Shanghai steel prices rise on falling inventory

China’s Shanghai rebar recovered from a dip in the previous session after weekly inventory data showed firm demand from downstream sectors, even as a trade row with the United States intensified. Weekly stocks of steel products dipped 5,800 tonnes to just below 10 million tonnes as of Friday, data from consultancy Mysteel showed, with rebar
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The U.S. in the next five years will become an energy exporting powerhouse — rivaling Saudi Arabia in oil exports and growing into one of the world’s largest gas exporters, regardless of its trade spat with China, analysts said. China slapped tariffs on a range of oil products, liquid petroleum gas and coal, as well
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HAMBURG: The container shipping companies are faced with the perfect storm with the ever tighter environmental regulations coming into force and oil prices jumping, exerting further pressure on liners to squeeze out profit from the buoyant demand. Asset quality, size and diversification will determine the success of shipping companies in the next 18 months, German
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KOCHI: Indian seafood exports may show lower growth this fiscal as shrimp prices continue to remain low world over and cautious farmers go slow on production. While prices of shrimp, which dominates the seafood export basket, are down by 20% from last year, fear of white spot disease and lower prices had forced many farmers
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Brazil’s Vale , the world’s top iron ore producer, forecast stable iron ore prices and rising premiums for its top quality ore thanks to strong demand from China, despite global trade tensions. In a conference call a day after posting solid second quarter results, executives also said that a business plan for Samarco, a disaster-hit
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India’s coal imports appear to have surged in July and may even come close to a monthly record as it grapples with domestic transport woes and rising demand for electricity. Coal imports are on track to reach 19.7 million tonnes in July, according to vessel-tracking and port data compiled by Thomson Reuters Supply Chain and
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China’s vast steel sector is currently a study in contrasts, with record output despite ongoing production curbs, and high prices even though there is mounting concern about the demand outlook. It’s becoming increasingly difficult to reconcile the seemingly contradictory signals being sent by China’s steel industry, which accounts for about half of the world’s total
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Asian spot LNG prices averaged $9.58/MMBtu last week, down by 6.99% from the previous week and falling below the $10/MMBtu mark for the first time since mid-June. Sufficient stockpiles at terminals softened demand among buyers. Robust gas-fired power generation in China pushed up end-user prices for trucked LNG in 17 of the country’s 19 major
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The recent oil price recovery, combined with the cost-cutting measures undertaken during 2016-2017, has given fresh vitality to high-yield exploration and production (E&P), Fitch Ratings says. Even highly leveraged companies with relatively high production costs are now healthier and should be able to reduce leverage over the next two years thanks to positive free cash
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Asian crude oil buyers are booking cargoes from Europe, the Mediterranean and Africa after a sharp drop in Brent crude’s value against Middle East benchmark grade Dubai made the shipments profitable, industry sources said on Thursday. Traders have booked at least 10 million barrels of Russian Urals, Kazakhstan’s CPC Blend and North Sea crude to
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