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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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Saturday, 16 October 21
DESPITE HIGHER COAL PRICES, U.S. COAL RECOVERY LOOKS WEAK BY MOST MEASURES - IEEFA
U.S. coal sector is locked into a long-term sectoral decline
Coal prices have surged to the highest level in years in the U.S., and have soare ...
Saturday, 16 October 21
COAL IS 'KING' AS GAS PRICES SOAR, TOTAL CEO SAYS - AND IT’S BACKFIRING ON CLEANER ENERGY GOALS - CNBC
Surging natural gas prices have led to a jump in coal use, with plants in Europe and Asia firing back up as temperatures decline and the world grap ...
Saturday, 16 October 21
VIETNAM'S COAL-FIRED POWER MAY DOUBLE BY 2030 UNDER DRAFT ENERGY PLAN - REUTERS
Vietnam may double the amount of coal-fired electric generation it installs by 2030 under a draft power development plan submitted to the prime min ...
Friday, 15 October 21
AUSTRALIA'S WHITEHAVEN EXPECTS TO BE DEBT-FREE NEXT YEAR AS COAL PRICES SOAR - REUTERS
Australia’s Whitehaven Coal WHC.AX said on Thursday it expects to be debt-free by early 2022, as thermal coal prices surge to record highs on ...
Friday, 15 October 21
WINTER CHILL KEEPS CHINA'S COAL PRICES HIGH, POWER CRUNCH STOKES INFLATION - REUTERS
China coal prices held near record highs on Thursday as cold weather swept into the country’s north and power plants stocked up on the fuel t ...
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- IHS Mccloskey Coal Group - USA
- Binh Thuan Hamico - Vietnam
- Mercuria Energy - Indonesia
- SMG Consultants - Indonesia
- Makarim & Taira - Indonesia
- Star Paper Mills Limited - India
- Chettinad Cement Corporation Ltd - India
- Barasentosa Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Globalindo Alam Lestari - Indonesia
- Bharathi Cement Corporation - India
- India Bulls Power Limited - India
- Power Finance Corporation Ltd., India
- Indonesian Coal Mining Association
- Semirara Mining Corp, Philippines
- Savvy Resources Ltd - HongKong
- Edison Trading Spa - Italy
- London Commodity Brokers - England
- Eastern Coal Council - USA
- White Energy Company Limited
- Thiess Contractors Indonesia
- Central Java Power - Indonesia
- The Treasury - Australian Government
- Kepco SPC Power Corporation, Philippines
- Coal and Oil Company - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bangladesh Power Developement Board
- Pipit Mutiara Jaya. PT, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Port Waratah Coal Services - Australia
- GVK Power & Infra Limited - India
- Orica Mining Services - Indonesia
- Gujarat Sidhee Cement - India
- Kideco Jaya Agung - Indonesia
- Energy Development Corp, Philippines
- Posco Energy - South Korea
- Videocon Industries ltd - India
- Metalloyd Limited - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- GMR Energy Limited - India
- Sinarmas Energy and Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vedanta Resources Plc - India
- Maheswari Brothers Coal Limited - India
- Indian Energy Exchange, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Straits Asia Resources Limited - Singapore
- Indogreen Group - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Minerals Council of Australia
- Agrawal Coal Company - India
- Marubeni Corporation - India
- VISA Power Limited - India
- Dalmia Cement Bharat India
- Carbofer General Trading SA - India
- Oldendorff Carriers - Singapore
- Parry Sugars Refinery, India
- Toyota Tsusho Corporation, Japan
- Australian Coal Association
- Borneo Indobara - Indonesia
- Ministry of Transport, Egypt
- Semirara Mining and Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Grasim Industreis Ltd - India
- Mintek Dendrill Indonesia
- IEA Clean Coal Centre - UK
- Bhatia International Limited - India
- Formosa Plastics Group - Taiwan
- ICICI Bank Limited - India
- Pendopo Energi Batubara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Larsen & Toubro Limited - India
- International Coal Ventures Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Wood Mackenzie - Singapore
- Tata Chemicals Ltd - India
- Holcim Trading Pte Ltd - Singapore
- McConnell Dowell - Australia
- Siam City Cement PLC, Thailand
- Timah Investasi Mineral - Indoneisa
- Riau Bara Harum - Indonesia
