Interest in MEPS International’s 12-month forecasts surged as the importance of an expertly-compiled market outlook was highlighted by a sharp decline in hot rolled coil prices – a marked turnaround from increases on either side of the New Year period. MEPS has forecast that the Europe average hot...
https://www.hellenicshippingnews.com/steel-buyers-focus-on-forecasts-after-price-u-turns/
Prices of most base metals climbed on Thursday, lifted by enhanced risk appetite after the U.S. central bank indicated it would stick with its interest rate cut plans for this year. Three-month copper on the London Metal Exchange (LME) CMCU3 was up 1.4% to $9,051 per metric ton by 0415 GMT, while...
https://www.hellenicshippingnews.com/base-metals-up-as-fed-rate-cut-outlook-lifts-risk-appetite/
Leading Indian steel producers, including JSW Steel Ltd JSTL.NS and Tata Steel Ltd TISC.NS, are expected to invest billions in a record capacity increase to benefit from rising domestic demand in one of the world’s fastest growing economies. A spurt in economic activity and a revamp of broader...
China is falling short when it comes to decarbonising its huge steel industry, with slowing demand, low recycling rates and lingering overcapacity concerns hindering the transition towards lower-emission production, researchers said on Tuesday. The global steel industry is responsible for around 8%...
Chicago soybean futures rose on Wednesday, supported by traders unwinding short positions, although a rapidly advancing harvest bumper crop in Brazil curbed gains. Wheat fell for the first time in three sessions, while corn lost ground. The most-active soybean contract on the Chicago Board of Trade...
https://www.hellenicshippingnews.com/soybeans-tick-up-on-short-covering-brazilian-harvest-weighs/
Crude steel output in China, the world’s dominant producer, is poised to slide in March from year-ago levels as mills delayed restarts or started maintenance after the February Lunar New Year holiday amid lacklustre demand, analysts said. Output in March, which typically sees strong demand as...
Indonesia has approved coal production quotas totalling 922.14 million metric tons for 2024, Bambang Suswantono, a senior official at the mining ministry said on Tuesday. The production approval was above the target of 710 million tons for this year. Indonesia often reports higher-than-targeted...
Upcoming planned maintenance outages at various domestic US steelmakers are expected to have a muted effect on prices amid a recent round of mill-enforced price hikes. From March to June, various domestic mills will be undergoing planned maintenance outages, which will take roughly 371,290 st of...
The Indian government is planning to aggressively procure wheat to replenish its stocks at state-run warehouses, officials with the Food Corporation of India said. However, a likely rise in government’s procurement may also lead to supply tightness in domestic markets of India, traders said. The...
The copper market has awoken from its year-long slumber. London Metal Exchange (LME) copper CMCU3 surged by 3.1% on Wednesday, breaking out of its long-standing range. The move extended on Thursday morning to an eleven-month high of $8,976.50 per metric ton. The trigger for the price break-out is...
https://www.hellenicshippingnews.com/raw-materials-squeeze-jolts-copper-out-of-its-torpor-andy-home/