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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, 02 September 22
ABM INVESTAMA BUYS 30% GEMS SHARES FOR US$ 420 MILLION
PT ABM Investama Tbk through its indirect subsidiary, bought a 30% stake in the PT Golden Energy Mines Tbk for US$ 420 million or around Rp 6.2 tri ...
Wednesday, 31 August 22
MARKET INSIGHT - INTERMODAL
Scorching temperatures and extremely dry conditions during the Northern hemisphere summer have been drying crops. Yield prospects have subsided in ...
Tuesday, 23 August 22
HIGH COAL PRICES COULD BOOST INDONESIA'S ENERGY TRANSITION - IEEFA
Global coal prices have reached an all-time high as countries stop purchasing Russian coal amidst the Russia-Ukraine conflict. Indonesian coal comp ...
Tuesday, 23 August 22
A COMBINED US$6.8-BILLION CASH BALANCE OF INDONESIAN COAL COMPANIES COULD PROVIDE FOR TIMELY INVESTMENTS IN GREEN TRANSITION - IEEFA
A combined US$6.8-billion cash balance of Indonesian coal companies could provide for timely investments in green transition
The opp ...
Tuesday, 23 August 22
SHIPPING INDUSTRY TO REMOVE THE INDIAN OCEAN HIGH RISK AREA - BIMCO
After more than a decade of effective threat-reducing counter-piracy operations the shipping industry has removed the ‘Indian Ocean High Risk ...
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- Kalimantan Lumbung Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Jorong Barutama Greston.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Chettinad Cement Corporation Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Barasentosa Lestari - Indonesia
- Energy Development Corp, Philippines
- Orica Mining Services - Indonesia
- Ministry of Transport, Egypt
- Asmin Koalindo Tuhup - Indonesia
- Binh Thuan Hamico - Vietnam
- Semirara Mining Corp, Philippines
- ICICI Bank Limited - India
- Romanian Commodities Exchange
- Central Java Power - Indonesia
- Sindya Power Generating Company Private Ltd
- Siam City Cement PLC, Thailand
- International Coal Ventures Pvt Ltd - India
- Indika Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Pendopo Energi Batubara - Indonesia
- Mjunction Services Limited - India
- Price Waterhouse Coopers - Russia
- Bahari Cakrawala Sebuku - Indonesia
- Independent Power Producers Association of India
- Orica Australia Pty. Ltd.
- London Commodity Brokers - England
- Indonesian Coal Mining Association
- Altura Mining Limited, Indonesia
- SMG Consultants - Indonesia
- Indian Energy Exchange, India
- Lanco Infratech Ltd - India
- IHS Mccloskey Coal Group - USA
- Global Coal Blending Company Limited - Australia
- Miang Besar Coal Terminal - Indonesia
- Vizag Seaport Private Limited - India
- Standard Chartered Bank - UAE
- PowerSource Philippines DevCo
- Kohat Cement Company Ltd. - Pakistan
- San Jose City I Power Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Leighton Contractors Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Australian Coal Association
- Bhushan Steel Limited - India
- Savvy Resources Ltd - HongKong
- Mercator Lines Limited - India
- Australian Commodity Traders Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Straits Asia Resources Limited - Singapore
- Salva Resources Pvt Ltd - India
- Commonwealth Bank - Australia
- Kepco SPC Power Corporation, Philippines
- Indian Oil Corporation Limited
- Mercuria Energy - Indonesia
- New Zealand Coal & Carbon
- South Luzon Thermal Energy Corporation
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Mines - Canada
- Latin American Coal - Colombia
- Energy Link Ltd, New Zealand
- Minerals Council of Australia
- Coalindo Energy - Indonesia
- The Treasury - Australian Government
- SN Aboitiz Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Dalmia Cement Bharat India
- Sical Logistics Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Trasteel International SA, Italy
- Central Electricity Authority - India
- Star Paper Mills Limited - India
- Vedanta Resources Plc - India
- Renaissance Capital - South Africa
- Tata Chemicals Ltd - India
- VISA Power Limited - India
- Indogreen Group - Indonesia
- Thiess Contractors Indonesia
- White Energy Company Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Simpson Spence & Young - Indonesia
- Singapore Mercantile Exchange
