April 2024
Iron Ore & Steel
Iron ore down on pre-holiday risk-off, but posts best monthly gain since June 2023
Source: Hellenic shipping news
Iron ore and steel futures fell on Tuesday amid risk-off sentiment ahead of a Chinese public holiday, but most contracts posted monthly gains on the back of better demand outlook from the property sector. FULL STORY
Column: China’s strong iron ore imports diverge from weak steel output
Source: Mining
China’s first quarter imports of iron ore and its domestic production of the steel raw material both rose strongly, but output of crude steel fell. FULL STORY
China’s steel sector has bigger worries than Biden tariff hike
Source: Market Screener
U.S. President Joe Biden’s push to triple tariffs on Chinese steel imports strikes a mostly symbolic blow on an industry facing bigger concerns over faltering local demand and threats of even stronger blowback against China’s surging exports. FULL STORY
China’s March iron ore imports edge up, steel exports near 8-year high
Source: Mining
China’s iron ore imports in March rose about 0.5% from a year earlier, customs data showed on Friday, amid expectations that demand will pick up after the Lunar New Year holiday break as steelmakers typically ramp up production. FULL STORY
China’s steel demand expected to be weak in traditionally stronger Q2
Source: SP Global
China’s overall steel demand is expected to remain subdued in a traditionally stronger second quarter, mill and trading sources said, after the country’s net exports of semi-finished and finished steel hit an almost eight-year high in March even as production fell below the year-ago level. FULL STORY
China’s equipment renewals to boost new demand for higher-end steel products
Source: China Daily
The country’s action plan to promote large-scale equipment renewals is estimated to generate about 8 million tonnes in new market demand for medium and high-end steel products by the manufacturing industry, according to an industrial association. FULL STORY
Input costs, election, Chinese imports to weigh on steelmakers’ Q4 margins
Source: 15minute News
Major steelmakers are likely to take a hit in the March quarter due to a slowdown in domestic demand ahead of elections, and falling steel prices on account of aggressive competition from Chinese manufacturers, experts said. FULL STORY
Congo’s $7 billion infrastructure deal with China will depend on copper prices
Source: Mining
Around $7 billion of infrastructure investments in the Democratic Republic of Congo by Chinese companies in a revised minerals deal will largely depend on copper prices remaining high, details of the agreement published on Friday show. FULL STORY
Chinese miners see opportunities as BHP’s mega bid unfolds
Source: Mining
China’s leading metals companies, including its state iron ore buyer, are considering their next moves following BHP Group’s blockbuster $39 billion approach for rival Anglo American Plc, potentially the largest mining deal in over a decade. FULL STORY
Chinese nickel billionaire boosts Australian miner in Indonesia
Source: Mining
A little-known Australian company is becoming the Western face of a Chinese nickel behemoth.
In under a decade, Nickel Industries Ltd. has gone from a relatively small miner to the world’s sixth-biggest producer of a metal used in products from batteries to stainless steel. Riding a Chinese-led boom in Indonesia’s nickel sector, it owns or has stakes in five plants in the country that churn out more of the commodity than household names like BHP Group Ltd. FULL STORY
Coal
China overtakes Japan in April as Australia’s top coal market
Source: The Star
AUSTRALIA shipped more coal to China than Japan in April, the first time this has happened in any month in more than four years, underscoring shifting market dynamics and an improved political relationship with Beijing. FULL STORY
China’s rising hydro and solar set to cap coal use in 2024
Source: Reuters
China’s electricity consumption increased by 209 billion kilowatt-hours, or 10%, in the first three months of 2024 compared with the same period in 2023, when the country was emerging from the exit wave of the coronavirus. FULL STORY
China coal prices have bottomed, will surpass 2023 highs, industry group says
Source: Market Screener
China’s domestic coal prices have bottomed out and will exceed 2023 highs this year, a major coal industry group said on Wednesday. FULL STORY
China can’t quit coal by 2040, researchers say, despite global climate goals
Source: Mining
China’s coal consumption will fall by just one-third by 2040, according to a report by a European consultancy published on Tuesday, threatening climate targets that call for phasing out much of global coal use by 2040. FULL STORY
China state planner finalizes rule to set up coal production reserve system
Source: Mining
China’s state planner on Friday finalized a rule to set up a domestic coal production reserve system by 2027, aimed at stabilizing thermal coal prices and supplies to power plants. FULL STORY
China’s coal-rich Shanxi Province sees coal output fall 18.9 pct in Q1
Source: Xin Hua
The output of raw coal in north China’s Shanxi Province, a leading coal producer of the country, totaled about 271.62 million tonnes in the first quarter of 2024, down 18.9 percent year on year, local authorities said Thursday. FULL STORY
China’s coal output down 4.1 pct in Q1
Source: Xin Hua
China’s raw coal output fell 4.1 percent year on year to 1.11 billion tonnes in the first quarter of this year, official data showed. FULL STORY
China Mar thermal coal imports up 2.73% on yr
Source: SX Coal
China imported 32.38 million tonnes of thermal coal in March 2024, rising 2.73% year on year and 25.13% month on month, hitting a record high for the same period in history, the latest customs data shows. FULL STORY
Soybean
Chinese farmers enthusiastic about growing soybean
Source: China Daily
Snow began to thaw in late April in Heihe in China’s northeastern most province of Heilongjiang. Soybean grower Li Fuqiang wasted no time to start spring ploughing at full steam. FULL STORY
50m ton increase in food targeted by 2030
