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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, 11 October 21
COAL ABANDONMENT IN POWER GENERATION PROMOTED GAS DEMAND GROWTH IN EUROPE - TOP MANAGER: TASS
Accelerated abandonment of coal in power generation and the overall recovery of economic activity facilitated gas demand growth in Europe and led t ...
Saturday, 09 October 21
CHINA POWER CUTS: COAL MINERS ORDERED TO BOOST OUTPUT, SAY REPORTS - BBC
Beijing has reportedly ordered China’s coal mines to boost output as an energy shortage across the country has seen millions of homes and bus ...
Friday, 08 October 21
SEPTEMBER CRUDE OIL TANKER DEMOLISHING HITS 39-MONTHS HIGH AT 1.9M DWT - PETER SAND
Has the lid finally come off for crude oil tanker demolition in 2021? If judged by the 1.9m DWT of capacity that was removed in September, the answ ...
Friday, 08 October 21
COAL SHORTAGE MAY LEAD TO RISE IN STEEL PRICES IN COMING MONTHS: JSPL MD - PTI
Steel prices are expected to increase in the coming months as companies are buying coal at three times the rates a month ago, said a top industry e ...
Wednesday, 06 October 21
INDONESIA COAL PRICE REFERENCE: ANOTHER MONTH, ANOTHER RALLY
COALspot.com: Indonesian Coal Price Reference in a steep climb for most of second and third quarters of 2021 as it reached a pinnacle of $161.63 Oc ...
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- Energy Link Ltd, New Zealand
- Wilmar Investment Holdings
- Chamber of Mines of South Africa
- Kartika Selabumi Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Attock Cement Pakistan Limited
- PNOC Exploration Corporation - Philippines
- Altura Mining Limited, Indonesia
- Sindya Power Generating Company Private Ltd
- Petron Corporation, Philippines
- Thai Mozambique Logistica
- CIMB Investment Bank - Malaysia
- Chettinad Cement Corporation Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- ICICI Bank Limited - India
- Power Finance Corporation Ltd., India
- Bank of Tokyo Mitsubishi UFJ Ltd
- The Treasury - Australian Government
- Vizag Seaport Private Limited - India
- Siam City Cement - Thailand
- Madhucon Powers Ltd - India
- IHS Mccloskey Coal Group - USA
- SMG Consultants - Indonesia
- OPG Power Generation Pvt Ltd - India
- Marubeni Corporation - India
- PowerSource Philippines DevCo
- Indian Energy Exchange, India
- Borneo Indobara - Indonesia
- Bhushan Steel Limited - India
- Uttam Galva Steels Limited - India
- Siam City Cement PLC, Thailand
- Trasteel International SA, Italy
- Savvy Resources Ltd - HongKong
- Coal and Oil Company - UAE
- Indogreen Group - Indonesia
- European Bulk Services B.V. - Netherlands
- Semirara Mining Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Goldman Sachs - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Bharathi Cement Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Baramulti Group, Indonesia
- LBH Netherlands Bv - Netherlands
- Essar Steel Hazira Ltd - India
- Ministry of Finance - Indonesia
- Aboitiz Power Corporation - Philippines
- SMC Global Power, Philippines
- Dalmia Cement Bharat India
- Pendopo Energi Batubara - Indonesia
- Sakthi Sugars Limited - India
- Coalindo Energy - Indonesia
- Bangladesh Power Developement Board
- Central Electricity Authority - India
- Xindia Steels Limited - India
- Iligan Light & Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Medco Energi Mining Internasional
- Anglo American - United Kingdom
- Independent Power Producers Association of India
- Kideco Jaya Agung - Indonesia
- Standard Chartered Bank - UAE
- Sree Jayajothi Cements Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Edison Trading Spa - Italy
- Eastern Energy - Thailand
- Star Paper Mills Limited - India
- GMR Energy Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Videocon Industries ltd - India
- ASAPP Information Group - India
- Jorong Barutama Greston.PT - Indonesia
- Cement Manufacturers Association - India
- Sinarmas Energy and Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- IEA Clean Coal Centre - UK
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Mintek Dendrill Indonesia
- Indian Oil Corporation Limited
- Kumho Petrochemical, South Korea
- Gujarat Mineral Development Corp Ltd - India
