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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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Tuesday, 26 July 22
WILL SOUTH AMERICA’S WINTER DEMAND DRAW LNG CARGOES AWAY FROM EUROPE? - ICIS
South America is now in the middle of its winter demand season. Last year the region increased its share of global LNG imports in winter, with Braz ...
Monday, 25 July 22
GLOBAL 2021 COAL-FIRED ELECTRICITY GENERATION SURGES TO RECORD HIGH - REUTERS
By contrast, mine output was still fractionally below the record set between 2012 and 2014 because older and less efficient coal generators have be ...
Saturday, 23 July 22
THE EU HAS BEEN REDUCING IMPORTS OF RUSSIAN REFINED OIL PRODUCTS SINCE MARCH - BANCHERO COSTA
The European Union could now ban the import and transit of fuel oil from Russia around six months ahead of the planned deadline, an EU official and ...
Saturday, 23 July 22
INDONESIA CONSIDERING SCRAPPING DOMESTIC SALES RULE FOR PALM OIL EXPORTS - REUTERS
Indonesia is considering removing a domestic sales requirement for palm oil exports because high inventories of the vegetable oil have been holding ...
Saturday, 23 July 22
STABILITY OF RUSSIAN GAS FLOWS REMAIN UNCERTAIN, DESPITE THE REOPENING OF NORD STREAM - WOOD MACKENZIE
Gazprom confirmed today that regular annual maintenance of Nord Stream is officially over and gas flows restarted at 63 million cubic metres per da ...
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Eastern Coal Council - USA
- Energy Link Ltd, New Zealand
- Aboitiz Power Corporation - Philippines
- Makarim & Taira - Indonesia
- SMC Global Power, Philippines
- London Commodity Brokers - England
- ASAPP Information Group - India
- Xindia Steels Limited - India
- Commonwealth Bank - Australia
- Indian Energy Exchange, India
- Bhatia International Limited - India
- Sakthi Sugars Limited - India
- Mintek Dendrill Indonesia
- PetroVietnam Power Coal Import and Supply Company
- AsiaOL BioFuels Corp., Philippines
- Wood Mackenzie - Singapore
- Mjunction Services Limited - India
- Essar Steel Hazira Ltd - India
- Ministry of Mines - Canada
- The University of Queensland
- PowerSource Philippines DevCo
- Ministry of Finance - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Lanco Infratech Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- India Bulls Power Limited - India
- Sarangani Energy Corporation, Philippines
- Madhucon Powers Ltd - India
- Renaissance Capital - South Africa
- IHS Mccloskey Coal Group - USA
- Agrawal Coal Company - India
- Latin American Coal - Colombia
- Sical Logistics Limited - India
- Romanian Commodities Exchange
- Price Waterhouse Coopers - Russia
- Bukit Baiduri Energy - Indonesia
- Coalindo Energy - Indonesia
- Meralco Power Generation, Philippines
- Antam Resourcindo - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Star Paper Mills Limited - India
- Wilmar Investment Holdings
- Karaikal Port Pvt Ltd - India
- Mercuria Energy - Indonesia
- Singapore Mercantile Exchange
- Riau Bara Harum - Indonesia
- Carbofer General Trading SA - India
- Kobexindo Tractors - Indoneisa
- Directorate Of Revenue Intelligence - India
- Chamber of Mines of South Africa
- Merrill Lynch Commodities Europe
- Indogreen Group - Indonesia
- PNOC Exploration Corporation - Philippines
- Global Business Power Corporation, Philippines
- Interocean Group of Companies - India
- Indo Tambangraya Megah - Indonesia
- Siam City Cement PLC, Thailand
- Attock Cement Pakistan Limited
- Toyota Tsusho Corporation, Japan
- Kartika Selabumi Mining - Indonesia
- Altura Mining Limited, Indonesia
- New Zealand Coal & Carbon
- Kalimantan Lumbung Energi - Indonesia
- The State Trading Corporation of India Ltd
- Semirara Mining Corp, Philippines
- Baramulti Group, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Vizag Seaport Private Limited - India
- Minerals Council of Australia
- Bulk Trading Sa - Switzerland
- SN Aboitiz Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kohat Cement Company Ltd. - Pakistan
- Karbindo Abesyapradhi - Indoneisa
- Edison Trading Spa - Italy
- Maheswari Brothers Coal Limited - India
- Chettinad Cement Corporation Ltd - India
- Port Waratah Coal Services - Australia
