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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, 17 February 22
MAJOR INSTITUTIONS PROVIDED OVER $1.5 TRLN TO COAL SECTOR IN 2019-2021, SAYS NGO GROUP - REUTERS
Financial institutions channelled more than $1.5 trillion into the coal industry in loans and underwriting from January 2019 to November 2021, even ...
Thursday, 17 February 22
APAC THERMAL COAL PRICES TO EASE ON END OF INDONESIA EXPORT BAN - FITCH RATINGS
Fitch Ratings-Shanghai/Singapore-14 February 2022: APAC thermal coal prices are likely to come under pressure in the near term due to seasonally we ...
Tuesday, 15 February 22
IS ANOTHER COAL SHORTAGE CRISIS LOOMING OVER INDIA? - BUSINESS STANDARD
In December last year, the Federation of Indian Mineral Industries (FIMI) shot off a letter to the Prime Minister claiming that the coal crisis was ...
Tuesday, 15 February 22
THERMAL COAL'S RECORD PRICE RUN MAY END UP ITS OWN WORST ENEMY - REUTERS
The price of benchmark Australian thermal coal rose last week to trade near record highs, providing a short-term boost to producers but increasing ...
Thursday, 10 February 22
INDONESIA: COAL EXPORT BAN - SKULD
Indonesia's coal export ban in the light of force majeure and off-hire clauses
In January 2022, Indonesia, the world's biggest exporte ...
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- Mintek Dendrill Indonesia
- Therma Luzon, Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Attock Cement Pakistan Limited
- Merrill Lynch Commodities Europe
- Karbindo Abesyapradhi - Indoneisa
- Jaiprakash Power Ventures ltd
- Indonesian Coal Mining Association
- Coastal Gujarat Power Limited - India
- GVK Power & Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- Oldendorff Carriers - Singapore
- Dalmia Cement Bharat India
- Central Electricity Authority - India
- PetroVietnam Power Coal Import and Supply Company
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining Corp, Philippines
- Kumho Petrochemical, South Korea
- European Bulk Services B.V. - Netherlands
- Banpu Public Company Limited - Thailand
- Goldman Sachs - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Formosa Plastics Group - Taiwan
- Toyota Tsusho Corporation, Japan
- Ceylon Electricity Board - Sri Lanka
- Port Waratah Coal Services - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Simpson Spence & Young - Indonesia
- Electricity Generating Authority of Thailand
- Videocon Industries ltd - India
- Orica Mining Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sree Jayajothi Cements Limited - India
- Kideco Jaya Agung - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bharathi Cement Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Mercator Lines Limited - India
- Ambuja Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- The Treasury - Australian Government
- New Zealand Coal & Carbon
- Miang Besar Coal Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Heidelberg Cement - Germany
- Bhushan Steel Limited - India
- Altura Mining Limited, Indonesia
- Parliament of New Zealand
- Edison Trading Spa - Italy
- Coalindo Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Georgia Ports Authority, United States
- Krishnapatnam Port Company Ltd. - India
- Independent Power Producers Association of India
- Baramulti Group, Indonesia
- Australian Commodity Traders Exchange
- Meenaskhi Energy Private Limited - India
- Salva Resources Pvt Ltd - India
- Thiess Contractors Indonesia
- Indo Tambangraya Megah - Indonesia
- ASAPP Information Group - India
- South Luzon Thermal Energy Corporation
- Singapore Mercantile Exchange
- Globalindo Alam Lestari - Indonesia
- Chamber of Mines of South Africa
- Gujarat Mineral Development Corp Ltd - India
- Sarangani Energy Corporation, Philippines
- CNBM International Corporation - China
- Indian Energy Exchange, India
- Mercuria Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Africa Commodities Group - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Standard Chartered Bank - UAE
- Tamil Nadu electricity Board
- Mjunction Services Limited - India
- GMR Energy Limited - India
- Anglo American - United Kingdom
- White Energy Company Limited
- Petrochimia International Co. Ltd.- Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Sical Logistics Limited - India
