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Friday, 20 August 21
CHINA’S IRON ORE IMPORTS CONTRACTED YEAR-ON-YEAR BY 2% IN 2018 AND GREW YEAR-ON-YEAR BY ONLY 1% IN 2019 - COMMODORE RESEARCH
 Examining the last ten years of China’s crude steel output and iron ore imports shows that China’s iron ore imports have stayed resilient during each year where China’s crude steel output growth came under notable pressure, Commodore Research reported in its August report.
Commodore Research further noted, last decade began with China’s crude steel output growing year-on-year by 9% in 2011, and iron ore imports that year grew year-on-year by a robust 11%. However, 2012 then saw crude steel output grow year-on-year by only 3%, but iron ore imports that year still grew year-on-year by 9%. 2013 saw strong growth in both crude steel output and iron ore imports (each grew by 10%), but then 2014 saw crude steel production grow year-on-year by 5%. However, iron ore imports in 2014 still grew year-on-year by 13%. 2015 then saw China’s crude steel output contract year-on-year by 2%, but iron ore imports that year still grew year-on-year by 2%.
2016 then saw crude steel output grow year-on-year by only 1%, but iron ore imports that year grew year-on-year by 8%. 2017 saw the same growth in both crude steel output and iron ore imports (each grew year-on-year by 5%).
As we have been stressing in our work since we started our consultancy in 2010, Commodore Research said, it is global iron ore production that dictates China’s iron ore import volume. China has long remained content to purchase as much iron ore that exporters want to sell China (as imports are much higher quality than iron ore mined in China). Year after year has continued to show that China’s actual iron ore import demand remains resilient even when crude steel output growth comes under pressure. 2018 and 2019 would then go on to see weakness in iron ore imports, but this was not due to weakness in crude steel output. China’s iron ore imports contracted year-on-year by 2% in 2018 and grew year-on-year by only 1% in 2019, but crude steel output grew year-on-year by 10% in 2018 and by 7% in 2019. It was not weakness in steel output that led to two years of iron ore import weakness.
Global iron ore production was not finding significant growth at this time following years of weakness in iron ore prices, and overall global iron ore production was also hit further in 2019 after Vale’s dam collapse in January 2019 (which ended up curtailing Vale’s production). 2020 then ended up seeing China’s crude steel output grow year-on-year by 6% and iron ore imports grow year-on-year by 9%.
Overall, year after year has continued to show that China’s actual iron ore import demand remains resilient even if steel output experiences low growth or even contracts.
During the last ten years, Commodore Research said, there have been three years where China’s crude steel output grew by less than 5% (2012, 2015, and 2016) — and during all of these years China’s annual iron ore imports set new records. This historical fact is not making its way into market consensus. The Chinese government never comes out and states that iron ore imports can find strength even during years where steel output comes under pressure, but this is exactly what history has continued to show. Consuming as much imported iron ore as possible (at the expense of domestically mined iron ore) remains in the very best interest of China’s environment — and fortunately for the Chinese steel sector, the price of iron ore cargoes are now much more attractive.
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Monday, 23 August 21
CHINESE COAL PRODUCTION RISES 4.9 PCT IN 1ST 7 MONTHS OF 2021 - NBS
Official figures demonstrated that the Chinese raw coal production surged 4.9 percent annually to 2.26 billion tonnes in the January-July period of ...
Friday, 20 August 21
ARE WE LOOKING AT THE NEXT DRY BULK SUPER CYCLE? IS IT EVEN A CYCLE? - BIMCO
Throughout the first half of the year, talk of a new dry bulk super cycle has been on many lips as commodity prices have soared to multi-year highs ...
Friday, 20 August 21
BIMCO'S SHIPPING NUMBER OF THE WEEK: CHINESE IRON ORE IMPORTS FALL TO 14-MONTH LOW IN JULY - PETER SAND
Chinese iron ore imports fell to 88.5 million tonnes in July, the lowest level since May 2020. The fall in July means that accumulated imports are ...
