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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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Saturday, 20 August 22
KOSPO TO IMPORT 240000 MT OF MIN 4400 KCAL/KG NCV STEAM COAL FOR OCTOBER;LOADING FROM RUSSIAN PORTS NOT ALLOWED
COALspot.com: Korea Southern Power Co., Ltd. (KOSPO) has issued an International tender for 240,000 MT of min 4,400kcal/kg to max. 4,999 kcal/kg NC ...
Wednesday, 17 August 22
INDIAN COMPANIES SWAPPING DOLLAR FOR ASIAN CURRENCIES TO BUY RUSSIAN COAL - REUTERS
Indian companies are using Asian currencies more often to pay for Russian coal imports, according to customs documents and industry sources, avoidi ...
Wednesday, 17 August 22
LNG: MAJOR INVESTMENT AND EXPANSION PHASE, DOUBLING OF LIQUEFACTION CAPACITY BY 2028 PROJECTED - CLARKSONS
Clarksons Research have released the latest version of their long standing annual review, LNG Trade & Transport, on to Shipping Intelligence Ne ...
Wednesday, 17 August 22
UNAFFORDABLE LNG PRICES UNDERMINE RAPID DEMAND GROWTH FORECASTS IN KEY ASIAN MARKETS - IEEFA
Sustained high prices may accelerate downward pressures on Asian LNG demand, clouding long-term industry outlooks
The global liquefi ...
Wednesday, 17 August 22
CHINA'S COAL-RICH SHANXI MAKES STRIDES IN HIGH-QUALITY DEVELOPMENT - XINHUA
Shanxi, a major coal-producing province in north China, has made continuous advances in high-quality development over the past decade, according to ...
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- ASAPP Information Group - India
- Ministry of Transport, Egypt
- Merrill Lynch Commodities Europe
- Standard Chartered Bank - UAE
- Power Finance Corporation Ltd., India
- CIMB Investment Bank - Malaysia
- The Treasury - Australian Government
- Indika Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Port Waratah Coal Services - Australia
- Bhatia International Limited - India
- Sakthi Sugars Limited - India
- Xindia Steels Limited - India
- Jindal Steel & Power Ltd - India
- Indian Oil Corporation Limited
- Central Java Power - Indonesia
- New Zealand Coal & Carbon
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Electricity Authority - India
- Global Green Power PLC Corporation, Philippines
- London Commodity Brokers - England
- Eastern Energy - Thailand
- Globalindo Alam Lestari - Indonesia
- Thai Mozambique Logistica
- TNB Fuel Sdn Bhd - Malaysia
- Sindya Power Generating Company Private Ltd
- Sical Logistics Limited - India
- Indonesian Coal Mining Association
- Sojitz Corporation - Japan
- Malabar Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- The University of Queensland
- Singapore Mercantile Exchange
- Mintek Dendrill Indonesia
- Energy Link Ltd, New Zealand
- Aboitiz Power Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Vedanta Resources Plc - India
- Planning Commission, India
- Kobexindo Tractors - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Sarangani Energy Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Vizag Seaport Private Limited - India
- Thiess Contractors Indonesia
- Cigading International Bulk Terminal - Indonesia
- Coalindo Energy - Indonesia
- VISA Power Limited - India
- Larsen & Toubro Limited - India
- SMG Consultants - Indonesia
- Bangladesh Power Developement Board
- MS Steel International - UAE
- Trasteel International SA, Italy
- Africa Commodities Group - South Africa
- Minerals Council of Australia
- Kartika Selabumi Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Marubeni Corporation - India
- Electricity Authority, New Zealand
- Heidelberg Cement - Germany
- Bukit Baiduri Energy - Indonesia
- Mercator Lines Limited - India
- GVK Power & Infra Limited - India
- The State Trading Corporation of India Ltd
- Semirara Mining Corp, Philippines
- Barasentosa Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Borneo Indobara - Indonesia
- Simpson Spence & Young - Indonesia
- Bhoruka Overseas - Indonesia
- Ambuja Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Banpu Public Company Limited - Thailand
- San Jose City I Power Corp, Philippines
- Mjunction Services Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Coal Association
- Georgia Ports Authority, United States
- Makarim & Taira - Indonesia
- South Luzon Thermal Energy Corporation
- Kideco Jaya Agung - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Grasim Industreis Ltd - India
- Deloitte Consulting - India
