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Iron ore breaks six-day winning streak due to falling oil prices and swollen inventories
Iron ore futures in Dalian ended six sessions of gains on Tuesday, as oil prices fell and portside inventories increased. This dip may only be temporary as an expected rise in hot metal production is likely to push demand and prices up. As of 0303 GMT, the most-traded contract for May iron ore on China's Dalian Commodity Exchange was trading 0.19% lower. It was 780.5 Yuan ($113.35), per metric ton. The benchmark iron ore for April on the Singapore Exchange rose 0.13% to $103.2 per ton. Oil prices fell below $90 Tuesday, after reaching their highest level in over three years the previous session. U.S. president Donald Trump had said that the Middle East war could end soon. This eased concerns about long-term disruptions in global oil supply. The cost of freight and premiums for war risk would be reduced if oil prices fell and the Iran war de-escalated. Customs data revealed on Tuesday that China's imports of iron ore grew 10% over the same period last year. Iron ore arrivals at 47 Chinese ports increased between March 2-8. Portside inventories also grew. According to Mysteel's data, the price of steel is falling. Mysteel said that the same period had seen a drop in weekly shipments from Brazil and Australia. This could have slowed down price declines. After March 11, production restrictions for China's annual parliament meeting will be lifted. This will lead to an increase in demand for steelmaking materials. Coking coal and coke, which are used to make steel, have both fallen in price, by 3.64% apiece. A report by Guoyuan?Futures Research said that coke and coal closely track energy prices and have therefore risen and fallen in tandem with crude oil. Steel benchmarks at the Shanghai Futures Exchange fell mainly. Hot-rolled coils fell 0.12%, rebar 0.45% and stainless steel 2.05%. Wire rod, meanwhile, advanced by 1.1%. ($1 = 6.8855 Yuan) (Reporting and editing by Ronojojo Mazumdar).
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China's iron ore imports for the first two months of 2018 are up on exports and domestic demand
Customs data showed that China's imports of iron ore in the first two months 2026 increased by 10% compared to a year ago, thanks to stronger exports from Australia, a major supplier, and a higher level of domestic demand. In January and February of this year, the world's biggest iron ore consumer imported 210.02 metric tons. This is up from 191.36 metric tons in previous years. Alexis Ellender is an analyst with the ship tracking firm Kpler. She said that this growth was due to Australia's strong exports in December. China combined import data from January and February in order to smoothen the impact of Lunar New Year, a week-long holiday that fell this year in February. Analysts said that a better domestic demand supported the higher imports of iron ore. Data from Mysteel revealed that the average daily hot metal production, which is a measure of iron ore consumption, increased by 1.2% compared to a year ago in the first two month of?2026. The average monthly number for January to February is 105.01 millions?tons compared to December's 119.65million tons. Kpler's?Ellender?expects?March?imports of nearly 105?million tons. China's exports of steel in the first two month fell?by 8.1% compared to a year ago, to 15,59?million tonnes. Export licence requirements were cited as a factor that slowed shipment. Beijing announced a plan in December to implement a licensing system from 2026, which will regulate the exports of this metal. This is because robust shipments are fueling a global protectionist backlash. (Reporting and editing by Amy Lv, Lewis Jackson and Thomas Derpinghaus).
