Category Archives: General News

India likely to remain net importer of iron ore in FY16

India is likely to remain a net importer of iron ore in 2015-16 as the falling international prices might encourage steel majors to continue import of key steel-making raw material through the current year. However, the quantity of imports may … Continue reading

Posted in General News, Local News | Leave a comment

China iron ore futures hit upward daily limit as mills restock

Chinese iron ore futures rose for a third straight day to hit their upward daily limit on Friday and were on track for a second weekly gain as mills in the world’s top buyer stepped up buying. Benchmark iron ore … Continue reading

Posted in General News | Leave a comment

Platts Analysis of U.S. EIA Data: U.S. crude oil stocks rose 5.315 million barrels last week

U.S. commercial crude oil stocks rose 5.315 million barrels to 489.002 million barrels during the week ended April 17, U.S. Energy Information Administration (EIA) data showed. Analysts surveyed Monday expected a 2.6 million-barrel build. Refinery demand eased the week ended … Continue reading

Posted in General News | Leave a comment

Asian LNG Price Rally Stalls Despite Plant Outages

Plant outages in the Middle East and Pacific basin failed to re-inject tautness into an abundantly supplied market as March’s rally in LNG spot prices collapsed in early April. Mild spring weather and the ample availability of short-term contractual supplies … Continue reading

Posted in Energy News, General News | Leave a comment

Oil, Iron Ore, Coal Routs to Deepen as Merchant Eyes $40 Prices

The routs in crude oil, iron ore and coal probably will extend to $40, according to Merchant Commodity Fund, which returned 59 percent last year. Rising output as global economic growth falters means more losses for the commodities which slid … Continue reading

Posted in General News, Shipping News | Leave a comment

THERMAL COAL-Australian coal prices jump 10 percent as storm halts shipments

Australian coal cargo prices soared 10 percent this week after a huge storm hit the country’s east coast, forcing the Newcastle export terminal to stop all ship movements, while meteorologists have warned that another storm was gathering off the coast. … Continue reading

Posted in General News | Leave a comment

Australia’s Iron ore exports shrink as demand blamed for price collapse

Australian iron ore exports almost certainly shrank in the first three months of 2015, suggesting the 28 per cent fall in iron ore prices over the same period was influenced more by weak demand in China than supply growth from … Continue reading

Posted in General News, Shipping News | Leave a comment

Dalian iron ore drops further as Chinese mills cap stockpiles

Iron ore futures in China slipped for a second session on Tuesday, reflecting persistent pressure from a well supplied market as Chinese steel mills limit inventories of the raw material on expectations prices would fall further. Weaker futures could pressure … Continue reading

Posted in General News | Leave a comment

Iran wants OPEC to pave way for its extra oil production when sanctions lifted

Members of the Organization of the Petroleum Exporting Countries (OPEC) should prepare for extra Iranian crude production when Western sanctions on Tehran are lifted, Iran’s oil minister was quoted on Tuesday by state news agency IRNA as saying. “We expect … Continue reading

Posted in General News | Leave a comment

Saudi Crude Exports Drop Amid Price Cut to Defend Share

Saudi Arabia’s crude exports dropped from an 11-month high in February when the world’s biggest oil shipper took steps to boost demand and defend its market share. Exports fell to 7.35 million barrels a day from 7.47 million in January, … Continue reading

Posted in General News | Leave a comment

Asian grain mills stick with containers despite higher cost

Rapid growth in the use of containers to ship grains and oilseeds to Southeast Asia could take a step back this year after a fall in bulk freight rates to record lows, although smaller mills will mostly stick with containers, … Continue reading

Posted in General News, Shipping News | Leave a comment

China economic stimulus may do little for commodities: Russell

It used to be a fairly safe bet that weak Chinese growth numbers would spark government stimulus measures, thereby boosting commodity import demand and prices. While the soft first quarter gross domestic product (GDP) numbers may well result in a … Continue reading

