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