- Attock Cement Pakistan Limited
- Aditya Birla Group - India
- Directorate General of MIneral and Coal - Indonesia
- Australian Commodity Traders Exchange
- Krishnapatnam Port Company Ltd. - India
- Renaissance Capital - South Africa
- Electricity Authority, New Zealand
- Tamil Nadu electricity Board
- European Bulk Services B.V. - Netherlands
- Karaikal Port Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Trasteel International SA, Italy
- Malabar Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- Africa Commodities Group - South Africa
- Sical Logistics Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Indian Oil Corporation Limited
- Meralco Power Generation, Philippines
- Simpson Spence & Young - Indonesia
- Coalindo Energy - Indonesia
- Madhucon Powers Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Electricity Authority - India
- GAC Shipping (India) Pvt Ltd
- Bhoruka Overseas - Indonesia
- Essar Steel Hazira Ltd - India
- Kobexindo Tractors - Indoneisa
- Petron Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Commonwealth Bank - Australia
- Indika Energy - Indonesia
- Merrill Lynch Commodities Europe
- Manunggal Multi Energi - Indonesia
- Sojitz Corporation - Japan
- South Luzon Thermal Energy Corporation
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Finance - Indonesia
- Chamber of Mines of South Africa
- Uttam Galva Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement - Thailand
- Bhushan Steel Limited - India
- SMC Global Power, Philippines
- Global Green Power PLC Corporation, Philippines
- Lanco Infratech Ltd - India
- MS Steel International - UAE
- Petrochimia International Co. Ltd.- Taiwan
- PTC India Limited - India
- Rio Tinto Coal - Australia
- Economic Council, Georgia
- Medco Energi Mining Internasional
- Latin American Coal - Colombia
- Xindia Steels Limited - India
- Jindal Steel & Power Ltd - India
- Intertek Mineral Services - Indonesia
- Singapore Mercantile Exchange
- PowerSource Philippines DevCo
- Thai Mozambique Logistica
- Cigading International Bulk Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- LBH Netherlands Bv - Netherlands
- Global Business Power Corporation, Philippines
- Ministry of Mines - Canada
- Goldman Sachs - Singapore
- GN Power Mariveles Coal Plant, Philippines
- San Jose City I Power Corp, Philippines
- Heidelberg Cement - Germany
- CIMB Investment Bank - Malaysia
- New Zealand Coal & Carbon
- Vizag Seaport Private Limited - India
- Bulk Trading Sa - Switzerland
- Ambuja Cements Ltd - India
- Planning Commission, India
- CNBM International Corporation - China
- Sarangani Energy Corporation, Philippines
- Electricity Generating Authority of Thailand
- Ind-Barath Power Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Romanian Commodities Exchange
- Sindya Power Generating Company Private Ltd
- Price Waterhouse Coopers - Russia
- Rashtriya Ispat Nigam Limited - India
- Mjunction Services Limited - India
- Mercator Lines Limited - India
- Kapuas Tunggal Persada - Indonesia
- Baramulti Group, Indonesia
- Therma Luzon, Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Eastern Energy - Thailand
- Altura Mining Limited, Indonesia
- Orica Australia Pty. Ltd.
- Meenaskhi Energy Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Cement Manufacturers Association - India
- Leighton Contractors Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Interocean Group of Companies - India
- Banpu Public Company Limited - Thailand
- Sakthi Sugars Limited - India
- Wilmar Investment Holdings
- Bukit Baiduri Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Deloitte Consulting - India
- Iligan Light & Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Sree Jayajothi Cements Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parliament of New Zealand
- Bukit Makmur.PT - Indonesia
- The University of Queensland
- ASAPP Information Group - India
- Energy Link Ltd, New Zealand
- Ceylon Electricity Board - Sri Lanka
- PNOC Exploration Corporation - Philippines
- Standard Chartered Bank - UAE
- Antam Resourcindo - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Anglo American - United Kingdom
- Georgia Ports Authority, United States
- Independent Power Producers Association of India
- Global Coal Blending Company Limited - Australia
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