New Delhi would without doubt be cheering Beijing’s crackdown on polluting steel mills towards the end of this week. The single action by China’s government has sent skyrocketing iron-ore prices crashing, which will translate into lower prices of the most important steel-making ingredient for Indian steel mills as well. New Delhi has been so troubled […]
China has chartered tankers that could deliver as much as 37 million barrels of crude oil from the United States next month, Bloomberg reports, citing data from the Census Bureau. This would be a record-high for China, despite the latest escalation between the two, and in accordance with its obligations under the trade deal closed last […]
Taiwan has detained a Chinese tanker for allegedly illegal entry into its territorial waters, Taiwanese media report, adding that the six-member crew has been arrested. Taiwan has stepped up coast guard patrols off the western coast of the country to limit the spread of the novel coronavirus. Media reports said that the crew of the Chinese […]
China-Pakistan Economic Corridor (CPEC) has announced establishing two large hydro projects and the refurbishment of the country’s colonial-era rail infrastructure in Pakistan. This hydro power project is a part of the 4,470 MW power projects China is constructing in Pakistan. China has already, completed nine power projects producing 5,320 MW of electricity worth $7.9 billion in […]
The latest International Energy Agency (IEA) report on the global natural gas market has forecast that global natural gas demand will drop by 4 per cent, or 150 billion cubic metres (bcm) in 2020 as consumption takes a hit from the economic impact of the novel coronavirus. The IEA forecasts a gradual recovery in demand […]
Copper and iron ore prices have held up surprisingly well as markets in the West belatedly come to grips with the coronavirus pandemic and China shifts focus from containment to rebuilding its economy following more than two months of inactivity. PRC Macro anticipates spending by Beijing of as much as $570 billion primarily focused on […]
Copper and iron ore prices surged this week on hopes that China, responsible for more than 70 per cent of the world’s seaborne iron ore trade and half the world’s copper consumption, will spend massively on infrastructure and manufacturing to revive an economy devastated by the coronavirus. Copper trading in New York climbed just short […]
Washington has set its terms for a trade deal with China, offering to suspend some tariffs on Chinese goods and cut others in exchange for Beijing buying more American farm goods, Reuters reported quoting US sources. Beijing’s silence, however, fuelled questions over whether the two sides can come to a truce in their bitter trade […]
China lifted its annual rare earth output quotas on Friday by 10 per cent to record-high levels for 2019, potentially easing fears the world’s dominant producer of the group of 17 prized minerals will restrict supply. Beijing in late May raised the prospect of weaponising its control of rare earths, used in everything from consumer […]
Data released on Monday showed Chinese steel output rebounded in August 2019, a rise of 9.3 per cent from the same month a year before to 87.3 million tonnes; not far off the record set in May this year, according to the World Steel Association. Chinese furnaces now produce 56 per cent of the world’s […]
