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U.S. wants Qatar to challenge Russian gas in Europe -U.S. Official

The United States wants Qatar, the world’s top liquefied natural gas supplier, to challenge Russia’s gas dominance in Europe, a U.S. administration official said. Deputy U.S. Energy Secretary Dan Brouillette told Reuters that the United States is talking with Doha about supplying Europe with LNG as it wants Germany and other countries to import Qatari and U.S. gas rather than from Russia, which now accounts for 60 percent of German gas imports. The United States has warned German companies about possible sanctions over the Nord Stream 2 pipeline under construction ...

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Australia’s Queensland state exports record 223 mil mt coal in 2018

The Australian state of Queensland set a new record for exporting coal in 2018 with 223.2 million mt, eclipsing the previous 2016 record by 2 million mt, industry body the Queensland Resources Council said. “Countries around the world are using our metallurgical coal to make steel needed for building modern cities and our high quality thermal coal is delivering tomorrow’s energy needs through high efficiency, low emission coal-fired power plants,” QRC chief executive Ian Macfarlane said. “Queensland coal was exported to 30 different countries or territories,” he said. The export ...

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Iran expected to be able to export 1.5 mn oil bpd next year

The Iranian Parliament Research Center (IPRC) has predicted that Iran will be able to export 1.5 million of crude oil bpd at the price of $ 54 bpd in the upcoming Iranian of 1398 (begging on March 21, 2019). While the lawmakers in the Iranian Parliament are discussing the budget bill offered by the Iranian government for the next fiscal Iranian year of 1398, the Iranian Parliament Research Center (IPRC) said that total sources of income in the energy sector including crude oil and gas condensate, net exports of natural ...

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Vietnam’s coal export up in 2018

Vietnam exported roughly 2.4 million tons of coal worth 325 million U.S. dollars in 2018, mainly to Japan, South Korea, Thailand, India and Malaysia, posting respective year-on-year increases of 7.6 percent and 13.1 percent. Last month alone, Vietnam gained 30 million U.S. dollars from exporting 200,000 tons of coal, down 0.8 percent in value and down 22 percent in volume against December 2017, the Ministry of Industry and Trade said on Monday. Demand for coal in many Asian countries, including India, Indonesia, Pakistan and the Philippines will continue rising in ...

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Global aluminum deficit to persist in 2019: sources

The global aluminum market will remain short of supply despite bullish signs of demand and supply restrictions, market participants said Monday on a panel discussion at S&P Global Platts’ Aluminum Symposium in San Diego. Hydro Aluminum Metals USA expects demand to grow 2-3% this year because of continued growth in the transport segments being offset by a gradual slowdown in China and a moderated appetite in Europe and the US. On the other hand, supply should increase 3-4% based on the expected US restarts and Chinese ramp-ups. “This deficit situation ...

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Russian wheat follows global benchmarks higher amid strong demand

Russian wheat exports rose slightly in the first half of January on strong demand from a major buyer, an increase in global benchmarks and a stronger rouble, analysts said. Russia’s rouble has risen against the dollar in January, while Chicago benchmark wheat prices were driven higher by factors including expectations that thinning supplies in Russia would raise export opportunities for U.S. wheat. Black Sea prices for Russian wheat with 12.5 percent protein content and for delivery in January were $238 a tonne free on board (FOB) at the end of ...

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Chinese steel exports could remain low in 2019

Jefferies says Chinese steel exports are likely to remain low in 2019, but it is possible exports increase “modestly”. ** China’s exports unexpectedly fell the most in two years in December, pointing to further weakness in the economy in 2019 and deteriorating global demand ** Brokerage says fall in Chinese exports in 2018 despite Yuan’s depreciation and domestic market volatility offers “welcomed breathing room” to Western markets ** Jefferies says ArcelorMittal remains its preferred play on a “structurally improved” global steel market ** Brokerage says Thyssenkrupp and Voestalpine stand out ...

