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