Iron ore price rebounds
Iron ore futures rebounded on Thursday as a mandated production cut ahead of a military parade in China seemed to be less severe and shorter than expected, allaying demand concerns.
The most-traded January iron ore contract on China’s Dalian Commodity Exchange (DCE) closed daytime trade 0.98 percent higher at 772.5 yuan ($107.63) a metric ton.
The benchmark September iron ore on the Singapore Exchange rose 0.55 percent to $101.3 a ton by 0704 GMT.
Both the benchmarks had fallen for six straight sessions through Wednesday, weighed by demand concerns as steelmakers in top Chinese production hub Tangshan were required to curb production for better air quality in Beijing for the military parade on September 3 commemorating the end of World War II.
The length of the production restriction in Tangshan is shorter than expected, therefore the overall impact will be limited, analysts said.
Hot metal output, a gauge of iron ore demand, will likely hold steady this week, lending support to ore prices, said one of the analysts on condition of anonymity as he is not authorized to speak to media.
Kazatomprom cuts 2026 uranium production by 5pc
Kazakhstan’s Kazatomprom, the world’s largest uranium producer, announced plans to reduce its 2026 production level by approximately 8 million pounds, representing about 5 percent of global primary uranium supply, according to a press release statement issued Friday.
The company said it will decrease nominal production from 32,777 tonnes (85 million pounds) to 29,697 tonnes (77 million pounds) of U3O8, citing its market-centric approach and assessment that current market conditions don’t warrant returning to 100 percent production levels.
“Despite the volatility in the spot uranium market and the broader capital markets, some of which may be due to uncertainty brought by the tariff wars, uranium long-term price has remained stable at 80 US dollars per pound proving that fundamentals remain strong,” said Meirzhan Yussupov, CEO of Kazatomprom.
The company reported first-half 2025 net profit of KZT 263.2 billion ($506 million), a 54 percent decrease from the same period last year, primarily due to a one-time gain from the consolidation of JV Budenovskoye in 2024.
Adepts for collaborative tree planting
Environmental experts on ‘National Tree Plantation Day’ sounded the alarm over timber mafia activity and unchecked riverside construction, urging the government and all citizens to unite in planting trees as our strongest shield against floods.
Environmental expert Afia Salam emphasised the urgent need for collective action on National Tree Plantation Day. She highlighted the detrimental effects of illegal logging by timber mafias and unchecked riverside development, which have significantly reduced Pakistan’s green cover and increased the risk of flooding.
Africa’s second-largest oil exporter sees output fall below 1 mn barrels
Output fell to 998,757 barrels per day, according to data from the National Agency for Petroleum and Gas (ANPG), missing the government’s projection of 1.07 million barrels.
The decline threatens to undermine revenue targets as oil prices trade below the $70-per-barrel benchmark set in the 2025 budget.
The southwest African nation, which quit OPEC in 2023 after clashing with the group over quotas, has been working to sustain output above the million-barrel threshold, according to Bloomberg.
Officials are now weighing financial support from the International Monetary Fund, though no formal request has been made, the Washington-based lender said.
Angola has sought new investment to stem the decline. Equinor ASA and Chevron Corp. have recently expanded activities, while TotalEnergies SE approved a $6 billion project last year.
Still, Oil Minister Diamantino Pedro Azevedo has warned that mitigating falling production remains the government’s “biggest challenge.”
UK: market forecast
Driven by increasing demand for powdered, condensed or evaporated milk in the UK, the market is expected to continue an upward consumption trend over the next decade. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +0.3 percent for the period from 2024 to 2035, which is projected to bring the market volume to 342K tons by the end of 2035. In value terms, the market is forecast to increase with an anticipated CAGR of +0.8 percent for the period from 2024 to 2035, which is projected to bring the market value to $975M (in nominal wholesale prices) by the end of 2035.
Turkey approves coal mining
Controversial new legislation in Turkey allows for the exploitation of the country’s forests and agricultural land, including olive-cultivated areas, for mining for fossil fuels to supplement the country’s energy production.
The provision is included in an omnibus bill passed by the Turkish parliament in July. It permits companies to lease olive groves and other agricultural land for lignite coal extraction for a period of ten to 20 years.
According to its promoters, the new measure is intended to make Turkey more self-sufficient in energy production.
Global market forecast
Driven by increasing demand for rice worldwide, the market is expected to continue an upward consumption trend over the next decade. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +0.9 percent for the period from 2024 to 2035, which is projected to bring the market volume to 879M tons by the end of 2035. In value terms, the market is forecast to increase with an anticipated CAGR of +1.9 percent for the period from 2024 to 2035, which is projected to bring the market value to $628.2B (in nominal wholesale prices) by the end of 2035.
After four years of growth, consumption of rice decreased by -0.3 percent to 793M tons in 2024. In general, consumption, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of 2.6 percent. Global consumption peaked at 795M tons in 2023, and then dropped in the following year.