Posted in General News | Leave a comment

OPEC oil output surge boosts surplus, despite higher demand

OPEC said its oil output surged in March, adding to a global glut, despite more evidence that the producer group’s strategy of letting prices fall to hurt other producers is taking effect. OPEC’s report may reinforce the perception that major … Continue reading

Posted in General News | Leave a comment

India: Iron ore exports from Goa unlikely to resume soon

Various factors like ’steep’ duty, upcoming monsoon season and pending regulatory permissions are the causes. Iron ore exports from Goa are not likely to resume in near future due to various factors like ’steep’ duty, upcoming monsoon season and pending … Continue reading

Posted in General News, Local News | Leave a comment

Iron ore eyes second best week this year, but outlook still bleak

Spot iron ore prices are set to post their biggest weekly gain since early January, although an early-week rally has fizzled as investor focus returned to plentiful global supply. Iron ore futures were flat to lower on Friday after sharp … Continue reading

Posted in General News | Leave a comment

Moody’s lowers iron-ore and met coal price forecasts, markets to remain under pressure to 2016

Moody’s Investors Service expected iron-ore and metallurgical (met) coal prices to remain under pressure through at least 2016, prompting it to lower its price expectations for both commodities. The firm fingered slower steel output growth in China and rampant oversupply, … Continue reading

Posted in General News | Leave a comment

World’s Lowest Cost Iron Ore Miner Turns Screw on Rivals

Rio Tinto Group Chief Executive Officer Sam Walsh is fast becoming the worst nightmare of rival iron-ore producers starved of cash. Iron ore prices have slumped by more than half in a year on a deepening global supply glut. That’s … Continue reading

Posted in General News | Leave a comment

US energy imports and exports to come into balance

The United States has been a net importer of energy since the 1950s. But the new projections by EIA signals U.S. energy imports and exports may come into balance in coming years. The United States is currently an exporter of … Continue reading

Posted in General News | Leave a comment

India to overtake China as biggest thermal coal importer

India is set to overtake China as the biggest importer of power-station coal, emerging as the leader of a clutch of regional nations that miners including Glencore Plc and BHP Billiton Ltd can tap for new orders. Indian thermal-coal imports … Continue reading

Posted in General News, Local News, Shipping News | Leave a comment

South Korean refiners raise imports of Russian crude oil to fill storage tanks

South Korean oil refiners have increased their imports of Russian crude oil despite relative higher prices as they sought to fill storage tanks to take advantage of a contango in the market. The country’s top oil refiner SK Innovation imported … Continue reading

Posted in General News | Leave a comment

Platts Survey: OPEC Pumps 30.72 Million Barrels of Crude Oil Per Day in March

Oil production from the Organization of the Petroleum Exporting Countries (OPEC) totaled 30.72 million barrels per day (b/d) in March, up 800,000 b/d from February, and the highest monthly volume since November 2012, according to the latest Platts survey of … Continue reading

Posted in General News | Leave a comment

India: Odisha approves new price formula for iron ore supply

Faced with lukewarm response to its bid to pre-empt 50 per cent of iron ore for local end-use industries, the state government has come up with a new pricing formula to ease worries for the steel industries. Despite the reservation … Continue reading

Posted in General News, Local News | Leave a comment

Indian power plants thermal coal stocks jump 39% on-year to new record: CEA

Combined stocks of thermal coal at 100 Indian power plants climbed 39% on the year to a new record high of 27.5 million mt Wednesday, enough supply for 18 days of coal burn, according to data released by India’s Central … Continue reading

Posted in Energy News, General News, Local News | Leave a comment

Iron-Ore’s Collapse Claims Major Australian Casualty

The sharp fall in iron-ore prices claimed a major casualty in Australia whenAtlas Iron Ltd. said it would shutter all its mines and halt exports to Asia. Atlas was worth nearly 4 billion Australian dollars (US$3.1 billion) as recently as … Continue reading

Posted in General News | Leave a comment