OPEC+ representatives said the organization has yet to resolve the impasse with some African member states over oil production quotas, which has forced the organization to postpone a meeting at a time when oil prices are falling.
Shanxi Coking Coal signed contracts with 3 new Changxiao customers
According to information from Shanxi Coking Coal, on November 28, during the 2024 medium- and long-term contract negotiation meeting for the Chinese coking coal brand cluster, Shanxi Coking Coal signed a medium- to long-term cooperation agreement on the purchase and sale of coking coal with Hebei Taihang, Hebei Huafeng, and Zhongtian Steel. So far, the total number of coking coal long-term cooperative customers in Shanxi has reached 26.
Yuanxing Energy: The final output of the third production line depends on the degree of equipment running-in
Today, Yuanxing Energy said on an interactive platform that the third production line of the first phase of the Alashan natural alkali project began loading on the same day. The first and second production lines have now reached production, with an average daily output of around 9,000 tons. The reporter noticed that in response to questions from investors on the interactive platform on November 27, Yuanxing Energy also stated that the production line “has not yet been submitted.” Why is progress being updated after only one day? Yuanxing Energy told reporters, “We also only got the information later this morning. Anyway, there is always a point in time.” Generally speaking, it takes some time for the soda ash plant production line from delivery to stable production. Referring to the output process of Yuanxing Energy's third production line, the staff member mentioned above said that the first production line took about two months from input to stable output. The second one is faster than the first one, but the progress of the first two times can only be used as a reference. The final output of the third production line depends on how well the equipment coincides. However, with regard to the final production capacity, the staff mentioned above stated that it is about the same as the previous two lines, and the average daily output is expected to be around 9,000 tons. (Financial Associated Press)
The dispute between OPEC and African oil-producing countries is still unresolved, or the meeting is facing further postponement
OPEC+ representatives said the organization has yet to resolve the impasse with some African member states over oil production quotas, which has forced the organization to postpone a meeting at a time when oil prices are falling. Delegates said the Saudi-led coalition failed to reach an agreement with Angola and Nigeria, two African countries opposed lower output quota restrictions in 2024. One representative said that before the OPEC+ meeting originally scheduled for November 30 is held, the conflict may not be resolved, or the meeting will need to be further postponed. Market observers predict that as crude oil prices fall, oil supply may once again be oversupplied, and OPEC will need to cut production further.
Anec: Brazil's soybean exports in November are expected to be 4.79 million tons
According to Brazil's National Association of Grain Exporters (Anec), Brazil's soybean exports in November are expected to be 4.79 million tons, compared to 1.92 million tons in the same period last year. Brazil's corn exports in November are expected to be 7.35 million tons, compared to 5.47 million tons in the same period last year. Brazil's soybean meal exports in November are expected to be 2.15 million tons, compared to 1.35 million tons in the same period last year.
Private exporters report exporting and selling 123,000 tons of soybeans to unknown destinations
The US Department of Agriculture (USDA) released data. Private exporters reported exporting and selling 123,000 tons of soybeans to unknown destinations, which were delivered in 2023/2024.