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Trump promises quick Mideast war resolution with aluminium slides
Aluminum prices fell on Tuesday as investors rushed to sell their metals after U.S. president Donald Trump promised a "quick end" to the Middle East war, which eased concerns about the metal's availability. As of 0153 GMT, the most traded aluminium contract at the Shanghai Futures Exchange fell 2.88% to 24,465 Yuan ($3,550.95), after reaching its highest level since January 30, when it was 25,860 yuan?per metric ton. Benchmark three-month aluminum on the London Metal Exchange dropped 2.11% to $3 314 per ton. On Monday, the contract reached its highest level since March 2022. It was $3,544 per?ton. Trump promised a swift end to the conflict, while threatening an escalation of the war with Iran if they blocked oil shipments out of the Middle East. The plunge in prices of (aluminum) was mainly caused by Trump's announcement to end the war, said a Chinese businessman under condition of anonymity because he wasn't authorized to speak to media. The U.S. and Israel war against Iran effectively closed the Strait of Hormuz. This disrupted?shipments that accounted for around 9% of the global aluminium supply. Supply fears arose, causing?prices to rocket higher over the last week. ING analysts stated in a 'note' that aluminium is one of the most exposed metals in the region to further escalation, making it vulnerable to a new upward trend on any re-supply shock. SHFE copper increased by 1.73%. Nickel jumped 1.86%. Tin soared 5.29%. Lead dipped by 0.24%. Zinc was not much changed. Copper gained?0.79% among other?LME Metals. Nickel advanced 0.75%. Lead edged up by 0.08%. Zinc added 0.18%. Tin fell 0.31%.
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Egypt increases domestic fuel prices up to 17% amid global oil turmoil
The petroleum ministry announced that Egypt increased prices on a range of fuel products?on Tuesday. This comes as the Middle East continues to be affected by the U.S. and Israeli war?on Iran and the rising price of oil and gas. The ministry released a statement that said, "This is due to the extraordinary situation caused by the geopolitical development in the Middle East and its direct effect on the global energy markets". The decision was made just days after Egyptian Premier Mostafa?Madbouly stated in a presser?on 3rd March that the state could resort to?exceptional measures' if fuel prices rose significantly due to the war. The war in the Middle East has caused the price of oil and gas to rise as it has stopped energy exports. Iran has attacked ships and energy installations, which has forced the closure of the Gulf navigation and production stops?from Qatar and Iraq. The increase of 14%-17% in a variety of petroleum products is the first of this year, and follows a rise of 10.5%-12.9% last October. Egypt announced at the time that it would freeze domestic fuel costs for at least one year. It cited local, regional, and global developments. Diesel, one of Egypt's most popular fuels, has been raised to 20.50 Egyptian Pounds ($0.3887), up from 17.50 Egyptian Pounds. Gasoline prices rose by up to 16.9% depending on the grade. 80 octane gas increased to 20.75 lbs per litre while 92 octane jumped to 22.25 lbs and 95 octane climbed to 24 lbs. Egypt has been able to take on financing with the International Monetary Fund in a back-to-back fashion since 2016. In 2016, it signed a 12-billion-dollar loan program for the purpose of reviving its economy following years of political turmoil that began after the Arab Spring protests. Since then, Washington-based lender has?pushed the government to reduce fuel, electricity, and food subsidies, while expanding social safety nets. Egypt and the IMF agreed to an $8 billion loan program in March 2024.
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Oil prices plunge as Trump declares that the Iran war may end soon.
