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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, 09 September 22
GREECE WILL KEEP COAL-FIRED PLANTS RUNNING FOR LONGER AMID GAS CRISIS - REUTERS
Greece will keep seven coal-fired plants running for longer than previously planned as European countries adjust to a cut in gas flows coming from ...
Friday, 09 September 22
CHINA'S DROUGHT INTENSIFIES GLOBAL COAL SHORTAGE - REUTERS
China’s drought has sent coal prices surging as traders anticipate the lack of hydroelectric generation will force it to burn more coal to me ...
Thursday, 08 September 22
MOODY.S AFFIRMS ABM INVESTAMA'S B1 RATINGS FOLLOWING PLANNED MINORITY INVESTMENT IN COAL MINER; OUTLOOK STABLE
Moody's Investors Service has affirmed ABM Investama Tbk (P.T.)'s B1 corporate family rating (CFR), along with the B1 rating on its senior ...
Thursday, 08 September 22
MARKET INSIGHT - INTERMODAL
While the energy markets are historically stretched, Russian flows of crude oil are closely monitored as the oil trade is ultimately realigned. Mor ...
Friday, 02 September 22
INDONESIA COAL PRICE REFERENCE SLIPS SLIGHTLY IN SEPTEMBER 2022
COALspot.com: Indonesian Coal Price Reference for September delivery drops 0.74 per cent month on month.
The Indonesian Coal Price R ...
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- Semirara Mining Corp, Philippines
- Star Paper Mills Limited - India
- Videocon Industries ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Barasentosa Lestari - Indonesia
- Bhushan Steel Limited - India
- Therma Luzon, Inc, Philippines
- Savvy Resources Ltd - HongKong
- Maharashtra Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Ministry of Transport, Egypt
- Port Waratah Coal Services - Australia
- GVK Power & Infra Limited - India
- Thiess Contractors Indonesia
- Sical Logistics Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Marubeni Corporation - India
- Parliament of New Zealand
- Tata Chemicals Ltd - India
- Power Finance Corporation Ltd., India
- Xindia Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- Kobexindo Tractors - Indoneisa
- Sindya Power Generating Company Private Ltd
- AsiaOL BioFuels Corp., Philippines
- Central Java Power - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Mineral Development Corp Ltd - India
- SMG Consultants - Indonesia
- Malabar Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Central Electricity Authority - India
- Ind-Barath Power Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Binh Thuan Hamico - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- The Treasury - Australian Government
- Chamber of Mines of South Africa
- London Commodity Brokers - England
- Carbofer General Trading SA - India
- CIMB Investment Bank - Malaysia
- Romanian Commodities Exchange
- Bhoruka Overseas - Indonesia
- Indonesian Coal Mining Association
- Neyveli Lignite Corporation Ltd, - India
- White Energy Company Limited
- Riau Bara Harum - Indonesia
- Sarangani Energy Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Orica Mining Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Ambuja Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- GN Power Mariveles Coal Plant, Philippines
- Bharathi Cement Corporation - India
- Aboitiz Power Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Indika Energy - Indonesia
- Indian Energy Exchange, India
- Krishnapatnam Port Company Ltd. - India
- India Bulls Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sojitz Corporation - Japan
- Petron Corporation, Philippines
- Anglo American - United Kingdom
- The University of Queensland
- Medco Energi Mining Internasional
- Africa Commodities Group - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Coalindo Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Sakthi Sugars Limited - India
- TeaM Sual Corporation - Philippines
- Siam City Cement PLC, Thailand
- Commonwealth Bank - Australia
- Gujarat Sidhee Cement - India
- Global Green Power PLC Corporation, Philippines
- Jaiprakash Power Ventures ltd
- IEA Clean Coal Centre - UK
- Gujarat Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Bulk Trading Sa - Switzerland
- Lanco Infratech Ltd - India
- VISA Power Limited - India
