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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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Friday, 22 October 21
CHINA WANTS TO COOL COAL PRICES. SIMILAR MOVES FOR METALS, CRUDE FAILED - REUTERS
China’s latest attempt to lower runaway commodity prices, this time for thermal coal, is likely to follow a familiar pattern of initial succe ...
Friday, 22 October 21
HARD COAL REMAINS AN IMPORTANT FACTOR FOR SECURITY OF SUPPLY - COAL IMPORTERS ASSOCIATION, GERMANY
- Hard coal remains an important factor for security of supply
- Increase of around 35% in hard-coal-fired power generation in the first three ...
Wednesday, 20 October 21
CHINA'S COAL SHORTAGE TO EASE IN COMING MONTHS, INDUSTRY BODY SAYS - REUTERS
China’s coal shortage will likely ease in coming months, with domestic production and imports already showing signs of picking up, a coal ind ...
Wednesday, 20 October 21
CHINA'S RAW COAL OUTPUT DROPS IN SEPTEMBER - XINHUA
China’s raw coal output dropped 0.9 percent year on year to 330 million tonnes last month, data from the National Bureau of Statistics (NBS) ...
Wednesday, 20 October 21
OVER-RELIANCE ON COAL IN OUR POWER MIX HURTING INDIA - LIVEMINT
In spite of the renewables push, coal still accounts for about 50% of India’s installed power capacity. That means a simultaneous demand and ...
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- Petrochimia International Co. Ltd.- Taiwan
- Kobexindo Tractors - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Essar Steel Hazira Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Posco Energy - South Korea
- White Energy Company Limited
- Wood Mackenzie - Singapore
- Kideco Jaya Agung - Indonesia
- Iligan Light & Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- CNBM International Corporation - China
- Indonesian Coal Mining Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Baramulti Group, Indonesia
- Siam City Cement - Thailand
- Aboitiz Power Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- TeaM Sual Corporation - Philippines
- Gujarat Sidhee Cement - India
- Romanian Commodities Exchange
- Leighton Contractors Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- GVK Power & Infra Limited - India
- Attock Cement Pakistan Limited
- Coalindo Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Sojitz Corporation - Japan
- PNOC Exploration Corporation - Philippines
- Uttam Galva Steels Limited - India
- Thai Mozambique Logistica
- Standard Chartered Bank - UAE
- The Treasury - Australian Government
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Mines - Canada
- Gujarat Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Grasim Industreis Ltd - India
- The University of Queensland
- Tata Chemicals Ltd - India
- Sindya Power Generating Company Private Ltd
- Bukit Makmur.PT - Indonesia
- Rio Tinto Coal - Australia
- Anglo American - United Kingdom
- Makarim & Taira - Indonesia
- Orica Australia Pty. Ltd.
- Globalindo Alam Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- IHS Mccloskey Coal Group - USA
- Karaikal Port Pvt Ltd - India
- Mjunction Services Limited - India
- Mercuria Energy - Indonesia
- Medco Energi Mining Internasional
- Global Business Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Directorate Of Revenue Intelligence - India
- Trasteel International SA, Italy
- Miang Besar Coal Terminal - Indonesia
- Central Electricity Authority - India
- Asmin Koalindo Tuhup - Indonesia
- Economic Council, Georgia
- Electricity Authority, New Zealand
- Manunggal Multi Energi - Indonesia
- MS Steel International - UAE
- Bharathi Cement Corporation - India
- Altura Mining Limited, Indonesia
- Agrawal Coal Company - India
- Sree Jayajothi Cements Limited - India
- Pendopo Energi Batubara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Star Paper Mills Limited - India
- Ministry of Transport, Egypt
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Holcim Trading Pte Ltd - Singapore
- Chamber of Mines of South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Ambuja Cements Ltd - India
- PowerSource Philippines DevCo
- VISA Power Limited - India
- Merrill Lynch Commodities Europe
- Eastern Coal Council - USA
- Pipit Mutiara Jaya. PT, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Antam Resourcindo - Indonesia
