Prices of wheat, soybeans and corn dropped on Monday, pressured by a firmer U.S. dollar and as traders continued to monitor negotiations after a wheat shipment left Ukraine as part of the Black Sea grain deal. The most-active soybean contract on the Chicago Board of Trade (CBOT) Sv1 was down 0.9%...
Palm oil prices are likely to strengthen further as excessive rain in key producing countries curbs output, while demand increases for its use in food and biofuels, industry officials said. Palm oil prices have climbed by around a fifth this month but are still trading far below an all-time high...
To strengthen India’s energy security and to realise Atmanirbhar Bharat by replacing imported coal with domestically mined coal, the coal ministry has set a target to produce 1.3 billion tonne by FY25 and 1.5 billion tonne by FY30, an official statement said. “Keeping in view of increased coal...
https://www.hellenicshippingnews.com/india-coal-ministry-eyes-1-3-billion-tonne-production-by-fy25/
It’s not the first time the 145-year-old London Metal Exchange (LME) has found itself in crisis. There was the Tin Crisis of 1986, the Nickel Crisis of 1988 and what at the time was dubbed “The Sumitomo Scandal” but could now better be described as The 1996 Copper Crisis. This year, however, is...
https://www.hellenicshippingnews.com/london-metal-exchange-week-cocktails-canapes-and-crises/
US mulls Russian aluminium ban Metals have been mostly spared in the rounds of sanctions imposed on Russia that followed its invasion of Ukraine on 24 February. The news of a potential US ban has revived memories of the chaos in the aluminium market that followed when the US administration placed...
https://www.hellenicshippingnews.com/aluminium-market-braces-for-supply-disruptions/
More than 80% of the United States faces abnormally dry conditions, the biggest portion so far this century, and the recent escalation of dryness across several key grain states raises risks for the 2023 harvest. Extreme fall dryness is more concerning for the U.S. winter wheat crop since there is...
Our Materials Price Index (MPI) increased a modest 0.3% last week, a change from the large price declines witnessed in the three previous weeks. The increase was narrow with only five out of ten subcomponents rising. Despite last week’s rise the change in commodity prices is clear with the MPI...
https://www.hellenicshippingnews.com/weekly-pricing-pulse-commodity-prices-edge-up-slightly/
The chief executive of Vale SA said the Brazilian iron ore miner is reconsidering a near-term spin-off of its base metals business and an eventual public listing. The Brazilian miner had a longstanding plan to sell the unit that was still being considered as recently as 2021. But rather than...
https://www.hellenicshippingnews.com/vale-ceo-says-iron-ore-miner-will-spin-off-copper-nickel-unit/
An UNCTAD report published on 20 October shows how the Black Sea Grain Initiative signed in July 2022 to resume exports of Ukrainian grain via the Black Sea amid the ongoing war has offered hope and shown the power of trade in times of crisis. The report underlines why it’s critical to renew the...
https://www.hellenicshippingnews.com/black-sea-grain-initiative-offers-hope-shows-power-of-trade/
Talks on extending a July deal that resumed Ukraine Black Sea grain and fertilizer exports are not making much progress because Russian concerns are not being taken into proper account, Russia’s U.N. ambassador in Geneva said. Senior United Nations officials are negotiating with Russia to extend...
https://www.hellenicshippingnews.com/not-much-progress-in-black-sea-grain-deal-talks-russian-envoy/