Watch the interview of Hongmei Li, Platts with Manisha Gupta on CNBC-TV18, in which she shared her reading and outlook on steel and metals market.
In an interview to CNBC-TV18‘s Manisha Gupta, Hongmei Li, Senior Editor - Steel & Metals News at Platts gave her views on the metal sector and the outlook going forward.
Watch the interview of Annalisa Jeffries of S&P Global Platts with Manisha Gupta on CNBC-TV18. She speaks about the current trends in commodities market.
Watch the interview of Hongmei Li, Sr Editor- Steel Metals News, Platts with Manisha Gupta on CNBC-TV18, in which she shared her reading and outlook on commodity markets and metals in particular.
Many important decisions have to be made at the OPEC meet, like the amount of production cuts to be made and the countries which will be exempt from cuts, says Jaipuriyar.
Till the final decision on November 30 meeting, one could expect to find a floor for crude oil prices, said Mriganka Jaipuriyar, Associate Editorial Director, Platts.
While global experts say oil will likely touch USD 60/barrel in 2016 and silver demand will continue to rise on account of its industrial purposes, back home in India, industry experts believe the country may have to import sugar in the time to come. Here's a wrap of the week's developments in the commodities space.
So far this year, has been a strong year for the ferrous market, says Annalisa Jeffries, Associate Editorial Director, Metals Asia, Singapore, Platts,
In an interview to CNBC-TV18 Emanuele Norsa, Managing Editor Steel at Platts shared his views on the upbeat mood in the metals space.
Gold buying in India will increase on the back of festival season and good monsoon, says George King Cassell, Senior Specialist Metals, Platts.
Speaking CNBC-TV18, Dave Ernsberger of Platts said that the demand for crude is growing faster than expected. Stockpiles of oil are not falling as fast as markets had expected, he said.
With shale being the game-changer, crude price war will continue and OPEC members will keep fighting for life because of the change in the energy world, says Fadel Gheit, senior oil and gas analyst at Oppenheimer & Co. Two other experts also weighed in.
The current domestic demand for steel in China is very strong and so it is exporting less, which has aided the rally in steel prices, says Annalisa Jeffries, Associate Editorial Director.
Vandana Hari, Asia Editorial Director of Platts believes that nothing short of a cut of a 1.5-2.0 million barrels per day will really provide a sustainable floor to oil prices.
The sharp downward move Wednesday, which at one point dragged the Dow Jones Industrial Average lower by more than 550 points, has been called by at least one market strategist a "mirage." Oil industry sources agreed the activity was somewhat unusual
"As the sanctions have been lifted, Iran is free to sell its crude to whoever it wants and they are planning to target Europe, where they have completely lost market share," Mriganka Jaipuriyar of Platts said.
"India comes up as an alternative buyer. It is a country growing in terms of steel and iron ore demand so that might be an area to keep an eye on," Annalisa Jeffries, associate editorial director for Asia metals at Platts, told CNBC on Friday.
According to Platts, the rankings are based on assets, revenues, profits and return on invested capital for the prior fiscal year.
Vandana Hari, Asia Editorial Director of Platts is not surprised at the IEA forecast of slower oil demand growth and says it was expected because the IEA usually goes by the forecast on economic outlook, which the IMF, ADB has lowered in the recent times.
Indian Sugar Exim Corporation said earlier in the day it would soon contract 100,000 tonnes of the sweetener for exports in the next season beginning October.
US benchmark West Texas Intermediate for August delivery rose 26 cents to USD 53.29 and Brent crude for August climbed 10 cents to USD 58.61 a barrel in late morning trade.
The oil prices are fairly balanced but the big question now is what will happen to prices when the Iranian oil hits the market. So, only by December-end there would be an oversupply and there would be a big price correction, said Stuart Elliott Associate Editorial Director, Platts.
Vandana Hari of Platts says oil prices at USD 100/ bbl are a thing of the past. "As of now, people are finding it difficult to even imagine prices going up to USD 80/ bbl," she adds
Prices in the $3-trillion-plus global petrochemicals market climbed another 4% month over month in May, for a fourth month of rebound following six consecutive months of falling prices.
Saudi Arabia-led coalition air strikes resumed against rebel positions in Yemen's south after a five-day ceasefire expired yesterday, as fighting raged between Shia Huthi rebels and loyalists of exiled president Abedrabbo Mansour Hadi.