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Wednesday, 09 February 22
MARKET INSIGHT - INTERMODAL
 Iron ore prices have jumped significantly in the week prior to the Chinese New Year with traders and producers stocking up on raw materials. China’s stronger-than-expected steel production, combined with an aggressive restocking of inventory levels and the country’s ports had driven iron ore prices well above expectations.
Iron ore stocks have also spiked as analysts upgrade their price forecasts for the commodity on the back of another unexpected recovery. The record prices of last May tumbled unexpectedly fast to under $US100 a tonne, and currently iron ore is taking the pundits again by surprise with a new run that now has it back near $US150/t. The sentiment is apparently still driven by signals about increased infrastructure spending in China and upgraded price forecasts. Nevertheless, and apart from the price of the commodity itself, it is very important that we still see the good fundamentals and dynamics there, which in any case support our overall optimism and hopes that better and more stable freight rates for Capes must be around the corner.
Looking at Australian iron ore exports to China, it is positive to see they remained robust last month despite the backdrop of rising market prices due to multiple factors including weather disruption and labor “shortage” concerns. Industry analysts said the proportion of Australian iron ore in China’s total iron ore imports may be reduced to below 60 percent in 2022 for the first time since 2015, especially as China is still diversifying its sources of supplies and deepening industry upgrading while pursuing low-carbon targets at the same time.
The price of iron ore was also reflected in the rising imports in China in recent weeks, and perhaps it is more important to keep an eye on inventory levels as well. According to data from industry sources, the total inventory of iron ore imported by steel mills across China reached about 117.57 million tons this week, an increase of 470,200 tons from the previous month. Of course it is always possible that the price increase could simply and perhaps only be related to seasonal speculation itself.
Overall since 2015, China’s iron ore imports from Australia and Brazil have accounted for nearly 80 percent of all imports, of which imports from Australia have exceeded 60 percent. Bilateral relations have soured again recently due to Australia’s attitude toward China, which has caused disruption for trade activities. Iron ore exports are still among the few remaining products that are still in high demand in China, partly due to the needs of the domestic construction sector. However, the expectation is that import proportion from Australia in 2022 is likely to drop below 60 percent, having been 61.6 percent in 2021 and 62.5 percent in 2020. We also hear a lot about the change in policy and the potential domestic supply of iron ore in China, not sure however if all this is something that will really re-shape the market dynamics in the future.
By Christopher Whitty,
Director, Towage & Marine Port Services
Compiled by:
Intermodal Research & Valuations
Analysts:
Yiannis Parganas
Tamara Apostolou
Disclaimer and legal disclosure: For any further queries please do not hesitate to contact our Research & Valuations Department. The information contained in this report has been obtained from various sources, as reported in the market. Intermodal Shipbrokers Co. believes such information to be factual and reliable without making guarantees regarding its accuracy or completeness. Whilst every care has been taken in the production of the above review, no liability can be accepted for any loss or damage incurred in any way whatsoever by any person who may seek to rely on the information and views contained in this material. This report is being produced for the internal use of the intended recipients only and no reproducing is allowed, without the prior written authorization of Intermodal Shipbrokers Co.
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Thursday, 10 February 22
EIA ANALYSIS CONSIDERS DIFFERENT OUTCOMES FOR COAL MARKETS IN INDIA AND SOUTHEAST ASIA
In our International Energy Outlook 2021 (IEO2021) Issues in Focus: Uncertainty in Coal Trade in India and Greater Southeast Asia, we analyze three ...
Wednesday, 09 February 22
OIL PRICES: "IT'S GOING TO BE VERY EASY" TO GET TO $100/BARREL, ANALYST SAYS - YAHOO FINANCE
Energy and oil prices have been on fire over the last six months — and expect them to go higher, says one analyst.
“For ...
