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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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Saturday, 06 March 21
AUSTRALIAN COAL: SOME WEAKNESS COULD MATERIALIZE AFTER THE WINTER - ING
Newcastle coal prices remain well supported for now, however as we move out of the winter months we would expect prices to come under pressure. Mea ...
Saturday, 06 March 21
ASIA SEABORNE COAL PRICES START TO RETREAT, CHINA-AUSTRALIA DISPUTE LINGERS - REUTERS
There are signs that the price and demand surge for coal during the recent colder-than-expected winter across North Asia is starting to ease, even ...
Thursday, 04 March 21
HEAD OF JBIC SAYS THE JAPANESE BANK WILL NOT FUND NEW COAL PLANT DEVELOPMENT - NHK NEWS
The governor of the Japan Bank for International Cooperation has said that the government-owned financial institution will stop funding new coal-fi ...
Wednesday, 03 March 21
MARKET INSIGHT - INTERMODAL
Following the recent rally to multi year highs of metal-based commodities, amid an unprecedented global economic stimulus, discussions of an emergi ...
Saturday, 27 February 21
CHINA'S BENCHMARK POWER COAL PRICE EDGES DOWN - XINHUA
China’s benchmark power coal price dropped slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge ...
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- Medco Energi Mining Internasional
- Energy Link Ltd, New Zealand
- The Treasury - Australian Government
- Bharathi Cement Corporation - India
- Ambuja Cements Ltd - India
- Orica Mining Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Mintek Dendrill Indonesia
- Marubeni Corporation - India
- Miang Besar Coal Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- Vedanta Resources Plc - India
- Jindal Steel & Power Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Australian Coal Association
- GMR Energy Limited - India
- Port Waratah Coal Services - Australia
- Chettinad Cement Corporation Ltd - India
- Electricity Authority, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- CNBM International Corporation - China
- Ministry of Transport, Egypt
- Eastern Coal Council - USA
- Malabar Cements Ltd - India
- ASAPP Information Group - India
- Global Business Power Corporation, Philippines
- Indonesian Coal Mining Association
- Vijayanagar Sugar Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- South Luzon Thermal Energy Corporation
- SN Aboitiz Power Inc, Philippines
- Singapore Mercantile Exchange
- Renaissance Capital - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Essar Steel Hazira Ltd - India
- Minerals Council of Australia
- Bukit Makmur.PT - Indonesia
- Parry Sugars Refinery, India
- Toyota Tsusho Corporation, Japan
- Mercator Lines Limited - India
- Jaiprakash Power Ventures ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Australia Pty. Ltd.
- Meralco Power Generation, Philippines
- Thiess Contractors Indonesia
- Global Coal Blending Company Limited - Australia
- International Coal Ventures Pvt Ltd - India
- Cement Manufacturers Association - India
- Alfred C Toepfer International GmbH - Germany
- Barasentosa Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Billiton Holdings Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Cigading International Bulk Terminal - Indonesia
- India Bulls Power Limited - India
- Globalindo Alam Lestari - Indonesia
- McConnell Dowell - Australia
- Semirara Mining and Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Riau Bara Harum - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Sojitz Corporation - Japan
- Kobexindo Tractors - Indoneisa
- Madhucon Powers Ltd - India
- Coal and Oil Company - UAE
- Bayan Resources Tbk. - Indonesia
- Goldman Sachs - Singapore
- The University of Queensland
- Heidelberg Cement - Germany
- Karaikal Port Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Central Java Power - Indonesia
- Kepco SPC Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Altura Mining Limited, Indonesia
- Kumho Petrochemical, South Korea
- Trasteel International SA, Italy
- Directorate Of Revenue Intelligence - India
- Attock Cement Pakistan Limited
- Intertek Mineral Services - Indonesia
- Bangladesh Power Developement Board
- Bhushan Steel Limited - India
- Samtan Co., Ltd - South Korea
- London Commodity Brokers - England
- Baramulti Group, Indonesia
- Parliament of New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- GAC Shipping (India) Pvt Ltd
- Eastern Energy - Thailand
- Economic Council, Georgia
- Simpson Spence & Young - Indonesia
- SMC Global Power, Philippines
- Kartika Selabumi Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kideco Jaya Agung - Indonesia
- PowerSource Philippines DevCo
- Indo Tambangraya Megah - Indonesia
- Aboitiz Power Corporation - Philippines
- Romanian Commodities Exchange
- European Bulk Services B.V. - Netherlands
- Indian Oil Corporation Limited
- Petron Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Africa Commodities Group - South Africa
- Kaltim Prima Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Semirara Mining Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Straits Asia Resources Limited - Singapore
- Tata Chemicals Ltd - India
- LBH Netherlands Bv - Netherlands
- Aditya Birla Group - India
- SMG Consultants - Indonesia
- Indian Energy Exchange, India
- Formosa Plastics Group - Taiwan
- Interocean Group of Companies - India
- Latin American Coal - Colombia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Antam Resourcindo - Indonesia
- Coastal Gujarat Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- New Zealand Coal & Carbon
- VISA Power Limited - India
- Mjunction Services Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Videocon Industries ltd - India
- OPG Power Generation Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Price Waterhouse Coopers - Russia
- PTC India Limited - India
- Ind-Barath Power Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Tamil Nadu electricity Board
- Siam City Cement - Thailand
- Edison Trading Spa - Italy
- Rashtriya Ispat Nigam Limited - India
- Maheswari Brothers Coal Limited - India
- Holcim Trading Pte Ltd - Singapore
- Timah Investasi Mineral - Indoneisa
- Independent Power Producers Association of India
- Savvy Resources Ltd - HongKong
- Star Paper Mills Limited - India
- Coalindo Energy - Indonesia
- Ministry of Finance - Indonesia
- Georgia Ports Authority, United States
- Indika Energy - Indonesia
- Lanco Infratech Ltd - India
- Krishnapatnam Port Company Ltd. - India
- GVK Power & Infra Limited - India
- White Energy Company Limited
- Xindia Steels Limited - India
- Dalmia Cement Bharat India
- Carbofer General Trading SA - India
- Ministry of Mines - Canada
- Therma Luzon, Inc, Philippines
- Bhoruka Overseas - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bhatia International Limited - India
- Leighton Contractors Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement PLC, Thailand
- GN Power Mariveles Coal Plant, Philippines
- The State Trading Corporation of India Ltd
- Rio Tinto Coal - Australia
- San Jose City I Power Corp, Philippines
- MS Steel International - UAE
- Sical Logistics Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Indogreen Group - Indonesia
- Oldendorff Carriers - Singapore
- Energy Development Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wilmar Investment Holdings
- Power Finance Corporation Ltd., India
- Australian Commodity Traders Exchange
- Planning Commission, India
- Sindya Power Generating Company Private Ltd
- Anglo American - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Agrawal Coal Company - India
- ICICI Bank Limited - India
- Larsen & Toubro Limited - India
- CIMB Investment Bank - Malaysia
- Standard Chartered Bank - UAE
- Mercuria Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Commonwealth Bank - Australia
- Borneo Indobara - Indonesia
- IEA Clean Coal Centre - UK
- Uttam Galva Steels Limited - India
- Salva Resources Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Thai Mozambique Logistica
- Merrill Lynch Commodities Europe
- Directorate General of MIneral and Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- Deloitte Consulting - India
- Manunggal Multi Energi - Indonesia
- Vizag Seaport Private Limited - India
- Posco Energy - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Electricity Authority - India
- Sakthi Sugars Limited - India
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