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Wednesday, 28 April 21
MARKET INSIGHT - INTERMODAL
 Despite the current challenges as a result of the global pandemic, 2021 is turning out to be a landmark year for the iron ore market with spot prices for the steel making commodity last week surpassing their February 2011 high of $US188 per tonne. Better Chinese steel prices have also allowed iron ore prices to float higher recently and they appear well supported by rising steel production in the Asian nation. Market experts support that prices could keep climbing and continue to believe that iron ore prices will stay elevated as long as steel mill margins in the world’s largest consumer, China, remain high. From a maritime perspective for seaborne transportation demand, we are overall very glad to see such strong fundamentals leading and driving these important markets, in what appears to be a broad positive sentiment for a key ingredient carried predominantly by Capesizes and very large ore carriers. The Baltic Exchange’s main sea freight index that tracks rates for ships carrying dry bulk commodities extended gains, rising to its highest since late 2010 on Thursday as Capesize rates jumped on strong Chinese iron ore demand. The Capesize market last week reached rate levels equivalent of last year’s highs. The 5TC rose $6,242 to settle at the end of the week at $34,762.
Looking further down the supply chain and at the steel production level, Chinese steel plants are also very active and currently receiving around $US780 per tonne for their steel reinforcing bar product which is used in construction projects for everything from bridges and buildings to infrastructure. This price for the end product, represents a 12-year high and low inventory levels in China are in general adding to the upward pressure on prices for steel products including rebar and hot rolled coil. Prices of rebar and hot-rolled coil in China, the world’s top steel producer, also continued the momentum and rose to record highs last week, underpinned by strong demand.
In the meantime we did notice reports of Beijing taking drastic actions to curb steel production to tackle air pollution around its industrial centres, which raised certain concerns in the market on what the actual effect might be ultimately. However, at least at the moment these actions seem quite unrealistic and perhaps linked to short-term pollution related issues. Furthermore there are headlines regarding China capping its steel production due to the high price of iron ore, but again it is only reasonable and evident that these steel mills are going to continue to produce a lot of steel if they can still sell it and generate good profits on it even though prices of the raw iron ore ingredient are high at around $US180 per tonne. This is another testament that the market dynamics for steel in China is pretty robust at the moment. A lot of the country’s steel production finds its way into the domestic local market where it is used in heavy construction and development for new cities and transport infrastructure that links these together. As a matter of fact, China’s government has set ambitious targets in its latest five-year plan, including a pledge to build 160 new airports and 32,000km of high-speed railway by 2035.
By Christopher Whitty,
Director, Towage & Marine Port Services
Compiled by:
Intermodal Research & Valuations
Analysts:
Ms Eva Tzima
Mr.George Panagopoulos
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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Sunday, 18 April 21
WORLDSTEEL RAISES 2021 STEEL DEMAND GROWTH FORECAST TO 5.8% - WORLDSTEEL
The World Steel Association (worldsteel) today released its Short Range Outlook (SRO) for 2021 and 2022. worldsteel forecasts that steel demand wil ...
Sunday, 18 April 21
CHINA'S Q1 COAL OUTPUT RISES 16% ON STRONG DEMAND FOR WINTER HEATING - REUTERS
China’s coal output rose 16% in the first quarter from the same period last year, bolstered by strong demand for winter heating and robust in ...
Wednesday, 14 April 21
INDIA HAS A RECORD LEVEL OF STOCKPILED COAL DAMPENING NEED FOR NEW DOMESTIC MINES - IEEFA
Proposed coal mining expansions at odds with excess supply
India has stockpiled a record 132 million tonnes of coal – enough t ...
Wednesday, 14 April 21
BANGLADESH NEEDS A RENEWABLES FOCUS, NOT A SWITCH FROM 'COAL TO GAS' - IEEFA
Renewables are cheaper and more sustainable than gas imports, and can provide better energy security in developing nations
The emerg ...
Wednesday, 14 April 21
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX DOWN 1.10 PCT - XINHUA
China Taiyuan coal transaction price index stood at 138.05 points Monday, down 1.10 percent week on week.
The index, released by Chi ...
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- Indogreen Group - Indonesia
- GVK Power & Infra Limited - India
- Mercator Lines Limited - India
- The State Trading Corporation of India Ltd
- GAC Shipping (India) Pvt Ltd
- Cigading International Bulk Terminal - Indonesia
- Coalindo Energy - Indonesia
- Aditya Birla Group - India
- Petron Corporation, Philippines
- Cement Manufacturers Association - India
- Mercuria Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Commonwealth Bank - Australia
- Ministry of Mines - Canada
- Tata Chemicals Ltd - India
- TeaM Sual Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Australian Coal Association
- Iligan Light & Power Inc, Philippines
- Makarim & Taira - Indonesia
- Globalindo Alam Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- India Bulls Power Limited - India
- Manunggal Multi Energi - Indonesia
- Orica Mining Services - Indonesia
- Salva Resources Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- The Treasury - Australian Government
- White Energy Company Limited
- Asmin Koalindo Tuhup - Indonesia
- Savvy Resources Ltd - HongKong
- PNOC Exploration Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Carbofer General Trading SA - India
- Ceylon Electricity Board - Sri Lanka
- Indian Oil Corporation Limited
- SMC Global Power, Philippines
- Kaltim Prima Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Merrill Lynch Commodities Europe
- Directorate General of MIneral and Coal - Indonesia
- Orica Australia Pty. Ltd.
