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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, 11 October 21
COAL ABANDONMENT IN POWER GENERATION PROMOTED GAS DEMAND GROWTH IN EUROPE - TOP MANAGER: TASS
Accelerated abandonment of coal in power generation and the overall recovery of economic activity facilitated gas demand growth in Europe and led t ...
Saturday, 09 October 21
CHINA POWER CUTS: COAL MINERS ORDERED TO BOOST OUTPUT, SAY REPORTS - BBC
Beijing has reportedly ordered China’s coal mines to boost output as an energy shortage across the country has seen millions of homes and bus ...
Friday, 08 October 21
SEPTEMBER CRUDE OIL TANKER DEMOLISHING HITS 39-MONTHS HIGH AT 1.9M DWT - PETER SAND
Has the lid finally come off for crude oil tanker demolition in 2021? If judged by the 1.9m DWT of capacity that was removed in September, the answ ...
Friday, 08 October 21
COAL SHORTAGE MAY LEAD TO RISE IN STEEL PRICES IN COMING MONTHS: JSPL MD - PTI
Steel prices are expected to increase in the coming months as companies are buying coal at three times the rates a month ago, said a top industry e ...
Wednesday, 06 October 21
INDONESIA COAL PRICE REFERENCE: ANOTHER MONTH, ANOTHER RALLY
COALspot.com: Indonesian Coal Price Reference in a steep climb for most of second and third quarters of 2021 as it reached a pinnacle of $161.63 Oc ...
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- Price Waterhouse Coopers - Russia
- Sree Jayajothi Cements Limited - India
- Africa Commodities Group - South Africa
- Indo Tambangraya Megah - Indonesia
- Straits Asia Resources Limited - Singapore
- Directorate Of Revenue Intelligence - India
- Toyota Tsusho Corporation, Japan
- Therma Luzon, Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Minerals Council of Australia
- Larsen & Toubro Limited - India
- Bangladesh Power Developement Board
- Eastern Coal Council - USA
- Coal and Oil Company - UAE
- Riau Bara Harum - Indonesia
- Vedanta Resources Plc - India
- MS Steel International - UAE
- Baramulti Group, Indonesia
- Oldendorff Carriers - Singapore
- Bhushan Steel Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Maheswari Brothers Coal Limited - India
- McConnell Dowell - Australia
- Siam City Cement - Thailand
- Global Green Power PLC Corporation, Philippines
- Agrawal Coal Company - India
- Parry Sugars Refinery, India
- Billiton Holdings Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Iligan Light & Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Singapore Mercantile Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Jaiprakash Power Ventures ltd
- The University of Queensland
- Carbofer General Trading SA - India
- Grasim Industreis Ltd - India
- Pendopo Energi Batubara - Indonesia
- Planning Commission, India
- ASAPP Information Group - India
- Power Finance Corporation Ltd., India
- VISA Power Limited - India
- PTC India Limited - India
- Economic Council, Georgia
- Jindal Steel & Power Ltd - India
- Uttam Galva Steels Limited - India
- Dalmia Cement Bharat India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Deloitte Consulting - India
- Manunggal Multi Energi - Indonesia
- Thai Mozambique Logistica
- Anglo American - United Kingdom
- Essar Steel Hazira Ltd - India
- Standard Chartered Bank - UAE
- Bhatia International Limited - India
- Chettinad Cement Corporation Ltd - India
- Bharathi Cement Corporation - India
- Bukit Makmur.PT - Indonesia
- Madhucon Powers Ltd - India
- IEA Clean Coal Centre - UK
- Central Electricity Authority - India
- Mercuria Energy - Indonesia
- Ministry of Finance - Indonesia
- Sical Logistics Limited - India
- Sakthi Sugars Limited - India
- Coastal Gujarat Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Samtan Co., Ltd - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Edison Trading Spa - Italy
- Gujarat Sidhee Cement - India
- South Luzon Thermal Energy Corporation
- Georgia Ports Authority, United States
- Tata Chemicals Ltd - India
- Mintek Dendrill Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Australia Pty. Ltd.
