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