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Baltic Dry Index climbs to 1592 up 28 points

Today, Wednesday, August 10 2022, the Baltic Dry Index climbed by 28 points, reaching 1592 points.

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China’s plan to break foreign iron ore dependence — Mine more at home

The creation of China’s new state-owned iron ore giant — built to consolidate the nation’s mining investments and coordinate purchases of the key steelmaking input — is being felt everywhere from Simandou to Sydney. The idea is that China Mineral Resources Group, founded on July 19 with registered capital of 20 billion yuan ($3 billion), will centralize purchasing for state-owned steel-makers and traders to create a unified front in negotiations with foreign suppliers. It will also house overseas mining assets. The move is underpinned by China’s Iron Ore “Foundation Plan,” ...

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German coal importers expect flurry of shipments from September

Germany’s hard coal importers expect more shipments from next month when generators will seek to switch to more coal burning and away from Russian gas, but fear logistics problems could hamper deliveries. “Verein der Kohlenimporteure (VDKi) expects significant volumes increases in the monthly import figures from September onwards,” Alexander Bethe, the chairman of the German coal importers’ group, said in reply to an enquiry by Reuters. September could bring a 50% rise over May, Bethe said, when imports had been 2.35 million tonnes. Monthly coal receipts recorded last winter by ...

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Baltic index steady as lower rates for smaller vessels offset capesize gains

The Baltic Exchange’s main sea freight index was little changed on Tuesday as declines to multi-week lows in the panamax and supramax segments countered gains in capesize rates. The overall index, which factors in rates for capesize, panamax, and supramax shipping vessels, edged down two points to 1,564 points. The capesize index was up for the second session, gaining 45 points, or 3.1%, at 1,510 points. Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, were up $369 to $12,521. “The Pacific market ...

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Iron ore futures retreat as China demand woes back in focus

Dalian and Singapore iron ore futures fell on Tuesday as traders weighed fresh COVID-19 flare-ups in China and weak steel demand, particularly from the country’s ailing property sector. The most-traded iron ore, for delivery in January next year, on China’s Dalian Commodity Exchange DCIOcv1 was down 1% at 726 yuan ($107.53) a tonne, as of 0629 GMT. It hit its highest since Aug. 1 at 755 yuan earlier in the session. On the Singapore Exchange, the steelmaking ingredient’s front-month September contract SZZFU2 fell 1.1% to $110.40 a tonne, after advancing ...

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Baltic Dry Index falls to 1564 down 02 points

Today, Tuesday, August 09 2022 , the Baltic Dry Index decreased by 02 points, reaching 1564 points.

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Capesize gains snap Baltic index’s 10-session loss streak

The Baltic Exchange’s main sea freight index rose on Monday, snapping a 10-session losing streak, as capesize rates logged their best day in more than three weeks. The overall index, which factors in rates for capesize, panamax, and supramax shipping vessels, was up for the first time since July 22, edging up 6 points, or 0.4%, to 1,566 points. The capesize index gained 54 points, or 3.8%, at 1,465 points, logging its first rise in 11 sessions and its best day since July 15. Average daily earnings for capesizes, which ...

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China’s commodity imports mixed with weak crude, improving metals:

China’s imports of major commodities presented a mixed picture in July, with crude oil undeniably weak, but some signs of life in industrial metals such as copper and iron ore. The standout performer was coal, with arrivals jumping some 23.9% from the prior month, but this was likely driven by short-term factors and doesn’t alter the overall picture of a weaker trend in commodity imports so far this year. China, the world’s biggest crude buyer, imported 8.79 million barrels per day (bpd) in July, fractionally above June’s 8.72 million bpd, ...

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China’s July soybean imports slide amid poor crush margins, weaker demand

China’s soybean imports in July fell 9.1% from a year earlier, customs data showed on Sunday, as poor crushing margins and weaker consumption in the world’s largest buyer of the oilseed reduced appetite for shipments. China brought in 7.88 million tonnes of the oilseed in July, versus 8.67 million tonnes a year earlier, data from the General Administration of Customs showed on Sunday. The imports were also down 4.5% from a month ago. Soybean prices soared this year after bad weather hurt production in and exports from Brazil, China’s top ...

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India: Parliamentary  panel suggests phasing out of coal imports

The parliamentary standing committee on energy has said that the union ministries of power and coal should ensure optimum utilization of locally-produced coal through effective collaboration so that imports can be phased out over time. In its 26th report, the panel chaired by member of parliament Rajiv Ranjan Singh, said efforts made by both ministries led to a 56% drop in coal imports for blending in FY21, but higher international prices hit imported coal-based power plants. This led to increased demand for domestic coal, and consequently reduced domestic coal stocks ...

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Iron ore rises as improved China steel margins lift mood

Dalian and Singapore iron ore futures rose on Monday, extending their gains as improved steelmakers’ margins in China encouraged mills to gradually restart idled blast furnaces and boost imports of the steelmaking ingredient. Hopes that steel output curbs in top producer China to meet decarbonisation goals will be less strenuous in the second half of the year also supported iron ore prices. Iron ore’s most-traded January 2023 contract on China’s Dalian Commodity Exchange DCIOcv1ended daytime trade 4.3% higher at 737.50 yuan ($109.06) a tonne. It touched its highest since Aug. ...

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More Ukrainian grain comes to market as traders seek homes for cargoes

International and local traders started to offer more Ukrainian-origin grain for sale on Friday as news of the first shipment from the country since Russia’s invasion boosted confidence in a deal to unblock exports from its sea ports. Prices were discounted, with roughly 20 million tonnes of grain from last year’s crops still stuck in the country. Diplomatic efforts have focussed on finding a way to transport around 1.5 million tonnes of grain loaded on ships or housed in port storage and millions more in silos across the country, as ...

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Brazil soybean exports down 8,87% in first half of 2022 compared to 2021

Brazil shipped 55.1 million tons of soybeans in the first half of 2022, which is 8.87% less than in the same period of 2021 (60.5 million tons), according to the National Association of Cereal Exporters. (Anec). The decline is explained by lower shipments to China (main destination, with 41.6 million tons in 2021 and 36.9 million tons in 2022) and the Netherlands (4th largest destination, with 2.5 million tons in 2021 and 1.7 million tons in 2022), respectively, 11.2% and 32.2% less compared to 2021. Anec admits that in this ...

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Baltic Dry Index climbs to 1566 up 06 points

Today, Tuesday, August 08 2022, the Baltic Dry Index climbed by 06 points, reaching 1566 points.

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China’s July coal imports surge 24% to meet peak power load

China’s coal imports in July rose by nearly a quarter from June to near the highest levels so far this year as power generators increased purchases to provide for peak summer electricity demand. Arrivals of the fuel totalled 23.52 million tonnes last month, up sharply from 18.98 million tonnes in June but 22% lower than a year earlier, data issued by the General Administration of Customs showed on Sunday. Over the first seven months of the year, China imported 138.52 million tonnes of coal, down 18% on the same period ...

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