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Wednesday, 28 April 21
MARKET INSIGHT - INTERMODAL
 Despite the current challenges as a result of the global pandemic, 2021 is turning out to be a landmark year for the iron ore market with spot prices for the steel making commodity last week surpassing their February 2011 high of $US188 per tonne. Better Chinese steel prices have also allowed iron ore prices to float higher recently and they appear well supported by rising steel production in the Asian nation. Market experts support that prices could keep climbing and continue to believe that iron ore prices will stay elevated as long as steel mill margins in the world’s largest consumer, China, remain high. From a maritime perspective for seaborne transportation demand, we are overall very glad to see such strong fundamentals leading and driving these important markets, in what appears to be a broad positive sentiment for a key ingredient carried predominantly by Capesizes and very large ore carriers. The Baltic Exchange’s main sea freight index that tracks rates for ships carrying dry bulk commodities extended gains, rising to its highest since late 2010 on Thursday as Capesize rates jumped on strong Chinese iron ore demand. The Capesize market last week reached rate levels equivalent of last year’s highs. The 5TC rose $6,242 to settle at the end of the week at $34,762.
Looking further down the supply chain and at the steel production level, Chinese steel plants are also very active and currently receiving around $US780 per tonne for their steel reinforcing bar product which is used in construction projects for everything from bridges and buildings to infrastructure. This price for the end product, represents a 12-year high and low inventory levels in China are in general adding to the upward pressure on prices for steel products including rebar and hot rolled coil. Prices of rebar and hot-rolled coil in China, the world’s top steel producer, also continued the momentum and rose to record highs last week, underpinned by strong demand.
In the meantime we did notice reports of Beijing taking drastic actions to curb steel production to tackle air pollution around its industrial centres, which raised certain concerns in the market on what the actual effect might be ultimately. However, at least at the moment these actions seem quite unrealistic and perhaps linked to short-term pollution related issues. Furthermore there are headlines regarding China capping its steel production due to the high price of iron ore, but again it is only reasonable and evident that these steel mills are going to continue to produce a lot of steel if they can still sell it and generate good profits on it even though prices of the raw iron ore ingredient are high at around $US180 per tonne. This is another testament that the market dynamics for steel in China is pretty robust at the moment. A lot of the country’s steel production finds its way into the domestic local market where it is used in heavy construction and development for new cities and transport infrastructure that links these together. As a matter of fact, China’s government has set ambitious targets in its latest five-year plan, including a pledge to build 160 new airports and 32,000km of high-speed railway by 2035.
By Christopher Whitty,
Director, Towage & Marine Port Services
Compiled by:
Intermodal Research & Valuations
Analysts:
Ms Eva Tzima
Mr.George Panagopoulos
Disclaimer and legal disclosure: For any further queries please do not hesitate to contact our Research & Valuations Department. The information contained in this report has been obtained from various sources, as reported in the market. Intermodal Shipbrokers Co. believes such information to be factual and reliable without making guarantees regarding its accuracy or completeness. Whilst every care has been taken in the production of the above review, no liability can be accepted for any loss or damage incurred in any way whatsoever by any person who may seek to rely on the information and views contained in this material. This report is being produced for the internal use of the intended recipients only and no reproducing is allowed, without the prior written authorization of Intermodal Shipbrokers Co.
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Sunday, 18 April 21
WORLDSTEEL RAISES 2021 STEEL DEMAND GROWTH FORECAST TO 5.8% - WORLDSTEEL
The World Steel Association (worldsteel) today released its Short Range Outlook (SRO) for 2021 and 2022. worldsteel forecasts that steel demand wil ...
Sunday, 18 April 21
CHINA'S Q1 COAL OUTPUT RISES 16% ON STRONG DEMAND FOR WINTER HEATING - REUTERS
China’s coal output rose 16% in the first quarter from the same period last year, bolstered by strong demand for winter heating and robust in ...
Wednesday, 14 April 21
INDIA HAS A RECORD LEVEL OF STOCKPILED COAL DAMPENING NEED FOR NEW DOMESTIC MINES - IEEFA
Proposed coal mining expansions at odds with excess supply
India has stockpiled a record 132 million tonnes of coal – enough t ...
Wednesday, 14 April 21
BANGLADESH NEEDS A RENEWABLES FOCUS, NOT A SWITCH FROM 'COAL TO GAS' - IEEFA
Renewables are cheaper and more sustainable than gas imports, and can provide better energy security in developing nations
The emerg ...
Wednesday, 14 April 21
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX DOWN 1.10 PCT - XINHUA
China Taiyuan coal transaction price index stood at 138.05 points Monday, down 1.10 percent week on week.
The index, released by Chi ...
