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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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Saturday, 16 October 21
DESPITE HIGHER COAL PRICES, U.S. COAL RECOVERY LOOKS WEAK BY MOST MEASURES - IEEFA
U.S. coal sector is locked into a long-term sectoral decline
Coal prices have surged to the highest level in years in the U.S., and have soare ...
Saturday, 16 October 21
COAL IS 'KING' AS GAS PRICES SOAR, TOTAL CEO SAYS - AND IT’S BACKFIRING ON CLEANER ENERGY GOALS - CNBC
Surging natural gas prices have led to a jump in coal use, with plants in Europe and Asia firing back up as temperatures decline and the world grap ...
Saturday, 16 October 21
VIETNAM'S COAL-FIRED POWER MAY DOUBLE BY 2030 UNDER DRAFT ENERGY PLAN - REUTERS
Vietnam may double the amount of coal-fired electric generation it installs by 2030 under a draft power development plan submitted to the prime min ...
Friday, 15 October 21
AUSTRALIA'S WHITEHAVEN EXPECTS TO BE DEBT-FREE NEXT YEAR AS COAL PRICES SOAR - REUTERS
Australia’s Whitehaven Coal WHC.AX said on Thursday it expects to be debt-free by early 2022, as thermal coal prices surge to record highs on ...
Friday, 15 October 21
WINTER CHILL KEEPS CHINA'S COAL PRICES HIGH, POWER CRUNCH STOKES INFLATION - REUTERS
China coal prices held near record highs on Thursday as cold weather swept into the country’s north and power plants stocked up on the fuel t ...
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- Global Green Power PLC Corporation, Philippines
- Australian Commodity Traders Exchange
- SMC Global Power, Philippines
- Sinarmas Energy and Mining - Indonesia
- Petron Corporation, Philippines
- India Bulls Power Limited - India
- Standard Chartered Bank - UAE
- VISA Power Limited - India
- Bhatia International Limited - India
- Kartika Selabumi Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Anglo American - United Kingdom
- Meenaskhi Energy Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TeaM Sual Corporation - Philippines
- London Commodity Brokers - England
- Chamber of Mines of South Africa
- Cigading International Bulk Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Tamil Nadu electricity Board
- The State Trading Corporation of India Ltd
- Global Business Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Central Electricity Authority - India
- Makarim & Taira - Indonesia
- LBH Netherlands Bv - Netherlands
- Bulk Trading Sa - Switzerland
- Kumho Petrochemical, South Korea
- Star Paper Mills Limited - India
- Thai Mozambique Logistica
- Therma Luzon, Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Eastern Energy - Thailand
- Altura Mining Limited, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Deloitte Consulting - India
- Carbofer General Trading SA - India
- Agrawal Coal Company - India
- Miang Besar Coal Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Indian Oil Corporation Limited
- Coalindo Energy - Indonesia
- Rio Tinto Coal - Australia
- Jaiprakash Power Ventures ltd
- Riau Bara Harum - Indonesia
- Electricity Authority, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Globalindo Alam Lestari - Indonesia
- Lanco Infratech Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- ASAPP Information Group - India
- Thiess Contractors Indonesia
- Bhushan Steel Limited - India
- Pendopo Energi Batubara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Goldman Sachs - Singapore
- SMG Consultants - Indonesia
- Parliament of New Zealand
- Tata Chemicals Ltd - India
- Aboitiz Power Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- PNOC Exploration Corporation - Philippines
- Parry Sugars Refinery, India
- Chettinad Cement Corporation Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Posco Energy - South Korea
- Salva Resources Pvt Ltd - India
- Planning Commission, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Transport, Egypt
- Indonesian Coal Mining Association
- Intertek Mineral Services - Indonesia
- Mjunction Services Limited - India
- Kepco SPC Power Corporation, Philippines
- Trasteel International SA, Italy
- Kideco Jaya Agung - Indonesia
- Sojitz Corporation - Japan
- Metalloyd Limited - United Kingdom
- Port Waratah Coal Services - Australia
- Semirara Mining and Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Commonwealth Bank - Australia
- Wood Mackenzie - Singapore