- Edison Trading Spa - Italy
- LBH Netherlands Bv - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Commonwealth Bank - Australia
- Intertek Mineral Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- TeaM Sual Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Bhushan Steel Limited - India
- Renaissance Capital - South Africa
- Siam City Cement - Thailand
- Electricity Generating Authority of Thailand
- Cement Manufacturers Association - India
- Formosa Plastics Group - Taiwan
- International Coal Ventures Pvt Ltd - India
- Wilmar Investment Holdings
- Kepco SPC Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Bayan Resources Tbk. - Indonesia
- Chamber of Mines of South Africa
- Carbofer General Trading SA - India
- Dalmia Cement Bharat India
- Savvy Resources Ltd - HongKong
- Essar Steel Hazira Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Rio Tinto Coal - Australia
- SMC Global Power, Philippines
- Global Coal Blending Company Limited - Australia
- Baramulti Group, Indonesia
- Interocean Group of Companies - India
- Australian Commodity Traders Exchange
- Maheswari Brothers Coal Limited - India
- Global Business Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- McConnell Dowell - Australia
- Gujarat Sidhee Cement - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercuria Energy - Indonesia
- Madhucon Powers Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Altura Mining Limited, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- GMR Energy Limited - India
- White Energy Company Limited
- Kaltim Prima Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Attock Cement Pakistan Limited
- PetroVietnam Power Coal Import and Supply Company
- Uttam Galva Steels Limited - India
- Coastal Gujarat Power Limited - India
- Tamil Nadu electricity Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bharathi Cement Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Orica Australia Pty. Ltd.
- Indian Energy Exchange, India
- Metalloyd Limited - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Star Paper Mills Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining and Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Orica Mining Services - Indonesia
- Bukit Makmur.PT - Indonesia
- Eastern Coal Council - USA
- Directorate Of Revenue Intelligence - India
- CNBM International Corporation - China
- Gujarat Mineral Development Corp Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Riau Bara Harum - Indonesia
- Meenaskhi Energy Private Limited - India
- Ind-Barath Power Infra Limited - India
- Samtan Co., Ltd - South Korea
- Aditya Birla Group - India
- Ministry of Finance - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Economic Council, Georgia
- European Bulk Services B.V. - Netherlands
- Agrawal Coal Company - India
- Price Waterhouse Coopers - Russia
- Jaiprakash Power Ventures ltd
- Energy Development Corp, Philippines
- Latin American Coal - Colombia
- Parry Sugars Refinery, India
- Posco Energy - South Korea
- India Bulls Power Limited - India
- Manunggal Multi Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- PTC India Limited - India
- Salva Resources Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Anglo American - United Kingdom
- Romanian Commodities Exchange
- OPG Power Generation Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Sree Jayajothi Cements Limited - India
- Kumho Petrochemical, South Korea
- Antam Resourcindo - Indonesia
- Lanco Infratech Ltd - India
- IEA Clean Coal Centre - UK
- Coal and Oil Company - UAE
- Tata Chemicals Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Medco Energi Mining Internasional
- Meralco Power Generation, Philippines
- Indogreen Group - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Independent Power Producers Association of India
- Binh Thuan Hamico - Vietnam
- Videocon Industries ltd - India
- Ceylon Electricity Board - Sri Lanka
- Therma Luzon, Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Parliament of New Zealand
- GAC Shipping (India) Pvt Ltd
- Kalimantan Lumbung Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- ICICI Bank Limited - India
- Toyota Tsusho Corporation, Japan
- PowerSource Philippines DevCo
- IHS Mccloskey Coal Group - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chettinad Cement Corporation Ltd - India
- Ministry of Mines - Canada
- Petron Corporation, Philippines
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