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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, 11 September 21
CIL STEPS UP SUPPLY COAL TO POWER SECTOR; PER-DAY AVERAGE 20 PC HIGHER THAN LAST YEAR - PTI
State-owned CIL on Friday said it has stepped up the supply of coal to the power sector in the first eight days of the current month, with an avera ...
Saturday, 11 September 21
RECORD CHINESE COAL FUTURES SIGNAL NEED TO BOOST OUTPUT - REUTERS
China’s coal prices have climbed to a record high, signaling the need for more production in the short term, even as the government tries to ...
Saturday, 11 September 21
IN 2022, EIA EXPECTS U.S. COAL PRODUCTION TO INCREASE BY 47 MMST TO 648 MMST
U.S. Coal production accordng to EIA's forecast, totals 601 million short tons (MMst) in 2021, 66 MMst more than in 2020, EIA's Short-Term ...
Wednesday, 08 September 21
FITCH RATINGS RAISES THERMAL COAL PRICE ASSUMPTIONS ON TIGHT SUPPLY
Fitch Ratings has increased all its Qinhuangdao 5,500kcal/kg price assumptions and short- and medium-term Newcastle 6,000kcal/kg price assumptions ...
Wednesday, 08 September 21
COAL IS STILL KING; INDONESIAN COAL PRICE REFERENCE ABOVE $150 FOR FIRST TIME IN HISTORY
COALspot.com: The Indonesian Coal Price Reference rose dramatically from US$ 127.05 in February 2011, to a peak of US$ 150.03 in September 2021, be ...
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- Africa Commodities Group - South Africa
- Leighton Contractors Pty Ltd - Australia
- Rio Tinto Coal - Australia
- Power Finance Corporation Ltd., India
- Iligan Light & Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Posco Energy - South Korea
- PowerSource Philippines DevCo
- Makarim & Taira - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- London Commodity Brokers - England
- CIMB Investment Bank - Malaysia
- The Treasury - Australian Government
- Chamber of Mines of South Africa
- Malabar Cements Ltd - India
- Agrawal Coal Company - India
- Australian Coal Association
- Renaissance Capital - South Africa
- Electricity Generating Authority of Thailand
- Kapuas Tunggal Persada - Indonesia
- Timah Investasi Mineral - Indoneisa
- Vizag Seaport Private Limited - India
- Coal and Oil Company - UAE
- Simpson Spence & Young - Indonesia
- Central Electricity Authority - India
- Ind-Barath Power Infra Limited - India
- Indogreen Group - Indonesia
- Vedanta Resources Plc - India
- South Luzon Thermal Energy Corporation
- TeaM Sual Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Indian Oil Corporation Limited
- The State Trading Corporation of India Ltd
- Bukit Baiduri Energy - Indonesia
- Georgia Ports Authority, United States
- Eastern Coal Council - USA
- Neyveli Lignite Corporation Ltd, - India
- San Jose City I Power Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Global Business Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Bhushan Steel Limited - India
- Bukit Makmur.PT - Indonesia
- Energy Development Corp, Philippines
- Central Java Power - Indonesia
- Mintek Dendrill Indonesia
- Wood Mackenzie - Singapore
- Riau Bara Harum - Indonesia
- Sree Jayajothi Cements Limited - India
- Sojitz Corporation - Japan
- Uttam Galva Steels Limited - India
- The University of Queensland
- Chettinad Cement Corporation Ltd - India
- Sarangani Energy Corporation, Philippines
- Interocean Group of Companies - India
- Ambuja Cements Ltd - India
- ASAPP Information Group - India
- Globalindo Alam Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Thiess Contractors Indonesia
- Kideco Jaya Agung - Indonesia
- Mjunction Services Limited - India
- Ministry of Transport, Egypt
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Samtan Co., Ltd - South Korea
- Aboitiz Power Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining and Power Corporation, Philippines
- SMC Global Power, Philippines
- Medco Energi Mining Internasional
- PTC India Limited - India
- Energy Link Ltd, New Zealand
- Planning Commission, India
- Madhucon Powers Ltd - India
- Semirara Mining Corp, Philippines
- Wilmar Investment Holdings
- Offshore Bulk Terminal Pte Ltd, Singapore
- Romanian Commodities Exchange
- CNBM International Corporation - China
- Parliament of New Zealand
- Intertek Mineral Services - Indonesia
- Commonwealth Bank - Australia
