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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, 20 October 21
CHINA COAL HITS RECORD HIGH AMID TIGHT SUPPLIES - REUTERS
China coal prices hit a record high on Tuesday buoyed by a widening power crunch and cold weather despite Beijing’s efforts to bolster supply ...
Wednesday, 20 October 21
MARKET INSIGHT - INTERMODAL
IMO 2020, Ballast Water Treatment regulations, Green Recycling, GHG emissions, EEXI, CII, ETS, Fit for 55, Carbon price/levy, the Poseidon Principl ...
Tuesday, 19 October 21
SPONGE IRON SECTOR MIGHT REPORT NEGATIVE GROWTH DUE TO COAL CRISIS: SIMA - PTI
The domestic sponge iron industry might report a negative growth in the ongoing December quarter “if the shortage of coal is allowed to conti ...
Tuesday, 19 October 21
COAL INDIA, THE FALL GUY FOR POWER CRISIS - INDIA EXPRESS
The post-Covid economic recovery has led to a major increase in the demand for power, both in India and globally. In India, coal-based power plants ...
Saturday, 16 October 21
SOLAR INSTALLATION SURGE PUTS INDIA ON TRACK TO CAP COAL-FIRED POWER AS EARLY AS 2024 - IEEFA
Recent increase in solar power installations could push coal to peak sooner than expected
If India keeps installing solar capacity a ...
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- White Energy Company Limited
- Semirara Mining and Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Ministry of Mines - Canada
- Deloitte Consulting - India
- Intertek Mineral Services - Indonesia
- Ministry of Finance - Indonesia
- London Commodity Brokers - England
- Coal and Oil Company - UAE
- Meralco Power Generation, Philippines
- Commonwealth Bank - Australia
- Binh Thuan Hamico - Vietnam
- Thai Mozambique Logistica
- South Luzon Thermal Energy Corporation
- PTC India Limited - India
- International Coal Ventures Pvt Ltd - India
- Chamber of Mines of South Africa
- Indonesian Coal Mining Association
- Australian Coal Association
- Bahari Cakrawala Sebuku - Indonesia
- Riau Bara Harum - Indonesia
- Malabar Cements Ltd - India
- India Bulls Power Limited - India
- Straits Asia Resources Limited - Singapore
- Interocean Group of Companies - India
- Independent Power Producers Association of India
- VISA Power Limited - India
- Madhucon Powers Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Heidelberg Cement - Germany
- Ministry of Transport, Egypt
- Lanco Infratech Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Power Finance Corporation Ltd., India
- Mjunction Services Limited - India
- Eastern Energy - Thailand
- Manunggal Multi Energi - Indonesia
- Kumho Petrochemical, South Korea
- Aboitiz Power Corporation - Philippines
- Grasim Industreis Ltd - India
- GVK Power & Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Wilmar Investment Holdings
- ICICI Bank Limited - India
- Billiton Holdings Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Rio Tinto Coal - Australia
- Cement Manufacturers Association - India
- Energy Link Ltd, New Zealand
- Siam City Cement PLC, Thailand
- Therma Luzon, Inc, Philippines
- Karaikal Port Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- TeaM Sual Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- GAC Shipping (India) Pvt Ltd
- San Jose City I Power Corp, Philippines
- GMR Energy Limited - India
- Gujarat Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Bukit Makmur.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- IHS Mccloskey Coal Group - USA
- Vedanta Resources Plc - India
- Samtan Co., Ltd - South Korea
- Xindia Steels Limited - India
- Sojitz Corporation - Japan
- CIMB Investment Bank - Malaysia
- Simpson Spence & Young - Indonesia
- The State Trading Corporation of India Ltd
- Australian Commodity Traders Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Indo Tambangraya Megah - Indonesia
- Sical Logistics Limited - India
- Eastern Coal Council - USA
- Indogreen Group - Indonesia
- Directorate Of Revenue Intelligence - India
- Bulk Trading Sa - Switzerland
- Electricity Authority, New Zealand
- Parry Sugars Refinery, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asmin Koalindo Tuhup - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Vijayanagar Sugar Pvt Ltd - India
- Central Electricity Authority - India
- Sakthi Sugars Limited - India
