2025-10-13 04:10
BEIJING, Oct 13 (Reuters) - China's iron ore imports in September climbed 10.6% from the month before to hit a record high for a single month, as improving demand and higher prices spurred miners to step up shipments. The world's largest iron ore consumer brought in 116.33 million metric tons of the key steelmaking ingredient last month, staying above 100 million tons for a fourth straight month, data from the General Administration of Customs showed on Monday. Sign up here. The September volume, which beat analysts expectations of between 100 million and 106 million tons, was up from 105.22 million tons in August and also was 11.7% higher than 104.13 million tons in the corresponding month in 2024. Prices of the key steelmaking ingredient have gained ground and stayed above the key psychological level of $100 a ton from July, a level that could encourage high-cost miners to ramp up shipments, said analysts. The average price for iron ore rose by 5.3% in July from the previous month, and then climbed 2.5% in August and 3.6% in September, data from consultancy Steelhome showed. The gains reflected improved confidence in the steel sector stemming from Beijing's pledge to crack down on involution-style competition, or competition so fierce that it is self-destructive, in an industry battling overcapacity. Demand in top iron ore consumer China also rose after some mills resumed production following curbs for a military parade in early September. The average daily hot metal output, typically a gauge of ore demand, climbed to 2.42 million tons by end-September, from 2.4 million tons in late August, data from consultancy Mysteel showed. In the first three quarters of 2025, China's iron ore imports totalled 917.69 million tons, flat year-on-year. "Underpinning robust ore imports last month was also stronger steel demand at home and abroad," said Ge Xin, deputy director at consultancy Lange Steel. STEEL EXPORTS AT RECORD HIGH China's steel exports in September rose by 10% from August to a four-month peak of 10.47 million tons, defying expectations that a growing protectionist backlash on cheap Chinese steel would lower outbound shipments. Exports in the first nine months of the year jumped 9.2% to hit a record high for the period at 87.96 million tons, keeping the annual total on track for an all-time high. https://www.reuters.com/world/asia-pacific/chinas-iron-ore-imports-hit-record-high-september-2025-10-13/
2025-10-13 03:11
BEIJING, Oct 13 (Reuters) - China's export growth picked up pace in September, expanding 8.3% from a year earlier in dollar value terms, while imports grew 7.4%, customs data showed on Monday. Outbound shipments were expected to have risen an annual 6.0%, according to a Reuters poll of economists, up from a 4.4% gain in August. Imports were forecast to have grown 1.5%, against a 1.3% increase previously. Sign up here. https://www.reuters.com/world/asia-pacific/chinas-september-dollar-denominated-exports-rise-83-yy-imports-up-74-2025-10-13/
2025-10-13 00:07
LONDON, Oct 13 (Reuters) - Spanish energy company Moeve has become the first external supplier of sustainable aviation fuel to join Shell's blockchain-based platform for scaling SAF use, the oil major told Reuters after a deal was signed. Shell's Avelia platform is a “book and claim” system that aims to connect airlines, fuel suppliers and corporate buyers. Avelia, launched in 2022 with Amex Global Business Travel and Accenture, had facilitated over 41 million gallons of SAF use across 17 airports as of mid-2025. Sign up here. Moeve produces SAF from used cooking oil at its La Rábida Energy Park. It plans to expand overall capacity to 800,000 metric tons a year by 2030. The global SAF market has struggled to scale despite pressures to decarbonize the aviation industry. The International Air Transport Association said in June it expected the amount of sustainable aviation fuel produced to double in 2025 to reach 2 million tons. However, that would only represent 0.7% of airlines' fuel consumption. https://www.reuters.com/business/energy/moeve-joins-shells-platform-scale-sustainable-jet-fuel-2025-10-13/
2025-10-12 23:48