Asian stocks surged and oil prices fell at the beginning of trading on Tuesday following a volatile session overnight for markets after U.S. president Donald Trump declared that the Middle East war might be "over soon." Brent crude futures dropped as much as 10 percent to below $90 a barrel when trading resumed. U.S. equity futurs were muted. S&P 500 futures fell 0.2%, reversing Monday's gains. Trump's comments injected an optimistic burst that contrasted sharply to events in Iran where hardliners rallied around the new Supreme Leader Mojtaba Khmenei as a show of adamant?defiance. On Monday, the global markets were thrown into turmoil by competing signals: initially, oil prices spiked while Wall Street stocks fell before recovering sharply following Trump's remarks and reports that Washington might ease sanctions against Russian energy. Tony Sycamore is a market analyst with IG Sydney. He said: "While this has eased some of the panic in the short term, it is difficult to reconcile that the conflict was'very complete.'" The softer tone of President Trump’s rhetoric is welcome, and should at least help calm nerves ahead of today's meeting in Asia. Investor confidence has risen after the Monday sell-off, amid signs of increased risk taking by retail investors. Japan's Nikkei225 rose 3.6% and South Korea's Kospi soared 6.4%. After futures rose by more than 5% the Korea Exchange halted programme trading for 5 minutes. Iran's military warned that it would increase its missile attacks as a further show of defiance. Trump stated in a Truth Social post that if Iran did anything to stop the flow of oil through the Strait of Hormuz they would be hit TWENTY TIMES HARDER than they had been so far. U.S. Treasury Bonds recovered after the Monday spike in oil prices caused an inflation fear and fuelled expectations of central banks?in Europe tightening policy later this year. According to CME Group's FedWatch, the yield on U.S. Treasury bonds 10-years was down 2.3 basis points at 4.109%. Traders were placing bets about the timing of Federal Reserve's rate cuts, the first one not expected until July. Analysts from ING stated that bond yields are still at troubling levels. Expect nominal yields to drop for a little bit on a reverse trade. In a note to clients, they warned that bonds would not experience a sudden structural rally. Remember, we have to overcome clear inflation impulses, and that the economy is still 'down but not out. The U.S. Dollar Index, which measures the strength of the greenback against a basket?of six major?peers?, has retraced its gains from the previous week, and is now trading at 98.79, down by 0.1%. Gold fell by 0.1% to $5,133.55 and remained within its trading range of the previous week. Cryptocurrencies remained in the same range as they have been since February 1. Bitcoin rose 0.2% to $69,127.60 while ether fell 0.4% to $2,018.69. (Reporting from Gregor Stuart Hunter).
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Japan's Q4 GDP increases on the back of robust business investment
Revised data revealed that Japan's economy has grown faster than originally estimated during the last three months of 2025. However, the Middle East conflict is still a factor in determining the outlook for growth. Gross domestic product (GDP), which is the sum of all goods and services produced in a country, grew by 1.3%. This was faster than the preliminary estimate of 0.2%. It also exceeded economists' average forecast for 1.2%. Quarter-on-quarter, without annualisation, the GDP increased by 0.3%. This was in line with the median forecast of 0.3% growth and was compared to the initial estimate of 0.1%. Capital expenditure by businesses rose 1.3% during the fourth quarter. This is the biggest increase since October-December of 2023. The initial estimate was revised upwards to a 0.2% increase, beating economists' expectations of a 1.1% rise. The preliminary data showed a 0.1% increase in private consumption. This is a small change from the 0.3% rise reported earlier. Exports less imports was unchanged from the initial data that showed no contribution to GDP. The revised data shows that domestic demand contributed 0.3 percent points to GDP, up from a zero contribution. The growth in the fourth quarter followed a contraction of 2.6% in July-September, and an expansion of 2.4% in April-June. After the revisions, the size of Japan's nominal economy was 663.8 trillion dollars (4.20 trillion yen) in 2012. The data released on Tuesday revealed that household spending in Japan fell by 1.0% from a year earlier. This is bad news for private consumption. Sanae Takaichi, Japan's Prime Minister, said that the country will take steps to reduce gasoline prices in order to cushion the impact of the rising fuel costs due the conflict with Iran. The Bank of Japan is not changing its tone on increasing interest rates, if the economy continues to grow in line with its forecasts. However, Governor Kazuo Ueda said that the Middle East conflict could have a negative impact on global growth.
