IRON ORE & STEEL
RIO TINTO JOINS HANDS WITH SHOUGANG TO SUPPORT DECARBONIZAT
Source: China Daily – September 23rd
Global metals and mining giant Rio Tinto Group said on Thursday that it has signed a Memorandum of Understanding with Shougang Group, one of the world’s top 10 steel producers, to jointly promote research, design and implementation of low-carbon solutions for the steel value chain…FULL STORY
BAOWU STEEL LINES UP SINGAPORE PARTNERS FOR SIMANDOU PROJECT
Source: Caixin – September 30th
State-owned China Baowu Steel Group, the world’s largest steel producer, signed an agreement Friday with a Singaporean consortium to jointly develop part of the massive Simandou iron ore project in Guinea.
Baowu Steel said it will form a consortium with major domestic steelmakers, infrastructure construction concerns and strategic investors to work with Winning Consortium Simandou (WCS) in developing the Simandou North Iron Project in Guinea.
Baowu Steel didn’t disclose its partners. Baowu is already participating in development of the southern part of the Simandou project…FULL STORY
RIO TINTO, BAOWU TEAM UP TO DEVELOP WESTERN RANGE IRON ORE MINE PROJECT
Source: China Daily – September 14th
Mining giant Rio Tinto Group and China Baowu Steel Group Co Ltd will set up a joint venture to develop the Western Range iron ore mine project in the Pilbara, Western Australia, with a total investment of $2 billion, said Rio Tinto on Wednesday…FULL STORY
IRON ORE PRICE RISES AS CHINESE STEEL MILLS RESUME RAMPING UP OUTPUT
Source: Mining – September 27th
Iron ore futures rose on Tuesday, with Singapore prices rebounding after two straight sessions of losses, as top steel producer China resumed ramping up output to cash in on increased construction activity during the September-October peak season…FULL STORY
SHANGHAI REBAR SLIPS ON FRAGILE CHINA DEMAND RECOVERY
Source: Hellenic Shipping News – September 26th
Chinese rebar futures slipped on Monday after reaching an eight-session high in the previous session, as traders opted to wait and see if the fragile pace of a recovery in demand for the construction material can be sustained this week.
Prices of iron ore and other steelmaking inputs in China, the world’s biggest steel producer, also pulled back…FULL STORY
CHINA’S ECONOMIC STUMBLES WEIGH ON METAL PRICES
Source: Energy Bulletin – September 13th
Metal prices powered to new highs in Spring on fears that rapidly rising energy costs would restrain supply. Bad news in China, however, has squashed those concerns. China’s zero-Covid policy and a struggling economy are weighing on demand, with climbing inventories lowering prices…FULL STORY
COAL
CHINA COAL OUTPUT UP 8.1% IN AUGUST
Source: China Daily – September 19th
BEIJING — China’s raw coal output posted stable expansion in August, official data showed.
The country produced 370 million metric tons of raw coal last month, up 8.1 percent year-on-year, according to the National Bureau of Statistics…FULL STORY
CHINA’S COAL IMPORTS DISAPPOINTING SO FAR IN 2022
Source: Hellenic Shipping News – September 24th
In its latest weekly report, shipbroker Banchero Costa said that “so far in 2022, global coal trade has been a bit of a mixed picture. In the January to August period of 2022, total global seaborne coal loadings increased by +2.2% y-o-y to 784.9 mln t, from 767.7 mln t in the first 8 months of 2021, but still well below the 853.6 mln t in the same period of 2019. However, the worst was at start of the year, and the trend in recent months has been very positive. In 1Q 2022, global coal loadings were down -5.1% y-o-y to just 258.5 mln t. In 2Q 2022, coal loadings were a strong +7.7% y-o-y at 314.0 mln t. The month of June 2022 was actually a record 111.8 mln t, +12.6% y-o-y. August 2022 saw an equally strong 109.5 mln tonnes loaded, which was up +22.1% year-on-year from August 2021 and indeed even higher than the 106.0 mln t of August 2019…FULL STORY
CHINA SAYS ITS COAL RESERVES WILL LAST FOR 50 YEARS
Source: Energy Bulletin – September 22nd
China, the world’s largest coal consumer, has domestic reserves of coal to last the next 50 years, according to annual reserves data from the Ministry of Natural Resources cited by Bloomberg . At current rates of domestic production, China also has crude oil reserves that could last for at least 18 more years, according to the ministry While Chinese coal consumption is primarily met by domestic production, it’s not the same for oil. China, the world’s top oil importer, imports much more oil than its domestic production…FULL STORY
CHINA DIGS DEEP TO RAISE COAL OUTPUT TO RECORD HIGH
Source: Hellenic Shipping News – September 22nd
China’s coal production has surged this year as the government seeks to improve energy security by reducing dependence on imports and amassing inventories at power plants.