Source: China Daily
The central government has issued a guideline that aims to increase China’s annual food production capacity by more than 50 million metric tons by 2030, with a focus on corn and soybean, the National Development and Reform Commission, the country’s top economic planner, said on Tuesday. FULL STORY
China set for bumper harvests of grains and oilseeds, ministry says
Source: Tridge
China is set for another year of bumper harvest of grains and oilseeds, helped by expanded planting of winter wheat and rapeseed and healthy growth of seedlings,the country’s agricultureministry said on Friday. FULL STORY
Information about China’s rejection of Ukrainian corn is a rumor at the level of traders
Source: Ukr Agro Consult
There are currently no ban on import of Ukrainian corn to China, all the rumors that are circulating now are at the level of traders, said Mykola Gorbachev, president of the Ukrainian Grain Association (UGA), at the Black Sea Grain. Kyiv conference, Latifundist.com correspondent reports. FULL STORY
China imported the lowest volume of soybeans in 4 years in March
Source: Ukr Agro Consult
According to the customs data, China imported the smallest monthly volume of soybeans in March for the last 4 years – 5.54 mln tonnes, which is also 20% lower than in March 2023. FULL STORY
China was Destination for 91.8% of Soy Exports from Paranagua
Source: Ukr Agro Consult
During the first three months of 2024, China was the destination for 91.8% of the soybean exports from the Port of Paranagua in southern Brazil. According to data from the federal government (Comes Stat), Paranagua exported 3,208,185 tons of soybeans to China during the first quarter of 2024. That number is 105% more than the 1,563,276 tons exported during the same period in 2023. FULL STORY
China to determine market trend for soybeans and soybean meal: IGC Director
Source: S&P Global
International Grains Council Executive Director Arnaud Petit has said that China will be determining the market trend for soybeans and soybean meal as the biggest demand center. FULL STORY
Malawi launches soybean exports to China
Source: Xin Hua
Malawi’s soya industry has made a breakthrough into Chinese market as the southern African country seeks to increase agricultural exports to boost the economy. FULL STORY
Chinese Buyers Cancel Corn Shipments as Beijing Supports Farmers
Source: Ukr Agro Consult
Chinese buyers are canceling corn shipments as they seek to comply with new government measures to support domestic farmers. FULL STORY
Energy
State shipbuilder signs big tanker deal
Source: China Daily
China State Shipbuilding Corp, one of the world’s largest shipbuilders, has received what it calls the largest single global order of ships from energy industry giant Qatar Energy. FULL STORY
Chinese turbine manufacturers lead in taking products to foreign shores
Source: China Daily
Chinese wind turbine makers are not only exhibiting their prowess in domestic markets, but are also expanding to foreign ones, as the related technology evolution between China and the rest of the world is diverging quickly, according to a recently released report. FULL STORY
Sabic mulls collaboration with value chain partners
Source: China Daily
Saudi Arabian petrochemicals company Sabic is committed to further collaborating with upstream and downstream value chain partners to unlock huge opportunities in China, thereby driving the innovative development and structural transformation of the petrochemicals industry in the country, its top executive said. FULL STORY
Asia’s first FPSO built in China
Source: China Daily
Construction of Asia’s first cylindrical floating production storage and offloading (FPSO) facility, designed and built by China, was completed on Friday, according to its operator China National Offshore Oil Corp. FULL STORY
Energy and chemical company Aramco enters discussion with Hengli Group
Source: China Daily
Aramco, one of the world’s leading integrated energy and chemicals companies, has entered into discussions with Hengli Group Co Ltd regarding the potential acquisition of a 10 percent stake in Hengli Petrochemical Co Ltd, the company said on Tuesday. FULL STORY
Oil consumption back to 2019 levels
Source: China Daily
China’s petroleum refining capacity is entering a new expansion phase with 85 million metric tons expected to be added from 2024 to 2027, experts said. Around 35 million tons of outdated petroleum refining capacity will be optimized to boost high-quality development of the industry, they added. FULL STORY
China’s crude oil output increases in January-March
Source: Xin Hua
China’s crude oil output posted steady growth in the first three months of this year, official data showed. FULL STORY
China’s natural gas output rises in January-March
Source: Xin Hua
China’s natural gas output hit a record high in the first quarter of 2024, data from the National Bureau of Statistics (NBS) showed. FULL STORY
China warns of tight summer power supply amid weather worries
Source: Hellenic Shipping News
China’s energy regulator expects maximum power load this summer to swell by more than 100 million kilowatts from last year, threatening to strain supply in some regions, especially in harsh weather, it said on Monday. FULL STORY
China’s Sinopec charts global expansion with refinery in rival India’s backyard
Source: Reuters
Chinese state energy giant Sinopec is pushing for greater access to Sri Lanka’s market, where rival India is also seeking to expand its presence, as it looks to build its first fully-controlled overseas refinery, reflecting a change in the firm’s global strategy to compensate for slowing demand growth at home. FULL STORY
China boosted Q1 crude oil storage as imports flatlined
Source: Market Screener
China increased the pace at which it added crude to inventories in March as the world’s biggest oil importer snapped up record imports from Western-sanctioned Russia. FULL STORY
China’s cargo, container throughputs at ports log steady growth in 2023
Source: Xin Hua
China’s cargo and container throughput at ports saw steady expansion in 2023, official data showed. FULL STORY