Brent crude seen at $45/barrel next year; China, Asian oil cos to benefit – Fitch

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 […]

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Mysteel Global – China EAF capacity use rebounds on improved margins

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 […]

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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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China suspends imports of seafood products from one Indian firm on finding traces of Covid 19

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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 […]

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Gold sale breaks record during dhanteras; imports declined by 47% during April-October 2020

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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 […]

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