Posts Tagged ‘China’

Chinese New Year sees no-monkeying-around stance on steel overcapacity

As China takes off for the new Year of the Monkey, the mood for many in its steel industry will decidedly be sombre, judging from the recent slew of warnings several steelmakers have issued, predicting massive losses for 2015.

Read the rest of this entry »

Go for launch: The space race for mining metals from asteroids gains more focus

The Luxembourg Government announced a series of measures on Feb. 3 that will boost asteroid mining and the visionary use of space resources, according to a statement from the country’s Ministry of the Economy.

It’s the stuff of George Lucas, Jules Verne and James Cameron.

Read the rest of this entry »

How quickly can Iran get its oil groove back? — Fuel for Thought

Iran’s speed of re-integration into the global oil market is a million b/d question mark hanging over the industry.

How much additional oil will flow from Iran will depend on how quickly Tehran can ramp up after several years that effectively shut in a chunk of its production and how fast it can make new inroads into an already crowded market.

Read the rest of this entry »

The dying embers of Britain’s blast furnaces

Blast furnaces across the UK are under threat as the steel industry bounces from one crisis meeting to another. And, as the last flames in the furnaces flicker in the headwinds, commentators are scrambling to find out what has gone wrong.

Read the rest of this entry »

US steel wonders if interventions are enough to keep imports at bay

A couple decades or so ago, Bethlehem Steel, then the USA’s second largest steelmaker, introduced a team of trade attorneys as it was about to embark on another round of massive unfair trade case filings against steel imports.

It wasn’t unusual for mills to have trade case attorneys, either in-house or on retainer, but Bethlehem was making a statement: This is how we roll. International steel dumpers, we’re coming to get you.

Read the rest of this entry »

China or Gulf: Which side of the force will prevail on CIS/Turkish steel?

The New Year has started for the CIS and Turkish longs steel markets with mixed signals, as the price sentiment in China increased slightly but the latest geopolitical uncertainty in the Gulf area raised concerns for the future market demand developments.

Read the rest of this entry »

All eyes on 2017. Yes, 2017, if you’re in the metals world

Guess what, it’s official: 2015 was a terrible year for commodities. Analysis is starting to flow into inboxes of those involved in the business, and all appear to confirm that 2015 was a crushing year for commodities, with little joy forecast for this year.

The Bloomberg Commodity Index (BCOM), a measure of investor returns in raw materials, tumbled 25% in 2015, a fifth straight annual loss and the longest slide since the data began in 1991.

Read the rest of this entry »

If you’re a steelmaker, it’s all about China, baby

Anglo American said recently it would scrap its dividend this year and next, hugely reduce capex and look to sell all its lossmaking assets. The move — deemed unsurprising by some and insufficient to a few — is a testimony to the primary issue facing the ferrous mining and metals market: China’s slowdown.

Read the rest of this entry »

Nigerian crude no longer the ‘talk of the town’

“It is a buyer’s market.” This phrase is omnipresent on most oil trader’s lips these days as crude oil prices continue to slide. None typifies this better than the current state of the Nigerian crude oil market. Overhang, glut, oversupply, unsold barrels, are some of the words most associated with Nigerian crude.

Read the rest of this entry »

Ticket to ride: Energy outlooks and the few who benefit

If you’ve been involved in any conversations about energy in 2015, there’s very much a sense the industry is gritting its teeth and just trying to get through this period of sustained low prices. And if you’ve looked at any forecasts about prices, supply, demand and production into the near future, it’s clear why there’s a prevailing sense of grim determination.

The Platts Global Energy Outlook Forum was held today in New York, and while there was still a feeling of caution about what the future will bring, there were also glimmers of hope for growing energy consumption to support producers. Well, glimmers of hope for some countries, anyhow.

Read the rest of this entry »