International Grains Council cuts its forecast for 2020/21 global grains production

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The International Grains Council (IGC) cut its forecast for a record global grains production by 9 million tonnes to 2.21 billion tonnes in 2020/21. The council also trimmed its projection for consumption during the season. In its monthly update, the inter-governmental body cut its forecast for corn (maize) by 13 million tonnes, partially offset by […]

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Coal import prices in India volatile as China bans Australian import: India Ratings (Ind-Ra)

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The indefinite Chinese ban on Australian coal imports will keep import prices for India volatile over the near term, according to India Ratings and Research (Ind-Ra). For the Australia-origin coking coal import (comprising 67 per cent share in FY20) prices have remained subdued up to mid-December, providing respite to the spreads for domestic steel players […]

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Global zinc production to rebound next year – Fitch Solutions

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Global zinc mine output will recover in the coming years following several years of decline, Fitch Solutions forecasts in its latest industry report, adding that after contracting by almost 10% between 2013 and 2020, annual output will commence a multi-year uptrend starting in 2021. High prices by historical standards have encouraged investment into a pipeline of new […]

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Yearend – Brazil, Australia iron ore shipments set record; China spearheads other commodities

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The total volume of iron ore dispatched to global destinations from Australia and Brazil was 29.7 million tonnes in December, the highest since June 2019, according to a survey from Mysteel. Iron ore shipments from ten Australian ports bound for global destinations hit 21.7 million tonnes, and the tonnage shipped from Brazil’s nine ports to reach […]

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Global coal demand forecast to rise by 2.6% in 2021 before flattening out to 2025 – IEA

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A global economic recovery in 2021 is expected to drive a short-lived rebound in coal demand following the major drop this year triggered by the Covid-19 crisis, according to a new report from the International Energy Agency (IEA). However, there is little sign that the world’s coal consumption is set to decline substantially in the […]

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COMMENT – Tension between China and Australia over commodities trade being seen as former flexing its muscle

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Australia’s ties with top trade partner China soured in 2018 when it became the first country to publicly ban China’s Huawei from its 5G network, and worsened after Canberra called for an enquiry into the origins of the coronavirus. Tit-for-tat diplomatic reprisals have since followed, including raids on the homes of Chinese journalists in Australia, […]

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Australia’s Woodside Petroleum matches ONGC unit offer to buy FAR’s Sangomar stake in Senegal

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Australia’s Woodside Petroleum Ltd said it had exercised its right to match an offer by a unit of India’s ONGC Videsh Ltd (OVL) to buy FAR Ltd’s stake in the Sangomar oil project in Senegal. FAR Limited is an independent, Africa focussed, Australian Securites Exchange listed, oil and gas exploration and development company FAR had […]

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Asia’s slowing energy demand to hit coal producers

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Asia’s slowing energy demand growth will impact coal power producers the hardest with governments tightening environmental standards and introducing policies to drive renewable energy, Moody’s Investors Service said on Thursday. “For coal power producers, tariff schemes to compensate for lower dispatch volumes or strategies to diversify their energy mix away from coal power are increasingly important,” […]

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