India’s steel demand is expected to grow at a CAGR of 7 per cent to touch 190 Million Tonne (MT) level by 2030, according to a report by SteelMint India. The demand will be largely fuelled by construction and infrastructure sectors, which contribute 60-65 per cent to the demand, the market research...
Dry weather in the growing season has reduced Australia’s wheat output this year, but most of the crop is with higher protein content and supplies of lower quality grains for animal feed are limited, analysts and traders said. Premiums earned by farmers in Australia, the world’s No. 2 wheat...
https://www.hellenicshippingnews.com/dryness-lifts-australian-wheat-quality-even-as-output-drops/
Chicago soybean futures firmed on Monday as forecasts of lower output in the world’s biggest exporter Brazil following hot and dry weather underpinned prices. Wheat inched higher, recouping some of last session’s losses while corn gained ground. FUNDAMENTALS * The most-active soybean contract on...
https://www.hellenicshippingnews.com/soybeans-rise-on-brazilian-crop-woes-wheat-firms/
China’s state planner said on Friday it would strengthen the supervision of iron ore at ports and guard against hoarding and speculation in order to maintain an orderly market, its second move this week aimed at curbing a price rally. The National Development and Reform Commission (NDRC) said it...
If commodity prices are anything to go by, sentiment is improving in China. The benchmark December SZZFZ3 iron ore futures contract on the Singapore Exchange is up 10% this month at $133.45 a ton on hopes Beijing will kickstart the property sector. A warning from Chinese regulators for traders on...
https://www.hellenicshippingnews.com/iron-ore-gains-on-chinas-property-debt-rejig-pain/
Chilean copper miner Antofagasta ANTO.L last week inked the first major 2024 concentrates supply deal with China’s Jinchuan Group. It remains to be seen whether the terms form an annual benchmark for others. Indeed, it’s far from certain there will be a single benchmark for next year due to a...
https://www.hellenicshippingnews.com/copper-supply-rethink-as-smelter-treatment-charges-fall/
French winter grain sowings came to a near standstill and crop ratings fell in France last week, data from farm office FranceAgriMer showed on Friday, after prolonged rainfall in the European Union’s biggest grain grower. French farmers had sown 74% of the expected soft wheat area for next year’s...
https://www.hellenicshippingnews.com/french-soft-wheat-sowing-nearly-at-standstill-ratings-fall/
Malaysian palm oil futures posted their first weekly drop in three as the contract fellfor a second session on Friday, weighed down by weakness in Dalian vegetable oils and a better-than-expectedoutput estimate. The benchmark palm oil contract for February delivery on the Bursa Malaysia Derivatives...
https://www.hellenicshippingnews.com/palm-books-weekly-loss-on-weaker-dalian-vegetable-oils/
Iran’s nine large iron ore concentrate producers have produced 28,774,175 tons of the product during the first seven months of the current Iranian calendar year (March 21-October 22). As reported, the seven-month output indicates one percent rise, as compared to the production in the same time span...
https://www.hellenicshippingnews.com/over-28m-tons-of-iron-ore-concentrate-produced-in-7-months/
Ukraine, a major global grain producer, has harvested 75.7 million metric tons of grain and oilseeds from the new 2023 harvest so far, the agriculture ministry said on Friday. The ministry gave no comparative data. It said the harvest included 55.5 million tons of grain. The volume included 22.5...
https://www.hellenicshippingnews.com/ukraine-2023-harvest-at-75-7-mln-t-so-far-ministry/