Friday, 20 August 21
SOARING DEMAND FOR THE WORLD’S LEAST-LIKED COMMODITY SEES THERMAL COAL PRICES JUMP 106% THIS YEAR - CNBC
Soaring electricity demand, infrastructure woes and a surge in global gas prices have triggered an extraordinary rally for the world’s least ...
Friday, 13 August 21
INDONESIA’S COAL EXPORTS TO JAPAN DECLINED BY -26.3% YOY TO 11.9 MLN TONNES IN THE FIRST 7 MONTHS OF 2021; STILL THE SECOND LARGEST SOURCE FOR JAPAN’S COAL IMPORTS IS INDONESIA - BANCHERO COSTA
2020 proved to be a truly terrible year for global seaborne coal trade. Total global loadings in the 12 months of 2020 were down -12.7% year-on-yea ...
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- Jorong Barutama Greston.PT - Indonesia
- Larsen & Toubro Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Savvy Resources Ltd - HongKong
- Deloitte Consulting - India
- Eastern Energy - Thailand
- Kepco SPC Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- LBH Netherlands Bv - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Borneo Indobara - Indonesia
- Kartika Selabumi Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Parliament of New Zealand
- Marubeni Corporation - India
- Baramulti Group, Indonesia
- Kideco Jaya Agung - Indonesia
- Aboitiz Power Corporation - Philippines
- Ministry of Finance - Indonesia
- Global Business Power Corporation, Philippines
- Energy Development Corp, Philippines
- Barasentosa Lestari - Indonesia
- GVK Power & Infra Limited - India
- Bharathi Cement Corporation - India
- Siam City Cement - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMG Consultants - Indonesia
- IHS Mccloskey Coal Group - USA
- Renaissance Capital - South Africa
- Eastern Coal Council - USA
- Cement Manufacturers Association - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sojitz Corporation - Japan
- Star Paper Mills Limited - India
- Planning Commission, India
- Xindia Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Rio Tinto Coal - Australia
- Kobexindo Tractors - Indoneisa
- Minerals Council of Australia
- White Energy Company Limited
- Rashtriya Ispat Nigam Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Parry Sugars Refinery, India
- Goldman Sachs - Singapore
- Coastal Gujarat Power Limited - India
- Medco Energi Mining Internasional
- GN Power Mariveles Coal Plant, Philippines
- Banpu Public Company Limited - Thailand
- Petron Corporation, Philippines
- Ministry of Mines - Canada
- Indogreen Group - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Kumho Petrochemical, South Korea
- Semirara Mining Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Madhucon Powers Ltd - India
- Jaiprakash Power Ventures ltd
- Straits Asia Resources Limited - Singapore
- Chettinad Cement Corporation Ltd - India
- Commonwealth Bank - Australia
- Aditya Birla Group - India
- IEA Clean Coal Centre - UK
- Wilmar Investment Holdings
- ICICI Bank Limited - India
- Australian Coal Association
- Trasteel International SA, Italy
- Indonesian Coal Mining Association
- Manunggal Multi Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Malabar Cements Ltd - India
- Dalmia Cement Bharat India
- Antam Resourcindo - Indonesia
- Makarim & Taira - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- McConnell Dowell - Australia
- Thai Mozambique Logistica
- GAC Shipping (India) Pvt Ltd
- CNBM International Corporation - China
- Bangladesh Power Developement Board
- Globalindo Alam Lestari - Indonesia
- Coalindo Energy - Indonesia
- ASAPP Information Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Carbofer General Trading SA - India
- Georgia Ports Authority, United States
- The University of Queensland
- Samtan Co., Ltd - South Korea
- Jindal Steel & Power Ltd - India
- Central Java Power - Indonesia
- Formosa Plastics Group - Taiwan
- Siam City Cement PLC, Thailand
- Binh Thuan Hamico - Vietnam
- Sree Jayajothi Cements Limited - India
