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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, 19 October 22
WHAT WILL THE GAS MARKET LOOK LIKE IN A NET ZERO WORLD? - WOOD MACKENZIE
The global gas and LNG market faces a number of ‘great unknowns’. With the market in turmoil uncertainty abounds – from the scale ...
Wednesday, 19 October 22
MARKET INSIGHT - INTERMODAL
The LNG market remains extremely tight, and as a result adding further pressure on the vessel charter market, which is already stretched due to the ...
Sunday, 16 October 22
COULD A RETURN TO SHALE EXPLORATION BE PART OF THE SOLUTION TO EUROPE'S GAS SUPPLY PROBLEM? - WOOD MACKENZIE
The European gas market is in turmoil. Russia’s invasion of Ukraine has shaken things up, triggering a complete rethink of European energy st ...
Thursday, 13 October 22
THERMAL COAL PRICES RETREAT AS WINTER SUPPLY FEARS EASE - REUTERS
The prices of key thermal seaborne coal grades are retreating amid signs that supplies will be sufficient to meet winter demand in both Europe and ...
Thursday, 13 October 22
SPOT COAL BIDDING: CHINESE FIRM WANTS REVISED MECHANISM - BUSINESS RECORDER
Chinese company M/s Huaneng Shandong Ruyi (Pakistan) Energy Limited (HSR) has cautioned National Electric Power Regulatory Authority (Nepra) that i ...
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- PTC India Limited - India
- Price Waterhouse Coopers - Russia
- Ceylon Electricity Board - Sri Lanka
- International Coal Ventures Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- The University of Queensland
- Eastern Energy - Thailand
- Salva Resources Pvt Ltd - India
- Mercuria Energy - Indonesia
- PowerSource Philippines DevCo
- IHS Mccloskey Coal Group - USA
- Baramulti Group, Indonesia
- Maheswari Brothers Coal Limited - India
- Formosa Plastics Group - Taiwan
- LBH Netherlands Bv - Netherlands
- Kobexindo Tractors - Indoneisa
- Indonesian Coal Mining Association
- Singapore Mercantile Exchange
- Jindal Steel & Power Ltd - India
- Ministry of Transport, Egypt
- Aditya Birla Group - India
- Binh Thuan Hamico - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Makmur.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- Altura Mining Limited, Indonesia
- Eastern Coal Council - USA
- Ambuja Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indika Energy - Indonesia
- Parliament of New Zealand
- Gujarat Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Krishnapatnam Port Company Ltd. - India
- London Commodity Brokers - England
- Central Java Power - Indonesia
- Ind-Barath Power Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Bhatia International Limited - India
- Thiess Contractors Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- Sarangani Energy Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Petron Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Minerals Council of Australia
- Parry Sugars Refinery, India
- Essar Steel Hazira Ltd - India
- Economic Council, Georgia
- Coal and Oil Company - UAE
- Posco Energy - South Korea
- Straits Asia Resources Limited - Singapore
- Mercator Lines Limited - India
- McConnell Dowell - Australia
- Commonwealth Bank - Australia
- Iligan Light & Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Sindya Power Generating Company Private Ltd
- Kohat Cement Company Ltd. - Pakistan
- Timah Investasi Mineral - Indoneisa
- Cement Manufacturers Association - India
- Goldman Sachs - Singapore
- Sical Logistics Limited - India
- Sakthi Sugars Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- SMG Consultants - Indonesia
- Standard Chartered Bank - UAE
- Trasteel International SA, Italy
- Samtan Co., Ltd - South Korea
- Energy Link Ltd, New Zealand
- Barasentosa Lestari - Indonesia
- ASAPP Information Group - India
- Semirara Mining and Power Corporation, Philippines
- Central Electricity Authority - India
- GVK Power & Infra Limited - India
- Wilmar Investment Holdings
- Electricity Generating Authority of Thailand
- Lanco Infratech Ltd - India
- Kartika Selabumi Mining - Indonesia
- Makarim & Taira - Indonesia
- Vizag Seaport Private Limited - India
- Xindia Steels Limited - India
- Merrill Lynch Commodities Europe
- Antam Resourcindo - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Planning Commission, India
