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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, 13 December 22
AUSTRALIA TO CAP PRICES OF COAL, GAS TO DRIVE DOWN ENERGY BILLS - REUTERS
Australia will cap coal and gas prices for a year in a bid to shave utility bills for households and businesses hit by soaring costs because of the ...
Tuesday, 13 December 22
YANCOAL AUSTRALIA TO PREPAY $459 MLN DEBT AS RECORD COAL PRICES BOOST CASHFLOWS - REUTERS
Coal miner Yancoal Australia Ltd. said on Friday it intended to prepay $459 million of its debt on or around Dec. 16, as elevated coal prices were ...
Tuesday, 13 December 22
WHY COAL LEADS THE RISE IN COMMODITIES THIS YEAR - MARKETWATCH
This year marked a resurgence for coal, often known — and loathed — by environmentalists as the dirtiest energy source, with prices mor ...
Thursday, 08 December 22
BIMCO TO REVISE WAR RISK CLAUSES
Work to revise the BIMCO War Cancellation Clause 2004, the BIMCO War Risks Clause for Time Chartering 2013 (CONWARTIME 2013) and the BIMCO War Risk ...
Thursday, 08 December 22
COAL ROYALTY PAYMENTS BOOST AUSTRALIAN STATE'S BUDGET FORECAST - REUTERS
Australia’s Queensland state on Wednesday forecast a record surplus for the current financial year, largely driven by higher royalty payments ...
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- Borneo Indobara - Indonesia
- Eastern Energy - Thailand
- Port Waratah Coal Services - Australia
- Savvy Resources Ltd - HongKong
- CIMB Investment Bank - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- White Energy Company Limited
- Wood Mackenzie - Singapore
- Holcim Trading Pte Ltd - Singapore
- Timah Investasi Mineral - Indoneisa
- Siam City Cement PLC, Thailand
- Directorate Of Revenue Intelligence - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Deloitte Consulting - India
- Salva Resources Pvt Ltd - India
- Carbofer General Trading SA - India
- Coal and Oil Company - UAE
- GN Power Mariveles Coal Plant, Philippines
- Latin American Coal - Colombia
- Karaikal Port Pvt Ltd - India
- Economic Council, Georgia
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Sidhee Cement - India
- Krishnapatnam Port Company Ltd. - India
- Mjunction Services Limited - India
- PTC India Limited - India
- Straits Asia Resources Limited - Singapore
- Energy Link Ltd, New Zealand
- PNOC Exploration Corporation - Philippines
- Georgia Ports Authority, United States
- Samtan Co., Ltd - South Korea
- Simpson Spence & Young - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- IEA Clean Coal Centre - UK
- Kapuas Tunggal Persada - Indonesia
- Meralco Power Generation, Philippines
- Binh Thuan Hamico - Vietnam
- Xindia Steels Limited - India
- MS Steel International - UAE
- Planning Commission, India
- Vedanta Resources Plc - India
- Commonwealth Bank - Australia
- Merrill Lynch Commodities Europe
- Central Java Power - Indonesia
- ASAPP Information Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Sakthi Sugars Limited - India
- Interocean Group of Companies - India
- Kaltim Prima Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Africa Commodities Group - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Agrawal Coal Company - India
- Kartika Selabumi Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- SMC Global Power, Philippines
- Intertek Mineral Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Rio Tinto Coal - Australia
- Bhatia International Limited - India
- Thai Mozambique Logistica
- Jorong Barutama Greston.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Sinarmas Energy and Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- GMR Energy Limited - India
- Therma Luzon, Inc, Philippines
- Siam City Cement - Thailand
- Indogreen Group - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The University of Queensland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Finance - Indonesia
- PowerSource Philippines DevCo
- GAC Shipping (India) Pvt Ltd
- Kohat Cement Company Ltd. - Pakistan
- Indo Tambangraya Megah - Indonesia
- Mercator Lines Limited - India
- Riau Bara Harum - Indonesia
- Bukit Makmur.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Parliament of New Zealand
- The Treasury - Australian Government
- Australian Coal Association
- Bayan Resources Tbk. - Indonesia
- Banpu Public Company Limited - Thailand
- Malabar Cements Ltd - India
- Goldman Sachs - Singapore
- Orica Australia Pty. Ltd.
