Commodity Intelligence Equity Service

Monday 14 September 2026
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Featured

Beyond Yanbu: The Middle-Distillate Squeeze & The 2026 Inventory Cliff

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Macro

PM Modi Conveys Best Wishes For China’s BRICS Presidency In Meeting With President Xi


New Delhi: Prime Minister Narendra Modi said on Saturday that he conveyed best wishes for China’s BRICS Presidency next year, during his meeting with Chinese President Xi Jinping on the sidelines of the 18th BRICS Summit.

“Met President Xi Jinping on the sidelines of the Delhi BRICS Summit. We reviewed the full range of India-China relations. Also conveyed best wishes for China’s BRICS Presidency that commences next year,” PM Modi said on social media platform X after the meeting.

According to a statement issued by the Ministry of External Affairs (MEA), the two leaders emphasised that “differences should not become disputes” and reaffirmed that both countries should take a strategic and long-term perspective of their ties.

“The two leaders welcomed the steady progress in India-China bilateral relations since their last meeting in Tianjin in August 2025. They reaffirmed that both countries should take a strategic and long term perspective of their ties. Differences should not become disputes. Prime Minister highlighted that both sides must be guided by three mutuals — mutual respect, mutual sensitivity and mutual interest,” the statement said.

During the meeting, PM Modi stressed that peace and tranquillity in the border areas remain an essential basis for the continued development of bilateral relations.

“He underlined the need for both sides to observe existing agreements and understandings on border-related issues. The two leaders expressed commitment to a fair, reasonable, and mutually acceptable resolution of the boundary question proceeding from the political perspective of their overall bilateral relations and the long-term interests of the two peoples,” the MEA statement added.

Both leaders also took note of the progress in people-to-people ties and underscored the need to further promote cultural exchanges, business linkages and greater mobility between the two countries.

“On economic and trade relations, they underlined the need to address each other’s concerns, including structural trade imbalance and supply chain issues, and facilitation of meaningful and predictable market access,” the statement said.

According to the MEA, the two leaders agreed that both sides must continue to expand common ground on regional and global issues, and in addressing challenges.

(IANS)


https://ommcomnews.com/india-news/pm-modi-conveys-best-wishes-for-chinas-brics-presidency-in-meeting-with-president-xi/

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Oil and Gas

Trump Tells Ukraine's Zelensky to Stop Hitting Russian Diesel


U.S. President Donald Trump on Sunday called on Ukrainian President Volodymyr Zelensky to stop targeting Russian diesel infrastructure, saying the attacks were causing a shortage of the fuel that is “hurting the world.”

A wave of long-distance Ukrainian drone attacks on Russian oil refineries in recent months has reduced that country's fuel production, triggering gasoline shortages across the country.

Ukraine, which faces regular Russian attacks on its own energy infrastructure, says refineries are legitimate military targets.

The U.S. national average price for diesel, which is used by trucks, trains, ships and farm equipment, rose over $6 a gallon for the first time on Thursday, according to price tracker GasBuddy.

“Mr. Zelensky has to do one thing: He has to stop knocking out diesel fuel in Russia,” Trump told journalists during a visit to the Irish Open, which is being held in the west of Ireland on a golf course owned by his family.

“We spoke to Mr. Zelensky about it. There are plenty of other targets. Don't hit diesel fuel. That's hurting the world,” he said.

The global shortage “isn't done by the Middle East, this is done by what's happening with Russia and Ukraine,” Trump added.

Russia downgraded its oil output forecast for this year to a 17-year low and revised its fuel exports outlook for 2026 and 2027 due to the war, according to a government draft forecast seen by Reuters.


https://www.themoscowtimes.com/2026/09/13/trump-tells-ukraines-zelensky-to-stop-hitting-russian-diesel-a93696

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QatarEnergy Explores US LNG Deals to Offset Production Losses

QatarEnergy Explores US LNG Deals to Offset Production Losses

QatarEnergy is in talks with several US liquified natural gas (LNG) producers to secure multi-year supply agreements extending through 2031, as the company seeks to make up for production capacity lost following attacks on its Ras Laffan facilities, according to three commercial and oil and gas industry sources cited by Reuters.

