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Feature: UK set for mining ‘revival’ post-Brexit, if overseas investment flows: developers

UK mining is set for growth after being largely forgotten as a investment destination for decades, mine developers said this week. However, much of the latest funding is coming from abroad, notably Canada, and not from the UK. Investor interest in new or disused mine projects – both in industrial minerals and metals – is resurfacing after laying dormant for 30 years, amid signals that “metals are the facilitator of the transition to a zero-carbon economy,” said Jeremy Wrathall, founder and CEO of Cornish Lithium, told S&P Global Platts in ...

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Commodity Tracker: 7 charts to watch this week

This week’s pick of energy and commodity market trends kicks off with EU biofuels demand prospects and a window of opportunity for Australian crude oil grades. US and European gas market dynamics and Brazilian corn prices are also in the sights of S&P Global Platts news editors this week. 1. Renewables goals boost global biofuels demand What’s happening? In 2020, each EU member country will need to meet specific national renewable energy targets set by the European Commission. One route is to blend more biofuels into road fuels, with more ...

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Tokyo Steel to hold product prices steady for 4th straight month

Tokyo Steel Manufacturing Co Ltd said it would keep steel product prices unchanged for a fourth straight month in February, as it awaited confirmation that a recovery in steel markets would continue both at home and abroad. Japan’s top electric-arc furnace steelmaker held prices steady for all of its steel products in January, including its main H-shaped beams. For February, prices for steel bars, including rebar, will remain at 62,000 yen ($563) a tonne while H-shaped beams will also stay at 83,000 yen a tonne. “Overseas steel prices have been ...

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Iron ore – 5 things to watch in 2020

Wood Mackenzie identifies five trends that will impact the iron ore industry. Slower demand growth (especially in China) and a decent recovery in seaborne supply will continue to feature prominently in the iron ore industry in 2020. Prices will fall, with annual average price forecast for 2020 at $80/t. Vale – giving back (some of) what it took away in 2019 In 2020, Vale could once again be the biggest swing factor for iron ore, but this time in the opposite direction. Research director Paul Gray said: “Wood Mackenzie forecasts ...

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China publishes new standards for copper and aluminum scrap

China’s market regulator published new standards for high-grade copper scrap and aluminum scrap metal on Sunday, shedding some light on what material will be allowed into the country from the second half of this year. Details of the new standards, which take effect on July 1, have been highly anticipated by metals traders eager to know if they will still be able to ship their scrap into China, the world’s biggest metals consumer, as it bolsters its environmental crackdown on imports of solid waste. Beijing has set a target of ...

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Thermal coal prices set for recovery this year as oversupply tightens

Thermal coal prices are expected to recover this year after losing around a third of their value last year as demand from some south-east Asian countries grows and oversupply tightens due to financing constraints for new capacity. Investors widely anticipate the slow demise of coal use due to policies encouraging cleaner natural gas and renewable energy generation, as well as public pressure on companies to fight climate change and increasing divestment from coal assets. However, the shorter-term outlook is for a resurgence in prices as oversupply is reduced. “As 2020 ...

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China’s steel consumption to increase 2% on year in 2020: CISA

China’s finished steel consumption will increase 2% on the year to 889.8 million mt in 2020, driven by demand from construction sector, according to China Iron & Steel Association estimates released last week. The total steel consumption rose by 6% on the year in 2019 to 875.3 million mt, according to CISA. Steel market sources considered a further 2% rise in steel demand in 2020 as decent growth, considering domestic steel demand in 2019 had been strong enough to absorb most of China’s incremental steel production. CISA warned that China’s ...

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China iron ore extends rally in thin pre-holiday trade

Iron ore futures in China closed higher on Monday as supply concerns and improved outlook for steel demand boosted prices, though trading was light ahead of the week-long Lunar New Year break. The Dalian Commodity Exchange’s most-traded iron ore contract, expiring in May, ended 0.5% higher at 670 yuan ($97.82) a tonne. Supply issues have also pushed spot prices higher, with the benchmark 62% iron-content ore settling at $96.70 a tonne on Friday, the strongest since Sept. 17 last year, data from SteelHome consultancy showed. SH-CCN-IRNOR62 Imported iron ore stocked ...

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China rebar inventories extended rise amid thin trades

Inventories of construction steel rebar in China have increased for seven straight weeks as construction demand dwindled two weeks prior to the Chinese New Year holiday, even as rebar production shrank to the lowest level this year amid falling profits. Transactions in the spot rebar market were close to stagnant as traders exited the market for holidays. There were only a few traders that continued their winter stockpiling. This saw social inventories of rebar accelerating the increase last week. The buildup in rebar stocks at steel mills was faster than ...

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Reading the tea leaves: China and commodities in 2020

China’s voracious demand for commodities and energy continued unabated in 2019 despite a slowing economy and uncertain external environment. But what will be on the agenda in 2020 as the economy, environment and energy security come into greater focus? Here are are some key trends to watch over the coming year and what they mean for commodities. Slower growth The recent signing of the first phase of a trade deal between China and the US may herald a truce between the world’s two largest economies and give markets something to ...

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NMDC announces change in iron ore prices

With effect from 19 January 2020 NMDC announced the change in prices of Iron Ore with effect from 19 January 2020 as under – Lump Ore (65.5%, 6-40 mm) – Rs 3200 per ton Fines (64%, -10 mm) – Rs 2910 per ton. Note: The above FOR prices are excluding Royalty, DMF, NMET, Cess, Forest Permit Fee and other taxes. Source: Capital Market

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UAE- Gem of an investment: Time to buy precious commodities before they get pricier

It’s the right time to buy precious commodities, according to the Dubai Gold and Jewellery Group (DGJG), the umbrella group representing the local industry, with industry executives believing that there is more potential of the price going up in the near to medium term. They noted that central banks and funds will continue to buy the yellow metal as geopolitical tensions will keep the commodity’s price higher. Tawhid Abdullah, chairman of the DGJG, predicted that the price of gold will range from $1,450-$1,700 in the short to medium term. “People ...

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The Dog That Didn’t Bark: What Soybean Prices Say About Trade Deal

In an 1892 mystery story by Sir Arthur Conan Doyle, Sherlock Holmes figures out what happened to a missing racehorse named Silver Blade by observing a dog that didn’t bark in the night. Likewise, sometimes what doesn’t happen in markets can be a clue to something significant. In the case of the recently signed U.S. trade deal with China, the dogs have been notably quiet in Chicago’s agricultural futures markets. Despite China’s commitment to buy more American farm products, prices haven’t gone up — a sign that investors and traders ...

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Most volatile commodities of 2019: what are they and where to next?

Commodities are real natural materials that can be bought or sold on the exchanges. They have natural restrictions that affect pricing, while financial instruments can be created from figures on a spreadsheet. However, like any other world market, commodity prices fluctuate in response to political, financial, or any other relevant events with high economic significance. For example, during this fall, the most volatile commodities were mainly affected by the US-China trade war. Commodity market review: what has actually been happening? Over the past few years, commodity prices have been a ...

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China speeds up infrastructure funding, should support steel demand

China has accelerated the issuance of local government special bonds since the start of January, in an effort to speed up infrastructure construction to offset downward pressure on China’s economic growth. Steel demand generated from the infrastructure sector is expected to pick up after China’s Lunar New Year holidays over January 24-30, with stronger momentum than in early 2019. As of January 14, China has issued Yuan 334.465 billion ($48.7 billion) of local government special bonds, compared with Yuan 141.2 billion issued in the whole month of January 2019, according ...

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