- San Jose City I Power Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- AsiaOL BioFuels Corp., Philippines
- New Zealand Coal & Carbon
- McConnell Dowell - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Tamil Nadu electricity Board
- Rashtriya Ispat Nigam Limited - India
- Tata Chemicals Ltd - India
- London Commodity Brokers - England
- VISA Power Limited - India
- Sarangani Energy Corporation, Philippines
- Eastern Coal Council - USA
- Antam Resourcindo - Indonesia
- Mjunction Services Limited - India
- CNBM International Corporation - China
- Global Business Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- PTC India Limited - India
- Samtan Co., Ltd - South Korea
- Merrill Lynch Commodities Europe
- Kohat Cement Company Ltd. - Pakistan
- Bukit Makmur.PT - Indonesia
- Interocean Group of Companies - India
- Kobexindo Tractors - Indoneisa
- Toyota Tsusho Corporation, Japan
- Economic Council, Georgia
- Karbindo Abesyapradhi - Indoneisa
- Bhoruka Overseas - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TeaM Sual Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Intertek Mineral Services - Indonesia
- Makarim & Taira - Indonesia
- Larsen & Toubro Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Energy Development Corp, Philippines
- Wood Mackenzie - Singapore
- Billiton Holdings Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- Therma Luzon, Inc, Philippines
- Renaissance Capital - South Africa
- Manunggal Multi Energi - Indonesia
- Australian Coal Association
- Simpson Spence & Young - Indonesia
- Africa Commodities Group - South Africa
- India Bulls Power Limited - India
- Meralco Power Generation, Philippines
- Ministry of Transport, Egypt
- Indika Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- White Energy Company Limited
- Price Waterhouse Coopers - Russia
- Parliament of New Zealand
- Malabar Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Global Coal Blending Company Limited - Australia
- Coastal Gujarat Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- Riau Bara Harum - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- The State Trading Corporation of India Ltd
- Sojitz Corporation - Japan
- Minerals Council of Australia
- Georgia Ports Authority, United States
- Orica Mining Services - Indonesia
- Straits Asia Resources Limited - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Parry Sugars Refinery, India
- Salva Resources Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Heidelberg Cement - Germany
- Vedanta Resources Plc - India
- Binh Thuan Hamico - Vietnam
- Timah Investasi Mineral - Indoneisa
- MS Steel International - UAE
- Agrawal Coal Company - India
- Commonwealth Bank - Australia
- GAC Shipping (India) Pvt Ltd
- Posco Energy - South Korea
- Orica Australia Pty. Ltd.
- Aditya Birla Group - India
- Romanian Commodities Exchange
- Singapore Mercantile Exchange
- Rio Tinto Coal - Australia
- Bukit Baiduri Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Indonesian Coal Mining Association
- Planning Commission, India
- TNB Fuel Sdn Bhd - Malaysia
- Bhatia International Limited - India
- Cigading International Bulk Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Ministry of Mines - Canada
- Karaikal Port Pvt Ltd - India
- Mercuria Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Deloitte Consulting - India
- Ceylon Electricity Board - Sri Lanka
- Central Java Power - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Metalloyd Limited - United Kingdom
- Kaltim Prima Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Oldendorff Carriers - Singapore
- Ambuja Cements Ltd - India
- Mercator Lines Limited - India
- Port Waratah Coal Services - Australia
- Electricity Authority, New Zealand
- Australian Commodity Traders Exchange
- Latin American Coal - Colombia
- Carbofer General Trading SA - India
- The University of Queensland
- Petrochimia International Co. Ltd.- Taiwan
- Jindal Steel & Power Ltd - India
- Gujarat Sidhee Cement - India
- Grasim Industreis Ltd - India
- Thiess Contractors Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sical Logistics Limited - India
- South Luzon Thermal Energy Corporation
- GN Power Mariveles Coal Plant, Philippines
- Ind-Barath Power Infra Limited - India
- Electricity Generating Authority of Thailand
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