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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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Monday, 19 December 22
ENERGY CRISIS FUELS COAL COMEBACK IN GERMANY - REUTERS
Coal has made a comeback in Germany this year, as Europe’s largest economy turns to the dirty fuel to power it through an energy crisis.
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Thursday, 15 December 22
MARKET INSIGHT - INTERMODAL
While observing the ship repair market very close to the end of the year, we are confident that shipyards worldwide are entering a new era. The nex ...
Tuesday, 13 December 22
STRONG COAL PRICES SUPPORT ROBUST EARNINGS AT INDONESIAN COAL MINERS - FITCH RATINGS
Fitch Ratings expects cash flow generation at Indonesian coal miners to remain strong in 2023, based on its forecast for coal prices to remain high ...
Tuesday, 13 December 22
BIMCO CII CLAUSE FINALLY RELEASED: DOES IT MAKE ANY SENSE OF CCI? - WFW
WHAT IS CII?
The new International Maritime Organisation’s (“IMO’s”) Carbon Intensity Indicator (“CII”) cer ...
Tuesday, 13 December 22
COAL BASE RAMPS UP ENERGY SUPPLY FOR WINTER NEEDS - XINHUA
Inner Mongolia Autonomous Region, China’s leading coal production base, has kicked its production into high gear to meet heating needs as col ...
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- Interocean Group of Companies - India
- Simpson Spence & Young - Indonesia
- Bhushan Steel Limited - India
- Africa Commodities Group - South Africa
- Xindia Steels Limited - India
- Posco Energy - South Korea
- Sarangani Energy Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Sindya Power Generating Company Private Ltd
- Marubeni Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Bhatia International Limited - India
- Global Coal Blending Company Limited - Australia
- PNOC Exploration Corporation - Philippines
- Makarim & Taira - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Baramulti Group, Indonesia
- Sical Logistics Limited - India
- Kapuas Tunggal Persada - Indonesia
- Manunggal Multi Energi - Indonesia
- Barasentosa Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Coalindo Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Malabar Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- Electricity Authority, New Zealand
- India Bulls Power Limited - India
- Central Java Power - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Antam Resourcindo - Indonesia
- Dalmia Cement Bharat India
- Indogreen Group - Indonesia
- Kumho Petrochemical, South Korea
- Aboitiz Power Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Bayan Resources Tbk. - Indonesia
- Meralco Power Generation, Philippines
- Uttam Galva Steels Limited - India
- Eastern Energy - Thailand
- OPG Power Generation Pvt Ltd - India
- Trasteel International SA, Italy
- Meenaskhi Energy Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercator Lines Limited - India
- Madhucon Powers Ltd - India
- Medco Energi Mining Internasional
- IHS Mccloskey Coal Group - USA
- ICICI Bank Limited - India
- Iligan Light & Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Therma Luzon, Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Singapore Mercantile Exchange
- Global Green Power PLC Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Latin American Coal - Colombia
- Commonwealth Bank - Australia
- Carbofer General Trading SA - India
- Rashtriya Ispat Nigam Limited - India
- Kobexindo Tractors - Indoneisa
- Indonesian Coal Mining Association
- Kalimantan Lumbung Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Star Paper Mills Limited - India
- The State Trading Corporation of India Ltd
- Port Waratah Coal Services - Australia
- Agrawal Coal Company - India
- Economic Council, Georgia
- Georgia Ports Authority, United States
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Minerals Council of Australia
- Sakthi Sugars Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Orica Australia Pty. Ltd.
- Mintek Dendrill Indonesia
- Price Waterhouse Coopers - Russia
- SMC Global Power, Philippines
- Karaikal Port Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Mines - Canada
- Vedanta Resources Plc - India
- Attock Cement Pakistan Limited
- Merrill Lynch Commodities Europe
- Kaltim Prima Coal - Indonesia
- MS Steel International - UAE
- Rio Tinto Coal - Australia
- Mercuria Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- AsiaOL BioFuels Corp., Philippines
- Timah Investasi Mineral - Indoneisa
- Planning Commission, India
- The University of Queensland
- Videocon Industries ltd - India
- Pendopo Energi Batubara - Indonesia
- Goldman Sachs - Singapore
- Coastal Gujarat Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Borneo Indobara - Indonesia
- Larsen & Toubro Limited - India
- Chamber of Mines of South Africa
- Banpu Public Company Limited - Thailand
- Siam City Cement - Thailand
- Vizag Seaport Private Limited - India
- CIMB Investment Bank - Malaysia
- Essar Steel Hazira Ltd - India
- New Zealand Coal & Carbon
- International Coal Ventures Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Energy Link Ltd, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Sojitz Corporation - Japan
- Formosa Plastics Group - Taiwan
- PowerSource Philippines DevCo
- GMR Energy Limited - India
- Ambuja Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Altura Mining Limited, Indonesia
- Kartika Selabumi Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Standard Chartered Bank - UAE
- Orica Mining Services - Indonesia
- IEA Clean Coal Centre - UK
- Petron Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Riau Bara Harum - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Parry Sugars Refinery, India
- Bhoruka Overseas - Indonesia
- Samtan Co., Ltd - South Korea
- Heidelberg Cement - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thiess Contractors Indonesia
- Jaiprakash Power Ventures ltd
- The Treasury - Australian Government
- Ceylon Electricity Board - Sri Lanka
- Bank of Tokyo Mitsubishi UFJ Ltd
- Grasim Industreis Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tamil Nadu electricity Board
- Kohat Cement Company Ltd. - Pakistan
- SMG Consultants - Indonesia
- Kepco SPC Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Electricity Generating Authority of Thailand
- Ministry of Finance - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Intertek Mineral Services - Indonesia
- Eastern Coal Council - USA
- Wilmar Investment Holdings
- Edison Trading Spa - Italy
- Romanian Commodities Exchange
- Maheswari Brothers Coal Limited - India
- Indian Energy Exchange, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Independent Power Producers Association of India
- ASAPP Information Group - India
- Lanco Infratech Ltd - India
- Anglo American - United Kingdom
- Bangladesh Power Developement Board
- Kideco Jaya Agung - Indonesia
- Indika Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- London Commodity Brokers - England
- Gujarat Sidhee Cement - India
- Jorong Barutama Greston.PT - Indonesia
- Bukit Makmur.PT - Indonesia
- Deloitte Consulting - India
- Energy Development Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Power Finance Corporation Ltd., India
- Ministry of Transport, Egypt
- Mjunction Services Limited - India
- Sinarmas Energy and Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Oldendorff Carriers - Singapore
- CNBM International Corporation - China
- PTC India Limited - India
- Siam City Cement PLC, Thailand
- San Jose City I Power Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Chettinad Cement Corporation Ltd - India
- Indian Oil Corporation Limited
- Bharathi Cement Corporation - India
- Renaissance Capital - South Africa
- Australian Coal Association
- Aditya Birla Group - India
- Central Electricity Authority - India
- Coal and Oil Company - UAE
- Parliament of New Zealand
- GVK Power & Infra Limited - India
- Australian Commodity Traders Exchange
- Semirara Mining and Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- Wood Mackenzie - Singapore
- Thai Mozambique Logistica
- Global Business Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- VISA Power Limited - India
- McConnell Dowell - Australia
- White Energy Company Limited
- Petrochimia International Co. Ltd.- Taiwan
- Directorate Of Revenue Intelligence - India
- Tata Chemicals Ltd - India
- TeaM Sual Corporation - Philippines
- Cement Manufacturers Association - India
- Indo Tambangraya Megah - Indonesia
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