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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, 01 July 21
END TO COAL POWER BROUGHT FORWARD TO OCTOBER 2024
Press Release: The deadline to phase out coal from Great Britain's energy system has been brought forward by a whole year, highlighting the UK& ...
Thursday, 01 July 21
WHY BUILD 600 NEW UNPROFITABLE COAL PLANTS? - DEUTSCHE WELLE
Governments in Asia are planning 600 new coal plants that could lose investors $150 billion and derail efforts to limit temperature rise in line wi ...
Thursday, 01 July 21
FIVE ASIAN COUNTRIES ACCOUNT FOR 80% OF NEW COAL POWER INVESTMENT - THE GUARDIAN
Five Asian countries are jeopardising global climate ambitions by investing in 80% of the world’s planned new coal plants, according to a rep ...
Wednesday, 30 June 21
DELTA DUNIA MAKMUR RECORDED AN IMPROVED REVENUE IN Q1 2021; REVENUE INCREASED BY 49% QOQ TO US$160 MILLION ON THE BACK OF COAL PRICE RECOVERY
PT Delta Dunia Makmur Tbk. (“DOID”) released its consolidated financial and operating results that include its primary and wholly-owned ...
Wednesday, 30 June 21
BUMA SIGNED MINING AGREEMENT WITH ADARO
PT Delta Dunia Makmur Tbk. announced that its subsidiary, PT Bukit Makmur Mandiri Utama ("BUMA"), has entered into an agreement for the p ...
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- Mercator Lines Limited - India
- Essar Steel Hazira Ltd - India
- Manunggal Multi Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Tata Chemicals Ltd - India
- Ministry of Mines - Canada
- Price Waterhouse Coopers - Russia
- Meralco Power Generation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Indika Energy - Indonesia
- Sical Logistics Limited - India
- Africa Commodities Group - South Africa
- Electricity Authority, New Zealand
- The University of Queensland
- GVK Power & Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Commodity Traders Exchange
- Chettinad Cement Corporation Ltd - India
- Baramulti Group, Indonesia
- Altura Mining Limited, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Uttam Galva Steels Limited - India
- Parliament of New Zealand
- PowerSource Philippines DevCo
- Electricity Generating Authority of Thailand
- India Bulls Power Limited - India
- ICICI Bank Limited - India
- Karaikal Port Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Rio Tinto Coal - Australia
- Dalmia Cement Bharat India
- Ministry of Transport, Egypt
- Orica Mining Services - Indonesia
- Deloitte Consulting - India
- Iligan Light & Power Inc, Philippines
- Xindia Steels Limited - India
- Binh Thuan Hamico - Vietnam
- GMR Energy Limited - India
- McConnell Dowell - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Carbofer General Trading SA - India
- Kapuas Tunggal Persada - Indonesia
- LBH Netherlands Bv - Netherlands
- Formosa Plastics Group - Taiwan
- Antam Resourcindo - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Thai Mozambique Logistica
- Globalindo Alam Lestari - Indonesia
- Australian Coal Association
- Madhucon Powers Ltd - India
- Parry Sugars Refinery, India
- Renaissance Capital - South Africa
- Rashtriya Ispat Nigam Limited - India
- Mjunction Services Limited - India
- Interocean Group of Companies - India
- Jorong Barutama Greston.PT - Indonesia
- Economic Council, Georgia
- Minerals Council of Australia
- Toyota Tsusho Corporation, Japan
- Merrill Lynch Commodities Europe
- Global Business Power Corporation, Philippines
- London Commodity Brokers - England
- Indogreen Group - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Coalindo Energy - Indonesia
- Standard Chartered Bank - UAE
- Bhatia International Limited - India
- Simpson Spence & Young - Indonesia
- Makarim & Taira - Indonesia
- San Jose City I Power Corp, Philippines
- Samtan Co., Ltd - South Korea
- South Luzon Thermal Energy Corporation
- OPG Power Generation Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Pendopo Energi Batubara - Indonesia
- Posco Energy - South Korea
- Global Green Power PLC Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petron Corporation, Philippines
- Videocon Industries ltd - India
- Straits Asia Resources Limited - Singapore
- VISA Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Marubeni Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Therma Luzon, Inc, Philippines
