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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, 05 January 22
INDONESIA WARNS COAL SUPPLY CRUNCH NOT OVER AS CHINA PRICES RALLY - REUTERS
Indonesia has warned that its coal supply situation remains critical, ahead of Wednesday’s (Jan 5) review of its export ban, unnerving global ...
Tuesday, 28 December 21
INDIA'S ADANI NEARS FIRST COAL SHIPMENT FROM SHUNNED AUSTRALIAN MINE - REUTERS
India’s Adani Group ADEL.NS is preparing to ship the first coal cargo from Australia’s most controversial mine, after battling a seven- ...
Thursday, 23 December 21
COAL TO STAY AS MAJOR SOURCE OF ENERGY IN FORESEEABLE FUTURE: JOSHI - BUSINESS STANDARD
Coal will stay as a major source of energy in the foreseeable future as it is an affordable source of energy with substantial reserve, Parliament w ...
Thursday, 23 December 21
ANNUAL U.S. COAL-FIRED ELECTRICITY GENERATION WILL INCREASE FOR THE FIRST TIME SINCE 2014 - EIA
From December 20 through December 30, Today in Energy will feature some of our favorite articles from 2021. Today’s article was originally pu ...
Thursday, 23 December 21
COAL DEMAND TO PEAK IN INDIA BY 2030, WILL BACK UP RENEWABLES: NITI REPORT - BUSINESS STANDARD
Coal will remain India’s mainstay energy source and the country will shape global demand this decade, two reports have said a month after the ...
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- Kartika Selabumi Mining - Indonesia
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- Semirara Mining and Power Corporation, Philippines
- Wilmar Investment Holdings
- New Zealand Coal & Carbon
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Development Corp, Philippines
- Jindal Steel & Power Ltd - India
- Tata Chemicals Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Dalmia Cement Bharat India
- Sree Jayajothi Cements Limited - India
- Pendopo Energi Batubara - Indonesia
- Straits Asia Resources Limited - Singapore
- Kohat Cement Company Ltd. - Pakistan
- IEA Clean Coal Centre - UK
- Leighton Contractors Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- McConnell Dowell - Australia
- Heidelberg Cement - Germany
- Posco Energy - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Port Waratah Coal Services - Australia
- Karaikal Port Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Directorate Of Revenue Intelligence - India
- Goldman Sachs - Singapore
- Merrill Lynch Commodities Europe
- Gujarat Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- Cigading International Bulk Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Mercuria Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Latin American Coal - Colombia
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- Miang Besar Coal Terminal - Indonesia
- Bharathi Cement Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Parry Sugars Refinery, India
- Therma Luzon, Inc, Philippines
- Wood Mackenzie - Singapore
- Vedanta Resources Plc - India
- Malabar Cements Ltd - India
- Mercator Lines Limited - India
- Star Paper Mills Limited - India
- Kapuas Tunggal Persada - Indonesia
- Indonesian Coal Mining Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aditya Birla Group - India
- Interocean Group of Companies - India
- Ceylon Electricity Board - Sri Lanka
- Riau Bara Harum - Indonesia
- PTC India Limited - India
- Timah Investasi Mineral - Indoneisa
- Indika Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Ministry of Transport, Egypt
- VISA Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Samtan Co., Ltd - South Korea
- Independent Power Producers Association of India
- Minerals Council of Australia
- Africa Commodities Group - South Africa
- ASAPP Information Group - India
- Energy Link Ltd, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Kideco Jaya Agung - Indonesia
- Salva Resources Pvt Ltd - India
- Meralco Power Generation, Philippines
- Sakthi Sugars Limited - India
- Price Waterhouse Coopers - Russia
- Central Java Power - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Intertek Mineral Services - Indonesia
- Parliament of New Zealand
- International Coal Ventures Pvt Ltd - India
- Central Electricity Authority - India
- Essar Steel Hazira Ltd - India
- Coalindo Energy - Indonesia
- Chamber of Mines of South Africa
- Uttam Galva Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Xindia Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement PLC, Thailand
- Australian Coal Association
