- Friday March 24,2023
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Steel products prices in China continued to move up in mid-Mar (Mar11-20).
The average price of construction steel rebar (HRB 400, 20mm) at 25 major cities in China stood at 4,272.6 yuan/t, up 46.4 yuan/t or 1.1% from ten days earlier, NBS data showed.
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Global crude steel production fell 1% YoY to 142 Mt in Feb, showed data from WSA. In Feb, the top ten crude steel producers were China, India, Japan, the U.S., Russia, South Korea, Germany, Brazil, Iran and Turkey.
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Daily crude steel output at key member firms of China Iron and Steel Association (CISA) stood at 2.25 Mt during Mar 11-20, rising 4.71% compared with the previous ten days, the CISA data showed.
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Luo Tiejun, vice president of the China Iron and Steel Association, said half of domestic steel companies were in the red in the first two months of the year. He also warned that the decline in new construction in the real estate industry and the fall in manufacturing export orders will continue to dampen steel demand in the coming months.
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Bayi Steel, one arm of China's steel giant Baowu, signed an agreement with Mongolia Energy for raw material procurement for 2023.
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Mongolia's coal shipment through railway was registered at 1.26 Mt in Feb, up 32.21% YoY but falling 14.58% MoM, snapping the sixth straight month of increase, showed data from Mongolian statistical authority.
- Thursday March 23,2023
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On Mar 22, the Baltic Dry Index fell further and hit the biggest one-day drop since mid-Feb, as demand for larger ships weakened. The BDI fell 56 points, or 3.7%, to 1,456 points.
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On Mar 22, China's spot steel market registered price declines in most major trading places. Tangshan Qian'an common square billet prices fell 20 yuan/t to 3,900 yuan/t, ex-mill with VAT. In terms of transactions, affected by the mentality of "buying in the uptick and retreating in the downtick", most downstream users were cautious of purchases.
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NW China's Ningxia autonomous region produced 14.85 Mt of coal from Jan to Feb, up 0.2% YoY, local economic planner said.
- Wednesday March 22,2023
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Australian coal company New Hope Corp. reported a 103% year-on-year surge in profit during Aug 2022-Jan 2023, the first half of the FY2022-23, driven by a surge in global commodity prices amid the Russia-Ukraine conflict.
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Russia plans to increase its coal exports to the Asia-Pacific region in 2023, according to a statement from Russian Deputy Energy Minister Sergey Mochalnikov, who added the country had exported more than 140 million tonnes of coal to the region in 2022, and that the figure is expected to rise even further this year.
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On Mar 22, Chinese President Xi Jinping and Russian President Vladimir Putin signed a joint statement to deepen the comprehensive strategic partnership of coordination between the two countries for the new era. The document includes plans to enhance energy cooperation, including oil and gas, coal, electricity, and nuclear energy. Additionally, the two countries agreed to promote initiatives to reduce greenhouse gas emissions, such as utilizing low-emission and renewable energy.
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Coal exports from the three major North Queensland terminals were 9.57 Mt in Feb, up 3.12% YoY but down 2.05% MoM, sinking to the lowest in ten months, showed data from North Queensland Bulk Ports Corporation.
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China Coal Energy Co., Ltd saw its polyolefin production fall 15.8% YoY and 10% MoM to 117,000 t in Feb, the company said in a report on Mar 20. The polyolefin sales surged 25.5% YoY and 44.6% MoM to 133,000 t.
- Tuesday March 21,2023
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India's state-run miner Coal India Ltd. plans to supply 156 Mt of coal to domestic power utilities during the peak season Q2, during which scorching temperatures are expected to boost air-conditioning usage.
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