The discussions reportedly include Venture Global, Cheniere, and Woodside, with QatarEnergy Trading, QatarEnergy’s trading arm, looking to secure between 2 and 3 million tons per year (mt/y) of LNG through 2031, one of the sources said.

The potential agreements represent a shift in QatarEnergy’s approach to managing the supply shortfall. The company had previously relied on purchasing multiple US LNG cargoes from the spot market to help fulfill its commitments to some Asian customers. It is now seeking longer-term supply arrangements to provide greater certainty over available volumes.

QatarEnergy’s Ras Laffan facilities were damaged during Iranian attacks in March, affecting two of its 14 LNG production trains, in addition to a gas-to-liquids facility.

QatarEnergy CEO Saad Al Kaabi said in March that the repair process would take three to five years, resulting in the temporary loss of approximately 12.8 mt/y of LNG production capacity.

Since production was disrupted in March, QatarEnergy has continued to renew its force majeure notices on a monthly basis. The latest notices have been extended through November, while further extensions remain possible amid continued uncertainty over the Strait of Hormuz.

Qatar typically sends around 80% of its LNG exports to Asian customers, leaving the company under pressure to secure alternative supplies as uncertainty over the waterway continues.

The disruption has also prompted some Asian LNG buyers to explore alternative sources to replace Qatari volumes. Market participants are assessing different scenarios based on the potential duration of the disruption and the availability of Qatari LNG.

One industry source said QatarEnergy would likely seek to secure whatever additional volumes are available as it works to compensate for the production shortfall.


https://egyptoil-gas.com/news/qatarenergy-explores-us-lng-deals-to-offset-production-losses/

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Former ISIS Official Arrested in Kirkuk as Operations Intensify Before Coalition Exit

Former ISIS official arrested in Kirkuk as operations intensify before coalition exit

KIRKUK — Military intelligence arrested a man known as Abu Sahir in Kirkuk’s Yaychi subdistrict on Sunday, saying he held several positions in the Islamic State group while it controlled parts of Anbar, in the latest of a run of operations across four governorates in the fortnight before the U.S.-led coalition’s mission ends.

Intelligence monitoring located him before the arrest, which was carried out by the 8th Division intelligence department and the Yaychi intelligence branch, the Security Media Cell said. He served with the group’s Yarmouk Division in the Saqlawiyah sector of Anbar and worked in what it called its Diwan of Services, the administrative body that ran utilities and public services in areas under its control, according to the statement. Legal procedures have begun before he is referred to the judiciary.

In the Kurdistan Region, security forces arrested a man they describe as an ISIS religious emir after an exchange of fire in Khurmal, in Halabja governorate, at 11:20 p.m. on Saturday, an operation the Kurdistan Region Security Agency said ended without casualties. Twenty-two suspects were held over four days, with two armed cells dismantled across Sulaymaniyah and Halabja under judicial authorisation. Heavy, medium and light weapons, hand grenades, military binoculars and ammunition were seized, which the agency said were intended for attacks “in the middle of this month.” All 22 are Kurdish, investigations continue, and the agency said it would release their alleged confessions later. Its account has not been independently verified.

Iraqi F-16s destroyed a hideout in the Narin area of Diyala with two missiles on Saturday, the Security Media Cell said, without saying whether anyone was killed. The site was identified in the Diyala Operations Command sector through Military Intelligence Directorate information and aerial surveillance from the reconnaissance centre in the commander-in-chief’s office. The same day, ISIS gunmen attacked an army post on the outskirts of Hawija, southwest of Kirkuk, damaging a thermal camera without causing casualties.

The coalition mission is due to end on Sept. 30 under the 2024 agreement between Baghdad and Washington. Coalition forces are being moved out of the Kurdistan Region daily and Iraq should avoid a security vacuum when they go, KRG Interior Minister Rebar Ahmed said this week, urging Baghdad to build bilateral security relationships with coalition countries to replace it.

