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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, 19 July 22
WHY SHIPPING MIGHT BE ABOUT TO GET A LITTLE BIT SLOWER - WORLD ECONOMIC FORUM
If shipping is the beating heart of global trade, its pulse is about to get slower.
Faced with uncertainty about which fuels to use in the long ...
Tuesday, 19 July 22
GERMANY'S INCREASED COAL, OIL USE WILL BE TEMPORARY, SCHOLZ SAYS - CNBC
Chancellor Olaf Scholz says Germany’s decision to reactivate coal and oil-fired power plants to relieve energy shortages because of the war i ...
Tuesday, 19 July 22
INDONESIA REMOVES PALM OIL EXPORT LEVY UNTIL AUG. 31 - REUTERS
Indonesia has scrapped its export levy for all palm oil products until Aug. 31 in a fresh attempt to boost exports and ease high inventories, finan ...
Tuesday, 19 July 22
CHINA'S JUNE DAILY COAL OUTPUT JUMPS ON PEAK SUMMER DEMAND - REUTERS
China’s daily coal output in June rose 6.6 per cent from a month earlier as miners cranked up output ahead of peak summer temperatures, when ...
Tuesday, 19 July 22
SEEING RED? - WOOD MACKENZIE
What a Republican mid-term victory could mean for US energy and climate policy
According to current polling the Republican Party has ...
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- Ministry of Finance - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Deloitte Consulting - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Indonesian Coal Mining Association
- Straits Asia Resources Limited - Singapore
- International Coal Ventures Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Antam Resourcindo - Indonesia
- Ministry of Transport, Egypt
- Kepco SPC Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Jaiprakash Power Ventures ltd
- Videocon Industries ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Oil Corporation Limited
- Parry Sugars Refinery, India
- New Zealand Coal & Carbon
- PetroVietnam Power Coal Import and Supply Company
- Australian Coal Association
- Krishnapatnam Port Company Ltd. - India
- Agrawal Coal Company - India
- Edison Trading Spa - Italy
- Vijayanagar Sugar Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Sical Logistics Limited - India
- Binh Thuan Hamico - Vietnam
- Mercator Lines Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Commonwealth Bank - Australia
- Cigading International Bulk Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Electricity Generating Authority of Thailand
- Metalloyd Limited - United Kingdom
- Baramulti Group, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- Bank of Tokyo Mitsubishi UFJ Ltd
- Iligan Light & Power Inc, Philippines
- Independent Power Producers Association of India
- Petrochimia International Co. Ltd.- Taiwan
- Star Paper Mills Limited - India
- Meralco Power Generation, Philippines
- Indo Tambangraya Megah - Indonesia
- Wood Mackenzie - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bangladesh Power Developement Board
- Miang Besar Coal Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Economic Council, Georgia
- Thai Mozambique Logistica
- Rio Tinto Coal - Australia
- Electricity Authority, New Zealand
- Bharathi Cement Corporation - India
- Carbofer General Trading SA - India
- SN Aboitiz Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- The University of Queensland
- Cement Manufacturers Association - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- ASAPP Information Group - India
- GN Power Mariveles Coal Plant, Philippines
- Bukit Baiduri Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- India Bulls Power Limited - India
- Tata Chemicals Ltd - India
- Directorate Of Revenue Intelligence - India
- CNBM International Corporation - China
- GVK Power & Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- Kumho Petrochemical, South Korea
- Maheswari Brothers Coal Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Sarangani Energy Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Africa Commodities Group - South Africa
- OPG Power Generation Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Larsen & Toubro Limited - India
- Therma Luzon, Inc, Philippines
- The Treasury - Australian Government
- The State Trading Corporation of India Ltd
- Chamber of Mines of South Africa
- TeaM Sual Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Bhushan Steel Limited - India
- CIMB Investment Bank - Malaysia
- Ambuja Cements Ltd - India
- Marubeni Corporation - India
- Mintek Dendrill Indonesia
- Bhoruka Overseas - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Borneo Indobara - Indonesia
- Coal and Oil Company - UAE
- Singapore Mercantile Exchange
- Eastern Coal Council - USA
- European Bulk Services B.V. - Netherlands
- Xindia Steels Limited - India
- Barasentosa Lestari - Indonesia
- Indika Energy - Indonesia
- Latin American Coal - Colombia
- Heidelberg Cement - Germany
- IHS Mccloskey Coal Group - USA
- Globalindo Alam Lestari - Indonesia
- Central Java Power - Indonesia
- Sindya Power Generating Company Private Ltd
- Dalmia Cement Bharat India
- Orica Mining Services - Indonesia
- Malabar Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- McConnell Dowell - Australia
- Oldendorff Carriers - Singapore
- Tamil Nadu electricity Board
- London Commodity Brokers - England
- Ind-Barath Power Infra Limited - India
- Sree Jayajothi Cements Limited - India
- Attock Cement Pakistan Limited
- SMC Global Power, Philippines
- Leighton Contractors Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- PowerSource Philippines DevCo
- Banpu Public Company Limited - Thailand
- Romanian Commodities Exchange
- Indogreen Group - Indonesia
- Bhatia International Limited - India
- Energy Development Corp, Philippines
- Mercuria Energy - Indonesia
- Vizag Seaport Private Limited - India
- ICICI Bank Limited - India
- Coalindo Energy - Indonesia
- Renaissance Capital - South Africa
- Standard Chartered Bank - UAE
- Siam City Cement - Thailand
- Simpson Spence & Young - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Medco Energi Mining Internasional
- Bayan Resources Tbk. - Indonesia
- PTC India Limited - India
- San Jose City I Power Corp, Philippines
- PNOC Exploration Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Sojitz Corporation - Japan
- Karaikal Port Pvt Ltd - India
- Planning Commission, India
- Kideco Jaya Agung - Indonesia
- Gujarat Sidhee Cement - India
- Indian Energy Exchange, India
- Makarim & Taira - Indonesia
- Aboitiz Power Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Energy Link Ltd, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Price Waterhouse Coopers - Russia
- Trasteel International SA, Italy
- Goldman Sachs - Singapore
- Essar Steel Hazira Ltd - India
- Siam City Cement PLC, Thailand
- Vedanta Resources Plc - India
- Australian Commodity Traders Exchange
- Central Electricity Authority - India
- Thiess Contractors Indonesia
- IEA Clean Coal Centre - UK
- Parliament of New Zealand
- Wilmar Investment Holdings
- Merrill Lynch Commodities Europe
- Riau Bara Harum - Indonesia
- Timah Investasi Mineral - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Jorong Barutama Greston.PT - Indonesia
- Altura Mining Limited, Indonesia
- Mjunction Services Limited - India
- Toyota Tsusho Corporation, Japan
- Posco Energy - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Minerals Council of Australia
- Global Green Power PLC Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Formosa Plastics Group - Taiwan
- Global Business Power Corporation, Philippines
- GMR Energy Limited - India
- Eastern Energy - Thailand
- Aditya Birla Group - India
- Power Finance Corporation Ltd., India
- Ministry of Mines - Canada
- MS Steel International - UAE
- SMG Consultants - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Interocean Group of Companies - India
- Salva Resources Pvt Ltd - India
- Petron Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Georgia Ports Authority, United States
- Lanco Infratech Ltd - India
- Savvy Resources Ltd - HongKong
- South Luzon Thermal Energy Corporation
- VISA Power Limited - India
- Uttam Galva Steels Limited - India
- Anglo American - United Kingdom
- Sakthi Sugars Limited - India
- White Energy Company Limited
- Madhucon Powers Ltd - India
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