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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, 23 December 21
COAL DEMAND TO PEAK IN INDIA BY 2030, WILL BACK UP RENEWABLES: NITI REPORT - BUSINESS STANDARD
Coal will remain India’s mainstay energy source and the country will shape global demand this decade, two reports have said a month after the ...
Thursday, 23 December 21
INDONESIA’S 2022 COAL OUTPUT SEEN BETWEEN 637 MLN-664 MLN T- OFFICIAL - REUTERS
Indonesia’s 2022 coal output is estimated at between 637 million to 664 million tonnes based on production plans currently being finalised, s ...
Thursday, 23 December 21
VALE ANNOUNCES THE SALE OF ITS COAL ASSETS
Vale informs that, on this date, it has entered into a binding agreement with Vulcan to sell the Moatize coal mine and the Nacala Logistics Corrido ...
Thursday, 23 December 21
INDIA: CAPTIVE POWER PRODUCERS URGE GOVT TO ENSURE NORMAL COAL SUPPLIES - PTI
A captive power producers’ association has urged the government for 100 per cent normalisation of coal supply to captive power producers whil ...
Thursday, 23 December 21
MARKET INSIGHT - INTERMODAL
As an outstanding year for the dry bulk freight market comes to a close, so does a thriving year for the SnP market which can only be compared to 2 ...
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- SMC Global Power, Philippines
- Africa Commodities Group - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Riau Bara Harum - Indonesia
- Commonwealth Bank - Australia
- Mercator Lines Limited - India
- Global Business Power Corporation, Philippines
- CNBM International Corporation - China
- India Bulls Power Limited - India
- Edison Trading Spa - Italy
- Semirara Mining Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Neyveli Lignite Corporation Ltd, - India
- Kideco Jaya Agung - Indonesia
- Bhushan Steel Limited - India
- Coalindo Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Metalloyd Limited - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- MS Steel International - UAE
- Price Waterhouse Coopers - Russia
- Therma Luzon, Inc, Philippines
- Bangladesh Power Developement Board
- Savvy Resources Ltd - HongKong
- Vedanta Resources Plc - India
- The Treasury - Australian Government
- Baramulti Group, Indonesia
- Lanco Infratech Ltd - India
- Indogreen Group - Indonesia
- McConnell Dowell - Australia
- Indika Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Karaikal Port Pvt Ltd - India
- Carbofer General Trading SA - India
- Wilmar Investment Holdings
- Antam Resourcindo - Indonesia
- Gujarat Sidhee Cement - India
- PNOC Exploration Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Anglo American - United Kingdom
- OPG Power Generation Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Larsen & Toubro Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Timah Investasi Mineral - Indoneisa
- Barasentosa Lestari - Indonesia
- Latin American Coal - Colombia
- Singapore Mercantile Exchange
- Orica Mining Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Australian Coal Association
- IHS Mccloskey Coal Group - USA
- Globalindo Alam Lestari - Indonesia
- Indonesian Coal Mining Association
- Asmin Koalindo Tuhup - Indonesia
- Deloitte Consulting - India
- Aboitiz Power Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Sical Logistics Limited - India
- Bukit Makmur.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Makarim & Taira - Indonesia
- Mercuria Energy - Indonesia
- Attock Cement Pakistan Limited
- New Zealand Coal & Carbon
- Kumho Petrochemical, South Korea
- Dalmia Cement Bharat India
- Standard Chartered Bank - UAE
- Bhatia International Limited - India
- Borneo Indobara - Indonesia
- GVK Power & Infra Limited - India
- Formosa Plastics Group - Taiwan
- Madhucon Powers Ltd - India
- Samtan Co., Ltd - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Bayan Resources Tbk. - Indonesia
- Intertek Mineral Services - Indonesia
- Cement Manufacturers Association - India
- Georgia Ports Authority, United States
- Rio Tinto Coal - Australia
- PowerSource Philippines DevCo
- Petron Corporation, Philippines
- Thai Mozambique Logistica
- Orica Australia Pty. Ltd.