- Trasteel International SA, Italy
- Mjunction Services Limited - India
- Kepco SPC Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Baramulti Group, Indonesia
- Energy Development Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- PowerSource Philippines DevCo
- Electricity Authority, New Zealand
- Indo Tambangraya Megah - Indonesia
- Miang Besar Coal Terminal - Indonesia
- New Zealand Coal & Carbon
- Intertek Mineral Services - Indonesia
- Interocean Group of Companies - India
- Kartika Selabumi Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Borneo Indobara - Indonesia
- Simpson Spence & Young - Indonesia
- Kumho Petrochemical, South Korea
- Coastal Gujarat Power Limited - India
- Manunggal Multi Energi - Indonesia
- Salva Resources Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Mercator Lines Limited - India
- Cement Manufacturers Association - India
- IHS Mccloskey Coal Group - USA
- Iligan Light & Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- SMC Global Power, Philippines
- Larsen & Toubro Limited - India
- Australian Coal Association
- Indian Oil Corporation Limited
- Global Coal Blending Company Limited - Australia
- Chettinad Cement Corporation Ltd - India
- Aditya Birla Group - India
- Parry Sugars Refinery, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Bukit Makmur.PT - Indonesia
- Minerals Council of Australia
- Essar Steel Hazira Ltd - India
- Cigading International Bulk Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Makarim & Taira - Indonesia
- Maheswari Brothers Coal Limited - India
- Vedanta Resources Plc - India
- Goldman Sachs - Singapore
- Pendopo Energi Batubara - Indonesia
- Meralco Power Generation, Philippines
- Australian Commodity Traders Exchange
- ICICI Bank Limited - India
- Sree Jayajothi Cements Limited - India
- Antam Resourcindo - Indonesia
- Altura Mining Limited, Indonesia
- Kaltim Prima Coal - Indonesia
- Tamil Nadu electricity Board
- Jorong Barutama Greston.PT - Indonesia
- Dalmia Cement Bharat India
- Samtan Co., Ltd - South Korea
- Orica Australia Pty. Ltd.
- Mercuria Energy - Indonesia
- Mintek Dendrill Indonesia
- Singapore Mercantile Exchange
- PTC India Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Merrill Lynch Commodities Europe
- Attock Cement Pakistan Limited
- Madhucon Powers Ltd - India
- Eastern Coal Council - USA
- Billiton Holdings Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Generating Authority of Thailand
- Ministry of Mines - Canada
- CNBM International Corporation - China
- Ministry of Finance - Indonesia
- Toyota Tsusho Corporation, Japan
- Price Waterhouse Coopers - Russia
- Grasim Industreis Ltd - India
- Edison Trading Spa - Italy
- Wood Mackenzie - Singapore
- Metalloyd Limited - United Kingdom
- The State Trading Corporation of India Ltd
- Global Business Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vizag Seaport Private Limited - India
- Latin American Coal - Colombia
- Agrawal Coal Company - India
- GAC Shipping (India) Pvt Ltd
- Planning Commission, India
- Karaikal Port Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- McConnell Dowell - Australia
- European Bulk Services B.V. - Netherlands
- Indogreen Group - Indonesia
- Timah Investasi Mineral - Indoneisa
- Rio Tinto Coal - Australia
- ASAPP Information Group - India
- South Luzon Thermal Energy Corporation
- Deloitte Consulting - India
- Directorate General of MIneral and Coal - Indonesia
- Energy Link Ltd, New Zealand
- MS Steel International - UAE
- Georgia Ports Authority, United States
- Coal and Oil Company - UAE
- Asmin Koalindo Tuhup - Indonesia
- Wilmar Investment Holdings
- Formosa Plastics Group - Taiwan
- Kapuas Tunggal Persada - Indonesia
- Uttam Galva Steels Limited - India
- Economic Council, Georgia
- Posco Energy - South Korea
- Thai Mozambique Logistica
- Siam City Cement - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Energy - Thailand
- Standard Chartered Bank - UAE
- Banpu Public Company Limited - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- GMR Energy Limited - India
- Independent Power Producers Association of India
- Bhatia International Limited - India
- Bangladesh Power Developement Board
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