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