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Friday, 20 August 21
CHINA’S IRON ORE IMPORTS CONTRACTED YEAR-ON-YEAR BY 2% IN 2018 AND GREW YEAR-ON-YEAR BY ONLY 1% IN 2019 - COMMODORE RESEARCH
 Examining the last ten years of China’s crude steel output and iron ore imports shows that China’s iron ore imports have stayed resilient during each year where China’s crude steel output growth came under notable pressure, Commodore Research reported in its August report.
Commodore Research further noted, last decade began with China’s crude steel output growing year-on-year by 9% in 2011, and iron ore imports that year grew year-on-year by a robust 11%. However, 2012 then saw crude steel output grow year-on-year by only 3%, but iron ore imports that year still grew year-on-year by 9%. 2013 saw strong growth in both crude steel output and iron ore imports (each grew by 10%), but then 2014 saw crude steel production grow year-on-year by 5%. However, iron ore imports in 2014 still grew year-on-year by 13%. 2015 then saw China’s crude steel output contract year-on-year by 2%, but iron ore imports that year still grew year-on-year by 2%.
2016 then saw crude steel output grow year-on-year by only 1%, but iron ore imports that year grew year-on-year by 8%. 2017 saw the same growth in both crude steel output and iron ore imports (each grew year-on-year by 5%).
As we have been stressing in our work since we started our consultancy in 2010, Commodore Research said, it is global iron ore production that dictates China’s iron ore import volume. China has long remained content to purchase as much iron ore that exporters want to sell China (as imports are much higher quality than iron ore mined in China). Year after year has continued to show that China’s actual iron ore import demand remains resilient even when crude steel output growth comes under pressure. 2018 and 2019 would then go on to see weakness in iron ore imports, but this was not due to weakness in crude steel output. China’s iron ore imports contracted year-on-year by 2% in 2018 and grew year-on-year by only 1% in 2019, but crude steel output grew year-on-year by 10% in 2018 and by 7% in 2019. It was not weakness in steel output that led to two years of iron ore import weakness.
Global iron ore production was not finding significant growth at this time following years of weakness in iron ore prices, and overall global iron ore production was also hit further in 2019 after Vale’s dam collapse in January 2019 (which ended up curtailing Vale’s production). 2020 then ended up seeing China’s crude steel output grow year-on-year by 6% and iron ore imports grow year-on-year by 9%.
Overall, year after year has continued to show that China’s actual iron ore import demand remains resilient even if steel output experiences low growth or even contracts.
During the last ten years, Commodore Research said, there have been three years where China’s crude steel output grew by less than 5% (2012, 2015, and 2016) — and during all of these years China’s annual iron ore imports set new records. This historical fact is not making its way into market consensus. The Chinese government never comes out and states that iron ore imports can find strength even during years where steel output comes under pressure, but this is exactly what history has continued to show. Consuming as much imported iron ore as possible (at the expense of domestically mined iron ore) remains in the very best interest of China’s environment — and fortunately for the Chinese steel sector, the price of iron ore cargoes are now much more attractive.
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Monday, 23 August 21
CHINESE COAL PRODUCTION RISES 4.9 PCT IN 1ST 7 MONTHS OF 2021 - NBS
Official figures demonstrated that the Chinese raw coal production surged 4.9 percent annually to 2.26 billion tonnes in the January-July period of ...
Friday, 20 August 21
ARE WE LOOKING AT THE NEXT DRY BULK SUPER CYCLE? IS IT EVEN A CYCLE? - BIMCO
Throughout the first half of the year, talk of a new dry bulk super cycle has been on many lips as commodity prices have soared to multi-year highs ...
Friday, 20 August 21
BIMCO'S SHIPPING NUMBER OF THE WEEK: CHINESE IRON ORE IMPORTS FALL TO 14-MONTH LOW IN JULY - PETER SAND
Chinese iron ore imports fell to 88.5 million tonnes in July, the lowest level since May 2020. The fall in July means that accumulated imports are ...
Friday, 20 August 21
SOARING DEMAND FOR THE WORLD’S LEAST-LIKED COMMODITY SEES THERMAL COAL PRICES JUMP 106% THIS YEAR - CNBC
Soaring electricity demand, infrastructure woes and a surge in global gas prices have triggered an extraordinary rally for the world’s least ...
Friday, 13 August 21
INDONESIA’S COAL EXPORTS TO JAPAN DECLINED BY -26.3% YOY TO 11.9 MLN TONNES IN THE FIRST 7 MONTHS OF 2021; STILL THE SECOND LARGEST SOURCE FOR JAPAN’S COAL IMPORTS IS INDONESIA - BANCHERO COSTA
2020 proved to be a truly terrible year for global seaborne coal trade. Total global loadings in the 12 months of 2020 were down -12.7% year-on-yea ...
