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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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Wednesday, 07 April 21
MARKET INSIGHT - INTERMODAL
Following the end of the catholic easter, during which the majority of shipping market participants were on holidays, it is interesting to note a f ...
Wednesday, 07 April 21
COAL USED TO GENERATE ELECTRIC POWER IN U.S. WILL INCREASE BY 13 PERCENT TO 495 MMST IN 2021 - EIA
EIA expects U.S. coal production to total 585 MMst in 2021, 46 MMst (9%) more than in 2020. In 2022, EIA expects coal production to grow by an addi ...
Wednesday, 31 March 21
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP 0.12 PCT - XINHUA
China Taiyuan coal transaction price index stood at 139.03 points Monday, up 0.12 percent week on week.
The index, released by China ...
Wednesday, 31 March 21
MARKET INSIGHT - INTERMODAL
Over the past week, the biggest story has been the blockage of the Suez Canal, as a result of the grounding of the container ship Ever Given. At th ...
Monday, 29 March 21
MOODY'S: OUTLOOK FOR GLOBAL METALS AND MINING INDUSTRY TURNS POSITIVE ON HIGHER EBITDA IN PANDEMIC'S WAKE
- Demand for steel, iron ore and copper will rise, while aluminum, nickel and zinc will remain in surplus
- EBITDA is expected to ...
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- Carbofer General Trading SA - India
- Bharathi Cement Corporation - India
- Gujarat Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- Central Electricity Authority - India
- European Bulk Services B.V. - Netherlands
- The State Trading Corporation of India Ltd
- Vizag Seaport Private Limited - India
- Kumho Petrochemical, South Korea
- Energy Link Ltd, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- GN Power Mariveles Coal Plant, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Bangladesh Power Developement Board
- Vedanta Resources Plc - India
- Antam Resourcindo - Indonesia
- CNBM International Corporation - China
- Kohat Cement Company Ltd. - Pakistan
- Kartika Selabumi Mining - Indonesia
- Simpson Spence & Young - Indonesia
- Banpu Public Company Limited - Thailand
- OPG Power Generation Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- TeaM Sual Corporation - Philippines
- Madhucon Powers Ltd - India
- Billiton Holdings Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Coalindo Energy - Indonesia
- Altura Mining Limited, Indonesia
- Indogreen Group - Indonesia
- White Energy Company Limited
- Borneo Indobara - Indonesia
- CIMB Investment Bank - Malaysia
- Star Paper Mills Limited - India
- Electricity Generating Authority of Thailand
- Eastern Coal Council - USA
- Singapore Mercantile Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wood Mackenzie - Singapore
- Indian Oil Corporation Limited
- Sarangani Energy Corporation, Philippines
- Jindal Steel & Power Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Krishnapatnam Port Company Ltd. - India
- Sojitz Corporation - Japan
- Chamber of Mines of South Africa
- Chettinad Cement Corporation Ltd - India
- Baramulti Group, Indonesia
- Globalindo Alam Lestari - Indonesia
- Central Java Power - Indonesia
- PTC India Limited - India
- London Commodity Brokers - England
- Gujarat Mineral Development Corp Ltd - India
- Price Waterhouse Coopers - Russia
- Bhushan Steel Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Anglo American - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Meralco Power Generation, Philippines
- Larsen & Toubro Limited - India
- Indonesian Coal Mining Association
- San Jose City I Power Corp, Philippines
- Agrawal Coal Company - India
- Global Business Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Merrill Lynch Commodities Europe
- TNB Fuel Sdn Bhd - Malaysia
- IEA Clean Coal Centre - UK
- GAC Shipping (India) Pvt Ltd
- Sindya Power Generating Company Private Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Economic Council, Georgia
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Finance - Indonesia
- Intertek Mineral Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Parliament of New Zealand
- Ministry of Mines - Canada
- Standard Chartered Bank - UAE
- Kepco SPC Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Bayan Resources Tbk. - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Independent Power Producers Association of India
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining Corp, Philippines
- PowerSource Philippines DevCo
- GVK Power & Infra Limited - India
- Toyota Tsusho Corporation, Japan
- Sakthi Sugars Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Orica Mining Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMC Global Power, Philippines
- Bhatia International Limited - India
- Tamil Nadu electricity Board
- Medco Energi Mining Internasional
- Renaissance Capital - South Africa
- Eastern Energy - Thailand
- Ministry of Transport, Egypt
- Indo Tambangraya Megah - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Petron Corporation, Philippines
- Mercuria Energy - Indonesia
- Georgia Ports Authority, United States
- Dalmia Cement Bharat India
- Sical Logistics Limited - India
- Barasentosa Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Interocean Group of Companies - India
- Ambuja Cements Ltd - India
- Lanco Infratech Ltd - India
- Parry Sugars Refinery, India
- Rio Tinto Coal - Australia
- Global Coal Blending Company Limited - Australia
- Indian Energy Exchange, India
- Aditya Birla Group - India
- Metalloyd Limited - United Kingdom
- Africa Commodities Group - South Africa
- Kaltim Prima Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- ICICI Bank Limited - India
- Attock Cement Pakistan Limited
- Indika Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- McConnell Dowell - Australia
- Aboitiz Power Corporation - Philippines
- Port Waratah Coal Services - Australia
- Siam City Cement PLC, Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Cement Manufacturers Association - India
- Bukit Asam (Persero) Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Minerals Council of Australia
- ASAPP Information Group - India
- MS Steel International - UAE
- Manunggal Multi Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Latin American Coal - Colombia
- Heidelberg Cement - Germany
- Ceylon Electricity Board - Sri Lanka
- Trasteel International SA, Italy
- LBH Netherlands Bv - Netherlands
- Xindia Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- New Zealand Coal & Carbon
- Straits Asia Resources Limited - Singapore
- Malabar Cements Ltd - India
- Mercator Lines Limited - India
- Marubeni Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bulk Trading Sa - Switzerland
- Essar Steel Hazira Ltd - India
- The Treasury - Australian Government
- Sinarmas Energy and Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Savvy Resources Ltd - HongKong
- Grasim Industreis Ltd - India
- Meenaskhi Energy Private Limited - India
- Tata Chemicals Ltd - India
- Edison Trading Spa - Italy
- Thiess Contractors Indonesia
- Sree Jayajothi Cements Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Sidhee Cement - India
- Commonwealth Bank - Australia
- The University of Queensland
- Salva Resources Pvt Ltd - India
- Videocon Industries ltd - India
- Global Green Power PLC Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Planning Commission, India
- Deloitte Consulting - India
- Iligan Light & Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Australian Coal Association
- Samtan Co., Ltd - South Korea
- Uttam Galva Steels Limited - India
- Posco Energy - South Korea
- Directorate Of Revenue Intelligence - India
- Siam City Cement - Thailand
- Australian Commodity Traders Exchange
- Orica Australia Pty. Ltd.
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Formosa Plastics Group - Taiwan
- India Bulls Power Limited - India
- Coal and Oil Company - UAE
- Power Finance Corporation Ltd., India
- Makarim & Taira - Indonesia
- Maheswari Brothers Coal Limited - India
- Leighton Contractors Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- Coastal Gujarat Power Limited - India
- VISA Power Limited - India
- SMG Consultants - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Goldman Sachs - Singapore
- GMR Energy Limited - India
- Mjunction Services Limited - India
- Bukit Makmur.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Energy Development Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- Mintek Dendrill Indonesia
- Romanian Commodities Exchange
- Wilmar Investment Holdings
- Riau Bara Harum - Indonesia
- Electricity Authority, New Zealand
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