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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, 16 December 20
INDONESIAN COAL RECOVERING - FITCH
Commenting on Indonesian coal, Fitch Ratings, the Indonesian 4,200 kcal index has begun to recover, improving to over USD 29 in November compared t ...
Tuesday, 15 December 20
NEWCASTLE PRICES RECOVER - FITCH
Prices for the benchmark Newcastle 6,000 kcal/kg grade coal have rebounded to over USD 70/tonne since late November as major Asian economies ease l ...
Tuesday, 15 December 20
APAC COAL PRICES REBOUND ON IMPROVED DEMAND AND SUPPLY CUTS - FITCH RATINGS
Prices for the benchmark Newcastle 6,000kcal/kg grade coal have rebounded to over USD70/tonne since late November as major Asian economies ease loc ...
Tuesday, 15 December 20
CHINA EXTENDS FULL OPEN GESTURE TO IMPORTED COAL EXCEPT FOR AUSTRALIA - GLOBAL TIMES
Domestic, overseas suppliers will take up share with easier clearance
China's top economic planner on Saturday gave approval to ...
Monday, 14 December 20
PHILIPPINE BANK RCBC TO STOP LENDING FOR NEW COAL-FIRED POWER PROJECTS - MANILA BULLETIN
Yuchengco-led Rizal Commercial Banking Corporation (RCBC) has forthrightly declared that it will no longer extend financing to new coal-fired power ...
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- Chettinad Cement Corporation Ltd - India
- Straits Asia Resources Limited - Singapore
- Jindal Steel & Power Ltd - India
- Videocon Industries ltd - India
- Indonesian Coal Mining Association
- GMR Energy Limited - India
- Chamber of Mines of South Africa
- European Bulk Services B.V. - Netherlands
- Toyota Tsusho Corporation, Japan
- Intertek Mineral Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Gujarat Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- Xindia Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Singapore Mercantile Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Bhatia International Limited - India
- Renaissance Capital - South Africa
- Kepco SPC Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Dalmia Cement Bharat India
- CIMB Investment Bank - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Makarim & Taira - Indonesia
- Siam City Cement PLC, Thailand
- Lanco Infratech Ltd - India
- Interocean Group of Companies - India
- Karaikal Port Pvt Ltd - India
- Ministry of Transport, Egypt
- Mercator Lines Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Kumho Petrochemical, South Korea
- Directorate Of Revenue Intelligence - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- White Energy Company Limited
- Tata Chemicals Ltd - India
- Energy Link Ltd, New Zealand
- India Bulls Power Limited - India
- South Luzon Thermal Energy Corporation
- GN Power Mariveles Coal Plant, Philippines
- Sakthi Sugars Limited - India
- Semirara Mining and Power Corporation, Philippines
- Deloitte Consulting - India
- Iligan Light & Power Inc, Philippines
- Parry Sugars Refinery, India
- Ministry of Finance - Indonesia
- Sarangani Energy Corporation, Philippines
- Bhushan Steel Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Agrawal Coal Company - India
- Standard Chartered Bank - UAE
- International Coal Ventures Pvt Ltd - India
- Anglo American - United Kingdom
- Marubeni Corporation - India
- Africa Commodities Group - South Africa
- Georgia Ports Authority, United States
- Medco Energi Mining Internasional
- Coastal Gujarat Power Limited - India
- PNOC Exploration Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Attock Cement Pakistan Limited
- Kideco Jaya Agung - Indonesia
- Bulk Trading Sa - Switzerland
- Simpson Spence & Young - Indonesia
- Altura Mining Limited, Indonesia
- Oldendorff Carriers - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Uttam Galva Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- Banpu Public Company Limited - Thailand
- Indo Tambangraya Megah - Indonesia
- Barasentosa Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Economic Council, Georgia
- Energy Development Corp, Philippines
- Coalindo Energy - Indonesia
- Vedanta Resources Plc - India
- Mjunction Services Limited - India
- ASAPP Information Group - India
- Sinarmas Energy and Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Bangladesh Power Developement Board
- Antam Resourcindo - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bharathi Cement Corporation - India
- Meenaskhi Energy Private Limited - India
- LBH Netherlands Bv - Netherlands
- CNBM International Corporation - China
- Trasteel International SA, Italy
- Krishnapatnam Port Company Ltd. - India
- Electricity Generating Authority of Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The State Trading Corporation of India Ltd
- Mintek Dendrill Indonesia
- Global Coal Blending Company Limited - Australia
- Neyveli Lignite Corporation Ltd, - India
- Sindya Power Generating Company Private Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Ambuja Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Baramulti Group, Indonesia
- Wood Mackenzie - Singapore
- Posco Energy - South Korea
- Rio Tinto Coal - Australia
- Essar Steel Hazira Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- MS Steel International - UAE
- ICICI Bank Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Cement Manufacturers Association - India
- Orica Australia Pty. Ltd.