- PNOC Exploration Corporation - Philippines
- Eastern Energy - Thailand
- India Bulls Power Limited - India
- Kobexindo Tractors - Indoneisa
- Vizag Seaport Private Limited - India
- GMR Energy Limited - India
- Toyota Tsusho Corporation, Japan
- CIMB Investment Bank - Malaysia
- Sical Logistics Limited - India
- Petron Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- European Bulk Services B.V. - Netherlands
- Romanian Commodities Exchange
- Ambuja Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Siam City Cement - Thailand
- Deloitte Consulting - India
- Kalimantan Lumbung Energi - Indonesia
- South Luzon Thermal Energy Corporation
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indogreen Group - Indonesia
- Antam Resourcindo - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Coastal Gujarat Power Limited - India
- Commonwealth Bank - Australia
- Aboitiz Power Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Billiton Holdings Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Sindya Power Generating Company Private Ltd
- Coal and Oil Company - UAE
- Baramulti Group, Indonesia
- Global Green Power PLC Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Semirara Mining Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Grasim Industreis Ltd - India
- CNBM International Corporation - China
- PowerSource Philippines DevCo
- Ministry of Mines - Canada
- IHS Mccloskey Coal Group - USA
- OPG Power Generation Pvt Ltd - India
- Thai Mozambique Logistica
- Trasteel International SA, Italy
- Madhucon Powers Ltd - India
- SMG Consultants - Indonesia
- Medco Energi Mining Internasional
- Bangladesh Power Developement Board
- Carbofer General Trading SA - India
- Indo Tambangraya Megah - Indonesia
- Binh Thuan Hamico - Vietnam
- Kepco SPC Power Corporation, Philippines
- Electricity Authority, New Zealand
- Attock Cement Pakistan Limited
- Agrawal Coal Company - India
- Standard Chartered Bank - UAE
- Metalloyd Limited - United Kingdom
- Global Business Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Oldendorff Carriers - Singapore
- Electricity Generating Authority of Thailand
- Bhushan Steel Limited - India
- Sojitz Corporation - Japan
- Petrochimia International Co. Ltd.- Taiwan
- Anglo American - United Kingdom
- Ministry of Finance - Indonesia
- Marubeni Corporation - India
- Rio Tinto Coal - Australia
- White Energy Company Limited
- Makarim & Taira - Indonesia
- Larsen & Toubro Limited - India
- Lanco Infratech Ltd - India
- Altura Mining Limited, Indonesia
- Eastern Coal Council - USA
- Mjunction Services Limited - India
- Chettinad Cement Corporation Ltd - India
- Australian Commodity Traders Exchange
- The Treasury - Australian Government
- Power Finance Corporation Ltd., India
- Banpu Public Company Limited - Thailand
- Simpson Spence & Young - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- San Jose City I Power Corp, Philippines
- Gujarat Sidhee Cement - India
- Edison Trading Spa - Italy
- Maheswari Brothers Coal Limited - India
- Mintek Dendrill Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Meenaskhi Energy Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Tamil Nadu electricity Board
- Ind-Barath Power Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Renaissance Capital - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- ICICI Bank Limited - India
- MS Steel International - UAE
- Singapore Mercantile Exchange
- Sarangani Energy Corporation, Philippines
- Orica Mining Services - Indonesia
- GVK Power & Infra Limited - India
- SMC Global Power, Philippines
- Bulk Trading Sa - Switzerland
- Karbindo Abesyapradhi - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Savvy Resources Ltd - HongKong
- Indian Oil Corporation Limited
- Economic Council, Georgia
- Bukit Baiduri Energy - Indonesia
- The State Trading Corporation of India Ltd
- Orica Australia Pty. Ltd.
- GN Power Mariveles Coal Plant, Philippines
- Bhatia International Limited - India
- Planning Commission, India
- The University of Queensland
- Indian Energy Exchange, India
- Borneo Indobara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Videocon Industries ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Formosa Plastics Group - Taiwan
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- Cement Manufacturers Association - India
- London Commodity Brokers - England
- SN Aboitiz Power Inc, Philippines
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