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