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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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Tuesday, 26 April 22
CHINA'S APPETITE FOR BAUXITE HITS NEW RECORD AS Q1 IMPORTS JUMP 15.4% Y/Y - BIMCO
Bauxite shipments arriving in China hit new record levels in the first quarter of 2022 and grew at an average annual rate of 12.8% between 2017 and ...
Tuesday, 26 April 22
INDIA'S COAL IMPORTS ARE SHIFTING, THERMAL MORE THAN COKING - REUTERS
India’s coal imports are starting to reflect shifting world trade and pricing dynamics in the wake of Russia’s invasion of neighbouring ...
Monday, 18 April 22
GERMAN COAL IMPORTERS EXPECT A BRIEF SPIKE IN PRICES ON EU BAN - REUTERS
A European Union embargo on Russian coal imports will push up prices in the short term before alternative supplies become available to steady the c ...
Monday, 18 April 22
FINNISH 'LOOPHOLES' ALLOW IMPORTS OF RUSSIAN COAL AND OIL TO CONTINUE - EURONEWS
Activists in Finland are calling for the government to clamp down faster on state-owned companies that continue to import raw materials from Russia ...
Monday, 18 April 22
GOVT IN DISCUSSION WITH WORLD BANK ON FRAMEWORK FOR COAL MINE CLOSURE - BUSINESS STANDARD
The coal ministry is in discussions with the World Bank for collaboration on the mine closure framework, a government official said on Wednesday.
...
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- Sakthi Sugars Limited - India
- TeaM Sual Corporation - Philippines
- Independent Power Producers Association of India
- International Coal Ventures Pvt Ltd - India
- Anglo American - United Kingdom
- Barasentosa Lestari - Indonesia
- Grasim Industreis Ltd - India
- Africa Commodities Group - South Africa
- Chettinad Cement Corporation Ltd - India
- Semirara Mining Corp, Philippines
- Ministry of Transport, Egypt
- Commonwealth Bank - Australia
- Sical Logistics Limited - India
- Banpu Public Company Limited - Thailand
- Edison Trading Spa - Italy
- Bhushan Steel Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Agrawal Coal Company - India
- Sarangani Energy Corporation, Philippines
- Posco Energy - South Korea
- Tata Chemicals Ltd - India
- Savvy Resources Ltd - HongKong
- Essar Steel Hazira Ltd - India
- Ceylon Electricity Board - Sri Lanka
- PetroVietnam Power Coal Import and Supply Company
- Bukit Makmur.PT - Indonesia
- Singapore Mercantile Exchange
- LBH Netherlands Bv - Netherlands
- European Bulk Services B.V. - Netherlands
- Sojitz Corporation - Japan
- Lanco Infratech Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Vizag Seaport Private Limited - India
- Orica Mining Services - Indonesia
- Baramulti Group, Indonesia
- Meenaskhi Energy Private Limited - India
- London Commodity Brokers - England
- IEA Clean Coal Centre - UK
- Xindia Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Formosa Plastics Group - Taiwan
- Borneo Indobara - Indonesia
- Therma Luzon, Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Heidelberg Cement - Germany
- Jindal Steel & Power Ltd - India
- Meralco Power Generation, Philippines
- Goldman Sachs - Singapore
- CIMB Investment Bank - Malaysia
- Global Business Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Eastern Coal Council - USA
- Australian Commodity Traders Exchange
- Coal and Oil Company - UAE
- Vedanta Resources Plc - India
- Wilmar Investment Holdings
- ICICI Bank Limited - India
- Oldendorff Carriers - Singapore
- Georgia Ports Authority, United States
- Samtan Co., Ltd - South Korea
- Directorate Of Revenue Intelligence - India
- Carbofer General Trading SA - India
- Ambuja Cements Ltd - India
- Salva Resources Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pendopo Energi Batubara - Indonesia
- Rio Tinto Coal - Australia
- Thai Mozambique Logistica
- Sree Jayajothi Cements Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- PNOC Exploration Corporation - Philippines
- Mjunction Services Limited - India
- Central Electricity Authority - India
- The Treasury - Australian Government
- Sinarmas Energy and Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Billiton Holdings Pty Ltd - Australia
- Bangladesh Power Developement Board
- Krishnapatnam Port Company Ltd. - India
- Interocean Group of Companies - India
- Aboitiz Power Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Intertek Mineral Services - Indonesia
- Aditya Birla Group - India
- Ministry of Finance - Indonesia
- Renaissance Capital - South Africa
- ASAPP Information Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- VISA Power Limited - India
- Central Java Power - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Electricity Authority, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Planning Commission, India
- Kumho Petrochemical, South Korea
- Indonesian Coal Mining Association
- Gujarat Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- OPG Power Generation Pvt Ltd - India
- McConnell Dowell - Australia
- Cigading International Bulk Terminal - Indonesia
- Bhatia International Limited - India
- AsiaOL BioFuels Corp., Philippines
- Thiess Contractors Indonesia
- Siam City Cement PLC, Thailand
- SN Aboitiz Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Bhoruka Overseas - Indonesia
- GMR Energy Limited - India
- Madhucon Powers Ltd - India
- Orica Australia Pty. Ltd.
