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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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Friday, 04 November 22
CHINA EXPANDS COAL TERM CONTRACTS TO ALL MINES TO STABILIZE MARKET - REUTERS
China has expanded long-term thermal coal supply contracts for 2023 to all coal mines and asked power utilities to source more of their demand thro ...
Thursday, 03 November 22
HANDYSIZE VALUES MOVING UP IN OCTOBER, WHILE LNG VALUES SKYROCKET - VESSELSVALUE
Handysize values have increased this month across most ages, following a period of decline. Values for generic 10 year old Handysizes have moved up ...
Thursday, 03 November 22
EUROPEAN GAS SUPPLY SURPLUS, NOVEMBER HBA DOWN TO US$ 308.2 PER TON - ESDM
European gas supply conditions have a major influence in determining fluctuations in the Reference Coal Price (HBA). The November 2022 HBA recorded ...
Wednesday, 02 November 22
MARKET INSIGHT - INTERMODAL
Only five weeks before western sanctions’ full effect, uncertainty over energy has markets and governments on the edge. What was initially th ...
Tuesday, 01 November 22
CHINA COAL TRADE DISRUPTED BY COVID OUTBREAKS AS WINTER LOOMS - REUTERS
China’s strict COVID-19 policy is constraining coal supplies and pushing up prices, industry officials and traders say, just weeks before the ...
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- Cigading International Bulk Terminal - Indonesia
- Aditya Birla Group - India
- Romanian Commodities Exchange
- GAC Shipping (India) Pvt Ltd
- Edison Trading Spa - Italy
- The Treasury - Australian Government
- Aboitiz Power Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Wilmar Investment Holdings
- Meenaskhi Energy Private Limited - India
- Siam City Cement - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Singapore Mercantile Exchange
- Independent Power Producers Association of India
- White Energy Company Limited
- Coalindo Energy - Indonesia
- Eastern Energy - Thailand
- Bharathi Cement Corporation - India
- Interocean Group of Companies - India
- Maharashtra Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Bayan Resources Tbk. - Indonesia
- Maheswari Brothers Coal Limited - India
- Indonesian Coal Mining Association
- PowerSource Philippines DevCo
- Vijayanagar Sugar Pvt Ltd - India
- Vedanta Resources Plc - India
- Price Waterhouse Coopers - Russia
- Bukit Asam (Persero) Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- SMG Consultants - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Miang Besar Coal Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Parliament of New Zealand
- Rashtriya Ispat Nigam Limited - India
- Intertek Mineral Services - Indonesia
- GVK Power & Infra Limited - India
- Planning Commission, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Formosa Plastics Group - Taiwan
- Dalmia Cement Bharat India
- Makarim & Taira - Indonesia
- Commonwealth Bank - Australia
- Riau Bara Harum - Indonesia
- The State Trading Corporation of India Ltd
- Tata Chemicals Ltd - India
- SMC Global Power, Philippines
- Banpu Public Company Limited - Thailand
- Alfred C Toepfer International GmbH - Germany
- Energy Development Corp, Philippines
- Siam City Cement PLC, Thailand
- Jaiprakash Power Ventures ltd
- Sakthi Sugars Limited - India
- Ministry of Mines - Canada
- Cement Manufacturers Association - India
- Wood Mackenzie - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Antam Resourcindo - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Sojitz Corporation - Japan
- London Commodity Brokers - England
- Gujarat Sidhee Cement - India
- Bulk Trading Sa - Switzerland
- Asmin Koalindo Tuhup - Indonesia
- Oldendorff Carriers - Singapore
- Trasteel International SA, Italy
- Karaikal Port Pvt Ltd - India
- Bhatia International Limited - India
- International Coal Ventures Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Gujarat Mineral Development Corp Ltd - India
- Kideco Jaya Agung - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bhoruka Overseas - Indonesia
- San Jose City I Power Corp, Philippines
- PTC India Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kartika Selabumi Mining - Indonesia
- ASAPP Information Group - India
- Semirara Mining Corp, Philippines
- Lanco Infratech Ltd - India
- CNBM International Corporation - China
- Economic Council, Georgia
- Kaltim Prima Coal - Indonesia
