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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, 25 November 20
CHINA KICKS AN OWN GOAL WITH AUSTRALIAN COAL - FORBES
China’s annoyance at Australia’s hardline stance on political interference and demands for an independent inquiry into the root cause o ...
Wednesday, 25 November 20
MINISTER - INDONESIA JAN-OCT COAL OUTPUT AT 459 MILLION TONNES - REUTERS
Indonesia coal output in the January to October period was 459 million tonnes, the country’s energy minister told parliament on Monday.
& ...
Wednesday, 25 November 20
INDIA: MORE STEPS NEEDED TO MAKE COMMERCIAL COAL MINING ATTRACTIVE TO GLOBAL PLAYERS - LIVEMINT
India concluded its first commercial coal mine auctions earlier this month. A total of 19 coal mines spread across Madhya Pradesh, Jharkhand, Odish ...
Wednesday, 25 November 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP 0.38 PCT - XINHUA
China Taiyuan coal transaction price index stood at 129.21 points Monday, up 0.38 percent week on week.
The index, released by China ...
Wednesday, 25 November 20
MARKET INSIGHT - INTERMODAL
Over 90% of the world’s goods are transported by sea. LPG is a clean, energy efficient and portable fuel that is being marketed at an afforda ...
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- Australian Coal Association
- Vijayanagar Sugar Pvt Ltd - India
- Interocean Group of Companies - India
- Toyota Tsusho Corporation, Japan
- Kideco Jaya Agung - Indonesia
- Electricity Generating Authority of Thailand
- LBH Netherlands Bv - Netherlands
- Gujarat Mineral Development Corp Ltd - India
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- Globalindo Alam Lestari - Indonesia
- Xindia Steels Limited - India
- Bukit Makmur.PT - Indonesia
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- Petron Corporation, Philippines
- India Bulls Power Limited - India
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- Planning Commission, India
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- Parliament of New Zealand
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- Pipit Mutiara Jaya. PT, Indonesia
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- Orica Mining Services - Indonesia
- Anglo American - United Kingdom
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- ICICI Bank Limited - India
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- Ceylon Electricity Board - Sri Lanka
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- TeaM Sual Corporation - Philippines
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Energy - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Deloitte Consulting - India
- Goldman Sachs - Singapore
- PowerSource Philippines DevCo
- Thiess Contractors Indonesia
- GAC Shipping (India) Pvt Ltd
- Wilmar Investment Holdings
- Billiton Holdings Pty Ltd - Australia
- Medco Energi Mining Internasional
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- Grasim Industreis Ltd - India
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- Riau Bara Harum - Indonesia
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- Africa Commodities Group - South Africa
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- PNOC Exploration Corporation - Philippines
- Attock Cement Pakistan Limited
- Siam City Cement PLC, Thailand
- Renaissance Capital - South Africa
- Sree Jayajothi Cements Limited - India
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- The University of Queensland
- Trasteel International SA, Italy
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Finance - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Ministry of Transport, Egypt
- Cement Manufacturers Association - India
- International Coal Ventures Pvt Ltd - India
- Malabar Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- Wood Mackenzie - Singapore
- PTC India Limited - India
- Ministry of Mines - Canada
- Metalloyd Limited - United Kingdom
- Thai Mozambique Logistica
- Directorate General of MIneral and Coal - Indonesia
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- Timah Investasi Mineral - Indoneisa
- IEA Clean Coal Centre - UK
- Kepco SPC Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Eastern Coal Council - USA
- Global Coal Blending Company Limited - Australia
- Parry Sugars Refinery, India
- VISA Power Limited - India
- Sical Logistics Limited - India
- Dalmia Cement Bharat India
- Kaltim Prima Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Borneo Indobara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Global Business Power Corporation, Philippines
- Larsen & Toubro Limited - India
- MS Steel International - UAE
- Alfred C Toepfer International GmbH - Germany
- Georgia Ports Authority, United States
- Bharathi Cement Corporation - India
- Directorate Of Revenue Intelligence - India
- Rio Tinto Coal - Australia
- Miang Besar Coal Terminal - Indonesia
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- Tata Chemicals Ltd - India
- Economic Council, Georgia
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- Meralco Power Generation, Philippines
- Salva Resources Pvt Ltd - India
- Carbofer General Trading SA - India
- Intertek Mineral Services - Indonesia
- Energy Link Ltd, New Zealand
- Indonesian Coal Mining Association
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- Price Waterhouse Coopers - Russia
- Jaiprakash Power Ventures ltd
- Videocon Industries ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- White Energy Company Limited
- Australian Commodity Traders Exchange
- Meenaskhi Energy Private Limited - India
- McConnell Dowell - Australia
- Bhoruka Overseas - Indonesia
- Mjunction Services Limited - India
- Manunggal Multi Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Makarim & Taira - Indonesia
- Edison Trading Spa - Italy
- Kapuas Tunggal Persada - Indonesia
- SMG Consultants - Indonesia
- Essar Steel Hazira Ltd - India
- Mercator Lines Limited - India
- SN Aboitiz Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Mintek Dendrill Indonesia
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- Marubeni Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Madhucon Powers Ltd - India
- Coastal Gujarat Power Limited - India
- Indika Energy - Indonesia
- Sojitz Corporation - Japan
- Kobexindo Tractors - Indoneisa
- Indian Energy Exchange, India
- Asmin Koalindo Tuhup - Indonesia
- Minerals Council of Australia
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- The Treasury - Australian Government
- Bhushan Steel Limited - India
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- Standard Chartered Bank - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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- Antam Resourcindo - Indonesia
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- ASAPP Information Group - India
- Singapore Mercantile Exchange
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