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Wednesday, 09 February 22
MARKET INSIGHT - INTERMODAL
 Iron ore prices have jumped significantly in the week prior to the Chinese New Year with traders and producers stocking up on raw materials. China’s stronger-than-expected steel production, combined with an aggressive restocking of inventory levels and the country’s ports had driven iron ore prices well above expectations.
Iron ore stocks have also spiked as analysts upgrade their price forecasts for the commodity on the back of another unexpected recovery. The record prices of last May tumbled unexpectedly fast to under $US100 a tonne, and currently iron ore is taking the pundits again by surprise with a new run that now has it back near $US150/t. The sentiment is apparently still driven by signals about increased infrastructure spending in China and upgraded price forecasts. Nevertheless, and apart from the price of the commodity itself, it is very important that we still see the good fundamentals and dynamics there, which in any case support our overall optimism and hopes that better and more stable freight rates for Capes must be around the corner.
Looking at Australian iron ore exports to China, it is positive to see they remained robust last month despite the backdrop of rising market prices due to multiple factors including weather disruption and labor “shortage” concerns. Industry analysts said the proportion of Australian iron ore in China’s total iron ore imports may be reduced to below 60 percent in 2022 for the first time since 2015, especially as China is still diversifying its sources of supplies and deepening industry upgrading while pursuing low-carbon targets at the same time.
The price of iron ore was also reflected in the rising imports in China in recent weeks, and perhaps it is more important to keep an eye on inventory levels as well. According to data from industry sources, the total inventory of iron ore imported by steel mills across China reached about 117.57 million tons this week, an increase of 470,200 tons from the previous month. Of course it is always possible that the price increase could simply and perhaps only be related to seasonal speculation itself.
Overall since 2015, China’s iron ore imports from Australia and Brazil have accounted for nearly 80 percent of all imports, of which imports from Australia have exceeded 60 percent. Bilateral relations have soured again recently due to Australia’s attitude toward China, which has caused disruption for trade activities. Iron ore exports are still among the few remaining products that are still in high demand in China, partly due to the needs of the domestic construction sector. However, the expectation is that import proportion from Australia in 2022 is likely to drop below 60 percent, having been 61.6 percent in 2021 and 62.5 percent in 2020. We also hear a lot about the change in policy and the potential domestic supply of iron ore in China, not sure however if all this is something that will really re-shape the market dynamics in the future.
By Christopher Whitty,
Director, Towage & Marine Port Services
Compiled by:
Intermodal Research & Valuations
Analysts:
Yiannis Parganas
Tamara Apostolou
Disclaimer and legal disclosure: For any further queries please do not hesitate to contact our Research & Valuations Department. The information contained in this report has been obtained from various sources, as reported in the market. Intermodal Shipbrokers Co. believes such information to be factual and reliable without making guarantees regarding its accuracy or completeness. Whilst every care has been taken in the production of the above review, no liability can be accepted for any loss or damage incurred in any way whatsoever by any person who may seek to rely on the information and views contained in this material. This report is being produced for the internal use of the intended recipients only and no reproducing is allowed, without the prior written authorization of Intermodal Shipbrokers Co.
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Friday, 29 July 22
GLENCORE TO SUPPLY COAL TO NIPPON STEEL AT $375 PER TON - BLOOMBERG
Glencore Plc, agreed to supply coal to Nippon Steel at one of the highest prices ever paid by the Japan Bloomberg reported on July 27.
...
Friday, 29 July 22
GLOBAL COAL DEMAND IS SET TO RETURN TO ITS ALL-TIME HIGH IN 2022 - IEA
The world’s consumption of coal is set to rise slightly in 2022, taking it back to the record level it reached nearly a decade ago, according ...
Thursday, 28 July 22
CREW FAMILIARISATION IS CRITICAL WHEN TAKING OVER A VESSEL - WEST P&I CLUB
Knowledge to Elevate
When a vessel changes ownership and/or manager, it can take some considerable time before the new crew and mana ...
Thursday, 28 July 22
RETURN OF COAL A THREAT TO EUROPEAN COMPANIES' ESG RATINGS - REUTERS
European companies turning to coal as an alternative to Russian gas face a hit to their environmental, social and governance ratings, leaving them ...
Wednesday, 27 July 22
MARKET INSIGHT - INTERMODAL
Amid the upcoming ban on Russian coal from the EU, which will be in full effect on August 10th, EU nations have been accelerating their coal import ...
