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