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New Iron Ore royalty rate to hit India’s Steel production

The budget proposal to increase the royalty of iron ore from 10 percent to 15 has raised serious concerns in the industry. The proposal generated fears of an escalated cost of steel production coupled with a surging inflation rate. Addressing the issue, ASSOCHAM urged the Govt to review the prop ...

Indonesia requires coal exporters to register with trade ministry under new policy

Indonesia’s trade ministry has issued a regulation compelling all Indonesia-based exporters of steam and metallurgical coal to register on or before September 1, according to a copy of the regulation obtained by Platts Wednesday. Under the previous policy, all documents required to export coal c ...

Global freight data show diverging trends for developed and developing economies

The overall picture for global freight shows no change since the previous quarter. Total external trade by sea and air, in tonnes, remains stagnant below pre-crisis levels in EU27 and the USA. Imports and exports by sea continue to show diverging trends. While imports by sea stagnate below pre-c ...

ASIA IRON ORE: Market gains on bullish China economy hopes

Seaborne iron ore prices reversed losses Tuesday, as bullish expectations on Chinese economic performance provided stronger support for the steel raw material. Platts assessed the 62% Fe IODEX $0.75/dmt higher on day at $96/dmt CFR North China. Buying interest for seaborne iron ore were heard to ...

Corn Nears $4 as Seven-Day Drop Sends Price to 2010 Low

Corn dropped to the lowest level in almost four years on expectations that a record harvest in the U.S., the biggest exporter, will boost global supplies. Soybeans headed for the longest run of losses since 2009. Corn entered a bear market this month as most U.S. crops developed in good conditio ...

Karnataka may produce 22-25 mn tonnes iron ore in FY15

Fourteen months after the Supreme Court allowed mining in all categories of iron ore mines in Karnataka, the production is slowly gathering pace. As regulatory bodies are moving very slow in giving approvals, till now only 23 mines have restarted operations with a combined annual production of 2 ...

China coal industry’s Jan-May profits slump 44% on year amid low prices

China’s coal mining and washing industry reported profits falling 43.9% year on year to Yuan 51.26 billion ($8.3 billion) during the first five months of this year, mainly due to sagging coal prices, data from the National Bureau of Statistics showed. During the same period, major coal mining an ...

ASIA THERMAL COAL: CFR China cargo bids fall, talk of Shenhua price cut

The Asian seaborne cargo market for 5,500 kcal/kg NAR imported thermal coal was weaker Monday, with bids slipping to about $70/mt CFR South China amid talk Chinese coal producer Shenhua was on the verge of cutting prices. Buying interest in August and September-arrival Australian 5,500 kcal/kg N ...

Domestic Rice Prices in Asia Show Mixed Trends in May 2014, Says FAO

Domestic rice prices in Asia have shown mixed trends in April 2014, according to the UN’s Food and Agriculture Organization (FAO). While domestic prices in Cambodia, Indonesia and Bangladesh declined sharply, prices increased in China, India, Vietnam and the Philippines. Prices in Myanmar ...

India Poor monsoon forecast to weigh on agri commodity prices, supplies

With Indian Meteorological Department (IMD) forecasting below normal rains for South West Monsoon (June to September 2014), concerns have been raised about its impact on agri-commodity prices and inflation even as Agriculture Minister Radha Mohan Singh assured the people that government is commi ...