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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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Monday, 18 April 22
DEMAND FOR THERMAL COAL TO RISE DUE TO INCREASE IN ELECTRICITY DEMAND: INDIAN COAL MINISTRY - PTI
Coal block allocatees have a golden opportunity to augment production as the demand for thermal coal will rise due to an increase in electricity de ...
Tuesday, 05 April 22
INDONESIAN COAL PRICE REFERENCE HITS RECORD ABOVE $288
COALspot.com: Indonesian Coal Price Reference for April in a steep climb from March 2022.
As expected, Russia – Ukraine war dr ...
Thursday, 31 March 22
CHINA STATE PLANNER ASKS COAL INDEX PROVIDERS TO RECTIFY IRREGULARITIES - REUTERS
China’s state planner has asked some major coal price index providers to rectify “severe irregularities” it had identified in the ...
Thursday, 31 March 22
IMPORTED COAL PRICES TO JUMP 55% IN APR-JUN, IMPACT INDIAN FIRMS: ICRA - LIVEMINT
Supply disruption owing to the Russia-Ukraine conflict could push the price of imported coal by 45-55% in Q1FY23 compared to the previous quarter, ...
Thursday, 31 March 22
CHINA'S COAL OUTPUT SET FOR MODERATE GROWTH IN 2022 - INDUSTRY BODY - REUTERS
China is expected to see its coal output to grow further in 2022 after hitting a record last year, an industry body forecast on Wednesday, as the c ...
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- Jorong Barutama Greston.PT - Indonesia
- Australian Coal Association
- Parliament of New Zealand
- Star Paper Mills Limited - India
- The Treasury - Australian Government
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- Indo Tambangraya Megah - Indonesia
- Bangladesh Power Developement Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ASAPP Information Group - India
- Directorate Of Revenue Intelligence - India
- Bulk Trading Sa - Switzerland
- Kobexindo Tractors - Indoneisa
- Altura Mining Limited, Indonesia
- London Commodity Brokers - England
- Vedanta Resources Plc - India
- Planning Commission, India
- Sindya Power Generating Company Private Ltd
- Chamber of Mines of South Africa
- Coal and Oil Company - UAE
- Malabar Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- New Zealand Coal & Carbon
- Tata Chemicals Ltd - India
- Simpson Spence & Young - Indonesia
- Antam Resourcindo - Indonesia
- Vizag Seaport Private Limited - India
- The State Trading Corporation of India Ltd
- Pendopo Energi Batubara - Indonesia
- Deloitte Consulting - India
- Parry Sugars Refinery, India
- AsiaOL BioFuels Corp., Philippines
- Makarim & Taira - Indonesia
- Latin American Coal - Colombia
- Africa Commodities Group - South Africa
- South Luzon Thermal Energy Corporation
- Kohat Cement Company Ltd. - Pakistan
- Central Electricity Authority - India
- Ambuja Cements Ltd - India
- Carbofer General Trading SA - India
- Samtan Co., Ltd - South Korea
- Commonwealth Bank - Australia
- Energy Development Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Formosa Plastics Group - Taiwan
- Gujarat Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Mercuria Energy - Indonesia
- PowerSource Philippines DevCo
- Attock Cement Pakistan Limited
- Orica Australia Pty. Ltd.
