Brazilian miner Vale VALE3.SA, one of the world’s largest iron ore producers, said on Thursday its second-quarter net profit soared to $2.77 billion, triple the year-earlier period and above analyst estimates as sales jumped. Analysts polled by LSEG were expecting a $1.70 billion net profit. The...
https://www.hellenicshippingnews.com/brazils-vale-says-q2-net-profit-triples-iron-ore-sales-up/
Iron ore futures prices lost further ground on Thursday, weighed by strong global supply and top consumer China’s persistently weak steel market, although hints of heavier monetary stimulus helped limit losses. The most-traded September iron ore contract on China’s Dalian Commodity Exchange (DCE)...
U.S. spring wheat crops in northwest and north-central North Dakota are expected to produce the highest yields since at least 1994, the Wheat Quality Council said on an annual tour on Wednesday. Crop scouts estimated the average hard red spring wheat yield at 53.7 bushels per acre, up from 45.7...
London copper fell further on Thursday to trade below the $9,000 per-metric-ton level for the first time since early April, as concerns about demand in top consumer China weighed on the market. Three-month copper on the London Metal Exchange CMCU3 fell 1.9% to $8,933.50 per ton by 0242 GMT, marking...
https://www.hellenicshippingnews.com/copper-falls-below-9000-level-on-china-demand-concerns/
The only U.S. cobalt mine sits fallow in the northern Idaho woods, a mothballed hunk of steel and dirt that is too expensive for its owner to operate because Chinese rivals have flooded global markets with cheap supplies of the bluish metal used in electric vehicle batteries and electronics....
Coal-fired power plants generated 59.6% of China’s total electricity output during the opening half of 2024, the first time on record that coal produced less than 60% of the country’s total electricity during that period. China’s coal-fired generation from January to June was 2,793.5 terawatt hours...
Dalian iron ore futures prices fell for the fourth consecutive session on Wednesday, weighed down by a weakening steel market and lingering concerns about demand in top consumer China. The most-traded September iron ore contract on China’s Dalian Commodity Exchange (DCE) ended daytime trade 1.65%...
Scouts on the first day of an annual U.S. crop tour on Tuesday projected spring wheat in southern and east-central North Dakota will produce the highest yields in tour records dating to 1994. The Wheat Quality Council tour said participants estimated an average hard red spring wheat yield of 52.5...
This report is part of the S&P Global Commodity Insights’ Metals Trade Review series, where we dig through datasets and digest some of the key trends in iron ore, metallurgical coal, copper , alumina, cobalt , lithium , nickel and steel and scrap. We also explore what the next few months could...
Copper prices slipped again on Wednesday, and were hovering around a three-and-a-half month low hit in the previous session, amid demand concerns in top consumer China and a risk-off sentiment. Three-month copper on the London Metal Exchange CMCU3 was down 0.1% at $9,161 per metric ton by 0656 GMT,...