Prices of most base metals rose on Thursday, as a softer dollar and the prospects of slower pace of U.S. rate hikes and further China stimulus measures lifted sentiment. Three-month copper on the London Metal Exchange CMCU3 was up 1.4% at $7,745 a tonne, as of 0448 GMT, speeding up a rally seen...
Figures from worldsteel show that global crude steel output came to 158.1 million tonnes in June – down 5.9% compared with the same month in 2021. Total outturn for the first half of the year is 949.4 million tonnes. The restrictions associated with tackling Covid-19 severely affected the Chinese...
https://www.hellenicshippingnews.com/global-crude-steel-production-fails-to-recover-in-june/
Chicago soybean futures rose for a fifth consecutive session on Thursday to their highest in more than two weeks, as hot and dry weather conditions expected in parts of the U.S. Midwest threaten to reduce yields. Wheat gained 1.3% while corn rose 0.9%. “Dry weather is beginning to impact the U.S....
https://www.hellenicshippingnews.com/soybeans-jump-over-1-to-two-week-high-as-u-s-crop-faces-heat/
The executive director of South Africa’s Presidential Commission on Climate Change called the country’s coal industry “delusional” on Wednesday, saying the market for the fossil fuel is going to dwindle rapidly in the next decade. South Africa, which gets most of its electricity from coal-fired...
Glencore has sold its stake in Yancoal Australia YAL.AX in a block trade worth A$422 million ($293 million), according to two sources with direct knowledge of the matter. The deal involved 84.5 million shares sold at A$5 each, added the sources, who could not be named as the information had not yet...
Malaysian palm oil futures regained earlier losses and ended the afternoon trade higher on Wednesday to track a rebound in U.S. soy oil and helped by a weaker ringgit. The benchmark palm oil contract for October delivery on the Bursa Malaysia Derivatives Exchange rose 0.98% to 3,824 ringgit...
https://www.hellenicshippingnews.com/palm-oil-futures-reverse-course-to-track-u-s-soy-oil/
Chicago soybeans futures hit a two-week high while corn hit a one-week high on Wednesday as renewed concerns over hot and dry weather in parts of the U.S. Midwest continued to support the market. Wheat extended gains on growing doubts that an agreement to reopen maritime grain exports out of...
https://www.hellenicshippingnews.com/soybeans-corn-hit-week-highs-on-u-s-crop-woes/
Copper prices steadied on Wednesday, buoyed by hopes of more support measures from top consumer China, while investors refrained from making big bets ahead of a U.S. central bank interest rate decision. Three-month copper on the London Metal Exchange CMCU3 was up 0.2% at $7,547.50 a tonne, as of...
https://www.hellenicshippingnews.com/copper-holds-steady-as-investors-focus-on-fed-outcome/
Indonesian thermal coal miners are mulling lowering their production targets for 2022 because of unavailability of heavy equipment and unseasonal rains, sources told S&P Global Commodity Insights July 26. “We are discussing a revision of the production plan that we submitted to the government to...
Rocky trade relations between the United States and China have recently taken a back seat to the conflict between major grain exporters Ukraine and Russia, but U.S. officials fanned the flames on Friday, accusing Beijing of stockpiling grain amid a global food crisis. That criticism, however, is a...