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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, 10 February 22
EIA ANALYSIS CONSIDERS DIFFERENT OUTCOMES FOR COAL MARKETS IN INDIA AND SOUTHEAST ASIA
In our International Energy Outlook 2021 (IEO2021) Issues in Focus: Uncertainty in Coal Trade in India and Greater Southeast Asia, we analyze three ...
Wednesday, 09 February 22
OIL PRICES: "IT'S GOING TO BE VERY EASY" TO GET TO $100/BARREL, ANALYST SAYS - YAHOO FINANCE
Energy and oil prices have been on fire over the last six months — and expect them to go higher, says one analyst.
“For ...
Wednesday, 09 February 22
MARKET INSIGHT - INTERMODAL
Iron ore prices have jumped significantly in the week prior to the Chinese New Year with traders and producers stocking up on raw materials. China& ...
Wednesday, 09 February 22
FEBRUARY HBA HITS RECORD HIGH IN 2022 ON INDONESIA’S EXPORT BAN IN JANUARY, WORSEN SUPPLY, UKRAINE TENSIONS
COALspot.com: Indonesian Coal Price Reference for February in a steep climb from January 2022.
As expected in January the Indonesia ...
Wednesday, 09 February 22
CHINESE COAL MARKS BEST DAY IN 4 MONTHS ON TIGHT SUPPLY, HIGH DEMAND - REUTERS
China’s coal futures on Tuesday recorded their best session since Bejing’s mid-October intervention to cool runaway prices, aided by co ...
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- Global Green Power PLC Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Mjunction Services Limited - India
- Holcim Trading Pte Ltd - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Thiess Contractors Indonesia
- Planning Commission, India
- Aboitiz Power Corporation - Philippines
- Port Waratah Coal Services - Australia
- Star Paper Mills Limited - India
- White Energy Company Limited
- Directorate Of Revenue Intelligence - India
- European Bulk Services B.V. - Netherlands
- GMR Energy Limited - India
- McConnell Dowell - Australia
- Georgia Ports Authority, United States
- GN Power Mariveles Coal Plant, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Parliament of New Zealand
- Marubeni Corporation - India
- Vedanta Resources Plc - India
- Directorate General of MIneral and Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Globalindo Alam Lestari - Indonesia
- Attock Cement Pakistan Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Ambuja Cements Ltd - India
- Grasim Industreis Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- Metalloyd Limited - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- ICICI Bank Limited - India
- AsiaOL BioFuels Corp., Philippines
- Ministry of Transport, Egypt
- Central Electricity Authority - India
- Posco Energy - South Korea
- Chamber of Mines of South Africa
- Eastern Energy - Thailand
- Alfred C Toepfer International GmbH - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meralco Power Generation, Philippines
- SMC Global Power, Philippines
- Australian Commodity Traders Exchange
- Antam Resourcindo - Indonesia
- Electricity Generating Authority of Thailand
- Therma Luzon, Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Australian Coal Association
- Sarangani Energy Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Simpson Spence & Young - Indonesia
- Orica Mining Services - Indonesia
- Standard Chartered Bank - UAE
- Sical Logistics Limited - India
- Makarim & Taira - Indonesia
- The State Trading Corporation of India Ltd
- Aditya Birla Group - India
- Trasteel International SA, Italy
- Commonwealth Bank - Australia
- Semirara Mining and Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Deloitte Consulting - India
- Ministry of Finance - Indonesia
- PTC India Limited - India
- Carbofer General Trading SA - India
- Jaiprakash Power Ventures ltd
- Ceylon Electricity Board - Sri Lanka
- Vizag Seaport Private Limited - India
- Madhucon Powers Ltd - India
- Independent Power Producers Association of India
- Salva Resources Pvt Ltd - India
- Bhatia International Limited - India
- Thai Mozambique Logistica
- Merrill Lynch Commodities Europe
- Sindya Power Generating Company Private Ltd
- Eastern Coal Council - USA
- Ind-Barath Power Infra Limited - India
- San Jose City I Power Corp, Philippines
- Coalindo Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Formosa Plastics Group - Taiwan
- Kobexindo Tractors - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cement Manufacturers Association - India
- TNB Fuel Sdn Bhd - Malaysia
- Indogreen Group - Indonesia
- Orica Australia Pty. Ltd.
