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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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Monday, 19 September 22
BUMA AUSTRALIA AWARDED A$400 MILLION CONTRACT EXTENSION BY BMA FOR GOONYELLA PROJECT
Press Release – PT Delta Dunia Makmur Tbk. (the "Company") announced that its subsidiary, PT Bukit Makmur Mandiri Utama ("BUMA ...
Saturday, 17 September 22
CHINA WARNS COAL COMPANIES AGAINST DUAL CONTRACTS, KEEP PRICES STABLE - REUTERS
China’s state economic planner warned coal companies operating at ports in the Bohai Bay region to comply with their long-term contracts to k ...
Saturday, 17 September 22
IS A GLOBAL RECESSION IMMINENT? - WORLD BANK
Since the beginning of the year, a rapid deterioration of growth prospects coupled with rising inflation and tightening financing conditions, has i ...
Saturday, 17 September 22
FITCH RATINGS REVISES GLOBAL METALS & MINING PRICE ASSUMPTIONS
Fitch Ratings has revised its metals and mining price assumptions reflecting evolving economic growth expectations and demand and supply dynamics.
...
Friday, 16 September 22
WHEN IS A VESSEL'S INCOME EARNING CAPACITY AT RISK? 'CONTROLLED INCOME CAN BE A KEY OF SUCCESS' - MARASCO MARINE
Managing marine risks is not an easy task, which requires special knowledge and expertise on the subject per se. Customarily, big ship management c ...
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- Billiton Holdings Pty Ltd - Australia
- Agrawal Coal Company - India
- Ambuja Cements Ltd - India
- Eastern Energy - Thailand
- Bangladesh Power Developement Board
- CIMB Investment Bank - Malaysia
- India Bulls Power Limited - India
- Vizag Seaport Private Limited - India
- Mercuria Energy - Indonesia
- Xindia Steels Limited - India
- SMC Global Power, Philippines
- Indika Energy - Indonesia
- Borneo Indobara - Indonesia
- Vedanta Resources Plc - India
- Energy Link Ltd, New Zealand
- Metalloyd Limited - United Kingdom
- Posco Energy - South Korea
- Holcim Trading Pte Ltd - Singapore
- Iligan Light & Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Minerals Council of Australia
- Bhushan Steel Limited - India
- Electricity Generating Authority of Thailand
- Essar Steel Hazira Ltd - India
- The University of Queensland
- Deloitte Consulting - India
- Planning Commission, India
- ICICI Bank Limited - India
- Kideco Jaya Agung - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- AsiaOL BioFuels Corp., Philippines
- CNBM International Corporation - China
- Ministry of Transport, Egypt
- Parliament of New Zealand
- Sical Logistics Limited - India
- Simpson Spence & Young - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kumho Petrochemical, South Korea
- PTC India Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining Corp, Philippines
- Dalmia Cement Bharat India
- Krishnapatnam Port Company Ltd. - India
- Vijayanagar Sugar Pvt Ltd - India
- Bharathi Cement Corporation - India
- Gujarat Sidhee Cement - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Electricity Authority - India
- Bukit Makmur.PT - Indonesia
- Economic Council, Georgia
- Jindal Steel & Power Ltd - India
- LBH Netherlands Bv - Netherlands
- Grasim Industreis Ltd - India
- Miang Besar Coal Terminal - Indonesia
- McConnell Dowell - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Central Java Power - Indonesia
- Indian Oil Corporation Limited
- White Energy Company Limited
- Energy Development Corp, Philippines
- Renaissance Capital - South Africa
- Bhoruka Overseas - Indonesia
- Formosa Plastics Group - Taiwan
- Uttam Galva Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- ASAPP Information Group - India
- IHS Mccloskey Coal Group - USA
- Mjunction Services Limited - India
- Latin American Coal - Colombia
- Orica Mining Services - Indonesia
- Sarangani Energy Corporation, Philippines
- MS Steel International - UAE
- Independent Power Producers Association of India
- Neyveli Lignite Corporation Ltd, - India
- Thiess Contractors Indonesia
- Cement Manufacturers Association - India
- TeaM Sual Corporation - Philippines
- Coal and Oil Company - UAE
- Intertek Mineral Services - Indonesia
- Commonwealth Bank - Australia
- Bulk Trading Sa - Switzerland
- Mintek Dendrill Indonesia