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Alexander Butterfield, White House assistant who exposed Nixon's tape-recording system at age 99, has died
Alexander Butterfield died aged 99. He was the White House aide that revealed Richard Nixon's "secret audio recording system" and provided the "smoking weapon" in the Watergate scandal which brought down the President. Kim, his wife, confirmed to The Washington Post & The New York Times that Butterfield had died. His revelations about the recording devices and listening devices sparked a legal battle over executive privilege. The two newspapers reported that he had died at his home in the seaside La Jolla district of San Diego a month before his 100th Birthday, but there was no mention of a cause of death. Butterfield told journalist Alicia Shepard that he did not like being called the person who revealed the existence of these tapes, because it implied he had "eagerly" and "breathlessly" informed the Watergate committee. Butterfield, a native of Pensacola in Florida who grew up California, attended UCLA and joined the U.S. Air Force before joining in 1948. He served as a combat aircraft during the Vietnam War commanding a squadron tactical reconnaissance aircraft. Later, Butterfield served as the military assistant of a senior Pentagon official. This job gave him exposure to the White House. Butterfield left the Air Force in order to join the White House Staff as the deputy of Nixon's Chief of Staff, H.R. Haldeman was an old UCLA friend. Butterfield was responsible for keeping an historical record of the president, including overseeing the installation of voice-activated tape?system. Butterfield was already in his new job as the Federal Aviation Administration's top official when the investigation into the break-in of the Democratic Headquarters at Watergate Building on June 17, 1972 began to heat up. Butterfield was one of a few people in the White House who were aware of the recording system. When he learned that he would face questions from the Senate Watergate Committee (officially known as the Select Committee on Presidential Campaign Activities), Butterfield decided not to tell a lie or volunteer any information. In a private session, a Republican staff attorney of the committee asked him if there was a recording system at the White House. Butterfield reluctantly admitted that there was. KEY QUESTION The same question was asked by Fred Thompson, the counsel for the Republicans in the Senate committee, who would later become a senator and actor, on July 16, 1973. After a long silence, Butterfield replied, "I am aware of listening devices. Yes, sir." The nation was stunned by the news that Nixon had actually recorded what he said, to whom and when. Butterfield confirmed that the system secretly recorded conversations and meetings within the Oval Office and Nixon's Executive Office Building office, the Cabinet room and four White House phones. He said the purpose of these recordings was historical. Butterfield, in a 1975 interview for People magazine said Nixon had often forgotten about the recorders. He also disregarded the advice to destroy them because he didn't think the Watergate scandal would ever reach the point where he was required to hand over the tapes. Butterfield, speaking of his deceased former boss in 1994, said: "I am sure that he hated me as much or more than anyone else could." He stated that he believed Nixon should have resigned sooner. He said, "I'm not upset about the resignation of the president." "Not at all." The role of NIXON is revealed Nixon's undoing was a recording that Nixon made six days after Watergate. It was the "smoking-gun" which proved he knew about the cover-up. Nixon was heard agreeing with a plan that would have the investigation into the Watergate break-in halted due to national security concerns. Nixon's public and political support was waning as the U.S. Supreme Court rejected White House claims about executive privilege. He resigned in August 1974 rather than face an impeachment trial and Senate trial. Butterfield, who was not involved in the cover-up or break-in, was never charged. However, his friend Haldeman, who was also a Nixon insider, would be among the many Nixon insiders to go to prison as a result of the scandal. Bob Woodward's 2015 book, "The Last of the President's Men", which helped to break the Watergate scandal, was a focus on Butterfield. He provided Woodward thousands of documents that he had removed secretly from Nixon administration office. Butterfield's documents and interviews portrayed Nixon as a strange, resentful man who was isolated and isolated. Butterfield claimed he was often the target of hostility by Nixon loyalists. He told Time magazine how long-time Nixon Secretary Rose Mary Woods had called him a "son a bitch," who "destroyed" the greatest leader the country has ever had. Butterfield was Oliver Stone's adviser on the 1995 film "Nixon", and played a White House employee in a cameo appearance. Butterfield's marriage to Charlotte Maguire ended in divorce in the year 1985. He had also dated Audrey Geisel before, the widow of children's author and illustrator Theodor Seuss Geisel (better known as Dr. Seuss). Bill Trott (reporting, writing and editing; Steve Gorman contributed additional reporting in Los Angeles; Diane Craft edited)
