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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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- Energy Link Ltd, New Zealand
- New Zealand Coal & Carbon
- Bukit Makmur.PT - Indonesia
- Energy Development Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Goldman Sachs - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Bharathi Cement Corporation - India
- Eastern Energy - Thailand
- Agrawal Coal Company - India
- Antam Resourcindo - Indonesia
- McConnell Dowell - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- London Commodity Brokers - England
- Heidelberg Cement - Germany
- Economic Council, Georgia
- Global Green Power PLC Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Medco Energi Mining Internasional
- Kaltim Prima Coal - Indonesia
- Altura Mining Limited, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Price Waterhouse Coopers - Russia
- Commonwealth Bank - Australia
- PNOC Exploration Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Bangladesh Power Developement Board
- Standard Chartered Bank - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Mines - Canada
- Bulk Trading Sa - Switzerland
- Grasim Industreis Ltd - India
- Deloitte Consulting - India
- PetroVietnam Power Coal Import and Supply Company
- Merrill Lynch Commodities Europe
- GVK Power & Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Interocean Group of Companies - India
- Baramulti Group, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Coal Association
- Directorate Of Revenue Intelligence - India
- Cement Manufacturers Association - India
- Semirara Mining Corp, Philippines
- Indian Oil Corporation Limited
- PowerSource Philippines DevCo
- Therma Luzon, Inc, Philippines
- Electricity Authority, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chettinad Cement Corporation Ltd - India
- Carbofer General Trading SA - India
- International Coal Ventures Pvt Ltd - India
- CNBM International Corporation - China
- Indika Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Mjunction Services Limited - India
- Vedanta Resources Plc - India
- IEA Clean Coal Centre - UK
- Latin American Coal - Colombia
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement PLC, Thailand
- Cigading International Bulk Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Meenaskhi Energy Private Limited - India
- Romanian Commodities Exchange
- Sree Jayajothi Cements Limited - India
- Aboitiz Power Corporation - Philippines
- The Treasury - Australian Government
- LBH Netherlands Bv - Netherlands
- Attock Cement Pakistan Limited
- Indogreen Group - Indonesia
- Petron Corporation, Philippines
- Georgia Ports Authority, United States
- Straits Asia Resources Limited - Singapore
- Wood Mackenzie - Singapore
- Holcim Trading Pte Ltd - Singapore
- Singapore Mercantile Exchange
- Banpu Public Company Limited - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Planning Commission, India
- Kideco Jaya Agung - Indonesia
- Borneo Indobara - Indonesia
- Barasentosa Lestari - Indonesia
- Meralco Power Generation, Philippines
- White Energy Company Limited
- Madhucon Powers Ltd - India
- Siam City Cement - Thailand
- Sical Logistics Limited - India
- Power Finance Corporation Ltd., India
- Formosa Plastics Group - Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Australian Commodity Traders Exchange
- Trasteel International SA, Italy
- Kobexindo Tractors - Indoneisa
- Sarangani Energy Corporation, Philippines
- Independent Power Producers Association of India
- Bhoruka Overseas - Indonesia
- Dalmia Cement Bharat India
- Tamil Nadu electricity Board
- European Bulk Services B.V. - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- Toyota Tsusho Corporation, Japan
- SN Aboitiz Power Inc, Philippines
- Lanco Infratech Ltd - India
- Orica Mining Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Uttam Galva Steels Limited - India
- Posco Energy - South Korea
- Global Coal Blending Company Limited - Australia
- ICICI Bank Limited - India
- Bhatia International Limited - India
- Malabar Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Ambuja Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- PTC India Limited - India
- Intertek Mineral Services - Indonesia
- Coalindo Energy - Indonesia
- Larsen & Toubro Limited - India
- IHS Mccloskey Coal Group - USA
- Makarim & Taira - Indonesia
- Bukit Baiduri Energy - Indonesia
- The University of Queensland
- Central Java Power - Indonesia
- Indo Tambangraya Megah - Indonesia
- SMC Global Power, Philippines
- The State Trading Corporation of India Ltd
- Parliament of New Zealand
- Electricity Generating Authority of Thailand
- Miang Besar Coal Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Coal and Oil Company - UAE
- Essar Steel Hazira Ltd - India
- Mercator Lines Limited - India
- Rio Tinto Coal - Australia
- Indian Energy Exchange, India
- Central Electricity Authority - India
- Ceylon Electricity Board - Sri Lanka
- TeaM Sual Corporation - Philippines
- Thai Mozambique Logistica
- Parry Sugars Refinery, India
- Vizag Seaport Private Limited - India
- Sindya Power Generating Company Private Ltd
- Bhushan Steel Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Transport, Egypt
- Minerals Council of Australia
- Xindia Steels Limited - India
- Tata Chemicals Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Renaissance Capital - South Africa
- Kalimantan Lumbung Energi - Indonesia
- Port Waratah Coal Services - Australia
- Wilmar Investment Holdings
- Sakthi Sugars Limited - India
- Iligan Light & Power Inc, Philippines
- Edison Trading Spa - Italy
- Samtan Co., Ltd - South Korea
- Krishnapatnam Port Company Ltd. - India
- Riau Bara Harum - Indonesia
- Savvy Resources Ltd - HongKong
- Maheswari Brothers Coal Limited - India
- Metalloyd Limited - United Kingdom
- CIMB Investment Bank - Malaysia
- Jaiprakash Power Ventures ltd
- Semirara Mining and Power Corporation, Philippines
- Marubeni Corporation - India
- Bayan Resources Tbk. - Indonesia
- Indonesian Coal Mining Association
- Eastern Coal Council - USA
- Aditya Birla Group - India
- Mintek Dendrill Indonesia
- Simpson Spence & Young - Indonesia
- Mercuria Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- San Jose City I Power Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Salva Resources Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Karbindo Abesyapradhi - Indoneisa
- SMG Consultants - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Orica Australia Pty. Ltd.
- Oldendorff Carriers - Singapore
- Coastal Gujarat Power Limited - India
- Africa Commodities Group - South Africa
- VISA Power Limited - India
- Anglo American - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- OPG Power Generation Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Chamber of Mines of South Africa
- Thiess Contractors Indonesia
- GMR Energy Limited - India
- Binh Thuan Hamico - Vietnam
- Videocon Industries ltd - India
- ASAPP Information Group - India
- Global Business Power Corporation, Philippines
- Sojitz Corporation - Japan
- South Luzon Thermal Energy Corporation
- MS Steel International - UAE
- Timah Investasi Mineral - Indoneisa
- Star Paper Mills Limited - India
- India Bulls Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Gujarat Sidhee Cement - India
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