India
- Wood Mackenzie - Singapore
- Kartika Selabumi Mining - Indonesia
- Planning Commission, India
- Central Electricity Authority - India
- PTC India Limited - India
- Edison Trading Spa - Italy
- South Luzon Thermal Energy Corporation
- Asmin Koalindo Tuhup - Indonesia
- Kideco Jaya Agung - Indonesia
- Kepco SPC Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Oldendorff Carriers - Singapore
- Antam Resourcindo - Indonesia
- Tamil Nadu electricity Board
- Chettinad Cement Corporation Ltd - India
- Maheswari Brothers Coal Limited - India
- Central Java Power - Indonesia
- Tata Chemicals Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sojitz Corporation - Japan
- Siam City Cement PLC, Thailand
- Barasentosa Lestari - Indonesia
- Bangladesh Power Developement Board
- Essar Steel Hazira Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Samtan Co., Ltd - South Korea
- Australian Coal Association
- Banpu Public Company Limited - Thailand
- Lanco Infratech Ltd - India
- GMR Energy Limited - India
- Karaikal Port Pvt Ltd - India
- Goldman Sachs - Singapore
- Salva Resources Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- SMG Consultants - Indonesia
- Kumho Petrochemical, South Korea
- Uttam Galva Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Wilmar Investment Holdings
- Aditya Birla Group - India
- Marubeni Corporation - India
- Larsen & Toubro Limited - India
- Ind-Barath Power Infra Limited - India
- Thiess Contractors Indonesia
- Bharathi Cement Corporation - India
- Carbofer General Trading SA - India
- Latin American Coal - Colombia
- San Jose City I Power Corp, Philippines
- Grasim Industreis Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Renaissance Capital - South Africa
- Bhushan Steel Limited - India
- Coastal Gujarat Power Limited - India
- Port Waratah Coal Services - Australia
- Metalloyd Limited - United Kingdom
- Altura Mining Limited, Indonesia
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