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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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Friday, 15 October 21
GLOBAL STEEL DEMAND GROWTH DOWNGRADED FOR 2021 DUE TO CHINA - WORLD STEEL ASSOCIATION
The World Steel Association (worldsteel) today released an update of its Short Range Outlook (SRO) for 2021 and 2022. worldsteel forecasts that ste ...
Thursday, 14 October 21
SPIKING COAL PRICES: DON’T BLAME THE ENERGY TRANSITION - IEEFA
Volatility highlights urgency for renewables-based energy solutions
“Energy crisis.” The phrase evokes nearly-forgotten ...
Thursday, 14 October 21
EIA FORECASTS U.S. COAL PRODUCTION TOTALS 588 MMST IN 2021, UP 53 MMST YOY
U.S. coal production in EIA's forecasts totals 588 million short tons (MMst) in 2021, 53 MMst more than in 2020.
According ...
Wednesday, 13 October 21
COAL PRICES ARE ROARING BACK AMID A GLOBAL ENERGY CRUNCH - SYDNEY MORNING HERALD
Soaring coal prices have placed Australia’s mining and energy exports on track to reach a record $349 billion this year evenas the value of t ...
Wednesday, 13 October 21
CHINA ISN'T THE ONLY HUGE ASIAN ECONOMY WITH A COAL SHORTAGE NOW - CNBC
China is not the only Asian giant grappling with an energy crunch — India is also teetering on the edge of a power crisis.
Mos ...
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- Bhatia International Limited - India
- Bayan Resources Tbk. - Indonesia
- Kideco Jaya Agung - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Uttam Galva Steels Limited - India
- Siam City Cement PLC, Thailand
- Karaikal Port Pvt Ltd - India
- Chamber of Mines of South Africa
- Global Business Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Oldendorff Carriers - Singapore
- Planning Commission, India
- PNOC Exploration Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Timah Investasi Mineral - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- Central Electricity Authority - India
- Bukit Baiduri Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Indian Energy Exchange, India
- Economic Council, Georgia
- Sical Logistics Limited - India
- Parry Sugars Refinery, India
- Dalmia Cement Bharat India
- OPG Power Generation Pvt Ltd - India
- Heidelberg Cement - Germany
- Borneo Indobara - Indonesia
- Coastal Gujarat Power Limited - India
- South Luzon Thermal Energy Corporation
- Kobexindo Tractors - Indoneisa
- Intertek Mineral Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tata Chemicals Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Thai Mozambique Logistica
- Meralco Power Generation, Philippines
- Electricity Authority, New Zealand
- Miang Besar Coal Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- Renaissance Capital - South Africa
- Lanco Infratech Ltd - India
- IEA Clean Coal Centre - UK
- Antam Resourcindo - Indonesia
- Africa Commodities Group - South Africa
- Binh Thuan Hamico - Vietnam
- International Coal Ventures Pvt Ltd - India
- SMC Global Power, Philippines
- Bhushan Steel Limited - India
- Indo Tambangraya Megah - Indonesia
- Aditya Birla Group - India
- Ambuja Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jindal Steel & Power Ltd - India
- IHS Mccloskey Coal Group - USA
- Vizag Seaport Private Limited - India
- Gujarat Sidhee Cement - India
- Kartika Selabumi Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Central Java Power - Indonesia
- Kepco SPC Power Corporation, Philippines
- Siam City Cement - Thailand
- Standard Chartered Bank - UAE
- CNBM International Corporation - China
- LBH Netherlands Bv - Netherlands
- Indian Oil Corporation Limited
- Manunggal Multi Energi - Indonesia
- PTC India Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Singapore Mercantile Exchange
- Independent Power Producers Association of India
- Marubeni Corporation - India
- Agrawal Coal Company - India
- Thiess Contractors Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ceylon Electricity Board - Sri Lanka
- Alfred C Toepfer International GmbH - Germany
- London Commodity Brokers - England
- Sarangani Energy Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Sojitz Corporation - Japan
- Larsen & Toubro Limited - India
- Straits Asia Resources Limited - Singapore
- Savvy Resources Ltd - HongKong
- Ministry of Transport, Egypt
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ASAPP Information Group - India
- Price Waterhouse Coopers - Russia
- Mercator Lines Limited - India
- Holcim Trading Pte Ltd - Singapore
- PowerSource Philippines DevCo
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The University of Queensland
- Madhucon Powers Ltd - India
- Altura Mining Limited, Indonesia
- Therma Luzon, Inc, Philippines
- Bharathi Cement Corporation - India
- Georgia Ports Authority, United States
- Romanian Commodities Exchange
- Ind-Barath Power Infra Limited - India
- McConnell Dowell - Australia
- Leighton Contractors Pty Ltd - Australia
- Star Paper Mills Limited - India
- Gujarat Mineral Development Corp Ltd - India
- ICICI Bank Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Orica Australia Pty. Ltd.
