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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, 22 July 22
MARKET INSIGHT - INTERMODAL
Faced with uncertainty regarding the most cost-efficient alternative fuels and the future dominant method to reduce their greenhouse emissions, man ...
Friday, 22 July 22
YANCOAL AUSTRALIA CUTS 2022 COAL OUTPUT VIEW AS FLOODS, COVID BITE - REUTERS
Coal miner Yancoal Australia Ltd YAL.AX cut its 2022 output forecast on Wednesday, signalling a hit from higher-than-expected rainfall, COVID-19-le ...
Wednesday, 20 July 22
BOOST FOR BIOFUELS AS IMO REMOVES REGULATORY HURDLE - GARD
MARPOL Annex VI regulations were written for petroleum derived fuels but also apply to biofuels. It has been a challenge to meet the regulatory req ...
Wednesday, 20 July 22
INDONESIA’S COAL EXPORTS TO THE EU INCREASED SIGNIFICANTLY RECENTLY
European countries have increased coal imports from Indonesia due to the energy crisis that hit the region after Russia cuts gas exports to Europe. ...
Tuesday, 19 July 22
DRY BULK MARKET: CAPESIZE MARKET FIRMS THIS WEEK - BALTIC EXCHANGE
Capesize
Firmer sentiment across both basins pushed the Capesize 5TC route average above the $20,000 threshold this week, closing at $24,209. A ...
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- Kohat Cement Company Ltd. - Pakistan
- Trasteel International SA, Italy
- Heidelberg Cement - Germany
- Grasim Industreis Ltd - India
- Global Business Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Mjunction Services Limited - India
- Central Java Power - Indonesia
- Directorate Of Revenue Intelligence - India
- International Coal Ventures Pvt Ltd - India
- Ministry of Transport, Egypt
- Kalimantan Lumbung Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Uttam Galva Steels Limited - India
- Siam City Cement - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bulk Trading Sa - Switzerland
- Chamber of Mines of South Africa
- Cement Manufacturers Association - India
- Tata Chemicals Ltd - India
- Wood Mackenzie - Singapore
- Simpson Spence & Young - Indonesia
- Power Finance Corporation Ltd., India
- Rashtriya Ispat Nigam Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Coal and Oil Company - UAE
- Standard Chartered Bank - UAE
- Aboitiz Power Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Wilmar Investment Holdings
- Global Coal Blending Company Limited - Australia
- Australian Commodity Traders Exchange
- Siam City Cement PLC, Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining and Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Salva Resources Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Indian Energy Exchange, India
- Globalindo Alam Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Sical Logistics Limited - India
- Formosa Plastics Group - Taiwan
- Indika Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Indonesian Coal Mining Association
- Neyveli Lignite Corporation Ltd, - India
- Indian Oil Corporation Limited
- PNOC Exploration Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhatia International Limited - India
- Mercuria Energy - Indonesia
- Malabar Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Timah Investasi Mineral - Indoneisa
- Aditya Birla Group - India
- Lanco Infratech Ltd - India
- Parliament of New Zealand
- Georgia Ports Authority, United States
- Renaissance Capital - South Africa
- The Treasury - Australian Government
- CIMB Investment Bank - Malaysia
- Coalindo Energy - Indonesia
- PowerSource Philippines DevCo
- Romanian Commodities Exchange
- Economic Council, Georgia
- TNB Fuel Sdn Bhd - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- VISA Power Limited - India
- Eastern Coal Council - USA
- Kideco Jaya Agung - Indonesia
- Cigading International Bulk Terminal - Indonesia
- SMC Global Power, Philippines
- Barasentosa Lestari - Indonesia
- PTC India Limited - India
- Bangladesh Power Developement Board
- Parry Sugars Refinery, India
- IEA Clean Coal Centre - UK
- Karaikal Port Pvt Ltd - India
- GMR Energy Limited - India
- India Bulls Power Limited - India
- LBH Netherlands Bv - Netherlands
- White Energy Company Limited
