India will continue to be a net importer of steel for at least the next two years as high-grade products from South Korea and Japan flow in tax free amid worries of escalation in supplies from China, according to Fitch Ratings Ltd.’s local unit. Overseas purchases by India totaled 7.8 million tonnes imported in the […]
India’s LNG imports are forecast to increase from 22 million tonnes in 2018 to 33 million tonnes in 2021, Australia’s Department of Industry, Innovation and Science said in its Resources and Energy Quarterly report. India is aiming to lift gas’ share of the energy mix to 15 per cent by 2030 from the current 5 […]
World crude steel production for the 64 countries reporting to the World Steel Association (worldsteel) was 156.7 million tonnes (Mt) in April 2019, a 6.4% increase compared to April 2018. China’s crude steel production for April 2019 was 85.0 Mt, an increase of 12.7% compared to April 2018. India produced 8.8 Mt of crude steel […]
The proposed Regional Comprehensive Economic Partnership (RCEP) agreement may hurt India’s export competitiveness as the trade balance is already skewed, Trade Promotion Council of India (TPCI) said. TPCI said that the proposed RCEP, which is a mega free trade agreement, could lead to flooding of goods in the Indian market from the member countries; and […]
The biggest oil importers in Asia collectively bought 1.57 million barrels per day (bpd) of oil from Iran in March, a 36 per cent surge over February, as buyers rushed to use up the U.S. sanction waivers for Iranian oil purchases before they expire this week, Reuters reported citing government data and trade sources. Asia’s top oil […]
Southeast Asian countries are turning to low-cost coal to satisfy their surging electricity demand as the West shies away from the fossil fuel under pressure from green-minded investors. Indonesia is on track for the third-largest coal-fired power capacity of new plants under development, behind China and India. Vietnam follows in fourth place, while the Philippines […]
Shell and Japan’s Tokyo Gas Co Ltd have signed a long-term liquefied natural gas (LNG) deal, whose price will include a link to coal prices, in an innovative type of LNG contract aimed at diversifying price indexation. Typically, long-term LNG contracts for Asia are linked to the price of oil, while U.S. LNG sales are priced off […]
Unable to secure a waiver extension from Washington to continue buying Iranian oil, Japanese refineries are putting the brakes on further imports in order to give payments enough time to be processed under the existing waiver. In total, Japanese refiners purchased over 15 million barrels of Iranian crude from January through March, but the waiver […]
Indonesia and China slapped anti-dumping import duties on each other’s steel products in an escalation of a global tariff row involving one of the world’s most widely used metals. Indonesia extended anti-dumping import duties of up to 20 per cent for a number of flat-rolled iron and steel products from seven countries, including China, Russia […]
The recent revocation of the mining licence of Vale SA for the Brucutu mine in Brazil will be favourable for domestic iron ore miners and steel producers in the short term, believes India Ratings and Research (Ind-Ra). With a limited supply of iron ore, the hardening prices of iron ore and steel in the international […]