- Ministry of Mines - Canada
- Merrill Lynch Commodities Europe
- Orica Mining Services - Indonesia
- Indonesian Coal Mining Association
- Wilmar Investment Holdings
- Global Green Power PLC Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Finance - Indonesia
- Australian Coal Association
- Kumho Petrochemical, South Korea
- TeaM Sual Corporation - Philippines
- Eastern Energy - Thailand
- Coal and Oil Company - UAE
- Attock Cement Pakistan Limited
- Mjunction Services Limited - India
- India Bulls Power Limited - India
- Bangladesh Power Developement Board
- Aboitiz Power Corporation - Philippines
- Xindia Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- White Energy Company Limited
- The State Trading Corporation of India Ltd
- Commonwealth Bank - Australia
- Cement Manufacturers Association - India
- Sakthi Sugars Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Minerals Council of Australia
- Krishnapatnam Port Company Ltd. - India
- Edison Trading Spa - Italy
- Directorate General of MIneral and Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Bhoruka Overseas - Indonesia
- Riau Bara Harum - Indonesia
- Tamil Nadu electricity Board
- Rio Tinto Coal - Australia
- Globalindo Alam Lestari - Indonesia
- Power Finance Corporation Ltd., India
- MS Steel International - UAE
- Goldman Sachs - Singapore
- Eastern Coal Council - USA
- Kaltim Prima Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Grasim Industreis Ltd - India
- Essar Steel Hazira Ltd - India
- GMR Energy Limited - India
- Salva Resources Pvt Ltd - India
- New Zealand Coal & Carbon
- AsiaOL BioFuels Corp., Philippines
- Indika Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- Mintek Dendrill Indonesia
- Mercuria Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Global Coal Blending Company Limited - Australia
- Energy Link Ltd, New Zealand
- Vedanta Resources Plc - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Medco Energi Mining Internasional
- Electricity Generating Authority of Thailand
- GN Power Mariveles Coal Plant, Philippines
- Indogreen Group - Indonesia
- Interocean Group of Companies - India
- Toyota Tsusho Corporation, Japan
- Anglo American - United Kingdom
- Parliament of New Zealand
- Bulk Trading Sa - Switzerland
- GVK Power & Infra Limited - India
- SMG Consultants - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- Videocon Industries ltd - India
- Semirara Mining Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Energy Development Corp, Philippines
- San Jose City I Power Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Australian Commodity Traders Exchange
- Port Waratah Coal Services - Australia
- Trasteel International SA, Italy
- Posco Energy - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Carbofer General Trading SA - India
- Maharashtra Electricity Regulatory Commission - India
- Deloitte Consulting - India
- Bahari Cakrawala Sebuku - Indonesia
- Petron Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Meenaskhi Energy Private Limited - India
- Latin American Coal - Colombia
- Wood Mackenzie - Singapore
- Bukit Makmur.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Baramulti Group, Indonesia
- Banpu Public Company Limited - Thailand
- Makarim & Taira - Indonesia
- VISA Power Limited - India
- Barasentosa Lestari - Indonesia
- The Treasury - Australian Government
- European Bulk Services B.V. - Netherlands
- Formosa Plastics Group - Taiwan
- Malabar Cements Ltd - India
- Coalindo Energy - Indonesia
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