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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, 16 November 21
INDONESIA’S 2022 COAL USE FOR POWER GENERATION SET TO RISE 3% - REUTERS
Indonesia’s coal consumption for power generation is likely to rise by 3.1% next year compared to 2021, the head of the country’s state ...
Tuesday, 16 November 21
CHINA'S MONTHLY COAL OUTPUT RISES TO HIGHEST SINCE MARCH 2015 - REUTERS
China’s October coal output rose to the highest since at least March 2015, after Beijing approved a raft of coal mine expansions to tame reco ...
Friday, 12 November 21
RUSSIA-INDIA COKING COAL DEAL UNLIKELY TO IMPACT PANAMAX SHIPPING - DREWRY
Russia and India have recently entered into an agreement whereby Russia will supply up to 40 million tonnes of coking coal to India every year. Dre ...
Friday, 12 November 21
ASIA COAL POWER PIPELINE TO SHRINK BY TWO THIRDS AFTER CHINA FINANCE CUT - REUTERS
Asia’s pipeline of proposed coal-fired power plants is expected to shrink from 65 gigawatts to 22 gigawatts following China’s pledge to ...
Friday, 12 November 21
INDONESIAN COAL PRICE REFERENCE TOPS $215 A TON; THE HIGHEST COAL PRICE IN HISTORY
COALspot.com: Indonesian Coal Price Reference in a steep climb for most of second half of 2021 as it reached a pinnacle of $215.01 in November 2021 ...
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- New Zealand Coal & Carbon
- SN Aboitiz Power Inc, Philippines
- Australian Coal Association
- Planning Commission, India
- Ministry of Finance - Indonesia
- Energy Link Ltd, New Zealand
- Bayan Resources Tbk. - Indonesia
- IEA Clean Coal Centre - UK
- Orica Mining Services - Indonesia
- Trasteel International SA, Italy
- Sical Logistics Limited - India
- Simpson Spence & Young - Indonesia
- ICICI Bank Limited - India
- Kartika Selabumi Mining - Indonesia
- Antam Resourcindo - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Tata Chemicals Ltd - India
- Global Business Power Corporation, Philippines
- SMC Global Power, Philippines
- Aboitiz Power Corporation - Philippines
- PowerSource Philippines DevCo
- SMG Consultants - Indonesia
- Bangladesh Power Developement Board
- Rashtriya Ispat Nigam Limited - India
- Binh Thuan Hamico - Vietnam
- GVK Power & Infra Limited - India
- Semirara Mining Corp, Philippines
- Carbofer General Trading SA - India
- Jaiprakash Power Ventures ltd
- Africa Commodities Group - South Africa
- Intertek Mineral Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Grasim Industreis Ltd - India
- White Energy Company Limited
- Meralco Power Generation, Philippines
- Bulk Trading Sa - Switzerland
- GN Power Mariveles Coal Plant, Philippines
- Holcim Trading Pte Ltd - Singapore
- Vedanta Resources Plc - India
- Formosa Plastics Group - Taiwan
- Posco Energy - South Korea
- European Bulk Services B.V. - Netherlands
- GMR Energy Limited - India
- Iligan Light & Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Banpu Public Company Limited - Thailand
- Borneo Indobara - Indonesia
- Samtan Co., Ltd - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Generating Authority of Thailand
- VISA Power Limited - India
- Georgia Ports Authority, United States
- Bhoruka Overseas - Indonesia
- Aditya Birla Group - India
- Neyveli Lignite Corporation Ltd, - India
- Jorong Barutama Greston.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Chamber of Mines of South Africa
- PTC India Limited - India
- Vizag Seaport Private Limited - India
- Lanco Infratech Ltd - India
- Parliament of New Zealand
- Indo Tambangraya Megah - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Australian Commodity Traders Exchange
- Power Finance Corporation Ltd., India
- Orica Australia Pty. Ltd.
