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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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Friday, 15 October 21
GLOBAL STEEL DEMAND GROWTH DOWNGRADED FOR 2021 DUE TO CHINA - WORLD STEEL ASSOCIATION
The World Steel Association (worldsteel) today released an update of its Short Range Outlook (SRO) for 2021 and 2022. worldsteel forecasts that ste ...
Thursday, 14 October 21
SPIKING COAL PRICES: DON’T BLAME THE ENERGY TRANSITION - IEEFA
Volatility highlights urgency for renewables-based energy solutions
“Energy crisis.” The phrase evokes nearly-forgotten ...
Thursday, 14 October 21
EIA FORECASTS U.S. COAL PRODUCTION TOTALS 588 MMST IN 2021, UP 53 MMST YOY
U.S. coal production in EIA's forecasts totals 588 million short tons (MMst) in 2021, 53 MMst more than in 2020.
According ...
Wednesday, 13 October 21
COAL PRICES ARE ROARING BACK AMID A GLOBAL ENERGY CRUNCH - SYDNEY MORNING HERALD
Soaring coal prices have placed Australia’s mining and energy exports on track to reach a record $349 billion this year evenas the value of t ...
Wednesday, 13 October 21
CHINA ISN'T THE ONLY HUGE ASIAN ECONOMY WITH A COAL SHORTAGE NOW - CNBC
China is not the only Asian giant grappling with an energy crunch — India is also teetering on the edge of a power crisis.
Mos ...
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- Timah Investasi Mineral - Indoneisa
- Romanian Commodities Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Wilmar Investment Holdings
- Pendopo Energi Batubara - Indonesia
- Attock Cement Pakistan Limited
- New Zealand Coal & Carbon
- Simpson Spence & Young - Indonesia
- ASAPP Information Group - India
- Standard Chartered Bank - UAE
- Formosa Plastics Group - Taiwan
- IEA Clean Coal Centre - UK
- Kaltim Prima Coal - Indonesia
- Interocean Group of Companies - India
- Cigading International Bulk Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Manunggal Multi Energi - Indonesia
- Aditya Birla Group - India
- Latin American Coal - Colombia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Miang Besar Coal Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Gujarat Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- Electricity Generating Authority of Thailand
- Indian Oil Corporation Limited
- Semirara Mining Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Planning Commission, India
- Posco Energy - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Riau Bara Harum - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Indian Energy Exchange, India
- Sical Logistics Limited - India
- Jindal Steel & Power Ltd - India
- Vedanta Resources Plc - India
- Jorong Barutama Greston.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Makarim & Taira - Indonesia
- Global Business Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Merrill Lynch Commodities Europe
- The State Trading Corporation of India Ltd
- OPG Power Generation Pvt Ltd - India
- Madhucon Powers Ltd - India
- Sojitz Corporation - Japan
- Edison Trading Spa - Italy
- Bukit Asam (Persero) Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sakthi Sugars Limited - India
- Metalloyd Limited - United Kingdom
- Goldman Sachs - Singapore
- Barasentosa Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Thai Mozambique Logistica
- Indo Tambangraya Megah - Indonesia
- Samtan Co., Ltd - South Korea
- Krishnapatnam Port Company Ltd. - India
- Meenaskhi Energy Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Coastal Gujarat Power Limited - India
- Ind-Barath Power Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Mercator Lines Limited - India
- Salva Resources Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Altura Mining Limited, Indonesia
- Dalmia Cement Bharat India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Orica Mining Services - Indonesia
- The Treasury - Australian Government
- Alfred C Toepfer International GmbH - Germany
- Australian Coal Association
- TeaM Sual Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Anglo American - United Kingdom
- Bhushan Steel Limited - India
- Electricity Authority, New Zealand
- Lanco Infratech Ltd - India
- Chamber of Mines of South Africa
- ICICI Bank Limited - India
- Antam Resourcindo - Indonesia
- Meralco Power Generation, Philippines
