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Egypt’s GASC seeks wheat in World Bank funded tender

Egypt’s General Authority for Supply Commodities announced a tender on Tuesday for the purchase of wheat within the framework of the Food Security and Resilience Support Program funded by the World Bank under Loan No. EG -9399 with at sight financing. The tender is for a quantity of 30,000, 40,000, 50,000, 55,000 or 60,000 tonnes, +/- 5% should the seller choose, from the last crop for supply C&F (cost and freight). Shipment from all origins specified by GASC will be during the period from Feb. 26 to March 10 and/or ...

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China hikes aluminium tariffs but export boom already over

China raised export tariffs on unwrought primary aluminium and alloy at the start of this year after a rare burst of export activity in the first part of 2022. The country, which was a huge importer of unwrought aluminium in both 2020 and 2021, briefly emerged as supplier of last resort, particularly to Europe, where multiple smelters curtailed operations due to high power prices. The tariff increases fit with China’s long-standing policy of encouraging exports of value-add aluminium products rather than raw metal. But it’s doubtful they would have made ...

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Russian piped gas exports to Europe falls 30% in January to new lows – data

Pipeline natural gas exports to Europe by Russian energy giant Gazprom have declined by almost 30% in January from December amid falling prices at the spot market, hitting a new monthly all-time low, Reuters calculations showed on Tuesday. Russian commodity exports have become increasingly politicised over the past years amid wider political tensions and have been the main focus for Western sanctions since last February when Moscow sent its troops into Ukraine. According to calculations, based on daily data of Russian gas exports via Ukraine and the TurkStream pipeline, Gazprom’s ...

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Iran’s iron ore exports at almost zero amid rising domestic use

Iran has cut its iron ore exports to almost zero in nearly a decade amid a major expansion in domestic steel manufacturing that has led to an increase in demand for ore. Head of the Iron Ore Association of Iran (IROPEX) Mehrdad Akbarian said on Thursday that iron ore exports had dropped to almost zero from more than 20 million metric tons (mt) recorded in 2013. Akbarian said the major drop in iron ore exports from Iran has come despite the fact that the country had more than doubled its ...

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First Australian coal cargoes since end of ban to enter China in February

China is set to receive at least two cargoes of Australian coal in early February, according to traders and shiptracking data, the first since an unofficial ban on imports in place since 2020 was lifted earlier this month. Coal traders will be paying attention to how easily the shipments pass customs for signs that the informal ban is truly over and in the hopes of sending more Australian coal to China. Australian thermal coal for power generation and metallurgical coal for steelmaking are favoured by Chinese consumers for their high-quality. ...

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Russian gas supply hit pushes India’s GAIL to scout for long-term LNG

GAIL (India) Ltd is scouting for long-term gas import deals and hopes to sign one contract shortly to make up for disrupted supplies from a former unit of Russian energy giant Gazprom, its head of finance said on Monday. India’s largest gas distributor reported a 93% decline in its December quarter net profit as it transmitted less gas locally due to a reduction in liquefied natural gas (LNG) supply from a deal with Gazprom Marketing and Singapore (GMTS). GAIL is in talks with Abu Dhabi National Oil Co (ADNOC) and ...

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China’s demand for Brazil corn concerns meat processors, lobby group says

The group said competition from Chinese buyers is already reducing local supplies and making corn used to feed poultry and pork an “overpriced” commodity. “Even with the sector being more prepared for negotiations and more attentive to its stocks and purchases, there is always competition from the international market,” Sindicarne said. “For 2023 the signs are worrying.” At Brazil’s southern port of Paranagua, for example, corn exports jumped to almost 570,000 tonnes through Jan. 29 driven by China. This corresponds to a 161% rise in volume compared with the whole ...

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Bangladesh seeks spot LNG cargo for first time in 8 months

Bangladesh is set to resume importing liquefied natural gas (LNG) from the spot market as it has sought a cargo for the first time in eight months, reports Bloomberg. The state-run Rupantarita Prakritik Gas Company Limited, also a company of the Bangladesh Oil, Gas and Mineral Resources Corporation (Petrobangla), is seeking to purchase a cargo on delivered ex-ship (DES) basis for 21-22 February delivery. The term DES requires a seller to deliver goods to a buyer at an agreed port of arrival. Petrobangla has initiated to resume importing spot LNG ...