- TeaM Sual Corporation - Philippines
- Global Business Power Corporation, Philippines
- Tamil Nadu electricity Board
- Indian Energy Exchange, India
- Binh Thuan Hamico - Vietnam
- Borneo Indobara - Indonesia
- Thiess Contractors Indonesia
- New Zealand Coal & Carbon
- Parliament of New Zealand
- Central Java Power - Indonesia
- The Treasury - Australian Government
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Minerals Council of Australia
- Meralco Power Generation, Philippines
- Commonwealth Bank - Australia
- Pendopo Energi Batubara - Indonesia
- Latin American Coal - Colombia
- PetroVietnam Power Coal Import and Supply Company
- Global Green Power PLC Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- IEA Clean Coal Centre - UK
- Thai Mozambique Logistica
- Edison Trading Spa - Italy
- Globalindo Alam Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- GVK Power & Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMC Global Power, Philippines
- Goldman Sachs - Singapore
- Kaltim Prima Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- Savvy Resources Ltd - HongKong
- Kalimantan Lumbung Energi - Indonesia
- Indian Oil Corporation Limited
- Salva Resources Pvt Ltd - India
- VISA Power Limited - India
- Madhucon Powers Ltd - India
- Central Electricity Authority - India
- Siam City Cement - Thailand
- Malabar Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Aditya Birla Group - India
- Romanian Commodities Exchange
- Australian Coal Association
- Bayan Resources Tbk. - Indonesia
- Riau Bara Harum - Indonesia
- Larsen & Toubro Limited - India
- Samtan Co., Ltd - South Korea
- Vizag Seaport Private Limited - India
- Carbofer General Trading SA - India
- Maharashtra Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Port Waratah Coal Services - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Mines - Canada
- Cigading International Bulk Terminal - Indonesia
- Heidelberg Cement - Germany
- McConnell Dowell - Australia
- Grasim Industreis Ltd - India
- Independent Power Producers Association of India
- Indogreen Group - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Australian Commodity Traders Exchange
- Electricity Authority, New Zealand
- Sojitz Corporation - Japan
- Eastern Energy - Thailand
- Wilmar Investment Holdings
- PowerSource Philippines DevCo
- Jaiprakash Power Ventures ltd
- Eastern Coal Council - USA
- Mercuria Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Indika Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Pipit Mutiara Jaya. PT, Indonesia
- Sical Logistics Limited - India
- Manunggal Multi Energi - Indonesia
- The University of Queensland
- Power Finance Corporation Ltd., India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coal and Oil Company - UAE
- Planning Commission, India
- Aboitiz Power Corporation - Philippines
- Merrill Lynch Commodities Europe
- London Commodity Brokers - England
- Petron Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- PTC India Limited - India
- SMG Consultants - Indonesia
- Star Paper Mills Limited - India
- Bukit Baiduri Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Orica Mining Services - Indonesia
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