Chinese rebar futures slipped on Monday after reaching an eight-session high in the previous session, as traders opted to wait and see if the fragile pace of a recovery in demand for the construction material can be sustained this week. Prices of iron ore and other steelmaking inputs in China, the...
https://www.hellenicshippingnews.com/shanghai-rebar-slips-on-fragile-china-demand-recovery/
Malaysian palm oil futures fell more than 8% on Monday to hit their lowest in 15 months, after a leading industry analyst warned that prices would plunge by more than 30% by the end of this year due to ample supply and weaker demand. The benchmark palm oil contract FCPOc3 for December delivery on...
https://www.hellenicshippingnews.com/palm-slumps-to-15-month-low-after-price-warning-from-analyst/
European seaborne thermal coal demand is projected to increase 14% or 12 million metric tonnes (Mt) this year to 98 Mt as it grapples with the current energy crisis. But this will be a short-lived bump and provide no significant opportunities to expand existing coal infrastructure, as global demand...
https://www.hellenicshippingnews.com/14-increase-in-european-coal-demand-to-be-short-term-trend/
Argentina is forecast to receive rain in key wheat-growing regions over Sept. 25-Oct. 1, but severe dryness and frost have already hammered the prospects of the current crop, potentially reducing availability to regular buyers in Africa and Asia. No heavy rainfall was forecast in the current Sept....
Few would blame the metals sector if it set aside decarbonization efforts while navigating the impact of geopolitical uncertainty, supply chain disruptions and inflationary concerns that have shaken global commodities markets this year. But the opposite has been true, particularly in Europe....
https://www.hellenicshippingnews.com/low-carbon-still-a-high-priority-for-metals-markets/
Spiralling energy costs have forced steel makers to cut output across Europe, threatening mass plant shutdowns some warn could be permanent in a sector that employs more than 300,000 and contributes tens of billions of euros to the region’s economy. Even with four wind turbines and over 50,000...
Chicago wheat futures extended losses on Monday, with prices hitting a one-week low as fears of a global economic downturn and expectations of a record crop in Russia weighed on the market. Corn and soybean futures slid on pressure from dry weather aiding the U.S. harvest. “The prime movers were...
The International Grains Council (IGC) raised its forecast for 2022/23 global wheat production, partly reflecting an upward revision for the crop in Russia. In its monthly update, the inter-governmental body saw global wheat production rising to 792 million tonnes in 2022/23, up from a previous...
https://www.hellenicshippingnews.com/igc-raises-forecast-for-2022-23-global-wheat-crop/
Yunnan province cuts supply Aluminium smelters in Southwest China’s Yunnan province, which accounts for 11% of China’s aluminium output, have been required by the government to reduce their operating rates due to hydropower shortages in the drought-stricken province. The smelters have been ordered...
https://www.hellenicshippingnews.com/aluminium-supply-woes-keep-growing-as-china-orders-output-cuts/
Ukraine’s 2022 grain harvest could total between 54.1 to 55.7 million tonnes compared with a record 86 million tonnes due to the Russian invasion which has reduced the harvested area, analyst APK-Inform said on Saturday. The consultancy said in a report that the harvest could include 19 million...
https://www.hellenicshippingnews.com/analyst-apk-inform-raises-ukraines-2022-grain-crop-forecast/