Prices of rebar steel and coke dropped to two-month lows in China on Friday amid expectations that output could rise after Beijing scrapped blanket production cuts for winter. In its final anti-pollution plan for winter, China’s environment ministry said on Thursday it would allow local authorities...
Commodity News
China’s preference for long-term contracts affecting Indian iron-ore miners
Indian overseas shipment of high-grade iron-ore fines and lumps is facing significant risks as Chinese steel mills are increasingly looking at long term supply agreements. According to three miner-exporters based in the eastern Indian province of Odisha, the largest iron-ore producer in the...
Business Confidence Deteriorates in Several Emerging Steel Markets
Procurement activity in Brazil is lethargic. MEPS detects little evidence of an imminent upturn in end-user demand. New public works contracts are scarce. Bearish local traders stress that sales volumes are forecast to be stable, at best, in the short term. Consequently, they are unwilling to build...
Indonesia 2018 coal output target now around 507 mln T -Energy Ministry
Indonesia has increased its 2018 coal production target to around 507 million tonnes from a previous target of 485 million tonnes, the Energy Ministry said on Wednesday, a move that may add to downward pressure on prices for the fuel. Indonesia is the world’s top exporter of thermal coal, and it...
High Alumina Prices Underline Surprise Strength In Bulk Commodities
Investors rarely get excited about alumina, the material made from bauxite which eventually emerges as aluminum, but any commodity which more than doubles in price inside two-years is sure to have its fans even if the outlook is for a substantial price correction next year. Demand for alumina,...
GRAINS-U.S. soybeans ease on lack of Chinese demand, wheat at 1-week low
Chicago soybean futures lost ground on Thursday, snapping two sessions of gains as the market was weighed down by a lack of Chinese demand for U.S. supplies amid an escalating trade war between the two countries. Wheat fell to its lowest since Sept. 19 as rains improved the crop in top exporter...
Trump Attacks OPEC Again, Demanding Cash for Military Protection
President Donald Trump resumed his attacks on OPEC, saying the cartel is pushing oil prices too high and demanding that some members start paying the U.S. for military protection. “OPEC nations are, as usual, ripping off the rest of the world and I don’t like it,” Trump said in a speech to the...
Dalian iron ore hits one-week high on pre-holiday restocking
Chinese iron ore futures scaled a one-week high on Thursday as steel mills replenished stockpiles ahead of a week-long holiday although the limited price gains show China remains well supplied with the raw material. China’s financial markets will be closed on Oct. 1-5 for the National Day holiday....
https://www.hellenicshippingnews.com/dalian-iron-ore-hits-one-week-high-on-pre-holiday-restocking/
Steel, raw material prices drop in China before holiday
Chinese rebar steel futures fell more than 1 percent to a two-week low on Thursday, dragging down prices of steelmaking raw materials as activity in China slows down ahead of a week-long holiday. China’s financial markets will be closed on Oct. 1-5 for the National Day holiday. The most-active...
https://www.hellenicshippingnews.com/steel-raw-material-prices-drop-in-china-before-holiday/
Trade Drives Copper Price Volatility, Labor Concerns Subside
Copper prices are being influenced by a protracted US-China trade war as market concerns caused by labor contract negotiations subside, according to Fitch Ratings and CRU Group. Supply/demand dynamics suggest pricing should firm, but we anticipate price volatility could persist over the near term....
https://www.hellenicshippingnews.com/trade-drives-copper-price-volatility-labor-concerns-subside/