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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, 09 August 21
CHINA COAL INVENTORY THINS AMID PEAK POWER DEMAND- STATE MEDIA : REUTERS
China’s coal inventories have dropped to near historic lows since August due to peak summer electricity demand and transportation bottlenecks ...
Wednesday, 04 August 21
THE INDONESIAN COAL PRICE REFERENCE SURGED TO A FRESH RECORD HIGH OF USD 130.99 A TON IN AUGUST 2021
COALspot.com: The Indonesian Coal Price Reference ( HBA) surged to a fresh record high of USD 130.99 a ton in August 2021.
The ...
Wednesday, 04 August 21
MARKET INSIGHT - INTERMODAL
Unlike the Dry Bulk and Container sectors where freight rates have surged into 2021, the tankers market continues to experience lackluster earnings ...
Sunday, 01 August 21
SEABORNE HARD COAL TRADE IN 2020 DECREASED BY 149 MILLION MT, OR 12.1%, TO 1,083 MILLION MT - GERMAN COAL IMPORTERS ASSOCIATION
- Reduced coal-fired power plant fleet secures Germany’s power supply in severe winter of 2020/2021; little wind availability and hence stron ...
Wednesday, 28 July 21
IN THE PHILIPPINES, COAL’S DEMISE MAKES WAY FOR A RENEWABLE ENERGY BOOM - IEEFA
Imported gas lock-in could undermine the economic benefits of a clean energy transition
The Philippines’ energy sector is on t ...
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- Asmin Koalindo Tuhup - Indonesia
- AsiaOL BioFuels Corp., Philippines
- White Energy Company Limited
- International Coal Ventures Pvt Ltd - India
- Global Business Power Corporation, Philippines
- MS Steel International - UAE
- Savvy Resources Ltd - HongKong
- OPG Power Generation Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Global Green Power PLC Corporation, Philippines
- Merrill Lynch Commodities Europe
- Indo Tambangraya Megah - Indonesia
- Electricity Generating Authority of Thailand
- Maheswari Brothers Coal Limited - India
- Kumho Petrochemical, South Korea
- Siam City Cement PLC, Thailand
- The State Trading Corporation of India Ltd
- Xindia Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Australian Coal Association
- Kohat Cement Company Ltd. - Pakistan
- Eastern Energy - Thailand
- Coalindo Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Videocon Industries ltd - India
- Dalmia Cement Bharat India
- Kartika Selabumi Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- ASAPP Information Group - India
- San Jose City I Power Corp, Philippines
- Bangladesh Power Developement Board
- Kepco SPC Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Thai Mozambique Logistica
- Bahari Cakrawala Sebuku - Indonesia
- Antam Resourcindo - Indonesia
- IHS Mccloskey Coal Group - USA
- Borneo Indobara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Aditya Birla Group - India
- Manunggal Multi Energi - Indonesia
- Vizag Seaport Private Limited - India
- Bhoruka Overseas - Indonesia
- Oldendorff Carriers - Singapore
- Marubeni Corporation - India
- Orica Mining Services - Indonesia
- Central Electricity Authority - India
- Port Waratah Coal Services - Australia
- Semirara Mining and Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Meenaskhi Energy Private Limited - India
- Chamber of Mines of South Africa
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Larsen & Toubro Limited - India
- Africa Commodities Group - South Africa
- Ceylon Electricity Board - Sri Lanka
- Economic Council, Georgia
- Ambuja Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Latin American Coal - Colombia
- Karbindo Abesyapradhi - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- ICICI Bank Limited - India
- Carbofer General Trading SA - India
- Mintek Dendrill Indonesia
- The Treasury - Australian Government
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bharathi Cement Corporation - India
- Electricity Authority, New Zealand
- LBH Netherlands Bv - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Tamil Nadu electricity Board
- Petrochimia International Co. Ltd.- Taiwan
- Jindal Steel & Power Ltd - India
- Banpu Public Company Limited - Thailand
- European Bulk Services B.V. - Netherlands
- Coastal Gujarat Power Limited - India
- Ind-Barath Power Infra Limited - India
- Semirara Mining Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Cement Manufacturers Association - India
- Deloitte Consulting - India
- PetroVietnam Power Coal Import and Supply Company
