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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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- Samtan Co., Ltd - South Korea
- London Commodity Brokers - England
- IEA Clean Coal Centre - UK
- Cement Manufacturers Association - India
- Jindal Steel & Power Ltd - India
- Kepco SPC Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- The Treasury - Australian Government
- Bulk Trading Sa - Switzerland
- Independent Power Producers Association of India
- Malabar Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Rio Tinto Coal - Australia
- GMR Energy Limited - India
- PTC India Limited - India
- SN Aboitiz Power Inc, Philippines
- Thiess Contractors Indonesia
- Kapuas Tunggal Persada - Indonesia
- The University of Queensland
- Antam Resourcindo - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- PowerSource Philippines DevCo
- Timah Investasi Mineral - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Australia Pty. Ltd.
- Kohat Cement Company Ltd. - Pakistan
- Holcim Trading Pte Ltd - Singapore
- Makarim & Taira - Indonesia
- Metalloyd Limited - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Bhushan Steel Limited - India
- Global Coal Blending Company Limited - Australia
- International Coal Ventures Pvt Ltd - India
- Videocon Industries ltd - India
- CNBM International Corporation - China
- Energy Development Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Tamil Nadu electricity Board
- Mjunction Services Limited - India
- Deloitte Consulting - India
- Jorong Barutama Greston.PT - Indonesia
- GVK Power & Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Sakthi Sugars Limited - India
- Romanian Commodities Exchange
- Maheswari Brothers Coal Limited - India
- Grasim Industreis Ltd - India
- IHS Mccloskey Coal Group - USA
- Bhatia International Limited - India
- Global Business Power Corporation, Philippines
- Commonwealth Bank - Australia
- Baramulti Group, Indonesia
- Standard Chartered Bank - UAE
- MS Steel International - UAE
- Sindya Power Generating Company Private Ltd
- Petron Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Link Ltd, New Zealand
- Larsen & Toubro Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Vizag Seaport Private Limited - India
- Economic Council, Georgia
- Bukit Asam (Persero) Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Therma Luzon, Inc, Philippines
- Anglo American - United Kingdom
- Orica Mining Services - Indonesia
- Heidelberg Cement - Germany
- Merrill Lynch Commodities Europe
- Star Paper Mills Limited - India
- LBH Netherlands Bv - Netherlands
- Aditya Birla Group - India
- Dalmia Cement Bharat India
- Bukit Makmur.PT - Indonesia
- Wood Mackenzie - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Sical Logistics Limited - India
- Coastal Gujarat Power Limited - India
- Indonesian Coal Mining Association
- SMC Global Power, Philippines
- Directorate Of Revenue Intelligence - India
- Electricity Generating Authority of Thailand
- Port Waratah Coal Services - Australia
- Bhoruka Overseas - Indonesia
- Central Java Power - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Kartika Selabumi Mining - Indonesia
- Madhucon Powers Ltd - India
- Coalindo Energy - Indonesia
- Ministry of Transport, Egypt
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Banpu Public Company Limited - Thailand
- Tata Chemicals Ltd - India
- OPG Power Generation Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Attock Cement Pakistan Limited
- South Luzon Thermal Energy Corporation
- Altura Mining Limited, Indonesia
- Meenaskhi Energy Private Limited - India
- Price Waterhouse Coopers - Russia
- Siam City Cement PLC, Thailand
- Ministry of Finance - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Posco Energy - South Korea
- Australian Coal Association
- Gujarat Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Directorate General of MIneral and Coal - Indonesia
- Interocean Group of Companies - India
- Africa Commodities Group - South Africa
- Kalimantan Lumbung Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kaltim Prima Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- Indogreen Group - Indonesia
- SMG Consultants - Indonesia
- Global Green Power PLC Corporation, Philippines
- VISA Power Limited - India
- Formosa Plastics Group - Taiwan
- Ambuja Cements Ltd - India
- Ministry of Mines - Canada
- Thai Mozambique Logistica
- Wilmar Investment Holdings
- TeaM Sual Corporation - Philippines
- Singapore Mercantile Exchange
- CIMB Investment Bank - Malaysia
- Edison Trading Spa - Italy
- ICICI Bank Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Eastern Coal Council - USA
- Bharathi Cement Corporation - India
- Borneo Indobara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Central Electricity Authority - India
- Intertek Mineral Services - Indonesia
- Oldendorff Carriers - Singapore
- Mercator Lines Limited - India
- Kobexindo Tractors - Indoneisa
- Barasentosa Lestari - Indonesia
- Goldman Sachs - Singapore
- Eastern Energy - Thailand
- Coal and Oil Company - UAE
- Lanco Infratech Ltd - India
- Indian Energy Exchange, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Planning Commission, India
- Iligan Light & Power Inc, Philippines
- Parliament of New Zealand
- New Zealand Coal & Carbon
- Petrochimia International Co. Ltd.- Taiwan
- Georgia Ports Authority, United States
- Essar Steel Hazira Ltd - India
- Indika Energy - Indonesia
- Vedanta Resources Plc - India
- The State Trading Corporation of India Ltd
- Karbindo Abesyapradhi - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Leighton Contractors Pty Ltd - Australia
- Trasteel International SA, Italy
- Karaikal Port Pvt Ltd - India
- Riau Bara Harum - Indonesia
- PNOC Exploration Corporation - Philippines
- Medco Energi Mining Internasional
- Bangladesh Power Developement Board
- Electricity Authority, New Zealand
- McConnell Dowell - Australia
- Xindia Steels Limited - India
- Power Finance Corporation Ltd., India
- White Energy Company Limited
- Indian Oil Corporation Limited
- Cigading International Bulk Terminal - Indonesia
- Carbofer General Trading SA - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Gujarat Sidhee Cement - India
- Manunggal Multi Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Uttam Galva Steels Limited - India
- Mercuria Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Meralco Power Generation, Philippines
- Salva Resources Pvt Ltd - India
- Latin American Coal - Colombia
- Indo Tambangraya Megah - Indonesia
- ASAPP Information Group - India
- Simpson Spence & Young - Indonesia
- Pendopo Energi Batubara - Indonesia
- Australian Commodity Traders Exchange
- Siam City Cement - Thailand
- Kumho Petrochemical, South Korea
- Jaiprakash Power Ventures ltd
- Parry Sugars Refinery, India
- Minerals Council of Australia
- Marubeni Corporation - India
- Mintek Dendrill Indonesia
- Chamber of Mines of South Africa
- Semirara Mining Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Sojitz Corporation - Japan
- European Bulk Services B.V. - Netherlands
- Renaissance Capital - South Africa
- Ceylon Electricity Board - Sri Lanka
- Globalindo Alam Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- India Bulls Power Limited - India
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