- Madhucon Powers Ltd - India
- Attock Cement Pakistan Limited
- Vedanta Resources Plc - India
- Bukit Asam (Persero) Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- The University of Queensland
- OPG Power Generation Pvt Ltd - India
- Central Java Power - Indonesia
- Barasentosa Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Videocon Industries ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Minerals Council of Australia
- Siam City Cement - Thailand
- Bukit Baiduri Energy - Indonesia
- Grasim Industreis Ltd - India
- Romanian Commodities Exchange
- Bhoruka Overseas - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Kobexindo Tractors - Indoneisa
- ICICI Bank Limited - India
- Ambuja Cements Ltd - India
- Independent Power Producers Association of India
- Straits Asia Resources Limited - Singapore
- Indika Energy - Indonesia
- Indogreen Group - Indonesia
- Karaikal Port Pvt Ltd - India
- CNBM International Corporation - China
- McConnell Dowell - Australia
- GVK Power & Infra Limited - India
- Kaltim Prima Coal - Indonesia
- San Jose City I Power Corp, Philippines
- PowerSource Philippines DevCo
- Bukit Makmur.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Alfred C Toepfer International GmbH - Germany
- Energy Link Ltd, New Zealand
- Maheswari Brothers Coal Limited - India
- Directorate Of Revenue Intelligence - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- PTC India Limited - India
- Billiton Holdings Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Essar Steel Hazira Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Sical Logistics Limited - India
- Toyota Tsusho Corporation, Japan
- Dalmia Cement Bharat India
- Eastern Coal Council - USA
- Simpson Spence & Young - Indonesia
- White Energy Company Limited
- Power Finance Corporation Ltd., India
- Latin American Coal - Colombia
- Sakthi Sugars Limited - India
- Antam Resourcindo - Indonesia
- Orica Australia Pty. Ltd.
- Sarangani Energy Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Coal and Oil Company - UAE
- Indo Tambangraya Megah - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Banpu Public Company Limited - Thailand
- Mercator Lines Limited - India
- Savvy Resources Ltd - HongKong
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement PLC, Thailand
- AsiaOL BioFuels Corp., Philippines
- Marubeni Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Borneo Indobara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- The Treasury - Australian Government
- Cement Manufacturers Association - India
- Electricity Generating Authority of Thailand
- SN Aboitiz Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Indian Energy Exchange, India
- Ministry of Finance - Indonesia
- Larsen & Toubro Limited - India
- Georgia Ports Authority, United States
- Baramulti Group, Indonesia
- Medco Energi Mining Internasional
- Gujarat Sidhee Cement - India
- Africa Commodities Group - South Africa
- Mintek Dendrill Indonesia
- Coastal Gujarat Power Limited - India
- Economic Council, Georgia
- Oldendorff Carriers - Singapore
- South Luzon Thermal Energy Corporation
- Merrill Lynch Commodities Europe
- Vijayanagar Sugar Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Australian Coal Association
- Meralco Power Generation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Uttam Galva Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Interocean Group of Companies - India
- Vizag Seaport Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- GAC Shipping (India) Pvt Ltd
- Orica Mining Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- Heidelberg Cement - Germany
- Manunggal Multi Energi - Indonesia
- Singapore Mercantile Exchange
- Aditya Birla Group - India
- Wilmar Investment Holdings
- Renaissance Capital - South Africa
- Sindya Power Generating Company Private Ltd
- Karbindo Abesyapradhi - Indoneisa
- Price Waterhouse Coopers - Russia
- New Zealand Coal & Carbon
- Bangladesh Power Developement Board
- Bahari Cakrawala Sebuku - Indonesia
- Edison Trading Spa - Italy
- Xindia Steels Limited - India
- Mercuria Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- GMR Energy Limited - India
- Ministry of Mines - Canada
- MS Steel International - UAE
- Formosa Plastics Group - Taiwan
- Samtan Co., Ltd - South Korea
- Sree Jayajothi Cements Limited - India
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