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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, 31 October 22
U.S. COAL-FIRED GENERATION DECLINING AFTER BRIEF RISE LAST YEAR - EIA
We expect 6% less U.S. coal-fired generation in 2022 than in 2021, according to our latest Short-Term Energy Outlook (STEO). Although coal-fired ge ...
Monday, 31 October 22
CHINA COAL OUTPUT UP 12.3 PCT IN SEPTEMBER - XINHUA
China’s raw coal output posted stable expansion in September, official data showed.
The country produced 390 million tonnes of ...
Wednesday, 26 October 22
BIMCO PUBLISHES UPDATED GENCON CONTRACT
BIMCO has published a revised and updated version GENCON 2022 – one of its flagship contracts within its portfolio of standard contracts for ...
Monday, 24 October 22
KOSPO TO INVITE 400,000 MT OF COAL FOR 3 YEARS
COALspot.com: Korea Southern Power Co., Ltd. (KOSPO) has issued an international tender for 400,000 MT of 3,800 - 4,400kcal/kg NCV and Sulfur Max 0 ...
Wednesday, 19 October 22
ASIA COULD BE A BRIGHT SPOT AMID GLOBAL DOWNTURN NEXT YEAR, ECONOMISTS SAY - CNBC
Asia — especially Southeast Asia — remains a bright spot, even as the global economy looks set to head into recession next year, econom ...
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- Uttam Galva Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- The Treasury - Australian Government
- Parliament of New Zealand
- India Bulls Power Limited - India
- Baramulti Group, Indonesia
- Orica Australia Pty. Ltd.
- Indian Oil Corporation Limited
- Maheswari Brothers Coal Limited - India
- Simpson Spence & Young - Indonesia
- Anglo American - United Kingdom
- Kepco SPC Power Corporation, Philippines
- VISA Power Limited - India
- Banpu Public Company Limited - Thailand
- Standard Chartered Bank - UAE
- Iligan Light & Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Siam City Cement PLC, Thailand
- Bhushan Steel Limited - India
- Coalindo Energy - Indonesia
- Minerals Council of Australia
- Savvy Resources Ltd - HongKong
- Videocon Industries ltd - India
- Ambuja Cements Ltd - India
- Central Java Power - Indonesia
- GAC Shipping (India) Pvt Ltd
- Meenaskhi Energy Private Limited - India
- PNOC Exploration Corporation - Philippines
- Bhatia International Limited - India
- Sinarmas Energy and Mining - Indonesia
- Eastern Energy - Thailand
- Wood Mackenzie - Singapore
- ASAPP Information Group - India
- Agrawal Coal Company - India
- Manunggal Multi Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Tata Chemicals Ltd - India
- Globalindo Alam Lestari - Indonesia
- Economic Council, Georgia
- CIMB Investment Bank - Malaysia
- GMR Energy Limited - India
- Port Waratah Coal Services - Australia
- Merrill Lynch Commodities Europe
- Electricity Authority, New Zealand
- Renaissance Capital - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- South Luzon Thermal Energy Corporation
- Vijayanagar Sugar Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Maharashtra Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Miang Besar Coal Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Global Green Power PLC Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Meralco Power Generation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Medco Energi Mining Internasional
- Cement Manufacturers Association - India
- Gujarat Mineral Development Corp Ltd - India
- Kumho Petrochemical, South Korea
- Altura Mining Limited, Indonesia
- Singapore Mercantile Exchange
- Bayan Resources Tbk. - Indonesia
- ICICI Bank Limited - India
- Energy Link Ltd, New Zealand
- MS Steel International - UAE
- Metalloyd Limited - United Kingdom
- Samtan Co., Ltd - South Korea
- Goldman Sachs - Singapore
- Lanco Infratech Ltd - India
- Indo Tambangraya Megah - Indonesia
- Chamber of Mines of South Africa
- Cigading International Bulk Terminal - Indonesia
- Australian Coal Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Timah Investasi Mineral - Indoneisa
- Global Business Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Siam City Cement - Thailand
- Xindia Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- Salva Resources Pvt Ltd - India
- Indogreen Group - Indonesia
- Wilmar Investment Holdings
- Petron Corporation, Philippines
