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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, 11 September 21
CIL STEPS UP SUPPLY COAL TO POWER SECTOR; PER-DAY AVERAGE 20 PC HIGHER THAN LAST YEAR - PTI
State-owned CIL on Friday said it has stepped up the supply of coal to the power sector in the first eight days of the current month, with an avera ...
Saturday, 11 September 21
RECORD CHINESE COAL FUTURES SIGNAL NEED TO BOOST OUTPUT - REUTERS
China’s coal prices have climbed to a record high, signaling the need for more production in the short term, even as the government tries to ...
Saturday, 11 September 21
IN 2022, EIA EXPECTS U.S. COAL PRODUCTION TO INCREASE BY 47 MMST TO 648 MMST
U.S. Coal production accordng to EIA's forecast, totals 601 million short tons (MMst) in 2021, 66 MMst more than in 2020, EIA's Short-Term ...
Wednesday, 08 September 21
FITCH RATINGS RAISES THERMAL COAL PRICE ASSUMPTIONS ON TIGHT SUPPLY
Fitch Ratings has increased all its Qinhuangdao 5,500kcal/kg price assumptions and short- and medium-term Newcastle 6,000kcal/kg price assumptions ...
Wednesday, 08 September 21
COAL IS STILL KING; INDONESIAN COAL PRICE REFERENCE ABOVE $150 FOR FIRST TIME IN HISTORY
COALspot.com: The Indonesian Coal Price Reference rose dramatically from US$ 127.05 in February 2011, to a peak of US$ 150.03 in September 2021, be ...
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- GVK Power & Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Salva Resources Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Gujarat Sidhee Cement - India
- VISA Power Limited - India
- Meenaskhi Energy Private Limited - India
- The State Trading Corporation of India Ltd
- South Luzon Thermal Energy Corporation
- Petrochimia International Co. Ltd.- Taiwan
- Kapuas Tunggal Persada - Indonesia
- White Energy Company Limited
- Globalindo Alam Lestari - Indonesia
- Riau Bara Harum - Indonesia
- Africa Commodities Group - South Africa
- Leighton Contractors Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- Edison Trading Spa - Italy
- Bulk Trading Sa - Switzerland
- Pendopo Energi Batubara - Indonesia
- Eastern Coal Council - USA
- Wilmar Investment Holdings
- Maheswari Brothers Coal Limited - India
- LBH Netherlands Bv - Netherlands
- CIMB Investment Bank - Malaysia
- OPG Power Generation Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Grasim Industreis Ltd - India
- Commonwealth Bank - Australia
- Bayan Resources Tbk. - Indonesia
- Economic Council, Georgia
- Merrill Lynch Commodities Europe
- Lanco Infratech Ltd - India
- Directorate Of Revenue Intelligence - India
- Kumho Petrochemical, South Korea
- Ministry of Mines - Canada
- Mercuria Energy - Indonesia
- Australian Commodity Traders Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Videocon Industries ltd - India
- Formosa Plastics Group - Taiwan
- Medco Energi Mining Internasional
- Sojitz Corporation - Japan
- Interocean Group of Companies - India
- Orica Australia Pty. Ltd.
