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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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Saturday, 06 March 21
AUSTRALIAN COAL: SOME WEAKNESS COULD MATERIALIZE AFTER THE WINTER - ING
Newcastle coal prices remain well supported for now, however as we move out of the winter months we would expect prices to come under pressure. Mea ...
Saturday, 06 March 21
ASIA SEABORNE COAL PRICES START TO RETREAT, CHINA-AUSTRALIA DISPUTE LINGERS - REUTERS
There are signs that the price and demand surge for coal during the recent colder-than-expected winter across North Asia is starting to ease, even ...
Thursday, 04 March 21
HEAD OF JBIC SAYS THE JAPANESE BANK WILL NOT FUND NEW COAL PLANT DEVELOPMENT - NHK NEWS
The governor of the Japan Bank for International Cooperation has said that the government-owned financial institution will stop funding new coal-fi ...
Wednesday, 03 March 21
MARKET INSIGHT - INTERMODAL
Following the recent rally to multi year highs of metal-based commodities, amid an unprecedented global economic stimulus, discussions of an emergi ...
Saturday, 27 February 21
CHINA'S BENCHMARK POWER COAL PRICE EDGES DOWN - XINHUA
China’s benchmark power coal price dropped slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge ...
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- Central Electricity Authority - India
- The Treasury - Australian Government
- Deloitte Consulting - India
- Star Paper Mills Limited - India
- Jindal Steel & Power Ltd - India
- Singapore Mercantile Exchange
- Interocean Group of Companies - India
- Videocon Industries ltd - India
- Holcim Trading Pte Ltd - Singapore
- Orica Mining Services - Indonesia
- Electricity Authority, New Zealand
- Wood Mackenzie - Singapore
- Minerals Council of Australia
- CIMB Investment Bank - Malaysia
- Rashtriya Ispat Nigam Limited - India
- PNOC Exploration Corporation - Philippines
- Thiess Contractors Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sical Logistics Limited - India
- Indonesian Coal Mining Association
- VISA Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Ambuja Cements Ltd - India
- Planning Commission, India
- Global Coal Blending Company Limited - Australia
- Indian Energy Exchange, India
- Miang Besar Coal Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Energy Link Ltd, New Zealand
- Formosa Plastics Group - Taiwan
- India Bulls Power Limited - India
- Edison Trading Spa - Italy
- PetroVietnam Power Coal Import and Supply Company
- Mjunction Services Limited - India
- Sree Jayajothi Cements Limited - India
- Orica Australia Pty. Ltd.
- Eastern Coal Council - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Metalloyd Limited - United Kingdom
- Bhushan Steel Limited - India
- Sindya Power Generating Company Private Ltd
- Semirara Mining and Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Heidelberg Cement - Germany
- Central Java Power - Indonesia
- Jaiprakash Power Ventures ltd
- Kapuas Tunggal Persada - Indonesia
- International Coal Ventures Pvt Ltd - India
- Energy Development Corp, Philippines
- Semirara Mining Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Meralco Power Generation, Philippines
- Bhatia International Limited - India
- Coalindo Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Carbofer General Trading SA - India
- Indogreen Group - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bayan Resources Tbk. - Indonesia
- Samtan Co., Ltd - South Korea
- Mintek Dendrill Indonesia
- Toyota Tsusho Corporation, Japan
- CNBM International Corporation - China
- Timah Investasi Mineral - Indoneisa
- Port Waratah Coal Services - Australia
- Antam Resourcindo - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- SN Aboitiz Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Thai Mozambique Logistica
- Price Waterhouse Coopers - Russia
- Grasim Industreis Ltd - India
- The State Trading Corporation of India Ltd
- Dalmia Cement Bharat India
- Essar Steel Hazira Ltd - India
- Bukit Makmur.PT - Indonesia
- Vedanta Resources Plc - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Sidhee Cement - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement PLC, Thailand
- Standard Chartered Bank - UAE
- Parliament of New Zealand
- Alfred C Toepfer International GmbH - Germany
- Borneo Indobara - Indonesia
