Fitch Ratings expects Brent crude oil prices to be around $45/barrel next year which would support a modest improvement in the credit metrics of most Chinese and south-east Asian national oil companies. The benchmark oil price was recently hovering at $41/barrel, but has since then rebounded to close to $45/barrel amid hopes of higher demand because […]
Year 2020 will be an unforgettable year in many aspects, and as for the global steel market, it is a year of investments and divestments, as while Tata Steel has been busy divesting from its steel assets outside India, China Baowu Steel Group (Baowu), China’s top steelmaker, has been intent on becoming the world’s top […]
China’s independent electric-arc-furnace (EAF) steel mills saw their capacity utilisation recover slightly last week, as the profit margins these EAF steelmakers are enjoying on their output have improved thanks to the strengthening of finished steel prices currently, market watchers said. As of November 12, the capacity utilisation rate of the 71 independent EAF steelmakers across […]
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,” […]
China has started buying small quantities of rice from the world’s largest exporter of the grain, India, whose shipments are set to hit a record this year, a top industry official said. Vinod Kaul, executive director of All India Rice Exporters Association, said in an interview that the orders for shipments have been placed recently. […]
China has suspended import of seafood products from an Indian company for a week starting from Friday last, after traces of COVID-19 were reportedly found on the outer packaging of some samples of frozen cuttlefish exported by the firm. China’s General Administration of Customs suspended the import of seafood products from an Indian company for […]
Sale of gold on the auspicious occasion of Dhanteras this year was 30 per cent more than the previous year. A staggering Rs 20,000 crore worth of gold was sold during the festival in 2020, according to the India Bullion and Jewellers Association (IBJA). According to IBJA data, the sale of gold on Dhanteras across the country this year was about […]
Production of two of the world’s main grain staples — wheat and rice — as well as coarse grains are set to increase this year despite the challenges posed by covid, the Food And Agriculture Organisation (FAO) said in its biannual report on global food markets. World rice production is set to reach 508.7 million tons […]
Despite higher steel output, China’s steel scrap consumption decreased by 1% or 1.58 million tonnes on year to 155.2 million tonnes in the first nine months of 2020, Li Shubin, vice chairman of the China Association of Metalscrap Utilization (CAMU), shared on November 12 at the 2020 National Steel Scrap Conference in Haikou, South China’s […]
Rebar output among the 137 Chinese producers surveyed by Mysteel including integrated mills and re-rollers retreated over October 29-November 4 after the short-lived recovery over the prior week, with the tonnage falling by 1.1% on week to 3.59 million tonnes, according to Mysteel’s latest weekly survey. The retreat in rebar output was mainly attributed to […]
