Chinese steel-makers, in search of a way out of the U.S.-China trade war, have been on a blast furnace construction binge in Southeast Asia. As a result, the region’s capacity has swelled so significantly that the Southeast Asia Iron and Steel Institute has issued a warning: In the next few years, the region may face […]
Fitch’s country risk and industry research division said it had revised its forecast for 2020 up from US$2,100 per tonne to $2,200/t, driven by recovery in Chinese demand. Zinc prices fell by 17.3% over the first three months of 2020, but have since recovered to post new highs for the year. Three-month zinc averaged $2,121/t over […]
China’s appetite for iron ore is as strong as ever due to its phenomenal capacity of generating additional steel demand, in the midst of a worldwide recession, after bouncing back surprisingly fast from the economic slowdown triggered by the pandemic, reports Steel 360. IAC Desk
Copper once again cleared the psychologically important $3 a pound level last week on the back of falling inventories, booming Chinese demand, and pandemic hit supply from South America, the U.S,. and Africa. Read More Here IAC Desk
China has proposed a “soybean industry alliance” with Russia as it seeks to deepen economic ties with its strategic partner – despite its commitment to buy more of the oilseed from the US. Commerce Minister Zhong Shan called for closer cooperation with Russia in all areas of the soybean supply chain during a videoconference with […]
While China is facing structural challenges in the West, ties with the developing world are likely to remain growing. Therefore, the latest push by countries such as Australia to decouple could backfire in the long run as China will remain the most important industrial country in the global supply chain, reports OilPrice.com. IAC Desk
New Delhi plans to boost imports of coking coal, anthracite, and pulverised coal from Russia to 40 million tons per year. The supplies, worth around $4.5 billion, are intended to meet the needs of India’s steel industry, according to RT.com. IAC Desk
The aspiration of bp to transform to an integrated energy company will strengthen its hands to play a much bigger role in India’s transition toward cleaner fuels like gas, hydrogen and renewables, Sashi Mukundan, India president and senior president of bp group told S&P Global Platts in an exclusive interview. IAC Desk
Seabed mining for valuable materials like copper, zinc and lithium already takes place within countries’ marine territories. As soon as 2025, larger projects could start in international waters – areas more than 200 nautical miles from shore, beyond national jurisdictions, reports Marine Link. IAC Desk
Malaysia’s palm oil producers are embarking on a rare recruitment drive to hire locals and accelerating industry mechanisation as they grapple with a severe shortage of foreign labour due to the coronavirus pandemic, reports The Straits Times IAC Desk