- Electricity Generating Authority of Thailand
- TeaM Sual Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Bhoruka Overseas - Indonesia
- Independent Power Producers Association of India
- PNOC Exploration Corporation - Philippines
- Power Finance Corporation Ltd., India
- Meenaskhi Energy Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Mjunction Services Limited - India
- Anglo American - United Kingdom
- Global Business Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Globalindo Alam Lestari - Indonesia
- Larsen & Toubro Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Trasteel International SA, Italy
- OPG Power Generation Pvt Ltd - India
- Dalmia Cement Bharat India
- Lanco Infratech Ltd - India
- Global Coal Blending Company Limited - Australia
- Eastern Energy - Thailand
- Indian Energy Exchange, India
- Kepco SPC Power Corporation, Philippines
- Central Java Power - Indonesia
- Ministry of Mines - Canada
- Baramulti Group, Indonesia
- Singapore Mercantile Exchange
- Binh Thuan Hamico - Vietnam
- International Coal Ventures Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Kartika Selabumi Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Georgia Ports Authority, United States
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Edison Trading Spa - Italy
- Videocon Industries ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- LBH Netherlands Bv - Netherlands
- Indika Energy - Indonesia
- Riau Bara Harum - Indonesia
- Krishnapatnam Port Company Ltd. - India
- The University of Queensland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Aditya Birla Group - India
- Banpu Public Company Limited - Thailand
- Kaltim Prima Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Sojitz Corporation - Japan
- Tamil Nadu electricity Board
- McConnell Dowell - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Standard Chartered Bank - UAE
- Australian Commodity Traders Exchange
- Posco Energy - South Korea
- Electricity Authority, New Zealand
- Romanian Commodities Exchange
- Cigading International Bulk Terminal - Indonesia
- Marubeni Corporation - India
- Coalindo Energy - Indonesia
- Bhushan Steel Limited - India
- Ind-Barath Power Infra Limited - India
- Madhucon Powers Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Savvy Resources Ltd - HongKong
- Ceylon Electricity Board - Sri Lanka
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chettinad Cement Corporation Ltd - India
- Sical Logistics Limited - India
- Xindia Steels Limited - India
- Agrawal Coal Company - India
- Energy Link Ltd, New Zealand
- Karaikal Port Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Interocean Group of Companies - India
- Intertek Mineral Services - Indonesia
- Maheswari Brothers Coal Limited - India
- Iligan Light & Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Rio Tinto Coal - Australia
- Miang Besar Coal Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Meralco Power Generation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Straits Asia Resources Limited - Singapore
- Indonesian Coal Mining Association
- GMR Energy Limited - India
- GAC Shipping (India) Pvt Ltd
- White Energy Company Limited
- Vijayanagar Sugar Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Minerals Council of Australia
- Metalloyd Limited - United Kingdom
- Indian Oil Corporation Limited
- Siam City Cement PLC, Thailand
- Petrochimia International Co. Ltd.- Taiwan
- SMC Global Power, Philippines
- Mintek Dendrill Indonesia
- Jindal Steel & Power Ltd - India
- Ministry of Transport, Egypt
- Borneo Indobara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Cement Manufacturers Association - India
- Economic Council, Georgia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- India Bulls Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sarangani Energy Corporation, Philippines
- Sakthi Sugars Limited - India
- Mercator Lines Limited - India
- Grasim Industreis Ltd - India
- Bharathi Cement Corporation - India
- Heidelberg Cement - Germany
- Goldman Sachs - Singapore
- Thai Mozambique Logistica
- Kumho Petrochemical, South Korea
- Essar Steel Hazira Ltd - India
- Wood Mackenzie - Singapore
- Aboitiz Power Corporation - Philippines
- Eastern Coal Council - USA
- Oldendorff Carriers - Singapore
- SN Aboitiz Power Inc, Philippines
- MS Steel International - UAE
- Bahari Cakrawala Sebuku - Indonesia
- European Bulk Services B.V. - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Manunggal Multi Energi - Indonesia
- ICICI Bank Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining Corp, Philippines
- Medco Energi Mining Internasional
- Coastal Gujarat Power Limited - India
- Merrill Lynch Commodities Europe
- Jaiprakash Power Ventures ltd
- Petron Corporation, Philippines
- Siam City Cement - Thailand
- Renaissance Capital - South Africa
- Wilmar Investment Holdings
- VISA Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Bhatia International Limited - India
- Billiton Holdings Pty Ltd - Australia
- CNBM International Corporation - China
- Orica Mining Services - Indonesia
- Indogreen Group - Indonesia
- Global Green Power PLC Corporation, Philippines
- Barasentosa Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Ministry of Finance - Indonesia
- CIMB Investment Bank - Malaysia
- Salva Resources Pvt Ltd - India
- Port Waratah Coal Services - Australia
- IHS Mccloskey Coal Group - USA
- Price Waterhouse Coopers - Russia
- Toyota Tsusho Corporation, Japan
- PTC India Limited - India
- San Jose City I Power Corp, Philippines
- SMG Consultants - Indonesia
- Thiess Contractors Indonesia
- GVK Power & Infra Limited - India
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