India has received a total of 40 bids for some of the 32 commercial coal mines that were made available for auctioning in December, the government said in a statement on Monday, adding the bids would be opened on Feb. 20. The world’s second largest coal user, India began auctioning coal blocks to...
https://www.hellenicshippingnews.com/india-gets-40-bids-for-commercial-coal-mines/
Copper prices slipped on Monday after China’s central bank held key policy rates on medium term loans steady and the market focused on the country’s ailing property market, but falling inventories capped losses. Trading for Wednesday settlement on the London Metal Exchange (LME) is likely to mean a...
https://www.hellenicshippingnews.com/china-central-bank-disappointment-weakens-copper/
Industrial metals have a disappointing start to 2024 Industrial metals have had a disappointing start to the year so far. China’s macro backdrop remains challenging. At the same time, metals continue to be pressured by elevated interest rates and a strong dollar despite expectations that key...
https://www.hellenicshippingnews.com/industrial-metals-monthly-nickels-price-plunge-shutters-mines/
Indonesia lowered the coal benchmark price for its high grade coal to $124.95 per metric ton for February, from $128.85 in January, while prices for the other grades were mixed, an energy ministry decree showed on Monday. Source: Reuters (Reporting by Fransiska Nangoy; Editing by Tom Hogue)
Tokyo Steel Manufacturing Co Ltd., Japan’s top electric-arc furnace steelmaker, on Monday said it will keep steel product prices steady in March to ensure that a hike implemented this month will be absorbed by the market. The company raised prices for four steel products by up to 1.9% in February...
https://www.hellenicshippingnews.com/tokyo-steel-to-keep-product-prices-unchanged-in-march/
Copper prices edged down onMonday afterthe U.S. dollarsteadied followinglast week’s inflationdata, which cast doubts on when the Federal Reserve would begin easing interest rates, while trading resumed in China after the week-long Lunar New Year holiday. Three-month copper on the London Metal...
https://www.hellenicshippingnews.com/copper-inches-lower-after-dollar-firms-china-resumes-trade/
European wheat futures edged down on Friday to set another 2-1/2 year low as forecasts of large global supplies continued to pressure the market while an Egyptian import tender underscored stiff export competition. May wheat BL2K4, the most active position on Paris-based Euronext, was down 0.5% at...
Brazil’s largest farm cooperative entered 2024 with grain stocks over 50% higher than in 2023 driven by a bumper crop last season and sluggish farmer selling, Coamo’s President Airton Galinari said. The situation reinforces that supply pressure could continue to weigh on grain prices and dampen...
A board vote to decide on the future of Brazilian miner Vale’s chief executive ended in a tie, two people familiar with the matter told Reuters, weeks after the government pressured the mining giant to replace its current CEO. In a Thursday meeting, six of the 13 board members voted to give CEO...
https://www.hellenicshippingnews.com/vale-board-split-on-future-of-current-ceo-say-sources/
Things often seem at their worst just before they get better. In terms of meeting our net zero 2050 scenario, we’ve reached a watershed moment where the need for metals investment has become unquestionable. The challenge we face now is persuading investors, lenders, society and government that...
https://www.hellenicshippingnews.com/metals-investment-the-darkest-hour-is-just-before-the-dawn/