Iron Ore & Steel
Oman sees new construction plant with Chinese businesses
Source: China Daily
On Monday, Vale and Jinnan Iron & Steel Group announced a joint partnership to establish an iron ore concentration plant in Sohar Port and Freezone in Oman. FULL STORY
Iron ore climbs to over two-week high on prospects of more China stimulus
Source: Shipping Herald
Iron ore futures climbed on Tuesday to their highest levels in more than two weeks, underpinned by growing optimism over further stimulus from top consumer China, although fundamentals of the key steelmaking ingredient remained weak. FULL STORY
China iron ore imports head for record even as steel output slips: Russell
Source: Zawya
China, which buys almost three-quarters of global seaborne iron ore, is likely to import as much as 120mln metric tons this month, according to vessel-tracking and port data. FULL STORY
China’s Baosteel anticipates Simandou to mine first freight by end 2025
Source: Energy News
China’s most significant listed steelmaker, Baoshan Iron & & Steel, expects the Simandou iron ore project in Guinea to finish facilities building and construction and my own its very first freight by the end of 2025, the business said on Wednesday. FULL STORY
China’s Sept iron ore aberration boosts smaller exporters: Russell
Source: Zawya
The detail of China’s record iron ore imports in September is likely to prove more interesting than the headline-grabbing surge above 100 million tonnes for the first time. FULL STORY
Rio Tinto signs MOU with China’s Nanjing steel on decarbonisation
Source: Market Screener
The world’s largest iron ore miner Rio Tinto said on Friday it signed a Memorandum of Understanding (MOU) with China’s Nanjing Iron and Steel Co (NISCO) on decarbonisation technology in ironmaking. FULL STORY
China’s HRC output slips for 3rd week
Source: Steel Prices
Production of hot-rolled coils (HRC) among the 37 Chinese flat steel producers Mysteel regularly monitors inched down for a third week during October 24-30 to 3.03 million tonnes, slipping by another 11,000 tonnes or 0.36% on week, the results of Mysteel’s weekly production survey show. FULL STORY
China’s steel demand will likely flatten in 2025, says industry official
Source: Steel Prices
Steel demand in China, the world’s largest producer and consumer, will likely flatten or dip slightly in 2025, industrial officials said, warning mounting risks facing steel exports due to growing trade frictions. FULL STORY
Elevated China steel exports set to persist, threaten to worsen trade friction
Source: Steel Prices
Chinese steelmakers, already exporting at near-decade high volumes, are set to keep pushing out shipments in 2025 to manage overcapacity and soft domestic demand, industry insiders and analysts say, threatening to worsen mounting trade frictions. FULL STORY
China’s rebar output touches intra-year high
Source: Steel Prices
After rising steadily since late August, rebar production among the 137 Chinese steel mills nationwide tracked by Mysteel hit the highest for the year during the week of October 17-23 at 2.51 million tonnes, up another 2.9% or 70,800 tonnes on week, according to the results of the weekly survey. FULL STORY
China establishes new centrally administered SOE on resource-recycling
Source: China Daily
China Resources Recycling Group Co., Ltd., a centrally administered State-owned enterprise (SOE), was officially launched at a founding ceremony in Tianjin on Friday. FULL STORY
Coal
NBS: China’s September coal output rises 4.4% YoY
Source: Mysteel
China’s output of all types of coal increased by a fast 4.4% on year in September to reach 414.46 million tonnes, the highest level since April 2023, according to the latest release from China’s National Bureau of Statistics (NBS) on October 18. The total was also higher by 4.5% from that recorded in August. FULL STORY
China’s portside thermal coal prices under downward pressure
Source: Mysteel
China’s thermal coal prices at northern transfer ports remained unchanged on October 5, as demand from coastal power plants showed no signs of recovery. This, coupled with growing port-wise inventories, may pose downward pressure on spot coal prices. FULL STORY
Coking coal prices rose in October amid China’s incentives
Source: Steel Prices
The coking coal market has shown some optimism since the end of September amid the stimulus announced by Beijing, but is in a state of uncertainty at the end of the current month. FULL STORY
Coal share in China’s energy consumption decreases over past decade
Source: Xin Hua
China’s energy consumption structure continues to improve, with a steadily decreased proportion of coal consumption in its total, according to an ongoing international mining industry conference. FULL STORY
Chinese buyers favor Indonesian low-CV thermal coal
Source: Mysteel
