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China’s imports adjust to reflect Indonesian ore ban

Indonesia’s ban on the export of unprocessed minerals has been in force for more than four months, cutting off flows of nickel ore and bauxite to China. The impact on the nickel price has already been huge. On the London Metal Exchange (LME), three-month metal has staged a spectacular rall ...

Iron ore price set to drop below $US100

Iron ore traders are expecting the spot price for the bulk commodity to drop below $US100 a tonne overnight as futures fell, pressured by rising supply and a weaker Chinese steel market. The spot price for the bulk commodity dropped 2 per cent to $US100.70 a tonne on Friday, the lowest since Sep ...

Dry bulk market is bound for a recovery claims Paragon Shipping’s head Michael Bodouroglou

The dry bulk market is bound for a recovery in the coming weeks, as the market will be better balanced, said Mr. Michael Bodouroglou, Chairman and CEO of Paragon Shipping, in an interview with Hellenic Shipping News Worldwide. Mr. Bodouroglou attributed the lacklustre performance of the market s ...

India: Record grain output will help new government

India is set to harvest a record 264.4 million tonnes of grains in the crop year that ends in June, the farm ministry said, easing pressure on a new government that may have to deal with poor monsoon rains later in 2014 due to the El Nino weather pattern. “Record output in wheat and rice p ...

Supreme Court orders temporary closure of some Odisha iron ore mines

The Supreme Court ordered on Friday the temporary closure of nearly half of the iron ore mines in top producing state Odisha due to non-renewal of years-old leases, in a blow to local steel mills that depend heavily on high-quality ore from the state. Odisha, which allows exports of only half of ...

India steel makers eye export boom in near future

When prime ministerial hopeful Narendra Modi asked at an election rally if anyone knew of a country that exported wheat but imported bread, steelmakers joined his followers to cheer. For steel executives, it was just what they wanted to hear: their calls to restrict exports of iron ore further w ...

China’s robust commodity imports boosted by stockpiling, financing: Clyde Russell

How long can strength in China’s commodity imports co-exist with weakness in other key indicators, such as manufacturing? If you accept the argument that China can’t continue to import record, or near-record, levels of major commodities while experiencing slowing growth, then one of ...

Upside in Japanese thermal coal imports limited despite nuclear shutdowns

Despite shutdown of nuclear power plants, Japan is not expected to raise its thermal coal imports significantly over the next five-seven years, as existing coal-fired power plants are running at high rates and new facilities are still on the drawing board, analysts and market sources said. The i ...

ASIA PANAMAX DRY: Steady Indonesia-to-India coal movement supports rates

Panamax coal freight market in Asia Pacific remained steady in spite of the current holiday period in the Far East as stable activity levels were being maintained on the Indonesian-to-India routes, shipping sources said Tuesday. “Currently, there are at least five cargoes being shown in th ...

Bumper ship demolition sales despite uncertainty

It is becoming more and more difficult to predict the manner in which shipbreaking markets will behave. At a time when caution could have been expected to be the watchword, there was rampant buying at rates that can only be considered unsustainable. In India, uncertainty over the direction of th ...