Iraqi aircraft destroyed eight hideouts in Kirkuk in August, the fourth operation there in about five weeks, and F-16s carried out three strikes north of Kirkuk in July after a Counter-Terrorism Service officer was killed inspecting previously hit sites. The group seized Mosul and Tikrit in 2014 and became known for its brutality and its attacks on minority communities. It was largely defeated by 2017, with remnants operating from remote areas since.


https://en.964media.com/52488/

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Private Operators Push for Fuel Price Hike

  • Govt may consider the request; CPC ready to cushion impact

By Damith Wickremasekara

The government may consider a request by private operators to adjust their fuel prices according to the landed cost in view of the fluctuating world fuel prices, Energy Minister Anura Karunathilaka said.

“There is no legal hurdle to such fuel price adjustments going by the agreements in place with these private operators,” the minister told the Sunday Times.

Meanwhile, private fuel operators have informed the government that escalating landed costs for fuel due to the ongoing conflict in the Middle East are making it difficult for them to sell fuel at the current prices.

A senior official said private operators, including IOC, Sinopec, and RM Parks, have voiced their concerns over the landed cost of fuel, which is surging due to the disruption to sea routes due to the West Asia conflict.

However, the Ceylon Petroleum Corporation (CPC) will not add the landed costs to the fuel sold by them despite the escalating costs. “The CPC is incurring heavy losses but will not adjust prices based on landed costs,” the official said.

Meanwhile, the CPC will be forced to consider more regular fuel price adjustments from next month, keeping with rising fuel prices, given the sharply fluctuating world prices for crude and refined fuels, a senior government official said.

At present retail prices are managed through a periodic pricing formula, and it does not reflect the changes in world market prices leading to massive losses for the CPC, the official said.

However, with the current sharp increase in fuel costs and higher landed prices, the adjustments will be more frequent, and this will likely push up prices more regularly, he said.

CPC Chairman D.J. Rajakaruna said the price of both petrol and diesel has risen sharply due to the conflict in West Asia

He explained that even if fuel costs remain flat, the time the order is placed is two months or so before the country takes delivery of stocks. The final price changes because of the Landed Cost Formula, which includes multiple volatile variables that are only calculated when the tanker unloads the stocks.

He said that the CPC wants to ensure that it serves the public and will cushion some of the price hike impact.


https://www.sundaytimes.lk/260913/news/private-operators-push-for-fuel-price-hike-656962.html

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StanChart Warns Oil Is Now Built for Sharper, More Frequent Spikes

By Alex Kimani - Sep 13, 2026, 6:00 PM CDT

  • Oil prices briefly approached $110 as hopes for a quick U.S.-Iran resolution faded, with Standard Chartered expecting continued volatility and increasingly sharp upside price spikes.
  • Diesel, gasoil and jet fuel remain particularly tight, as depleted inventories, limited spare capacity and logistical disruptions leave refined products especially vulnerable.
  • Europe’s gas crisis is also intensifying, with prices above €81/MWh, storage at a 15-year seasonal low and Qatari LNG exports through Hormuz still severely constrained.

Oil prices hit nearly $110 per barrel on Thursday for the first time since July, with no end in sight for the Middle East conflict. The IRGC announced on Wednesday that it had attacked and heavily damaged eight oil tankers and two U.S. Navy destroyers in the Strait of Hormuz, in retaliation after the U.S. military destroyed five IRGC-linked oil tankers in the Gulf of Oman on Tuesday night. CENTCOM has, however, denied the IRGC claims. Hopes for a quick resolution to the war have also faded after U.S. President Donald Trump said that the war is unlikely to end before the midterm elections in November, while advisors have allegedly warned him the war could last for the rest of his term. By Friday morning at 7:10 a.m. ET, Brent crude was trading at $103.58, while WTI was trading at just over $98. And now oil and commodity analysts at Standard Chartered have predicted that the ongoing sharp oil price gyrations on headlines will continue through the third quarter amid the ongoing stalemate in the US-Iran conflict, with little sign that diplomatic progress will relieve export restrictions through the Strait of Hormuz.