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Steel imports from China to Latin America grow 28% in the last six months

Exports of Chinese steel to the world – which includes rolled products (long, flat and seamless tubes), and derived steels (wire and welded pipes) – decreased 10% regarding the same period of 2017, in a total amount of 60.9 million tons (Mt). Of these, 55.4 Mt correspond to rolled products and 5.5 thousand tons to derived products. Latin America represented 11% of the total of Steel exports, increasing its participation by two points compared to Jan-Nov 2017, becoming the main destination of the Chinese Steel exports. In this way, South ...

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CME plans to launch e-auction for U.S. crude oil exports

CME Group saidit plans to launch an electronic auction platform with U.S. energy firm Enterprise Products Partners LP in March to sell U.S. spot crude oil export cargoes. The United States became the world’s largest oil producer last year as shale production hit new highs, encouraging exchanges and pricing agencies to launch new mechanisms to allow companies to price and hedge U.S. oil exports. Enterprise will offer light sweet crude oil from Midland, Texas, to be loaded at the Enterprise Houston Ship Channel (EHSC) terminal in the first auction scheduled ...

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Global metals trading volumes slide on macro uncertainty: Andy Home

Investors have fled the industrial metals markets as previous trading strategies have been overwhelmed by macro uncertainty. That’s the clear take-away from an analysis of last year’s trading volumes on the world’s three major exchanges. On the London Metal Exchange (LME), volume growth turned negative from July onwards, translating into only minimal trading growth over the year as a whole. The CME’s high-flying copper contract held out longer before seeing both volumes and open interest slide precipitously over the fourth quarter. As for the Shanghai Futures Exchange (ShFE), 2018 wasn’t ...

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Regional Steel Prices Returning To Near Normality

The global steel market appears to be returning to near normal levels of pricing. 2018 was a turbulent year for steel selling figures in all parts of the world but prices, in 2019, are expected to remain below the peak values recorded last year. Rapid steel price rises took place in North America during the first half of 2018. These were followed by substantial price reductions in the second half of the year. Similar, but less dramatic decreases in steel selling values took place in the European Union during the ...

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First U.S. crude cargoes head to China since trade breakthrough: sources

Three cargoes of U.S. crude are heading to China from the U.S. Gulf Coast, trade sources said on Monday, the first departures since late September and a 90-day pause in the two countries’ trade war that began last month. The vessels left Galveston, Texas, last month and are scheduled to arrive at Chinese ports between late January and early March, according to shipbrokers and vessel tracking data. The shipments mark a change since Chinese buyers largely began avoiding U.S. oil during the trade dispute that flared last summer. “It looks ...

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China’s trade data weak? Not if you look at commodities

Anybody reading the commentary on China’s December trade figures would be left with the impression of an economy increasingly losing momentum amid a dispute with the United States. It was reasonable for analysts to zero in on the 4.4 percent drop in China’s December exports from a year earlier, a huge miss when a rise of 3 percent had been forecast. Imports also surprised on the downside, dropping 7.6 percent in December, the biggest decline since July 2016. The numbers do point to weakness in the world’s second-largest economy, and ...

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China steel prices slip on demand concerns, but off lows

China’s steel futures came under pressure on Tuesday on renewed concerns over demand in the world’s top consumer, but managed to close above session’s lows on expectations of more government policy measures to stimulate a slowing economy. Prices retreated as more signs emerged that China’s economy will continue to slow down. Data on Monday showed the nation’s exports unexpectedly fell the most in two years in December, while imports also contracted, pointing to further weakness in the world’s second-largest economy in 2019 and deteriorating global demand. The state planner said ...

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Chinese steel producers’ profits surge as capacity slashed

Chinese steel producers saw their profits surge in the first 11 months of 2018 as the sector’s overcapacity was slashed amid the supply-side structural reform, according to an industry association. Data from the China Iron and Steel Association (CISA) showed the combined profits of its members’ enterprises jumped 63.54 percent year on year to 280.2 billion yuan (about 41.5 billion U.S. dollars) in the first 11 months of 2018. Their debt ratio declined to 65.74 percent by the end of November, down 3.39 percentage points from a year earlier, with ...

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