- Malabar Cements Ltd - India
- New Zealand Coal & Carbon
- Price Waterhouse Coopers - Russia
- Georgia Ports Authority, United States
- Independent Power Producers Association of India
- Jaiprakash Power Ventures ltd
- Salva Resources Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- PTC India Limited - India
- London Commodity Brokers - England
- Barasentosa Lestari - Indonesia
- India Bulls Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhatia International Limited - India
- Kaltim Prima Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Karaikal Port Pvt Ltd - India
- Siam City Cement - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Romanian Commodities Exchange
- VISA Power Limited - India
- Renaissance Capital - South Africa
- Altura Mining Limited, Indonesia
- Mercuria Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- GMR Energy Limited - India
- Alfred C Toepfer International GmbH - Germany
- Anglo American - United Kingdom
- PNOC Exploration Corporation - Philippines
- Indian Oil Corporation Limited
- TeaM Sual Corporation - Philippines
- Wood Mackenzie - Singapore
- Medco Energi Mining Internasional
- Commonwealth Bank - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wilmar Investment Holdings
- PowerSource Philippines DevCo
- Star Paper Mills Limited - India
- Meralco Power Generation, Philippines
- Bhushan Steel Limited - India
- Eastern Coal Council - USA
- Standard Chartered Bank - UAE
- Cigading International Bulk Terminal - Indonesia
- Orica Australia Pty. Ltd.
- CIMB Investment Bank - Malaysia
- Coal and Oil Company - UAE
- Sree Jayajothi Cements Limited - India
- Lanco Infratech Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Petron Corporation, Philippines
- Parry Sugars Refinery, India
- Sical Logistics Limited - India
- Global Coal Blending Company Limited - Australia
- Neyveli Lignite Corporation Ltd, - India
- Riau Bara Harum - Indonesia
- Indogreen Group - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Toyota Tsusho Corporation, Japan
- Aboitiz Power Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Vedanta Resources Plc - India
- Kobexindo Tractors - Indoneisa
- Singapore Mercantile Exchange
- Essar Steel Hazira Ltd - India
- Trasteel International SA, Italy
- CNBM International Corporation - China
- Makarim & Taira - Indonesia
- SMC Global Power, Philippines
- Tata Chemicals Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Madhucon Powers Ltd - India
- Edison Trading Spa - Italy
- Rio Tinto Coal - Australia
- Metalloyd Limited - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- The University of Queensland
- Gujarat Mineral Development Corp Ltd - India
- Baramulti Group, Indonesia
- Simpson Spence & Young - Indonesia
- Interocean Group of Companies - India
- Billiton Holdings Pty Ltd - Australia
- Indian Energy Exchange, India
- Pendopo Energi Batubara - Indonesia
- Power Finance Corporation Ltd., India
- Uttam Galva Steels Limited - India
- Posco Energy - South Korea
- Chettinad Cement Corporation Ltd - India
- Ministry of Mines - Canada
- Thiess Contractors Indonesia
- Sojitz Corporation - Japan
- Australian Commodity Traders Exchange
- SMG Consultants - Indonesia
- Agrawal Coal Company - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercator Lines Limited - India
- Heidelberg Cement - Germany
- GVK Power & Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Binh Thuan Hamico - Vietnam
- Kideco Jaya Agung - Indonesia
- Parliament of New Zealand
- Bulk Trading Sa - Switzerland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indonesian Coal Mining Association
- Jorong Barutama Greston.PT - Indonesia
- Energy Link Ltd, New Zealand
- Grasim Industreis Ltd - India
- McConnell Dowell - Australia
- South Luzon Thermal Energy Corporation
- Mjunction Services Limited - India
- Goldman Sachs - Singapore
- Ministry of Finance - Indonesia
- Sakthi Sugars Limited - India
- Sarangani Energy Corporation, Philippines
- Central Java Power - Indonesia
- Attock Cement Pakistan Limited
- Minerals Council of Australia
- Energy Development Corp, Philippines
- Ministry of Transport, Egypt
- Formosa Plastics Group - Taiwan
- Planning Commission, India
- Indika Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Intertek Mineral Services - Indonesia
- IEA Clean Coal Centre - UK
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