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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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Monday, 01 November 21
COAL PRICES HAVE FURTHER ROOM TO DROP: TOP ECONOMIC PLANNER - GLOBAL TIMES
China’s top economic planner said coal prices have further room to drop on Friday, as the most traded coal futures dropped to below 1,000 yua ...
Saturday, 30 October 21
CHINA'S COAL PRICES SEE BIGGEST WEEKLY FALL IN MORE THAN 5 YEARS - REUTERS
China’s coal futures prices saw their biggest fall in more than five years after the powerful state planner said there is still room to adjus ...
Saturday, 30 October 21
G-20 LEADERS PREPARE STATEMENT TO STOP FUNDING FOREIGN COAL PLANTS - BLOOMBERG
Leaders of the Group of 20 wealthy economies are preparing to pledge to stop funding foreign coal-fired plants, but are still wrangling over climat ...
Friday, 29 October 21
APAC THERMAL COAL SUPPLY TO REMAIN TIGHT AS WINTER LOOMS - FITCH RATINGS
APAC thermal coal prices have surged, hitting historically high levels. The benchmark Newcastle 6,000kcal/kg grade coal reached USD228/tonne in mid ...
Thursday, 28 October 21
CANADA BAN ON SHIPPING COAL WOULD EQUAL SCRAPPING AS MANY AS 3 MILLION CARS - IEEFA
Canada ban on shipping coal would equal scrapping as many as 3 million cars
Change in Canadian policy could have major implications ...
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- Heidelberg Cement - Germany
- Ind-Barath Power Infra Limited - India
- Attock Cement Pakistan Limited
- Baramulti Group, Indonesia
- Meralco Power Generation, Philippines
- Central Electricity Authority - India
- Holcim Trading Pte Ltd - Singapore
- Anglo American - United Kingdom
- White Energy Company Limited
- Ministry of Finance - Indonesia
- Bukit Baiduri Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Electricity Generating Authority of Thailand
- Ambuja Cements Ltd - India
- Madhucon Powers Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Sinarmas Energy and Mining - Indonesia
- CIMB Investment Bank - Malaysia
- LBH Netherlands Bv - Netherlands
- Bhoruka Overseas - Indonesia
- PowerSource Philippines DevCo
- Australian Commodity Traders Exchange
- Deloitte Consulting - India
- Siam City Cement - Thailand
- MS Steel International - UAE
- Bangladesh Power Developement Board
- San Jose City I Power Corp, Philippines
- The University of Queensland
- Intertek Mineral Services - Indonesia
- Bulk Trading Sa - Switzerland
- South Luzon Thermal Energy Corporation
- Coalindo Energy - Indonesia
- Agrawal Coal Company - India
- Singapore Mercantile Exchange
- Independent Power Producers Association of India
- Georgia Ports Authority, United States
- SMC Global Power, Philippines
- Interocean Group of Companies - India
- New Zealand Coal & Carbon
- Power Finance Corporation Ltd., India
- Mintek Dendrill Indonesia
- GVK Power & Infra Limited - India
- Sree Jayajothi Cements Limited - India
- Sakthi Sugars Limited - India
- Africa Commodities Group - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining and Power Corporation, Philippines
- Tamil Nadu electricity Board
- Riau Bara Harum - Indonesia
- Rio Tinto Coal - Australia
- McConnell Dowell - Australia
- VISA Power Limited - India
- Minerals Council of Australia
- Standard Chartered Bank - UAE
- The State Trading Corporation of India Ltd
- Formosa Plastics Group - Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Coal and Oil Company - UAE
- Timah Investasi Mineral - Indoneisa
- Aditya Birla Group - India
- Price Waterhouse Coopers - Russia
- Renaissance Capital - South Africa
- Kobexindo Tractors - Indoneisa
- Parliament of New Zealand
- GMR Energy Limited - India
- Merrill Lynch Commodities Europe
- SMG Consultants - Indonesia
- Mercator Lines Limited - India
- Alfred C Toepfer International GmbH - Germany
- Essar Steel Hazira Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Orica Australia Pty. Ltd.
