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Chinese Steel demand may drop by 3.5% in 2015, 2% in 2016

The Chinese economy has decelerated as the impact of the rebalancing measures on the investment and real estate sector turned out to be more severe than expected, said the World Steel Association (worldsteel). As a result, activities in the construction and manufacturing sectors have slowed cons ...

China pitches for restarting iron ore import from India

Ambassador of People’s Republic of China to India Le Yucheng said that iron ore is the major product from India, which can help the country to address imbalance in its trade, and China would provide all access to the iron ore exports from India. “Iron ore was the most important Indian product ex ...

Indonesia’s 2015 wheat imports seen flat as economy flags

Indonesia’s wheat imports for 2015 will be lower than forecast at 7.4 million tonnes, flat to the previous year, the head of an industry group in the world’s No.2 importer of the grain said, as consumers cut spending as the economy slows. Earlier, Franciscus Welirang, chairman of the Indonesian ...

India’s thermal coal imports more than China’s in H1

India imported substantially more thermal coal in the first half of fiscal 2015 than last year, overtaking even China’s imports of the fuel, a report by Fitch Ratings said on Friday. According to the report, the 35 per cent higher imports of thermal coal in India over the same period in the perv ...

China import demand for thermal coal to fall sharply from 2016: Goldman Sachs

Chinese demand for seaborne-traded thermal coal will fall sharply from 2016, dragging prices down in its wake, analysts at Goldman Sachs said this week. In a report entitled The Tiger and the Dragon, the bank’s analysts downgraded their forecast for spot Newcastle 6,000 kcal/kg NAR prices by 17% ...

Dry bulk market fundamentals are still grim despite funds buying into dry bulk firms

Shipping companies and mining majors cannot really believe what they say in public – that there will be Chinese demand growth to support trimmed commodities production (albeit at lower prices than we’re used to) and occupy a vastly inflated, fuel-efficient global fleet. They’re all trying to ada ...

China’s wheat imports rise 14% on month in August, corn falls 45%

China’s wheat imports rose 14% month on month in August, resuming an upward trend after having fallen on the month in July, data released Tuesday by the General Administration of Customs showed. China imported 343,392 mt of wheat in August, compared with 301,297 mt in July, the data showed. The ...

China August thermal coal imports down 24.4% on year at 7.2 million mt

China imported 7.2 million mt of thermal coal in August, down 24.4% on the year but up 1% from July to a four-month high, according to data released by the General Administration of Customs. The volume included 5.16 million mt of bituminous and 2.04 million mt of sub-bituminous coal, but exclude ...

Asia Dry Bulk -Capesize rates to climb as owners, charterers play cat and mouse

Freight rates for capesize bulk carriers could continue to recover as ship owners scent the possibility of higher cargo volumes on tighter tonnage supply, ship brokers said. “Owners and charterers are playing a game of cat and mouse,” said a Singapore-based capesize ship broker. Charterers were ...

Shipping Index Soars as China Iron Ore Buying Seen Curbing Fleet

A measure of shipping costs for commodities had its biggest two-day gain in almost seven years amid speculation Chinese iron ore purchasing is eroding the supply of vessels to collect the raw material from Brazil. The Baltic Dry Index rose 18 percent on Thursday and Friday, the most for two days ...