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 […]
Japan, South Korea, India, and China are all buying Iranian crude once again, but at much lower rates than they did before November when U.S. sanctions kicked in, S&P Global Platts calculations reveal. All four countries, along with another four, were granted sanction waivers for a period of 180 days, with China and India only lowering […]
Global crude steel production reached 1,808.6 million tonnes (Mt) for the year 2018, up by 4.6% compared to 2017, global industry body worldsteel said in its latest output report. Crude steel production increased in all regions in 2018 except in the EU, which saw a 0.3% contraction. Asia produced 1,271.1 Mt of crude steel in […]
India produced 106.5 million tonnes of steel in 2018, beating Japan to become the world’s second-biggest producer, global industry body worldsteel said while releasing the latest annual output data. China led the way, producing 928.3 million tonnes, up 6.6 percent from 2017. Rank Country 2018 (Mt) 2017 (Mt) %2018/2017 1 China 928.3 870.9 6.6 2 […]
India has expelled a counter warning issued by the US claiming that New Delhi’s Market Price Support (MPS) for cotton has broken the allowed levels of trade-distorting domestic support in the past seven years at the World Trade Organization (WTO). The US has alleged that India paid trade-distorting subsidies to its cotton farmers well in excess of the limit […]
Armed with waivers to keep importing oil from Iran without running afoul of U.S. sanctions, several countries are preparing to manage the repercussions of sanctions. Here is a list prepared by Bloomberg. The exemptions mean at least some supplies from OPEC’s third-biggest producer will keep flowing into international markets, after Iran’s exports plunged by almost […]