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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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Friday, 04 February 22
RENEWABLES ON THE RISE, COAL CONTINUOUSLY FALLING - EUROPEAN COMMISSION
Although oil (34.5%) and natural gas (23.7%) were still the most important fuel sources in the EU energy mix in 2020, renewable energy’s shar ...
Thursday, 03 February 22
COAL SHORTAGE NOW AT ALARMING LEVELS, SAY ALUMINIUM PRODUCERS - IANS
With no relief in sight despite coal stocks running critically low and production disruptions looming across the Indian aluminium sector, the Alumi ...
Wednesday, 02 February 22
HIGH COKING COAL PRICES PROVIDE GLIMPSE INTO STEELMAKING'S FUTURE - MCKINSEY
Last year was a volatile one in global commodity markets. Demand for coking coal, an essential raw material in the production of steel, was extreme ...
Wednesday, 02 February 22
INDONESIA'S RESTRICTIONS ON COMMODITIES RATTLE MARKETS, MORE MOVES LIKELY - REUTERS
In just the first month of this year, Indonesian policymakers have rattled global markets with restrictions on some of its biggest commodities expo ...
Wednesday, 02 February 22
CHINA'S TOP COAL PRODUCER FORECASTS 28 PCT PROFIT GROWTH IN 2021 - XINHUA
China Shenhua Energy Company Limited, one of the country’s biggest coal producers, said its net profits are expected to jump by 28 percent in ...
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- Sindya Power Generating Company Private Ltd
- Trasteel International SA, Italy
- Sree Jayajothi Cements Limited - India
- Altura Mining Limited, Indonesia
- IEA Clean Coal Centre - UK
- Georgia Ports Authority, United States
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement - Thailand
- Latin American Coal - Colombia
- Jorong Barutama Greston.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Wood Mackenzie - Singapore
- Energy Link Ltd, New Zealand
- Global Business Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Jindal Steel & Power Ltd - India
- Iligan Light & Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Eastern Coal Council - USA
- Australian Coal Association
- McConnell Dowell - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Bhushan Steel Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Agrawal Coal Company - India
- Leighton Contractors Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Alfred C Toepfer International GmbH - Germany
- Maheswari Brothers Coal Limited - India
- Kaltim Prima Coal - Indonesia
- Mintek Dendrill Indonesia
- International Coal Ventures Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Intertek Mineral Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- PowerSource Philippines DevCo
- Rio Tinto Coal - Australia
- PTC India Limited - India
- Commonwealth Bank - Australia
- Bhatia International Limited - India
- Petron Corporation, Philippines
- Medco Energi Mining Internasional
- Port Waratah Coal Services - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Interocean Group of Companies - India
- Antam Resourcindo - Indonesia
- Indonesian Coal Mining Association
- Australian Commodity Traders Exchange
- India Bulls Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- OPG Power Generation Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Barasentosa Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Meralco Power Generation, Philippines
- CNBM International Corporation - China
- Orica Mining Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Indo Tambangraya Megah - Indonesia
- Semirara Mining Corp, Philippines
- Essar Steel Hazira Ltd - India
- Ministry of Mines - Canada
- Eastern Energy - Thailand
- Mercuria Energy - Indonesia
- VISA Power Limited - India
- Merrill Lynch Commodities Europe
- GAC Shipping (India) Pvt Ltd
- Aboitiz Power Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Kepco SPC Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Wilmar Investment Holdings
- LBH Netherlands Bv - Netherlands
- Manunggal Multi Energi - Indonesia
- Videocon Industries ltd - India
- ICICI Bank Limited - India
- Bukit Baiduri Energy - Indonesia
- GVK Power & Infra Limited - India
- Bharathi Cement Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Makarim & Taira - Indonesia
- Savvy Resources Ltd - HongKong
- White Energy Company Limited
- Grasim Industreis Ltd - India