Wednesday, 09 February 22
FEBRUARY HBA HITS RECORD HIGH IN 2022 ON INDONESIA’S EXPORT BAN IN JANUARY, WORSEN SUPPLY, UKRAINE TENSIONS
COALspot.com: Indonesian Coal Price Reference for February in a steep climb from January 2022.
As expected in January the Indonesia ...
Wednesday, 09 February 22
CHINESE COAL MARKS BEST DAY IN 4 MONTHS ON TIGHT SUPPLY, HIGH DEMAND - REUTERS
China’s coal futures on Tuesday recorded their best session since Bejing’s mid-October intervention to cool runaway prices, aided by co ...
Friday, 04 February 22
RENEWABLES ON THE RISE, COAL CONTINUOUSLY FALLING - EUROPEAN COMMISSION
Although oil (34.5%) and natural gas (23.7%) were still the most important fuel sources in the EU energy mix in 2020, renewable energy’s shar ...
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- IEA Clean Coal Centre - UK
- Iligan Light & Power Inc, Philippines
- Australian Coal Association
- Gujarat Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Simpson Spence & Young - Indonesia
- Antam Resourcindo - Indonesia
- Chamber of Mines of South Africa
- Krishnapatnam Port Company Ltd. - India
- Electricity Authority, New Zealand
- Posco Energy - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kepco SPC Power Corporation, Philippines
- Xindia Steels Limited - India
- Sakthi Sugars Limited - India
- Global Business Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Larsen & Toubro Limited - India
- ICICI Bank Limited - India
- Salva Resources Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Alfred C Toepfer International GmbH - Germany
- Samtan Co., Ltd - South Korea
- Independent Power Producers Association of India
- Bukit Makmur.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Meralco Power Generation, Philippines
- Marubeni Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thai Mozambique Logistica
- Global Coal Blending Company Limited - Australia
- Savvy Resources Ltd - HongKong
- Riau Bara Harum - Indonesia
- Siam City Cement - Thailand
- Wood Mackenzie - Singapore
- New Zealand Coal & Carbon
- Anglo American - United Kingdom
- Eastern Coal Council - USA
- Binh Thuan Hamico - Vietnam
- The State Trading Corporation of India Ltd
- CNBM International Corporation - China
- Bukit Asam (Persero) Tbk - Indonesia
- Central Electricity Authority - India
- Port Waratah Coal Services - Australia
- IHS Mccloskey Coal Group - USA
- Kideco Jaya Agung - Indonesia
- Bulk Trading Sa - Switzerland
- Manunggal Multi Energi - Indonesia
- Madhucon Powers Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Kartika Selabumi Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Petrochimia International Co. Ltd.- Taiwan
- European Bulk Services B.V. - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Development Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mjunction Services Limited - India
- Mintek Dendrill Indonesia
- Baramulti Group, Indonesia
- Miang Besar Coal Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Cement Manufacturers Association - India
- Merrill Lynch Commodities Europe
- Ministry of Transport, Egypt
- Bhatia International Limited - India
- Toyota Tsusho Corporation, Japan
- Star Paper Mills Limited - India
- Bangladesh Power Developement Board
- CIMB Investment Bank - Malaysia
- Renaissance Capital - South Africa
- Goldman Sachs - Singapore
- PowerSource Philippines DevCo
- Directorate Of Revenue Intelligence - India
- Sarangani Energy Corporation, Philippines
- Standard Chartered Bank - UAE
- OPG Power Generation Pvt Ltd - India
- Indika Energy - Indonesia
- GVK Power & Infra Limited - India
- Banpu Public Company Limited - Thailand
- Indian Oil Corporation Limited
- San Jose City I Power Corp, Philippines
- The University of Queensland
- Kobexindo Tractors - Indoneisa
- Ind-Barath Power Infra Limited - India
- Coalindo Energy - Indonesia
- Gujarat Sidhee Cement - India
- Mercuria Energy - Indonesia
- McConnell Dowell - Australia
- Thiess Contractors Indonesia
- Dalmia Cement Bharat India
- India Bulls Power Limited - India
