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