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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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Tuesday, 28 September 21
THE MAIDEN EDITION OF DIVE TECHNOLOGY SUMMIT 2021 CONCLUDES SUCCESSFULLY
Press Release: DIVE TECHNOLOGY SUMMIT 2021, a one-day conference on the recent technological advancements in the Industrial Diving industry conclud ...
Monday, 27 September 21
CHINESE COAL FIRMS MEET TO ADDRESS WINTER SUPPLY CHALLENGES - CNBC
Major Chinese coal producers are trying to resolve supply shortages and curb price rises as the country’s winter consumption peak approaches, ...
Saturday, 25 September 21
HIGH STAKES FOR ASIAN DEVELOPMENT BANK’S AMBITIOUS COAL POWER RETIREMENT PLAN - IEEFA
Implementation challenges could block funding for other equally important high impact clean energy funding strategies
In the lead up ...
Thursday, 23 September 21
LONGER COAL CONTRACTS MAY REIN IN PRICES - ECNS
In China’s coal sector that has been marred recently by price surges, regional authorities and related enterprises should ensure the fuel con ...
Thursday, 23 September 21
BALTIC INDEX HITS 12-YEAR PEAK ON FIRMER VESSELS RATES - REUTERS
The Baltic Exchange’s main dry bulk sea freight index rose for a fourth straight session on Wednesday to a 12-year high, buoyed by higher rat ...
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- Gujarat Mineral Development Corp Ltd - India
- Aditya Birla Group - India
- Directorate General of MIneral and Coal - Indonesia
- Orica Australia Pty. Ltd.
- Mintek Dendrill Indonesia
- Ind-Barath Power Infra Limited - India
- Indian Oil Corporation Limited
- The Treasury - Australian Government
- Renaissance Capital - South Africa
- PowerSource Philippines DevCo
- Georgia Ports Authority, United States
- Jindal Steel & Power Ltd - India
- Ambuja Cements Ltd - India
- The State Trading Corporation of India Ltd
- SMG Consultants - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Tamil Nadu electricity Board
- GAC Shipping (India) Pvt Ltd
- Krishnapatnam Port Company Ltd. - India
- Romanian Commodities Exchange
- Coastal Gujarat Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Sakthi Sugars Limited - India
- White Energy Company Limited
- Borneo Indobara - Indonesia
- IEA Clean Coal Centre - UK
- Miang Besar Coal Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Globalindo Alam Lestari - Indonesia
- CNBM International Corporation - China
- Toyota Tsusho Corporation, Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Tata Chemicals Ltd - India
- New Zealand Coal & Carbon
- Bukit Asam (Persero) Tbk - Indonesia
- Chamber of Mines of South Africa
- Merrill Lynch Commodities Europe
- Intertek Mineral Services - Indonesia
- Indian Energy Exchange, India
- Larsen & Toubro Limited - India
- Gujarat Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Global Green Power PLC Corporation, Philippines
- Edison Trading Spa - Italy
- Parry Sugars Refinery, India
- Petron Corporation, Philippines
- Antam Resourcindo - Indonesia
- Directorate Of Revenue Intelligence - India
- Holcim Trading Pte Ltd - Singapore
- Malabar Cements Ltd - India
- Makarim & Taira - Indonesia
- Orica Mining Services - Indonesia
- Banpu Public Company Limited - Thailand
- Meralco Power Generation, Philippines
- Mercuria Energy - Indonesia
- Altura Mining Limited, Indonesia
- Grasim Industreis Ltd - India
- Kobexindo Tractors - Indoneisa
- Uttam Galva Steels Limited - India
- Metalloyd Limited - United Kingdom
- Binh Thuan Hamico - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- South Luzon Thermal Energy Corporation
- IHS Mccloskey Coal Group - USA
- Anglo American - United Kingdom
- Gujarat Sidhee Cement - India
- Cigading International Bulk Terminal - Indonesia
- PTC India Limited - India
- PetroVietnam Power Coal Import and Supply Company
- London Commodity Brokers - England
- Barasentosa Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Kapuas Tunggal Persada - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- India Bulls Power Limited - India
- Indonesian Coal Mining Association
- Sojitz Corporation - Japan
- Energy Link Ltd, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Sarangani Energy Corporation, Philippines