- Kartika Selabumi Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Agrawal Coal Company - India
- Gujarat Sidhee Cement - India
- Kumho Petrochemical, South Korea
- Kobexindo Tractors - Indoneisa
- The State Trading Corporation of India Ltd
- Jaiprakash Power Ventures ltd
- Latin American Coal - Colombia
- Bahari Cakrawala Sebuku - Indonesia
- Larsen & Toubro Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Posco Energy - South Korea
- Planning Commission, India
- Therma Luzon, Inc, Philippines
- Electricity Generating Authority of Thailand
- Star Paper Mills Limited - India
- Independent Power Producers Association of India
- GAC Shipping (India) Pvt Ltd
- Jindal Steel & Power Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Marubeni Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Madhucon Powers Ltd - India
- Chettinad Cement Corporation Ltd - India
- Oldendorff Carriers - Singapore
- MS Steel International - UAE
- Eastern Energy - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Sinarmas Energy and Mining - Indonesia
- The University of Queensland
- Baramulti Group, Indonesia
- Energy Link Ltd, New Zealand
- Global Green Power PLC Corporation, Philippines
- Semirara Mining Corp, Philippines
- Electricity Authority, New Zealand
- Tamil Nadu electricity Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Edison Trading Spa - Italy
- London Commodity Brokers - England
- Petron Corporation, Philippines
- Mintek Dendrill Indonesia
- Manunggal Multi Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Maharashtra Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Deloitte Consulting - India
- Ambuja Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Ind-Barath Power Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- Ministry of Finance - Indonesia
- Borneo Indobara - Indonesia
- McConnell Dowell - Australia
- Xindia Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- Bhushan Steel Limited - India
- Sakthi Sugars Limited - India
- Sojitz Corporation - Japan
- New Zealand Coal & Carbon
- Bhoruka Overseas - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- San Jose City I Power Corp, Philippines
- Essar Steel Hazira Ltd - India
- Toyota Tsusho Corporation, Japan
- Vizag Seaport Private Limited - India
- Central Electricity Authority - India
- Anglo American - United Kingdom
- Videocon Industries ltd - India
- Intertek Mineral Services - Indonesia
- Thiess Contractors Indonesia
- Interocean Group of Companies - India
- CNBM International Corporation - China
- Attock Cement Pakistan Limited
- Vedanta Resources Plc - India
- Commonwealth Bank - Australia
- Thai Mozambique Logistica
- Carbofer General Trading SA - India
- AsiaOL BioFuels Corp., Philippines
- Ministry of Mines - Canada
- Leighton Contractors Pty Ltd - Australia
- ASAPP Information Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- SMG Consultants - Indonesia
- Makarim & Taira - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Goldman Sachs - Singapore
- Merrill Lynch Commodities Europe
- Orica Australia Pty. Ltd.
- Altura Mining Limited, Indonesia
- Meralco Power Generation, Philippines
- Singapore Mercantile Exchange
- Africa Commodities Group - South Africa
- Kepco SPC Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Indogreen Group - Indonesia
- Energy Development Corp, Philippines
- Mercator Lines Limited - India
- Bukit Baiduri Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Iligan Light & Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Rio Tinto Coal - Australia
- ICICI Bank Limited - India
- Dalmia Cement Bharat India
- Bharathi Cement Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Antam Resourcindo - Indonesia
- Australian Coal Association
- Samtan Co., Ltd - South Korea
- SN Aboitiz Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Mining Services - Indonesia
- Banpu Public Company Limited - Thailand
- South Luzon Thermal Energy Corporation
- Bukit Makmur.PT - Indonesia
- Minerals Council of Australia
- Pendopo Energi Batubara - Indonesia
- Price Waterhouse Coopers - Russia
- Binh Thuan Hamico - Vietnam
- IHS Mccloskey Coal Group - USA
- Savvy Resources Ltd - HongKong
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