RSS News

India may be able to export only 1 million mt of wheat to Egypt in marketing year 2022-23 (July-June) due to quality and logistics issues, trade sources told S&P Global Commodity Insights. This comes after the Indian government announced plans to raise exports to Egypt to around 3 million mt in MY 2022-23 after it […]

Vietnam was the leading destination for India’s finished steel products in fiscal year 2021-22 (April-March), despite a 22.9% year on year drop, provisional data from the Joint Plant Committee showed April 19. About 1.70 million mt of steel was shipped to Vietnam in FY 2021-22, JPC’s data showed, as the Southeast Asian country reduced its

Japan intends to focus on supporting Japanese companies’ involvement in LNG expansion projects in order to secure additional supply in a speedy manner, Minister of Economy, Trade and Industry Koichi Hagiuda said April 15, as the country accelerates its efforts to reduce its Russian energy dependency. “We intend to support Japanese companies on increasing their

Most of market participants expect Brazilian finished steel prices to inch up further in April due to higher costs, increasing export allocations from mills, data from the monthly steel sentiment survey by S&P Global Commodity Insights showed. In the survey of Brazilian producers, distributors, traders and end-customers conducted from late March to the beginning of

The US’ domestic beverage industry has paid more than $1.4 billion in aluminum tariffs since they were implemented in 2018, which has subsequently inflated prices for producers and consumers, the Beer Institute said April 14. “The fastest way to alleviate these high prices on American businesses and families is to repeal the tariffs,” Beer Institute

Trading volumes for scrap futures contracts on the London Metal Exchange gained in the week to April 13, while the volumes dropped for rebar futures contracts. S&P Global Commodity Insights’ Platts assessed the April contract down $18/mt on week to $619.50/mt on April 13. The May contract fell $20/mt to $610/mt, while the June contract

The World Steel Association forecasts steel demand to edge up 0.4% in 2022 to 1.84 billion mt and grow a further 2.2% in 2023 to 1.88 billion mt, according to its Short Range Outlook released April 14. Steel demand rose 2.7% in 2021 to 1.83 billion as recovery from the pandemic was stronger than expected

China’s lithium consumption is expected to slow down slightly in April from March amid high raw material prices and pandemic-led disruptions, industry sources said March 14. China is currently facing a severe pandemic wave, the worst in two years, bringing logistical operations and consumption to a screeching halt. Demand from cathode material producers has slightly

Alcoa has energized the first 20 smelting pots at its Alumar aluminum smelter in Sao Luis, Brazil, to begin the plant’s operational restart, the company said April 13. “The restart of Alumar will build on our competitive strengths in the global and local marketplace and expand our ability to supply growing demand for sustainably-sourced aluminum,”

Liege Commercial Court in Belgium has rejected steelmaker Liberty Steel’s restructuring plans for its Liege subsidiary and ruled April 13 that it should be liquidated. The court ruled against the restructuring April 13, siding with workers unions and the Walloon regionl government’s investment arm Sogepa, which no longer wanted the two Belgian steel plants, Tilleur