Rose Farming News

  • Rail exports of Russian coal improve

    Russian coal shipments for export fell slightly in April from March but were 5.5pc above the same period last year, reflecting higher supplies to ports amid firmer demand from customers in Europe and southeast Asia. Export growth could reflect attractive prices for Russian coal and other origins after falling at the beginning of this year. Russian coal deliveries by rail to northwestern ports ...


    By Argus Media Ltd.

  • South Korea, Philippines look to FTA deal

    South Korea and the Philippines are working toward a free trade agreement (FTA) that could lead to increased petrochemicals and oil products trade. Trade officials agreed last week to pursue a bilateral FTA, which they aim to complete before a South Korean summit with the Association of Southeast Asian Nations is held in November. With South Korea's economy slumping, as GDP contracted by 0.3pc in ...


    By Argus Media Ltd.

  • SK’s EV battery backlog surges on strong demand

    South Korea's SK Innovation is struggling to expand production quickly enough to keep up with new orders for electric vehicle (EV) batteries. The firm's order backlog for EV batteries has increased by 30pc to 430GWh since the end of last year alone. The backlog has surged as much as sevenfold since the end of 2017 and 13-fold since the end of 2016, the company said today. The 100GWh of orders ...


    By Argus Media Ltd.

  • SSAB uninterested in Tata/ThyssenKrupp assets

    Swedish steelmaker SSAB has no interest in acquiring any of the assets India's Tata Steel and producer ThyssenKrupp may divest to facilitate their joint venture, CEO Martin Lindqvist said on a call today. Remedies put forward by the pair, focusing on packaging steel and hot-dip galvanised, would not really fit with SSAB's business plan. The company is looking to pursue bolt-on acquisitions in its ...


    By Argus Media Ltd.

  • Weak demand weighs on China’s Ce oxide prices

    Cerium oxide prices in China are expected to fall further in the near term because of weak demand from the polishing powder sector. Prices for 99.5-99.9pc cerium oxide declined to 11,800-12,300 yuan/t ($1,760-1,830/t) on 23 April, down by around 7.7pc from Yn12,700-13,400/t on 2 January. Several small suppliers have reduced their offer prices to as low as Yn11,500/t to attract sales. Cerium oxide ...


    By Argus Media Ltd.

  • Caterpillar sees steel prices falling in 2019

    Caterpillar expects US steel prices to fall in 2019, which should help lower costs for the heavy equipment manufacturer. Manufacturing costs for Caterpillar increased by $375mn year over year in the first quarter because of higher material costs, freight and variable labor, the company said today. The costs are expected to come down as steel prices fall, said chief executive Andrew Bonfield on ...


    By Argus Media Ltd.

  • Kaiser braces for impact after Boeing cuts

    Boeing's cutback in 737 MAX aircraft production following crash investigations will introduce uncertainty into the US aerospace market going forward, said Kaiser Aluminum chief executive Jack Hockema. "While it is likely that the reduced build rates will eventually lead to some level of supply chain destocking, the amount and timing are uncertain until the situation is resolved," said Hockema in ...


    By Argus Media Ltd.

  • S-Oil sees wider margins on refining, petrochemicals

    South Korean refiner S-Oil said it sees profit margins on transportation fuels widening in the current quarter as gasoline demand strengthens and industry maintenance projects tighten supplies. The Asia-Pacific margin benchmark Singapore gross refining margin dropped to $1.40/bl in the January-March quarter from $4.40/bl a year earlier. Despite solid demand growth, the gap between crude costs and ...


    By Argus Media Ltd.

  • Auto, packaging boost Constellium Al shipments

    Amsterdam-based rolled aluminum producer Constellium's shipments climbed by 6pc in the first quarter from a year earlier on strong demand from the packaging and automotive sheet sectors. Constellium shipped 413,000t of rolled aluminum globally during the first quarter, up from 388,000t the prior year. Shipments from the company's packaging and automotive rolled products group rose by 9pc to ...


    By Argus Media Ltd.

  • Nucor expects larger slice of smaller auto market

    North Carolina-based steelmaker Nucor expects to increase its steel deliveries into the auto market by 25pc even as auto sales appear to be shrinking this year. Nucor chief executive John Ferriola said he expects the company to increase shipments to auto manufacturers and suppliers, known as original equipment manufacturers (OEMs), to increase from 1.6mn st currently to 2mn st by the end of the ...


    By Argus Media Ltd.