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Indonesia 2023 coal exports forecast above 500 mln tonnes -minister

Indonesia plans to produce 695 million tonnes of coal this year and sees exports of 518 million tonnes, Energy and Mineral Resources Minister Arifin Tasrif said on Monday. That would be higher than Indonesia’s 2022 coal production of 687 million tonnes and exports of 494 million, he said. Production last year was higher than the production target of 663 million tonnes despite an export ban at the start of the year that caused some miners to hold back output and heavy rain flow that disrupted activities. Arifin expects that coal ...

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South Korea’s KOMIPO seeks one LNG cargo for March delivery – sources

South Korea’s Korea Midland Power Co (KOMIPO) is seeking one liquefied natural gas (LNG) cargo for delivery in March on a delivered ex-ship (DES) basis, said two industry sources. The company is seeking delivery of the cargo between March 21-23, and the tender closes on Feb. 1. Source: Reuters (Reporting by Emily Chow; Editing by Kim Coghill)

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IOCL, GAIL in talks with UAE’s ADNOC for long-term LNG contract

In a bid to secure India’s energy needs at affordable prices, state-run Indian Oil Corporation Ltd (IOCL) and GAIL are in talks with the UAE’s Abu Dhabi National Oil Company (ADNOC) for a long-term liquefied natural gas (LNG) supply contract. The talks are at a fairly advanced stage, according to India’s ambassador to the UAE Sunjay Sudhir. In fact, given UAE’s limited export capacity for natural gas at the moment, India is holding talks with the UAE to work out a mechanism for long-term offtake from an upcoming LNG plant ...

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Algeria tenders to buy nominal 50,000 tonnes durum wheat -traders

Algeria’s state grains agency OAIC has issued an international tender to purchase a nominal 50,000 tonnes of durum wheat, European traders said on Monday. The deadline for submissions of price offers in the tender is Tuesday, Jan. 31, with offers having to remain valid until Wednesday, Feb. 1, they said. Shipment is sought in three periods between Feb. 16-28, March 1-15 and March 16-31. Volumes in Algeria’s tenders are nominal and the country frequently purchases more than the volumes initially sought. Source: Reuters (Reporting by Michael Hogan, Editing by Louise ...

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Russian gasoline to be sent to Pakistan as EU import ban looms

Independent Russian oil refiner Forteinvest has clinched a deal that will see Russian gasoline sent to Pakistan by land for the first time, two industry sources said on Friday, as Russian refiners seek alternative markets for motor fuels days before an EU import ban. Forteinvest has sold to a trader an initial 1,000-tonne lot of gasoline from its Orsk plant for delivery to Pakistan and has more requests to supply gasoline, diesel and LPG to the country, the sources added. The refined products will be shipped from the Orsk refinery ...

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Recent bump in U.S. soy bookings eases forward sales pressure

U.S. soybean exports have been unusually strong so far this month and sales activity has ticked up in recent weeks despite a weaker outlook from the government. In line with most analyst ideas, the U.S. Department of Agriculture earlier this month reduced domestic 2022-23 export estimates for both soybeans and corn, the latter of which still may disappoint versus expectations. But soybeans are on a more positive track for now. As of Jan. 19, U.S. soybean sales for 2022-23 totaled 46.5 million tonnes, up 5% from a year earlier. USDA ...

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While Dr Copper waits for China, China buys more copper

Doctor Copper has started the new year with a fresh spring in his step as investors bet on a powerful demand boost from China’s post-COVID reopening. London Metal Exchange (LME) three-month metal is currently trading at $9,345, up 12% on the start of January, with funds jumping back into copper as a proxy for the China recovery story. Yet it’s not as if China, the world’s largest copper user, has been absent from the market. The country’s net imports of refined copper totalled 3.64 million tonnes last year, an increase ...

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