The most-traded DCE I2401 iron ore contract closed down 0.4% at 861 yuan/mt today. Iron ore traders’ shipment enthusiasm was average, and some were cautiously waiting. The overall market transaction atmosphere today was sluggish. Transaction prices of PB fines in Shandong were concentrated in the range of 929-940 yuan/mt, down 5-15 yuan/mt compared with yesterday, prices in Tangshan area were 950-960 yuan/mt, 0-10 yuan/mt lower than yesterday’s prices…Full story
Action is urgently needed as the collective cost of port and rail failures in SA over the past 18 months is R150bn
by SIYABONGA MTHEMBU AND LANCE PETERSEN – Business Day
It has been estimated that the collective cost of port and rail failures in SA over the past 18 months is R150bn. From another perspective, the collapse of Transnet is set to cost the country R1bn a day in economic output, the equivalent of 4.9% of our country’s annual GDP, or R353bn. Take a moment to let those numbers sink in…Full story
Lithium prices are plunging around the world, but the slump is particularly glaring in China, where the key battery metal is trading at a big discount versus the US.
After a buying frenzy sent global prices soaring though last year, they’ve since plunged as electric vehicle demand disappoints and supplies are expected to remain ample. Yet despite the broad rout, futures in the crucial Chinese market are about a third cheaper…Full Story
LAUNCESTON, Australia, Oct 3 (Reuters) – The heat is coming out of global commodity prices and the risks to the outlook are “evenly balanced”.
That’s the relatively downbeat assessment of the Australian government in its latest Resource and Energy Quarterly publication, released on Tuesday.
What the government forecaster in one of the world’s biggest exporters of resources is effectively saying is that while commodity volumes are holding up well, and expected to increase in coming years, the amount of money generated will slip…Full Story
Energy and metals traders can tap into a rapidly growing value pool by bringing greater liquidity and risk management tools to a lucrative but underfunded market, a report by McKinsey says.
The value of commodity trading pools nearly doubled from 2021 to 2022, reaching US$99bn in trading earnings before taxes and interest, finds the report, published on September 26.
It also says commodities are “currently significantly underpriced” despite rising demand driven by the energy transition…Full Story
Asia is currently experiencing its most significant hydropower crunch in decades, with China and India, the two countries that account for approximately three-quarters of Asia’s power generation, witnessing sharp declines.
The Port of Maputo is reaping the results of an $800-million investment that has taken the port from handling five-million tons overall in 2007, to a record 27-million tons last year, says Grindrod CEO Xolani Mbambo.
“In the recent five-year period we have invested $200-million.”
BEIJING (Reuters) -Chinese regulators may take steps to curb surging iron ore prices, the state-owned Shanghai Securities Journal said on Friday, without providing details on any actions to be taken.
The report comes after China’s state planner said last week it had sought expert advice on how to deal with rising prices. Read Full Story
With no relief in sight despite coal stocks running critically low and production disruptions looming across the Indian aluminium sector, the Aluminium Association of India (AAI) has urged the union coal ministry for immediate resumption of adequate coal rakes for the highly power-intensive Aluminium industry.
In its representation to the Ministry, the AAI has lauded the combined efforts by the Ministry of Coal and Coal India Limited in reviving domestic coal production, which has helped ease the coal supply crisis for the Power Sector. The steps undertaken by the Ministry increased the overall daily rakes dispatched from 242 rakes/day in September 2021 to 289 rakes/day in December 2021…Full Story