- Riau Bara Harum - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Economic Council, Georgia
- Port Waratah Coal Services - Australia
- Kideco Jaya Agung - Indonesia
- Star Paper Mills Limited - India
- Siam City Cement PLC, Thailand
- GMR Energy Limited - India
- Independent Power Producers Association of India
- SMC Global Power, Philippines
- Deloitte Consulting - India
- Latin American Coal - Colombia
- Manunggal Multi Energi - Indonesia
- Singapore Mercantile Exchange
- Interocean Group of Companies - India
- Standard Chartered Bank - UAE
- Ceylon Electricity Board - Sri Lanka
- Ministry of Finance - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- SN Aboitiz Power Inc, Philippines
- VISA Power Limited - India
- Mjunction Services Limited - India
- Salva Resources Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Formosa Plastics Group - Taiwan
- Bhoruka Overseas - Indonesia
- Commonwealth Bank - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Bukit Baiduri Energy - Indonesia
- Central Java Power - Indonesia
- Indo Tambangraya Megah - Indonesia
- Indogreen Group - Indonesia
- Central Electricity Authority - India
- Bhushan Steel Limited - India
- Wood Mackenzie - Singapore
- Australian Coal Association
- GVK Power & Infra Limited - India
- Marubeni Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Baramulti Group, Indonesia
- Madhucon Powers Ltd - India
- Agrawal Coal Company - India
- Thiess Contractors Indonesia
- LBH Netherlands Bv - Netherlands
- Savvy Resources Ltd - HongKong
- Samtan Co., Ltd - South Korea
- Bharathi Cement Corporation - India
- Australian Commodity Traders Exchange
- Ministry of Transport, Egypt
- Aboitiz Power Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Global Business Power Corporation, Philippines
- Minerals Council of Australia
- Maheswari Brothers Coal Limited - India
- Therma Luzon, Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Kumho Petrochemical, South Korea
- Timah Investasi Mineral - Indoneisa
- Bhatia International Limited - India
- ASAPP Information Group - India
- Jaiprakash Power Ventures ltd
- Mercator Lines Limited - India
- Kartika Selabumi Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- The University of Queensland
- Xindia Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Sree Jayajothi Cements Limited - India
- Straits Asia Resources Limited - Singapore
- Medco Energi Mining Internasional
- Electricity Generating Authority of Thailand
- Trasteel International SA, Italy
- Meenaskhi Energy Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Posco Energy - South Korea
- Wilmar Investment Holdings
- European Bulk Services B.V. - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- MS Steel International - UAE
- Goldman Sachs - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Lanco Infratech Ltd - India
- San Jose City I Power Corp, Philippines
- Thai Mozambique Logistica
- Kepco SPC Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Power Finance Corporation Ltd., India
- Attock Cement Pakistan Limited
- Oldendorff Carriers - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Cement Manufacturers Association - India
- Dalmia Cement Bharat India
- Sindya Power Generating Company Private Ltd
- Coal and Oil Company - UAE
- Eastern Coal Council - USA
- Indika Energy - Indonesia
- Videocon Industries ltd - India
- Energy Development Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Planning Commission, India
- Pendopo Energi Batubara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- ICICI Bank Limited - India
- McConnell Dowell - Australia
- TeaM Sual Corporation - Philippines
- Vizag Seaport Private Limited - India
- Heidelberg Cement - Germany
- Siam City Cement - Thailand
- Africa Commodities Group - South Africa
- Carbofer General Trading SA - India
- Karaikal Port Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Vedanta Resources Plc - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rio Tinto Coal - Australia
- Electricity Authority, New Zealand
- Sical Logistics Limited - India
- Eastern Energy - Thailand
- Ministry of Mines - Canada
- Bangladesh Power Developement Board
- Simpson Spence & Young - Indonesia
- Parliament of New Zealand
- Semirara Mining Corp, Philippines
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