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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, 09 August 21
CHINA COAL INVENTORY THINS AMID PEAK POWER DEMAND- STATE MEDIA : REUTERS
China’s coal inventories have dropped to near historic lows since August due to peak summer electricity demand and transportation bottlenecks ...
Wednesday, 04 August 21
THE INDONESIAN COAL PRICE REFERENCE SURGED TO A FRESH RECORD HIGH OF USD 130.99 A TON IN AUGUST 2021
COALspot.com: The Indonesian Coal Price Reference ( HBA) surged to a fresh record high of USD 130.99 a ton in August 2021.
The ...
Wednesday, 04 August 21
MARKET INSIGHT - INTERMODAL
Unlike the Dry Bulk and Container sectors where freight rates have surged into 2021, the tankers market continues to experience lackluster earnings ...
Sunday, 01 August 21
SEABORNE HARD COAL TRADE IN 2020 DECREASED BY 149 MILLION MT, OR 12.1%, TO 1,083 MILLION MT - GERMAN COAL IMPORTERS ASSOCIATION
- Reduced coal-fired power plant fleet secures Germany’s power supply in severe winter of 2020/2021; little wind availability and hence stron ...
Wednesday, 28 July 21
IN THE PHILIPPINES, COAL’S DEMISE MAKES WAY FOR A RENEWABLE ENERGY BOOM - IEEFA
Imported gas lock-in could undermine the economic benefits of a clean energy transition
The Philippines’ energy sector is on t ...
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- Star Paper Mills Limited - India
- Edison Trading Spa - Italy
- PetroVietnam Power Coal Import and Supply Company
- Banpu Public Company Limited - Thailand
- Siam City Cement - Thailand
- Indian Energy Exchange, India
- Videocon Industries ltd - India
- The Treasury - Australian Government
- Gujarat Mineral Development Corp Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tamil Nadu electricity Board
- Globalindo Alam Lestari - Indonesia
- Ministry of Mines - Canada
- MS Steel International - UAE
- Medco Energi Mining Internasional
- Straits Asia Resources Limited - Singapore
- Global Business Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Deloitte Consulting - India
- Simpson Spence & Young - Indonesia
- Sinarmas Energy and Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Mercuria Energy - Indonesia
- Vizag Seaport Private Limited - India
- Thai Mozambique Logistica
- Chettinad Cement Corporation Ltd - India
- Merrill Lynch Commodities Europe
- ASAPP Information Group - India
- Singapore Mercantile Exchange
- Madhucon Powers Ltd - India
- Sarangani Energy Corporation, Philippines
- Indika Energy - Indonesia
- Central Electricity Authority - India
- Coastal Gujarat Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Riau Bara Harum - Indonesia
- Orica Australia Pty. Ltd.
- TeaM Sual Corporation - Philippines
- Mjunction Services Limited - India
- Bulk Trading Sa - Switzerland
- Antam Resourcindo - Indonesia
- Mintek Dendrill Indonesia
- Ambuja Cements Ltd - India
- Sojitz Corporation - Japan
- Posco Energy - South Korea
- Central Java Power - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bharathi Cement Corporation - India
- VISA Power Limited - India
- Kumho Petrochemical, South Korea
- Attock Cement Pakistan Limited
- Samtan Co., Ltd - South Korea
- Salva Resources Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Lanco Infratech Ltd - India
- Miang Besar Coal Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Makmur.PT - Indonesia
- Gujarat Sidhee Cement - India
- Kohat Cement Company Ltd. - Pakistan
- GMR Energy Limited - India
- Economic Council, Georgia
- Energy Link Ltd, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Coalindo Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Standard Chartered Bank - UAE
- Indian Oil Corporation Limited
- Borneo Indobara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pendopo Energi Batubara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Minerals Council of Australia
- Meenaskhi Energy Private Limited - India
- White Energy Company Limited
- Malabar Cements Ltd - India
- Siam City Cement PLC, Thailand
- Ministry of Finance - Indonesia
- Renaissance Capital - South Africa
- Baramulti Group, Indonesia
- Global Coal Blending Company Limited - Australia
- International Coal Ventures Pvt Ltd - India
- Makarim & Taira - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Aditya Birla Group - India
- Vijayanagar Sugar Pvt Ltd - India
- Heidelberg Cement - Germany
- Coal and Oil Company - UAE
