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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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Thursday, 17 February 22
MAJOR INSTITUTIONS PROVIDED OVER $1.5 TRLN TO COAL SECTOR IN 2019-2021, SAYS NGO GROUP - REUTERS
Financial institutions channelled more than $1.5 trillion into the coal industry in loans and underwriting from January 2019 to November 2021, even ...
Thursday, 17 February 22
APAC THERMAL COAL PRICES TO EASE ON END OF INDONESIA EXPORT BAN - FITCH RATINGS
Fitch Ratings-Shanghai/Singapore-14 February 2022: APAC thermal coal prices are likely to come under pressure in the near term due to seasonally we ...
Tuesday, 15 February 22
IS ANOTHER COAL SHORTAGE CRISIS LOOMING OVER INDIA? - BUSINESS STANDARD
In December last year, the Federation of Indian Mineral Industries (FIMI) shot off a letter to the Prime Minister claiming that the coal crisis was ...
Tuesday, 15 February 22
THERMAL COAL'S RECORD PRICE RUN MAY END UP ITS OWN WORST ENEMY - REUTERS
The price of benchmark Australian thermal coal rose last week to trade near record highs, providing a short-term boost to producers but increasing ...
Thursday, 10 February 22
INDONESIA: COAL EXPORT BAN - SKULD
Indonesia's coal export ban in the light of force majeure and off-hire clauses
In January 2022, Indonesia, the world's biggest exporte ...
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- Indogreen Group - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mjunction Services Limited - India
- Karaikal Port Pvt Ltd - India
- Ambuja Cements Ltd - India
- Chamber of Mines of South Africa
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Sidhee Cement - India
- Bukit Asam (Persero) Tbk - Indonesia
- Xindia Steels Limited - India
- Port Waratah Coal Services - Australia
- CIMB Investment Bank - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Ministry of Finance - Indonesia
- LBH Netherlands Bv - Netherlands
- Global Business Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Electricity Authority, New Zealand
- Minerals Council of Australia
- Kapuas Tunggal Persada - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Power Finance Corporation Ltd., India
- OPG Power Generation Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Siam City Cement - Thailand
- Anglo American - United Kingdom
- PTC India Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Renaissance Capital - South Africa
- European Bulk Services B.V. - Netherlands
- London Commodity Brokers - England
- Barasentosa Lestari - Indonesia
- Carbofer General Trading SA - India
- Agrawal Coal Company - India
- International Coal Ventures Pvt Ltd - India
- Vizag Seaport Private Limited - India
- The University of Queensland
- Parliament of New Zealand
- Parry Sugars Refinery, India
- ASAPP Information Group - India
- New Zealand Coal & Carbon
- Thiess Contractors Indonesia
- Therma Luzon, Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- GMR Energy Limited - India
- Maheswari Brothers Coal Limited - India
- Samtan Co., Ltd - South Korea
- Rashtriya Ispat Nigam Limited - India
- Metalloyd Limited - United Kingdom
- IEA Clean Coal Centre - UK
- White Energy Company Limited
- Kartika Selabumi Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- Timah Investasi Mineral - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Oldendorff Carriers - Singapore
- Globalindo Alam Lestari - Indonesia
- Australian Coal Association
- Straits Asia Resources Limited - Singapore
- Chettinad Cement Corporation Ltd - India
- Ind-Barath Power Infra Limited - India
- South Luzon Thermal Energy Corporation
- Siam City Cement PLC, Thailand
- Tamil Nadu electricity Board
- Bukit Baiduri Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Directorate General of MIneral and Coal - Indonesia
- GVK Power & Infra Limited - India
- Economic Council, Georgia
- Star Paper Mills Limited - India
- Heidelberg Cement - Germany
- Indika Energy - Indonesia
- Grasim Industreis Ltd - India
- Essar Steel Hazira Ltd - India
- Thai Mozambique Logistica
- Ministry of Transport, Egypt
- Riau Bara Harum - Indonesia
- Sakthi Sugars Limited - India
- Tata Chemicals Ltd - India
- San Jose City I Power Corp, Philippines
- Intertek Mineral Services - Indonesia
- Sical Logistics Limited - India
