February 2025
Iron Ore & Steel
Iron ore logs monthly loss on China steel export concerns
Source: U.S. News
Iron ore futures prices fell on Friday and were set for monthly losses, pressured by U.S. tariff concerns and mounting trade frictions against Chinese steel exports. FULL STORY
World’s biggest miners pinched by iron ore’s China problem
Source: Mining
The world’s biggest miners, having cashed in on China’s once-rampant demand for iron ore, are starting to reel from the impact of their main customer’s economic struggles. FULL STORY
WEEKLY: Chinese mines’ iron ore output, stocks keep rising
Source: Mysteel
Production of iron ore concentrates among Chinese mining enterprises increased further in the past week as the recovered ore demand from steelmakers continued to lift domestic miners’ production activity, Mysteel’s latest survey showed. FULL STORY
WEEKLY: Aust., Brazilian iron ore shipments rise 6% WoW
Source: Mysteel
The total volume of iron ore dispatched to global destinations from 19 ports and 16 mining companies in Australia and Brazil under Mysteel’s tracking increased for the second straight week over February 24-March 2, up by another 6.3% on week to reach 27.4 million tonnes, with the shipping volumes continuing to rise from both countries. FULL STORY
WEEKLY: China mills’ imported iron ore stocks drop further
Source: My steel
Inventories of imported iron ore sintering fines stockpiled at the 64 Chinese steel mills under Mysteel’s coverage fell for the second week to 12.7 million tonnes as of February 12, though the on-week decline of 4.6% was smaller than the previous week’s 15.8% drop thanks to the recovery of ore replenishment among the mills, Mysteel’s latest survey results showed. FULL STORY
China’s BYD holds mining rights in Brazil’s Lithium Valley, documents show
Source: Mining
Chinese electric carmaker BYD acquired mineral rights for two plots of land in a lithium-rich part of Brazil in 2023, entering the mining business in its biggest market outside of China, according to public records reviewed by Reuters. FULL STORY
Pilbara Minerals sees lithium demand rallying on China mine restart
Source: Mining
Australia’s largest pure-play lithium producer Pilbara Minerals Ltd. said it sees demand recovering on the restart of a large mine and refinery in China, even as it reported a net loss in its half-year earnings. FULL STORY
China announces plans to cut steel production
Source: GMK
China plans to restructure its steel industry by cutting production in the sector. This was announced by the National Development and Reform Commission (NDRC) at the National People’s Congress in Beijing, Bloomberg reports. FULL STORY
China’s steel exports face rising trade barriers as antidumping cases surge
Source: S&P Global
Growing trade barriers against Chinese steel are expected to start impacting exports toward late 2025 with the pressure seen rising in 2026 as several cases are either under investigation or in the pipeline, steel industry participants told Platts, part of S&P Global Commodity Insights.
China’s Copper Imports from Congo Rise Sharply Due to Increased Mining Investments
Source: Supply Chain Report
In 2024, China saw a huge boost in its imports of refined copper from the Democratic Republic of Congo (DRC), which jumped by 71% to 1.48 million metric tons. This remarkable increase has made the DRC the top supplier of refined copper to China, beating out other established sources. FULL STORY
The massive Simandou iron ore mine could end Australia’s golden age of iron ore, or it can start a new one. Russell
Source: World Energy News
It is overused to the point of being meaningless. But the Simandou mine, located in Guinea, West Africa is a game changer. FULL STORY
Coal
China could restart import controls on coal as oversupply mounts
Source: Mining
China could reestablish import controls on coal, after leading industry groups warned on mounting oversupply in the world’s biggest market for the fuel, according to Morgan Stanley. FULL STORY
Yancoal earmarks $1.2 billion to fuel expansion plans
Source: Mining
Australia’s Yancoal (ASX: YAL) plans to invest its A$1.8 billion ($1.2bn) capital reserve, amassed during a three-year coal boom, into acquiring new assets, potentially beyond the home country and even outside the coal sector. FULL STORY
Column: China’s retaliation to Trump tariffs will reshape coking coal flows, prices
Source: Mining
China’s retaliatory tariffs against US energy imports is likely to be most keenly felt in the seaborne market for metallurgical coal. FULL STORY
China slaps extra 15% tariffs on US coal, LNG, 10% on US crude in Trump retaliation
Source: S&P Global
China is set to impose an additional 15% tariff on US coal and LNG, and 10% more on US crude imports from Feb. 10, its finance ministry said Feb. 4, in retaliation to US President Trump’s additional 10% tariffs on Chinese goods, effective Feb. 4. FULL STORY
Commodity Trading Giant Vitol Downsizes China Coal Business
Source: Oilprice
Vitol Group, the commodity trading giant, is reducing its thermal coal trading business in China that it has recently acquired, sources familiar with the plans told Reuters on Friday. FULL STORY
Mongolia seeks to boost coal exports to China with new rail link
Source: Mining
Mongolia plans to press China next week to approve a new railway link that could boost an already growing coal trade between the two countries. FULL STORY
China’s Insatiable Demand for Coal
Source: Oilprice
OPEC+ countries produced 40.54 million b/d in January, continuing a three-month streak of relative stagnation as month-over-month changes remained as low as 20,000 b/d amidst improved compliance. FULL STORY
Researchers say that China’s coal power construction in 2024 is at a 10-year high
Source: World Energy News
Researchers said that China has begun construction of 94,5 gigawatts in coal-fired energy in 2024. This is the largest number of new projects since 2015. It will hinder the country’s move away from fossil fuels. FULL STORY
Soybean
China is the largest consumer of Ukrainian meal
Source: Ukr Agro Consult
In February 2025, specialists of the Southern MDU of the State Service of Ukraine for Food Safety and Consumer Protection issued permits for the export of 164 thousand tons of Ukrainian meal at the state border. FULL STORY
China suspends soybean imports from 3 US companies
Source: China Daily
BEIJING – China’s General Administration of Customs (GAC) on Tuesday announced the suspension of soybean imports from three US enterprises after ergot and seed coating agent were detected in soybeans imported from the United States. FULL STORY
New terminal in Brazil strengthens China links
Source: China Daily
On the Atlantic coast in Santos, a bustling port city in Sao Paulo, Brazil’s most populous state, China’s leading food and agriculture company is launching a new terminal.. FULL STORY
Climate change is causing changes in crops in China
Source: Ukr Agro Consult
Since the 1980s, China’s food production has doubled mainly due to intensive nutrient management and irrigation.
