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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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Thursday, 06 October 22
COAL INDIA ASKED TO ENHANCE SUPPLY TO THERMAL POWER PLANTS - IANS
With the festival season round the corner, Coal India Ltd. has been directed by the government to scale up dispatch to thermal power plants.
&n ...
Wednesday, 05 October 22
BUNKER PRICES DOWN AGAIN; IS THERE MORE TO COME? - INTEGR8 FUELS
It’s the economy…..”
VLSFO prices are now back to levels at the start of this year. After all the extremes of thi ...
Wednesday, 05 October 22
MARKET INSIGHT - INTERMODAL
Amid the looming western sanctions on Russia, the country is challenged to pivot its energy markets away from Europe and toward the East. Yet, Russ ...
Tuesday, 04 October 22
A REMARKABLE SHIFT IN FORTUNES HAS BEEN NOTED IN THE CRUDE OIL TANKER MARKETS - ALLIED SHIPPING
A remarkable shift in fortunes has been noted in the crude oil tanker markets over the past month, yet despite these shifts being seemingly in thei ...
Tuesday, 04 October 22
OIL PRICES COULD SOON RETURN TO $100 AS OPEC+ CONSIDERS ‘HISTORIC’ CUT, ANALYSTS SAY - CNBC
An influential alliance of some of the world’s most powerful oil producers is reportedly considering their largest output cut since the start ...
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- Standard Chartered Bank - UAE
- Posco Energy - South Korea
- Wood Mackenzie - Singapore
- Carbofer General Trading SA - India
- Mjunction Services Limited - India
- Jindal Steel & Power Ltd - India
- OPG Power Generation Pvt Ltd - India
- Thiess Contractors Indonesia
- Global Green Power PLC Corporation, Philippines
- Chamber of Mines of South Africa
- Globalindo Alam Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Ambuja Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- McConnell Dowell - Australia
- Star Paper Mills Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Videocon Industries ltd - India
- Xindia Steels Limited - India
- Eastern Coal Council - USA
- Parry Sugars Refinery, India
- Sical Logistics Limited - India
- Uttam Galva Steels Limited - India
- The State Trading Corporation of India Ltd
- Attock Cement Pakistan Limited
- Karaikal Port Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Orica Mining Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Parliament of New Zealand
- India Bulls Power Limited - India
- IEA Clean Coal Centre - UK
- Ceylon Electricity Board - Sri Lanka
- PetroVietnam Power Coal Import and Supply Company
- Kumho Petrochemical, South Korea
- Semirara Mining and Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- ASAPP Information Group - India
- Coastal Gujarat Power Limited - India
- LBH Netherlands Bv - Netherlands
- Aboitiz Power Corporation - Philippines
- Australian Coal Association
- SMG Consultants - Indonesia
- Latin American Coal - Colombia
- Siam City Cement PLC, Thailand
- CIMB Investment Bank - Malaysia
- Kideco Jaya Agung - Indonesia
- MS Steel International - UAE
- Tamil Nadu electricity Board
- Jorong Barutama Greston.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- Wilmar Investment Holdings
- Malabar Cements Ltd - India
- CNBM International Corporation - China
- Commonwealth Bank - Australia
- Deloitte Consulting - India
- Antam Resourcindo - Indonesia
- Georgia Ports Authority, United States
- PNOC Exploration Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Coalindo Energy - Indonesia
- Mintek Dendrill Indonesia
- Indian Energy Exchange, India
- Pipit Mutiara Jaya. PT, Indonesia
- Straits Asia Resources Limited - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Merrill Lynch Commodities Europe
- Essar Steel Hazira Ltd - India
- Energy Link Ltd, New Zealand
- Sojitz Corporation - Japan
- Medco Energi Mining Internasional
- London Commodity Brokers - England
- Gujarat Mineral Development Corp Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- GVK Power & Infra Limited - India
- SMC Global Power, Philippines
- Interocean Group of Companies - India
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Alfred C Toepfer International GmbH - Germany
- Oldendorff Carriers - Singapore
- Altura Mining Limited, Indonesia
- Ministry of Transport, Egypt
- Singapore Mercantile Exchange
- Ind-Barath Power Infra Limited - India
