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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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Thursday, 12 August 21
ONLY 3 VLCCS SOLD FOR DEMOLITION IN 2021 AS SECONDHAND PRICES TEMPT - BIMCO
During the first seven months of 2021, only three actively trading Very Large Crude Carriers (VLCCs) have been sold for demolition. The current mar ...
Wednesday, 11 August 21
U.S: EIA EXPECTS COAL EXPORTS TO TOTAL 90 MMST IN 2021, 30% INCREASE FROM 2020
Coal production in EIA's forecast totals 607 million short tons (MMst) in 2021, an increase of 13% over 2020.
EIA is also ...
Wednesday, 11 August 21
MARKET INSIGHT - INTERMODAL
Energy is at the core of the global climate dialogue as the climate challenge is essentially an energy challenge. Policy experts around the world a ...
Tuesday, 10 August 21
34 INDONESIAN COAL COMPANIES TEMPORARILY BANNED FOR COAL EXPORTS
The Ministry of Energy and Mineral Resources (ESDM) has imposed sanctions in the form of a coal export ban for 34 coal companies as reported by CNB ...
Monday, 09 August 21
AIIB MAY OFFICIALLY END COAL FINANCING IN 2022 - CHINA DAILY
The Asian Infrastructure Investment Bank may officially rule out coal projects if it updates its energy strategy next year, after shunning funding ...
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- Ambuja Cements Ltd - India
- Intertek Mineral Services - Indonesia
- PTC India Limited - India
- Kapuas Tunggal Persada - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Metalloyd Limited - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement PLC, Thailand
- Standard Chartered Bank - UAE
- VISA Power Limited - India
- Bangladesh Power Developement Board
- Karbindo Abesyapradhi - Indoneisa
- Parliament of New Zealand
- PNOC Exploration Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Sindya Power Generating Company Private Ltd
- Planning Commission, India
- Minerals Council of Australia
- Barasentosa Lestari - Indonesia
- India Bulls Power Limited - India
- Baramulti Group, Indonesia
- OPG Power Generation Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Goldman Sachs - Singapore
- Wood Mackenzie - Singapore
- Therma Luzon, Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- New Zealand Coal & Carbon
- Gujarat Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Australian Commodity Traders Exchange
- Ministry of Transport, Egypt
- Aboitiz Power Corporation - Philippines
- Wilmar Investment Holdings
- Simpson Spence & Young - Indonesia
- Indogreen Group - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Marubeni Corporation - India
- ASAPP Information Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Port Waratah Coal Services - Australia
- Ind-Barath Power Infra Limited - India
- CNBM International Corporation - China
- Videocon Industries ltd - India
- Mjunction Services Limited - India
- Mintek Dendrill Indonesia
- Savvy Resources Ltd - HongKong
- The Treasury - Australian Government
- Pendopo Energi Batubara - Indonesia
- Sojitz Corporation - Japan
- GMR Energy Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Tamil Nadu electricity Board
- Directorate Of Revenue Intelligence - India
- IEA Clean Coal Centre - UK
- Semirara Mining Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Bhushan Steel Limited - India
- Jindal Steel & Power Ltd - India
- Gujarat Sidhee Cement - India
- Indonesian Coal Mining Association
- Meralco Power Generation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Antam Resourcindo - Indonesia
- IHS Mccloskey Coal Group - USA
- Bhoruka Overseas - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Coal and Oil Company - UAE
- White Energy Company Limited
- Vedanta Resources Plc - India
- Borneo Indobara - Indonesia
- Africa Commodities Group - South Africa
- Medco Energi Mining Internasional
- Sarangani Energy Corporation, Philippines
- Makarim & Taira - Indonesia
- Rio Tinto Coal - Australia
- Mercuria Energy - Indonesia
- SMG Consultants - Indonesia
- AsiaOL BioFuels Corp., Philippines
- MS Steel International - UAE
- Straits Asia Resources Limited - Singapore
- Orica Mining Services - Indonesia
- SMC Global Power, Philippines
- Kobexindo Tractors - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Georgia Ports Authority, United States
- Ceylon Electricity Board - Sri Lanka
- Madhucon Powers Ltd - India
- Central Electricity Authority - India
- Globalindo Alam Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Essar Steel Hazira Ltd - India
- Chamber of Mines of South Africa
- Bhatia International Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Rashtriya Ispat Nigam Limited - India
- Global Green Power PLC Corporation, Philippines
- Indian Oil Corporation Limited
- Tata Chemicals Ltd - India
- Sakthi Sugars Limited - India
- South Luzon Thermal Energy Corporation
- Electricity Generating Authority of Thailand
- Indian Energy Exchange, India
- Interocean Group of Companies - India
- Central Java Power - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- London Commodity Brokers - England
- Coastal Gujarat Power Limited - India
- Sical Logistics Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- ICICI Bank Limited - India
- Indo Tambangraya Megah - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Dalmia Cement Bharat India
- The State Trading Corporation of India Ltd
- European Bulk Services B.V. - Netherlands
- Electricity Authority, New Zealand
- Thai Mozambique Logistica
- Petrochimia International Co. Ltd.- Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indika Energy - Indonesia
- Economic Council, Georgia
- Salva Resources Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- Energy Link Ltd, New Zealand
- Maheswari Brothers Coal Limited - India
- Ministry of Mines - Canada
- Parry Sugars Refinery, India
- Bharathi Cement Corporation - India
- Carbofer General Trading SA - India
- Renaissance Capital - South Africa
- Bukit Makmur.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Posco Energy - South Korea
- Orica Australia Pty. Ltd.
- Billiton Holdings Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Chettinad Cement Corporation Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Independent Power Producers Association of India
- Eastern Energy - Thailand
- Australian Coal Association
- Singapore Mercantile Exchange
- Asmin Koalindo Tuhup - Indonesia
- Cement Manufacturers Association - India
- Edison Trading Spa - Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Iligan Light & Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Ministry of Finance - Indonesia
- Samtan Co., Ltd - South Korea
- Star Paper Mills Limited - India
- Price Waterhouse Coopers - Russia
- Energy Development Corp, Philippines
- Grasim Industreis Ltd - India
- Heidelberg Cement - Germany
- Leighton Contractors Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Lanco Infratech Ltd - India
- San Jose City I Power Corp, Philippines
- Power Finance Corporation Ltd., India
- The University of Queensland
- PowerSource Philippines DevCo
- Trasteel International SA, Italy
- Banpu Public Company Limited - Thailand
- Formosa Plastics Group - Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Commonwealth Bank - Australia
- Siam City Cement - Thailand
- Vizag Seaport Private Limited - India
- Uttam Galva Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Petron Corporation, Philippines
- Bulk Trading Sa - Switzerland
- GVK Power & Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Romanian Commodities Exchange
- Jaiprakash Power Ventures ltd
- Attock Cement Pakistan Limited
- GAC Shipping (India) Pvt Ltd
- Karaikal Port Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Mercator Lines Limited - India
- Eastern Coal Council - USA
- Deloitte Consulting - India
- Aditya Birla Group - India
- Anglo American - United Kingdom
- McConnell Dowell - Australia
- Jorong Barutama Greston.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- Latin American Coal - Colombia
- Malabar Cements Ltd - India
- Thiess Contractors Indonesia
- Toyota Tsusho Corporation, Japan
- Kartika Selabumi Mining - Indonesia
- Altura Mining Limited, Indonesia
- Binh Thuan Hamico - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Global Business Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Xindia Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- Oldendorff Carriers - Singapore
- CIMB Investment Bank - Malaysia
- Agrawal Coal Company - India
- Larsen & Toubro Limited - India
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