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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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Showing 206 to 210 news of total 6871 |
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- Kohat Cement Company Ltd. - Pakistan
- Salva Resources Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Port Waratah Coal Services - Australia
- Indo Tambangraya Megah - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- Bangladesh Power Developement Board
- Trasteel International SA, Italy
- Directorate Of Revenue Intelligence - India
- ASAPP Information Group - India
- IHS Mccloskey Coal Group - USA
- Economic Council, Georgia
- Indogreen Group - Indonesia
- Bhushan Steel Limited - India
- Videocon Industries ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Dalmia Cement Bharat India
- Kalimantan Lumbung Energi - Indonesia
- Sical Logistics Limited - India
- Uttam Galva Steels Limited - India
- Romanian Commodities Exchange
- GVK Power & Infra Limited - India
- Formosa Plastics Group - Taiwan
- Tata Chemicals Ltd - India
- White Energy Company Limited
- Gujarat Mineral Development Corp Ltd - India
- Kobexindo Tractors - Indoneisa
- Coal and Oil Company - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Cement Manufacturers Association - India
- Interocean Group of Companies - India
- GMR Energy Limited - India
- Edison Trading Spa - Italy
- Siam City Cement PLC, Thailand
- Maharashtra Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Standard Chartered Bank - UAE
- Eastern Coal Council - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PTC India Limited - India
- Australian Commodity Traders Exchange
- Gujarat Sidhee Cement - India
- Riau Bara Harum - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Merrill Lynch Commodities Europe
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Georgia Ports Authority, United States
- Thai Mozambique Logistica
- Tamil Nadu electricity Board
- Bukit Asam (Persero) Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Bahari Cakrawala Sebuku - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Binh Thuan Hamico - Vietnam
- OPG Power Generation Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Straits Asia Resources Limited - Singapore
- Rashtriya Ispat Nigam Limited - India
- LBH Netherlands Bv - Netherlands
- Oldendorff Carriers - Singapore
- Karaikal Port Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Carbofer General Trading SA - India
- Power Finance Corporation Ltd., India
- Bayan Resources Tbk. - Indonesia
- SMG Consultants - Indonesia
- London Commodity Brokers - England
- Global Green Power PLC Corporation, Philippines
- Renaissance Capital - South Africa
- Jaiprakash Power Ventures ltd
- PowerSource Philippines DevCo
- Malabar Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Intertek Mineral Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Essar Steel Hazira Ltd - India
- Mercuria Energy - Indonesia
- Electricity Authority, New Zealand
- Kumho Petrochemical, South Korea
- Madhucon Powers Ltd - India
- CNBM International Corporation - China
- Antam Resourcindo - Indonesia
- Meenaskhi Energy Private Limited - India
- Global Coal Blending Company Limited - Australia
- Parry Sugars Refinery, India
- ICICI Bank Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Australian Coal Association
- Parliament of New Zealand
- Sinarmas Energy and Mining - Indonesia
- Larsen & Toubro Limited - India
- Meralco Power Generation, Philippines
- Sojitz Corporation - Japan
- Ministry of Mines - Canada
- Maheswari Brothers Coal Limited - India
- Singapore Mercantile Exchange
- Latin American Coal - Colombia
- Kaltim Prima Coal - Indonesia
- Energy Link Ltd, New Zealand
- Aditya Birla Group - India
- Xindia Steels Limited - India
- Orica Australia Pty. Ltd.
- Sarangani Energy Corporation, Philippines
- The Treasury - Australian Government
- Vedanta Resources Plc - India
- Bhatia International Limited - India
- Wilmar Investment Holdings
- CIMB Investment Bank - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- India Bulls Power Limited - India
- Coalindo Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sree Jayajothi Cements Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Mining Services - Indonesia
- The State Trading Corporation of India Ltd
- Mercator Lines Limited - India
- Vizag Seaport Private Limited - India
- Makarim & Taira - Indonesia
- Ind-Barath Power Infra Limited - India
- Ambuja Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Star Paper Mills Limited - India
- McConnell Dowell - Australia
- TeaM Sual Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Agrawal Coal Company - India
- Siam City Cement - Thailand
- Lanco Infratech Ltd - India
- Petron Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Indian Oil Corporation Limited
- Baramulti Group, Indonesia
- Mjunction Services Limited - India
- Globalindo Alam Lestari - Indonesia
- Marubeni Corporation - India
- Minerals Council of Australia
- Sindya Power Generating Company Private Ltd
- Goldman Sachs - Singapore
- Kepco SPC Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Barasentosa Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Indonesian Coal Mining Association
- Banpu Public Company Limited - Thailand
- Sakthi Sugars Limited - India
- Mintek Dendrill Indonesia
- The University of Queensland
- San Jose City I Power Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Simpson Spence & Young - Indonesia
- South Luzon Thermal Energy Corporation
- Chamber of Mines of South Africa
- PetroVietnam Power Coal Import and Supply Company
- Planning Commission, India
- Ministry of Transport, Egypt
- Metalloyd Limited - United Kingdom
- MS Steel International - UAE
- Anglo American - United Kingdom
- Medco Energi Mining Internasional
- Karbindo Abesyapradhi - Indoneisa
- Samtan Co., Ltd - South Korea
- Deloitte Consulting - India
- Africa Commodities Group - South Africa
- Independent Power Producers Association of India
- Grasim Industreis Ltd - India
- Indika Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bharathi Cement Corporation - India
- IEA Clean Coal Centre - UK
- Alfred C Toepfer International GmbH - Germany
- Directorate General of MIneral and Coal - Indonesia
- Central Electricity Authority - India
- New Zealand Coal & Carbon
- Semirara Mining Corp, Philippines
- Altura Mining Limited, Indonesia
- Chettinad Cement Corporation Ltd - India
- Toyota Tsusho Corporation, Japan
- Heidelberg Cement - Germany
- Iligan Light & Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Kartika Selabumi Mining - Indonesia
- Central Java Power - Indonesia
- Bulk Trading Sa - Switzerland
- Krishnapatnam Port Company Ltd. - India
- Thiess Contractors Indonesia
- Bhoruka Overseas - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Energy Development Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Posco Energy - South Korea
- Rio Tinto Coal - Australia
- Kapuas Tunggal Persada - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Timah Investasi Mineral - Indoneisa
- Eastern Energy - Thailand
- Pendopo Energi Batubara - Indonesia
- SMC Global Power, Philippines
- Borneo Indobara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Jorong Barutama Greston.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- VISA Power Limited - India
- Ministry of Finance - Indonesia
- Electricity Generating Authority of Thailand
- Commonwealth Bank - Australia
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