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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, 11 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 ...
Tuesday, 09 November 21
ASIA-PACIFIC IS HOME TO SOME OF THE WORLD'S LARGEST CARBON-EMITTERS - 2 CHARTS SHOW ITS RELIANCE ON COAL - CNBC
Asia-Pacific is home to some of the world’s largest carbon emitters — and experts say much of global efforts to fight climate change de ...
Tuesday, 09 November 21
CHINA DAILY COAL OUTPUT HITS MULTI-YEAR PEAK, PRICES EXPECTED TO FALL - REUTERS
China’s daily coal output hit 11.93 million tonnes last week, a multi-year high as more capacity returned to operation, the state planner sai ...
Thursday, 04 November 21
CHINA'S COAL MARKET SEES SIGNIFICANT IMPROVEMENTS: NDRC - GLOBAL TIMES
China’s top economic planner has declared initial success in its efforts to ensure coal supply and stabilize prices, saying that daily coal o ...
Thursday, 04 November 21
CHINA THERMAL COAL PRICES RISE AFTER FALLING FOR 10 DAYS - REUTERS
China thermal coal futures rebounded on Wednesday after falling for 10 days on an expected jump in fuel demand to meet heating needs amid forecasts ...
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- Bangladesh Power Developement Board
- Indogreen Group - Indonesia
- The Treasury - Australian Government
- Australian Coal Association
- Uttam Galva Steels Limited - India
- Indonesian Coal Mining Association
- Intertek Mineral Services - Indonesia
- Commonwealth Bank - Australia
- Kalimantan Lumbung Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- PNOC Exploration Corporation - Philippines
- Mjunction Services Limited - India
- Posco Energy - South Korea
- Billiton Holdings Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Central Java Power - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Goldman Sachs - Singapore
- Global Coal Blending Company Limited - Australia
- Kumho Petrochemical, South Korea
- Makarim & Taira - Indonesia
- Interocean Group of Companies - India
- Georgia Ports Authority, United States
- Oldendorff Carriers - Singapore
- Gujarat Sidhee Cement - India
- Kaltim Prima Coal - Indonesia
- Orica Australia Pty. Ltd.
- Holcim Trading Pte Ltd - Singapore
- TeaM Sual Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Ministry of Finance - Indonesia
- SMG Consultants - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Sakthi Sugars Limited - India
- Minerals Council of Australia
- Alfred C Toepfer International GmbH - Germany
- Timah Investasi Mineral - Indoneisa
- Meralco Power Generation, Philippines
- Vedanta Resources Plc - India
- The University of Queensland
- Dalmia Cement Bharat India
- Electricity Authority, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PetroVietnam Power Coal Import and Supply Company
- Grasim Industreis Ltd - India
- Jaiprakash Power Ventures ltd
- Petrochimia International Co. Ltd.- Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Sinarmas Energy and Mining - Indonesia
- Eastern Energy - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Chamber of Mines of South Africa
- Siam City Cement - Thailand
- PowerSource Philippines DevCo
- Carbofer General Trading SA - India
- Global Business Power Corporation, Philippines
- Xindia Steels Limited - India
- McConnell Dowell - Australia
- Indo Tambangraya Megah - Indonesia
- Savvy Resources Ltd - HongKong
- TNB Fuel Sdn Bhd - Malaysia
- Ambuja Cements Ltd - India
- Siam City Cement PLC, Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- India Bulls Power Limited - India
- Romanian Commodities Exchange
- Maheswari Brothers Coal Limited - India
- Simpson Spence & Young - Indonesia
- Independent Power Producers Association of India
- Merrill Lynch Commodities Europe
- Parry Sugars Refinery, India
- ICICI Bank Limited - India
- Eastern Coal Council - USA
- ASAPP Information Group - India
- Bharathi Cement Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Petron Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Latin American Coal - Colombia
- Australian Commodity Traders Exchange
- Samtan Co., Ltd - South Korea
- Larsen & Toubro Limited - India
- Tata Chemicals Ltd - India
- Ind-Barath Power Infra Limited - India
- Bulk Trading Sa - Switzerland
