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