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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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Wednesday, 01 December 21
SUPPLY OF COAL TO POWER PLANTS IN NOV MORE THAN CONSUMPTION: JOSHI - PTI
The supply of coal to power plants in November is more than the consumption, resulting in rise in stock of dry fuel at power plants, and this trend ...
Wednesday, 01 December 21
MARKET INSIGHT - INTERMODAL
Essentially, anyone involved in the shipping and commodity markets still struggle with commodity supply issues and skyrocketing prices in the conte ...
Tuesday, 30 November 21
CHINA'S TOP ECONOMIC PLANNER SUMMONS COAL PRODUCERS; LONG-TERM PRICING MECHANISM IS ADVISED - GLOBAL TIMES
China’s top economic planner the National Development and Reform Commission (NDRC) said on Monday that they summoned coal producers for a hea ...
Tuesday, 30 November 21
CHINA'S COAL PRICES PLUNGE AFTER GOVT SIGNALS MORE PRICE REGULATION - REUTERS
China’s thermal coal futures dropped 5.6% on Monday after the state economic planner signaled further regulations for prices of the dirty pow ...
Friday, 26 November 21
AS COAL MARKET STABILIZES, CHINA STEPS UP NATURAL GAS SUPPLY TO MEET WINTER DEMAND - GLOBAL TIMES
The daily supply of natural gas in China has exceeded 1 billion cubic meters (bcm) since November began, up 11 percent year-on-year, data from stat ...
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- European Bulk Services B.V. - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Malabar Cements Ltd - India
- Orica Mining Services - Indonesia
- Semirara Mining Corp, Philippines
- Cement Manufacturers Association - India
- Kaltim Prima Coal - Indonesia
- Star Paper Mills Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Formosa Plastics Group - Taiwan
- Essar Steel Hazira Ltd - India
- Therma Luzon, Inc, Philippines
- Minerals Council of Australia
- Carbofer General Trading SA - India
- Price Waterhouse Coopers - Russia
- Sojitz Corporation - Japan
- The Treasury - Australian Government
- Banpu Public Company Limited - Thailand
- Independent Power Producers Association of India
- Romanian Commodities Exchange
- Siam City Cement PLC, Thailand
- PetroVietnam Power Coal Import and Supply Company
- Parliament of New Zealand
- Mercator Lines Limited - India
- Posco Energy - South Korea
- Global Green Power PLC Corporation, Philippines
- Vizag Seaport Private Limited - India
- Metalloyd Limited - United Kingdom
- Bukit Baiduri Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Thai Mozambique Logistica
- Economic Council, Georgia
- Renaissance Capital - South Africa
- PowerSource Philippines DevCo
- Chettinad Cement Corporation Ltd - India
- Pendopo Energi Batubara - Indonesia
- MS Steel International - UAE
- Simpson Spence & Young - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Samtan Co., Ltd - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Interocean Group of Companies - India
- Ind-Barath Power Infra Limited - India
- Grasim Industreis Ltd - India
- Kartika Selabumi Mining - Indonesia
- The State Trading Corporation of India Ltd
- Kepco SPC Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Ambuja Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- CIMB Investment Bank - Malaysia
- GAC Shipping (India) Pvt Ltd
- London Commodity Brokers - England
- Kapuas Tunggal Persada - Indonesia
- Jindal Steel & Power Ltd - India
- Central Electricity Authority - India
- Iligan Light & Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Trasteel International SA, Italy
- Neyveli Lignite Corporation Ltd, - India
- Bulk Trading Sa - Switzerland
- Global Coal Blending Company Limited - Australia
- Electricity Authority, New Zealand
- Timah Investasi Mineral - Indoneisa
- San Jose City I Power Corp, Philippines
- Electricity Generating Authority of Thailand
- Baramulti Group, Indonesia
- Karaikal Port Pvt Ltd - India
- Agrawal Coal Company - India
- Maharashtra Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Sical Logistics Limited - India
- Indonesian Coal Mining Association
- Bahari Cakrawala Sebuku - Indonesia
- Global Business Power Corporation, Philippines
- New Zealand Coal & Carbon
- Commonwealth Bank - Australia
- Ministry of Transport, Egypt
- Bhatia International Limited - India
- ASAPP Information Group - India
- Attock Cement Pakistan Limited
- Indo Tambangraya Megah - Indonesia
- Videocon Industries ltd - India