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Petrobras refuses to accept additional diesel orders because Brazilian prices are below global market
Four sources with knowledge of the situation have confirmed that Brazilian state-run Petrobras has refused to?accept requests from fuel distributors requesting additional diesel volumes, as domestic prices are falling?to record discounts compared to global levels. Petrobras is the largest supplier of fuel in Brazil and the data indicates that the diesel sold by the company is currently 85% less expensive than imported fuels. This is due to global prices rising because of the U.S. Iran conflict. Sources claim that the disparity between the two diesel prices has a negative impact on the booming agricultural sector of the country during the harvest season. Petrobras sells only the diesel that is contractually required to its distributors. A?company source said the firm will not sell more so distributors can stock it up and make money when the state-run oil company raises the price. Source: "We can't give out more diesel to distributors so they can buy cheaply now and profit later," said the source. Magda Chambriard, CEO of Petrobras, said that the company doesn't pass on short-term volatility to the consumers. She also stated last week that the company is still evaluating the new oil prices before making any adjustments. The Middle East conflict's first and most immediate impact on Brazil's agricultural sector would be a spike in diesel prices. This would increase costs for farmers harvesting record soybean crops and planting corn. Sergio Araujo is the head of Brazilian fuel importers' association Abicom. He said that Petrobras, which produces around 55% diesel in Brazil, has a huge influence on fuel prices. Araujo stated that the steep discount is causing buyers to turn away from private refiners and imported cargos. This has reshaped fuel flows, and created logistical strains which are leading supply imbalances. SOUTHERN BRITAIN EMERGES WITH SUPPLY TENSIONS Farmers in Rio Grande do Sul have reported difficulty in obtaining fuel. The state has two refineries, and diesel is normally plentiful. ANP, the oil regulator, said that it will investigate the complaints of rural producers regarding supply shortages during peak harvest. ANP reported that it contacted major suppliers on the weekend, and found that Rio Grande do Sul "has enough stocks to ensure regular supply of diesel." Araujo explained that the problem is not a lack of diesel, but rather buyers who want to buy at the current Petrobras price, while sellers ask for higher prices in order to protect themselves against potential costs in the event the state-owned firm changes its prices in the next few weeks. Araujo said that sellers believe they will have to pay more for restocking. Petrobras didn't immediately respond to a comment request. (Reporting by Marta Nogueira and Rodrigo Viga Gaier in Rio de Janeiro, writing by Fabio Teixeira)
The Japanese snow monkey, Punch, captures the hearts of many while his kin are facing culls
The?charm of Punch the snow monkey, his stuffed orangutan and the?world has been captured by their charm.
In the wild however, Japanese macaques are often viewed as pests that need to be chased away or eliminated in order to avoid economic damage for farmers.
According to the Agriculture Ministry, monkeys will cause 770 million yen (4.86 million dollars) in damage by 2024. This is enough to justify Japan's capture and slaughter of thousands of primates each year.
Treatment of'monkeys' is a controversial issue. It divides those who suffer from stolen crops, and others who support a humane solution.
Takayo Soma is a primatologist from Kyoto University. "But it's not very scientific to cull monkeys without proper justification."
Shigeyuki, a Shinshu University professor, said that killing a monkey troop only encourages others to replace it, making the practice "never-ending" and ineffective.
Some people advocate non-lethal methods such as "monkey dogs" or trained pet dogs to chase intruders across a mountain.
Takumi Matsuda is one of the few farmers who are enamoured by snow monkeys. He believes that humans must recognize their role in creating the problem, for example, by encroaching upon the critters’ natural habitat.
Matsuda, who has a large following on Instagram, shares photos and videos of the primates he sees in the mountains in Nagano Prefecture in central Japan. He also said that he understands the concerns of farmers.
He said: "It is not that the farmers are against the monkeys, but they're worried about their livelihood." "I hope Punch will inspire more people to visit real Japanese macaques in the wild.
(source: Reuters)