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- Heidelberg Cement - Germany
- Toyota Tsusho Corporation, Japan
- Karbindo Abesyapradhi - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Formosa Plastics Group - Taiwan
- Eastern Energy - Thailand
- International Coal Ventures Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Energy Link Ltd, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Salva Resources Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Global Business Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Indo Tambangraya Megah - Indonesia
- TeaM Sual Corporation - Philippines
- Altura Mining Limited, Indonesia
- Manunggal Multi Energi - Indonesia
- Africa Commodities Group - South Africa
- Videocon Industries ltd - India
- Agrawal Coal Company - India
- Central Java Power - Indonesia
- Tata Chemicals Ltd - India
- Samtan Co., Ltd - South Korea
- Uttam Galva Steels Limited - India
- Eastern Coal Council - USA
- Thai Mozambique Logistica
- Latin American Coal - Colombia
- Pipit Mutiara Jaya. PT, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Mines - Canada
- Sindya Power Generating Company Private Ltd
- Riau Bara Harum - Indonesia
- CIMB Investment Bank - Malaysia
- Bhatia International Limited - India
- Timah Investasi Mineral - Indoneisa
- Ministry of Transport, Egypt
- GMR Energy Limited - India
- Borneo Indobara - Indonesia
- Globalindo Alam Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Trasteel International SA, Italy
- Miang Besar Coal Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- LBH Netherlands Bv - Netherlands
- Intertek Mineral Services - Indonesia
- Economic Council, Georgia
- Essar Steel Hazira Ltd - India
- Ambuja Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Coal and Oil Company - UAE
- Power Finance Corporation Ltd., India
- Aboitiz Power Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Parliament of New Zealand
- The University of Queensland
- Larsen & Toubro Limited - India
- Therma Luzon, Inc, Philippines
- Vedanta Resources Plc - India
- SMC Global Power, Philippines
- Sakthi Sugars Limited - India
- Cement Manufacturers Association - India
- Gujarat Sidhee Cement - India
- Mercuria Energy - Indonesia
- Australian Commodity Traders Exchange
- Bukit Baiduri Energy - Indonesia
- GVK Power & Infra Limited - India
- Indian Oil Corporation Limited
- Port Waratah Coal Services - Australia
- Mintek Dendrill Indonesia
- Goldman Sachs - Singapore
- PowerSource Philippines DevCo
- Renaissance Capital - South Africa
- Wood Mackenzie - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Savvy Resources Ltd - HongKong
- Bangladesh Power Developement Board
- Sical Logistics Limited - India
- Kumho Petrochemical, South Korea
- Kartika Selabumi Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Interocean Group of Companies - India
- Sree Jayajothi Cements Limited - India
- Baramulti Group, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chamber of Mines of South Africa
- Tamil Nadu electricity Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate Of Revenue Intelligence - India
- Aditya Birla Group - India
- Asmin Koalindo Tuhup - Indonesia
- Binh Thuan Hamico - Vietnam
- Straits Asia Resources Limited - Singapore
- Kapuas Tunggal Persada - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- India Bulls Power Limited - India
- Thiess Contractors Indonesia
- ICICI Bank Limited - India
- Star Paper Mills Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Antam Resourcindo - Indonesia
- Sojitz Corporation - Japan
- Ind-Barath Power Infra Limited - India
- Deloitte Consulting - India
- CNBM International Corporation - China
- Energy Development Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Marubeni Corporation - India
- Semirara Mining and Power Corporation, Philippines
- McConnell Dowell - Australia
- Coalindo Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Mercator Lines Limited - India
- Petron Corporation, Philippines
- Romanian Commodities Exchange
- Indonesian Coal Mining Association
- ASAPP Information Group - India
- Siam City Cement - Thailand
- Kepco SPC Power Corporation, Philippines
- Indian Energy Exchange, India
- Rashtriya Ispat Nigam Limited - India
- Ceylon Electricity Board - Sri Lanka
- Grasim Industreis Ltd - India
- Jindal Steel & Power Ltd - India
- VISA Power Limited - India
- Bayan Resources Tbk. - Indonesia
- London Commodity Brokers - England
- Minerals Council of Australia
- Bukit Makmur.PT - Indonesia
- Parry Sugars Refinery, India
- AsiaOL BioFuels Corp., Philippines
- Meralco Power Generation, Philippines
- Kideco Jaya Agung - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Krishnapatnam Port Company Ltd. - India
- Electricity Authority, New Zealand
- Bharathi Cement Corporation - India
- Ministry of Finance - Indonesia
- Australian Coal Association
- Electricity Generating Authority of Thailand
- IHS Mccloskey Coal Group - USA
- Cigading International Bulk Terminal - Indonesia
- Central Electricity Authority - India
- Orica Mining Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Rio Tinto Coal - Australia
- Siam City Cement PLC, Thailand
- Georgia Ports Authority, United States
- Wilmar Investment Holdings
- Sinarmas Energy and Mining - Indonesia
- The State Trading Corporation of India Ltd
- Lanco Infratech Ltd - India
- Mjunction Services Limited - India
- Chettinad Cement Corporation Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Edison Trading Spa - Italy
- Oldendorff Carriers - Singapore
- Posco Energy - South Korea
- Indogreen Group - Indonesia
- Makarim & Taira - Indonesia
- Carbofer General Trading SA - India
- Indika Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Price Waterhouse Coopers - Russia
- Semirara Mining Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- White Energy Company Limited
- SN Aboitiz Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Barasentosa Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Anglo American - United Kingdom
- South Luzon Thermal Energy Corporation
- SMG Consultants - Indonesia
- MS Steel International - UAE
- Merrill Lynch Commodities Europe
- OPG Power Generation Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Medco Energi Mining Internasional
- Bhoruka Overseas - Indonesia
- Xindia Steels Limited - India
- Bhushan Steel Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Malabar Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Australia Pty. Ltd.
- IEA Clean Coal Centre - UK
- Kohat Cement Company Ltd. - Pakistan
- PTC India Limited - India
- New Zealand Coal & Carbon
- Madhucon Powers Ltd - India
- San Jose City I Power Corp, Philippines
- Planning Commission, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Commonwealth Bank - Australia
- Attock Cement Pakistan Limited
- The Treasury - Australian Government
- Bulk Trading Sa - Switzerland
- Global Green Power PLC Corporation, Philippines
- Independent Power Producers Association of India
- PNOC Exploration Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Maheswari Brothers Coal Limited - India
- Singapore Mercantile Exchange
- Standard Chartered Bank - UAE
- Dalmia Cement Bharat India
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