US Crude Oil inventory Increase by 1.837 Million Barrels the End of 2023
Crude oil inventory in the United States increased by 1.837 million barrels this week for the week ending the 22nd of December, according to The American Petroleum Institute (API), following a 939,000-barrel build the previous week. According to API data, the United States’ crude oil inventory have increased by a net amount of slightly over
China will impose stricter regulations on steel production in order to achieve extremely low emissions.
Steel production must be kept within reasonable bounds in order for China’s steel industry to be revitalised as part of the ultra-low emission reform, according to Shree Metal Prices, this was stated by Luo Tiejun, vice president of the China Iron or Steel Association (CISA). China will closely regulate the recently increased steel capacity. And
India coal imports decreased by a significant 17% YoY.
According to the most recent data, India has seen a significant 17% year-over-year decline in the volume of coal imports as a result of rising prices. The report, which is part of the LSEG Workspace edition, emphasises the problems the rising cost of coal is causing for the economy. The dynamics of the world energy
India’s Steel Industry Demonstrates Strong Expansion, Potential for Election-year Deceleration
India’s steel demand is expected to continue growing in 2024, despite predictions from experts and industry insiders of a possible slowdown. According to Shree Metal Prices, the impending general elections in 2024 are expect to have an effect on government spending, possibly reversing the upward trend. The overall steel industry’s boom is closely correlat with
Gold Prices is Nearly at a 2-week High as the Dollar Declines
Tuesday’s increase in gold prices during European trade marked the third straight day of gains and nearly reached two-week highs as the dollar depreciated against its main competitors. An early the United States interest rate reduce in March was made possible by failing US data and pessimistic statements made by Fed officials. Following a two-week
Us Pig Iron Imports From Ukraine Fell by 1.3% in Prior Month
US steelmakers lowered their pig iron imports from Ukraine to 30.05 thousand tonnes in October 2023, a 1.3% decrease from the previous month. The supply of raw materials decreased by 20.5% from October 2022 onwards. UN Comtrade data corroborate this. US steelmakers used 871.31 thousand tonnes of pig iron produced in Ukraine between January and
Ukrainian Railways (UZ) made a profit of UAH 460.11 million in 2023 by selling 76.39 thousand tonnes of ferrous scrap in the Prozorro
Ukrainian Railways (UZ) made a profit of UAH 460.11 million in 2023 by selling 76.39 thousand tonnes of ferrous scrap through the Prozorro.Sale system. Revenue fell by 31.3% and raw material sales fell by 32.4% as compared to 2022. As a result, UZ was able to conduct 101 raw material auctions throughout the year. The
China Incorporates Lithium Chloride Into Import Tariffs Plan, Going Into Effect in 2024
On December 20, 2023, the Customs Tariff Commission of the State Council announced that changes will be made to the import and export tariffs on certain goods, effective January 1, 2024, in accordance with “The Rules of the People’s Republic of China on Export and Import Duties” and other pertinent provisions, in order to fully,
Taiwan’s orders for basic metal exports decreased by 22.3% Jan to Nov
Taiwan’s Ministry of Economic Affairs released data showing that the country’s basic metal or basic metal product orders for export reached $2.07 billion in November of this year. This represents a decrease of 0.3 percent from November 2022 and an increase of 4.5% from the previous month. Taiwan’s export orders for basic metal or basic metal
Poland’s steel output decreased by 9.7% on a month-to-month basis in November
November 2023 saw a 9.7% decrease in Poland’s steel output from the previous month, totaling 521 thousand tonnes, by Polish steelmakers. Statistics from the World Steel Association support this. In November 2023, Poland’s steel output rose by 26.2% on an annual basis. Polish steel producers produced 5.96 million tonnes of steel between January and November