Home / Commodities (page 4)

Commodities

MMi Daily Iron Ore Index Report July 04 2022

DCE iron ore was was shocked and continued downward all the day.The main contract closed at 719.5,decreased of 5.82%. Traders are

Read More »

U.S. LNG exports fall to lowest since Feb after Freeport explosion -data

U.S. exports of liquefied natural gas (LNG) in June fell to the lowest in four months, data from Refinitiv Eikon showed, after the country’s second-largest LNG plant was shut by an explosion. LNG shipments from the United States to Europe had rocketed before the June 8 blast, which knocked out Freeport LNG. The plant had been exporting about 1.9 billion cubic feet per day. Partial operations could resume in October, the company said. A total of 90 LNG tankers departed from U.S. ports last month carrying 6.42 million tonnes, 11% ...

Read More »

French LNG imports slump 57% in June

French LNG imports slumped more than 57% month on month to about 1.06 million mt in June, with all four of the country’s regasification terminals under maintenance and following a fire at Freeport LNG’s Texas facility. About 55% of the June imports came from the US, around 16% from Algeria and nearly 14% from Russian, according to Xplore, LNG ship and volume tracking software from S&P Global Commodity Insights. France imported about 2.5 million mt of LNG in May, with 35% of the volumes coming from Russia, 33% from the ...

Read More »

Russia Changes Formula For Grain Export Taxes To Support Shipments

Sanctions-hit Russia has approved changes to the formula for calculating its grain export taxes to support shipment in the July-June marketing season, the agriculture ministry said on Friday. Russian farmers are expected to harvest a massive wheat crop this summer, bringing a record exportable surplus in the 2022/23 season. However, shipments are complicated by high export tax, a strong rouble and sanctions-inflated costs for freight and insurance. The new base price for calculating the wheat export tax is set at 15,000 roubles ($283.68 at the current rate) per tonne, the ...

Read More »

Ukraine war’s disruption sends agriculture input prices up nearly 10% in Q1 – Eurostat

Russia’s invasion of Ukraine has significantly disturbed global agricultural markets by sharply driving up prices of key products and inputs such as fertilizer and animal feed, the European Union’s statistics office said. Eurostat data showed that the average price of goods and services currently consumed in agriculture increased by 9.5% in the first quarter of 2022 compared with the last quarter of 2021, including a 21.2% hike for fertilizers and soil improvers, 17.4% for energy and lubricants and 9.2% for animal feed. The average price of agricultural output increased by ...

Read More »

U.S. farmers look for premium for remaining 2021 corn, soybeans

U.S. grain dealers will have to boost prices to pry farmers’ corn and soybeans from their storage bins as growers are already flush with cash and can afford to wait and see if the market rallies further. “I assume we are going to have to bid up throughout the summer,” a grain dealer in Ohio said. “Farmers are keeping their supplies pretty close to their chest.” Prices for corn and soybeans Cv1, Sv1 ratcheted up near record highs this spring as Russia’s invasion of Ukraine disrupted global shipping flows and ...

Read More »

Why miners won’t invest in the metals supercycle

The Big Miners, like Big Oil, are seriously flush with cash. I caught up with Julian Kettle, Vice Chair, Metals and Mining, for his thoughts on how an energy transition-led metals supercycle is evolving and what companies might do with all the money. Has the super cycle begun? Not yet. High metals prices in 2022 are still really about the post-pandemic bounce – demand recovery and tight supply chains exacerbated by the war in Ukraine. Even with China showing signs of economic recovery, we think there’s a downside risk to ...

Read More »

Supply Shortages Support Metals Prices Despite Demand Challenges

Ongoing supply constraints resulting from adverse weather conditions and the Russia-Ukraine war support bulk commodities, while weakening economic sentiment leads to mixed picture for base metals, says Fitch Ratings in a new report. Base metals continue to have very narrow supply-demand balances and prices are well supported. However, aluminium and copper could weaken further if declining GDP forecasts for China and the global economy hit market sentiment. Although prices could come off their peaks we expect them to stay well above Fitch’s mid-cycle assumptions. This would allow companies to generate ...