- Rio Tinto Coal - Australia
- Manunggal Multi Energi - Indonesia
- Vizag Seaport Private Limited - India
- Madhucon Powers Ltd - India
- Marubeni Corporation - India
- Ambuja Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Link Ltd, New Zealand
- Port Waratah Coal Services - Australia
- Orica Mining Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Eastern Coal Council - USA
- Grasim Industreis Ltd - India
- Global Green Power PLC Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Metalloyd Limited - United Kingdom
- Toyota Tsusho Corporation, Japan
- Essar Steel Hazira Ltd - India
- TeaM Sual Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Global Business Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Australian Coal Association
- New Zealand Coal & Carbon
- ICICI Bank Limited - India
- Sinarmas Energy and Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Therma Luzon, Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Central Electricity Authority - India
- India Bulls Power Limited - India
- Salva Resources Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Ministry of Transport, Egypt
- Semirara Mining and Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Baiduri Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- The University of Queensland
- Billiton Holdings Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- Thai Mozambique Logistica
- Merrill Lynch Commodities Europe
- Africa Commodities Group - South Africa
- Uttam Galva Steels Limited - India
- Sarangani Energy Corporation, Philippines
- Indian Energy Exchange, India
- Altura Mining Limited, Indonesia
- Meralco Power Generation, Philippines
- Straits Asia Resources Limited - Singapore
- Thiess Contractors Indonesia
- Attock Cement Pakistan Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- European Bulk Services B.V. - Netherlands
- Malabar Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- GMR Energy Limited - India
- Holcim Trading Pte Ltd - Singapore
- Baramulti Group, Indonesia
- Sindya Power Generating Company Private Ltd
- Indogreen Group - Indonesia
- Savvy Resources Ltd - HongKong
- Goldman Sachs - Singapore
- Petron Corporation, Philippines
- Electricity Authority, New Zealand
- Anglo American - United Kingdom
- Mintek Dendrill Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Mjunction Services Limited - India
- Star Paper Mills Limited - India
- Latin American Coal - Colombia
- Ceylon Electricity Board - Sri Lanka
- Borneo Indobara - Indonesia
- Bangladesh Power Developement Board
- Deloitte Consulting - India
- Indika Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Generating Authority of Thailand
- Samtan Co., Ltd - South Korea
- Pendopo Energi Batubara - Indonesia
- Chamber of Mines of South Africa
- Central Java Power - Indonesia
- Indian Oil Corporation Limited
- Kepco SPC Power Corporation, Philippines
- Bhushan Steel Limited - India
- Carbofer General Trading SA - India
- LBH Netherlands Bv - Netherlands
- Directorate Of Revenue Intelligence - India
- Larsen & Toubro Limited - India
- Orica Australia Pty. Ltd.
- Coal and Oil Company - UAE
- Agrawal Coal Company - India
- Petrochimia International Co. Ltd.- Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- Heidelberg Cement - Germany
- Jorong Barutama Greston.PT - Indonesia
- Parry Sugars Refinery, India
- Chettinad Cement Corporation Ltd - India
- Sical Logistics Limited - India
- Ministry of Finance - Indonesia
- IEA Clean Coal Centre - UK
- Renaissance Capital - South Africa
- Videocon Industries ltd - India
- Gujarat Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- MS Steel International - UAE
- Standard Chartered Bank - UAE
- Ind-Barath Power Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Mercuria Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Minerals Council of Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Coastal Gujarat Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Barasentosa Lestari - Indonesia
- Tamil Nadu electricity Board
- Mercator Lines Limited - India
- Xindia Steels Limited - India
- McConnell Dowell - Australia
- Posco Energy - South Korea
- Kumho Petrochemical, South Korea
- Power Finance Corporation Ltd., India
- Medco Energi Mining Internasional
- PNOC Exploration Corporation - Philippines
- Georgia Ports Authority, United States
- VISA Power Limited - India
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