Global cotton production for 2022/23 is lowered 1.2 million bales to just over 120 million bales with a marked decline in the U.S. crop and a slight decline for Brazil, the U.S. Department of Agriculture (USDA) said in its latest monthly agriculture supply an demand report. In its 2022/23 outlook, the USDA said global use […]
The Indian steel sector outlook, on the back of strong domestic demand from government and private sectors, is likely to remain firm amid concern of global demand uncertainties in the current fiscal. Tata Steel expects that demand and prices will remain strong as China will no longer be adding 50-60 million tonnes to its capacity […]
ArcelorMittal expects 2022 global steel consumption to contract 0%-1% as Russia’s military invasion of Ukraine disrupts supply chains, stoking inflation, while China’s COVID-19 lockdowns dampen economic activity, the world’s second biggest steelmaker said. The company had previously estimated 2022 global steel consumption to rise 0%-1%. Long-term steel market fundamentals remain positive, ArcelorMittal said, after posting […]
The global semiconductor shortage continues to curtail production at automakers around the world. New and ongoing Covid-related lockdowns in China are inhibiting already strained supply chains. This threatens to have an adverse impact on steel prices, if things are not restored soon. The military conflict in Ukraine has reduced the supply of component parts to […]
Business intelligence firm Fitch Solutions Country Risk and Industry Research is revising its 2022 iron-ore price forecast upwards, from $90 per tonne to $120 per tonne. It has also revised its 2023 forecast, from $75 per tonne to $ 110 per tonne, as Chinese demand has once again started picking up. The firm expects Chinese […]
Fitch Ratings said it expects most oil and gas (O&G) companies across all regions to show broadly stable year-on-year performance due to continued financial discipline, supporting a neutral global sector outlook in 2022. Keeping costs and debt under control will remain a priority for most O&G companies. We expect only a moderate increase in capex, […]
Ratings agency Moody’s affirmed India’s sovereign rating and upgraded the country’s outlook to ‘stable’ from ‘negative’, citing receding downside risks to the economy and financial system. The sovereign rating by Moody’s stands at ‘Baa3’—which is the lowest investment grade, just a notch above junk status. “Moody’s Investors Service has today changed the outlook on the […]
Unpredictable weather is ruling agriculture markets, as supplies of major commodities are stretched thin allowing little room for output losses, while meteorological conditions in major producing countries look uncooperative. While ongoing weather troubles in the agriculturally prominent countries are influencing prices of wheat, corn, soybean, and vegetable oils, uncertain weather is likely to cast a […]
Global steel demand will grow by 5.8% in 2021 to reach 1,874.0 million tonnes (Mt), after declining by 0.2% in 2020, worldsteel forecast in its latest short range outlook on Thursday, adding that in 2022 steel demand will see further growth of 2.7% to reach 1,924.6 Mt. The current forecast assumes that the ongoing second […]
India’s oil and gas imports are expected to double by 2050 as overall energy demand grows while the dependence on coal reduces going forward. According to BP Energy Outlook 2050, the growth of energy consumption in the emerging economies will be led by India, “which is seen to be the largest source of demand growth […]