Chinese buyers showed increased buying interest in Indonesian thermal coal with low calorific value (CV) on October 25, considering its stable supply and considerable price advantages over China’s domestic comparable cargoes, sources noted. FULL STORY
GACC: China’s coal exports slump 50% MoM in Sept
Source: Mysteel
Total exports of all types of coal and lignite from China in September plunged by 50.3% on month to reach 480,090 tonnes, the lowest since June, according to the latest data from the country’s General Administration of Customs (GACC). The volume was still higher by 11.5% from September last year though, the Customs statistics show. FULL STORY
GACC: China’s coal imports hit new high in Sept
Source: Mysteel
China’s imports of all types of coal soared by 12.9% on-year to reach 47.59 million tonnes in September, as against 42.14 million tonnes in the same month last year, according to data released by the General Administration of Customs China (GACC) on October 14. FULL STORY
China’s coal-rich province reports rising raw coal output
Source: Xin Hua
China’s coal-rich province of Shanxi saw its raw coal output reach nearly 933.66 million tonnes in the first nine months of 2024, according to local authorities. FULL STORY
Grain
China’s 2024 grain output expected to hit record high amid grain security drive
Source: China Daily
China’s grain output is projected to reach a record high of 700 million tonnes this year amid the country’s efforts to ensure grain security, the Ministry of Agriculture and Rural Affairs said Friday. FULL STORY
China seeks stronger soybean ties with Russia
Source: Hellenic Shipping News
China is willing to cooperate more closely with Russia in the soybean industry, its agriculture ministry quoted an official as saying on Wednesday, without giving any details. FULL STORY
China significantly reduces its wheat purchases
Source: Ukr Agro Consult
China’s grain imports plunged in September.
Wheat imports were down 57 per cent year on year, while corn purchases plunged 81 per cent.
China’s domestic soybean meal stocks are expected to continue to decline in November
Source: Ukr Agro Consult
On October 31, China National Grain and Oil Information Center reported that domestic soybean meal stocks have continued to decline since September, falling from a high of 1.5 million tons in early September to a current level of about 1 million tons. FULL STORY
China imported soybeans at a near record pace in September
Source: Tridge
In September, China’s soybean imports decreased slightly from the record set in August but increased compared to the same month the previous year. The country imported 11.37 million tons of soybeans, down from August’s record 12.14 million tons but up from September of the previous year’s 7.15 million tons. The first nine months of the year saw a total import of 81.85 million tons, an 8.1% increase from the same period last year, making China the world’s largest importer of soybeans. The majority of these imports come from the United States and South American countries. FULL STORY
Chinese market may be opened for Ukrainian peas, flour, corn, beef and chicken
Source: Ukr Agro Consult
Ukraine and China are negotiating the opening of the Chinese market for a number of Ukrainian products of plant and animal origin. According to the State Service of Ukraine for Food Safety and Consumer Protection, this issue was discussed by its leadership with representatives of the General Administration of Customs of the People’s Republic of China with the participation of the embassies of both countries. FULL STORY
China’s soybean imports to China from the U.S. rose 13-fold in September
Source: Tridge
In September 2024, China’s soybean imports were 11.37 million tons, showing a 6.3% decrease from August but a significant 59% increase compared to the previous year. From January to September, imports totaled 81.85 million tons, marking an 8.1% rise year-on-year. Despite the September dip, high import levels are impacting soybean meal prices. Imports from the US have grown for six consecutive months, while Brazil remains the leading supplier with a 23% increase in shipments in September. Soybean meal stocks are declining due to reduced demand in the livestock and feed mill sectors. Analysts predict growth in the soybean meal market, driven by a record US soybean crop. UkrAgroConsult provides market intelligence on grains and oilseeds through its AgriSupp platform, offering a 7-day free demo. FULL STORY
Canada: Booming Chinese demand drives canola exports
Source: Tridge
