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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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Friday, 23 September 22
CHINA DIGS DEEP TO RAISE COAL OUTPUT TO RECORD HIGH - REUTERS
China’s coal production has surged this year as the government seeks to improve energy security by reducing dependence on imports and amassin ...
Friday, 23 September 22
BUOYANT COAL INDUSTRY SEEKS WAYS TO STAY IN THE LONG-TERM ENERGY MIX - REUTERS
There’s no doubt that the global coal industry has been a major beneficiary of Russia’s invasion of Ukraine and the subsequent energy c ...
Friday, 23 September 22
MARKET INSIGHT - INTERMODAL
In view of the forthcoming winter, Europe is trying to escape from its energy (oil & gas) dependency from Russia to ensure energy abundance eve ...
Tuesday, 20 September 22
CHINA'S DAILY COAL OUTPUT HITS 3-MONTH LOW IN AUGUST ON RAINS, COVID CURBS - REUTERS
China’s daily coal output in August slipped to a three-month low as some mines in its biggest coal mining regions reduced operations or even ...
Tuesday, 20 September 22
CHINA COAL OUTPUT UP 8.1 PCT IN AUGUST - XINHUA
China’s raw coal output posted stable expansion in August, official data showed.
The country produced 370 million tonnes of ra ...
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Showing 226 to 230 news of total 6871 |
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- New Zealand Coal & Carbon
- Kohat Cement Company Ltd. - Pakistan
- Goldman Sachs - Singapore
- Romanian Commodities Exchange
- Bulk Trading Sa - Switzerland
- Savvy Resources Ltd - HongKong
- Mercuria Energy - Indonesia
- Madhucon Powers Ltd - India
- Metalloyd Limited - United Kingdom
- Larsen & Toubro Limited - India
- Georgia Ports Authority, United States
- Attock Cement Pakistan Limited
- Bharathi Cement Corporation - India
- McConnell Dowell - Australia
- Ministry of Finance - Indonesia
- Formosa Plastics Group - Taiwan
- Mjunction Services Limited - India
- Posco Energy - South Korea
- Directorate Of Revenue Intelligence - India
- Petrochimia International Co. Ltd.- Taiwan
- Meenaskhi Energy Private Limited - India
- Orica Mining Services - Indonesia
- India Bulls Power Limited - India
- Toyota Tsusho Corporation, Japan
- GN Power Mariveles Coal Plant, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Borneo Indobara - Indonesia
- Altura Mining Limited, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- SN Aboitiz Power Inc, Philippines
- White Energy Company Limited
- ICICI Bank Limited - India
- Bhushan Steel Limited - India
- Lanco Infratech Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- CIMB Investment Bank - Malaysia
- Intertek Mineral Services - Indonesia
- Indian Oil Corporation Limited
- Billiton Holdings Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- VISA Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Global Coal Blending Company Limited - Australia
- Trasteel International SA, Italy
- Antam Resourcindo - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhoruka Overseas - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Deloitte Consulting - India
- Straits Asia Resources Limited - Singapore
- Kaltim Prima Coal - Indonesia
- Edison Trading Spa - Italy
- South Luzon Thermal Energy Corporation
- Thiess Contractors Indonesia
- The Treasury - Australian Government
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Carbofer General Trading SA - India
- Australian Coal Association
- Mercator Lines Limited - India
- Bhatia International Limited - India
- GVK Power & Infra Limited - India
- Parry Sugars Refinery, India
- Bukit Baiduri Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- PNOC Exploration Corporation - Philippines
- Indian Energy Exchange, India
- Krishnapatnam Port Company Ltd. - India
- Central Electricity Authority - India
- Latin American Coal - Colombia
- Oldendorff Carriers - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Minerals Council of Australia
- Chettinad Cement Corporation Ltd - India
- Karaikal Port Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Tamil Nadu electricity Board
- Interocean Group of Companies - India
- Aboitiz Power Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Rio Tinto Coal - Australia
- Bangladesh Power Developement Board
- PowerSource Philippines DevCo
- The State Trading Corporation of India Ltd
- Chamber of Mines of South Africa
- Salva Resources Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Jindal Steel & Power Ltd - India
- Star Paper Mills Limited - India
- Bayan Resources Tbk. - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Orica Australia Pty. Ltd.
