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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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Wednesday, 07 April 21
MARKET INSIGHT - INTERMODAL
Following the end of the catholic easter, during which the majority of shipping market participants were on holidays, it is interesting to note a f ...
Wednesday, 07 April 21
COAL USED TO GENERATE ELECTRIC POWER IN U.S. WILL INCREASE BY 13 PERCENT TO 495 MMST IN 2021 - EIA
EIA expects U.S. coal production to total 585 MMst in 2021, 46 MMst (9%) more than in 2020. In 2022, EIA expects coal production to grow by an addi ...
Wednesday, 31 March 21
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP 0.12 PCT - XINHUA
China Taiyuan coal transaction price index stood at 139.03 points Monday, up 0.12 percent week on week.
The index, released by China ...
Wednesday, 31 March 21
MARKET INSIGHT - INTERMODAL
Over the past week, the biggest story has been the blockage of the Suez Canal, as a result of the grounding of the container ship Ever Given. At th ...
Monday, 29 March 21
MOODY'S: OUTLOOK FOR GLOBAL METALS AND MINING INDUSTRY TURNS POSITIVE ON HIGHER EBITDA IN PANDEMIC'S WAKE
- Demand for steel, iron ore and copper will rise, while aluminum, nickel and zinc will remain in surplus
- EBITDA is expected to ...
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- International Coal Ventures Pvt Ltd - India
- Bangladesh Power Developement Board
- Australian Commodity Traders Exchange
- CNBM International Corporation - China
- Bahari Cakrawala Sebuku - Indonesia
- Planning Commission, India
- Salva Resources Pvt Ltd - India
- Aditya Birla Group - India
- Global Coal Blending Company Limited - Australia
- Medco Energi Mining Internasional
- San Jose City I Power Corp, Philippines
- Trasteel International SA, Italy
- Ministry of Mines - Canada
- Neyveli Lignite Corporation Ltd, - India
- Dalmia Cement Bharat India
- European Bulk Services B.V. - Netherlands
- Banpu Public Company Limited - Thailand
- Aboitiz Power Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- ASAPP Information Group - India
- Leighton Contractors Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Posco Energy - South Korea
- Parliament of New Zealand
- Binh Thuan Hamico - Vietnam
- GVK Power & Infra Limited - India
- Deloitte Consulting - India
- Parry Sugars Refinery, India
- Siam City Cement PLC, Thailand
- South Luzon Thermal Energy Corporation
- IEA Clean Coal Centre - UK
- Indo Tambangraya Megah - Indonesia
- Altura Mining Limited, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Tamil Nadu electricity Board
- Jorong Barutama Greston.PT - Indonesia
- Orica Mining Services - Indonesia
- Orica Australia Pty. Ltd.
- Bhoruka Overseas - Indonesia
- Wood Mackenzie - Singapore
- Bhushan Steel Limited - India
- Carbofer General Trading SA - India
- Simpson Spence & Young - Indonesia
- Singapore Mercantile Exchange
- Bukit Makmur.PT - Indonesia
- Interocean Group of Companies - India
- Gujarat Mineral Development Corp Ltd - India
- Coalindo Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Thiess Contractors Indonesia
- Star Paper Mills Limited - India
- The State Trading Corporation of India Ltd
- Malabar Cements Ltd - India
- Independent Power Producers Association of India
- LBH Netherlands Bv - Netherlands
- India Bulls Power Limited - India
- Vedanta Resources Plc - India
- Billiton Holdings Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- Bhatia International Limited - India
- Savvy Resources Ltd - HongKong
- New Zealand Coal & Carbon
- Therma Luzon, Inc, Philippines
- Merrill Lynch Commodities Europe
- SN Aboitiz Power Inc, Philippines
- VISA Power Limited - India
- Vizag Seaport Private Limited - India
- Sakthi Sugars Limited - India
- Bukit Baiduri Energy - Indonesia
- Oldendorff Carriers - Singapore
- Global Green Power PLC Corporation, Philippines
- Power Finance Corporation Ltd., India
- Mercuria Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Central Electricity Authority - India
- Latin American Coal - Colombia
- Manunggal Multi Energi - Indonesia
- Formosa Plastics Group - Taiwan
- IHS Mccloskey Coal Group - USA
- Wilmar Investment Holdings
- Kideco Jaya Agung - Indonesia