- CNBM International Corporation - China
- Wood Mackenzie - Singapore
- Global Green Power PLC Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Petron Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Heidelberg Cement - Germany
- Sarangani Energy Corporation, Philippines
- Grasim Industreis Ltd - India
- VISA Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Renaissance Capital - South Africa
- Mjunction Services Limited - India
- Carbofer General Trading SA - India
- Bahari Cakrawala Sebuku - Indonesia
- Leighton Contractors Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- London Commodity Brokers - England
- Rio Tinto Coal - Australia
- GVK Power & Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Australian Commodity Traders Exchange
- Iligan Light & Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Marubeni Corporation - India
- IHS Mccloskey Coal Group - USA
- Eastern Energy - Thailand
- Larsen & Toubro Limited - India
- Borneo Indobara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- GN Power Mariveles Coal Plant, Philippines
- European Bulk Services B.V. - Netherlands
- Essar Steel Hazira Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Bhatia International Limited - India
- Kapuas Tunggal Persada - Indonesia
- Bangladesh Power Developement Board
- Star Paper Mills Limited - India
- Mercuria Energy - Indonesia
- McConnell Dowell - Australia
- LBH Netherlands Bv - Netherlands
- Chettinad Cement Corporation Ltd - India
- SMC Global Power, Philippines
- Bhoruka Overseas - Indonesia
- Jaiprakash Power Ventures ltd
- Intertek Mineral Services - Indonesia
- Kumho Petrochemical, South Korea
- Sindya Power Generating Company Private Ltd
- White Energy Company Limited
- Ceylon Electricity Board - Sri Lanka
- Ambuja Cements Ltd - India
- Central Electricity Authority - India
- Parliament of New Zealand
- Ministry of Finance - Indonesia
- San Jose City I Power Corp, Philippines
- SMG Consultants - Indonesia
- Indonesian Coal Mining Association
- MS Steel International - UAE
- Malabar Cements Ltd - India
- PowerSource Philippines DevCo
- Economic Council, Georgia
- Parry Sugars Refinery, India
- Semirara Mining and Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Mintek Dendrill Indonesia
- Banpu Public Company Limited - Thailand
- Tamil Nadu electricity Board
- Deloitte Consulting - India
- PetroVietnam Power Coal Import and Supply Company
- Independent Power Producers Association of India
- The University of Queensland
- Ministry of Transport, Egypt
- Singapore Mercantile Exchange
- Orica Australia Pty. Ltd.
- Coal and Oil Company - UAE
- Oldendorff Carriers - Singapore
- Therma Luzon, Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Savvy Resources Ltd - HongKong
- GAC Shipping (India) Pvt Ltd
- SN Aboitiz Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Directorate Of Revenue Intelligence - India
- Vizag Seaport Private Limited - India
- Videocon Industries ltd - India
- Baramulti Group, Indonesia
- Indika Energy - Indonesia
- Gujarat Sidhee Cement - India
- Africa Commodities Group - South Africa
- Energy Link Ltd, New Zealand
- Agrawal Coal Company - India
- Karaikal Port Pvt Ltd - India
- Eastern Coal Council - USA
- Commonwealth Bank - Australia
- Tata Chemicals Ltd - India
- Kepco SPC Power Corporation, Philippines
- Coalindo Energy - Indonesia
- India Bulls Power Limited - India
- Indogreen Group - Indonesia
- Georgia Ports Authority, United States
- PTC India Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement PLC, Thailand
- Trasteel International SA, Italy
- Port Waratah Coal Services - Australia
- GMR Energy Limited - India
- Ministry of Mines - Canada
- Kalimantan Lumbung Energi - Indonesia
- Thiess Contractors Indonesia
- Energy Development Corp, Philippines
- Central Java Power - Indonesia
- Straits Asia Resources Limited - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Power Finance Corporation Ltd., India
- Siam City Cement - Thailand
- Medco Energi Mining Internasional
- Kohat Cement Company Ltd. - Pakistan
- Cement Manufacturers Association - India
- Kartika Selabumi Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Kobexindo Tractors - Indoneisa
- Minerals Council of Australia
- Globalindo Alam Lestari - Indonesia
- Xindia Steels Limited - India
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