- Banpu Public Company Limited - Thailand
- Aditya Birla Group - India
- Videocon Industries ltd - India
- Anglo American - United Kingdom
- Star Paper Mills Limited - India
- Vizag Seaport Private Limited - India
- The University of Queensland
- Bangladesh Power Developement Board
- Bharathi Cement Corporation - India
- CNBM International Corporation - China
- Chettinad Cement Corporation Ltd - India
- PowerSource Philippines DevCo
- Sindya Power Generating Company Private Ltd
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement - Thailand
- Toyota Tsusho Corporation, Japan
- Borneo Indobara - Indonesia
- Parliament of New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Agrawal Coal Company - India
- Salva Resources Pvt Ltd - India
- Baramulti Group, Indonesia
- Posco Energy - South Korea
- Goldman Sachs - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Antam Resourcindo - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Africa Commodities Group - South Africa
- Cigading International Bulk Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- ASAPP Information Group - India
- Leighton Contractors Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Petron Corporation, Philippines
- Marubeni Corporation - India
- Metalloyd Limited - United Kingdom
- Semirara Mining Corp, Philippines
- Trasteel International SA, Italy
- Bhatia International Limited - India
- Oldendorff Carriers - Singapore
- Central Java Power - Indonesia
- Essar Steel Hazira Ltd - India
- Indika Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Minerals Council of Australia
- Mercator Lines Limited - India
- Rashtriya Ispat Nigam Limited - India
- MS Steel International - UAE
- SMG Consultants - Indonesia
- Bhushan Steel Limited - India
- Pendopo Energi Batubara - Indonesia
- Standard Chartered Bank - UAE
- Kobexindo Tractors - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Dalmia Cement Bharat India
- Bhoruka Overseas - Indonesia
- The Treasury - Australian Government
- AsiaOL BioFuels Corp., Philippines
- Sarangani Energy Corporation, Philippines
- Singapore Mercantile Exchange
- PNOC Exploration Corporation - Philippines
- Georgia Ports Authority, United States
- SMC Global Power, Philippines
- Latin American Coal - Colombia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Economic Council, Georgia
- Global Business Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Mercuria Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Development Corp, Philippines
- Renaissance Capital - South Africa
- Kalimantan Lumbung Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- New Zealand Coal & Carbon
- Indian Oil Corporation Limited
- Jaiprakash Power Ventures ltd
- Barasentosa Lestari - Indonesia
- Electricity Generating Authority of Thailand
- Meenaskhi Energy Private Limited - India
- IEA Clean Coal Centre - UK
- Ind-Barath Power Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Tata Chemicals Ltd - India
- Carbofer General Trading SA - India
- Gujarat Sidhee Cement - India
- Tamil Nadu electricity Board
- Iligan Light & Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Medco Energi Mining Internasional
- Kaltim Prima Coal - Indonesia
- Planning Commission, India
- Thiess Contractors Indonesia
- Miang Besar Coal Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- Global Green Power PLC Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Holcim Trading Pte Ltd - Singapore
- Edison Trading Spa - Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wood Mackenzie - Singapore
- Mintek Dendrill Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Indian Energy Exchange, India
- Romanian Commodities Exchange
- Attock Cement Pakistan Limited
- Orica Australia Pty. Ltd.
- Altura Mining Limited, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Port Waratah Coal Services - Australia
- TNB Fuel Sdn Bhd - Malaysia
- OPG Power Generation Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Larsen & Toubro Limited - India
- Kideco Jaya Agung - Indonesia
- Orica Mining Services - Indonesia
- Ambuja Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Jorong Barutama Greston.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- McConnell Dowell - Australia
- Ceylon Electricity Board - Sri Lanka
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