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India: Steel imports surge 58% in May; consumption up 6.8%

Last week, India slapped anti-dumping duty on imports of certain steel products from three countries, including China, to protect domestic producers, a development that is expected to help contain the rising imports of the metal. India’s steel imports surged 58% in May to about a million tonne, ...

China’s Weak Steel Market Pushes Exports to Four-Month High

China’s steel exports surged to a four-month high as oversupply in the world’s biggest market and better external demand spurred mills to ship a surplus overseas. Outbound shipments rose 14 percent in May from a year earlier to about 9.2 million metric tons, according to China’s customs administ ...

Weak ruble boosts Russian coal exports but does little for Panamax freight market

Increased exports of Russian coal to Europe, boosted by a weak ruble, may do little to help the overall Panamax freight market in the North Atlantic, which is plagued by a seasonal decline in demand. The Russian ruble has dropped dramatically in the last 12 months, which has led to significantly ...

Asia Dry Bulk-Pacific, Atlantic capesize rates set to diverge

Rates for capesize bulk carriers could diverge next week, holding steady in the Pacific on healthy cargo volumes but easing in the Atlantic on a lack of coal and iron ore cargoes from South Africa and Brazil, ship brokers said. “There’s still a fair amount of cargo from Australia. But not a huge ...

Australia govt report highlights India thermal coal opportunities

The Minerals Council of Australia (MCA) has welcomed the federal government’s report on the use of coal in India, saying it provided additional opportunities for Australian producers to become more involved in that country. The MCA’s executive director of coal, Greg Evans, stated that while Indi ...

Asian coal prices lifted by tightening markets in China, India

Asian physical coal prices edged up this week, at least temporarily halting a month-long steady fall of Australian prices as China raised its prices due to tightening supplies, while South African markets were supported by strong Indian demand. Chinese state coal firms have raised prices for the ...

India’s bid for self-sufficiency in urea not likely to impact dry bulk market

India’s target of achieving self-sufficiency in urea production in the next four years is expected to have limited impact on the Panamax, Supramax and Handy class vessels, dry bulk freight market sources tracking fertilizer cargoes said. Urea movement into India, which is a key cargo for dry bul ...

Essar entry to boost iron ore exports

The entry of Essar Ports Ltd, one of the largest private port companies in India with a capacity of over 100 million tonnes a year, as a BOT operator in Visakhapatnam Port will not only boost iron ore exports but also give a fillip to coastal movement in India. Besides tapping coastal movement w ...

China ‘needs more WA iron ore’

WA’s mining boom is not over because China’s high demand for iron ore is still growing, the head of an Australian chamber of commerce in Shanghai says. AustCham Shanghai chairman Peter Arkell said the Chinese Government’s urbanisation policy was driving continuing demand for WA’s high-quality ir ...

India’s CIL produces 40.97 mil mt coal in May, short of target

Indian state-run Coal India Ltd., or CIL, missed its output target for May by producing 40.97 million mt of coal against the targeted 41.78 million mt, CIL said Monday in regulatory filing with the Bombay Stock Exchange. The May output was up 13% year on year. In the first two months of fiscal 2 ...