China to further ramp up grain supply, safeguard security: official
Source: Global Times
China will continue to ramp up the supply of grains and other important agricultural products to safeguard food security, as the “No. 1 central document” stipulated, said Han Wenxiu, an executive deputy director of the Office of the Central Committee for Financial and Economic Affairs, on Monday.
Malaysia’s Palm Oil Exports to China Down 2.3% in 2024
Source: Ukr Agro Consult
Malaysia and China will continue to strengthen cooperation in palm oil supply and market expansion, said Deputy Minister of Plantations and Commodities Datuk Chan Foong Hin. The two countries will work together to upgrade the industry and expand the use of palm oil in food, oleochemicals and renewable energy. This was stated by Datuk Chan Foong Hin in his speech at the official opening of the International Oils and Fats Forum. The forum was organized by the Ministry of Plantations and Commodities jointly with Beijing Heyirong Invest Group and the China-Malaysia Qinzhou Industrial Park with the support of the Dalian Commodity Exchange (DCE). FULL STORY
Malaysia, China to reinforce ties in palm oil supply chains
Source: Ukr Agro Consult
Malaysia and China will further strengthen collaboration in palm oil supply chains, technological innovation, and market expansion this year, said Deputy Plantation and Commodities Minister Datuk Chan Foong Hin. FULL STORY
China to develop new varieties of wheat, corn and soybeans to reduce dependence on imports
Source: Ukr Agro Consult
On Friday, China issued guidelines to promote biotech farming, focusing on gene editing tools and the development of new varieties of wheat, corn, and soybeans. Reuters reports. FULL STORY
China’s shifting grain game is creating ripples across the global market
Source: Drewry
China’s evolving grain import strategy reflects its increasing focus on domestic production to enhance food security and support local farmers. This shift is reshaping the global grain trade, particularly the tonne-mile demand for Panamax vessels, by reducing their rates on specific trade routes. FULL STORY
Energy
China discovers 180-mln-tonne shale oil reserves
Source: China Daily
BEIJING — Sinopec, China’s largest oil refiner, on Monday announced the discovery of two major shale oilfields in the east of the country with combined proven reserves of 180 million tonnes. FULL STORY
CNOOC’s Buzios7 project begins production in Brazil
Source: China Daily
CNOOC Limited announced on Monday that its Buzios7 project, located in the Santos Basin off the southeast coast of Brazil, has safely commenced production.
Has China’s Oil Demand Peaked?
Source: Oilprice
• China’s crude oil imports fell 1.9% to just over 11 million bpd in 2024.
• According to China National Petroleum Corp, sales of both road fuels peaked in 2023.
• Over the past three decades, China has accounted for half of all growth in the world’s oil demand–some 600,000 b/d.
Rising fuel oil tax burden forces Chinese independent refineries to scale back operations
Source: S&P Global
The increased tax burden on imported feedstock fuel oil has forced some Shandong-based independent refineries in China to shut their primary facilities in February, potentially threatening their survival, refinery and trade sources told Platts on Feb, 20.
China’s CNOOC to launch refinery expansion after $2.7 billion upgrade, sources say
Source: Market Screener
China National Offshore Oil Company (CNOOC) is slated to launch an upgraded joint-venture refinery complex around June, marking the state-controlled producer’s further expansion into refining and petrochemicals, industry sources said. FULL STORY
Russell: China’s commodity imports will continue to decline until 2025 due to economic and trade concerns
Source: World Energy News
China’s imports have been weak in 2025. This is in line with the recent trend of a softer economy.
According to data released by the official customs on Friday, imports of crude, natural gas and iron ore, as well as copper, have all decreased in the first half of this year when compared to the same period of last year. FULL STORY
China finds oil, gas field in Beibu Gulf
Source: Xin Hua
The China National Offshore Oil Corporation (CNOOC), one of the country’s oil giants, announced on Thursday that it has made a major breakthrough in the exploration of oil and gas in the Beibu Gulf Basin, having identified an oil and gas pay zone in its Weizhou 10-5 field.
Shanghai Port becomes world’s largest automotive shipping hub
Source: Shanghai
Shanghai Port has become the world’s largest automotive shipping hub, handling 3.63 million vehicles in 2024, a 15 percent increase year-on-year, according to Shanghai Customs.