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Iron Ore Will Breach $50 on China Demand, Citigroup Says

Iron ore will slump below $50 a metric ton as steel demand in China, the world’s largest producer of the alloy, remains fundamentally weak and mining companies’ costs extend declines, according to Citigroup Inc. Chinese steel demand shrank in January and February from a year earlier, the bank sa ...

Higher rates across all vessel segments propels Baltic index

The Baltic Exchange’s main sea freight index, which tracks rates for ships carrying dry bulk commodities, rose on Friday, propelled by higher rates across all vessel segments. The index, which factors in the average daily earnings of capesize, panamax, supramax and handysize dry bulk transport v ...

S.Korea’s KOSEP buys 110,000-120,000 T of anthracite coal for April-June

Korea South-East Power Co Ltd (KOSEP) has bought 110,000-120,000 tonnes of Russian anthracite coal via two tenders closed on March 12, a source from the utility said on Monday. The utility had initially sought to buy a total of 128,000 tonnes of coal but was unable to procure the entire amount. ...

Japan launches initiative to boost rice exports to Singapore

A rice export association has launched an initiative to sell more rice to Singapore, taking advantage of the wealthy city-state’s appetite for Japanese cuisine. The program, titled “This is Japan Quality,” was developed by the Japan Rice and Rice Industry Export Promotion Association in partners ...

China should limit annual grain imports up to 11 million tonnes China should limit annual grain imports up to 11 million tonnes

China should limit annual grains imports to up to 11 million tonnes until the government can reduce its massive state reserves, Qian Kemin, chief economist at the Ministry of Agriculture said on Monday. Government leaders have repeatedly said Beijing would control grains imports to try to cut ov ...

Analyst: Strong Chinese demand for Brazil iron ore to last just 5 more years

Brazil’s iron-ore exports to China will remain stable for five years but then a sharp slowdown in the Asian giant’s housing market will trigger a reduction in demand for steel, the managing director of the Beijing-based GaveKal Dragonomics consulting firm said. Arthur Kroeber, a U.S. economist, ...

China may cut coal imports further amid domestic glut

The Chinese government could seek to reduce coal imports further as it works to protect its domestic coal mining industry amid a production glut, a leading industry forecaster has warned. The chronic unprofitability of China’s domestic coal mines resulted in a series of measures being adopted in ...

India’s Coal imports in Feb down 11% on-month

India’s coal imports via 24 major ports stood at about 16.98 million mt in February, down 11% month on month, according to data from Indian shipbroker Interocean. The monthly imports were comprised of 13.24 million mt of steam coal, down 9.7% from February, and 3.74 million mt of coking coal, do ...

China’s Feb coal imports fall from Jan -customs

China’s coal imports fell 9.1 percent to 15.26 million tonnes in February from the previous month, customs data showed on Sunday, with shipments hit by slower demand and quality inspections at Chinese ports. Total coal imports into China, the world’s biggest consumer, slumped 33 percent from a y ...

China manganese ore import prices edge lower as demand stays weak

Prices for manganese ore delivered to China have edged down further this week on the back of prevailing weak demand, as Chinese consumers continued to shy away in anticipation of lower levels. Platts assessed its weekly 44% manganese ore price at $3.45/dmtu from $3.50/dmtu CIF Tianjin a week ago ...