- Jaiprakash Power Ventures ltd
- Ambuja Cements Ltd - India
- Renaissance Capital - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Sical Logistics Limited - India
- Sindya Power Generating Company Private Ltd
- Indo Tambangraya Megah - Indonesia
- European Bulk Services B.V. - Netherlands
- Economic Council, Georgia
- Jindal Steel & Power Ltd - India
- Malabar Cements Ltd - India
- Electricity Authority, New Zealand
- Thai Mozambique Logistica
- Banpu Public Company Limited - Thailand
- Latin American Coal - Colombia
- Sojitz Corporation - Japan
- Alfred C Toepfer International GmbH - Germany
- Larsen & Toubro Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Videocon Industries ltd - India
- CNBM International Corporation - China
- Bharathi Cement Corporation - India
- Metalloyd Limited - United Kingdom
- ASAPP Information Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Borneo Indobara - Indonesia
- Planning Commission, India
- Baramulti Group, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Wood Mackenzie - Singapore
- PTC India Limited - India
- Agrawal Coal Company - India
- Medco Energi Mining Internasional
- Meenaskhi Energy Private Limited - India
- Minerals Council of Australia
- Coal and Oil Company - UAE
- Singapore Mercantile Exchange
- Uttam Galva Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Bhoruka Overseas - Indonesia
- Wilmar Investment Holdings
- Gujarat Sidhee Cement - India
- PetroVietnam Power Coal Import and Supply Company
- International Coal Ventures Pvt Ltd - India
- Interocean Group of Companies - India
- Bhushan Steel Limited - India
- Semirara Mining and Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Price Waterhouse Coopers - Russia
- Power Finance Corporation Ltd., India
- Kobexindo Tractors - Indoneisa
- Chamber of Mines of South Africa
- Romanian Commodities Exchange
- Goldman Sachs - Singapore
- Australian Commodity Traders Exchange
- Grasim Industreis Ltd - India
- Edison Trading Spa - Italy
- Georgia Ports Authority, United States
- Bhatia International Limited - India
- Siam City Cement PLC, Thailand
- Binh Thuan Hamico - Vietnam
- Ministry of Finance - Indonesia
- Indika Energy - Indonesia
- Oldendorff Carriers - Singapore
- Billiton Holdings Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- Electricity Generating Authority of Thailand
- Africa Commodities Group - South Africa
- Vizag Seaport Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Coastal Gujarat Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- OPG Power Generation Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Timah Investasi Mineral - Indoneisa
- Barasentosa Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Port Waratah Coal Services - Australia
- Formosa Plastics Group - Taiwan
- Mjunction Services Limited - India
- McConnell Dowell - Australia
- AsiaOL BioFuels Corp., Philippines
- Madhucon Powers Ltd - India
- Central Electricity Authority - India
- Dalmia Cement Bharat India
- Global Coal Blending Company Limited - Australia
- New Zealand Coal & Carbon
- Pendopo Energi Batubara - Indonesia
- Altura Mining Limited, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Samtan Co., Ltd - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Riau Bara Harum - Indonesia
- Indian Energy Exchange, India
- Bulk Trading Sa - Switzerland
- SN Aboitiz Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Xindia Steels Limited - India
- Simpson Spence & Young - Indonesia
- Central Java Power - Indonesia
- Global Business Power Corporation, Philippines
- Anglo American - United Kingdom
- Mintek Dendrill Indonesia
- PowerSource Philippines DevCo
- Standard Chartered Bank - UAE
- Krishnapatnam Port Company Ltd. - India
- The University of Queensland
- Rio Tinto Coal - Australia
- Bangladesh Power Developement Board
- Attock Cement Pakistan Limited
- CIMB Investment Bank - Malaysia
- Semirara Mining Corp, Philippines
- Posco Energy - South Korea
- Sakthi Sugars Limited - India
- Lanco Infratech Ltd - India
- Siam City Cement - Thailand
- Ind-Barath Power Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Ministry of Transport, Egypt
- Toyota Tsusho Corporation, Japan
- Heidelberg Cement - Germany
- Sinarmas Energy and Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Essar Steel Hazira Ltd - India
- Independent Power Producers Association of India
- Sarangani Energy Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Star Paper Mills Limited - India
- Indonesian Coal Mining Association
- Energy Development Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Eastern Energy - Thailand
- Vedanta Resources Plc - India
- SMG Consultants - Indonesia
- MS Steel International - UAE
- VISA Power Limited - India
- ICICI Bank Limited - India
- Directorate Of Revenue Intelligence - India
- Marubeni Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- IEA Clean Coal Centre - UK
- GMR Energy Limited - India
- Parry Sugars Refinery, India
- Trasteel International SA, Italy
- London Commodity Brokers - England
- TNB Fuel Sdn Bhd - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Thiess Contractors Indonesia
- Bayan Resources Tbk. - Indonesia
- Therma Luzon, Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Eastern Coal Council - USA
- Holcim Trading Pte Ltd - Singapore
- Tamil Nadu electricity Board
- Deloitte Consulting - India
- Parliament of New Zealand
- Kideco Jaya Agung - Indonesia
- Kumho Petrochemical, South Korea
- Straits Asia Resources Limited - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Energy Link Ltd, New Zealand
- Bukit Makmur.PT - Indonesia
- Meralco Power Generation, Philippines
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