- Indogreen Group - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Interocean Group of Companies - India
- Australian Commodity Traders Exchange
- SMC Global Power, Philippines
- Independent Power Producers Association of India
- Banpu Public Company Limited - Thailand
- Sarangani Energy Corporation, Philippines
- The State Trading Corporation of India Ltd
- Jorong Barutama Greston.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Videocon Industries ltd - India
- CNBM International Corporation - China
- Energy Link Ltd, New Zealand
- San Jose City I Power Corp, Philippines
- Global Business Power Corporation, Philippines
- Energy Development Corp, Philippines
- Thiess Contractors Indonesia
- GAC Shipping (India) Pvt Ltd
- New Zealand Coal & Carbon
- Altura Mining Limited, Indonesia
- Wood Mackenzie - Singapore
- Lanco Infratech Ltd - India
- Ambuja Cements Ltd - India
- Kumho Petrochemical, South Korea
- Simpson Spence & Young - Indonesia
- IHS Mccloskey Coal Group - USA
- Commonwealth Bank - Australia
- Directorate General of MIneral and Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Mines - Canada
- Petron Corporation, Philippines
- Port Waratah Coal Services - Australia
- GMR Energy Limited - India
- Star Paper Mills Limited - India
- Mjunction Services Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Globalindo Alam Lestari - Indonesia
- Mercator Lines Limited - India
- Bhoruka Overseas - Indonesia
- LBH Netherlands Bv - Netherlands
- Indonesian Coal Mining Association
- PowerSource Philippines DevCo
- Borneo Indobara - Indonesia
- Siam City Cement PLC, Thailand
- Aditya Birla Group - India
- Chamber of Mines of South Africa
- Metalloyd Limited - United Kingdom
- Indika Energy - Indonesia
- Ministry of Transport, Egypt
- Kalimantan Lumbung Energi - Indonesia
- Sojitz Corporation - Japan
- GVK Power & Infra Limited - India
- SMG Consultants - Indonesia
- Xindia Steels Limited - India
- The Treasury - Australian Government
- Bukit Baiduri Energy - Indonesia
- Central Java Power - Indonesia
- Antam Resourcindo - Indonesia
- Kartika Selabumi Mining - Indonesia
- Eastern Energy - Thailand
- Romanian Commodities Exchange
- Meralco Power Generation, Philippines
- Attock Cement Pakistan Limited
- Miang Besar Coal Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Cement Manufacturers Association - India
- International Coal Ventures Pvt Ltd - India
- White Energy Company Limited
- Aboitiz Power Corporation - Philippines
- Coalindo Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kohat Cement Company Ltd. - Pakistan
- Trasteel International SA, Italy
- OPG Power Generation Pvt Ltd - India
- India Bulls Power Limited - India
- Malabar Cements Ltd - India
- Tamil Nadu electricity Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Authority, New Zealand
- Intertek Mineral Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- ICICI Bank Limited - India
- Semirara Mining Corp, Philippines
- Parliament of New Zealand
- Marubeni Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meenaskhi Energy Private Limited - India
- Makarim & Taira - Indonesia
- Renaissance Capital - South Africa
- Semirara Mining and Power Corporation, Philippines
- Latin American Coal - Colombia
- Indian Energy Exchange, India
- Global Coal Blending Company Limited - Australia
- Sinarmas Energy and Mining - Indonesia
- Orica Mining Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Karaikal Port Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Bulk Trading Sa - Switzerland
- Vizag Seaport Private Limited - India
- Australian Coal Association
- Barasentosa Lestari - Indonesia
- London Commodity Brokers - England
- Bayan Resources Tbk. - Indonesia
- Ind-Barath Power Infra Limited - India
- Rio Tinto Coal - Australia
- Rashtriya Ispat Nigam Limited - India
- Medco Energi Mining Internasional
- Formosa Plastics Group - Taiwan
- Wilmar Investment Holdings
- Ceylon Electricity Board - Sri Lanka
- AsiaOL BioFuels Corp., Philippines
- Goldman Sachs - Singapore
- Indian Oil Corporation Limited
- Electricity Generating Authority of Thailand
- Neyveli Lignite Corporation Ltd, - India
- Leighton Contractors Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Merrill Lynch Commodities Europe
- Posco Energy - South Korea
- TeaM Sual Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- PNOC Exploration Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Holcim Trading Pte Ltd - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Heidelberg Cement - Germany
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