- Globalindo Alam Lestari - Indonesia
- Indika Energy - Indonesia
- Uttam Galva Steels Limited - India
- McConnell Dowell - Australia
- Australian Coal Association
- ICICI Bank Limited - India
- Barasentosa Lestari - Indonesia
- Parry Sugars Refinery, India
- Mercuria Energy - Indonesia
- Energy Link Ltd, New Zealand
- Leighton Contractors Pty Ltd - Australia
- Chamber of Mines of South Africa
- GMR Energy Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tamil Nadu electricity Board
- SMC Global Power, Philippines
- Riau Bara Harum - Indonesia
- Kumho Petrochemical, South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Mintek Dendrill Indonesia
- Deloitte Consulting - India
- Larsen & Toubro Limited - India
- Lanco Infratech Ltd - India
- Bukit Makmur.PT - Indonesia
- Edison Trading Spa - Italy
- South Luzon Thermal Energy Corporation
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wood Mackenzie - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Savvy Resources Ltd - HongKong
- Bukit Asam (Persero) Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- International Coal Ventures Pvt Ltd - India
- Coal and Oil Company - UAE
- Latin American Coal - Colombia
- OPG Power Generation Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Petron Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Port Waratah Coal Services - Australia
- Kobexindo Tractors - Indoneisa
- CNBM International Corporation - China
- Indogreen Group - Indonesia
- Thiess Contractors Indonesia
- Madhucon Powers Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Meenaskhi Energy Private Limited - India
- The University of Queensland
- Standard Chartered Bank - UAE
- Planning Commission, India
- Anglo American - United Kingdom
- Bhushan Steel Limited - India
- Miang Besar Coal Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bharathi Cement Corporation - India
- Borneo Indobara - Indonesia
- Vedanta Resources Plc - India
- Binh Thuan Hamico - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Medco Energi Mining Internasional
- Gujarat Electricity Regulatory Commission - India
- PTC India Limited - India
- IEA Clean Coal Centre - UK
- Energy Development Corp, Philippines
- Bhoruka Overseas - Indonesia
- IHS Mccloskey Coal Group - USA
- Altura Mining Limited, Indonesia
- Singapore Mercantile Exchange
- Directorate Of Revenue Intelligence - India
- Eastern Energy - Thailand
- Coastal Gujarat Power Limited - India
- Heidelberg Cement - Germany
- Kideco Jaya Agung - Indonesia
- Merrill Lynch Commodities Europe
- India Bulls Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Power Finance Corporation Ltd., India
- Manunggal Multi Energi - Indonesia
- Ministry of Mines - Canada
- Central Java Power - Indonesia
- Orica Australia Pty. Ltd.
- Sree Jayajothi Cements Limited - India
- Krishnapatnam Port Company Ltd. - India
- Intertek Mineral Services - Indonesia
- Eastern Coal Council - USA
- Jorong Barutama Greston.PT - Indonesia
- Rio Tinto Coal - Australia
- Jaiprakash Power Ventures ltd
- Africa Commodities Group - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Indian Oil Corporation Limited
- White Energy Company Limited
- TeaM Sual Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement - Thailand
- Billiton Holdings Pty Ltd - Australia
- Coalindo Energy - Indonesia
- Goldman Sachs - Singapore
- Bayan Resources Tbk. - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Mjunction Services Limited - India
- Maheswari Brothers Coal Limited - India
- VISA Power Limited - India
- Indian Energy Exchange, India
- Salva Resources Pvt Ltd - India
- Gujarat Sidhee Cement - India
- GVK Power & Infra Limited - India
- Meralco Power Generation, Philippines
- Australian Commodity Traders Exchange
- Marubeni Corporation - India
- Ministry of Finance - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Makarim & Taira - Indonesia
- Wilmar Investment Holdings
- AsiaOL BioFuels Corp., Philippines
- Bangladesh Power Developement Board
- Dalmia Cement Bharat India
- SMG Consultants - Indonesia
- Aditya Birla Group - India
- Antam Resourcindo - Indonesia
- SN Aboitiz Power Inc, Philippines
- Xindia Steels Limited - India
- Oldendorff Carriers - Singapore
- Toyota Tsusho Corporation, Japan
- Georgia Ports Authority, United States
- Cigading International Bulk Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Sakthi Sugars Limited - India
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