The European Commission lowered its forecast for the 2022/23 European Union wheat harvest on Friday, but maintained its projection for record EU exports as war disrupts supply from Ukraine. In monthly cereal supply and demand estimates, the Commission cut its outlook for usable production of common...
https://www.hellenicshippingnews.com/eu-cuts-2022-23-wheat-crop-forecast-still-sees-record-exports/
Prices for all steel products, including rebar, advanced sharply in March. The initial shock of Russia’s military action in Ukraine resulted in a spike in raw material expenditure. Disruption to CIS-origin pig iron imports and an escalation in scrap costs prompted a rise of almost 10 percent in...
https://www.hellenicshippingnews.com/us-rebar-prices-stabilise-amid-balanced-fundamentals/
Iraq expects wheat production to reach 2.5-3 million tonnes this season, which will be sufficient for supply to the end of year 2022, the deputy agriculture minister told Reuters on Friday. The ministries of agriculture and water resources will reduce the acreage that will be planted with rice for...
The global semiconductor shortage continues to curtail production at automakers around the world. New and ongoing Covid-related lockdowns in China are inhibiting already strained supply chains. The flow of material into the carmaking sector is decreasing, as suppliers’ facilities are required to close under strict virus containment measures. This is negatively affecting both the local …
The post Slowdown in global automotive sector drags on steel prices first appeared on Hellenic Shipping News...
https://www.hellenicshippingnews.com/slowdown-in-global-automotive-sector-drags-on-steel-prices/
The European Union is likely to suffer severe shortfalls in lithium, rare earths and other metals needed to cut carbon emissions, but recycling could help plug the gap from 2040, according to a study released in April. The issue has become even more critical due to the EU’s recent efforts to become...
China’s steel inventories hit a 13-month high April 20 as the country’s steel production continued to climb steadily in the wake of weak demand amid the latest COVID-19 resurgence. Domestic markets have a mixed steel demand outlook for the coming weeks, as pandemic uncertainty looms over the...
Australia’s wheat output is likely to decline sharply on the year in marketing year 2022-23 (October-September) due to an anticipated drop in sowing area and yield on account of rising fertilizer costs, the Canberra attache of the US Department of Agriculture’s Foreign Agricultural Services said. According to the report dated April 27, Australia’s wheat output …
The post Australia’s 2022-23 wheat output seen 20% lower on year to 29 million mt: USDA first appeared on Hellenic Shipping News...
China has removed import tariffs on various coal grades as part of its efforts to maintain adequate supplies amid global disruption caused by the Russia-Ukraine conflict, according to a government document seen by S&P Global Commodity Insights April 28. The tax cut will be effective from May 1,...
Chicago wheat futures eased on Friday, although the market was poised for a third straight monthly gain as tightening global supplies after Russia’s invasion of Ukraine underpinned prices. Corn was set for a fifth monthly gain as support stemmed from forecasts of more showers, which will further...
Thinning vegetable oil supplies have driven global prices to record levels this year, so Canadian farmers’ intentions to cut canola plantings this spring are not among helpful remedies. Canada was a top contributor to the supply squeeze last year as severe drought cut canola output to a 14-year...