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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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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Standard Chartered Bank - UAE
- Neyveli Lignite Corporation Ltd, - India
- Meralco Power Generation, Philippines
- Thiess Contractors Indonesia
- India Bulls Power Limited - India
- Dalmia Cement Bharat India
- Bhushan Steel Limited - India
- Meenaskhi Energy Private Limited - India
- Siam City Cement PLC, Thailand
- Singapore Mercantile Exchange
- Semirara Mining and Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Carbofer General Trading SA - India
- Price Waterhouse Coopers - Russia
- Vedanta Resources Plc - India
- Bangladesh Power Developement Board
- Wilmar Investment Holdings
- The University of Queensland
- Gujarat Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- Videocon Industries ltd - India
- Iligan Light & Power Inc, Philippines
- Interocean Group of Companies - India
- Independent Power Producers Association of India
- Sakthi Sugars Limited - India
- Riau Bara Harum - Indonesia
- Planning Commission, India
- Australian Coal Association
- IHS Mccloskey Coal Group - USA
- Baramulti Group, Indonesia
- Minerals Council of Australia
- Rio Tinto Coal - Australia
- Directorate General of MIneral and Coal - Indonesia
- Xindia Steels Limited - India
- Central Java Power - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercuria Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kartika Selabumi Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Romanian Commodities Exchange
- Kobexindo Tractors - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- MS Steel International - UAE
- Ministry of Mines - Canada
- Grasim Industreis Ltd - India
- Simpson Spence & Young - Indonesia
- Barasentosa Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Energy Development Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Power Finance Corporation Ltd., India
- The Treasury - Australian Government
- Electricity Generating Authority of Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Marubeni Corporation - India
- Ind-Barath Power Infra Limited - India
- Economic Council, Georgia
- Altura Mining Limited, Indonesia
- Bukit Makmur.PT - Indonesia
- PTC India Limited - India
- Globalindo Alam Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Kaltim Prima Coal - Indonesia
- VISA Power Limited - India
- Siam City Cement - Thailand
- Vizag Seaport Private Limited - India
- White Energy Company Limited
- Maharashtra Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Sindya Power Generating Company Private Ltd
- Rashtriya Ispat Nigam Limited - India
- Pendopo Energi Batubara - Indonesia
- Bhatia International Limited - India
- Cement Manufacturers Association - India
- Jindal Steel & Power Ltd - India
- Coalindo Energy - Indonesia
- Anglo American - United Kingdom
- Uttam Galva Steels Limited - India
- TeaM Sual Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Bahari Cakrawala Sebuku - Indonesia
- GMR Energy Limited - India
- Coal and Oil Company - UAE
- Toyota Tsusho Corporation, Japan
- Bharathi Cement Corporation - India
- Metalloyd Limited - United Kingdom
- LBH Netherlands Bv - Netherlands
- Eastern Coal Council - USA
- The State Trading Corporation of India Ltd
- Sical Logistics Limited - India
- Sarangani Energy Corporation, Philippines
- Electricity Authority, New Zealand
- Salva Resources Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Karaikal Port Pvt Ltd - India
- Posco Energy - South Korea
- Lanco Infratech Ltd - India
- Kapuas Tunggal Persada - Indonesia
- ASAPP Information Group - India
- OPG Power Generation Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Sojitz Corporation - Japan
- Indogreen Group - Indonesia
- Star Paper Mills Limited - India
- CNBM International Corporation - China
- Therma Luzon, Inc, Philippines
- New Zealand Coal & Carbon
- Bukit Baiduri Energy - Indonesia
- Commonwealth Bank - Australia
- Intertek Mineral Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Goldman Sachs - Singapore
- Mjunction Services Limited - India
- Straits Asia Resources Limited - Singapore
- Oldendorff Carriers - Singapore
- Formosa Plastics Group - Taiwan
- Gujarat Mineral Development Corp Ltd - India
- Antam Resourcindo - Indonesia
- McConnell Dowell - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Asam (Persero) Tbk - Indonesia
- Agrawal Coal Company - India
- Semirara Mining Corp, Philippines
- Indian Oil Corporation Limited
- CIMB Investment Bank - Malaysia
- Latin American Coal - Colombia
- Ministry of Transport, Egypt
- Cigading International Bulk Terminal - Indonesia
- ICICI Bank Limited - India
- Bhoruka Overseas - Indonesia
- Samtan Co., Ltd - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ceylon Electricity Board - Sri Lanka
- San Jose City I Power Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Central Electricity Authority - India
- Parry Sugars Refinery, India
- GAC Shipping (India) Pvt Ltd
- Africa Commodities Group - South Africa
- Mercator Lines Limited - India
- Kumho Petrochemical, South Korea
- Maheswari Brothers Coal Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- SMC Global Power, Philippines
- Indonesian Coal Mining Association
- Deloitte Consulting - India
- Thai Mozambique Logistica
- Bayan Resources Tbk. - Indonesia
- Essar Steel Hazira Ltd - India
- Medco Energi Mining Internasional
- PNOC Exploration Corporation - Philippines
- Petron Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- European Bulk Services B.V. - Netherlands
- Mintek Dendrill Indonesia
- Miang Besar Coal Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Binh Thuan Hamico - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Energy Link Ltd, New Zealand
- Global Green Power PLC Corporation, Philippines
- Ministry of Finance - Indonesia
- Orica Mining Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coastal Gujarat Power Limited - India
- Indika Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Orica Australia Pty. Ltd.
- Ambuja Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Edison Trading Spa - Italy
- Eastern Energy - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Renaissance Capital - South Africa
- GN Power Mariveles Coal Plant, Philippines
- SMG Consultants - Indonesia
- Georgia Ports Authority, United States
- Australian Commodity Traders Exchange
- Chettinad Cement Corporation Ltd - India
- Aboitiz Power Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Merrill Lynch Commodities Europe
- Tata Chemicals Ltd - India
- Madhucon Powers Ltd - India
- South Luzon Thermal Energy Corporation
- Trasteel International SA, Italy
- Manunggal Multi Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Malabar Cements Ltd - India
- PowerSource Philippines DevCo
- GVK Power & Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- London Commodity Brokers - England
- Bulk Trading Sa - Switzerland
- Chamber of Mines of South Africa
- Sree Jayajothi Cements Limited - India
- Indian Energy Exchange, India
- Aditya Birla Group - India
- Attock Cement Pakistan Limited
- Heidelberg Cement - Germany
- Kideco Jaya Agung - Indonesia
- Jaiprakash Power Ventures ltd
- Jorong Barutama Greston.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Larsen & Toubro Limited - India
- Tamil Nadu electricity Board
- Parliament of New Zealand
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