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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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- Tamil Nadu electricity Board
- Mercator Lines Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Bangladesh Power Developement Board
- Madhucon Powers Ltd - India
- Sarangani Energy Corporation, Philippines
- Mintek Dendrill Indonesia
- Bukit Makmur.PT - Indonesia
- Global Business Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Gujarat Sidhee Cement - India
- Jaiprakash Power Ventures ltd
- India Bulls Power Limited - India
- Meenaskhi Energy Private Limited - India
- PNOC Exploration Corporation - Philippines
- Tata Chemicals Ltd - India
- Mjunction Services Limited - India
- Romanian Commodities Exchange
- Indogreen Group - Indonesia
- Edison Trading Spa - Italy
- Kartika Selabumi Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- The University of Queensland
- Kideco Jaya Agung - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Eastern Coal Council - USA
- Posco Energy - South Korea
- CNBM International Corporation - China
- Central Java Power - Indonesia
- CIMB Investment Bank - Malaysia
- Interocean Group of Companies - India
- Samtan Co., Ltd - South Korea
- Rashtriya Ispat Nigam Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Pendopo Energi Batubara - Indonesia
- Vizag Seaport Private Limited - India
- Toyota Tsusho Corporation, Japan
- Goldman Sachs - Singapore
- Wilmar Investment Holdings
- Independent Power Producers Association of India
- The State Trading Corporation of India Ltd
- Oldendorff Carriers - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Carbofer General Trading SA - India
- Krishnapatnam Port Company Ltd. - India
- McConnell Dowell - Australia
- Parliament of New Zealand
- OPG Power Generation Pvt Ltd - India
- Coalindo Energy - Indonesia
- London Commodity Brokers - England
- Mercuria Energy - Indonesia
- Heidelberg Cement - Germany
- Simpson Spence & Young - Indonesia
- PowerSource Philippines DevCo
- Leighton Contractors Pty Ltd - Australia
- Energy Development Corp, Philippines
- Barasentosa Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Africa Commodities Group - South Africa
- Price Waterhouse Coopers - Russia
- Makarim & Taira - Indonesia
- Jindal Steel & Power Ltd - India
- Marubeni Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- PTC India Limited - India
- Agrawal Coal Company - India
- Australian Commodity Traders Exchange
- Iligan Light & Power Inc, Philippines
- VISA Power Limited - India
- Sree Jayajothi Cements Limited - India
- Grasim Industreis Ltd - India
- Xindia Steels Limited - India
- Salva Resources Pvt Ltd - India
- SMC Global Power, Philippines
- Aditya Birla Group - India
- GMR Energy Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Star Paper Mills Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bulk Trading Sa - Switzerland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GVK Power & Infra Limited - India
- Meralco Power Generation, Philippines
- Georgia Ports Authority, United States
- Borneo Indobara - Indonesia
- Australian Coal Association
- Coastal Gujarat Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Metalloyd Limited - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Global Coal Blending Company Limited - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rio Tinto Coal - Australia
- Holcim Trading Pte Ltd - Singapore
- Kohat Cement Company Ltd. - Pakistan
- ICICI Bank Limited - India
- IHS Mccloskey Coal Group - USA
- Sical Logistics Limited - India
- Eastern Energy - Thailand
- Trasteel International SA, Italy
- Bharathi Cement Corporation - India
- Sojitz Corporation - Japan
- Minerals Council of Australia
- Karbindo Abesyapradhi - Indoneisa
- Singapore Mercantile Exchange
- Antam Resourcindo - Indonesia
- Maheswari Brothers Coal Limited - India
- San Jose City I Power Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- GAC Shipping (India) Pvt Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Chamber of Mines of South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Billiton Holdings Pty Ltd - Australia
- Latin American Coal - Colombia
- Siam City Cement PLC, Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhushan Steel Limited - India
- Cigading International Bulk Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Energy Link Ltd, New Zealand
- Bayan Resources Tbk. - Indonesia
- Ministry of Mines - Canada
- Anglo American - United Kingdom
- White Energy Company Limited
- Parry Sugars Refinery, India
- Wood Mackenzie - Singapore
- Uttam Galva Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Dalmia Cement Bharat India
- Bhatia International Limited - India
- Deloitte Consulting - India
- LBH Netherlands Bv - Netherlands
- Port Waratah Coal Services - Australia
- Indonesian Coal Mining Association
- Semirara Mining Corp, Philippines
- Siam City Cement - Thailand
- Electricity Authority, New Zealand
- International Coal Ventures Pvt Ltd - India
- Indika Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- Larsen & Toubro Limited - India
- Binh Thuan Hamico - Vietnam
- Planning Commission, India
- IEA Clean Coal Centre - UK
- Orica Mining Services - Indonesia
- Sakthi Sugars Limited - India
- Sindya Power Generating Company Private Ltd
- The Treasury - Australian Government
- Altura Mining Limited, Indonesia
- Riau Bara Harum - Indonesia
- Global Green Power PLC Corporation, Philippines
- Power Finance Corporation Ltd., India
- Cement Manufacturers Association - India
- Bahari Cakrawala Sebuku - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- Ministry of Transport, Egypt
- Renaissance Capital - South Africa
- Miang Besar Coal Terminal - Indonesia
- Commonwealth Bank - Australia
- Aboitiz Power Corporation - Philippines
- Ambuja Cements Ltd - India
- Petron Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Videocon Industries ltd - India
- SMG Consultants - Indonesia
- Therma Luzon, Inc, Philippines
- Intertek Mineral Services - Indonesia
- Kaltim Prima Coal - Indonesia
- Malabar Cements Ltd - India
- Indian Energy Exchange, India
- Ceylon Electricity Board - Sri Lanka
- Kapuas Tunggal Persada - Indonesia
- Bukit Baiduri Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Thiess Contractors Indonesia
- Electricity Generating Authority of Thailand
- Kepco SPC Power Corporation, Philippines
- Medco Energi Mining Internasional
- Coal and Oil Company - UAE
- Straits Asia Resources Limited - Singapore
- Banpu Public Company Limited - Thailand
- Baramulti Group, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bhoruka Overseas - Indonesia
- Thai Mozambique Logistica
- SN Aboitiz Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Indian Oil Corporation Limited
- Timah Investasi Mineral - Indoneisa
- Ministry of Finance - Indonesia
- Manunggal Multi Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- MS Steel International - UAE
- Attock Cement Pakistan Limited
- Vedanta Resources Plc - India
- Chettinad Cement Corporation Ltd - India
- ASAPP Information Group - India
- Directorate Of Revenue Intelligence - India
- Central Electricity Authority - India
- Standard Chartered Bank - UAE
- Economic Council, Georgia
- Globalindo Alam Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- South Luzon Thermal Energy Corporation
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