- Manunggal Multi Energi - Indonesia
- Romanian Commodities Exchange
- Wood Mackenzie - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Authority, New Zealand
- SMG Consultants - Indonesia
- Heidelberg Cement - Germany
- Interocean Group of Companies - India
- Petron Corporation, Philippines
- Dalmia Cement Bharat India
- Bangladesh Power Developement Board
- International Coal Ventures Pvt Ltd - India
- VISA Power Limited - India
- IHS Mccloskey Coal Group - USA
- Miang Besar Coal Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- India Bulls Power Limited - India
- ASAPP Information Group - India
- Medco Energi Mining Internasional
- Vijayanagar Sugar Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- OPG Power Generation Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Straits Asia Resources Limited - Singapore
- Kaltim Prima Coal - Indonesia
- Energy Development Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Coal and Oil Company - UAE
- Banpu Public Company Limited - Thailand
- Bharathi Cement Corporation - India
- Bukit Makmur.PT - Indonesia
- Latin American Coal - Colombia
- Binh Thuan Hamico - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Tata Chemicals Ltd - India
- Samtan Co., Ltd - South Korea
- GVK Power & Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Mines - Canada
- Baramulti Group, Indonesia
- Coastal Gujarat Power Limited - India
- Price Waterhouse Coopers - Russia
- Siam City Cement - Thailand
- Indo Tambangraya Megah - Indonesia
- Economic Council, Georgia
- Kohat Cement Company Ltd. - Pakistan
- Sree Jayajothi Cements Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Indika Energy - Indonesia
- Semirara Mining Corp, Philippines
- The Treasury - Australian Government
- Kepco SPC Power Corporation, Philippines
- The University of Queensland
- Malabar Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Rio Tinto Coal - Australia
- Videocon Industries ltd - India
- Tamil Nadu electricity Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Agrawal Coal Company - India
- Edison Trading Spa - Italy
- Oldendorff Carriers - Singapore
- Siam City Cement PLC, Thailand
- Anglo American - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Parry Sugars Refinery, India
- Karaikal Port Pvt Ltd - India
- Indian Oil Corporation Limited
- Mercuria Energy - Indonesia
- Energy Link Ltd, New Zealand
- Mintek Dendrill Indonesia
- Kartika Selabumi Mining - Indonesia
- Xindia Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Goldman Sachs - Singapore
- Rashtriya Ispat Nigam Limited - India
- Gujarat Sidhee Cement - India
- Central Java Power - Indonesia
- Pendopo Energi Batubara - Indonesia
- Global Coal Blending Company Limited - Australia
- Power Finance Corporation Ltd., India
- Jindal Steel & Power Ltd - India
- London Commodity Brokers - England
- Wilmar Investment Holdings
- Lanco Infratech Ltd - India
- Bhushan Steel Limited - India
- Bulk Trading Sa - Switzerland
- New Zealand Coal & Carbon
- PNOC Exploration Corporation - Philippines
- CNBM International Corporation - China
- Singapore Mercantile Exchange
- Minerals Council of Australia
- SN Aboitiz Power Inc, Philippines
- Mercator Lines Limited - India
- Chettinad Cement Corporation Ltd - India
- Larsen & Toubro Limited - India
- Uttam Galva Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- Sakthi Sugars Limited - India
- Toyota Tsusho Corporation, Japan
- Indian Energy Exchange, India
- Africa Commodities Group - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Billiton Holdings Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Indonesian Coal Mining Association
- PowerSource Philippines DevCo
- South Luzon Thermal Energy Corporation
- Global Business Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- LBH Netherlands Bv - Netherlands
- Savvy Resources Ltd - HongKong
- MS Steel International - UAE
- Neyveli Lignite Corporation Ltd, - India
- Kumho Petrochemical, South Korea
- Renaissance Capital - South Africa
- Borneo Indobara - Indonesia
- Altura Mining Limited, Indonesia
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