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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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Wednesday, 17 August 22
PAXOCEAN, HONG LAM MARINE AND BUREAU VERITAS SIGN MOU TO DEVELOP AMMONIA BUNKER VESSEL DESIGN - BUREAU VERITAS
PaxOcean Engineering Pte. Ltd. has signed a Memorandum of Understanding (MOU) with Singapore-based bunker vessel operator Hong Lam Marine and class ...
Wednesday, 17 August 22
GOODFUELSS ASIA-PACIFIC BRANCH KICKSTARTS SUSTAINABLE BIOFUEL DELIVERIES WITH NYK AS FIRST CLIENT - GOOD FUELS
GoodFuels, the leading biofuels pioneer for the global transport industry, has today announced that it has successfully supplied sustainable marine ...
Tuesday, 16 August 22
EU BAN ON RUSSIAN COAL IMPORTS COMES INTO FORCE - DEUTSCHE WELLE
The European Union banned Russian coal imports in response to the invasion of Ukraine as part of sanctions in April. Since then, it’s been sc ...
Thursday, 11 August 22
MARKET INSIGHT - INTERMODAL
On July 22nd, Ukraine signed a deal with Russia to release 22mn tons of grain from Ukraine’s 3 major ports (Yuzhny, Chornomorsk, Odesa). Such ...
Wednesday, 10 August 22
THE FUTURE OF COAL: EIGHT KEY THEMES FROM THE GLOBAL COAL FORUM - WOOD MACKENZIE
Coal investors face a multi-layered and unavoidable challenge: markets distorted by war, trade constraints and the existential threat of the energy ...
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- Aditya Birla Group - India
- Vedanta Resources Plc - India
- Chamber of Mines of South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sical Logistics Limited - India
- Bulk Trading Sa - Switzerland
- Global Green Power PLC Corporation, Philippines
- ICICI Bank Limited - India
- Barasentosa Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Mercuria Energy - Indonesia
- Singapore Mercantile Exchange
- GAC Shipping (India) Pvt Ltd
- Maharashtra Electricity Regulatory Commission - India
- GMR Energy Limited - India
- The Treasury - Australian Government
- PetroVietnam Power Coal Import and Supply Company
- Energy Development Corp, Philippines
- Makarim & Taira - Indonesia
- Kaltim Prima Coal - Indonesia
- Larsen & Toubro Limited - India
- Indian Oil Corporation Limited
- Thai Mozambique Logistica
- Posco Energy - South Korea
- Cement Manufacturers Association - India
- Independent Power Producers Association of India
- New Zealand Coal & Carbon
- London Commodity Brokers - England
- Siam City Cement PLC, Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Planning Commission, India
- Jorong Barutama Greston.PT - Indonesia
- Renaissance Capital - South Africa
- Malabar Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Heidelberg Cement - Germany
- Medco Energi Mining Internasional
- Gujarat Sidhee Cement - India
- Star Paper Mills Limited - India
- Iligan Light & Power Inc, Philippines
- Edison Trading Spa - Italy
- Ministry of Transport, Egypt
- Holcim Trading Pte Ltd - Singapore
- Kalimantan Lumbung Energi - Indonesia
- The University of Queensland
- Alfred C Toepfer International GmbH - Germany
- Aboitiz Power Corporation - Philippines
- Bhatia International Limited - India
- Antam Resourcindo - Indonesia
- Bhoruka Overseas - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- SMC Global Power, Philippines
- Deloitte Consulting - India
- Interocean Group of Companies - India
- Africa Commodities Group - South Africa
- Dalmia Cement Bharat India
- Tata Chemicals Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Intertek Mineral Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Agrawal Coal Company - India
- Coalindo Energy - Indonesia
- Thiess Contractors Indonesia
- Georgia Ports Authority, United States
- IEA Clean Coal Centre - UK
- Sinarmas Energy and Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Savvy Resources Ltd - HongKong
- Salva Resources Pvt Ltd - India
- Xindia Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bangladesh Power Developement Board
- Electricity Generating Authority of Thailand
- Central Java Power - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Energy Link Ltd, New Zealand
- McConnell Dowell - Australia
- Straits Asia Resources Limited - Singapore
- Sree Jayajothi Cements Limited - India
- Riau Bara Harum - Indonesia