Read More »

China clears its backlog of stranded Australian coal — but don’t expect Beijing to buy more soon

China has finished clearing a backlog of stranded Australian coal amounting to over $1 billion, China customs data shows. But analysts say it’s not likely that Chinese coal buyers will start purchasing new supplies of Australian coal anytime soon. That’s because coal inventories have been building up, local production is higher, and there are now higher supplies from exporters such as Russia purchased at a discount. Since October, Beijing has been unloading cargoes of Australian coal stranded outside Chinese ports after the world’s second largest economy experienced one of its ...

Read More »

Why sentiment in industrial metals has been crumbling

Industrial metal prices have just seen their biggest quarter of falls in many years, with the market reflecting exposure to China’s COVID lockdowns, inflation, rising interest rates and stalled growth. The speed and magnitude of the fall was unexpected and partly reflects the sale of metal such as aluminium and nickel bought in anticipation of supply disruptions to material from Russia, which did not materialise, after it invaded Ukraine. “Metal supply is rising because it has been incentivised. Demand is slowing and the trend is for surpluses,” said Julian Kettle, ...

Read More »

New Capacity Roundup – June 2022

Here is a selection of the major steelmakers’ latest production and capacity investments announced this month. Europe British Steel, part of the Jingye Group, has announced that it will undertake a series of improvements at its Scunthorpe plant. A new £48 million billet caster, currently scheduled to enter service towards the year-end, will be installed at the facility. A further £32 million has been earmarked for the modernisation of the site’s wire rod mill, which is due to be commissioned in 2023. Czech Republic-based steelmaker, Třinecké železárny, has announced that ...

Read More »

No room for complacency in U.S. soybean market after acreage shocker

The U.S. government delivered one of the most bullish numbers possible to the soybean market on Thursday, but traders were uninspired, rejecting the initial spike in Chicago futures caused by the data. U.S. soybean and corn plantings kept alive their streak of being unpredictable as soy acres fell below the analyst range of guesses, wiping out the record prediction made back in March. CBOT November futures SX2 shed more than 1% and settled at $14.58 per bushel on Thursday, more than 50 cents off the session’s high. Continued economic stress ...

Read More »

State-run Petroecuador takes steps to lift force majeure on crude exports

Ecuador’s state oil company Petroecuador hopes to be able to lift a declaration of force majeure over crude exports by July 7, following an agreement between the government and indigenous leaders that put an end to over two weeks of protests, a company executive said. Petroecuador’s manager for international trade, Pablo Noboa, also told Reuters the company will honor a July oil supply contract with U.S. refiner Marathon Petroleum MPC.N while rescheduling pending cargoes to PetroChina 601857.SS and Shell SHEL.L for a total of 1.08 million barrels. “Wells will be ...

Read More »

India imposes windfall tax on oil producers, fuel exporters

India has imposed windfall tax on oil producers and refiners who have boosted product exports to gain from higher overseas margins as the government seeks to increase local supply of fuels to meet rising demand and increase federal revenues. New taxes along with export restrictions will curb fuel exports by refiners Reliance Industries and Nayara Energy, part-owned by Russia’s Rosneft, and could further tighten global oil product supplies and support prices. Their shares, along with those of oil producers Oil and Natural Gas Corp, Oil India Ltd and Vedanta Ltd ...

Read More »

Mongolia’s daily met coal shipments to China peak in June as lockdowns ease

The number of trucks carrying metallurgical coal into China in June rose to the highest level in 2022, as COVID-19 movement restrictions eased in the country, industry sources said June 30. Daily coal hauls to China reached the year’s peak at about 820 trucks in the week started June 27, the latest data from investment bank Founder CIFCO showed. Land border ports of Ganqimaodu and Mandura accounted for most of the truck traffic. The number of trucks has more than doubled since May, when the daily Mongolian coal haul to ...

Read More »

Recent Videos

Hellenic Shipping News Worldwide Online Daily Newspaper on Hellenic and International Shipping