- Jorong Barutama Greston.PT - Indonesia
- Malabar Cements Ltd - India
- Antam Resourcindo - Indonesia
- Renaissance Capital - South Africa
- Vizag Seaport Private Limited - India
- Singapore Mercantile Exchange
- New Zealand Coal & Carbon
- AsiaOL BioFuels Corp., Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- San Jose City I Power Corp, Philippines
- Lanco Infratech Ltd - India
- Orica Mining Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Economic Council, Georgia
- Ceylon Electricity Board - Sri Lanka
- Vijayanagar Sugar Pvt Ltd - India
- Indika Energy - Indonesia
- Baramulti Group, Indonesia
- Mercator Lines Limited - India
- Rio Tinto Coal - Australia
- Sarangani Energy Corporation, Philippines
- SMC Global Power, Philippines
- Heidelberg Cement - Germany
- Planning Commission, India
- Karaikal Port Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Mercuria Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Kepco SPC Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- SN Aboitiz Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Attock Cement Pakistan Limited
- IHS Mccloskey Coal Group - USA
- Trasteel International SA, Italy
- Neyveli Lignite Corporation Ltd, - India
- Sindya Power Generating Company Private Ltd
- Port Waratah Coal Services - Australia
- Deloitte Consulting - India
- Electricity Generating Authority of Thailand
- Semirara Mining Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- The State Trading Corporation of India Ltd
- Borneo Indobara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Agrawal Coal Company - India
- Africa Commodities Group - South Africa
- Videocon Industries ltd - India
- OPG Power Generation Pvt Ltd - India
- Sojitz Corporation - Japan
- Wood Mackenzie - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Medco Energi Mining Internasional
- GN Power Mariveles Coal Plant, Philippines
- Tamil Nadu electricity Board
- Jindal Steel & Power Ltd - India
- Meenaskhi Energy Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Parliament of New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- South Luzon Thermal Energy Corporation
- London Commodity Brokers - England
- Global Green Power PLC Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Kobexindo Tractors - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Transport, Egypt
- Anglo American - United Kingdom
- Thai Mozambique Logistica
- White Energy Company Limited
- Energy Link Ltd, New Zealand
- Binh Thuan Hamico - Vietnam
- Straits Asia Resources Limited - Singapore
- Wilmar Investment Holdings
- GAC Shipping (India) Pvt Ltd
- Bhushan Steel Limited - India
- CIMB Investment Bank - Malaysia
- Indian Oil Corporation Limited
- Globalindo Alam Lestari - Indonesia
- Thiess Contractors Indonesia
- Sical Logistics Limited - India
- CNBM International Corporation - China
- Directorate Of Revenue Intelligence - India
- Iligan Light & Power Inc, Philippines
- GMR Energy Limited - India
- Power Finance Corporation Ltd., India
- Coastal Gujarat Power Limited - India
- Energy Development Corp, Philippines
- Cement Manufacturers Association - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Miang Besar Coal Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- Toyota Tsusho Corporation, Japan
- Formosa Plastics Group - Taiwan
- Central Electricity Authority - India
- VISA Power Limited - India
- Aditya Birla Group - India
- PTC India Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Energy Exchange, India
- Bhatia International Limited - India
- MS Steel International - UAE
- Therma Luzon, Inc, Philippines
- Ministry of Mines - Canada
- Banpu Public Company Limited - Thailand
- Madhucon Powers Ltd - India
- Mintek Dendrill Indonesia
- Metalloyd Limited - United Kingdom
- Price Waterhouse Coopers - Russia
- Star Paper Mills Limited - India
- Marubeni Corporation - India
- Bukit Makmur.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Coal and Oil Company - UAE
- Barasentosa Lestari - Indonesia
- GVK Power & Infra Limited - India
- Coalindo Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Edison Trading Spa - Italy
- Sree Jayajothi Cements Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- Standard Chartered Bank - UAE
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