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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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Tuesday, 28 September 21
THE MAIDEN EDITION OF DIVE TECHNOLOGY SUMMIT 2021 CONCLUDES SUCCESSFULLY
Press Release: DIVE TECHNOLOGY SUMMIT 2021, a one-day conference on the recent technological advancements in the Industrial Diving industry conclud ...
Monday, 27 September 21
CHINESE COAL FIRMS MEET TO ADDRESS WINTER SUPPLY CHALLENGES - CNBC
Major Chinese coal producers are trying to resolve supply shortages and curb price rises as the country’s winter consumption peak approaches, ...
Saturday, 25 September 21
HIGH STAKES FOR ASIAN DEVELOPMENT BANK’S AMBITIOUS COAL POWER RETIREMENT PLAN - IEEFA
Implementation challenges could block funding for other equally important high impact clean energy funding strategies
In the lead up ...
Thursday, 23 September 21
LONGER COAL CONTRACTS MAY REIN IN PRICES - ECNS
In China’s coal sector that has been marred recently by price surges, regional authorities and related enterprises should ensure the fuel con ...
Thursday, 23 September 21
BALTIC INDEX HITS 12-YEAR PEAK ON FIRMER VESSELS RATES - REUTERS
The Baltic Exchange’s main dry bulk sea freight index rose for a fourth straight session on Wednesday to a 12-year high, buoyed by higher rat ...
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- Standard Chartered Bank - UAE
- Energy Development Corp, Philippines
- San Jose City I Power Corp, Philippines
- Kumho Petrochemical, South Korea
- Trasteel International SA, Italy
- VISA Power Limited - India
- Indian Energy Exchange, India
- OPG Power Generation Pvt Ltd - India
- Coal and Oil Company - UAE
- South Luzon Thermal Energy Corporation
- CNBM International Corporation - China
- Gujarat Sidhee Cement - India
- Pipit Mutiara Jaya. PT, Indonesia
- Salva Resources Pvt Ltd - India
- London Commodity Brokers - England
- LBH Netherlands Bv - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Directorate Of Revenue Intelligence - India
- Thiess Contractors Indonesia
- Heidelberg Cement - Germany
- Mercuria Energy - Indonesia
- Aditya Birla Group - India
- Timah Investasi Mineral - Indoneisa
- Edison Trading Spa - Italy
- Grasim Industreis Ltd - India
- Commonwealth Bank - Australia
- Jaiprakash Power Ventures ltd
- Ceylon Electricity Board - Sri Lanka
- The University of Queensland
- Coalindo Energy - Indonesia
- ASAPP Information Group - India
- Cigading International Bulk Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Singapore Mercantile Exchange
- Economic Council, Georgia
- Energy Link Ltd, New Zealand
- Xindia Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- Antam Resourcindo - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Australian Commodity Traders Exchange
- Altura Mining Limited, Indonesia
- Global Business Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- SN Aboitiz Power Inc, Philippines
- Rio Tinto Coal - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Uttam Galva Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Siam City Cement - Thailand
- Krishnapatnam Port Company Ltd. - India
- Toyota Tsusho Corporation, Japan
- SMG Consultants - Indonesia
- Parry Sugars Refinery, India
- Central Electricity Authority - India
- The Treasury - Australian Government
- Manunggal Multi Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Ministry of Finance - Indonesia
- Attock Cement Pakistan Limited
- Electricity Generating Authority of Thailand
- Oldendorff Carriers - Singapore
- Therma Luzon, Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- GMR Energy Limited - India
- Banpu Public Company Limited - Thailand
- Deloitte Consulting - India
- Kepco SPC Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bulk Trading Sa - Switzerland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PowerSource Philippines DevCo
- Jorong Barutama Greston.PT - Indonesia
- Merrill Lynch Commodities Europe
- Posco Energy - South Korea
- Port Waratah Coal Services - Australia
- Miang Besar Coal Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Sojitz Corporation - Japan
- AsiaOL BioFuels Corp., Philippines
- Kideco Jaya Agung - Indonesia
- Bangladesh Power Developement Board
- Latin American Coal - Colombia
- Orica Australia Pty. Ltd.