Raising domestic coal output is consistent with Beijing’s broader effort to indigenise supplies of critical energy sources, raw materials and technology…FULL STORY
CHINA HAS ENOUGH COAL RESERVES TO LAST ANOTHER FIVE DECADES
Source: Mining – September 21st
China has enough coal for the next five decades and sufficient oil to last at least 18 years at current rates of production, according to the Ministry of Natural Resources.
The latest annual tally of reserves released on Wednesday shows an endowment of fossil fuels that stretches well beyond China’s 2030 deadline to peak its carbon emissions. In the case of coal, the worst fuel for global heating, there’s enough in the ground to take China past even its 2060 ambition to achieve carbon neutrality…FULL STORY
SOYBEAN
CHINA’S SOYBEAN IMPORTS FROM BRAZIL PLUNGE IN AUGUST – CUSTOMS
Source: Hellenic Shipping News -September 21st
China’s soybean imports from Brazil plunged in August from a year ago, customs data showed on Tuesday, as high prices capped purchases of the oilseed from the South American nation.
Imports from smaller suppliers such as Uruguay and the United States both increased, however…FULL STORY
SOYBEAN MEAL PRICES IN CHINA HIT RECORD HIGH AMID TIGHT SUPPLY
Source: Hellenic Shipping News -September 27th
Soybean meal spot prices in China hit its highest level at Yuan 5,500/mt on average Sept. 26, up by 8% week on week, amid lower availability in the domestic market, sources said.
As CFR China soybean prices surged to a record high in March 2022, the Chinese crushers lowered the purchase volumes of imported soybeans for June shipment and onwards to minimize losses from deteriorating negative crush margins. Soybean meal prices were last higher at Yuan 5,150/mt on March 22...FULL STORY
CHINA SOYBEAN IMPORTS DROP 6.2% Y/D, POTENTIAL SHORT-TERM RECOVERY AHEAD
Source: Hellenic Shipping News -September 30th
On 26 September, soymeal prices in China surged 8% to CNY 5,500 (USD 739) per tonne compared to Monday last week. Following a jump in demand ahead of China’s national day on 1 October some crushers have had to stop production due to a shortage of soybeans. This could signal a recovery in imports after months of lacklustre demand and high soybean prices which have caused a 6.2% y/y drop in soybean imports so far in 2022…FULL STORY
CHINA’S GRAIN OUTPUT MAY EXCEED TARGET FOR EIGHTH STRAIGHT YEAR DESPITE CHALLENGES
Sources: Yicai – September 28th
China’s grain production is expected to surpass the goal of 650 million tons for the eighth consecutive year this year despite natural disasters and the Covid-19 pandemic, according to a government expert in crop production…FULL STORY
CHINESE FERTILIZER EXPORTS BOOSTED BY POPULATION BOOM
Sources: Tradedatamonitor – September 24th
The world’s population has more than tripled since 1950, to almost eight billion. By 2050, it’s expected to reach 9.7 billion. All those people need to eat, and farms must keep fueling higher yields. That’s heated up global trade in the stuff that helps plants grow — fertilizers.
By improving soil nutrition, fertilizers boost yields of key crops like wheat, corn, sugar and soybeans.