- Formosa Plastics Group - Taiwan
- Indogreen Group - Indonesia
- Attock Cement Pakistan Limited
- South Luzon Thermal Energy Corporation
- Directorate General of MIneral and Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Ministry of Finance - Indonesia
- Lanco Infratech Ltd - India
- Borneo Indobara - Indonesia
- Kartika Selabumi Mining - Indonesia
- The Treasury - Australian Government
- Edison Trading Spa - Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Marubeni Corporation - India
- SN Aboitiz Power Inc, Philippines
- Singapore Mercantile Exchange
- Global Coal Blending Company Limited - Australia
- Karbindo Abesyapradhi - Indoneisa
- Standard Chartered Bank - UAE
- Simpson Spence & Young - Indonesia
- London Commodity Brokers - England
- PNOC Exploration Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- The University of Queensland
- Siam City Cement PLC, Thailand
- Oldendorff Carriers - Singapore
- Vizag Seaport Private Limited - India
- Timah Investasi Mineral - Indoneisa
- Price Waterhouse Coopers - Russia
- Chamber of Mines of South Africa
- Sinarmas Energy and Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Sojitz Corporation - Japan
- Coal and Oil Company - UAE
- GMR Energy Limited - India
- Ministry of Transport, Egypt
- Maharashtra Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Malabar Cements Ltd - India
- Indika Energy - Indonesia
- Coalindo Energy - Indonesia
- Ambuja Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- The State Trading Corporation of India Ltd
- Sakthi Sugars Limited - India
- Gujarat Sidhee Cement - India
- Independent Power Producers Association of India
- Asmin Koalindo Tuhup - Indonesia
- Mjunction Services Limited - India
- European Bulk Services B.V. - Netherlands
- Thai Mozambique Logistica
- Goldman Sachs - Singapore
- Coastal Gujarat Power Limited - India
- Salva Resources Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Karaikal Port Pvt Ltd - India
- Romanian Commodities Exchange
- Uttam Galva Steels Limited - India
- Africa Commodities Group - South Africa
- Carbofer General Trading SA - India
- Chettinad Cement Corporation Ltd - India
- Planning Commission, India
- Dalmia Cement Bharat India
- Gujarat Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- Renaissance Capital - South Africa
- Heidelberg Cement - Germany
- Bhoruka Overseas - Indonesia
- Indian Oil Corporation Limited
- Parliament of New Zealand
- Miang Besar Coal Terminal - Indonesia
- Star Paper Mills Limited - India
- MS Steel International - UAE
- Pendopo Energi Batubara - Indonesia
- TeaM Sual Corporation - Philippines
- Aditya Birla Group - India
- Baramulti Group, Indonesia
- Indian Energy Exchange, India
- Xindia Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Mercator Lines Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Toyota Tsusho Corporation, Japan
- GN Power Mariveles Coal Plant, Philippines
- Ind-Barath Power Infra Limited - India
- Madhucon Powers Ltd - India
- SMG Consultants - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Meenaskhi Energy Private Limited - India
- Kobexindo Tractors - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Kideco Jaya Agung - Indonesia
- New Zealand Coal & Carbon
- Therma Luzon, Inc, Philippines
- Riau Bara Harum - Indonesia
- Cement Manufacturers Association - India
- Bukit Makmur.PT - Indonesia
- Vedanta Resources Plc - India
- Thiess Contractors Indonesia
- Central Electricity Authority - India
- Bahari Cakrawala Sebuku - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Sical Logistics Limited - India
- ASAPP Information Group - India
- AsiaOL BioFuels Corp., Philippines
- Minerals Council of Australia
- Anglo American - United Kingdom
- Deloitte Consulting - India
- Power Finance Corporation Ltd., India
- Electricity Authority, New Zealand
- Economic Council, Georgia
- Posco Energy - South Korea
- Tamil Nadu electricity Board
- IHS Mccloskey Coal Group - USA
- Parry Sugars Refinery, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Larsen & Toubro Limited - India
- CIMB Investment Bank - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Bangladesh Power Developement Board
- Energy Development Corp, Philippines
- SMC Global Power, Philippines
- Directorate Of Revenue Intelligence - India
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