- Iligan Light & Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Port Waratah Coal Services - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Grasim Industreis Ltd - India
- Energy Link Ltd, New Zealand
- Simpson Spence & Young - Indonesia
- Altura Mining Limited, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- PTC India Limited - India
- Sarangani Energy Corporation, Philippines
- Anglo American - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Bhushan Steel Limited - India
- Vedanta Resources Plc - India
- Miang Besar Coal Terminal - Indonesia
- Mercuria Energy - Indonesia
- Ambuja Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Attock Cement Pakistan Limited
- India Bulls Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- Standard Chartered Bank - UAE
- Oldendorff Carriers - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Generating Authority of Thailand
- Directorate Of Revenue Intelligence - India
- Australian Commodity Traders Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Coal and Oil Company - UAE
- Pendopo Energi Batubara - Indonesia
- Merrill Lynch Commodities Europe
- Kalimantan Lumbung Energi - Indonesia
- New Zealand Coal & Carbon
- Gujarat Mineral Development Corp Ltd - India
- Wood Mackenzie - Singapore
- Indika Energy - Indonesia
- Chamber of Mines of South Africa
- Thiess Contractors Indonesia
- Mercator Lines Limited - India
- Interocean Group of Companies - India
- Bukit Baiduri Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Romanian Commodities Exchange
- Toyota Tsusho Corporation, Japan
- Edison Trading Spa - Italy
- Videocon Industries ltd - India
- GMR Energy Limited - India
- Meralco Power Generation, Philippines
- Bayan Resources Tbk. - Indonesia
- Meenaskhi Energy Private Limited - India
- Riau Bara Harum - Indonesia
- Africa Commodities Group - South Africa
- Tata Chemicals Ltd - India
- South Luzon Thermal Energy Corporation
- CIMB Investment Bank - Malaysia
- Agrawal Coal Company - India
- SMC Global Power, Philippines
- SN Aboitiz Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Sical Logistics Limited - India
- PetroVietnam Power Coal Import and Supply Company
- San Jose City I Power Corp, Philippines
- Vizag Seaport Private Limited - India
- European Bulk Services B.V. - Netherlands
- Essar Steel Hazira Ltd - India
- Kaltim Prima Coal - Indonesia
- Indian Energy Exchange, India
- Bhoruka Overseas - Indonesia
- Maheswari Brothers Coal Limited - India
- Bukit Makmur.PT - Indonesia
- Bhatia International Limited - India
- Economic Council, Georgia
- Orica Australia Pty. Ltd.
- Sinarmas Energy and Mining - Indonesia
- TeaM Sual Corporation - Philippines
- The Treasury - Australian Government
- Posco Energy - South Korea
- Salva Resources Pvt Ltd - India
- MS Steel International - UAE
- Latin American Coal - Colombia
- Sakthi Sugars Limited - India
- Indian Oil Corporation Limited
- Tamil Nadu electricity Board
- Bulk Trading Sa - Switzerland
- Mjunction Services Limited - India
- Holcim Trading Pte Ltd - Singapore
- PowerSource Philippines DevCo
- Karaikal Port Pvt Ltd - India
- London Commodity Brokers - England
- Therma Luzon, Inc, Philippines
- Orica Mining Services - Indonesia
- Ministry of Transport, Egypt
- International Coal Ventures Pvt Ltd - India
- Mintek Dendrill Indonesia
- Heidelberg Cement - Germany
- Singapore Mercantile Exchange
- Indo Tambangraya Megah - Indonesia
- Intertek Mineral Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Power Finance Corporation Ltd., India
- Alfred C Toepfer International GmbH - Germany
- VISA Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Independent Power Producers Association of India
- Ind-Barath Power Infra Limited - India
- Lanco Infratech Ltd - India
- PNOC Exploration Corporation - Philippines
- Central Electricity Authority - India
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