Record harvests of wheat and barley are expected to outweigh a poorer maize crop to lift world total grains — wheat and coarse grains — production by 40m t in 2019/20, to 2,177m, only modestly below the all-time peak in 2016/17, the International Grains Council (IGC) said in its latest monthly report. Consumption is forecast to climb […]
India’s move to open up commercial coal mining can halve the annual expenditure incurred on importing non-coking coal because of substitution through domestic production. In fiscal 2020, India imported an estimated 180-190 million tonne (MT) of non-coking coal costing over Rs 90,000 crore. The government earlier this month approved the liberalisation of coal mining by […]
The U.S. Department of Agriculture (USDA) raised global 2018/19 wheat supplies by 6.7 million tons on both increased production and beginning stocks, with the vast majority of this change stemming from the updated production data released by China that made significant output changes from 2007/08 through 2017/18. In addition, the USDA also raised China’s 2018/19 […]
As India recovers from the twin shocks of demonetisation and the goods and services tax (GST) implementation, its steel demand is expected to move back to a higher growth track, worldsteel said in its latest short range outlook, adding that the demand will be supported by improving investment and infrastructure programs. However, it warned that […]
Steel demand in developed economies is expected to increase by 1.0% in 2018 and 1.2% in 2019, worldsteel said in its latest short range outlook. US steel demand grew strongly in 2017, benefiting from strong consumer spending and business investment supported by tax and regulatory changes and fiscal stimulus, although growth in the construction sector […]
Global steel demand will reach 1,657.9 Mt in 2018, an increase of 3.9 percent over last year, and further rise by 1.4 percent to 1,68 Mt in 2019, worldsteel forecast in its latest short range outlook. “In 2018, global steel demand continued to show resilience supported by the recovery in investment activities in developed economies […]
Iranian and Venezuelan oil production levels, along with the pace of US shale growth, will drive oil prices in the medium term, Fitch Ratings said in a note, adding that supply constraints at a time of steadily growing demand are leading the Brent price to spike above USD80/bbl. “We rate oil and gas (O&G) producers […]
The U.S. Department of Agriculture (USDA) said it was reducing global 2018/19 wheat supplies forecast, primarily on lower production forecasts for Australia and Russia. “Australia’s production is decreased 1.5 million tons to 18.5 million on continued dry conditions and possible frost damage. This would be Australia’s smallest production since 2007/08,” it said in its latest […]
The Indian government’s directive to the country’s three state-owned oil marketing companies (OMCs) to reduce petrol and diesel prices will have a negative impact on their profitability and credit metrics, Fitch Ratings said in a note. However, the ratings will be unaffected as they are driven by state support, it added. The ratings of Bharat […]
The UN food agency FAO has raised its forecast for this year’s global cereal production to 2 591 million tonnes, still 2.4 percent below the record high of 2017. Reduced rainfall in Australia and Canada are expected to lower wheat yields, which, however, should be offset by higher outputs in Algeria and the Russian Federation. […]