SINGAPORE, Oct 13 (Reuters) - Portuguese utilities firm EDP (EDP.LS) , opens new tab expects to accelerate its solar and battery storage projects in Australia after securing government awards for long-term revenue generation, the company said on Monday. Its subsidiary EDP Renewables Australia (EDPR.LS) , opens new tab was awarded generation revenue schemes under the government's Capacity Investment Scheme (CIS) for two projects that will add more than 1.7 gigawatts of solar and battery storage to the country's energy mix, EDP said in a statement. Sign up here. EDP expects to reach financial close for the Punchs Creek project located in the Toowoomba region of Queensland in 2026 and to commission the plant in early 2029. The project comprises 480 megawatt peak (MWp) of solar and a 400 megawatt battery energy storage system (BESS). The Merino project, near Goulburn in New South Wales, which includes 530 MWp solar power generation and a 450 MW BESS is expected to reach ready-to-build status in the second half of 2026, the company added. Australia's CIS aims to accelerate investment in renewable energy generation and clean dispatchable capacity such as battery storage by providing a long-term revenue safety net for projects. These agreements awarded by the government via tenders will underwrite revenues by offering support if market revenues fall below a set floor, and sharing upside if they exceed a cap. https://www.reuters.com/sustainability/climate-energy/edp-accelerate-solar-battery-projects-australia-after-government-awards-2025-10-12/
2025-10-12 23:37
US stocks regain some ground lost Friday, European stocks higher Gold at fresh record highs Investors grasp at hope for compromise in US-China trade war US bond market closed for holiday NEW YORK/LONDON, Oct 13 (Reuters) - MSCI's global equities gauge rose almost 1% on Monday, regaining some of the ground lost in Friday's sell-off after U.S. President Donald Trump softened his tone on the U.S.-China trade war, but safe-haven gold hit fresh record highs in a sign that uncertainty remained high. Investors were placated after U.S. Treasury Secretary Scott Bessent said on Monday that Trump is on track to meet Chinese leader Xi Jinping in late October as the two sides try to de-escalate trade tensions. Sign up here. On Friday, Trump had threatened 100% tariffs on China from November 1 in response to China's curbs on exports of rare earth elements. But by Sunday the U.S. president sounded more conciliatory, posting on social media that the U.S. did not want to hurt China. "Investors at the end of last week were worried that there was potential escalation in tensions between the United States and China. It looks like this morning they've walked that back a little bit," said Chris Zaccarelli, chief investment officer, Northlight Asset Management in Charlotte, North Carolina. Zaccarelli also said Monday's news that OpenAI has partnered with Broadcom (AVGO.O) , opens new tab to produce its first in-house artificial intelligence processors, "adds to the general enthusiasm around artificial intelligence and related industries." MSCI's gauge of stocks across the globe (.MIWD00000PUS) , opens new tab rose 8.92 points, or 0.92%, to 981.17, regaining some ground lost in Friday's more than 2% sell-off. On Wall Street, the Dow Jones Industrial Average (.DJI) , opens new tab rose 587.98 points, or 1.29%, to 46,067.58. It had fallen 1.9% on Friday. The S&P 500 (.SPX) , opens new tab rose 102.21 points, or 1.56%, to 6,654.72 on Monday, after losing 2.7% in the prior session, and the Nasdaq Composite (.IXIC) , opens new tab rose 490.18 points, or 2.21%, to 22,694.61 after falling more than 3% on Friday. Tim Ghriskey, senior portfolio strategist at Ingalls & Snyder in New York, noted some signs of remaining skepticism in the market as investors were still buying gold. "Gold is the fear trade. Even with Trump backing away from the 100% tariffs on China, there is fear out there and gold is traditionally the place to hide," he said. Also, BofA commodities analysts said in a note on Monday that they had raised their forecast for gold to $5,000 an ounce for next year from $4,400. Spot gold breached $4,100 per ounce for the first time and was last up 2.24% at $4,107.17 an ounce. U.S. gold futures rose 3.11% to $4,099.50 an ounce. Earlier the pan-European STOXX 600 (.STOXX) , opens new tab index had closed up 0.44% although France remained in the spotlight with reappointed Prime Minister Sebastien Lecornu facing pressure to get a budget deal approved. In currencies, the dollar index , which measures the greenback against a basket of currencies including the yen and the euro, rose 0.22% to 99.27. The euro was down 0.44% at $1.1567. Against the Japanese yen , the dollar strengthened 0.77% to 152.32. Japanese markets have had their own problems, with the ascension of new ruling party leader Sanae Takaichi to prime minister now in doubt. That contributed to a sharp rebound in the yen and a 5% dive in Nikkei futures on Friday. Japan's Nikkei (.N225) , opens new tab was closed on Monday for a holiday. In cryptocurrencies, bitcoin gained 0.71% to $115,874.58. It had fallen 5.6% on Friday. U.S. bond markets were closed on Monday for the Columbus Day/Indigenous Peoples' Day holiday. Oil prices rose on Monday after hitting five-month lows on Friday, as investors focused on the easing of U.S.