November 2024
Iron Ore & Steel
Baogang sees rapid growth in steel exports
Source: China Daily
With expanded reach to key global markets, Baogang Group said it has achieved growth in both scale and quality, as well as significant progress in steel exports. FULL STORY
Iron ore climbs on upbeat China data; falling demand caps gains
Source: Shipping Herald
Iron ore futures climbed on Monday, supported by upbeat factory data in top consumer China, but signs of faltering demand capped gains. FULL STORY
China-built railway plant starts operating in Algeria
Source: China Daily
A new railway sleeper plant built by China Railway Construction Corporation began operations in the Tindouf province of western Algeria on Sunday, marking a significant milestone in the launch of a major railway infrastructure project. FULL STORY
China’s October iron ore imports stay elevated on improved steel margins
Source: My steel
Chinese prices for imported iron ore continued rising over November 25-29, as demand for the feedstock from steelmakers was resilient despite their reduced production. Recently, many domestic mills have started to build up their ore stocks in preparation for winter production when raw materials supplies are sometimes disrupted, according to industry sources. FULL STORY
WEEKLY: China’s iron ore prices garner support from winter stockpiling
Source: Zawya
Global average steel prices are likely to trend downwards as China’s domestic demand is expected to soften owing to a sluggish property sector, a report by Fitch Solutions unit BMI said on Thursday. The research firm lowered its 2024 global average steel price forecast to $660/ton from $700/ton. FULL STORY
China’s scrap copper imports set to plunge over US trade worries, experts state
Source: Energy News
China’s imports of scrap copper are set to slump as some traders have actually suspended purchasing from the United States, the top supplier, due to stress over increasing trade stress under a Donald Trump presidency, experts said.FULL STORY
JFE Steel teams up with China Baowu affiliate on high-grade bar steel
Source: Zawya
Japan’s JFE Steel has agreed to set up a joint venture company with an affiliate of China Baowu Steel Group to produce high-grade bar steel in China, aiming to meet demand mainly from China-based Japanese automakers. FULL STORY
China’s HRC output edges up on week
Source: Steel Prices
Production of hot-rolled coils (HRC) among the 37 Chinese flat steel producers Mysteel regularly monitors totalled 3.19 million tonnes over November 14-20, ticking up by a small 33,400 tonnes or 1.08% on week, the results of Mysteel’s weekly production survey show. FULL STORY
Jan-Oct steel output dips 2.4% YoY at key Chinese steel hubs
Source: Steel Prices
Crude steel production among China’s top ten steelmaking provinces and autonomous regions totalled 609.57 million tonnes during this year’s January-October period, down by 2.39% on year, with seven out of the ten posting on-year declines in output, according to the latest data from the country’s National Bureau of Statistics (NBS). FULL STORY
Chinese steel exports are booming but here’s why that won’t last
Source: Steel Prices
China’s steel exports have exploded higher. History suggests it can’t last.
Steelmakers in the world’s biggest producer are leaning heavily on overseas sales to soak up a surplus caused by the country’s years-long property crisis. But they’re running into dumping accusations from importers and a protectionist Donald Trump will soon be back in the White House. The flare-up in tensions is starting to resemble the industry’s last trade crisis of nearly a decade ago. FULL STORY
Coal
China’s cut to coal power share is a rare but key climate win: Maguire
Source: Zawya
Reduced coal reliance by the world’s second-largest economy is a rare bright spot this year for climate trackers, who were disappointed by the recent COP29 meetings and are bracing for the United States’ withdrawal from the Paris Accord next year. FULL STORY
China’s energy production maintains steady growth in Oct
Source: China Daily
China’s energy production maintained stable growth in October, data from the National Bureau of Statistics showed last Friday.
Output of raw coal rose 4.6 percent year-on-year to 410 million tons, while crude oil output increased 2.5 percent from a year ago to 17.77 million tons. FULL STORY
China National Coal Group’s new energy project connects to grid
Source: China Daily
China National Coal Group Corp’s first million-kilowatt level new energy project connected to the grid and started power generation by the end of October, said the company on Tuesday, marking the fossil fuel company’s latest attempt to develop renewable energy and advance their green transition. FULL STORY
DAILY: Coking coal trades cooler in Chinese market
Source: Mysteel
Coking coal transactions in the Chinese market cooled further on November 27, as buyers preferred to shelf their purchase plans as market sentiment turned more bearish, Mysteel has learned. FULL STORY
GACC: China’s coal exports grow 11% MoM
Source: Mysteel
Total exports of all types of coal and lignite from China in October rose by 11% on month to reach 535,230 tonnes, according to the latest data from the country’s General Administration of Customs (GACC). The volume was also higher by a hefty 82% from October last year, the Customs statistics show. FULL STORY
GACC: China’s Oct thermal coal imports surge 32% YoY
Source: Mysteel
China’s thermal coal imports in October remained robust at 35.15 million tonnes, soaring 31.9% compared to the same month last year, according to new data from the General Administration of Customs of China (GACC). FULL STORY
NBS: China Shanxi’s raw coal output falls 3.6% YoY in Oct
Source: Mysteel
Northern China’s Shanxi province produced around 112 million tonnes of raw coal in October, lower by 3.6% on year and 5.1% on month, respectively, according to the latest statistics from the National Bureau of Statistics (NBS). FULL STORY
GACC: China’s coking coal imports jump 27% YoY in October
Source: Mysteel
China’s total imports of coking coal from all origins jumped by 27.4% in October compared with the same month last year to top 9.96 million tonnes, according to the latest data released by the country’s General Administration of Customs published on November 20. The total was lower by 4% from September, however. FULL STORY
NDRC: Coal stocks at China power plants sufficient for over 30 days use
Source: Mysteel