- Coal and Oil Company - UAE
- Rio Tinto Coal - Australia
- Essar Steel Hazira Ltd - India
- Carbofer General Trading SA - India
- Sical Logistics Limited - India
- Energy Development Corp, Philippines
- Gujarat Sidhee Cement - India
- Mintek Dendrill Indonesia
- The State Trading Corporation of India Ltd
- Billiton Holdings Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- Bukit Baiduri Energy - Indonesia
- McConnell Dowell - Australia
- Power Finance Corporation Ltd., India
- Thai Mozambique Logistica
- Therma Luzon, Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Kartika Selabumi Mining - Indonesia
- Commonwealth Bank - Australia
- Bangladesh Power Developement Board
- Orica Mining Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- The University of Queensland
- Ministry of Mines - Canada
- Mercuria Energy - Indonesia
- Ministry of Finance - Indonesia
- Eastern Coal Council - USA
- Sree Jayajothi Cements Limited - India
- Gujarat Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- SMC Global Power, Philippines
- PowerSource Philippines DevCo
- Chettinad Cement Corporation Ltd - India
- Bulk Trading Sa - Switzerland
- Jaiprakash Power Ventures ltd
- Borneo Indobara - Indonesia
- Sakthi Sugars Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Sindya Power Generating Company Private Ltd
- Attock Cement Pakistan Limited
- Star Paper Mills Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Romanian Commodities Exchange
- Interocean Group of Companies - India
- Kobexindo Tractors - Indoneisa
- Indonesian Coal Mining Association
- Deloitte Consulting - India
- Heidelberg Cement - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GN Power Mariveles Coal Plant, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Posco Energy - South Korea
- Grasim Industreis Ltd - India
- Semirara Mining Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Barasentosa Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Malabar Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Planning Commission, India
- Binh Thuan Hamico - Vietnam
- OPG Power Generation Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Ind-Barath Power Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Aditya Birla Group - India
- SN Aboitiz Power Inc, Philippines
- Australian Commodity Traders Exchange
- London Commodity Brokers - England
- Rashtriya Ispat Nigam Limited - India
- Antam Resourcindo - Indonesia
- Thiess Contractors Indonesia
- Toyota Tsusho Corporation, Japan
- Pendopo Energi Batubara - Indonesia
- Central Electricity Authority - India
- Asmin Koalindo Tuhup - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMG Consultants - Indonesia
- European Bulk Services B.V. - Netherlands
- Tamil Nadu electricity Board
- Georgia Ports Authority, United States
- Marubeni Corporation - India
- Vedanta Resources Plc - India
- AsiaOL BioFuels Corp., Philippines
- Karaikal Port Pvt Ltd - India
- White Energy Company Limited
- Indian Energy Exchange, India
- Larsen & Toubro Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Oldendorff Carriers - Singapore
- Dalmia Cement Bharat India
- GVK Power & Infra Limited - India
- Mercator Lines Limited - India
- Africa Commodities Group - South Africa
- New Zealand Coal & Carbon
- TeaM Sual Corporation - Philippines
- Independent Power Producers Association of India
- Sojitz Corporation - Japan
- CNBM International Corporation - China
- Kaltim Prima Coal - Indonesia
- Formosa Plastics Group - Taiwan
- Electricity Generating Authority of Thailand
- Coastal Gujarat Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- PTC India Limited - India
- Jindal Steel & Power Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Mjunction Services Limited - India
- Latin American Coal - Colombia
- Ministry of Transport, Egypt
- Makarim & Taira - Indonesia
- Indika Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Vizag Seaport Private Limited - India
- Straits Asia Resources Limited - Singapore
- Holcim Trading Pte Ltd - Singapore
- San Jose City I Power Corp, Philippines
- Edison Trading Spa - Italy
- Kideco Jaya Agung - Indonesia
- Parry Sugars Refinery, India
- Intertek Mineral Services - Indonesia
- Bharathi Cement Corporation - India
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