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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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- Indonesian Coal Mining Association
- Coal and Oil Company - UAE
- Marubeni Corporation - India
- Timah Investasi Mineral - Indoneisa
- Kumho Petrochemical, South Korea
- Chamber of Mines of South Africa
- Jindal Steel & Power Ltd - India
- The University of Queensland
- Romanian Commodities Exchange
- Kapuas Tunggal Persada - Indonesia
- Electricity Authority, New Zealand
- International Coal Ventures Pvt Ltd - India
- Indika Energy - Indonesia
- Videocon Industries ltd - India
- Edison Trading Spa - Italy
- Bayan Resources Tbk. - Indonesia
- Meralco Power Generation, Philippines
- PNOC Exploration Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Posco Energy - South Korea
- Antam Resourcindo - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Renaissance Capital - South Africa
- Globalindo Alam Lestari - Indonesia
- ICICI Bank Limited - India
- Sical Logistics Limited - India
- SN Aboitiz Power Inc, Philippines
- VISA Power Limited - India
- Georgia Ports Authority, United States
- Medco Energi Mining Internasional
- Mintek Dendrill Indonesia
- Trasteel International SA, Italy
- Port Waratah Coal Services - Australia
- Indian Energy Exchange, India
- GAC Shipping (India) Pvt Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Mines - Canada
- Formosa Plastics Group - Taiwan
- Anglo American - United Kingdom
- Malabar Cements Ltd - India
- Uttam Galva Steels Limited - India
- Lanco Infratech Ltd - India
- European Bulk Services B.V. - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Kideco Jaya Agung - Indonesia
- Intertek Mineral Services - Indonesia
- Eastern Coal Council - USA
- Sakthi Sugars Limited - India
- Central Electricity Authority - India
- Kohat Cement Company Ltd. - Pakistan
- Attock Cement Pakistan Limited
- Cement Manufacturers Association - India
- Manunggal Multi Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Oldendorff Carriers - Singapore
- Ceylon Electricity Board - Sri Lanka
- Leighton Contractors Pty Ltd - Australia
- Africa Commodities Group - South Africa
- Orica Mining Services - Indonesia
- Australian Commodity Traders Exchange
- Jaiprakash Power Ventures ltd
- Gujarat Sidhee Cement - India
- Bangladesh Power Developement Board
- Karaikal Port Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Sojitz Corporation - Japan
- Larsen & Toubro Limited - India
- Madhucon Powers Ltd - India
- Essar Steel Hazira Ltd - India
- Siam City Cement - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Goldman Sachs - Singapore
- Sree Jayajothi Cements Limited - India
- White Energy Company Limited
- Coalindo Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Indogreen Group - Indonesia
- OPG Power Generation Pvt Ltd - India
- Xindia Steels Limited - India
- Bulk Trading Sa - Switzerland
- TeaM Sual Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Bhushan Steel Limited - India
- Straits Asia Resources Limited - Singapore
- Sarangani Energy Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- The State Trading Corporation of India Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Binh Thuan Hamico - Vietnam
- Global Business Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Grasim Industreis Ltd - India
- Australian Coal Association
- Mercuria Energy - Indonesia
- SMC Global Power, Philippines
- Vizag Seaport Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Independent Power Producers Association of India
- Jorong Barutama Greston.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Central Java Power - Indonesia
- India Bulls Power Limited - India
- Economic Council, Georgia
- Planning Commission, India
- The Treasury - Australian Government
- Therma Luzon, Inc, Philippines
- Wood Mackenzie - Singapore
- Mjunction Services Limited - India
- Meenaskhi Energy Private Limited - India
- CNBM International Corporation - China
- GMR Energy Limited - India
- Ministry of Finance - Indonesia
- Agrawal Coal Company - India
- Deloitte Consulting - India
- Tata Chemicals Ltd - India
- Indian Oil Corporation Limited
- Aditya Birla Group - India
- TNB Fuel Sdn Bhd - Malaysia
- San Jose City I Power Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- Thai Mozambique Logistica
- Sinarmas Energy and Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Global Coal Blending Company Limited - Australia
- Simpson Spence & Young - Indonesia
- Dalmia Cement Bharat India
- Sindya Power Generating Company Private Ltd
- Rashtriya Ispat Nigam Limited - India
- Aboitiz Power Corporation - Philippines
- Parry Sugars Refinery, India
- Metalloyd Limited - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Borneo Indobara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- IEA Clean Coal Centre - UK
- Krishnapatnam Port Company Ltd. - India
- South Luzon Thermal Energy Corporation
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhoruka Overseas - Indonesia
- Altura Mining Limited, Indonesia
- Tamil Nadu electricity Board
- Bahari Cakrawala Sebuku - Indonesia
- Banpu Public Company Limited - Thailand
- Singapore Mercantile Exchange
- Bhatia International Limited - India
- Rio Tinto Coal - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Kartika Selabumi Mining - Indonesia
- Petron Corporation, Philippines
- Vedanta Resources Plc - India
- Siam City Cement PLC, Thailand
- Eastern Energy - Thailand
- GVK Power & Infra Limited - India
- New Zealand Coal & Carbon
- Mercator Lines Limited - India
- Gujarat Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Makarim & Taira - Indonesia
- Energy Link Ltd, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Interocean Group of Companies - India
- London Commodity Brokers - England
- PTC India Limited - India
- Semirara Mining and Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- LBH Netherlands Bv - Netherlands
- Thiess Contractors Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Iligan Light & Power Inc, Philippines
- Power Finance Corporation Ltd., India
- SMG Consultants - Indonesia
- Star Paper Mills Limited - India
- Commonwealth Bank - Australia
- Ministry of Transport, Egypt
- Latin American Coal - Colombia
- CIMB Investment Bank - Malaysia
- Chettinad Cement Corporation Ltd - India
- Energy Development Corp, Philippines
- MS Steel International - UAE
- Electricity Generating Authority of Thailand
- Directorate Of Revenue Intelligence - India
- McConnell Dowell - Australia
- Bukit Makmur.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Coastal Gujarat Power Limited - India
- Parliament of New Zealand
- Global Green Power PLC Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Wilmar Investment Holdings
- Standard Chartered Bank - UAE
- ASAPP Information Group - India
- Ambuja Cements Ltd - India
- Bharathi Cement Corporation - India
- Pendopo Energi Batubara - Indonesia
- IHS Mccloskey Coal Group - USA
- PowerSource Philippines DevCo
- Kaltim Prima Coal - Indonesia
- Semirara Mining Corp, Philippines
- Carbofer General Trading SA - India
- Orica Australia Pty. Ltd.
- Minerals Council of Australia
- Heidelberg Cement - Germany
- Baramulti Group, Indonesia
- Savvy Resources Ltd - HongKong
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