China’s energy supply is well-prepared to meet demand during the ongoing winter heating season, with coal and natural gas supplies effectively secured, stated Li Chao, spokesperson of the National Development and Reform Commission (NDRC), at a press conference on November 19. FULL STORY
Soybean
Opportunities abound for China, US to expand agricultural trade, exec says
Source: China Daily
China is likely to import 30 million metric tons of soybeans from the United States during the 2025 marketing year — from Sept 1,2024, to Aug 31, 2025 — and the two countries have ample opportunities to expand agricultural cooperation, said a senior executive of the US Soybean Export Council. FULL STORY
China is in no hurry to buy Ukrainian corn
Source: Ukr Agro Consult
Ukraine exported more than 4.5 mln tonnes of corn in July-October of 2024/25 MY. This was reported by the Ukrainian Grain Association on Facebook. FULL STORY
Will China turn to Argentina to fill its farming import gap? Wheat and see
Source: Ukr Agro Consult
Argentinian firms have expressed an interest in boosting their agricultural shipments to China, welcome news for Beijing as it seeks alternative sources for its staple crops amid tension with the United States that appear unlikely to abate. FULL STORY
Argentina Seeks Its First Wheat Shipments to China in Decades
Source: Ukr Agro Consult
Argentina wheat traders are seeking to close their first significant sales to China since the 1990s, according to the head of the country’s top crop-exporting group. FULL STORY
Malaysian palm oil extends losses amid China tariff fears, weak demand
Source: Business Recorder
KUALA LUMPUR: Malaysian palm oil futures closed lower for a second consecutive session on Thursday, as fears of US tariffs imposed on China and muted demand for palm sparked a sell-off in the vegetable oils market. FULL STORY
China expects growth in rapeseed production in MY 2024/25
Source: Ukr Agro Consult
Analysts of the Foreign Agricultural Service of the U.S. Department of Agriculture (FAS USDA) in China forecast soybean seed production in the country in MY 2024/25 at the level of 1.12 million tons, which is 3% below the level of the previous season. Analysts believe the reason for the reduction is a 5% decrease in soybean acreage to 406,000 hectares. At the same time, the yield is expected to increase by 2%. FULL STORY
China’s soybean production, imports steady
Source: World Grain
Soybean production in China for marketing year 2024-25 is forecast 19.9 million tonnes based on higher yield and a planted area of 9.95 million hectares, a prelude to projected imports of 104 million tonnes, according to a report from the Foreign Agricultural Service (FAS) of the US Department of Agriculture. FULL STORY
China set for record soybean imports in 2024
Source: Tridge
China imported 8.09 million metric tons of soybeans in October with buyers rushing to stockpile before Donald Trump takes office early next year, as the world’s top soybean buyer heads for its largest annual imports on record. FULL STORY
Ukraine. List of barley, corn and soybean exporters to China has been compiled
Source: Ukr Agro Consult
The State Service of Ukraine for Food Safety and Consumer Protection has compiled lists of persons planning to export barley, corn and soybeans to China and lists of storage facilities from which such exports are planned. FULL STORY
Energy
Global energy giants ramp up China presence
Source: China Daily
The rapid growth in China’s petrochemicals output, part of the nation’s drive for self-sufficiency and to climb up the global value chain, is reshaping global oil demand and drawing greater interest from multinational companies seeking a foothold in the world’s largest consumer market, said industry experts and company executives. FULL STORY
After decades, China sputters as engine of global oil demand growth
Source: Zawya
China’s crude oil imports are on track to peak as soon as next year as transport fuel demand begins to decline for the world’s top crude buyer, ending the country’s decades-long run as the dominant driver of expanding oil consumption. FULL STORY
China sees record maritime trial case volume with robust infrastructure
Source: China Daily
China has boasted the largest number of maritime trial courts and the most comprehensive maritime trial system in the world, handling both the highest volume and widest range of maritime cases, according to the Supreme People’s Court. FULL STORY
China, Brazil oil cooperation to boost energy security
Source: China Daily
China and Brazil have been strengthening collaboration in deep-sea oil and gas exploration in recent years, with analysts and industry leaders seeing this as a strategic move to enhance energy security and drive technological innovation for both countries.FULL STORY
China, Saudi JV project starts construction
Source: China Daily
The new integrated refining and petrochemical complex in Fujian — the province’s largest industrial investment to date that kicked off construction on Monday — underscores the deepening ties between China and Saudi Arabia in the energy sector, said industry experts and company executives. FULL STORY
What’s driving decreasing gasoline consumption in China?
Source: EIA
Gasoline consumption in China has begun to fall in recent months amid increased sales of electric vehicles, slow economic growth, and population decline. FULL STORY
China’s LNG imports set to slow: Kemp
Source: Zawya
LNG imports ran above prior-year levels every month between January and May, and pipeline imports were also above prior-year levels in every month except April. FULL STORY
China completes full pipeline for Power-of-Siberia gas
Source: World Pipelines
Reuters reports that China has built and connected the 5111 km (3175 mile) Power-of-Siberia pipeline to deliver gas from Russia’s Siberian fields to users as far as the financial hub of Shanghai, Chinese state media reported on Monday 2 December, 2024. FULL STORY
China’s energy production maintains steady growth in Oct
Source: China Daily
China’s energy production maintained stable growth in October, data from the National Bureau of Statistics showed last Friday. FULL STORY
China delivers LNG ship with Mark III membrane system to Abu Dhabi company
Source: China Daily
China’s first large-sized liquefied natural gas carrier featuring Mark III technology was delivered two months ahead of the contract delivery date on November 25 by Shanghai-based Jiangnan Shipyard (Group) Co Ltd. The vessel named “Al Shelila”, was ordered by Abu Dhabi National Oil Company. FULL STORY