- Meralco Power Generation, Philippines
- Edison Trading Spa - Italy
- Karbindo Abesyapradhi - Indoneisa
- Makarim & Taira - Indonesia
- Maheswari Brothers Coal Limited - India
- Global Business Power Corporation, Philippines
- Parry Sugars Refinery, India
- Billiton Holdings Pty Ltd - Australia
- Wilmar Investment Holdings
- Electricity Authority, New Zealand
- Global Green Power PLC Corporation, Philippines
- Anglo American - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Posco Energy - South Korea
- Kumho Petrochemical, South Korea
- Bayan Resources Tbk. - Indonesia
- Marubeni Corporation - India
- Chamber of Mines of South Africa
- Sojitz Corporation - Japan
- India Bulls Power Limited - India
- Deloitte Consulting - India
- Globalindo Alam Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Planning Commission, India
- Coastal Gujarat Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Merrill Lynch Commodities Europe
- Riau Bara Harum - Indonesia
- Sree Jayajothi Cements Limited - India
- Jindal Steel & Power Ltd - India
- Bhatia International Limited - India
- Bhoruka Overseas - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Port Waratah Coal Services - Australia
- Wood Mackenzie - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Madhucon Powers Ltd - India
- Thai Mozambique Logistica
- Medco Energi Mining Internasional
- Sakthi Sugars Limited - India
- Kobexindo Tractors - Indoneisa
- Xindia Steels Limited - India
- Uttam Galva Steels Limited - India
- Parliament of New Zealand
- PNOC Exploration Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Vijayanagar Sugar Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- PTC India Limited - India
- Agrawal Coal Company - India
- Therma Luzon, Inc, Philippines
- Bangladesh Power Developement Board
- Bukit Makmur.PT - Indonesia
- Baramulti Group, Indonesia
- Ministry of Finance - Indonesia
- MS Steel International - UAE
- Eastern Coal Council - USA
- Siam City Cement - Thailand
- Eastern Energy - Thailand
- Bulk Trading Sa - Switzerland
- Bank of Tokyo Mitsubishi UFJ Ltd
- Formosa Plastics Group - Taiwan
- McConnell Dowell - Australia
- Karaikal Port Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- Directorate Of Revenue Intelligence - India
- Economic Council, Georgia
- Coal and Oil Company - UAE
- SMC Global Power, Philippines
- Samtan Co., Ltd - South Korea
- Indo Tambangraya Megah - Indonesia
- Meenaskhi Energy Private Limited - India
- TeaM Sual Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Bharathi Cement Corporation - India
- Tamil Nadu electricity Board
- Borneo Indobara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Interocean Group of Companies - India
- PetroVietnam Power Coal Import and Supply Company
- Georgia Ports Authority, United States
- Aditya Birla Group - India
- Mintek Dendrill Indonesia
- Africa Commodities Group - South Africa
- Metalloyd Limited - United Kingdom
- Rio Tinto Coal - Australia
- Antam Resourcindo - Indonesia
- CNBM International Corporation - China
- IEA Clean Coal Centre - UK
- Malabar Cements Ltd - India
- Carbofer General Trading SA - India
- Jaiprakash Power Ventures ltd
- Banpu Public Company Limited - Thailand
- Gujarat Sidhee Cement - India
- Holcim Trading Pte Ltd - Singapore
- Intertek Mineral Services - Indonesia
- GVK Power & Infra Limited - India
- Heidelberg Cement - Germany
- Videocon Industries ltd - India
- Larsen & Toubro Limited - India
- Bukit Baiduri Energy - Indonesia
- Electricity Generating Authority of Thailand
- Sarangani Energy Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Ambuja Cements Ltd - India
- GMR Energy Limited - India
- Rashtriya Ispat Nigam Limited - India
- European Bulk Services B.V. - Netherlands
- Kideco Jaya Agung - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Petron Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Goldman Sachs - Singapore
- Oldendorff Carriers - Singapore
- AsiaOL BioFuels Corp., Philippines
- ASAPP Information Group - India
- Grasim Industreis Ltd - India
- The University of Queensland
- LBH Netherlands Bv - Netherlands
- Kartika Selabumi Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Cement Manufacturers Association - India
- OPG Power Generation Pvt Ltd - India
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