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