The Canadian grain and oilseed sector is experiencing a significant reliance on Chinese exports, marked by a record import of 796,900 tonnes of grain, oilseeds, and pulses by China in August, mainly canola. This increase in canola exports happened before China announced an anti-dumping investigation, which is related to Canada’s higher duties on Chinese electric vehicles and tariffs on steel and aluminum. China’s record canola imports are driven by the need to enhance vegetable oil reserves amid a tight global palm oil market and a smaller domestic rapeseed crop, prompting a surge in Canadian canola exports for the 2024-25 crop year. However, exports may slow down due to potential anti-dumping tariffs affecting the 2025-26 marketing year. The article also references UkrAgroConsult’s AgriSupp platform for market intelligence on grains and oilseeds. FULL STORY
China’s soybean meal market continues to fall
Source: Ukr Agro Consult
According to the analysis of China’s national commodity market monitoring system, the domestic soybean meal market still maintains a downward trend, fluctuating during the first half of the month. The average market price of soybean meal fell by more than 4%. FULL STORY
Energy
Sinopec signs deal for 30m tons of LNG
Source: China Daily
China Petroleum and Chemical Corp (Sinopec) has signed a 15-year deal with TotalEnergies for 2 million metric tons of liquefied natural gas (LNG) annually from 2028, which is expected to further bolster TotalEnergies’ foothold in China’s energy market and advance the country’s clean energy goals, industry experts said. FULL STORY
Don’t get too excited about China’s growing natural gas use: Maguire
Source: Zawya
China has boosted imports of liquefied natural gas (LNG) this year to the highest since 2021 and has lifted natural-gas fired electricity generation to record levels. FULL STORY
CNOOC signs record-breaking contracts at CIIE
Source: China Daily
China National Offshore Oil Corporation (CNOOC) signed import contracts worth a record amount during the 7th China International Import Expo (CIIE), underway in Shanghai between Nov 5 and 10, the company said on Wednesday. FULL STORY
CNPC and ADNOC: a new chapter in energy cooperation for mutual benefit
Source: China Daily
Under the Belt and Road Initiative, China National Petroleum Corporation (CNPC) and the United Arab Emirates (UAE) have forged a robust partnership in the energy sector, achieving notable successes. The cooperation is anchored in the principle of “mutual benefit and prosperity,” fostering cooperation that spans energy development, technical services, and cultural exchange. The partnership has not only solidified the strategic ties between China and the UAE but also injected robust momentum into the transformation of the global energy industry.FULL STORY
China’s refining output set to fall this quarter on thin margins, weak need
Source: Energy News
Chinese refiners are anticipated to lower fuel output for the rest of the year and keep lower run rates in the very first quarter of 2025 regardless of a. seasonal need uptick, as revenue margins and fuel intake. in road transport stay weak. FULL STORY
China Gas and Vitol enter into a long-term swap arrangement
Source: Shipping Herald
China Gas Hongda Energy Trading and Vitol have entered into a long-term swap arrangement. As part of the agreement Vitol will purchase half a million metric tons of LNG from China Gas’ contracted US volume on FOB basis and sell half a million metric tons of LNG to China Gas on DES basis from 2029. FULL STORY
China’s surplus petroleum hits nearly 1 million bpd for September: Russell
Source: Energy News
The weak position of China’s petroleum sector was highlighted by September information showing a 6th consecutive regular monthly drop in refinery processing, causing nearly 1 million barrels each day of oil being offered for storage. China’s refineries processed 14.29 million bpd of crude in September, up somewhat from 13.91 million bpd in August, however down 5.4% from the same month in 2023, according to official information launched on Friday. FULL STORY
The Commodities Feed: Chinese oil import quota increased
Source: ING
Oil prices strengthened yesterday with little sign of de-escalation in the Middle East. FULL STORY
IEA sees surplus oil supply, weak China demand in 2025
Source: Business Times
China’s oil demand growth is expected to remain weak in 2025 despite recent stimulus measures from Beijing as the world’s No. 2 economy electrifies its car fleet and grows at a slower pace, the head of the International Energy Agency said on Monday. FULL STORY
China’s first “smart factory” for offshore oil, gas equipment fully operational
Source: Xin Hua
China’s first intelligent manufacturing base for offshore oil and gas equipment was put into full operation on Wednesday in north China’s Tianjin Municipality. FULL STORY
Weifang Port certified as China’s first zero-carbon emission port
Source: China Daily
Weifang Port, which is part of Shandong Port Group subsidiary Bohaiwan Port, said it had become China’s first zero-carbon emission port, marking a milestone in the country’s push toward sustainability and green development. FULL STORY