- Kartika Selabumi Mining - Indonesia
- Siam City Cement - Thailand
- Coal and Oil Company - UAE
- Africa Commodities Group - South Africa
- Ind-Barath Power Infra Limited - India
- Barasentosa Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Port Waratah Coal Services - Australia
- Price Waterhouse Coopers - Russia
- Kalimantan Lumbung Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Cement Manufacturers Association - India
- Jorong Barutama Greston.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Ceylon Electricity Board - Sri Lanka
- Electricity Authority, New Zealand
- Globalindo Alam Lestari - Indonesia
- Gujarat Sidhee Cement - India
- GAC Shipping (India) Pvt Ltd
- Manunggal Multi Energi - Indonesia
- Singapore Mercantile Exchange
- Kumho Petrochemical, South Korea
- Grasim Industreis Ltd - India
- Ministry of Mines - Canada
- PetroVietnam Power Coal Import and Supply Company
- Heidelberg Cement - Germany
- Kapuas Tunggal Persada - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jaiprakash Power Ventures ltd
- Miang Besar Coal Terminal - Indonesia
- Indogreen Group - Indonesia
- Anglo American - United Kingdom
- SMC Global Power, Philippines
- Commonwealth Bank - Australia
- Parliament of New Zealand
- Sical Logistics Limited - India
- Eastern Energy - Thailand
- Central Java Power - Indonesia
- OPG Power Generation Pvt Ltd - India
- Videocon Industries ltd - India
- Eastern Coal Council - USA
- Uttam Galva Steels Limited - India
- GMR Energy Limited - India
- Siam City Cement PLC, Thailand
- Energy Development Corp, Philippines
- Riau Bara Harum - Indonesia
- Thai Mozambique Logistica
- Ambuja Cements Ltd - India
- Renaissance Capital - South Africa
- Indonesian Coal Mining Association
- Sakthi Sugars Limited - India
- Sojitz Corporation - Japan
- Vedanta Resources Plc - India
- Makarim & Taira - Indonesia
- The University of Queensland
- Global Business Power Corporation, Philippines
- Medco Energi Mining Internasional
- Holcim Trading Pte Ltd - Singapore
- Vizag Seaport Private Limited - India
- Dalmia Cement Bharat India
- Bukit Asam (Persero) Tbk - Indonesia
- IEA Clean Coal Centre - UK
- LBH Netherlands Bv - Netherlands
- Aditya Birla Group - India
- Meralco Power Generation, Philippines
- Therma Luzon, Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Indika Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- London Commodity Brokers - England
- Agrawal Coal Company - India
- Tata Chemicals Ltd - India
- Cigading International Bulk Terminal - Indonesia
- ASAPP Information Group - India
- Sindya Power Generating Company Private Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Leighton Contractors Pty Ltd - Australia
- MS Steel International - UAE
- CNBM International Corporation - China
- Australian Commodity Traders Exchange
- Essar Steel Hazira Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Energy Link Ltd, New Zealand
- Sinarmas Energy and Mining - Indonesia
- Wood Mackenzie - Singapore
- Xindia Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Kideco Jaya Agung - Indonesia
- Wilmar Investment Holdings
- Karbindo Abesyapradhi - Indoneisa
- TeaM Sual Corporation - Philippines
- Economic Council, Georgia
- Ministry of Transport, Egypt
- Coalindo Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Independent Power Producers Association of India
- Standard Chartered Bank - UAE
- Petron Corporation, Philippines
- SMG Consultants - Indonesia
- Planning Commission, India
- PTC India Limited - India
- European Bulk Services B.V. - Netherlands
- Banpu Public Company Limited - Thailand
- Timah Investasi Mineral - Indoneisa
- Malabar Cements Ltd - India
- Power Finance Corporation Ltd., India
- Baramulti Group, Indonesia
- Sarangani Energy Corporation, Philippines
- Marubeni Corporation - India
- Simpson Spence & Young - Indonesia
- Semirara Mining and Power Corporation, Philippines
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