Host Newsroom 10.5.2017
Reuters: METALS-Nickel, Zinc Lead Metals Up Amid China Supply Concerns
Nickel and zinc led most base metals higher on Wednesday, building on overnight gains amid mounting supply concerns in China. Commodity traders said the market was still digesting the impact on China’s future imports of its environmental crackdown on ageing metals and mining operations. Read more.
Agrimoney: Ag Commodities 'Seem to be in Early Days of a Bull Market'
Farm commodities appear to be "in the early deals of a bull market", according to the operator of the Bcom index, proving particularly upbeat over prospects for corn, soybean and wheat prices. Bloomberg Intelligence acknowledged that the depression in the Bcom agriculture index, as measured on a spot basis, was reaching "historic extremes" in terms of its weak performance. Read more.
The Motley Fool: Why Alcoa Corp Stock Didn't Plummet When Aluminum Prices Tanked in September
Aluminum producer Alcoa Corp's (NYSE:AA) stock ended September up around 6%. That may not sound like much until you consider that competitor Century Aluminum Company (NASDAQ:CENX) fell 15% in the month. Some of Century's drop was just giving back a part of the huge gains it saw in August, but there's more to understand here. Read more.
MetalMiner: China’s Aluminum Curtailments Called in Doubt
A Reuters report last week suggests relief in sight for Western manufacturers of aluminum semi-finished products under pressure from growing Chinese exports. Headlining how China’s semi-finished aluminum exports fell for a third straight month in August, the article cites punitive duties imposed by the United States and India on Chinese aluminum foil as a reason for the decline. Read more.
Nikkei Asian Review: Asian Iron Ore Prices Slide 20% from August Peak
Asian prices for iron ore and coking coal have plunged as an anticipated slowdown in Chinese steel production weakens demand, a trend that could provide wider margins for Japanese steelmakers enjoying brisk business for automotive applications. Read more.
FREIGHT & LOGISTICS NEWS
Hellenic Shipping News: Dry Bulk Newbuilding Orders Pick up on Improving Market Sentiment
Shipbrokers are reporting multiple newbuilding ordering activity over the course of the past week, mainly as a result of improving market sentiment in the dry bulk segment. In its latest weekly report, shipbroker Allied Shipbroking said that “after a period of poor activity, an interesting week was due for the new building sector, with many new contracts being reported. Read more.
Mashable: Driverless, Unmanned Freight Trains are One Step Closer to Reality with Pilot Run
One of Rio Tinto's trains has completed a near 100 kilometre pilot run without a driver on board, making it the first ever fully autonomous heavy haul train journey ever in Australia, according to a company statement. The trip was supervised in real-time by Rio Tinto teams and rail safety authorities. Read more.
Kitco: Baltic Index Falls as China Holiday Hits Vessel Activity
The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, fell 1.5 percent on Tuesday, hurt by limited vessel activity due to an ongoing holiday in major consumer China. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was down 20 points, or 1.51 percent, at 1,308 points. Read more.
Platts: Ohio River Coal, Barge Traffic Delayed After Lock Closure
The Ohio River remained clogged with coal and other commodity barge traffic Monday after an equipment failure closed Locks and Dam 53 near Brookport, Illinois. A hydraulic malfunction on a lock gate closed the facility, bringing traffic to a halt midday Sunday, said Carol Labashosky, the US Army Corps of Engineers' Louisville District public affairs officer. Read more.
Hellenic Shipping News: Dry Bulk: Indian Coal Imports Roars Back in September
A month ago, we highlighted the fundamentals impacting Indian coal imports looked more promising. At that time trade flow data indicated imports in August of about 15Mt. Read more.
Platts: Dry Bulk: Shifting Fundamentals in US Gulf Coast Depress Supramax Freight
Supramax freight rates in the US Gulf Coast ticked lower this week, as easing tonnage in the region against reduced prompt requirements allowed charterers to pile pressure on shipowners and operators. Read more.