- Barasentosa Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Ceylon Electricity Board - Sri Lanka
- Indian Oil Corporation Limited
- Madhucon Powers Ltd - India
- Semirara Mining Corp, Philippines
- Mintek Dendrill Indonesia
- Central Java Power - Indonesia
- Iligan Light & Power Inc, Philippines
- Larsen & Toubro Limited - India
- Coal and Oil Company - UAE
- Thai Mozambique Logistica
- Bharathi Cement Corporation - India
- Karaikal Port Pvt Ltd - India
- Videocon Industries ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Chamber of Mines of South Africa
- SMG Consultants - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Eastern Energy - Thailand
- CIMB Investment Bank - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Directorate Of Revenue Intelligence - India
- Kartika Selabumi Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- Jindal Steel & Power Ltd - India
- Baramulti Group, Indonesia
- Mercator Lines Limited - India
- Cigading International Bulk Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Antam Resourcindo - Indonesia
- Indogreen Group - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- PTC India Limited - India
- Metalloyd Limited - United Kingdom
- Jaiprakash Power Ventures ltd
- Marubeni Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement - Thailand
- Kapuas Tunggal Persada - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Sical Logistics Limited - India
- Heidelberg Cement - Germany
- Eastern Coal Council - USA
- Grasim Industreis Ltd - India
- GAC Shipping (India) Pvt Ltd
- Port Waratah Coal Services - Australia
- Commonwealth Bank - Australia
- Minerals Council of Australia
- GN Power Mariveles Coal Plant, Philippines
- The Treasury - Australian Government
- The University of Queensland
- Lanco Infratech Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Sojitz Corporation - Japan
- Globalindo Alam Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Edison Trading Spa - Italy
- SMC Global Power, Philippines
- ICICI Bank Limited - India
- Attock Cement Pakistan Limited
- Ind-Barath Power Infra Limited - India
- Uttam Galva Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- Tata Chemicals Ltd - India
- Bayan Resources Tbk. - Indonesia
- TeaM Sual Corporation - Philippines
- Indonesian Coal Mining Association
- Makarim & Taira - Indonesia
- Economic Council, Georgia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Borneo Indobara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Agrawal Coal Company - India
- Petrochimia International Co. Ltd.- Taiwan
- Indian Energy Exchange, India
- McConnell Dowell - Australia
- Georgia Ports Authority, United States
- Sindya Power Generating Company Private Ltd
- Ambuja Cements Ltd - India
- Cement Manufacturers Association - India
- Kaltim Prima Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Petron Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Meralco Power Generation, Philippines
- Meenaskhi Energy Private Limited - India
- Energy Development Corp, Philippines
- Energy Link Ltd, New Zealand
- Rashtriya Ispat Nigam Limited - India
- Romanian Commodities Exchange
- Electricity Authority, New Zealand
- Renaissance Capital - South Africa
- MS Steel International - UAE
- Straits Asia Resources Limited - Singapore
- Sarangani Energy Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Standard Chartered Bank - UAE
- Ministry of Finance - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Price Waterhouse Coopers - Russia
- Gujarat Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- London Commodity Brokers - England
- Riau Bara Harum - Indonesia
- Xindia Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Goldman Sachs - Singapore
- Intertek Mineral Services - Indonesia
- Indika Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Sree Jayajothi Cements Limited - India
- PowerSource Philippines DevCo
- Toyota Tsusho Corporation, Japan
- Mjunction Services Limited - India
- Africa Commodities Group - South Africa
- White Energy Company Limited
- Australian Coal Association
- GMR Energy Limited - India
- Anglo American - United Kingdom
- Global Business Power Corporation, Philippines
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