- Economic Council, Georgia
- Star Paper Mills Limited - India
- Timah Investasi Mineral - Indoneisa
- Sindya Power Generating Company Private Ltd
- Mintek Dendrill Indonesia
- Malabar Cements Ltd - India
- Makarim & Taira - Indonesia
- Simpson Spence & Young - Indonesia
- Deloitte Consulting - India
- Minerals Council of Australia
- SMG Consultants - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Romanian Commodities Exchange
- GVK Power & Infra Limited - India
- Bulk Trading Sa - Switzerland
- IHS Mccloskey Coal Group - USA
- The University of Queensland
- Ministry of Mines - Canada
- Siam City Cement - Thailand
- Binh Thuan Hamico - Vietnam
- Kaltim Prima Coal - Indonesia
- Coastal Gujarat Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Australian Coal Association
- Mercator Lines Limited - India
- Karaikal Port Pvt Ltd - India
- Latin American Coal - Colombia
- New Zealand Coal & Carbon
- Straits Asia Resources Limited - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Videocon Industries ltd - India
- Antam Resourcindo - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Asmin Koalindo Tuhup - Indonesia
- White Energy Company Limited
- Gujarat Sidhee Cement - India
- Dalmia Cement Bharat India
- Kapuas Tunggal Persada - Indonesia
- Riau Bara Harum - Indonesia
- Parliament of New Zealand
- Power Finance Corporation Ltd., India
- Indian Energy Exchange, India
- Holcim Trading Pte Ltd - Singapore
- Global Coal Blending Company Limited - Australia
- Price Waterhouse Coopers - Russia
- Globalindo Alam Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Indian Oil Corporation Limited
- MS Steel International - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Medco Energi Mining Internasional
- Petron Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Kartika Selabumi Mining - Indonesia
- Electricity Generating Authority of Thailand
- Rashtriya Ispat Nigam Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- San Jose City I Power Corp, Philippines
- PTC India Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Tamil Nadu electricity Board
- Altura Mining Limited, Indonesia
- SMC Global Power, Philippines
- Ind-Barath Power Infra Limited - India
- Coalindo Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Indogreen Group - Indonesia
- Attock Cement Pakistan Limited
- Merrill Lynch Commodities Europe
- Marubeni Corporation - India
- PowerSource Philippines DevCo
- Metalloyd Limited - United Kingdom
- CNBM International Corporation - China
- Cement Manufacturers Association - India
- Indika Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Larsen & Toubro Limited - India
- Leighton Contractors Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Petrochimia International Co. Ltd.- Taiwan
- Energy Development Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Energy Link Ltd, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Directorate General of MIneral and Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Trasteel International SA, Italy
- Mercuria Energy - Indonesia
- Wood Mackenzie - Singapore
- Bharathi Cement Corporation - India
- Chamber of Mines of South Africa
- Eastern Energy - Thailand
- Bayan Resources Tbk. - Indonesia
- Standard Chartered Bank - UAE
- Parry Sugars Refinery, India
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