China’s construction steel rebar prices fell for a fourth straight day on Thursday to touch their lowest in three weeks, as investors fretted about slowing manufacturing growth despite promises from top decision makers to support the economy. The Caixin/Markit Manufacturing Purchasing Managers’...
https://www.hellenicshippingnews.com/shanghai-steel-falls-for-4th-day-as-factory-sector-stalls/
According to an International Copper Study Group (ICSG) report released earlier this month, global copper production through the first seven months of the year was up 4.5% compared with the first seven months of 2017. By volume, copper production increased by 500,000 tons, according to the report,...
Supply options for large exporters of steel, such as those in China and Russia, are becoming limited, owing to existing trade barriers, implemented by many authorities around the world. As a consequence, steelmakers are scouring the globe, for new destinations, in which to sell their excess...
Australian mining giant Fortescue says trade tensions and slowing economic growth in China have not dampened demand for iron ore, the raw steelmaking ingredient, with Chinese steel production running at an annualised rate of nearly a billion tonnes in October. Elizabeth Gaines, chief executive of...
https://www.hellenicshippingnews.com/china-iron-ore-demand-strong-despite-trade-spat-fortescue/
Chicago wheat futures rose for a second straight session on Thursday with prices underpinned by lower output in key exporting countries, which is expected to boost demand for U.S. supplies. Soybeans slid, snapping a two-session rising streak as the Sino-U.S. trade war curbs U.S. shipments of the...
MEPS forecasts that world crude stainless steel output will reach an all-time high of 51.75 million tonnes, in 2018. This would represent a 7.6 percent increase on the previous record figure, set last year. MEPS expects continued growth in global production, in 2019. A new peak volume of 54.2...
https://www.hellenicshippingnews.com/strong-growth-predicted-for-global-stainless-steel-production/
China’s manufacturing industry might have slowed slightly this month but its construction sector could be in the first stages of a government-sponsored boom if a 20% rise in the price of iron ore over the past three months is a guide. Because it is only used to make steel, iron ore is a first mover...
U.S. corn futures edged lower on Wednesday as friendly weather was expected to see farmers advance harvesting, pushing prices to a five-day low. Wheat fell for a second consecutive session, while soybeans were little changed. The most active corn futures on the Chicago Board Of Trade were down 0.1...
https://www.hellenicshippingnews.com/grains-corn-hits-5-day-low-on-advance-harvest-pressure/
The United States urged European Union governments to reflect on whether it was really in their interest for the EU to go ahead with a trade dispute over U.S. metals tariffs, and said it was hopeful of settling the issue with Mexico and Canada. U.S. Ambassador Dennis Shea told the WTO’s monthly...
Russian wheat export prices fell last week due to intensified competition with U.S. wheat for supplies to Egypt, the world’s largest importer and the top buyer of Russian wheat, analysts said. Chicago wheat prices, the global benchmark, had been falling last week until Friday when they jumped as...