- Chettinad Cement Corporation Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Australian Commodity Traders Exchange
- Heidelberg Cement - Germany
- Bhoruka Overseas - Indonesia
- San Jose City I Power Corp, Philippines
- Electricity Authority, New Zealand
- Kaltim Prima Coal - Indonesia
- Mjunction Services Limited - India
- Medco Energi Mining Internasional
- ICICI Bank Limited - India
- Anglo American - United Kingdom
- Directorate Of Revenue Intelligence - India
- CIMB Investment Bank - Malaysia
- Madhucon Powers Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Karaikal Port Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhushan Steel Limited - India
- Pendopo Energi Batubara - Indonesia
- Indian Energy Exchange, India
- Coastal Gujarat Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- CNBM International Corporation - China
- Grasim Industreis Ltd - India
- Ministry of Mines - Canada
- Savvy Resources Ltd - HongKong
- Oldendorff Carriers - Singapore
- Latin American Coal - Colombia
- White Energy Company Limited
- Bangladesh Power Developement Board
- Karbindo Abesyapradhi - Indoneisa
- Romanian Commodities Exchange
- Neyveli Lignite Corporation Ltd, - India
- SN Aboitiz Power Inc, Philippines
- Semirara Mining Corp, Philippines
- Orica Australia Pty. Ltd.
- Aboitiz Power Corporation - Philippines
- Malabar Cements Ltd - India
- Global Business Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mintek Dendrill Indonesia
- The Treasury - Australian Government
- Chamber of Mines of South Africa
- Borneo Indobara - Indonesia
- Star Paper Mills Limited - India
- Simpson Spence & Young - Indonesia
- Interocean Group of Companies - India
- Sojitz Corporation - Japan
- Vedanta Resources Plc - India
- Indo Tambangraya Megah - Indonesia
- Georgia Ports Authority, United States
- Port Waratah Coal Services - Australia
- Carbofer General Trading SA - India
- Gujarat Mineral Development Corp Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Meralco Power Generation, Philippines
- VISA Power Limited - India
- Agrawal Coal Company - India
- Rio Tinto Coal - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Thai Mozambique Logistica
- Miang Besar Coal Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- Videocon Industries ltd - India
- Kumho Petrochemical, South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Kalimantan Lumbung Energi - Indonesia
- Edison Trading Spa - Italy
- Tamil Nadu electricity Board
- IEA Clean Coal Centre - UK
- Jaiprakash Power Ventures ltd
- Alfred C Toepfer International GmbH - Germany
- Global Green Power PLC Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Attock Cement Pakistan Limited
- Ministry of Finance - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Global Coal Blending Company Limited - Australia
- Marubeni Corporation - India
- Dalmia Cement Bharat India
- GMR Energy Limited - India
- Billiton Holdings Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Africa Commodities Group - South Africa
- Bayan Resources Tbk. - Indonesia
- Australian Coal Association
- Independent Power Producers Association of India
- Larsen & Toubro Limited - India
- Orica Mining Services - Indonesia
- Indogreen Group - Indonesia
- MS Steel International - UAE
- India Bulls Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Power Finance Corporation Ltd., India
- Kepco SPC Power Corporation, Philippines
- Energy Development Corp, Philippines
- New Zealand Coal & Carbon
- Deloitte Consulting - India
- Sinarmas Energy and Mining - Indonesia
- SMC Global Power, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Manunggal Multi Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Siam City Cement PLC, Thailand
- Gujarat Sidhee Cement - India
- Metalloyd Limited - United Kingdom
- Toyota Tsusho Corporation, Japan
- Intertek Mineral Services - Indonesia
- Tata Chemicals Ltd - India
- The State Trading Corporation of India Ltd
- Riau Bara Harum - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Indian Oil Corporation Limited
- Coalindo Energy - Indonesia
- Wood Mackenzie - Singapore
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement - Thailand
- Renaissance Capital - South Africa
- South Luzon Thermal Energy Corporation
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