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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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Tuesday, 07 December 21
COAL FIRMS SEE SHARE PRICES SURGE MONDAY, AFTER GOVERNMENT READJUSTS CONTRACT PRICES - GLOBAL TIMES
Share prices of China’s coal enterprises jumped on Monday on the A-share market following a nationwide adjustment to annual thermal coal pric ...
Monday, 06 December 21
CHINA SETS 2022 ANNUAL THERMAL COAL PRICES AT 700 YUAN/T - MEDIA: REUTERS
China’s top economic planner has proposed to set annual thermal coal prices for 2022 at between 550 yuan and 850 yuan ($86-$133) per tonne, a ...
Thursday, 02 December 21
BUMI RECORDED US$ 666.18 MILLION AS REVENUE IN THE 3RD QUARTER, UP 13.31% YOY
PT Bumi Resources Tbk and its subsidiaries have recorded a surge in revenue in the third quarter of 2021. BUMI has recorded US$ 666.18 million as r ...
Thursday, 02 December 21
CHINA'S COAL CRUNCH IS OVER, BUT PRICES ARE STILL TOO HIGH - REUTERS
China’s coal crisis has largely been resolved with gains in both production and stockpiles sufficient to ensure power supplies over winter.
...
Wednesday, 01 December 21
2022 OUTLOOK: INDONESIAN COAL MINING - FITCH RATINGS
Fitch Ratings has a neutral outlook on the Indonesian coal sector for 2022.
Earnings generation should slow down as selling pr ...
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- Kepco SPC Power Corporation, Philippines
- The Treasury - Australian Government
- Bharathi Cement Corporation - India
- SMC Global Power, Philippines
- Makarim & Taira - Indonesia
- Leighton Contractors Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Jindal Steel & Power Ltd - India
- Grasim Industreis Ltd - India
- Tata Chemicals Ltd - India
- Parliament of New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Barasentosa Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Savvy Resources Ltd - HongKong
- Lanco Infratech Ltd - India
- Latin American Coal - Colombia
- Global Green Power PLC Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement - Thailand
- Heidelberg Cement - Germany
- TeaM Sual Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Pipit Mutiara Jaya. PT, Indonesia
- Manunggal Multi Energi - Indonesia
- Attock Cement Pakistan Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Price Waterhouse Coopers - Russia
- Indika Energy - Indonesia
- Thiess Contractors Indonesia
- SN Aboitiz Power Inc, Philippines
- Bhatia International Limited - India
- LBH Netherlands Bv - Netherlands
- Coal and Oil Company - UAE
- Eastern Coal Council - USA
- Xindia Steels Limited - India
- Planning Commission, India
- Krishnapatnam Port Company Ltd. - India
- TNB Fuel Sdn Bhd - Malaysia
- Sinarmas Energy and Mining - Indonesia
- New Zealand Coal & Carbon
- Simpson Spence & Young - Indonesia
- Goldman Sachs - Singapore
- Kaltim Prima Coal - Indonesia
- Marubeni Corporation - India
- Meralco Power Generation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Malabar Cements Ltd - India
- Africa Commodities Group - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PowerSource Philippines DevCo
- Energy Development Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Global Business Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Australian Coal Association
- Kobexindo Tractors - Indoneisa
- The University of Queensland
- Asmin Koalindo Tuhup - Indonesia
- Deloitte Consulting - India
- Billiton Holdings Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Uttam Galva Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Banpu Public Company Limited - Thailand
- Agrawal Coal Company - India
- Holcim Trading Pte Ltd - Singapore
- Oldendorff Carriers - Singapore
- Larsen & Toubro Limited - India
- Aboitiz Power Corporation - Philippines
- The State Trading Corporation of India Ltd
- Electricity Authority, New Zealand
- Rashtriya Ispat Nigam Limited - India
- White Energy Company Limited
- IEA Clean Coal Centre - UK
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Antam Resourcindo - Indonesia
- Iligan Light & Power Inc, Philippines
- Economic Council, Georgia
- Siam City Cement PLC, Thailand
- Samtan Co., Ltd - South Korea
- Formosa Plastics Group - Taiwan
- Therma Luzon, Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Madhucon Powers Ltd - India
- Interocean Group of Companies - India
- Ministry of Mines - Canada
- Altura Mining Limited, Indonesia
- Electricity Generating Authority of Thailand
- Intertek Mineral Services - Indonesia
- Mintek Dendrill Indonesia
- Commonwealth Bank - Australia
- Indian Oil Corporation Limited
- Thai Mozambique Logistica
- Ministry of Finance - Indonesia
- GVK Power & Infra Limited - India
- Edison Trading Spa - Italy
- AsiaOL BioFuels Corp., Philippines
- Orica Australia Pty. Ltd.
