Tanker freight rose 4.15 percent on the day to 933.79 dollars and 7.17 percent on the week in the site market tables, while dry bulk freight fell 2.3 percent on the day and 4.86 percent on the week. The split keeps the war premium where it has been: in oil shipping, not in general cargo.
Grains were steady. Soybeans rose 1.25 percent to 1,256.8 cents a bushel, wheat was almost unchanged at 616.5 cents, up 0.08 percent, and corn eased 0.22 percent to 454 cents, leaving the grain complex without a weather or export shock in this morning’s reporting.
Japan’s Cabinet has enacted definitive anti-dumping duties of 3.6 to 42.1 percent on nickel-added cold-rolled stainless steel from China and Taiwan for five years from October 31, covered in full in today’s stainless story. The duties close a trade remedy case that matters more for regional steel pricing than for the global complex.
The IAEA confirmed that tritium levels in the 25th batch of ALPS treated water discharged from Fukushima Daiichi were far below Japan’s operational limit. The confirmation is routine in form, but each batch keeps the discharge programme, and the regional fishing and trade disputes around it, on the calendar.
The IEA’s review of Ethiopia’s energy sector found major opportunities for growth and regional leadership in the country’s energy ambitions. The review is a policy document rather than a market event, noted here because Ethiopia’s power buildout is one of the larger African demand stories of the next decade.
In liquefied natural gas, QatarEnergy is in talks with Woodside Energy to buy up to three million tonnes a year from its Louisiana LNG plant for 15 to 20 years, Reuters reported, citing three people with knowledge of the negotiations. Woodside said it does not respond to market speculation and QatarEnergy did not immediately respond. QatarEnergy has been buying United States LNG on the spot market to supply customers because Hormuz shipping is curtailed, and Cheniere reported last week a long term agreement to supply QatarEnergy with four million tonnes a year. The item is unconfirmed by either company and is carried at that level.
In China, the sector breakdown of Tuesday’s industrial profits release shows where the commodity windfall landed. Mining profits rose 38.2 percent to 881.37 billion yuan in the first nine months, with coal mining and washing profits up 57.0 percent to 353.04 billion yuan, oil and gas extraction up 21.3 percent to 311.62 billion yuan, and non-ferrous metal mining up 68.0 percent to 156.62 billion yuan, while profits in electricity and heat production fell 17.9 percent. The full release is covered in the rates beat.
In Brazil, Luiz Inacio Lula da Silva’s election victory is set to reinforce government control over the country’s rare earth resources, Mining.com reported. Brazil holds the world’s second largest rare earth reserves, estimated at 21 million tonnes by the United States Geological Survey. The result is led by the politics and mining beats; for commodities the relevance is continuity of Brazil’s critical minerals strategy, launched in September, rather than a new policy.
In European energy funding, the CEF Energy 2026 call drew 67 applications requesting 2.88 billion euros against a 600 million euro budget, CINEA said on Monday. That story is covered in full in the infra-deals beat and is referenced here, not duplicated.