- Bangladesh Power Developement Board
- Maharashtra Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- Ministry of Mines - Canada
- Indo Tambangraya Megah - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kepco SPC Power Corporation, Philippines
- Dalmia Cement Bharat India
- Banpu Public Company Limited - Thailand
- Parry Sugars Refinery, India
- SN Aboitiz Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coastal Gujarat Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Pendopo Energi Batubara - Indonesia
- GVK Power & Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- Attock Cement Pakistan Limited
- Metalloyd Limited - United Kingdom
- SMG Consultants - Indonesia
- Lanco Infratech Ltd - India
- Jindal Steel & Power Ltd - India
- Mercuria Energy - Indonesia
- Bharathi Cement Corporation - India
- Baramulti Group, Indonesia
- Port Waratah Coal Services - Australia
- Thai Mozambique Logistica
- IEA Clean Coal Centre - UK
- MS Steel International - UAE
- Kalimantan Lumbung Energi - Indonesia
- Orica Mining Services - Indonesia
- Bhatia International Limited - India
- Krishnapatnam Port Company Ltd. - India
- IHS Mccloskey Coal Group - USA
- Binh Thuan Hamico - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Australian Commodity Traders Exchange
- Price Waterhouse Coopers - Russia
- Siam City Cement PLC, Thailand
- Anglo American - United Kingdom
- Carbofer General Trading SA - India
- Rashtriya Ispat Nigam Limited - India
- Meenaskhi Energy Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Latin American Coal - Colombia
- Edison Trading Spa - Italy
- Aditya Birla Group - India
- Ministry of Finance - Indonesia
- LBH Netherlands Bv - Netherlands
- Meralco Power Generation, Philippines
- PNOC Exploration Corporation - Philippines
- McConnell Dowell - Australia
- Independent Power Producers Association of India
- GMR Energy Limited - India
- Grasim Industreis Ltd - India
- VISA Power Limited - India
- Maheswari Brothers Coal Limited - India
- Standard Chartered Bank - UAE
- Jaiprakash Power Ventures ltd
- Petrochimia International Co. Ltd.- Taiwan
- Borneo Indobara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tamil Nadu electricity Board
- Global Green Power PLC Corporation, Philippines
- New Zealand Coal & Carbon
- Electricity Authority, New Zealand
- OPG Power Generation Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Australia Pty. Ltd.
- White Energy Company Limited
- GAC Shipping (India) Pvt Ltd
- Alfred C Toepfer International GmbH - Germany
- Global Coal Blending Company Limited - Australia
- Trasteel International SA, Italy
- Toyota Tsusho Corporation, Japan
- Singapore Mercantile Exchange
- Directorate General of MIneral and Coal - Indonesia
- Economic Council, Georgia
- Indonesian Coal Mining Association
- Gujarat Mineral Development Corp Ltd - India
- Deloitte Consulting - India
- Marubeni Corporation - India
- Star Paper Mills Limited - India
- Bulk Trading Sa - Switzerland
- Videocon Industries ltd - India
- India Bulls Power Limited - India
- Eastern Energy - Thailand
- Merrill Lynch Commodities Europe
- Tata Chemicals Ltd - India
- Therma Luzon, Inc, Philippines
- Petron Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Coalindo Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Indian Energy Exchange, India
- Cement Manufacturers Association - India
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Sidhee Cement - India
- Billiton Holdings Pty Ltd - Australia
- Minerals Council of Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Goldman Sachs - Singapore
- Savvy Resources Ltd - HongKong
- Kumho Petrochemical, South Korea
- Straits Asia Resources Limited - Singapore
- Mercator Lines Limited - India
- Barasentosa Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Siam City Cement - Thailand
- Sakthi Sugars Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Karaikal Port Pvt Ltd - India
- Heidelberg Cement - Germany
- Indika Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- ICICI Bank Limited - India
- Kartika Selabumi Mining - Indonesia
- Sical Logistics Limited - India
- Directorate Of Revenue Intelligence - India
- Xindia Steels Limited - India
- Oldendorff Carriers - Singapore
- International Coal Ventures Pvt Ltd - India
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