- Mercator Lines Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Renaissance Capital - South Africa
- Rio Tinto Coal - Australia
- Mjunction Services Limited - India
- GAC Shipping (India) Pvt Ltd
- Minerals Council of Australia
- Vizag Seaport Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Pendopo Energi Batubara - Indonesia
- Karaikal Port Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- PNOC Exploration Corporation - Philippines
- Merrill Lynch Commodities Europe
- Dalmia Cement Bharat India
- MS Steel International - UAE
- Anglo American - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Bukit Makmur.PT - Indonesia
- CNBM International Corporation - China
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Salva Resources Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Aditya Birla Group - India
- Indian Energy Exchange, India
- Alfred C Toepfer International GmbH - Germany
- Eastern Energy - Thailand
- Globalindo Alam Lestari - Indonesia
- London Commodity Brokers - England
- Borneo Indobara - Indonesia
- Ind-Barath Power Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chettinad Cement Corporation Ltd - India
- Semirara Mining Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Romanian Commodities Exchange
- Central Electricity Authority - India
- Standard Chartered Bank - UAE
- Power Finance Corporation Ltd., India
- Kumho Petrochemical, South Korea
- Videocon Industries ltd - India
- Sakthi Sugars Limited - India
- Central Java Power - Indonesia
- Indogreen Group - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Star Paper Mills Limited - India
- GMR Energy Limited - India
- Wood Mackenzie - Singapore
- Orica Mining Services - Indonesia
- Bhushan Steel Limited - India
- Chamber of Mines of South Africa
- Independent Power Producers Association of India
- VISA Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sical Logistics Limited - India
- Sarangani Energy Corporation, Philippines
- Wilmar Investment Holdings
- Medco Energi Mining Internasional
- ASAPP Information Group - India
- Metalloyd Limited - United Kingdom
- Cement Manufacturers Association - India
- Riau Bara Harum - Indonesia
- Parry Sugars Refinery, India
- South Luzon Thermal Energy Corporation
- Ambuja Cements Ltd - India
- Baramulti Group, Indonesia
- McConnell Dowell - Australia
- Carbofer General Trading SA - India
- CIMB Investment Bank - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Sindya Power Generating Company Private Ltd
- Singapore Mercantile Exchange
- Bhoruka Overseas - Indonesia
- Petron Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Sojitz Corporation - Japan
- Coalindo Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Posco Energy - South Korea
- Meenaskhi Energy Private Limited - India
- Vedanta Resources Plc - India
- SMG Consultants - Indonesia
- Bulk Trading Sa - Switzerland
- Bukit Baiduri Energy - Indonesia
- Port Waratah Coal Services - Australia
- Cigading International Bulk Terminal - Indonesia
- Ministry of Transport, Egypt
- Timah Investasi Mineral - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Tamil Nadu electricity Board
- Bangladesh Power Developement Board
- Coastal Gujarat Power Limited - India
- Georgia Ports Authority, United States
- Mercuria Energy - Indonesia
- Trasteel International SA, Italy
- Australian Commodity Traders Exchange
- Global Coal Blending Company Limited - Australia
- ICICI Bank Limited - India
- Toyota Tsusho Corporation, Japan
- Maheswari Brothers Coal Limited - India
- India Bulls Power Limited - India
- Indonesian Coal Mining Association
- PTC India Limited - India
- Essar Steel Hazira Ltd - India
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