Chicago wheat futures rose on Monday to trade near the previous session’s highest since 2013 as tightening world supplies and strong demand buoyed the market. Corn and soybeans edged lower. The most-active wheat contract on the Chicago Board Of Trade (CBOT) gained 0.4% at $7.76 a bushel, as of 0347...
https://www.hellenicshippingnews.com/wheat-trades-near-multi-year-high-on-supply-woes-corn-dips/
The United States and European Union have agreed to end a festering dispute over U.S. steel and aluminum tariffs imposed by former President Donald Trump in 2018, removing an irritant in transatlantic relations and averting a spike in EU retaliatory tariffs, U.S. officials said on Saturday....
https://www.hellenicshippingnews.com/u-s-eu-end-trump-era-tariff-war-over-steel-and-aluminum/
Copper prices are due to extend their decline next year from record levels touched in 2021 as mine supply ramps up and economic growth tapers in top market China, a Reuters poll found. Benchmark copper soared to a record peak of $10,747.50 a tonne in May, but has retreated about 10% since then,...
https://www.hellenicshippingnews.com/copper-to-extend-slump-in-2022-as-mines-ramp-up-china-weakens/
On the coastline near India’s southern tip, workers toil on a pier carrying a conveyor belt that cuts a mile into the Indian Ocean where the azure waters are deep enough for ships to berth and unload huge cargoes of coal. The belt will carry millions of tonnes of coal each year to a giant …
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India’s coal ministry on Thursday said power projects’ coal fuel stocks are likely to reach six days’ buffer in around a week’s time. Mint reported on Wednesday that coal stocks at plant end have reached 9.02 million tonnes (mt) and are expected to reach stock levels to sustain six days of...
https://www.hellenicshippingnews.com/coal-stocks-likely-to-reach-6-days-buffer/
Brazilian miner Vale SA reported on Thursday a third-quarter net profit of $3.9 billion, significantly below analysts’ forecasts of $6.2 billion, due to lower iron ore prices and an impairment at its coal business. While Vale’s net income fell by almost half from the previous quarter, it surged 34%...
China’s top economic planner has required major coal-producing regions to rectify illegal coal storage in an effort to crack down on hoarding amid a prolonged coal shortage. The National Development and Reform Commission, China’s top economic planner, has urged responsible authorities in North China’s Shanxi Province, Northwest China’s Shaanxi Province and North China’s Inner Mongolia …
The post China’s Top Economic Planner Orders Closure Of Unlicensed Coal Storage Sites Amid Prolonged Shortage...
London copper prices were on track for their biggest monthly gain since April as low exchange inventories offset fears of weaker demand due to a power crisis in Asia and Europe and tumbling coal prices. Three-month copper on the London Metal Exchange CMCU3 fell 0.4% to $9,628 a tonne by 0632 GMT on...
https://www.hellenicshippingnews.com/copper-set-for-monthly-gain-on-tight-exchange-inventories/
China Iron and Steel Association on Monday said that the country’s annual steel output is expected to be lower this year than in 2020, a media report stated. The average daily output of crude steel was down 21.2 per cent year-on-year in September at around 2.5 million tonnes, Caixin Global reported...
https://www.hellenicshippingnews.com/chinas-steel-industrys-output-to-be-lower-in-2021/
Chicago wheat futures gained more ground on Friday, with the market on track for its biggest monthly rise since April, underpinned by strong demand and tightening world supplies. Corn is poised to end October with gains, while soybeans are down for the sixth month in a row. “Globally, the slow...