- Port Waratah Coal Services - Australia
- Wood Mackenzie - Singapore
- Cement Manufacturers Association - India
- Siam City Cement PLC, Thailand
- Planning Commission, India
- Intertek Mineral Services - Indonesia
- Indian Energy Exchange, India
- Chamber of Mines of South Africa
- Indian Oil Corporation Limited
- Sree Jayajothi Cements Limited - India
- Anglo American - United Kingdom
- SMG Consultants - Indonesia
- Gujarat Sidhee Cement - India
- IEA Clean Coal Centre - UK
- Bangladesh Power Developement Board
- Kobexindo Tractors - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Vedanta Resources Plc - India
- Kohat Cement Company Ltd. - Pakistan
- Mintek Dendrill Indonesia
- Billiton Holdings Pty Ltd - Australia
- Eastern Energy - Thailand
- Sojitz Corporation - Japan
- Heidelberg Cement - Germany
- Thiess Contractors Indonesia
- Indo Tambangraya Megah - Indonesia
- Semirara Mining Corp, Philippines
- Central Java Power - Indonesia
- Latin American Coal - Colombia
- Ambuja Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coal and Oil Company - UAE
- Coastal Gujarat Power Limited - India
- CIMB Investment Bank - Malaysia
- Commonwealth Bank - Australia
- Bukit Makmur.PT - Indonesia
- Edison Trading Spa - Italy
- Energy Development Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Wilmar Investment Holdings
- IHS Mccloskey Coal Group - USA
- Oldendorff Carriers - Singapore
- Romanian Commodities Exchange
- Salva Resources Pvt Ltd - India
- CNBM International Corporation - China
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Grasim Industreis Ltd - India
- Energy Link Ltd, New Zealand
- Tamil Nadu electricity Board
- Goldman Sachs - Singapore
- The State Trading Corporation of India Ltd
- Directorate General of MIneral and Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Medco Energi Mining Internasional
- Kartika Selabumi Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- Orica Australia Pty. Ltd.
- Eastern Coal Council - USA
- Lanco Infratech Ltd - India
- Agrawal Coal Company - India
- White Energy Company Limited
- Bharathi Cement Corporation - India
- International Coal Ventures Pvt Ltd - India
- Sakthi Sugars Limited - India
- Bayan Resources Tbk. - Indonesia
- SN Aboitiz Power Inc, Philippines
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- Krishnapatnam Port Company Ltd. - India
- PetroVietnam Power Coal Import and Supply Company
- GN Power Mariveles Coal Plant, Philippines
- Kalimantan Lumbung Energi - Indonesia
- ASAPP Information Group - India
- Riau Bara Harum - Indonesia
- Bhushan Steel Limited - India
- Bukit Baiduri Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- The Treasury - Australian Government
- Aboitiz Power Corporation - Philippines
- Singapore Mercantile Exchange
- Metalloyd Limited - United Kingdom
- Aditya Birla Group - India
- Kideco Jaya Agung - Indonesia
- PTC India Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Power Finance Corporation Ltd., India
- Jindal Steel & Power Ltd - India
- Trasteel International SA, Italy
- Vizag Seaport Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Meenaskhi Energy Private Limited - India
- Mercuria Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kumho Petrochemical, South Korea
- Star Paper Mills Limited - India
- Attock Cement Pakistan Limited
- Independent Power Producers Association of India
- Maheswari Brothers Coal Limited - India
- Larsen & Toubro Limited - India
- Sindya Power Generating Company Private Ltd
- SMC Global Power, Philippines
- Miang Besar Coal Terminal - Indonesia
- Ministry of Finance - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Coal Blending Company Limited - Australia
- European Bulk Services B.V. - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- Savvy Resources Ltd - HongKong
- MS Steel International - UAE
- New Zealand Coal & Carbon
- Borneo Indobara - Indonesia
- Georgia Ports Authority, United States
- TeaM Sual Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indonesian Coal Mining Association
- Banpu Public Company Limited - Thailand
- Central Electricity Authority - India
- Malabar Cements Ltd - India
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