- Edison Trading Spa - Italy
- Commonwealth Bank - Australia
- Marubeni Corporation - India
- Port Waratah Coal Services - Australia
- Meenaskhi Energy Private Limited - India
- Indika Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Malabar Cements Ltd - India
- The University of Queensland
- Asmin Koalindo Tuhup - Indonesia
- Karaikal Port Pvt Ltd - India
- Sojitz Corporation - Japan
- Heidelberg Cement - Germany
- Kobexindo Tractors - Indoneisa
- Sarangani Energy Corporation, Philippines
- ASAPP Information Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Makarim & Taira - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Electricity Authority, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Eastern Coal Council - USA
- Deloitte Consulting - India
- Thiess Contractors Indonesia
- Manunggal Multi Energi - Indonesia
- Sakthi Sugars Limited - India
- Altura Mining Limited, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Anglo American - United Kingdom
- Bukit Makmur.PT - Indonesia
- Ambuja Cements Ltd - India
- Economic Council, Georgia
- Mercator Lines Limited - India
- Barasentosa Lestari - Indonesia
- Mjunction Services Limited - India
- Cement Manufacturers Association - India
- Pipit Mutiara Jaya. PT, Indonesia
- Larsen & Toubro Limited - India
- Krishnapatnam Port Company Ltd. - India
- Metalloyd Limited - United Kingdom
- OPG Power Generation Pvt Ltd - India
- McConnell Dowell - Australia
- Siam City Cement PLC, Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Kaltim Prima Coal - Indonesia
- Medco Energi Mining Internasional
- Indonesian Coal Mining Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maheswari Brothers Coal Limited - India
- Singapore Mercantile Exchange
- Baramulti Group, Indonesia
- Interocean Group of Companies - India
- Standard Chartered Bank - UAE
- Timah Investasi Mineral - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Wilmar Investment Holdings
- Pendopo Energi Batubara - Indonesia
- IHS Mccloskey Coal Group - USA
- Indian Energy Exchange, India
- Cigading International Bulk Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Karbindo Abesyapradhi - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Kumho Petrochemical, South Korea
- Merrill Lynch Commodities Europe
- Gujarat Sidhee Cement - India
- Central Electricity Authority - India
- Directorate Of Revenue Intelligence - India
- TeaM Sual Corporation - Philippines
- Xindia Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Wood Mackenzie - Singapore
- Rio Tinto Coal - Australia
- The Treasury - Australian Government
- Thai Mozambique Logistica
- Bhushan Steel Limited - India
- Energy Development Corp, Philippines
- Coal and Oil Company - UAE
- Indian Oil Corporation Limited
- Tamil Nadu electricity Board
- Therma Luzon, Inc, Philippines
- Eastern Energy - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Renaissance Capital - South Africa
- Siam City Cement - Thailand
- Independent Power Producers Association of India
- Ceylon Electricity Board - Sri Lanka
- Ministry of Transport, Egypt
- Latin American Coal - Colombia
- Miang Besar Coal Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Savvy Resources Ltd - HongKong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Riau Bara Harum - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Minerals Council of Australia
- Semirara Mining and Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Star Paper Mills Limited - India
- CIMB Investment Bank - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Bhatia International Limited - India
- Dalmia Cement Bharat India
- Mintek Dendrill Indonesia
- Sinarmas Energy and Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Romanian Commodities Exchange
- Gujarat Mineral Development Corp Ltd - India
- Oldendorff Carriers - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercuria Energy - Indonesia
- Essar Steel Hazira Ltd - India
- London Commodity Brokers - England
- AsiaOL BioFuels Corp., Philippines
- Coalindo Energy - Indonesia
- Petron Corporation, Philippines
- Attock Cement Pakistan Limited
- Bukit Baiduri Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Sindya Power Generating Company Private Ltd
- The State Trading Corporation of India Ltd
- Global Coal Blending Company Limited - Australia
- Central Java Power - Indonesia
- Bharathi Cement Corporation - India
- MS Steel International - UAE
- India Bulls Power Limited - India
- Parry Sugars Refinery, India
- Madhucon Powers Ltd - India
- Videocon Industries ltd - India
- Jindal Steel & Power Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- LBH Netherlands Bv - Netherlands
- Ministry of Mines - Canada
- Indogreen Group - Indonesia
- Goldman Sachs - Singapore
- Agrawal Coal Company - India
- Kideco Jaya Agung - Indonesia
- PNOC Exploration Corporation - Philippines
- CNBM International Corporation - China
- Toyota Tsusho Corporation, Japan
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