- SN Aboitiz Power Inc, Philippines
- Eastern Energy - Thailand
- Chettinad Cement Corporation Ltd - India
- Carbofer General Trading SA - India
- Aditya Birla Group - India
- Vedanta Resources Plc - India
- Global Green Power PLC Corporation, Philippines
- India Bulls Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Power Finance Corporation Ltd., India
- Manunggal Multi Energi - Indonesia
- Marubeni Corporation - India
- Agrawal Coal Company - India
- Essar Steel Hazira Ltd - India
- Riau Bara Harum - Indonesia
- Binh Thuan Hamico - Vietnam
- Deloitte Consulting - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMG Consultants - Indonesia
- San Jose City I Power Corp, Philippines
- CIMB Investment Bank - Malaysia
- VISA Power Limited - India
- Ministry of Transport, Egypt
- SMC Global Power, Philippines
- Planning Commission, India
- Timah Investasi Mineral - Indoneisa
- Ministry of Mines - Canada
- Renaissance Capital - South Africa
- McConnell Dowell - Australia
- Samtan Co., Ltd - South Korea
- Wood Mackenzie - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Indogreen Group - Indonesia
- Directorate Of Revenue Intelligence - India
- Leighton Contractors Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Siam City Cement - Thailand
- Makarim & Taira - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bukit Makmur.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- Sakthi Sugars Limited - India
- The State Trading Corporation of India Ltd
- Uttam Galva Steels Limited - India
- Commonwealth Bank - Australia
- Holcim Trading Pte Ltd - Singapore
- Trasteel International SA, Italy
- ICICI Bank Limited - India
- Central Java Power - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bukit Baiduri Energy - Indonesia
- The University of Queensland
- Kepco SPC Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Intertek Mineral Services - Indonesia
- Kaltim Prima Coal - Indonesia
- Electricity Authority, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Bulk Trading Sa - Switzerland
- Savvy Resources Ltd - HongKong
- Petron Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Malabar Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Borneo Indobara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Jindal Steel & Power Ltd - India
- Siam City Cement PLC, Thailand
- Sindya Power Generating Company Private Ltd
- Orica Australia Pty. Ltd.
- Australian Coal Association
- Maheswari Brothers Coal Limited - India
- Posco Energy - South Korea
- Wilmar Investment Holdings
- Indian Oil Corporation Limited
- Gujarat Sidhee Cement - India
- PTC India Limited - India
- Parry Sugars Refinery, India
- Star Paper Mills Limited - India
- Bhatia International Limited - India
- Xindia Steels Limited - India
- Price Waterhouse Coopers - Russia
- GAC Shipping (India) Pvt Ltd
- Thai Mozambique Logistica
- Madhucon Powers Ltd - India
- Medco Energi Mining Internasional
- MS Steel International - UAE
- Global Coal Blending Company Limited - Australia
- Metalloyd Limited - United Kingdom
- Barasentosa Lestari - Indonesia
- Eastern Coal Council - USA
- Economic Council, Georgia
- Global Business Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Minerals Council of Australia
- IHS Mccloskey Coal Group - USA
- Interocean Group of Companies - India
- LBH Netherlands Bv - Netherlands
- Coal and Oil Company - UAE
- AsiaOL BioFuels Corp., Philippines
- Kobexindo Tractors - Indoneisa
- Grasim Industreis Ltd - India
- Bangladesh Power Developement Board
- Straits Asia Resources Limited - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Energy Link Ltd, New Zealand
- Aboitiz Power Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Romanian Commodities Exchange
- Vizag Seaport Private Limited - India
- Antam Resourcindo - Indonesia
- PowerSource Philippines DevCo
- Sojitz Corporation - Japan
- Cement Manufacturers Association - India
- Energy Development Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Latin American Coal - Colombia
- Billiton Holdings Pty Ltd - Australia
- Larsen & Toubro Limited - India
- Tata Chemicals Ltd - India
- IEA Clean Coal Centre - UK
- London Commodity Brokers - England
- Indika Energy - Indonesia
- Lanco Infratech Ltd - India
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