StanChart says middle distillates remain extremely strong, with some venues under extreme stress as heat and drought compound logistical bottlenecks. The bank expects the strength in middle distillate cracks (the price difference between a barrel of crude and the fuels a refinery makes from it) to continue, with diesel, gasoil and jet outperforming gasoline. Expectations that the conflict keeps dragging on are pushing some of that strength into longer-dated contracts, StanChart says. The bank forecasts oil averaging $77.50 a barrel in 2027 on returning demand (particularly from China's imports) and the need to both refill and expand depleted strategic reserves.

Meanwhile, the 42nd annual APPEC (Asia Pacific Petroleum Conference) in Singapore concluded on Thursday, with market participants appearing increasingly positioned for a prolonged Middle East conflict.

According to StanChart, China’s rebounding appetite for crude imports, alongside its ability to redirect refined product supplies to increasingly tight Asian markets, has emerged as an important potential source of flexibility in global oil flows. Consumers are increasingly placing greater value on optionality across crude grades, suppliers, refining configurations and product sources after repeated disruption reshaped established trade flows.

The energy experts see oil markets remaining vulnerable to oil price spikes: whereas alternative barrels can often be found, there is progressively less spare capacity, inventory and logistical slack available when multiple disruptions occur simultaneously. 

StanChart says the price implication is increasingly asymmetric, with a market characterized by more frequent and sharper upside price spikes, even if rallies are subsequently faded. The upside tail is getting fatter, with volatility commanding a greater premium. This implies that refined products will continue to be more vulnerable to disruptions than crude.

At the same time, Europe’s natural gas rally is showing little signs of slowing down, with prices rising above €81/MWh on Thursday, the highest level since December 2022 in large part due to the Middle East disruptions. A Qatar-loaded LNG carrier sailed through Hormuz on 8th September bound for Pakistan. The transit followed several empty Qatar-linked LNG carriers returning towards the Persian Gulf, providing the clearest evidence yet that Qatar may be testing the feasibility of restarting exports through the waterway. However, StanChart notes that substantial uncertainty remains around whether this represents the beginning of sustained exports.

Outbound LNG flows from the Persian Gulf remain well below pre-war levels, while QatarEnergy recently extended force majeure on LNG deliveries to European and Asian buyers into October and November. Qatar has also continued operating Ras Laffan at reduced rates, keeping equipment operational and retaining the flexibility to ramp up more quickly if conditions permit. StanChart says a short-term spurt of exports of LNG already loaded onto vessels inside the Gulf is possible without signalling a sustained recovery in Qatari supply, noting that repeated safe passage alongside evidence of a broader production ramp-up before the markets materially reduce the supply-risk premium embedded in European gas prices.

Meanwhile, stronger Continental Northwest Europe (CNWE) storage injections, alongside fresh unplanned curtailments at key Norwegian gas assets, have tightened Europe’s gas balance. European storage stands at just 66% of full capacity, 12 percentage points lower than the same period last year and marking a 15-year low for this time of year. To exacerbate matters, the deficit is heavily concentrated in Europe's largest economies, with Germany’s inventories at 54% while the Netherlands is at 48%.

Experts have warned that Germany could see a demand-supply gap as wide as 25% on peak January days if winter temperatures come in lower than expected.

By Alex Kimani for Oilprice.com


https://oilprice.com/Energy/Oil-Prices/StanChart-Warns-Oil-Is-Now-Built-for-Sharper-More-Frequent-Spikes.html

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Precious Metals

Gold Fields Appoints Seasoned Legal and Governance Professional Andiswa Ndoni

Johannesburg - Appointment brings more than three decades of legal, governance and company-secretarial experience into a broader restructuring of the mining group's governance, compliance and ethics functions.

Gold Fields has appointed Andiswa Ndoni as Interim Company Secretary, effective 1 September 2026, placing an experienced corporate governance and legal practitioner at the centre of an ongoing restructuring of the group's governance, compliance and ethics functions.

The appointment, announced with Gold Fields' interim results on 25 August, is not simply a change in the company's secretariat. Ndoni arrives with more than 31 years' experience in the legal profession, spanning corporate and commercial law, corporate governance and company-secretarial practice. She is an admitted attorney with an LLB and BProc.