- Marubeni Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- Manunggal Multi Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- San Jose City I Power Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Electricity Generating Authority of Thailand
- London Commodity Brokers - England
- Uttam Galva Steels Limited - India
- Standard Chartered Bank - UAE
- Mercuria Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Aboitiz Power Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Chettinad Cement Corporation Ltd - India
- Eastern Coal Council - USA
- Petron Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- McConnell Dowell - Australia
- Semirara Mining Corp, Philippines
- Barasentosa Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Anglo American - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Altura Mining Limited, Indonesia
- ICICI Bank Limited - India
- Ambuja Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- VISA Power Limited - India
- New Zealand Coal & Carbon
- Edison Trading Spa - Italy
- Indika Energy - Indonesia
- Mintek Dendrill Indonesia
- Global Business Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Essar Steel Hazira Ltd - India
- Jindal Steel & Power Ltd - India
- Bulk Trading Sa - Switzerland
- Global Coal Blending Company Limited - Australia
- Sical Logistics Limited - India
- Indian Energy Exchange, India
- Price Waterhouse Coopers - Russia
- Ind-Barath Power Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Videocon Industries ltd - India
- Bangladesh Power Developement Board
- AsiaOL BioFuels Corp., Philippines
- Maharashtra Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Parry Sugars Refinery, India
- Bukit Baiduri Energy - Indonesia
- Indonesian Coal Mining Association
- Leighton Contractors Pty Ltd - Australia
- Aditya Birla Group - India
- Miang Besar Coal Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Oil Corporation Limited
- Jaiprakash Power Ventures ltd
- Alfred C Toepfer International GmbH - Germany
- Energy Development Corp, Philippines
- Coastal Gujarat Power Limited - India
- Australian Commodity Traders Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Oldendorff Carriers - Singapore
- OPG Power Generation Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Bhushan Steel Limited - India
- Bhoruka Overseas - Indonesia
- Romanian Commodities Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Authority, New Zealand
- IHS Mccloskey Coal Group - USA
- Chamber of Mines of South Africa
- Wilmar Investment Holdings
- Posco Energy - South Korea
- Antam Resourcindo - Indonesia
- Heidelberg Cement - Germany
- Central Electricity Authority - India
- Kideco Jaya Agung - Indonesia
- Ministry of Mines - Canada
- Kumho Petrochemical, South Korea
- Singapore Mercantile Exchange
- Medco Energi Mining Internasional
- Lanco Infratech Ltd - India
- Sojitz Corporation - Japan
- South Luzon Thermal Energy Corporation
- GVK Power & Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Globalindo Alam Lestari - Indonesia
- Makarim & Taira - Indonesia
- Sarangani Energy Corporation, Philippines
- Dalmia Cement Bharat India
- SMG Consultants - Indonesia
- Cement Manufacturers Association - India
- Baramulti Group, Indonesia
- Renaissance Capital - South Africa
- Gujarat Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- Ministry of Transport, Egypt
- Trasteel International SA, Italy
- Power Finance Corporation Ltd., India
- Madhucon Powers Ltd - India
- Independent Power Producers Association of India
- Grasim Industreis Ltd - India
- Tata Chemicals Ltd - India
- Star Paper Mills Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Vizag Seaport Private Limited - India
- Bharathi Cement Corporation - India
- Maheswari Brothers Coal Limited - India
- Minerals Council of Australia
- CNBM International Corporation - China
- TeaM Sual Corporation - Philippines
- Larsen & Toubro Limited - India
- Iligan Light & Power Inc, Philippines
- India Bulls Power Limited - India
- The State Trading Corporation of India Ltd
- Tamil Nadu electricity Board
- Global Green Power PLC Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Thiess Contractors Indonesia
- Sindya Power Generating Company Private Ltd
- Attock Cement Pakistan Limited
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