- Indian Energy Exchange, India
- Videocon Industries ltd - India
- Coalindo Energy - Indonesia
- Chamber of Mines of South Africa
- International Coal Ventures Pvt Ltd - India
- Australian Coal Association
- PowerSource Philippines DevCo
- Leighton Contractors Pty Ltd - Australia
- Malabar Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- Parry Sugars Refinery, India
- Global Coal Blending Company Limited - Australia
- SMG Consultants - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- London Commodity Brokers - England
- Heidelberg Cement - Germany
- Mercator Lines Limited - India
- Directorate General of MIneral and Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Attock Cement Pakistan Limited
- Antam Resourcindo - Indonesia
- Meenaskhi Energy Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Anglo American - United Kingdom
- Maheswari Brothers Coal Limited - India
- Salva Resources Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Tamil Nadu electricity Board
- Banpu Public Company Limited - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement PLC, Thailand
- Wilmar Investment Holdings
- SN Aboitiz Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Kepco SPC Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Makarim & Taira - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Pipit Mutiara Jaya. PT, Indonesia
- Port Waratah Coal Services - Australia
- Kobexindo Tractors - Indoneisa
- Edison Trading Spa - Italy
- OPG Power Generation Pvt Ltd - India
- Romanian Commodities Exchange
- South Luzon Thermal Energy Corporation
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- European Bulk Services B.V. - Netherlands
- Sojitz Corporation - Japan
- Altura Mining Limited, Indonesia
- Savvy Resources Ltd - HongKong
- Marubeni Corporation - India
- San Jose City I Power Corp, Philippines
- Jaiprakash Power Ventures ltd
- Africa Commodities Group - South Africa
- Goldman Sachs - Singapore
- Kartika Selabumi Mining - Indonesia
- Carbofer General Trading SA - India
- Star Paper Mills Limited - India
- Singapore Mercantile Exchange
- Jorong Barutama Greston.PT - Indonesia
- Wood Mackenzie - Singapore
- Globalindo Alam Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bayan Resources Tbk. - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Straits Asia Resources Limited - Singapore
- Orica Australia Pty. Ltd.
- Medco Energi Mining Internasional
- Pendopo Energi Batubara - Indonesia
- New Zealand Coal & Carbon
- Rio Tinto Coal - Australia
- Bhatia International Limited - India
- Sakthi Sugars Limited - India
- Trasteel International SA, Italy
- Samtan Co., Ltd - South Korea
- Aditya Birla Group - India
- Lanco Infratech Ltd - India
- Global Green Power PLC Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Ind-Barath Power Infra Limited - India
- Indonesian Coal Mining Association
- Directorate Of Revenue Intelligence - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Coal Council - USA
- Petron Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GMR Energy Limited - India
- VISA Power Limited - India
- Barasentosa Lestari - Indonesia
- Madhucon Powers Ltd - India
- Merrill Lynch Commodities Europe
- Karaikal Port Pvt Ltd - India
- Tata Chemicals Ltd - India
- Interocean Group of Companies - India
- Therma Luzon, Inc, Philippines
- Baramulti Group, Indonesia
- Larsen & Toubro Limited - India
- Thai Mozambique Logistica
- GVK Power & Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Standard Chartered Bank - UAE
- Indo Tambangraya Megah - Indonesia
- Georgia Ports Authority, United States
- Australian Commodity Traders Exchange
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Mines - Canada
- The Treasury - Australian Government
- Sindya Power Generating Company Private Ltd
- Indogreen Group - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Sree Jayajothi Cements Limited - India
- Chettinad Cement Corporation Ltd - India
- Power Finance Corporation Ltd., India
- GAC Shipping (India) Pvt Ltd
- Electricity Authority, New Zealand
- IEA Clean Coal Centre - UK
- GN Power Mariveles Coal Plant, Philippines
- Global Business Power Corporation, Philippines
- Meralco Power Generation, Philippines
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