Page 128 - RusRPTSept23

hones in on metals critical to the energy transition — a strategy borne out by the recent multibillion-dollar acquisition of OZ Minerals Ltd. Yet while a raft of large global producers have been talking up the nickel market, businesses in Asia have been turning it on its head. Traditionally, nickel has been split into two categories: low grade for making stainless steel and high grade for batteries. A huge Indonesian expansion of low-grade production led to a surplus, but processing innovations have allowed that glut to be refined into a high-quality product that’s hitting the battery market. The rising Indonesian supply has helped drag prices down more than 30% this year, and analysts say there could be further declines in store as more metal makes its way to the London Metal Exchange. BHP warned today there’s too much nickel being produced and the oversupply will run into next year. The hope for the big miners is that the nickel they’re producing will, in time, be favored by carmakers on environmental grounds, since Indonesian output is largely powered by coal.
9.1.12 Transport sector news
● Ships
The freight turnover of Russian seaports rose 9.3% year on year to 526.8mn metric tonnes in January - July 2023, the press service of the Federal Agency of Maritime and River Transport said.
"The freight turnover of Russian seaports moved up by 9.3% year on year over seven months of this year against the like period of the last year and totaled 526.8mn metric tonnes," the Agency said.
Dry cargo throughput totaled 263.9mn metric tonnes (+16.8% annually). Bulk goods throughput totaled 262.9mn metric tonnes (+2.6%).
Freight turnover gained 2.2% year on year to 57.7mn metric tonnes in ports of the Arctic Basin, including 17.8mn metric tonnes of dry cargo (+14.6% annually) and 39.9mn metric tonnes of bulk liquid cargo (down 2.6%).
Seaports of the Baltic Basin had the 3.8% increase in the freight turnover to 149mn metric tonnes. Dry cargo throughput stood at 66.2mn metric tonnes (plus 17%). Bulk cargo throughput edged down by 5.1% to 82.8mn metric tonnes.
Freight turnover gained 18.4% year on year to 174.9mn metric tonnes in ports of the Azov-Black Sea Basin, with transshipment of dry cargo adding 29.5% annually to 83.4mn metric tonnes and bulk goods - up 9.9% to 91.5mn metric tonnes.
Seaports of the Far Eastern Basin were reported to have throughput of
RUSSIA Country Report September 2023 www.intellinews.com