- Banpu Public Company Limited - Thailand
- Economic Council, Georgia
- Karbindo Abesyapradhi - Indoneisa
- Barasentosa Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- White Energy Company Limited
- Electricity Authority, New Zealand
- Grasim Industreis Ltd - India
- Makarim & Taira - Indonesia
- Bhoruka Overseas - Indonesia
- PowerSource Philippines DevCo
- Romanian Commodities Exchange
- Energy Development Corp, Philippines
- Bhatia International Limited - India
- Minerals Council of Australia
- Thai Mozambique Logistica
- Vedanta Resources Plc - India
- Edison Trading Spa - Italy
- Indian Oil Corporation Limited
- Port Waratah Coal Services - Australia
- Bukit Makmur.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Samtan Co., Ltd - South Korea
- Meralco Power Generation, Philippines
- The University of Queensland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Africa Commodities Group - South Africa
- Marubeni Corporation - India
- Manunggal Multi Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Vizag Seaport Private Limited - India
- Pendopo Energi Batubara - Indonesia
- Kobexindo Tractors - Indoneisa
- Petron Corporation, Philippines
- Independent Power Producers Association of India
- Leighton Contractors Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- Rio Tinto Coal - Australia
- Bangladesh Power Developement Board
- Billiton Holdings Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Mercuria Energy - Indonesia
- Coal and Oil Company - UAE
- IHS Mccloskey Coal Group - USA
- Maheswari Brothers Coal Limited - India
- Sindya Power Generating Company Private Ltd
- Price Waterhouse Coopers - Russia
- The Treasury - Australian Government
- Miang Besar Coal Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Indo Tambangraya Megah - Indonesia
- Sree Jayajothi Cements Limited - India
- Dalmia Cement Bharat India
- Semirara Mining Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- International Coal Ventures Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- AsiaOL BioFuels Corp., Philippines
- Borneo Indobara - Indonesia
- Heidelberg Cement - Germany
- Neyveli Lignite Corporation Ltd, - India
- Indogreen Group - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Ministry of Mines - Canada
- Global Business Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Kalimantan Lumbung Energi - Indonesia
- Renaissance Capital - South Africa
- ICICI Bank Limited - India
- Riau Bara Harum - Indonesia
- Bhushan Steel Limited - India
- Larsen & Toubro Limited - India
- Sarangani Energy Corporation, Philippines
- PTC India Limited - India
- Indonesian Coal Mining Association
- Kaltim Prima Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Central Electricity Authority - India
- Salva Resources Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Madhucon Powers Ltd - India
- GMR Energy Limited - India
- Toyota Tsusho Corporation, Japan
- Indika Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Gujarat Electricity Regulatory Commission - India
- Planning Commission, India
- Directorate General of MIneral and Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bayan Resources Tbk. - Indonesia
- South Luzon Thermal Energy Corporation
- European Bulk Services B.V. - Netherlands
- Kepco SPC Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Trasteel International SA, Italy
- Aditya Birla Group - India
- San Jose City I Power Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Mercator Lines Limited - India
- Lanco Infratech Ltd - India
- Central Java Power - Indonesia
- Sakthi Sugars Limited - India
- Agrawal Coal Company - India
- Formosa Plastics Group - Taiwan
- Goldman Sachs - Singapore
- Eastern Energy - Thailand
- Ministry of Finance - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Directorate Of Revenue Intelligence - India
- VISA Power Limited - India
- Baramulti Group, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bharathi Cement Corporation - India
- Power Finance Corporation Ltd., India
- Cement Manufacturers Association - India
- GN Power Mariveles Coal Plant, Philippines
- Orica Australia Pty. Ltd.
- Anglo American - United Kingdom
- Electricity Generating Authority of Thailand
- Tata Chemicals Ltd - India
- New Zealand Coal & Carbon
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