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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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Wednesday, 07 December 22
MARKET INSIGHT - INTERMODAL
China’s coal imports from January to October were 230.1m mt, a decrease of around 10.7% y-o-y (2021 totalled 323.2m mt). The question is if t ...
Wednesday, 07 December 22
INDIA'S STEEL MINISTRY SEEKS IMPORT TAX WAIVER FOR COKING COAL - SOURCES REUTERS REPORTED
India’s steel ministry has asked the finance ministry for a waiver of import tax on coking coal among a slew of raw materials, as it scramble ...
Tuesday, 06 December 22
INDIA'S COAL PRODUCTION RISES 17% IN APR-NOV PERIOD - PTI
The country’s coal production increased 17 per cent to 524.20 million tonnes in the April-November period of the ongoing fiscal.
...
Tuesday, 06 December 22
INDONESIA AIMS TO STARTS COLLECTING COAL LEVY IN Q1 2023 - MINISTER, REUTERS REPORTED
Indonesia aims to establish a coal fund agency and start collecting a coal levy in the first quarter next year, to help ensure supply security for ...
Saturday, 03 December 22
COMPLEX RUSSIAN PRICE CAP MAKES MARITIME VISIBILITY A MUST - WINDWARD
Many commentators and analysts are speculating about the potential impact the Russian seaborne oil price cap will have on organizations and entitie ...
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- Commonwealth Bank - Australia
- Jaiprakash Power Ventures ltd
- GN Power Mariveles Coal Plant, Philippines
- CIMB Investment Bank - Malaysia
- Power Finance Corporation Ltd., India
- PowerSource Philippines DevCo
- Cigading International Bulk Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- Kepco SPC Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Karaikal Port Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Central Electricity Authority - India
- Australian Commodity Traders Exchange
- Parry Sugars Refinery, India
- European Bulk Services B.V. - Netherlands
- Orica Mining Services - Indonesia
- Antam Resourcindo - Indonesia
- Ministry of Mines - Canada
- Indo Tambangraya Megah - Indonesia
- VISA Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Agrawal Coal Company - India
- Directorate Of Revenue Intelligence - India
- Gujarat Sidhee Cement - India
- Riau Bara Harum - Indonesia
- Medco Energi Mining Internasional
- Bangladesh Power Developement Board
- Chamber of Mines of South Africa
- Tata Chemicals Ltd - India
- Bulk Trading Sa - Switzerland
- Simpson Spence & Young - Indonesia
- IHS Mccloskey Coal Group - USA
- Bahari Cakrawala Sebuku - Indonesia
- Ind-Barath Power Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Tamil Nadu electricity Board
- Uttam Galva Steels Limited - India
- Petron Corporation, Philippines
- Borneo Indobara - Indonesia
- Merrill Lynch Commodities Europe
- Aboitiz Power Corporation - Philippines
- Siam City Cement - Thailand
- Bhatia International Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Formosa Plastics Group - Taiwan
- Kartika Selabumi Mining - Indonesia
- Aditya Birla Group - India
- Leighton Contractors Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GVK Power & Infra Limited - India
- White Energy Company Limited
- LBH Netherlands Bv - Netherlands
- PTC India Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Sakthi Sugars Limited - India
- Eastern Energy - Thailand
- Renaissance Capital - South Africa
- Ambuja Cements Ltd - India
- Georgia Ports Authority, United States
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Meralco Power Generation, Philippines
- Salva Resources Pvt Ltd - India
- Indogreen Group - Indonesia
- Price Waterhouse Coopers - Russia
- Siam City Cement PLC, Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thiess Contractors Indonesia
- Bhoruka Overseas - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Straits Asia Resources Limited - Singapore
- Baramulti Group, Indonesia
- India Bulls Power Limited - India
- Mjunction Services Limited - India
- Sinarmas Energy and Mining - Indonesia
- Parliament of New Zealand
- Sical Logistics Limited - India
- Toyota Tsusho Corporation, Japan
- Madhucon Powers Ltd - India
- Barasentosa Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Kalimantan Lumbung Energi - Indonesia
- London Commodity Brokers - England