-China trade tensions and assurances that Trump will meet his counterpart later this month. U.S. crude settled up 1% or 59 cents at $59.49 a barrel and Brent finished at $63.32 per barrel, up 0.94% or 59 cents on the day. In the week ahead, investors will be monitoring the earnings season kick-off with major U.S. banks reporting, including JPMorgan (JPM.N) , opens new tab, Goldman Sachs (GS.N) , opens new tab, Wells Fargo (WFC.N) , opens new tab and Citigroup (C.N) , opens new tab. S&P 500 companies overall are expected to have increased earnings by 8.8% in the third quarter from a year earlier, according to LSEG IBES, and strong results will be needed to justify the market's high valuations. https://www.reuters.com/world/china/global-markets-wrapup-1-2025-10-12/
2025-10-12 23:36
Climate change is accelerating risks to Amazon, AMOC Warm water coral reefs in unstoppable dieback, report finds Renewable energy surpasses coal globally, marking a positive climate shift COPENHAGEN, Oct 13 (Reuters) - Global warming is crossing dangerous thresholds sooner than expected with the world’s coral reefs now in an almost irreversible die-off, marking what scientists on Monday described as the first “tipping point” in climate-driven ecosystem collapse. The warning in the Global Tipping Points report by 160 researchers worldwide, which synthesizes groundbreaking science to estimate points of no return, comes just weeks ahead of this year's COP30 climate summit being held at the edge of the Amazon rainforest in Brazil. Sign up here. That same rainforest system is now at risk of collapsing once the average global temperature warms beyond just 1.5 degrees Celsius based on deforestation rates, the report said, revising down the estimated threshold for the Amazon. Also of concern if temperatures keep rising is the threat of disruption to the major ocean current called the Atlantic Meridional Overturning Circulation, or AMOC, which helps to ensure mild winters in northern Europe. “Change is happening fast now, tragically, in parts of the climate, the biosphere,” said environmental scientist Tim Lenton at the University of Exeter, who is the lead author of the report. SOME POSITIVE SIGNS Lenton noted positive signs when it came to phasing out the fossil fuels most responsible for climate change. Renewables, for example, accounted for more electricity generation than coal this year for the first time, according to data from the nonprofit think tank Ember. “Nobody wants to be just traumatized and disempowered,” Lenton said. “We still have some agency.” The scientists implored countries at November's COP30 to work toward bringing down climate-warming carbon emissions. Scientists have been surprised by how quickly changes are unfolding in nature, with average global temperatures already having warmed by 1.3-1.4 degrees Celsius (2.3 to 2.5 degrees Fahrenheit) above the preindustrial average, according to data from U.N. and EU science agencies. WARMEST ON RECORD The last two years were Earth’s warmest on record, with marine heatwaves that stressed 84% of the world’s reefs to the point of bleaching and, in some cases, death. Coral reefs sustain about a quarter of marine life. For corals to recover, the world would need to drastically ramp up climate action to reverse temperatures back down to just 1 degree C above the preindustrial average, the scientists suggested. “The new report makes clear that each year there is an increase in the scope and magnitude of the negative impacts of climate change,” said Pep Canadell, a senior scientist at Australia’s CSIRO Climate Science Centre. The world is currently on track for about 3.1 degrees C of warming in this century, based on national policies. https://www.reuters.com/sustainability/cop/climate-tipping-points-are-being-crossed-scientists-warn-ahead-cop30-2025-10-12/