- Mjunction Services Limited - India
- Barasentosa Lestari - Indonesia
- Minerals Council of Australia
- TNB Fuel Sdn Bhd - Malaysia
- PowerSource Philippines DevCo
- Bhoruka Overseas - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sindya Power Generating Company Private Ltd
- Kartika Selabumi Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Miang Besar Coal Terminal - Indonesia
- Anglo American - United Kingdom
- Therma Luzon, Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kaltim Prima Coal - Indonesia
- Carbofer General Trading SA - India
- Krishnapatnam Port Company Ltd. - India
- Kobexindo Tractors - Indoneisa
- Uttam Galva Steels Limited - India
- Banpu Public Company Limited - Thailand
- PTC India Limited - India
- GAC Shipping (India) Pvt Ltd
- Coalindo Energy - Indonesia
- Thiess Contractors Indonesia
- Tamil Nadu electricity Board
- India Bulls Power Limited - India
- Indian Oil Corporation Limited
- New Zealand Coal & Carbon
- Aboitiz Power Corporation - Philippines
- Goldman Sachs - Singapore
- European Bulk Services B.V. - Netherlands
- Electricity Generating Authority of Thailand
- Ambuja Cements Ltd - India
- Baramulti Group, Indonesia
- Latin American Coal - Colombia
- Attock Cement Pakistan Limited
- Karaikal Port Pvt Ltd - India
- Coal and Oil Company - UAE
- Ceylon Electricity Board - Sri Lanka
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parry Sugars Refinery, India
- Electricity Authority, New Zealand
- Manunggal Multi Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Bhatia International Limited - India
- Marubeni Corporation - India
- Coastal Gujarat Power Limited - India
- Meralco Power Generation, Philippines
- Wood Mackenzie - Singapore
- Global Green Power PLC Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kideco Jaya Agung - Indonesia
- Orica Mining Services - Indonesia
- McConnell Dowell - Australia
- Ministry of Finance - Indonesia
- Essar Steel Hazira Ltd - India
- Central Electricity Authority - India
- Thai Mozambique Logistica
- ICICI Bank Limited - India
- Oldendorff Carriers - Singapore
- Kepco SPC Power Corporation, Philippines
- Petron Corporation, Philippines
- The University of Queensland
- Sree Jayajothi Cements Limited - India
- Chamber of Mines of South Africa
- Maharashtra Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- Rio Tinto Coal - Australia
- Power Finance Corporation Ltd., India
- The Treasury - Australian Government
- Cigading International Bulk Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Mercator Lines Limited - India
- Jindal Steel & Power Ltd - India
- SMC Global Power, Philippines
- Toyota Tsusho Corporation, Japan
- Xindia Steels Limited - India
- Malabar Cements Ltd - India
- Posco Energy - South Korea
- Indo Tambangraya Megah - Indonesia
- Deloitte Consulting - India
- Vizag Seaport Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Trasteel International SA, Italy
- Renaissance Capital - South Africa
- TeaM Sual Corporation - Philippines
- Mintek Dendrill Indonesia
- Vedanta Resources Plc - India
- Samtan Co., Ltd - South Korea
- Energy Link Ltd, New Zealand
- Planning Commission, India
- Straits Asia Resources Limited - Singapore
- SMG Consultants - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Binh Thuan Hamico - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Borneo Indobara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Independent Power Producers Association of India
- Eastern Energy - Thailand
- PNOC Exploration Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- San Jose City I Power Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- International Coal Ventures Pvt Ltd - India
- Energy Development Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement - Thailand
- Metalloyd Limited - United Kingdom
- Simpson Spence & Young - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bangladesh Power Developement Board
- GMR Energy Limited - India
- Semirara Mining Corp, Philippines
- Parliament of New Zealand
- Central Java Power - Indonesia
- Australian Coal Association
- Siam City Cement PLC, Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Ind-Barath Power Infra Limited - India
- IEA Clean Coal Centre - UK
- Makarim & Taira - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- MS Steel International - UAE
- Aditya Birla Group - India
- Cement Manufacturers Association - India
- IHS Mccloskey Coal Group - USA
- Indian Energy Exchange, India
- Dalmia Cement Bharat India
- Chettinad Cement Corporation Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Georgia Ports Authority, United States
- Antam Resourcindo - Indonesia
- Intertek Mineral Services - Indonesia
- Madhucon Powers Ltd - India
- Star Paper Mills Limited - India
- Bukit Makmur.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Indonesian Coal Mining Association
- ASAPP Information Group - India
- Global Business Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Tata Chemicals Ltd - India
- Romanian Commodities Exchange
- Port Waratah Coal Services - Australia
- Rashtriya Ispat Nigam Limited - India
- Agrawal Coal Company - India
- CNBM International Corporation - China
- Bharathi Cement Corporation - India
- Iligan Light & Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Sarangani Energy Corporation, Philippines
- Indika Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- London Commodity Brokers - England
- Ministry of Transport, Egypt
- Bhushan Steel Limited - India
- Heidelberg Cement - Germany
- Jorong Barutama Greston.PT - Indonesia
- Sical Logistics Limited - India
- Indogreen Group - Indonesia
- Sakthi Sugars Limited - India
- Singapore Mercantile Exchange
- Holcim Trading Pte Ltd - Singapore
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