India is under a three-week lockdown from 25 March to contain the spread of the coronavirus outbreak. Businesses are shut, and the supply chain is disrupted. Industries are either closed or operating at sub-optimal utilisation. Wood Mackenzie principal analyst Sandeep Kalia weighs in on what this...
https://www.hellenicshippingnews.com/indias-bulks-supply-chain-takes-a-hit-during-lockdown/
Supply tightness made the seaborne metallurgical coal market extremely resilient in the first quarter – until prices came under pressure in March as the coronavirus pandemic forced multiple countries into lockdown. Now there is growing consensus that the met coal market will hit a key turning point...
Iron ore futures in China jumped on Thursday on restocking demand as steel inventories dropped again this week, while a recovery in profits at mills further lifted purchases of the steelmaking ingredient. The most-traded iron ore futures on the Dalian Commodity Exchange, for September delivery,...
https://www.hellenicshippingnews.com/china-iron-ore-futures-surge-as-mills-restock-raw-materials/
Noble Group Holdings Ltd (Noble) has cut jobs in its base metals unit following coronavirus-led market disruption, a first step in broader cuts likely to be announced in a strategic review later this month, multiple sources aware of the matter said. Noble, which took over assets of the...
Chicago wheat futures rose on Thursday as the market took a breather after falling for two straight sessions, although gains were capped on expectations of a large harvest in the United States. Corn edged higher, recouping most of the losses from the previous session, as traders squared positions...
https://www.hellenicshippingnews.com/wheat-firms-gains-capped-by-supply-hopes-corn-recovers/
Figures for the steel industry are expected to continue to decline in the new scenario of the health crisis and its economic effects. February results of crude steel production show a 6% reduction compared to the same month of 2019, 4.8 million tons (Mt). At 3.4 Mt, rolled steel production was 2%...
https://www.hellenicshippingnews.com/steel-consumption-falls-in-latin-america-facing-the-pandemic/
China’s benchmark power coal price fell by 11 yuan (about 1.42 U.S. dollars) per tonne during the past week. The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of coal prices in north China’s major ports, stood at 535 yuan per tonne Wednesday, a drop of 11 yuan week on week, according to...
https://www.hellenicshippingnews.com/chinas-benchmark-power-coal-price-falls-11-yuan-per-tonne/
China and other countries could be planning to build more coal plants to stimulate their economies in the wake of the novel coronavirus pandemic but nearly half of global coal plants will run at a loss this year, research showed on Wednesday. China has over 1,000 gigawatts (GW) of coal-fired power,...
Owing to unprecedented lockdown in much of Europe, the US and across the globe, the world is currently experiencing considerably lower economic activity, which, in turn, significantly reduces commodity consumption, says ratings agency Fitch Ratings. As a result, it expects global gross domestic...
U.S. wheat futures fell for a second straight session on Wednesday as expectations for a bumper U.S. production weighed on prices. FUNDAMENTALS * The most active wheat futures on the Chicago Board Of Trade were down 0.5% at $5.46-1/4 a bushel by 0230 GMT, having closed down 1.2% on Tuesday. * The...
https://www.hellenicshippingnews.com/wheat-falls-for-second-straight-session-on-u-s-crops-outlook/