The Centre’s new regime wherein mines are being allocated via the auction route under a revenue-sharing model has come as a wind of change for the sector. With mines being bagged after quoting hefty premiums, industry players must push digitisation to optimise core processes and cut costs if they...
https://www.hellenicshippingnews.com/mining-digitisation-can-wait-no-longer/
In a reflection of growing demand, state-owned Coal India Ltd (CIL) has registered a 28.4% year-on-year growth in coal offtake for the first four months of the current financial year. “The company also clocked a robust 30.7% growth in supplies to power sector during April-July’21 with a whopping 39...
https://www.hellenicshippingnews.com/coal-india-apr-jul-offtake-rises-28-4-year-on-year/
Inventory levels across the US stainless steel sector are extraordinarily low. While steel usage rebounded quickly following the pandemic-induced slump, steel production resumed at a much more gradual pace. This resulted in a substantial imbalance between supply and demand developing in the market....
https://www.hellenicshippingnews.com/shortages-continue-to-disrupt-us-stainless-steel-market/
Copper prices rose on Monday as a weak dollar and a potential strike at Chile’s Escondida, the world’s biggest copper mine, supported prices. Three-month copper on the London Metal Exchange CMCU3 rose 0.3% to $9,760.50 a tonne by 0627 GMT, while the most-traded September contract on the Shanghai...
https://www.hellenicshippingnews.com/copper-advances-on-weak-dollar-chile-supply-threat/
Chicago soybean futures slid for a second straight session on Monday, and corn ticked lower, pressured by rains in parts of the U.S. Midwest. Meanwhile, wheat rose on expectations of lower world output. “(Soybean and corn) prices in the futures market are easing a little but people are still...
https://www.hellenicshippingnews.com/soybeans-drop-for-2nd-session-on-improved-u-s-weather/
Malaysian palm oil futures fell nearly 5% to hit a more than one-week low on Monday, as weaker July exports and losses in competing oils on the Dalian and Chicago exchanges weighed on investor sentiment. The benchmark palm oil contract FCPOc3 for October delivery on the Bursa Malaysia Derivatives...
https://www.hellenicshippingnews.com/palm-oil-drops-over-4-on-lower-july-exports-profit-booking/
Executives at Brazilian iron ore miner Vale said July 29 they were “confident” the company will reach its 2021 iron ore production guidance as it will be aided in H2 by seasonal factors and mine capacity advances. Still, the company is currently operating at the lower range of the 315 million...
Steel import prices in the Europe, Middle East and Africa region could see an uplift following removal of value added tax rebates on Chinese exports of cold-rolled and coated steel from Aug. 1, market participants told S&P Global Platts July 29. As Chinese export volumes are expected to be limited...
China’s coal-fired power generators have seen profits evaporate amid surging domestic prices, with imports unable to provide much relief amid an ongoing unofficial ban on buying cargoes from major exporter Australia. Out of 10 listed coal-fired power companies, four reported losses and five others saw first-half profits plunge, according to a report on Chinese energy …
The post China’s coal-fired power companies struggle amid high prices, Australia ban first appeared on Hellenic Shipping News...
The European Commission on Friday raised its forecast of usable production of common wheat in European Union’s 27 member countries in 2021/22 to 127.7 million tonnes from 125.8 million estimated last month. That compared with a 2020/21 crop of 117.2 million tonnes, the Commission’s monthly supply...
https://www.hellenicshippingnews.com/eu-raises-2021-22-wheat-crop-forecast-to-127-7-mln-t/