- AsiaOL BioFuels Corp., Philippines
- IEA Clean Coal Centre - UK
- Marubeni Corporation - India
- Altura Mining Limited, Indonesia
- Indika Energy - Indonesia
- Edison Trading Spa - Italy
- Globalindo Alam Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Planning Commission, India
- Gujarat Mineral Development Corp Ltd - India
- Malabar Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement PLC, Thailand
- Thiess Contractors Indonesia
- Energy Development Corp, Philippines
- Carbofer General Trading SA - India
- Rashtriya Ispat Nigam Limited - India
- Videocon Industries ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chamber of Mines of South Africa
- Wilmar Investment Holdings
- Directorate General of MIneral and Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Global Coal Blending Company Limited - Australia
- Posco Energy - South Korea
- Toyota Tsusho Corporation, Japan
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining Corp, Philippines
- Central Java Power - Indonesia
- Therma Luzon, Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- ASAPP Information Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- European Bulk Services B.V. - Netherlands
- Oldendorff Carriers - Singapore
- Bayan Resources Tbk. - Indonesia
- Straits Asia Resources Limited - Singapore
- Sarangani Energy Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Samtan Co., Ltd - South Korea
- Meenaskhi Energy Private Limited - India
- Romanian Commodities Exchange
- Global Business Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Ministry of Transport, Egypt
- Xindia Steels Limited - India
- Indian Oil Corporation Limited
- Cement Manufacturers Association - India
- Binh Thuan Hamico - Vietnam
- Eastern Coal Council - USA
- Bhushan Steel Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Banpu Public Company Limited - Thailand
- Electricity Authority, New Zealand
- Larsen & Toubro Limited - India
- London Commodity Brokers - England
- Borneo Indobara - Indonesia
- Bharathi Cement Corporation - India
- Ministry of Mines - Canada
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Mining Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Indo Tambangraya Megah - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Indian Energy Exchange, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- Metalloyd Limited - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Mercuria Energy - Indonesia
- Star Paper Mills Limited - India
- Barasentosa Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- The Treasury - Australian Government
- Kartika Selabumi Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- India Bulls Power Limited - India
- Economic Council, Georgia
- Dalmia Cement Bharat India
- CNBM International Corporation - China
- Karbindo Abesyapradhi - Indoneisa
- Indogreen Group - Indonesia
- Jindal Steel & Power Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Jaiprakash Power Ventures ltd
- Thai Mozambique Logistica
- Billiton Holdings Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- Wood Mackenzie - Singapore
- Ceylon Electricity Board - Sri Lanka
- Kapuas Tunggal Persada - Indonesia
- Commonwealth Bank - Australia
- Uttam Galva Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- Sical Logistics Limited - India
- Manunggal Multi Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Mjunction Services Limited - India
- Aboitiz Power Corporation - Philippines
- Goldman Sachs - Singapore
- Petron Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Sojitz Corporation - Japan
- Vizag Seaport Private Limited - India
- Trasteel International SA, Italy
- Australian Coal Association
- Kalimantan Lumbung Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Coastal Gujarat Power Limited - India
- Makarim & Taira - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Tata Chemicals Ltd - India
- Lanco Infratech Ltd - India
- Directorate Of Revenue Intelligence - India
- TeaM Sual Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Medco Energi Mining Internasional
- Gujarat Sidhee Cement - India
- Vedanta Resources Plc - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Grasim Industreis Ltd - India
- ICICI Bank Limited - India
- Bhatia International Limited - India
- PTC India Limited - India
- Bukit Makmur.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Parry Sugars Refinery, India
- Indonesian Coal Mining Association
- Energy Link Ltd, New Zealand
- Eastern Energy - Thailand
- GAC Shipping (India) Pvt Ltd
- Latin American Coal - Colombia
- Global Green Power PLC Corporation, Philippines
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