1. Coking coal prices in Tangshan market remained stable. Coking plants mostly maintained normal production levels and shipped orders as scheduled. Profits for most coking plants were hovering around the break-even point. Downstream, most steel mills purchased only as needed, and both upstream and downstream companies focused on digesting existing inventory. Market trading was relatively quiet.
2. Australian producer Fortescue has submitted an application to the Western Australian (WA) Environmental Protection Department (EPA) seeking approval for the construction of the 12 million-ton-per-year Wyloo North iron ore project in the Pilbara region. The WA EPA stated on February 17 that it would accept public comments on the project until February 24.
3. Ahead of the USDA's annual Outlook Forum on February 19-20, analysts on average projected that U.S. soybean planting area for 2026/27 would be 84.9 million acres, ending stocks would be 349 million bushels, and production would be 4.412 billion bushels.
4. According to the 45th annual early-season planting intentions survey by the National Cotton Council (NCC), U.S. cotton growers plan to plant 9 million acres of cotton this spring, a 3.2% decrease from 2025.
5. According to two sources familiar with the matter, the U.S. Environmental Protection Agency (EPA) is expected to submit its 2026 biofuel blending quota proposal to the White House this week for final review. The Trump administration is striving to finalize the delayed new round of U.S. biofuel blending directives before the end of March, a self-imposed deadline. Typically, the White House has approximately a 30-day review period before a proposal is officially released.
6. The U.S.-ASEAN Business Council stated that U.S. and Indonesian companies have signed trade and investment agreements covering key minerals, semiconductor cooperation, and U.S. agricultural and forestry product exports. Indonesian companies will purchase 1 million tons of U.S. soybeans, 1.6 million tons of corn, and 93,000 tons of cotton within an unspecified timeframe.
7. Latest data from the Fujairah oil industrial zone in the UAE shows that as of the week ending February 16, 2026, total refined product inventories at the port of Fujairah were 20.547 million barrels, an increase of 848,000 barrels from the previous week, ending two consecutive weeks of decline.
8. US Energy Secretary Wright stated that Venezuela could increase its oil production by 30% to 40% this year, equivalent to an increase of approximately 300,000 to 400,000 barrels per day. Wright indicated that many companies have shown “significant” interest in entering the market of this Latin American producer.
9. Goldman Sachs analysts predict that if proposed strategic stockpiling by the US and potential Chinese investment leads to a reduction in metal inventories, their copper price forecast of $11,200 per metric tonne for the fourth quarter of 2026 will face upside risks.
10. The National Stock Exchange of India's clearing department announced that, effective February 19, the additional 7% margin requirement for all silver futures contracts (all types) will be eliminated. The 3% additional margin requirement for gold futures contracts (all types) will also be eliminated.