- Power Finance Corporation Ltd., India
- Maheswari Brothers Coal Limited - India
- Ministry of Finance - Indonesia
- ASAPP Information Group - India
- TNB Fuel Sdn Bhd - Malaysia
- LBH Netherlands Bv - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Commonwealth Bank - Australia
- Neyveli Lignite Corporation Ltd, - India
- Sindya Power Generating Company Private Ltd
- Attock Cement Pakistan Limited
- Bharathi Cement Corporation - India
- Deloitte Consulting - India
- Heidelberg Cement - Germany
- Kumho Petrochemical, South Korea
- Global Green Power PLC Corporation, Philippines
- Latin American Coal - Colombia
- Grasim Industreis Ltd - India
- Georgia Ports Authority, United States
- Altura Mining Limited, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- Straits Asia Resources Limited - Singapore
- Medco Energi Mining Internasional
- Aboitiz Power Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- MS Steel International - UAE
- Planning Commission, India
- VISA Power Limited - India
- Ambuja Cements Ltd - India
- Agrawal Coal Company - India
- Bhushan Steel Limited - India
- Barasentosa Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Petron Corporation, Philippines
- Mercator Lines Limited - India
- Coal and Oil Company - UAE
- Makarim & Taira - Indonesia
- Jindal Steel & Power Ltd - India
- South Luzon Thermal Energy Corporation
- International Coal Ventures Pvt Ltd - India
- Romanian Commodities Exchange
- Intertek Mineral Services - Indonesia
- Central Java Power - Indonesia
- Lanco Infratech Ltd - India
- Oldendorff Carriers - Singapore
- Tata Chemicals Ltd - India
- Sical Logistics Limited - India
- Metalloyd Limited - United Kingdom
- Essar Steel Hazira Ltd - India
- Uttam Galva Steels Limited - India
- Minerals Council of Australia
- SMC Global Power, Philippines
- Kaltim Prima Coal - Indonesia
- Parry Sugars Refinery, India
- London Commodity Brokers - England
- Therma Luzon, Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Indian Energy Exchange, India
- Singapore Mercantile Exchange
- White Energy Company Limited
- Indonesian Coal Mining Association
- Vizag Seaport Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- GN Power Mariveles Coal Plant, Philippines
- Timah Investasi Mineral - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Vedanta Resources Plc - India
- Interocean Group of Companies - India
- Rio Tinto Coal - Australia
- Holcim Trading Pte Ltd - Singapore
- Videocon Industries ltd - India
- GAC Shipping (India) Pvt Ltd
- GMR Energy Limited - India
- Trasteel International SA, Italy
- Bahari Cakrawala Sebuku - Indonesia
- Economic Council, Georgia
- Kapuas Tunggal Persada - Indonesia
- Edison Trading Spa - Italy
- Malabar Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Wilmar Investment Holdings
- The Treasury - Australian Government
- SN Aboitiz Power Inc, Philippines
- Parliament of New Zealand
- Gujarat Mineral Development Corp Ltd - India
- TeaM Sual Corporation - Philippines
- Semirara Mining Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Africa Commodities Group - South Africa
- Jaiprakash Power Ventures ltd
- Chettinad Cement Corporation Ltd - India
- Electricity Generating Authority of Thailand
- Jorong Barutama Greston.PT - Indonesia
- Sojitz Corporation - Japan
- Australian Commodity Traders Exchange
- Directorate General of MIneral and Coal - Indonesia
- Carbofer General Trading SA - India
- Eastern Energy - Thailand
- Aditya Birla Group - India
- Karaikal Port Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Energy Link Ltd, New Zealand
- Tamil Nadu electricity Board
- Orica Australia Pty. Ltd.
- Ministry of Mines - Canada
- PTC India Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Sree Jayajothi Cements Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Kalimantan Lumbung Energi - Indonesia
- Orica Mining Services - Indonesia
- Indogreen Group - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMG Consultants - Indonesia
- AsiaOL BioFuels Corp., Philippines
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