Her professional history gives some context to the appointment.

Before joining Gold Fields, Ndoni served as Managing Counsel for South Africa from January 2026, while also founding Amor Fati Capital, a business focused on corporate governance, ESG and executive coaching. Her earlier career includes senior governance roles at Exxaro Resources, where she served as Chief Strategic Resilience and Governance Officer and previously as Group Company Secretary.

At Exxaro, her responsibilities extended beyond the traditional company-secretarial function. She was accountable for the secretariat function, JSE Listings Requirements compliance and group-wide governance, legal, compliance and risk activities. She also provided legal guidance to the board and participated in the company's ESG steering committee.

That breadth is significant in the context of her new role at Gold Fields. A modern company secretary is not merely responsible for administrative board processes. The function sits at the intersection of board governance, regulatory compliance, shareholder interests, corporate disclosure and ethical oversight.

Ndoni also brings previous experience as Group Company Secretary at Barloworld and as Group Company Secretary and Legal Executive at Basil Read, where her responsibilities included governance, legal, stakeholder affairs, risk and internal audit. Earlier in her career, she established the legal function at Ubank and practised as an attorney.

Gold Fields has confirmed that its board is satisfied that Ndoni has the requisite knowledge and experience for the interim role and that the relevant fit-and-proper assessment has been completed. She succeeds Anré Weststrate, whom the board thanked for her contribution. A permanent company secretary will be announced in due course.

The timing is noteworthy. Gold Fields is entering the second half of 2026 with strong financial momentum, while simultaneously progressing strategic growth projects and managing regulatory and stakeholder considerations across its international portfolio. Its H1 results reported profit attributable to owners of US$1.855 billion, up 81% year on year.


https://www.linkedin.com/pulse/gold-fields-taps-governance-veteran-andiswa-ndoni-interim-gqvsf

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China Finds 200 Mineral Deposits in 2025: 16 Gold, 11 Iron

China identified 200 non-oil and gas mineral deposits during 2025, a total that included 16 gold deposits and 11 iron deposits, according to the Ministry of Natural Resources China Mineral Resources 2026 report. The findings, reported by TradeArabia News Service, point to sustained growth in geological exploration investment and continued progress in locating new mineral resources.

The report was released at the 28th China Mining Conference and Exhibition in Tianjin. It also noted major breakthroughs in conventional oil and gas exploration, especially in new layers and zones within the Tarim and Junggar Basins.

Coal output for 2025 reached 4.85 billion tonnes, up 1.4 per cent from a year earlier. Crude oil production rose 1.5 per cent to 216 million tonnes, extending a run of growth to seven consecutive years. Natural gas output increased 6.3 per cent to 262.06 billion cubic metres.

Over the 2021-2025 Five-Year Plan period, China identified 398 new large and medium-sized strategic mineral deposits, with notable discoveries in copper, gold and potash.


https://www.indexbox.io/blog/china-reports-200-new-mineral-deposits-in-2025-including-16-gold-and-11-iron-finds/

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Gold Slips to $4,336 as Rate-Hike Bets Lift Yields

Publish: 14 September, 2026 08:36

Gold prices edged lower on Monday (September 14), slipping 0.3% to $4,336 an ounce as elevated US bond yields and growing expectations of interest rate hikes by the Federal Reserve and Bank of Japan reduced the appeal of the non-yielding metal.

The decline came despite renewed turmoil in the Middle East pushing oil prices sharply higher and weighing on global equity markets.

Gold had rebounded more than 1% on Friday to $4,363.01 an ounce after recent losses, although it still ended last week down about 1.5%.

Investor focus has shifted towards Wednesday’s Federal Reserve policy decision after US consumer prices rose faster than expected in August.

Financial markets are now pricing in an 86% chance that the Fed will raise interest rates by 25 basis points this week, with another increase seen as possible by December.

Higher interest rates and bond yields tend to weigh on gold because bullion pays no interest, increasing the opportunity cost of holding the precious metal.