- Siam City Cement - Thailand
- South Luzon Thermal Energy Corporation
- Borneo Indobara - Indonesia
- Indonesian Coal Mining Association
- Tamil Nadu electricity Board
- Goldman Sachs - Singapore
- Kumho Petrochemical, South Korea
- Central Java Power - Indonesia
- Metalloyd Limited - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Gujarat Sidhee Cement - India
- The Treasury - Australian Government
- San Jose City I Power Corp, Philippines
- Barasentosa Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pendopo Energi Batubara - Indonesia
- Sree Jayajothi Cements Limited - India
- CIMB Investment Bank - Malaysia
- Heidelberg Cement - Germany
- Formosa Plastics Group - Taiwan
- Medco Energi Mining Internasional
- ICICI Bank Limited - India
- Posco Energy - South Korea
- Ind-Barath Power Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Marubeni Corporation - India
- Bukit Makmur.PT - Indonesia
- Bhushan Steel Limited - India
- SMG Consultants - Indonesia
- Aditya Birla Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bhoruka Overseas - Indonesia
- Planning Commission, India
- Orica Mining Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Georgia Ports Authority, United States
- Global Coal Blending Company Limited - Australia
- LBH Netherlands Bv - Netherlands
- McConnell Dowell - Australia
- Parry Sugars Refinery, India
- Billiton Holdings Pty Ltd - Australia
- CNBM International Corporation - China
- Petrochimia International Co. Ltd.- Taiwan
- Simpson Spence & Young - Indonesia
- Meenaskhi Energy Private Limited - India
- Banpu Public Company Limited - Thailand
- VISA Power Limited - India
- Bangladesh Power Developement Board
- Grasim Industreis Ltd - India
- Kepco SPC Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- GMR Energy Limited - India
- Deloitte Consulting - India
- PTC India Limited - India
- Australian Commodity Traders Exchange
- Independent Power Producers Association of India
- Australian Coal Association
- Ministry of Transport, Egypt
- Rio Tinto Coal - Australia
- Eastern Energy - Thailand
- Ceylon Electricity Board - Sri Lanka
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining and Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- GAC Shipping (India) Pvt Ltd
- Cement Manufacturers Association - India
- Thiess Contractors Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Economic Council, Georgia
- Energy Development Corp, Philippines
- Power Finance Corporation Ltd., India
- Kaltim Prima Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Standard Chartered Bank - UAE
- Directorate General of MIneral and Coal - Indonesia
- Coastal Gujarat Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Samtan Co., Ltd - South Korea
- GVK Power & Infra Limited - India
- Therma Luzon, Inc, Philippines
- Intertek Mineral Services - Indonesia
- Electricity Authority, New Zealand
- Thai Mozambique Logistica
- Bukit Asam (Persero) Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Anglo American - United Kingdom
- Tata Chemicals Ltd - India
- Petron Corporation, Philippines
- Sojitz Corporation - Japan
- Ambuja Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- Parliament of New Zealand
- Gujarat Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Videocon Industries ltd - India
- IEA Clean Coal Centre - UK
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Indian Oil Corporation Limited
- TeaM Sual Corporation - Philippines
- MS Steel International - UAE
- Binh Thuan Hamico - Vietnam
- Bharathi Cement Corporation - India
- Indika Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Trasteel International SA, Italy
- Mercator Lines Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Oldendorff Carriers - Singapore
- Africa Commodities Group - South Africa
- Dalmia Cement Bharat India
- Jaiprakash Power Ventures ltd
- Vedanta Resources Plc - India
- European Bulk Services B.V. - Netherlands
- Uttam Galva Steels Limited - India
- Coal and Oil Company - UAE
- Leighton Contractors Pty Ltd - Australia
- Malabar Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Central Electricity Authority - India
- Larsen & Toubro Limited - India
- Orica Australia Pty. Ltd.
- White Energy Company Limited
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