- Jindal Steel & Power Ltd - India
- Kartika Selabumi Mining - Indonesia
- Eastern Energy - Thailand
- Billiton Holdings Pty Ltd - Australia
- Cement Manufacturers Association - India
- AsiaOL BioFuels Corp., Philippines
- Parry Sugars Refinery, India
- Neyveli Lignite Corporation Ltd, - India
- Energy Link Ltd, New Zealand
- Semirara Mining and Power Corporation, Philippines
- SMC Global Power, Philippines
- Port Waratah Coal Services - Australia
- Electricity Generating Authority of Thailand
- Barasentosa Lestari - Indonesia
- Bangladesh Power Developement Board
- OPG Power Generation Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- PTC India Limited - India
- Maheswari Brothers Coal Limited - India
- Interocean Group of Companies - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Development Corp, Philippines
- Indogreen Group - Indonesia
- Toyota Tsusho Corporation, Japan
- Jaiprakash Power Ventures ltd
- IEA Clean Coal Centre - UK
- Dalmia Cement Bharat India
- SMG Consultants - Indonesia
- ASAPP Information Group - India
- Siam City Cement PLC, Thailand
- Bulk Trading Sa - Switzerland
- Renaissance Capital - South Africa
- San Jose City I Power Corp, Philippines
- Bhatia International Limited - India
- LBH Netherlands Bv - Netherlands
- SN Aboitiz Power Inc, Philippines
- Bhushan Steel Limited - India
- Samtan Co., Ltd - South Korea
- Sinarmas Energy and Mining - Indonesia
- Xindia Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- Mercator Lines Limited - India
- Global Coal Blending Company Limited - Australia
- Meenaskhi Energy Private Limited - India
- Vedanta Resources Plc - India
- Deloitte Consulting - India
- Heidelberg Cement - Germany
- Indika Energy - Indonesia
- Videocon Industries ltd - India
- Savvy Resources Ltd - HongKong
- Malabar Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Carbofer General Trading SA - India
- Ceylon Electricity Board - Sri Lanka
- Oldendorff Carriers - Singapore
- ICICI Bank Limited - India
- Minerals Council of Australia
- Formosa Plastics Group - Taiwan
- European Bulk Services B.V. - Netherlands
- McConnell Dowell - Australia
- International Coal Ventures Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Wilmar Investment Holdings
- GAC Shipping (India) Pvt Ltd
- Mintek Dendrill Indonesia
- Ind-Barath Power Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Kaltim Prima Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Africa Commodities Group - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Price Waterhouse Coopers - Russia
- Australian Commodity Traders Exchange
- Independent Power Producers Association of India
- Riau Bara Harum - Indonesia
- Singapore Mercantile Exchange
- Marubeni Corporation - India
- South Luzon Thermal Energy Corporation
- Aditya Birla Group - India
- Simpson Spence & Young - Indonesia
- Semirara Mining Corp, Philippines
- Georgia Ports Authority, United States
- New Zealand Coal & Carbon
- Sical Logistics Limited - India
- Binh Thuan Hamico - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Indian Oil Corporation Limited
- GMR Energy Limited - India
- Power Finance Corporation Ltd., India
- The State Trading Corporation of India Ltd
- Australian Coal Association
- Orica Mining Services - Indonesia
- Bhoruka Overseas - Indonesia
- Coal and Oil Company - UAE
- Metalloyd Limited - United Kingdom
- Parliament of New Zealand
- London Commodity Brokers - England
- Latin American Coal - Colombia
- Edison Trading Spa - Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Finance - Indonesia
- Therma Luzon, Inc, Philippines
- Thiess Contractors Indonesia
- Larsen & Toubro Limited - India
- Tamil Nadu electricity Board
- Petron Corporation, Philippines
- Goldman Sachs - Singapore
- Kumho Petrochemical, South Korea
- Timah Investasi Mineral - Indoneisa
- Commonwealth Bank - Australia
- India Bulls Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Sakthi Sugars Limited - India
- Vizag Seaport Private Limited - India
- Indian Energy Exchange, India
- Lanco Infratech Ltd - India
- Planning Commission, India
- CIMB Investment Bank - Malaysia
- Madhucon Powers Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- Meralco Power Generation, Philippines
- Global Green Power PLC Corporation, Philippines
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