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