- Mjunction Services Limited - India
- Bhoruka Overseas - Indonesia
- Videocon Industries ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Romanian Commodities Exchange
- Toyota Tsusho Corporation, Japan
- Wood Mackenzie - Singapore
- Indian Energy Exchange, India
- Central Java Power - Indonesia
- Chamber of Mines of South Africa
- Parliament of New Zealand
- Kobexindo Tractors - Indoneisa
- Vizag Seaport Private Limited - India
- Xindia Steels Limited - India
- Energy Development Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Holcim Trading Pte Ltd - Singapore
- Gujarat Electricity Regulatory Commission - India
- Maharashtra Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- The State Trading Corporation of India Ltd
- Eastern Coal Council - USA
- London Commodity Brokers - England
- Jindal Steel & Power Ltd - India
- ASAPP Information Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Malabar Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Renaissance Capital - South Africa
- GAC Shipping (India) Pvt Ltd
- Thiess Contractors Indonesia
- Planning Commission, India
- Merrill Lynch Commodities Europe
- Marubeni Corporation - India
- Global Coal Blending Company Limited - Australia
- Coal and Oil Company - UAE
- Global Green Power PLC Corporation, Philippines
- White Energy Company Limited
- ICICI Bank Limited - India
- Economic Council, Georgia
- Ceylon Electricity Board - Sri Lanka
- Agrawal Coal Company - India
- Directorate Of Revenue Intelligence - India
- TNB Fuel Sdn Bhd - Malaysia
- European Bulk Services B.V. - Netherlands
- Electricity Authority, New Zealand
- Electricity Generating Authority of Thailand
- Rashtriya Ispat Nigam Limited - India
- Tata Chemicals Ltd - India
- Trasteel International SA, Italy
- PetroVietnam Power Coal Import and Supply Company
- Interocean Group of Companies - India
- SN Aboitiz Power Inc, Philippines
- Iligan Light & Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- Sakthi Sugars Limited - India
- Ministry of Finance - Indonesia
- Heidelberg Cement - Germany
- Sinarmas Energy and Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Tamil Nadu electricity Board
- IEA Clean Coal Centre - UK
- Sree Jayajothi Cements Limited - India
- Goldman Sachs - Singapore
- Mintek Dendrill Indonesia
- Independent Power Producers Association of India
- Meralco Power Generation, Philippines
- Simpson Spence & Young - Indonesia
- Sojitz Corporation - Japan
- Uttam Galva Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- VISA Power Limited - India
- Minerals Council of Australia
- CIMB Investment Bank - Malaysia
- Australian Commodity Traders Exchange
- Petrochimia International Co. Ltd.- Taiwan
- LBH Netherlands Bv - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kaltim Prima Coal - Indonesia
- Coastal Gujarat Power Limited - India
- Bharathi Cement Corporation - India
- PTC India Limited - India
- SMG Consultants - Indonesia
- Meenaskhi Energy Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Aditya Birla Group - India
- GMR Energy Limited - India
- South Luzon Thermal Energy Corporation
- Miang Besar Coal Terminal - Indonesia
- Parry Sugars Refinery, India
- Kepco SPC Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Mines - Canada
- Ministry of Transport, Egypt
- Altura Mining Limited, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Salva Resources Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Kalimantan Lumbung Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The University of Queensland
- AsiaOL BioFuels Corp., Philippines
- Jaiprakash Power Ventures ltd
- Binh Thuan Hamico - Vietnam
- Posco Energy - South Korea
- Grasim Industreis Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Eastern Energy - Thailand
- Central Electricity Authority - India
- Sarangani Energy Corporation, Philippines
- Indian Oil Corporation Limited
- Bulk Trading Sa - Switzerland
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement - Thailand
- Medco Energi Mining Internasional
- International Coal Ventures Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Port Waratah Coal Services - Australia
- Siam City Cement PLC, Thailand
- Energy Link Ltd, New Zealand
- Chettinad Cement Corporation Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sindya Power Generating Company Private Ltd
- Karbindo Abesyapradhi - Indoneisa
- Banpu Public Company Limited - Thailand
- Ind-Barath Power Infra Limited - India
- Ambuja Cements Ltd - India
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