- Latin American Coal - Colombia
- IHS Mccloskey Coal Group - USA
- LBH Netherlands Bv - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- Marubeni Corporation - India
- Meralco Power Generation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Australian Coal Association
- Sindya Power Generating Company Private Ltd
- Semirara Mining Corp, Philippines
- Eastern Coal Council - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- Romanian Commodities Exchange
- Parliament of New Zealand
- Timah Investasi Mineral - Indoneisa
- Goldman Sachs - Singapore
- Borneo Indobara - Indonesia
- Port Waratah Coal Services - Australia
- Attock Cement Pakistan Limited
- Sojitz Corporation - Japan
- Minerals Council of Australia
- OPG Power Generation Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Baramulti Group, Indonesia
- San Jose City I Power Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Sakthi Sugars Limited - India
- Bhushan Steel Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercator Lines Limited - India
- Parry Sugars Refinery, India
- Commonwealth Bank - Australia
- Standard Chartered Bank - UAE
- Directorate Of Revenue Intelligence - India
- Simpson Spence & Young - Indonesia
- Oldendorff Carriers - Singapore
- Power Finance Corporation Ltd., India
- Altura Mining Limited, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Toyota Tsusho Corporation, Japan
- Formosa Plastics Group - Taiwan
- Rio Tinto Coal - Australia
- VISA Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Mjunction Services Limited - India
- Orica Mining Services - Indonesia
- Merrill Lynch Commodities Europe
- Chettinad Cement Corporation Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Kapuas Tunggal Persada - Indonesia
- SMG Consultants - Indonesia
- India Bulls Power Limited - India
- Coal and Oil Company - UAE
- CNBM International Corporation - China
- Binh Thuan Hamico - Vietnam
- Lanco Infratech Ltd - India
- Ambuja Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Economic Council, Georgia
- Vizag Seaport Private Limited - India
- Bharathi Cement Corporation - India
- The State Trading Corporation of India Ltd
- TeaM Sual Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Carbofer General Trading SA - India
- Central Electricity Authority - India
- Bayan Resources Tbk. - Indonesia
- Metalloyd Limited - United Kingdom
- Bukit Makmur.PT - Indonesia
- Jindal Steel & Power Ltd - India
- Kobexindo Tractors - Indoneisa
- PTC India Limited - India
- Indogreen Group - Indonesia
- Australian Commodity Traders Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Videocon Industries ltd - India
- Essar Steel Hazira Ltd - India
- Petron Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Anglo American - United Kingdom
- Mintek Dendrill Indonesia
- ASAPP Information Group - India
- MS Steel International - UAE
- Electricity Authority, New Zealand
- Uttam Galva Steels Limited - India
- PNOC Exploration Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Bukit Baiduri Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Trasteel International SA, Italy
- Jaiprakash Power Ventures ltd
- Karaikal Port Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Wood Mackenzie - Singapore
- Kideco Jaya Agung - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Tamil Nadu electricity Board
- AsiaOL BioFuels Corp., Philippines
- European Bulk Services B.V. - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement - Thailand
- Ministry of Finance - Indonesia
- GVK Power & Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Indika Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Eastern Energy - Thailand
- Global Business Power Corporation, Philippines
- Ministry of Mines - Canada
- Indian Energy Exchange, India
- Madhucon Powers Ltd - India
- CIMB Investment Bank - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- White Energy Company Limited
- Indonesian Coal Mining Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Grasim Industreis Ltd - India
- SN Aboitiz Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- Indo Tambangraya Megah - Indonesia
- Therma Luzon, Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Wilmar Investment Holdings
- PowerSource Philippines DevCo
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