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- Holcim Trading Pte Ltd - Singapore
- Aboitiz Power Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Meralco Power Generation, Philippines
- Port Waratah Coal Services - Australia
- Australian Coal Association
- AsiaOL BioFuels Corp., Philippines
- Romanian Commodities Exchange
- Energy Development Corp, Philippines
- Baramulti Group, Indonesia
- Global Business Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Neyveli Lignite Corporation Ltd, - India
- Indika Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Kobexindo Tractors - Indoneisa
- Kideco Jaya Agung - Indonesia
- Uttam Galva Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Sindya Power Generating Company Private Ltd
- Rashtriya Ispat Nigam Limited - India
- London Commodity Brokers - England
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercator Lines Limited - India
- Edison Trading Spa - Italy
- Wood Mackenzie - Singapore
- Star Paper Mills Limited - India
- Borneo Indobara - Indonesia
- Lanco Infratech Ltd - India
- European Bulk Services B.V. - Netherlands
- GVK Power & Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Malabar Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- Grasim Industreis Ltd - India
- Thiess Contractors Indonesia
- Deloitte Consulting - India
- Independent Power Producers Association of India
- ICICI Bank Limited - India
- International Coal Ventures Pvt Ltd - India
- Interocean Group of Companies - India
- Rio Tinto Coal - Australia
- Ambuja Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Marubeni Corporation - India
- SMC Global Power, Philippines
- Latin American Coal - Colombia
- Makarim & Taira - Indonesia
- San Jose City I Power Corp, Philippines
- Sojitz Corporation - Japan
- Electricity Generating Authority of Thailand
- Binh Thuan Hamico - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Commonwealth Bank - Australia
- PTC India Limited - India
- The University of Queensland
- Indonesian Coal Mining Association
- Bulk Trading Sa - Switzerland
- Indo Tambangraya Megah - Indonesia
- The State Trading Corporation of India Ltd
- Agrawal Coal Company - India
- Asmin Koalindo Tuhup - Indonesia
- Formosa Plastics Group - Taiwan
- MS Steel International - UAE
- Jorong Barutama Greston.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Intertek Mineral Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bahari Cakrawala Sebuku - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Simpson Spence & Young - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coal and Oil Company - UAE
- Mjunction Services Limited - India
- Alfred C Toepfer International GmbH - Germany
- Indian Oil Corporation Limited
- Kepco SPC Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Karaikal Port Pvt Ltd - India
- Eastern Energy - Thailand
- Salva Resources Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Georgia Ports Authority, United States
- TNB Fuel Sdn Bhd - Malaysia
- Central Electricity Authority - India
- Krishnapatnam Port Company Ltd. - India
- TeaM Sual Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- VISA Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Ministry of Transport, Egypt
- Gujarat Mineral Development Corp Ltd - India
- Posco Energy - South Korea
- Barasentosa Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- New Zealand Coal & Carbon
- Coastal Gujarat Power Limited - India
- Price Waterhouse Coopers - Russia
- Manunggal Multi Energi - Indonesia
- Merrill Lynch Commodities Europe
- Larsen & Toubro Limited - India
- Ceylon Electricity Board - Sri Lanka
- McConnell Dowell - Australia
- Bukit Baiduri Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- IEA Clean Coal Centre - UK
- Ministry of Mines - Canada
- Bukit Makmur.PT - Indonesia
- Standard Chartered Bank - UAE
- Sree Jayajothi Cements Limited - India
- Bayan Resources Tbk. - Indonesia
- Riau Bara Harum - Indonesia
- Heidelberg Cement - Germany
- Xindia Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bhoruka Overseas - Indonesia
- Antam Resourcindo - Indonesia
- Tamil Nadu electricity Board
- The Treasury - Australian Government
- Electricity Authority, New Zealand
- Siam City Cement - Thailand
- Tata Chemicals Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Trasteel International SA, Italy
- Australian Commodity Traders Exchange
- Bharathi Cement Corporation - India
- South Luzon Thermal Energy Corporation
- Eastern Coal Council - USA
- Sical Logistics Limited - India
- Global Green Power PLC Corporation, Philippines
- White Energy Company Limited
- Maheswari Brothers Coal Limited - India
- Orica Mining Services - Indonesia
- Sakthi Sugars Limited - India
- Altura Mining Limited, Indonesia
- Kumho Petrochemical, South Korea
- Indian Energy Exchange, India
- CNBM International Corporation - China
- Parry Sugars Refinery, India
- Essar Steel Hazira Ltd - India
- Kartika Selabumi Mining - Indonesia
- Bhatia International Limited - India
- Madhucon Powers Ltd - India
- Savvy Resources Ltd - HongKong
- Bukit Asam (Persero) Tbk - Indonesia
- India Bulls Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Gujarat Sidhee Cement - India
- Planning Commission, India
- Mintek Dendrill Indonesia
- PowerSource Philippines DevCo
- Indogreen Group - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Wilmar Investment Holdings
- Energy Link Ltd, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cigading International Bulk Terminal - Indonesia
- Africa Commodities Group - South Africa
- Cement Manufacturers Association - India
- Karbindo Abesyapradhi - Indoneisa
- Videocon Industries ltd - India
- Jindal Steel & Power Ltd - India
- Parliament of New Zealand
- Sinarmas Energy and Mining - Indonesia
- Anglo American - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vedanta Resources Plc - India
- Goldman Sachs - Singapore
- Coalindo Energy - Indonesia
- Chamber of Mines of South Africa
- Aditya Birla Group - India
- Bangladesh Power Developement Board
- SMG Consultants - Indonesia
- Medco Energi Mining Internasional
- Bhushan Steel Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Java Power - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Renaissance Capital - South Africa
- Oldendorff Carriers - Singapore
- PNOC Exploration Corporation - Philippines
- Vizag Seaport Private Limited - India
- Thai Mozambique Logistica
- Banpu Public Company Limited - Thailand
- ASAPP Information Group - India
- Attock Cement Pakistan Limited
- Iligan Light & Power Inc, Philippines
- Minerals Council of Australia
- Singapore Mercantile Exchange
- LBH Netherlands Bv - Netherlands
- IHS Mccloskey Coal Group - USA
- Meenaskhi Energy Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Petron Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Ministry of Finance - Indonesia
- Orica Australia Pty. Ltd.
- Straits Asia Resources Limited - Singapore
- Mercuria Energy - Indonesia
- Economic Council, Georgia
- Petrochimia International Co. Ltd.- Taiwan
- Kaltim Prima Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Dalmia Cement Bharat India
- GMR Energy Limited - India
- Therma Luzon, Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement PLC, Thailand
- Carbofer General Trading SA - India
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