- Semirara Mining Corp, Philippines
- Trasteel International SA, Italy
- Krishnapatnam Port Company Ltd. - India
- European Bulk Services B.V. - Netherlands
- Jaiprakash Power Ventures ltd
- Indo Tambangraya Megah - Indonesia
- Mercator Lines Limited - India
- Wood Mackenzie - Singapore
- GVK Power & Infra Limited - India
- Electricity Generating Authority of Thailand
- San Jose City I Power Corp, Philippines
- Therma Luzon, Inc, Philippines
- Independent Power Producers Association of India
- Meralco Power Generation, Philippines
- Bayan Resources Tbk. - Indonesia
- Energy Development Corp, Philippines
- Essar Steel Hazira Ltd - India
- GAC Shipping (India) Pvt Ltd
- Bhatia International Limited - India
- Australian Commodity Traders Exchange
- Rashtriya Ispat Nigam Limited - India
- Marubeni Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Larsen & Toubro Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Georgia Ports Authority, United States
- Planning Commission, India
- Asmin Koalindo Tuhup - Indonesia
- Global Green Power PLC Corporation, Philippines
- Thiess Contractors Indonesia
- Parry Sugars Refinery, India
- Latin American Coal - Colombia
- IHS Mccloskey Coal Group - USA
- Jindal Steel & Power Ltd - India
- Uttam Galva Steels Limited - India
- Eastern Coal Council - USA
- Anglo American - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- The State Trading Corporation of India Ltd
- Grasim Industreis Ltd - India
- SN Aboitiz Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Mining Services - Indonesia
- Cement Manufacturers Association - India
- Bukit Baiduri Energy - Indonesia
- Indogreen Group - Indonesia
- Karaikal Port Pvt Ltd - India
- Rio Tinto Coal - Australia
- Interocean Group of Companies - India
- Iligan Light & Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- GN Power Mariveles Coal Plant, Philippines
- Commonwealth Bank - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- New Zealand Coal & Carbon
- Metalloyd Limited - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Goldman Sachs - Singapore
- Gujarat Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- PTC India Limited - India
- Power Finance Corporation Ltd., India
- Kaltim Prima Coal - Indonesia
- Bangladesh Power Developement Board
- Dalmia Cement Bharat India
- Oldendorff Carriers - Singapore
- Altura Mining Limited, Indonesia
- Eastern Energy - Thailand
- India Bulls Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Petron Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Kartika Selabumi Mining - Indonesia
- Ministry of Transport, Egypt
- Australian Coal Association
- London Commodity Brokers - England
- Sindya Power Generating Company Private Ltd
- Billiton Holdings Pty Ltd - Australia
- Xindia Steels Limited - India
- Electricity Authority, New Zealand
- Sical Logistics Limited - India
- Africa Commodities Group - South Africa
- PowerSource Philippines DevCo
- Bhushan Steel Limited - India
- Port Waratah Coal Services - Australia
- Toyota Tsusho Corporation, Japan
- IEA Clean Coal Centre - UK
- Bhoruka Overseas - Indonesia
- Savvy Resources Ltd - HongKong
- Maheswari Brothers Coal Limited - India
- SMG Consultants - Indonesia
- Directorate Of Revenue Intelligence - India
- Binh Thuan Hamico - Vietnam
- Cigading International Bulk Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- Kepco SPC Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- CNBM International Corporation - China
- Intertek Mineral Services - Indonesia
- Kobexindo Tractors - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Agrawal Coal Company - India
- Kideco Jaya Agung - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Sakthi Sugars Limited - India
- Carbofer General Trading SA - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- LBH Netherlands Bv - Netherlands
- South Luzon Thermal Energy Corporation
- Tata Chemicals Ltd - India
- Parliament of New Zealand
- SMC Global Power, Philippines
- Vedanta Resources Plc - India
- Kapuas Tunggal Persada - Indonesia
- The University of Queensland
- McConnell Dowell - Australia
- PNOC Exploration Corporation - Philippines
- Indonesian Coal Mining Association
- Chamber of Mines of South Africa
- Wilmar Investment Holdings
- Romanian Commodities Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Timah Investasi Mineral - Indoneisa
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