- Lanco Infratech Ltd - India
- Oldendorff Carriers - Singapore
- Latin American Coal - Colombia
- Heidelberg Cement - Germany
- Globalindo Alam Lestari - Indonesia
- Indonesian Coal Mining Association
- ASAPP Information Group - India
- SMC Global Power, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Finance - Indonesia
- Interocean Group of Companies - India
- Minerals Council of Australia
- Holcim Trading Pte Ltd - Singapore
- Binh Thuan Hamico - Vietnam
- Global Coal Blending Company Limited - Australia
- Kumho Petrochemical, South Korea
- Miang Besar Coal Terminal - Indonesia
- Videocon Industries ltd - India
- Central Java Power - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Eastern Coal Council - USA
- Timah Investasi Mineral - Indoneisa
- Wood Mackenzie - Singapore
- Singapore Mercantile Exchange
- Semirara Mining and Power Corporation, Philippines
- GMR Energy Limited - India
- Independent Power Producers Association of India
- OPG Power Generation Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Rashtriya Ispat Nigam Limited - India
- Kapuas Tunggal Persada - Indonesia
- Deloitte Consulting - India
- Neyveli Lignite Corporation Ltd, - India
- New Zealand Coal & Carbon
- Thai Mozambique Logistica
- The Treasury - Australian Government
- Manunggal Multi Energi - Indonesia
- Altura Mining Limited, Indonesia
- Global Business Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Intertek Mineral Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Mercator Lines Limited - India
- Ceylon Electricity Board - Sri Lanka
- Ministry of Transport, Egypt
- Cement Manufacturers Association - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Planning Commission, India
- Indika Energy - Indonesia
- SMG Consultants - Indonesia
- Larsen & Toubro Limited - India
- Makarim & Taira - Indonesia
- Star Paper Mills Limited - India
- Meenaskhi Energy Private Limited - India
- Energy Link Ltd, New Zealand
- Standard Chartered Bank - UAE
- Anglo American - United Kingdom
- Kobexindo Tractors - Indoneisa
- McConnell Dowell - Australia
- Indian Oil Corporation Limited
- TNB Fuel Sdn Bhd - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- ICICI Bank Limited - India
- Attock Cement Pakistan Limited
- Electricity Authority, New Zealand
- Iligan Light & Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Sarangani Energy Corporation, Philippines
- Indian Energy Exchange, India
- Carbofer General Trading SA - India
- Africa Commodities Group - South Africa
- Edison Trading Spa - Italy
- Rio Tinto Coal - Australia
- Sree Jayajothi Cements Limited - India
- SN Aboitiz Power Inc, Philippines
- Semirara Mining Corp, Philippines
- Marubeni Corporation - India
- Krishnapatnam Port Company Ltd. - India
- PNOC Exploration Corporation - Philippines
- Wilmar Investment Holdings
- South Luzon Thermal Energy Corporation
- Coastal Gujarat Power Limited - India
- The University of Queensland
- Vedanta Resources Plc - India
- Alfred C Toepfer International GmbH - Germany
- Mercuria Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Essar Steel Hazira Ltd - India
- Coal and Oil Company - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Malabar Cements Ltd - India
- Energy Development Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kohat Cement Company Ltd. - Pakistan
- TeaM Sual Corporation - Philippines
- Romanian Commodities Exchange
- Goldman Sachs - Singapore
- Bharathi Cement Corporation - India
- Economic Council, Georgia
- Coalindo Energy - Indonesia
- MS Steel International - UAE
- Dalmia Cement Bharat India
- Trasteel International SA, Italy
- Kaltim Prima Coal - Indonesia
- Sojitz Corporation - Japan
- Bhushan Steel Limited - India
- Electricity Generating Authority of Thailand
- Vijayanagar Sugar Pvt Ltd - India
- CNBM International Corporation - China
- Jindal Steel & Power Ltd - India
- San Jose City I Power Corp, Philippines
- Australian Coal Association
- Savvy Resources Ltd - HongKong
- Grasim Industreis Ltd - India
- Mintek Dendrill Indonesia
- Xindia Steels Limited - India
- IEA Clean Coal Centre - UK
- Bukit Makmur.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Vizag Seaport Private Limited - India
- Posco Energy - South Korea
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