China’s imports of major commodities are often viewed through the prism of the performance of, and outlook for, the world’s second-biggest economy. But it’s probably more important to look at price trends when assessing the world’s biggest commodity importer’s inbound shipments of crude oil, liquefied natural gas (LNG), copper, iron ore and coal. The diverging fortunes of imports of these commodities in the first half of 2024 align more closely with price movements than it does with economic performance. This is especially the case for iron ore, the key raw ...

Ukraine’s grain exports through the Romanian Black Sea port of Constanta fell by 43.5% on the year in the first half to 4.24 million metric tons, the port authority said, as Kyiv has been able to rely on its own ports this year. Constanta port had been Ukraine’s main alternative route for grain since Russia’s full-scale invasion in 2022 and the port has seen an influx of European Union investment funds aimed at increasing its capacity. Grain arrives in Romania by road, rail and barge across the Danube river and ...

Prices of iron ore futures edged lower on Monday as investors and traders assessed mixed market signals from top consumer China following the end of its widely watched third plenum. The most-traded September iron ore contract on China’s Dalian Commodity Exchange (DCE) ended daytime trade 0.31% lower at 798.5 yuan ($109.79) a metric ton. The benchmark August iron ore contract SZZFQ4 on the Singapore Exchange fell 0.83% to $103.65 a ton, as of 0710 GMT. China lowered a key short-term policy rate and its benchmark lending rates in an attempt ...

Capesize It was only on Thursday that the Capesize 5TC climbed to positive territory and became closer to $25,000. But the correction or Friday eventually settled the week at $24,652. In the Pacific, there was more resistance from owners towards the end of the week, which pushed C5 to $9.725 in the end. Meanwhile, more coal cargoes from East Australia to China were fixed on timecharter trips according to report. Brazil to Qingdao had an active week for both first and second half of August loading. C3 stopped drifting for ...

Growing global demand for commodities and a sluggish newbuild market up until 2023 have set the stage for bullish growth in the bulker market in the coming years. Bulker owners are taking advantage of these favourable market conditions and starting to invest. International demand for dry cargo is increasing Although high interest rates and inflation have hampered the global economy over the past few years, demand for dry cargo remains strong, increasing by over 5% in 2023, led by some key commodities. “Demand for iron ore, which has the biggest ...

China’s soybean imports from Brazil rose 2.2% in June from a year earlier, data showed on Saturday, as Chinese buyers scooped up lower-priced South American beans. The world’s biggest soybean buyer imported 9.72 million metric tons of the oilseed from Brazil last month, compared with 9.51 million tons a year earlier, data from the General Administration of Customs showed. June arrivals from the United states reached 1.31 million tons, up more than four times from a year ago, although only about 12% of the total for the month. Total soybean ...

Iron ore is one of the worst performing commodities so far this year. Prices are down about 20% year-to-date as demand by the biggest consumer, China, continues to face headwinds from the property sector while the global seaborne market remains in a surplus. Subdued demand the key driver Looking ahead to the third quarter, fundamentals are still pointing to downside risks – Chinese steel demand is still muted on slowing construction and infrastructure activity amid the summer slowdown. The property sector constitutes the bulk of steel demand. Although all major ...

The Baltic Exchange’s main sea freight index, which tracks rates for ships ferrying dry bulk commodities, posted a weekly decline on Friday as rates for the capesize segment fell for the week. The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, lost 10 points, or 0.5%, to 1,902. The index dropped 4.3% for the week. The capesize index fell 34 points, or 1.1%, to 2,973, posting its biggest weekly decline since May 17. Average daily earnings for capesize vessels, which typically transport 150,000-ton cargoes, such ...

China is facing an oversupply of soybeans as record high purchases boost stockpiles at a time when animal feed demand remains subdued, with prices of products such as soyoil and soymeal set to sink even lower. The soybean surplus also threatens to curb China’s appetite for imports in the September-December period, the peak marketing season for U.S. beans, putting further pressure on prices Sv1 already near four-year lows, traders and analysts said. “The main issue is that demand for soybean products is not picking up,” said a Singapore-based trader at ...

Iron ore futures prices fell on Friday to post a weekly loss, as a lack of concrete stimulus from top consumer China and weak seasonal demand for steel weighed on the market. The most-traded September iron ore contract on China’s Dalian Commodity Exchange (DCE) DCIOcv1 ended daytime trade 0.19% lower at 804.5 yuan ($110.72) a metric ton, declining 2.54% from last Friday’s closing price. The contract hit an intraday low of 792.5 yuan, its weakest since June 26. The benchmark August iron ore SZZFQ4 on the Singapore Exchange was 0.99% ...

“During the first half of 2024, newbuild contracting in the dry bulk sector fell 34.2% y/y despite favourable market conditions. A 6.5% y/y increase in prices could be deterring contracting, yet in the second-hand market, where prices rose 15.2% y/y, the number of sales still increased 11.7% y/y. Other factors, such as limited shipyard availability and uncertainty on fuels and demand outlook could be contributing to this hesitation,” says Filipe Gouveia, Shipping Analyst at BIMCO. Shipyards are still occupied by orders for ships in other sectors. The orderbooks for container ...

This week’s chart illustrates the increase in the monthly volume of Ukrainian grain shipments during the first half of this year (left chart), following Russia’s withdrawal from the Black Sea Grain Initiative in the summer of 2023. Despite the heightened security risks and logistical challenges, Ukraine has managed to significantly boost its grain exports through alternative routes and increased efficiency. The data reveal that Spain and China have become the top destinations for Ukrainian grain, each accounting for 20% of the total exports, followed by Egypt with a 10% share ...

The Baltic Exchange’s main sea freight index, which tracks rates for ships ferrying dry bulk commodities, snapped a three-session losing streak on Thursday, helped by higher rates for capesize vessels. The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, gained 22 points, or 1.2%, to 1,912. The capesize index rose 67 points, or 2.3%, to 3,007, the first daily percentage gain since July 12. Average daily earnings for capesize vessels, which typically transport 150,000-ton cargoes, such as iron ore and coal, were up $562 at ...

ITOCHU Corporation, ClassNK, Nihon Shipyard Co., Ltd., and Maritime and Port Authority of Singapore (MPA) have signed a Memorandum of Understanding (MoU) regarding a joint study for the design and safety specifications of ammonia-fueled ships which are under development by ITOCHU and partners. Ammonia is advancing as a viable marine fuel solution for the decarbonization of the maritime sector. The discussion for a specification of ammonia-fueled ship with governmental body related to their operation is essential for a social implementation of ammonia-fueled ship. As one of parties of the MoU, ...

Dalian iron ore futures prices extended losses on Thursday, dragged down by the weakening steel market in top consumer China, while investors awaited details of likely stimulus measures from Beijing’sThird Plenum. The most-traded September iron ore contract on China’s Dalian Commodity Exchange (DCE) ended daytime trade0.9% lower at 811.5 yuan ($111.86) a metric ton. It hit an intraday low of 798 yuan a ton earlier in the session, its lowest since June 26. The benchmark August iron ore on the Singapore Exchange was, however, up 0.67% at $105.65a ton, as ...