Commodity market action from around the world with a focus on the commodities that matter most to investors in Hong Kong and China.
Last week India’s steel secretary said India was monitoring imports after the steel industry raised concerns over potential dumping by Chinese sellers.
Sinopec, PetroChina and CNOOC have not fulfilled the minimum requirements to align with the Paris Agreement and continue ‘to put investors at risk’, according to the think tank.
Charles Michel said Moscow’s offer of a million tons of grain to African countries was a ‘parody of generosity’ and that the 2022 grain accord had delivered to vulnerable countries more than 30 times the volume offered to Africa by Russia.
Both China’s exports and imports fell in August, with shipments to most of its major trading partners continuing to shrink last month.
While most of the planet’s 20 largest economies managed to reduce the amount of carbon dioxide they churn out by using coal to generate electricity, China emitted 3.10 tonnes per head of population last year, up 30 per cent from 2.38 tonnes in 2015, the report found.
Since Putin withdrew from the grain initiative, Erdogan has repeatedly pledged to renew arrangements that helped avoid a food crisis in parts of Africa, the Middle East and Asia.
Global rice prices have surged again after India imposed a total export ban, as analysts warn that poor consumers will feel the brunt.
A surge in retail prices has resulted in economic strain on Filipinos, particularly the underprivileged and marginalised, the president said.
China’s Sinopec is setting up a new entity to invest in refinery and petrochemical assets overseas in a bid to leverage its expertise and deep pockets to expand globally as local Chinese oil demand nears a plateau.
Several major wine-producing regions in France are struggling amid problems such as the cost-of-living crisis, Covid fallout and changes in consumer habits.
The Singapore-flagged BW Lesmes and the Cayman Island-flagged Burri were towed away after the tankers collided in the Suez Canal and caused a disruption in vessel traffic.
CNOOC plans to accelerate the integration of its new energy and oil and gas business after first-half net profit fell 11.3 per cent to US$8.7 billion due to declining crude prices.
The highest preliminary anti-dumping duties of 122.5 per cent will be imposed on imports from China, including its largest producer, Baoshan Iron and Steel.
Chinese-owned fleet reached 249.2 million gross tonnage, or 15.9 per cent of the market share, to edge ahead of Greece, according to Clarksons Research.
Rice prices have hit their highest level in 15 years after largest-exporter India restricted shipments. It’s bad news for consumers – but could be a boon for Thailand.
The US chain, which has about 800 outlets in India, now charges 40 cents extra for the slice but offers a free ‘cheezy’ sauce instead. And customers are not happy.
China’s exports dropped by the fastest pace since February 2020 in July, while imports fell by 12.4 per cent from a year earlier, data released on Tuesday showed.
Reeling from one storm and bracing for another, farmers in China’s top grain-producing region have appeared on social media begging for help protecting their crops, including rice, as food-security drive faces challenges.
Punitive trade tariffs, in place since April 2020, will go away on Saturday after a month-long delay by China to review the contested measures, and the move reflects how ties are warming with Australia.
Beijing says it is trying to ‘mobilise the public’ in a bid to exterminate the ‘rats’ and ‘moths’ – corrupt officials who put grain reserves and the nation’s food security at risk.
Tropical Hainan province’s first major durian harvest reflects challenges facing Chinese growers as they rush to cash in on surging domestic demand, and large-scale cultivation is still years away.
Ukraine will have to rely on expensive routes through Europe after Russia backed out of UN-led Black Sea grain deal this month, resulting in 10-15 per cent increase in global prices, the IMF estimates.
Against the backdrop of warming bilateral relations, Australian winemaker Penfolds recently unveiled its first wine made with Chinese grapes, in Shangri-La, Yunnan province, looking to circumvent Beijing’s tariffs.
Chinese firms like Sinopec, Wanhua Chemical and Zhejiang Petrochemical are moving from basic petrochemicals to making higher value products used in energy transition products.
West Texas Intermediate fell below US$77 a barrel as the Federal Reserve’s tightening cycle risks tipping the US, the world’s largest economy, into recession and potentially harming oil demand.