- Sinarmas Energy and Mining - Indonesia
- Sojitz Corporation - Japan
- Banpu Public Company Limited - Thailand
- Indian Energy Exchange, India
- Planning Commission, India
- Coalindo Energy - Indonesia
- MS Steel International - UAE
- Indian Oil Corporation Limited
- Iligan Light & Power Inc, Philippines
- Videocon Industries ltd - India
- Jorong Barutama Greston.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Global Green Power PLC Corporation, Philippines
- Mintek Dendrill Indonesia
- Singapore Mercantile Exchange
- Kumho Petrochemical, South Korea
- Alfred C Toepfer International GmbH - Germany
- Mercator Lines Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Dalmia Cement Bharat India
- Standard Chartered Bank - UAE
- Australian Commodity Traders Exchange
- Jindal Steel & Power Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Aditya Birla Group - India
- SMG Consultants - Indonesia
- Energy Development Corp, Philippines
- Electricity Generating Authority of Thailand
- Attock Cement Pakistan Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CNBM International Corporation - China
- IHS Mccloskey Coal Group - USA
- Indo Tambangraya Megah - Indonesia
- The Treasury - Australian Government
- GAC Shipping (India) Pvt Ltd
- Holcim Trading Pte Ltd - Singapore
- Rio Tinto Coal - Australia
- Commonwealth Bank - Australia
- Energy Link Ltd, New Zealand
- Bharathi Cement Corporation - India
- Sindya Power Generating Company Private Ltd
- Meenaskhi Energy Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Altura Mining Limited, Indonesia
- Orica Australia Pty. Ltd.
- Goldman Sachs - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Bulk Trading Sa - Switzerland
- Antam Resourcindo - Indonesia
- Makarim & Taira - Indonesia
- Eastern Energy - Thailand
- Jaiprakash Power Ventures ltd
- Indonesian Coal Mining Association
- Mercuria Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- AsiaOL BioFuels Corp., Philippines
- Central Java Power - Indonesia
- Baramulti Group, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Posco Energy - South Korea
- Bangladesh Power Developement Board
- Central Electricity Authority - India
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Ministry of Mines - Canada
- Kepco SPC Power Corporation, Philippines
- Georgia Ports Authority, United States
- ICICI Bank Limited - India
- SN Aboitiz Power Inc, Philippines
- Edison Trading Spa - Italy
- Larsen & Toubro Limited - India
- SMC Global Power, Philippines
- Trasteel International SA, Italy
- Interocean Group of Companies - India
- Bukit Makmur.PT - Indonesia
- Cement Manufacturers Association - India
- Cigading International Bulk Terminal - Indonesia
- Borneo Indobara - Indonesia
- Kaltim Prima Coal - Indonesia
- Semirara Mining Corp, Philippines
- Vedanta Resources Plc - India
- Kobexindo Tractors - Indoneisa
- Eastern Coal Council - USA
- TNB Fuel Sdn Bhd - Malaysia
- Directorate Of Revenue Intelligence - India
- Billiton Holdings Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Kideco Jaya Agung - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Price Waterhouse Coopers - Russia
- Merrill Lynch Commodities Europe
- Marubeni Corporation - India
- Latin American Coal - Colombia
- Romanian Commodities Exchange
- Karbindo Abesyapradhi - Indoneisa
- McConnell Dowell - Australia
- Wilmar Investment Holdings
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Petron Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Uttam Galva Steels Limited - India
- Savvy Resources Ltd - HongKong
- Maharashtra Electricity Regulatory Commission - India
- Deloitte Consulting - India
- Aboitiz Power Corporation - Philippines
- VISA Power Limited - India
- PowerSource Philippines DevCo
- The State Trading Corporation of India Ltd
- Coal and Oil Company - UAE
- Bhatia International Limited - India
- Orica Mining Services - Indonesia
- Lanco Infratech Ltd - India
- Meralco Power Generation, Philippines
- Africa Commodities Group - South Africa
- Bhoruka Overseas - Indonesia
- Bhushan Steel Limited - India
- Pendopo Energi Batubara - Indonesia
- Wood Mackenzie - Singapore
- Medco Energi Mining Internasional
- Manunggal Multi Energi - Indonesia
- India Bulls Power Limited - India
- Independent Power Producers Association of India
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