US Treasury yields remained close to multi-year highs. The benchmark 10-year yield stood around 4.97%, while the two-year yield had climbed 26 basis points over the previous week as investors increased bets on tighter monetary policy.

Gold also faced pressure from expectations that the Bank of Japan could tighten policy further. Markets put the probability of a quarter-point BOJ rate increase on Friday at around 76%, which would take its policy rate to 1.25%.

Meanwhile, oil prices rose sharply as escalating Middle East tensions renewed concerns over global supplies.

Brent crude climbed above $107 a barrel after fresh attacks on Saudi Arabia and vessels in the Gulf added to concerns over the shutdown of Saudi Arabia’s East-West pipeline and threats to shipping through the Strait of Hormuz and Bab el-Mandeb.

Higher oil prices are adding to inflationary pressure worldwide, strengthening expectations that central banks may need to keep monetary policy tighter for longer.

Asian shares fell as investors weighed the combination of higher energy costs and tighter monetary policy. Japan’s Nikkei dropped 1.7%, South Korea’s benchmark lost 3.3% and MSCI’s broadest Asia-Pacific index outside Japan fell 0.8%.

For gold, investors are now watching the Fed’s decision and signals on the future path of US interest rates, with movements in Treasury yields likely to remain a key driver of bullion prices.


https://en.banglanews24.com/business/news/bd/195759.details

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Steel

POSCO's First Strike in 58 Years

POSCO suffered its first strike in 58 years. About 100 members of Pohang and Gwangyang Steelworks participated in the 48-hour partial strike from the 9th. It is about 1% of all members. Replacement workers were put in, and core processes such as steelmaking and steelmaking were subject to agreement work, so there was no production disruption. The blast furnace did not stop, but the conflict remained the same. The union announced that if there is no progress, it will go on a 120-hour partial strike from the 16th.

The union should not be driven by the symbolism of the first strike. Complaints have piled up that compensation is delayed in a year when performance is good, and that if it becomes difficult, it is required to share the pain. There were also disputes over fairness over in-house subcontract employment, lack of manpower, and problems with old facilities. The union leader said the strike was a means, not an end.

However, the reasons for the complaint and the reality of the demand are separate. The union demands a 7.1 percent increase in basic salary, 600 percent in incentives, 50 weeks of employee stock ownership, and 200 percent in holiday bonuses. The company estimates that it will cost about 1.4 trillion won if it accepts all of them. This is 80% of last year's operating profit of 1.78 trillion won. Operating profit in the first half of this year was 487.3 billion won, down 43% from a year ago, and management is returning some of their wages. Considering the industry and the ability to pay, it is not easy to carry out the demand as it is.

Raising the strike level does not answer. As it is a company that supplies steel to automobiles, shipbuilding, and home appliances, the cost of conflict does not end within the fence if the 120-hour strike becomes a reality.

It's not like the company closed the door to conversation. President Lee Hee-geun canceled his business trip to the groundbreaking ceremony of the U.S. steel mill and visited the site, and held a meeting with the chairman of the union. Before and after the negotiations, he issued two statements and explained the situation directly to the employees. Despite the difficult business conditions last year, labor and management reached an agreement after negotiations. Nevertheless, this year, the National Labor Relations Commission suspended the adjustment and eventually went on strike. In other words, the same labor and management came to a different path in a year.

What is needed is neither a longer strike nor a stronger message. The union must acknowledge the reality facing the company, and the company must acknowledge the accumulated complaints on the ground and move one step at a time. Although the furnace did not stop, the cost of labor-management conflict continues to pile up.

[Reporter Park Seungjoo from the industry department]


https://www.mk.co.kr/en/journalist/12151553

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Rwanda: 250,000 Tonnes of Steel Per Year to Reduce Imports

Rwanda has inaugurated an integrated steel plant in Musanze capable of producing 250,000 tonnes annually. The country aims to reduce a steel import bill that exceeded $150 million in 2025.

Kigali, Rwanda

On September 11, 2026, Rwanda officially inaugurated A1 Iron & Steel Rwanda Ltd, an integrated steel plant capable of producing approximately 250,000 tonnes of steel annually, in Musanze. The project aims to help the country reduce its reliance on imports of steel products, which exceeded $150 million in 2025.

