Shanghai Steel Prices Edge up on firm Demand Ahead of Winter

Shanghai rebar steel futures inched up on Tuesday, buoyed by firm demand ahead of winter when construction usually slows in northern China due to frigid conditions and anti-pollution regulations. Stockpiles of steel products at Chinese traders fell by 370,000 tonnes to 10.3 million tonnes in the week to Oct. 19, according to data compiled by
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China’s steelmakers pushed production rates to record levels last month, according to official data, underscoring a bullish short-term picture for the world’s biggest market even as risks of a demand slowdown rise. Output of crude steel rose 7.5 percent on year to 80.85 million metric tons, the statistics bureau said Friday. That means a daily
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Chinese steel rebar futures dropped 3.5 percent in early trade morning adding to the 2 percent overnight drop on concerns that the country will abolish the mandatory winter shutdown requirement. The January contract sank the most yesterday since March to its lowest in more than six weeks, a Bloomberg report said. China is considering allowing
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The growth of U.S. LPG exports will outpace terminal capacity this winter, constraining LPG exports, according to ESAI Energy’s webinar U.S. Growing Pains to Upend LPG Trade & Demand. The export constraint will temporarily cause scarcity in Asia and the international market, driving up LPG prices relative to naphtha and causing feedstock switching in the
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State-run Korea Gas Corp (KOGAS) is in talks to buy 12 liquefied natural gas (LNG) cargoes for delivery in the winter months, two industry sources said. The company is still in discussion with sellers and is yet to award the contract, one of the sources familiar with the matter told Reuters. The cargo delivery period
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China’s natural gas imports from Central Asia, a long-time source of the fuel via pipeline, slipped last month, worsening a winter shortage and increasing the world’s biggest energy user’s reliance on seaborne supplies. Imports during January from Turkmenistan, China’s biggest overseas source of gas last year, dropped 14 percent from a year earlier, and 4
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