The 39 steel makers in China have exported a total of 875,000 mt of HRC in February, up 67.95% or 354,000 mt from the actual exports in January, according to SMM survey. Many domestic steel mills said that the China’s export quotations of steel have once again enjoyed prices advantages against the...
Commodity News
Wheat near 6-week high on Black Sea supply concerns, soybeans firm
Chicago wheat gained more ground on Monday to hit its highest since early January, as an escalating war between Russia and Ukraine threatened to curb supplies from the Black Sea region. Soybeans jumped to a seven-month high on worries about dryness in Argentina and excessive rains in Brazil....
Active Production Resumption of Overseas Blast Furnaces May Boost Global Steel Supply
Recently, many overseas steel mills are actively resuming the production on expectations for economic recovery and stronger steel prices. According to the latest SMM survey, the average daily pig iron output of blast furnaces resuming production since January is expected to reach 50,000 mt. In...
EU wheat rallies with Black Sea corridor back in focus
Euronext wheat futures rose on Friday to a one-month high as renewed Russian criticism of a wartime grain agreement with Ukraine put attention on risks to Black Sea exports. March milling wheat (BL2H3) on Paris-based Euronext settled 1.8% higher at 297 euros ($316.93) a tonne. The contract earlier...
https://www.hellenicshippingnews.com/eu-wheat-rallies-with-black-sea-corridor-back-in-focus/
Indonesia sets February coal benchmark price at $277.05/T-official
Indonesia set its monthly coal benchmark price at $277.05 per tonne for February, energy ministry official Lana Saria said on Friday, down from January’s $305.21 a tonne. The price drop tracked global coal indices lower as demand from Europe waned, she said. Source: Reuters (Reporting by Bernadette...
ArcelorMittal expects to increase steel shipments by 5% in 2023
ArcelorMittal (NYSE:MT), the world’s second-largest steelmaker, on Thursday said it expects its steel shipments to increase by around 5% this year, as it reported fourth-quarter earnings that were in line with expectations. The Luxembourg-based company said its fourth-quarter core profit (EBITDA),...
https://www.hellenicshippingnews.com/arcelormittal-expects-to-increase-steel-shipments-by-5-in-2023/
Strategie Grains increases EU wheat crop forecast again
Consultancy Strategie Grains for a second month in a row raised its forecast of European Union soft wheat production this year, citing good growing conditions so far. The French firm now expects EU soft wheat output of 129.7 million tonnes in the 2023/24 season, up from a forecast of 129.3 million...
https://www.hellenicshippingnews.com/strategie-grains-increases-eu-wheat-crop-forecast-again/
U.S. soybeans tick up, corn dips on sluggish exports
U.S. soybean futures edged higher while corn and wheat slipped in choppy Asian trading on Friday, following uninspiring export data and with traders monitoring production prospects in drought-hit Argentina. The most-active soybean contract on the Chicago Board of Trade (CBOT) turned 0.2% higher at...
https://www.hellenicshippingnews.com/u-s-soybeans-tick-up-corn-dips-on-sluggish-exports/
Euronext wheat eases from one-month high as export sentiment cools
Euronext wheat futures fell from a one-month high, curbed by chart resistance, weakness in Chicago and negative export sentiment, dealers said. March milling wheat on Paris-based Euronext settled 1% lower at 291.75 euros ($313.43) a tonne. It earlier rose to 295.50 euros, equalling Wednesday’s...
Trends in grains market during Russian-Ukrainian war
The Russia-Ukraine war has had a significant impact on European countries. From the perspective of migration movements, Poland has received about 1.5 million refugees from Ukraine. Heavily dependent on Russian coal, gas, and oil, Europe is facing a major energy crisis. Laboriously rebuilt supply...
https://www.hellenicshippingnews.com/trends-in-grains-market-during-russian-ukrainian-war/