- Chettinad Cement Corporation Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Vizag Seaport Private Limited - India
- Sarangani Energy Corporation, Philippines
- SMC Global Power, Philippines
- Petron Corporation, Philippines
- Riau Bara Harum - Indonesia
- Kaltim Prima Coal - Indonesia
- Mercuria Energy - Indonesia
- Tamil Nadu electricity Board
- Gujarat Mineral Development Corp Ltd - India
- Maheswari Brothers Coal Limited - India
- Iligan Light & Power Inc, Philippines
- Africa Commodities Group - South Africa
- Banpu Public Company Limited - Thailand
- Anglo American - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- Larsen & Toubro Limited - India
- New Zealand Coal & Carbon
- Bahari Cakrawala Sebuku - Indonesia
- Bharathi Cement Corporation - India
- Eastern Energy - Thailand
- TeaM Sual Corporation - Philippines
- Electricity Generating Authority of Thailand
- Wilmar Investment Holdings
- Karbindo Abesyapradhi - Indoneisa
- Chamber of Mines of South Africa
- Economic Council, Georgia
- Gujarat Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bangladesh Power Developement Board
- Ministry of Transport, Egypt
- Siam City Cement - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Trasteel International SA, Italy
- Malabar Cements Ltd - India
- Sojitz Corporation - Japan
- White Energy Company Limited
- Tata Chemicals Ltd - India
- Makarim & Taira - Indonesia
- Georgia Ports Authority, United States
- ASAPP Information Group - India
- Coal and Oil Company - UAE
- Simpson Spence & Young - Indonesia
- Karaikal Port Pvt Ltd - India
- London Commodity Brokers - England
- GAC Shipping (India) Pvt Ltd
- PowerSource Philippines DevCo
- Cement Manufacturers Association - India
- Cigading International Bulk Terminal - Indonesia
- Indian Oil Corporation Limited
- Pendopo Energi Batubara - Indonesia
- Ministry of Mines - Canada
- Altura Mining Limited, Indonesia
- McConnell Dowell - Australia
- Ceylon Electricity Board - Sri Lanka
- Xindia Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Baramulti Group, Indonesia
- Australian Commodity Traders Exchange
- Kalimantan Lumbung Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Kideco Jaya Agung - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Agrawal Coal Company - India
- Ministry of Finance - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Goldman Sachs - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Indika Energy - Indonesia
- IEA Clean Coal Centre - UK
- Kobexindo Tractors - Indoneisa
- PTC India Limited - India
- Billiton Holdings Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Latin American Coal - Colombia
- San Jose City I Power Corp, Philippines
- Renaissance Capital - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Sakthi Sugars Limited - India
- Salva Resources Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Mercator Lines Limited - India
- Ind-Barath Power Infra Limited - India
- The University of Queensland
- Independent Power Producers Association of India
- Commonwealth Bank - Australia
- GVK Power & Infra Limited - India
- Coastal Gujarat Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Medco Energi Mining Internasional
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Madhucon Powers Ltd - India
- Manunggal Multi Energi - Indonesia
- SMG Consultants - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Petrochimia International Co. Ltd.- Taiwan
- Uttam Galva Steels Limited - India
- Global Business Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Bulk Trading Sa - Switzerland
- Merrill Lynch Commodities Europe
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aditya Birla Group - India
- Rio Tinto Coal - Australia
- Romanian Commodities Exchange
- Australian Coal Association
- Intertek Mineral Services - Indonesia
- ICICI Bank Limited - India
- Barasentosa Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Savvy Resources Ltd - HongKong
- GMR Energy Limited - India
- Straits Asia Resources Limited - Singapore
- LBH Netherlands Bv - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Binh Thuan Hamico - Vietnam
- Indo Tambangraya Megah - Indonesia
- IHS Mccloskey Coal Group - USA
- Parry Sugars Refinery, India
- Attock Cement Pakistan Limited
- Posco Energy - South Korea
- MS Steel International - UAE
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