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