- European Bulk Services B.V. - Netherlands
- Ambuja Cements Ltd - India
- Sical Logistics Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Essar Steel Hazira Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Makarim & Taira - Indonesia
- Goldman Sachs - Singapore
- Samtan Co., Ltd - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Anglo American - United Kingdom
- PNOC Exploration Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Formosa Plastics Group - Taiwan
- Kapuas Tunggal Persada - Indonesia
- Central Java Power - Indonesia
- Iligan Light & Power Inc, Philippines
- Bhushan Steel Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Medco Energi Mining Internasional
- IEA Clean Coal Centre - UK
- Lanco Infratech Ltd - India
- Bukit Makmur.PT - Indonesia
- Minerals Council of Australia
- International Coal Ventures Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Videocon Industries ltd - India
- Carbofer General Trading SA - India
- Borneo Indobara - Indonesia
- Cement Manufacturers Association - India
- Mintek Dendrill Indonesia
- Semirara Mining and Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Directorate General of MIneral and Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Planning Commission, India
- Chamber of Mines of South Africa
- Globalindo Alam Lestari - Indonesia
- White Energy Company Limited
- Power Finance Corporation Ltd., India
- Africa Commodities Group - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Kobexindo Tractors - Indoneisa
- Electricity Authority, New Zealand
- Indogreen Group - Indonesia
- Independent Power Producers Association of India
- Marubeni Corporation - India
- Vizag Seaport Private Limited - India
- Wilmar Investment Holdings
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Agrawal Coal Company - India
- Indian Oil Corporation Limited
- Siam City Cement PLC, Thailand
- Riau Bara Harum - Indonesia
- Global Green Power PLC Corporation, Philippines
- Australian Coal Association
- Sarangani Energy Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Renaissance Capital - South Africa
- ICICI Bank Limited - India
- Intertek Mineral Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Dalmia Cement Bharat India
- Semirara Mining Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- New Zealand Coal & Carbon
- Bhatia International Limited - India
- Mercator Lines Limited - India
- Romanian Commodities Exchange
- Baramulti Group, Indonesia
- Ind-Barath Power Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Bhoruka Overseas - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jindal Steel & Power Ltd - India
- PTC India Limited - India
- Sindya Power Generating Company Private Ltd
- Parliament of New Zealand
- Meenaskhi Energy Private Limited - India
- India Bulls Power Limited - India
- The State Trading Corporation of India Ltd
- Global Coal Blending Company Limited - Australia
- Savvy Resources Ltd - HongKong
- Billiton Holdings Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Indika Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Rashtriya Ispat Nigam Limited - India
- Sinarmas Energy and Mining - Indonesia
- Orica Mining Services - Indonesia
- Petron Corporation, Philippines
- Vedanta Resources Plc - India
- Barasentosa Lestari - Indonesia
- MS Steel International - UAE
- Madhucon Powers Ltd - India
- Mjunction Services Limited - India
- Tata Chemicals Ltd - India
- Malabar Cements Ltd - India
- McConnell Dowell - Australia
- Interocean Group of Companies - India
- Larsen & Toubro Limited - India
- Georgia Ports Authority, United States
- Eastern Coal Council - USA
- Tamil Nadu electricity Board
- TeaM Sual Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Bharathi Cement Corporation - India
- Wood Mackenzie - Singapore
- Metalloyd Limited - United Kingdom
- Kaltim Prima Coal - Indonesia
- Indonesian Coal Mining Association
- Alfred C Toepfer International GmbH - Germany
- GVK Power & Infra Limited - India
- Meralco Power Generation, Philippines
- Eastern Energy - Thailand
- SMC Global Power, Philippines
- Ministry of Mines - Canada
- GAC Shipping (India) Pvt Ltd
- Thai Mozambique Logistica
- Star Paper Mills Limited - India
- Sakthi Sugars Limited - India
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