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