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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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Wednesday, 02 February 22
MARKET INSIGHT - INTERMODAL
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Sunday, 30 January 22
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Sunday, 30 January 22
ENDGAME FOR NEW COAL POWER PROJECTS? - IEEFA INDIA
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Thursday, 27 January 22
2022 - A YEAR OF REBALANCING FOR METALS AND MINING - WOOD MACKENZIE
If 2021 was the year of rebound for metals and mining (M&M) commodities, then 2022 is shaping as the year of rebalance, says Wood Mackenzie, a ...
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- Baramulti Group, Indonesia
- Directorate Of Revenue Intelligence - India
- Barasentosa Lestari - Indonesia
- Indika Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Sree Jayajothi Cements Limited - India
- Kumho Petrochemical, South Korea
- Vijayanagar Sugar Pvt Ltd - India
- CNBM International Corporation - China
- Sakthi Sugars Limited - India
- Deloitte Consulting - India
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- Altura Mining Limited, Indonesia
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- Sarangani Energy Corporation, Philippines
- Chamber of Mines of South Africa
- IEA Clean Coal Centre - UK
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- Tamil Nadu electricity Board
- Meralco Power Generation, Philippines
- London Commodity Brokers - England
- Goldman Sachs - Singapore
- Petron Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Mercuria Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ASAPP Information Group - India
- Medco Energi Mining Internasional
- IHS Mccloskey Coal Group - USA
- European Bulk Services B.V. - Netherlands
- Uttam Galva Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Miang Besar Coal Terminal - Indonesia
- Malabar Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- AsiaOL BioFuels Corp., Philippines
- MS Steel International - UAE
- Economic Council, Georgia
- Asmin Koalindo Tuhup - Indonesia
- Attock Cement Pakistan Limited
- PowerSource Philippines DevCo
- Essar Steel Hazira Ltd - India
- Energy Development Corp, Philippines
- Trasteel International SA, Italy
- Formosa Plastics Group - Taiwan
- LBH Netherlands Bv - Netherlands
- The State Trading Corporation of India Ltd
- Minerals Council of Australia
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- The Treasury - Australian Government
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- New Zealand Coal & Carbon
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- Aboitiz Power Corporation - Philippines
- Indogreen Group - Indonesia
- Kepco SPC Power Corporation, Philippines
- Commonwealth Bank - Australia
- PTC India Limited - India
- Sinarmas Energy and Mining - Indonesia
- Grasim Industreis Ltd - India
- Anglo American - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Mercator Lines Limited - India
- Parry Sugars Refinery, India
- Kideco Jaya Agung - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Globalindo Alam Lestari - Indonesia
- ICICI Bank Limited - India
- Bulk Trading Sa - Switzerland
- Binh Thuan Hamico - Vietnam
- Wood Mackenzie - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- GVK Power & Infra Limited - India
- Bhatia International Limited - India
- Salva Resources Pvt Ltd - India
- Ministry of Finance - Indonesia
- Carbofer General Trading SA - India
- Therma Luzon, Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Madhucon Powers Ltd - India
- Samtan Co., Ltd - South Korea
- Australian Commodity Traders Exchange
- Larsen & Toubro Limited - India
- South Luzon Thermal Energy Corporation
- Bahari Cakrawala Sebuku - Indonesia
- Indian Energy Exchange, India
- Global Business Power Corporation, Philippines
- Posco Energy - South Korea
- Electricity Authority, New Zealand
- Coal and Oil Company - UAE
- Jorong Barutama Greston.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Planning Commission, India
- Ind-Barath Power Infra Limited - India
- Price Waterhouse Coopers - Russia
- Ministry of Mines - Canada
- Independent Power Producers Association of India
- Neyveli Lignite Corporation Ltd, - India
- PNOC Exploration Corporation - Philippines
- Rio Tinto Coal - Australia
- San Jose City I Power Corp, Philippines
- Ambuja Cements Ltd - India
- Eastern Energy - Thailand
- Xindia Steels Limited - India
- Ministry of Transport, Egypt
- Central Java Power - Indonesia
- Latin American Coal - Colombia
- Pipit Mutiara Jaya. PT, Indonesia
- Bhushan Steel Limited - India
- Singapore Mercantile Exchange
- Pendopo Energi Batubara - Indonesia
- Mjunction Services Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Antam Resourcindo - Indonesia
- Oldendorff Carriers - Singapore
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- Thiess Contractors Indonesia
- Aditya Birla Group - India
- Sojitz Corporation - Japan
- Coastal Gujarat Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement - Thailand
- Billiton Holdings Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Edison Trading Spa - Italy
- Romanian Commodities Exchange
- Indian Oil Corporation Limited
- Meenaskhi Energy Private Limited - India
- Power Finance Corporation Ltd., India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karaikal Port Pvt Ltd - India
- Coalindo Energy - Indonesia
- SMG Consultants - Indonesia
- Central Electricity Authority - India
- Ceylon Electricity Board - Sri Lanka
- Maharashtra Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Mintek Dendrill Indonesia
- Vedanta Resources Plc - India
- GMR Energy Limited - India
- Savvy Resources Ltd - HongKong
- Electricity Generating Authority of Thailand
- Semirara Mining and Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Merrill Lynch Commodities Europe
- Georgia Ports Authority, United States
- Kartika Selabumi Mining - Indonesia
- McConnell Dowell - Australia
- Indo Tambangraya Megah - Indonesia
- SMC Global Power, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- International Coal Ventures Pvt Ltd - India
- VISA Power Limited - India
- Toyota Tsusho Corporation, Japan
- The University of Queensland
- Jaiprakash Power Ventures ltd
- Indonesian Coal Mining Association
- India Bulls Power Limited - India
- Siam City Cement PLC, Thailand
- Wilmar Investment Holdings
- Borneo Indobara - Indonesia
- Thai Mozambique Logistica
- Sindya Power Generating Company Private Ltd
- Energy Link Ltd, New Zealand
- Australian Coal Association
- Orica Mining Services - Indonesia
- Orica Australia Pty. Ltd.
- Rashtriya Ispat Nigam Limited - India
- Agrawal Coal Company - India
- Manunggal Multi Energi - Indonesia
- Banpu Public Company Limited - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Global Coal Blending Company Limited - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vizag Seaport Private Limited - India
- White Energy Company Limited
- TeaM Sual Corporation - Philippines
- Marubeni Corporation - India
- Jindal Steel & Power Ltd - India
- Cement Manufacturers Association - India
- Semirara Mining Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Maheswari Brothers Coal Limited - India
- Gujarat Sidhee Cement - India
- Bharathi Cement Corporation - India
- Metalloyd Limited - United Kingdom
- Africa Commodities Group - South Africa
- Kohat Cement Company Ltd. - Pakistan
- GAC Shipping (India) Pvt Ltd
- Global Green Power PLC Corporation, Philippines
- Lanco Infratech Ltd - India
- Heidelberg Cement - Germany
- Parliament of New Zealand
- Standard Chartered Bank - UAE
- Sical Logistics Limited - India
- Kapuas Tunggal Persada - Indonesia
- Straits Asia Resources Limited - Singapore
- Star Paper Mills Limited - India
- Videocon Industries ltd - India
- Eastern Coal Council - USA
- Renaissance Capital - South Africa
- Bangladesh Power Developement Board
- Leighton Contractors Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Iligan Light & Power Inc, Philippines
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