This global USD 160 billion market is expanding at 4% a year and is especially robust in Asia, which accounts for roughly half of global demand…FULL STORY
CHINA EXPECTS BUMPER GRAIN HARVEST THIS YEAR
Sources: China Daily – September 29th
China is expected to see a bumper grain harvest this year despite the impact of rare rain last autumn and severe drought in southern areas, which has contributed to the global food security, Minister of Agriculture and Rural Affairs Tang Renjian said on Wednesday at the Agriculture Ministers Meeting of the G20 in Bali, Indonesia…FULL STORY
ENERGY
ANALYSTS: LNG TANKERS KEY TO SMOOTH IMPORTS, ENERGY SECURITY
Source: China Daily – September 14th
Efforts to increase the number of China’s liquefied natural gas carriers will deepen the country’s ability to transport LNG independently and help its importers seal more long-term purchase deals, industry analysts said on Tuesday…FULL STORY
REFINERIES ‘IN NEED OF SHIFT’ON BIZ MODE
Source: China Daily – September 28th
Amid world’s green transition, experts highlight petrochemical production
With the rapid development of new energy vehicles and decreasing demand for petroleum products in China, refineries in the country should further evolve to make less gasoline and diesel but put more focus on petrochemical feedstocks, said analysts…FULL STORY
CHINA COMPLETES WORK ON LARGEST LNG RESERVE BASE’S MAIN STRUCTURE
Source: China Daily – September 23rd
China’s largest LNG reserve base’s main structure of the storage tank is basically completed, as the No 10 storage tank of the Phase I expansion project of Yancheng Green Energy Port of CNOOC successfully finished its topping-up task on Thursday.
The lifting is most technically difficult and requires the highest safety security. The work lasted for nearly 40 hours…FULL STORY
COLUMN: DESPITE WEAK CRUDE OIL IMPORTS, CHINA KEEPS BUILDING STOCKPILES
Source: Energy Bulletin – September 22nd
One of the features of the crude oil market this year has been China’s weak imports and faltering exports of refined fuels. But despite the decline in oil imports, China has actually been building up inventories, as crude imports and domestic production has been exceeding the volume of refinery processing. China added about 850,000 barrels per day (bpd) to either commercial or strategic stockpiles in August, according to calculations based on official data…FULL STORY
CHINA INCREASES CRUDE OIL IMPORTS FROM RUSSIA
Source: Energy Bulletin – September 22nd
Despite lower crude oil refining and imports overall, China has increased its crude oil imports from Russia. Despite lower crude oil refining and imports overall, China has increased its crude oil imports from Russia. According to the U.S. Energy Information Administration, the resurgence of Covid-19 cases since March 2022 and China’s policy of localized mobility restrictions reduced refinery activity in China…FULL STORY
CHINA’S AUGUST GASOLINE EXPORTS NEARLY DOUBLE FROM A YEAR AGO
Source: Hellenic Shipping News – September 19th
China’s August gasoline exports rose 97.4% from a year earlier, customs data showed on Sunday, as refiners took advantage of fresh export quotas amid faltering domestic demand.
Gasoline shipments were at 1.12 million tonnes last month, while volumes for the January to August period were 30.4% lower than the corresponding period last year, according to data from the General Administration of Customs..FULL STORY
AS MAJOR CHINESE HUBS SEE MIXED TRADE PERFORMANCE IN JAN-AUG, MORE SUPPORT MEASURES URGED
Source: Hellenic Shipping News – September 27th
Major Chinese export-oriented cities are using a wide array of measures from opening up new trade routes to engaging in specific markets to shore up foreign trade amid strong economic headwinds, as trade figures released on Sunday showed a diverging trend…FULL STORY
CHINA TO OFFER EUROPE A LIFELINE THIS WINTER WITH MORE DIESEL EXPORTS
Source: Hellenic Shipping News – September 26th
China’s refiners are set to release huge stocks of diesel onto the world market just in time to meet winter demand, according to industry sources.
Refinitiv, a unit of the London Stock Exchange Group, said Beijing has granted refiners up to 15 million tonnes of oil product quotas for the rest of the year, partially reversing an export ban imposed last year…FULL STORY
ZHOUSHAN PORT RANKS 5TH IN BUNKERING
Source: China Daily – September 1st
Last year, it processed 26.52 million metric tons of crude oil, and Zhejiang Petroleum and Chemical Co, the operator and investor, generated 139 billion yuan ($20.1 billion) in revenue.
Reforms promoted in the Zhoushan area also attracted fuel oil suppliers and traders…FULL STORY
CHINA’S FREIGHT INDICES RECORD MIXED PERFORMANCE
Source: China Daily – September 26th
China’s index of export container transport fell in the week ending on Sept 23, according to the Shanghai Shipping Exchange.
The China Containerized Freight Index went down 5.1 percent to 2,475.97 from the previous week, according to the exchange.
The CCFI tracks spot and contractual freight rates from Chinese container ports for 12 shipping routes across the globe, based on data from 22 international carriers. The index was set at 1,000 on Jan 1, 1998, according to a Xinhua report…FULL STORY