  • ATI outlook down on 1Q headwinds

    Specialty steelmaker Allegheny Technologies (ATI) expects lower earnings for 2019 after powder billet shortages and higher costs impacted revenues in the first quarter. ATI cut its profit outlook for the flat rolled products (FRP) segment by as much as 44pc to $42mn-46mn, while maintaining its profit and raising its sales outlook for the high-performance materials and components (HPMC) segment. ...


    By Argus Media Ltd.

  • Fortescue narrows May SSF fines discount to 11pc

    Australian iron ore producer Fortescue Metals has narrowed the discount on its 56.5pc Fe SSF fines for May index-linked shipments. SSF fines will be priced at an 11pc discount to the May 62pc index, down from a 13pc discount for April index-linked cargoes, Chinese traders said. The decline tracks the closing of the discount in portside trade, driven by mills shifting to lower-cost ores and ...


    By Argus Media Ltd.

  • Analysis: Aramco expands Korean refining influence

    State-owned Saudi Aramco is deepening its influence over South Korea's downstream sector through a pair of acquisitions that could help cement its dominance in one of Saudi Arabia's most important export markets. Aramco this week finalised an agreement to buy a 17pc stake in South Korean refiner Hyundai Oilbank for 1.37 trillion ...


    By Argus Media Ltd.

  • Usiminas iron ore sales rise in first quarter

    Iron ore sales volumes for Brazil-based ore and steel producer Usiminas rose in the first quarter on higher domestic demand after the fatal collapse of Vale's dam at Brumadinho. Usiminas' first quarter iron ore sales volumes rose to 1.9mn t, up by 5pc from the same period of 2018, despite a drop in production. Iron ore production in the first quarter fell by 1.8pc to 1.3mn t in the previous year. ...


    By Argus Media Ltd.

  • EU HRC imports rise on influx of Turkish material

    EU hot-rolled coils (HRC) imports continued to grow year on year in February, but fell sharply compared with January. EU arrivals were up by 21pc compared with February 2018 and down by 36pc on the month at 612,600t, on fluctuations in supply from Turkey and Russia. February imports from Turkey rose by 54pc compared with a year earlier to 257,000t and Russian imports increased by 14pc to ...


    By Argus Media Ltd.

  • China`s steel output growth accelerates in March

    China's crude steel output accelerated in March, in line with sharp gains in industrial output and real estate investment growth. Crude steel output in March was higher by 10pc on the year at 80.33mn t, said the national bureau of statistics. Cumulative January-March output rose by 9.9pc to 231.07mn t. Steel output was at 2.59mn t/d in March compared with 2.54mn t/d in January and February and ...


    By Argus Media Ltd.

  • Bolivia talks up exploration success

    Revived upstream exploration could boost Bolivia's natural gas reserves, the country's hydrocarbons minister Luis Alberto Sanchez says. "Results from the first quarter were very promising. Reserves will increase from 10.7 trillion ft³ [303bn m³] when we certify at the end of the year," he says. The government's 2019 upstream plan foresees $2.5bn in investment encompassing 26 exploration ...


    By Argus Media Ltd.

  • Indian coking coal imports surge in February

    Indian coking coal imports surged in February as a temporary dip in prices prompted more steelmakers to build inventories. India imported 4.17mn t of coking coal in February, up by 25.5pc on the month from January, according to data from e-commerce company Mjunction. Total coking coal imports in the first 11 months of the April 2018-March 2019 fiscal year were 37.51mn t. Australia was the ...


    By Argus Media Ltd.

  • EU HRC: Service centres feeling bloated

    Quick deliveries from European hot-rolled coil (HRC) mills and limited demand means that service centres are carrying too much inventory. As a result they are fighting with each other to sell tonnage and experiencing further margin compression. Argus' daily northwest Europe HRC index fell by €1/t to reach €491.75/t ($554.85/t) ex-works today. The discount for Italian material rose to ...


    By Argus Media Ltd.

  • Russian Coal - Export supplies rise, despite prices at 3-year low

    Rail deliveries of Russian coal for export recovered in March, driven by higher supplies through the country's far-east and northwestern ports. Shipments rose by 14pc on the month and by 6pc on the year to 18.8mn t, despite prices hitting a three-year low in March. Deliveries to ports increased by 8.3pc year on year to 15.5mn t last month, with rising supplies to Ust-Luga on the Baltic and Vanino ...


    By Argus Media Ltd.

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