Category Archives: General News

Asian seaborne iron ore price rebounds as strong buying interest resurfaces

The seaborne iron ore market reversed losses Thursday, as an influx of buying activity suddenly emerged in the spot market. Platts assessed the 62% Fe Iron Ore Index at $116.25/dry mt CFR North China Thursday, up $1.50/dmt from Wednesday. A … Continue reading

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India’s dependence on imported edible oil to hit new record

India’s dependence on imported edible oil is set to hit new record this year despite increase in oil seed output this year. Increasing direct consumption of oil seeds including soybean, mustard seed and ground nut reduced their availability forcrushing. Consequently, edible oil production from … Continue reading

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Iron Ore Slump Forecast as StanChart Recommends Bets on Losses

Iron ore prices are set to slump in the second half as more steel companies in China will probably go bankrupt, hurting demand in the world’s largest user just as supply expands, according to Standard Chartered Plc. Investors should sell … Continue reading

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China rebar, iron ore extend losses on weak demand outlook

Chinese steel and iron ore futures extended losses on Tuesday, weighed down by a tepid pick-up in demand for the two commodities in the world’s top consumer. Demand for metals traditionally improves in the second quarter as construction and manufacturing … Continue reading

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Kuwait Sees Crude Production Rising Amid Improved Extraction

Kuwait plans to increase oil output 23 percent by 2020 as improvements in how crude can be extracted allow the third-largest producer in OPEC to pump more. The country will boost supply to 4 million barrels a day from about … Continue reading

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Iron ore to price lower, averaging $115/dmt in 2014: Standard Bank

Iron ore prices are likely to drop to $115/dry mt CFR China this year, lower than Q1′s $120.68/dmt average, forcing as much as 70-80 million mt/year of high-cost Chinese supplies to shut, Standard Bank said Monday. Iron ore reference prices … Continue reading

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China March commodity imports resilient despite slowing economy

China’s imports of iron ore and copper soared in March from the previous month in anticipation of higher seasonal demand in the world’s top metals consumer, though crude oil shipments dropped after three months of high inbound volumes. The double-digit … Continue reading

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India becomes net steel exporter after 6 yrs

India became net steel exporter in 2013-14 after a gap of six years and is likely to maintain the momentum in 2014-15 as producers are looking to dock more overseas shipment to tide over subdued domestic consumption. Total steel exports … Continue reading

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WTI Oil Rises to Five-Week High on Consumer Sentiment

West Texas Intermediate crude climbed to a five-week high as U.S. consumer confidence rose in April while gasoline demand grew. Brent’s premium to WTI shrank. WTI’s weekly advance was the biggest this year. The Thomson Reuters/University of Michigan preliminary index of sentiment climbed to … Continue reading

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Iron-Ore Bear View of China Inventory Seen Overdone by Macquarie

Bearish interpretations of iron-ore stockpiles in Chinese ports are overdone, Macquarie Group Ltd. wrote in a report today, citing an analysis of inventory data at steel mills, ore miners and in ports. While data show a “substantial rise” in port … Continue reading

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India: Iron ore exports likely to double in FY15

Iron ore exports from India are likely to exceed 25 million tonnes in 2014-15, a growth of over 60% compared to last year. In 2013-14, iron ore exports clocked 15.13 million tonnes, a decline of 19% over the previous year. … Continue reading

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China Plans Ban on Imports of Coal With High Ash, High Sulfur

China plans to ban imports of coal with high-ash and high-sulfur content as the nation seeks to limit the dirtiest fuels to fight pollution. The world’s largest coal consumer will encourage imports of higher-quality supplies, according to Ren Lixin, the … Continue reading

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China’s implied oil demand (refinery throughput and net product imports) reached a record 10.6 mb/d in February, up 12% m/m and 4.3% y/y.

China Oil demand is expected to face headwinds as economy struggles to overcome a slowdown amidst targetted stimulus measures by the government in the past weeks, according to Barclays. China’s implied oil demand (refinery throughput and net product imports) reached … Continue reading

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Brazil LNG imports hit new record high amid drought

Imports of LNG to Brazil reached a record high in March at 1.504 million cubic meters (692,051 mt of LNG or 32.35 Bcf of gas), up 75% from the previous 12-month moving average as the country faces severe drought conditions. … Continue reading

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Iron ore eyes best week since August, fragile outlook

Iron ore is set to end the week with its biggest gain in more than seven months as firmer steel prices in top market China encouraged buyers, with Shanghai rebar futures rising more than 1 percent on Friday to post … Continue reading

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Asian gas buyers trying to break out of rigid market structure

;Asian gas and power companies are starting to pair up for joint purchases of LNG after more ambitious efforts to form a regional group to win lower prices and less rigid contracts have stalled. Japan, India, South Korea and other … Continue reading

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Indian Steelmakers Cut Prices; Schumer, Nucor Still Want Steel Import Duties

Another week of import duty talk and price cuts did not have much effect on the steel markets. U.S. Sen. Charles Schumer visited Nucor Steel in Auburn, New York, last Friday to announce his efforts to combat the dumping of … Continue reading

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Iron ore at one-month high, firmer steel market spurs buyers

Iron ore prices climbed to their highest in a month as a firmer steel market in top consumer China helped ease cash flow worries among mills, prodding them to buy the raw material. Iron ore has recovered more than 12 … Continue reading

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Japan April-June crude steel output may dip 3.8 pct y/y on tax hike-METI

Japan’s crude steel output is expected to fall 3.8 percent in the April-June quarter from a year earlier, hurt by a recent hike in sales tax, the country’s trade and industry ministry said on Wednesday. The decline, which comes after … Continue reading

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West African oil exports to Asia set to rise in April

West African oil exports to Asia are set to rise to 2.05 million barrels per day (bpd) in April from 1.90 million bpd in March, a Reuters survey of traders showed on Monday. Exports to China were seen at 1.045 … Continue reading

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