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- Savvy Resources Ltd - HongKong
- Global Green Power PLC Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- GVK Power & Infra Limited - India
- Chamber of Mines of South Africa
- Siam City Cement PLC, Thailand
- Star Paper Mills Limited - India
- Sindya Power Generating Company Private Ltd
- Central Electricity Authority - India
- Petron Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Indian Oil Corporation Limited
- Samtan Co., Ltd - South Korea
- Neyveli Lignite Corporation Ltd, - India
- Bukit Baiduri Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- PTC India Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- White Energy Company Limited
- Kepco SPC Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Latin American Coal - Colombia
- Siam City Cement - Thailand
- Aboitiz Power Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Electricity Generating Authority of Thailand
- Straits Asia Resources Limited - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Trasteel International SA, Italy
- Anglo American - United Kingdom
- Altura Mining Limited, Indonesia
- Global Coal Blending Company Limited - Australia
- Baramulti Group, Indonesia
- Uttam Galva Steels Limited - India
- Bharathi Cement Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Carbofer General Trading SA - India
- Antam Resourcindo - Indonesia
- Merrill Lynch Commodities Europe
- South Luzon Thermal Energy Corporation
- Manunggal Multi Energi - Indonesia
- Coal and Oil Company - UAE
- San Jose City I Power Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Grasim Industreis Ltd - India
- Madhucon Powers Ltd - India
- Timah Investasi Mineral - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Interocean Group of Companies - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining Corp, Philippines
- Aditya Birla Group - India
- Holcim Trading Pte Ltd - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Finance - Indonesia
- Bhatia International Limited - India
- Bayan Resources Tbk. - Indonesia
- Energy Link Ltd, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Ambuja Cements Ltd - India
- Eastern Energy - Thailand
- Romanian Commodities Exchange
- Riau Bara Harum - Indonesia
- Goldman Sachs - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GMR Energy Limited - India
- Indo Tambangraya Megah - Indonesia
- Vizag Seaport Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- TNB Fuel Sdn Bhd - Malaysia
- Meenaskhi Energy Private Limited - India
- McConnell Dowell - Australia
- Thai Mozambique Logistica
- Australian Commodity Traders Exchange
- Simpson Spence & Young - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Minerals Council of Australia
- Jaiprakash Power Ventures ltd
- Ministry of Transport, Egypt
- Karaikal Port Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Bhushan Steel Limited - India
- Standard Chartered Bank - UAE
- IEA Clean Coal Centre - UK
- Power Finance Corporation Ltd., India
- Georgia Ports Authority, United States
- Central Java Power - Indonesia
- Ministry of Mines - Canada
- Wood Mackenzie - Singapore
- Indonesian Coal Mining Association
- Lanco Infratech Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Parry Sugars Refinery, India
- Mintek Dendrill Indonesia
- Coastal Gujarat Power Limited - India
- Wilmar Investment Holdings
- Borneo Indobara - Indonesia
- Attock Cement Pakistan Limited
- Dalmia Cement Bharat India
- Marubeni Corporation - India
- TeaM Sual Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Orica Mining Services - Indonesia
- Heidelberg Cement - Germany
- Kumho Petrochemical, South Korea
- Coalindo Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Kobexindo Tractors - Indoneisa
- Videocon Industries ltd - India
- Bulk Trading Sa - Switzerland
- Commonwealth Bank - Australia
- International Coal Ventures Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Cement Manufacturers Association - India
- Indogreen Group - Indonesia
- Planning Commission, India
- London Commodity Brokers - England
- Bahari Cakrawala Sebuku - Indonesia
- The Treasury - Australian Government
- Intertek Mineral Services - Indonesia
- Tata Chemicals Ltd - India
- OPG Power Generation Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Eastern Coal Council - USA
- New Zealand Coal & Carbon
- LBH Netherlands Bv - Netherlands
- Australian Coal Association
- SMG Consultants - Indonesia
- Chettinad Cement Corporation Ltd - India
- Maheswari Brothers Coal Limited - India
- Deloitte Consulting - India
- SMC Global Power, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Sakthi Sugars Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Medco Energi Mining Internasional
- Sojitz Corporation - Japan
- Electricity Authority, New Zealand
- ASAPP Information Group - India
- Port Waratah Coal Services - Australia
- Global Business Power Corporation, Philippines
- Bangladesh Power Developement Board
- ICICI Bank Limited - India
- CIMB Investment Bank - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Makarim & Taira - Indonesia
- Xindia Steels Limited - India
- Agrawal Coal Company - India
- MS Steel International - UAE
- CNBM International Corporation - China
- Africa Commodities Group - South Africa
- Indian Energy Exchange, India
- Pendopo Energi Batubara - Indonesia
- Economic Council, Georgia
- Metalloyd Limited - United Kingdom
- Barasentosa Lestari - Indonesia
- Mercator Lines Limited - India
- Sical Logistics Limited - India
- Malabar Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Toyota Tsusho Corporation, Japan
- Energy Development Corp, Philippines
- Singapore Mercantile Exchange
- Price Waterhouse Coopers - Russia
- Alfred C Toepfer International GmbH - Germany
- Essar Steel Hazira Ltd - India
- Formosa Plastics Group - Taiwan
- Ind-Barath Power Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- Vedanta Resources Plc - India
- Jindal Steel & Power Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karbindo Abesyapradhi - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Meralco Power Generation, Philippines
- Bhoruka Overseas - Indonesia
- The State Trading Corporation of India Ltd
- Kideco Jaya Agung - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parliament of New Zealand
- The University of Queensland
- Independent Power Producers Association of India
- PowerSource Philippines DevCo
- Tamil Nadu electricity Board
- Jorong Barutama Greston.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Renaissance Capital - South Africa
- Mercuria Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Larsen & Toubro Limited - India
- Directorate Of Revenue Intelligence - India
- Posco Energy - South Korea
- VISA Power Limited - India
- Mjunction Services Limited - India
- Thiess Contractors Indonesia
- India Bulls Power Limited - India
- Rio Tinto Coal - Australia
- Edison Trading Spa - Italy
- Kartika Selabumi Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Sidhee Cement - India
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