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