Prime Minister Justin Nsengiyumva inaugurated the facility in the industrial park of Musanze, located in the northern part of the country. The plant processes iron ore into finished products intended primarily for construction and infrastructure, including rebar, nails, tubes, wires, and other metal profiles.

The facility operates on an integrated chain that spans from ore processing to direct iron reduction, followed by melting, casting billets, and manufacturing steel products. This setup is expected to allow Rwanda to retain more added value within the country instead of importing a significant portion of its steel material needs.

The project, backed by Indian investors, was announced with an investment of approximately $20 million. The Rwandan Ministry of Trade and Industry indicated at the project’s launch that the plant would target an annual capacity of 250,000 tonnes and create around 1,000 direct jobs, in addition to indirect employment in mining, transportation, logistics, maintenance, and services.

An import bill exceeding $150 million

According to figures cited during the inauguration, Rwanda imported over $150 million worth of steel products in 2025. Kigali anticipates an increase in demand due to investments in roads, buildings, housing, energy, and other infrastructure, which underscores the need for greater local production.

The government has urged A1 Iron & Steel to fully utilize its capacity, enhance productivity, and train more Rwandan workers. Authorities also expect the site to facilitate a transfer of industrial skills and develop relationships with local suppliers.

The company aims, in the long term, to supply neighboring markets, including the Democratic Republic of Congo, Burundi, Uganda, Tanzania, and South Sudan. Its stated goal is to develop a regional brand of steel products manufactured in Rwanda, beyond merely replacing domestic imports.

The foundation stone of the plant was laid in November 2024 in the Musanze industrial park. Production eventually commenced in April 2026, ahead of the official inauguration of the site on September 11.


https://beninwebtv.bj/en/rwanda-250000-tonnes-of-steel-per-year-to-reduce-imports/

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Coal

‘Coal Demand Likely to Keep Steady Pace’

�Coal demand likely to keep steady pace�

In its Coal Mid-Year Update 2026, the International Energy Agency (IEA) said coal plants in the Philippines are already running at high load factors, helping sustain demand.

MANILA, Philippines — Coal demand is expected to remain stable this year as the ongoing energy emergency keeps coal-fired power plants vital to meeting the country’s electricity needs.

In its Coal Mid-Year Update 2026, the International Energy Agency (IEA) said coal plants in the Philippines are already running at high load factors, helping sustain demand.

The IEA also sees rising electricity demand in the Philippines, alongside Indonesia and Vietnam, supporting further growth in coal use across Southeast Asia next year.

Across ASEAN, coal demand is set to continue growing this year, reaching around 574 million tons.

With global fuel markets remaining tight amid ongoing supply disruptions in the Middle East, the Philippines is pushing for the full dispatch of coal facilities.

Energy Secretary Sharon Garin has said coal “remains one of the cheapest options” for power generation.

The country has one of the most coal-dependent power grids in the region, with coal accounting for around 60 percent of its energy mix. Its coal consumption was forecast to reach 47 million tons last year, according to the IEA.

By 2030, the Philippines’ coal demand is seen rising by 15 percent to 54 million tons, keeping the country among the region’s largest consumers.

The Department of Energy imposed a coal moratorium in 2020 to reduce the country’s reliance on fossil fuels.

The ban, however, does not cover existing and operational coal power plants or those that are already committed projects.

Also excluded are the indicative projects with substantial accomplishments and approved clearances from local government units and the regional development councils where they are located.

Energy Undersecretary Rowena Cristina Guevara said a coal transition plan is set to be issued, including a work program for developing coal projects exempt from the existing moratorium.

The move could add three to five gigawatts of new baseload capacity.

Coal plants are regarded as reliable sources of baseload power because they can operate continuously and provide a steady supply of electricity.

In recent months, however, the simultaneous shutdowns of several large coal plants have contributed to the continued power supply strain in the Visayas and Mindanao.


https://www.philstar.com/business/2026/09/14/2556026/coal-demand-likely-keep-steady-pace

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