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Volumes traded for the scrap futures contracts on the London Metal Exchange, which settle basis the Platts assessment, increased on the week. Weekly LME scrap futures trading volumes in the week to Sept. 19 increased to 194,970 metric tons, up from 124,570 metric tons in

UK battery recycler Technology Minerals has announced that its 48.35% owned battery recycling business, Recyclus Group, has completed a 10-week program recycling 4,000 end-of-life lithium-ion battery modules sourced from electric vehicles. In a statement released Sept. 25, the London-list company said the program was complete

India has slashed the export duty on parboiled rice to 10% from 20%, effective immediately, the country’s Ministry of Finance (Department of Revenue) said in a notification released Sept. 27. The move is likely to boost rice exports and raise prices in India’s domestic rice

A proposed 12-month delay in implementing the EU’s anti-deforestation rules (EUDR) on agricultural imports is bullish for palm oil markets as it would likely drive higher-than-expected demand from the bloc, palm oil traders and analysts said Oct. 3. On Oct. 2, the European Commission proposed

India has initiated an antidumping investigation on imports of hot-rolled flat products from Vietnam, according to a gazette notification published Aug. 14, seen by Platts and according to two sources familiarized with the matter. The Directorate General of Trade Remedies (DGTR) will investigate imports of

Saudi shipping company Bahri has agreed to buy nine “modern eco scrubber” VLCCs for about $1 billion, with the first deliveries of the very large crude carriers expected before the end of the first quarter of 2025. The seller, Greece-based Capital Maritime & Trading, will

US ferrous scrap imports from Canada were put at risk as a labor dispute halted cross-border rail transport, which could support domestic US prime scrap prices in September domestic monthly trade negotiations if the disruption is prolonged. A shutdown of Canada’s rail network started Aug.

Canada intends to apply a 25% surtax on imports of steel and aluminum from China and a 100% surtax on all Chinese-made electric vehicles in October in an effort to protect its domestic industries from alleged unfair trade practices, the government said Aug. 26. The

Fires continue to burn on the Greekcrude tanker paralyzed by Iran-backed Houthi militants earlier this month but no oil has been spilled from the vessel, the EU said Aug. 28. The Suezmax Sounion , when transporting 1 million barrels of Basrah Heavy crude from Iraq

Mexico is trying to reactivate a costly deepwater natural gas project it abandoned in hopes of cutting the country’s dependence on imported gas and to recoup some of its original investment. But critics question the decision, warning the project’s high complexity could end up being

Algeria goes to the polls Sept. 7 in a vote almost certain to see incumbent President Abdelmadjid Tebboune elected for a second term, and with it a seamless continuation of the North African producer’s current energy strategy prioritizing gas supplies to Europe and participation in

The price of FOB Russian wheat with 12.5% protein content has not exceeded $223/metric ton since July 3, with the market seeing a 14.5% decline since June, S&P Global Commodity Insights data showed Sept. 12. These low prices have helped maintain steady export volumes at

US beef market participants and related industry professionals have conflicting opinions about the potential for a strike on the US East and Gulf Coasts by the International Longshoremen’s Association, a union that represents dockworkers in those regions. The ILA’s current six-year contract agreement with the

US grain and feed exporters are facing difficulties in securing export sales in October as the International Longshoremen’s Association has threatened to strike and shut port operations along the East and Gulf coasts. Containerized US agricultural and feed export products have experienced mixed impact from

Shipping companies will likely continue to reroute their ships via the Cape of Good Hope and avoid the Red Sea well into next year, as the industry has adapted to the change in trade flows, said Ocean Network Express’ CEO Jeremy Nixon Sept. 24. “There

Australia cut its projected metallurgical coal exports for 2024-2025 (July-June) by 6.4% to 161 million metric tons from 172 MMt projected in June 2024, data released by the Department of Industry, Science and Resources showed Sept. 30, amid lower production. The met coal production forecast

The urea market in the United States experienced a significant price increase amid escalating conflicts between Israel and Iran, on Oct. 2. While the International Longshoremen’s Association strike on the East and Gulf Coasts , which began on Oct. 1, raised concerns for most imports,

Kazakhstan is considering introducing export duties on commodities, including metals, to cover its budget deficit, while stimulating more downstream processing to be done domestically, local media reports said Aug. 15. The country could introduce certain fixed duties on the export of sulfur, coal, ferroalloys, copper

Platts US SOYBEX FOB New Orleans price hit $382.87/mt on Aug. 16, which was the lowest price since August 2020. US Gulf Coast cargo export prices have fallen nearly $100/st in a steady decline since May 2024 amid favorable growing conditions and a slower export

Asia’s low sulfur fuel oil refining margins surged to its highest level in nearly five months, while the market structure for the IMO 2020-compliant marine fuel grade also strengthened to its widest backwardation since early March, buoyed by tight prompt supplies on the back of

The average age of crude and refined product tankers is increasing, while the total fleets growth is expected to be between less than 1% to 2% in 2024, pushing out previously available discounts for older ships as the global fleet’s age reaches the highest average

China has suspended approvals for the new steel capacity swaps from Aug. 23 to revise its years-old swap measures, but such a move is seen as too late to curb the steel industry’s expansion, market sources said Aug. 29. The focus of the revision is

The total number of bids, offers and trades reported during the physical Platts Market on Close assessment process in August declined as the market entered the post-summer shoulder period, with market uncertainty dampening buying interest, according to S&P Global Commodity Insights data and market feedback.

The stormy and rainy weather seen in Spain during the past week boosted water reservoir levels across the country, which is typically a positive indication for agriculture. However, recent hailstorms brought on by storm DANA resulted in damages to some agricultural crops, especially in the

Japan’s ENEOS canceled a 55,000-metric ton naphtha cargo purchase from Spain’s Cepsa after the LR1 Hafnia Nile hit the VLCC Ceres I July 19, several sources familiar with the matter said Sept. 12. “The deal was canceled because it was not possible for the cargo

Access to competitively priced raw materials is a major challenge for the European stainless steel industry, Antonio Marcegaglia, CEO of Italian steelmaker Marcegaglia, told delegates at the SMR Stainless Steel conference in Rome on Sept. 17. “We still face tight scrap availability, while nickel pig

China has released 8 million metric tons of export quotas for clean oil products, and 1 MMt for low sulfur fuel oil in the third batch, sources close to the matter told S&P Global Commodity Insights Sept. 20. The new allocation pushed the combined export

A bipartisan set of US lawmakers announced on Sept. 25 plans to introduce legislation after the November election that aims to boost US shipbuilding capability and incentivize the use of US-flagged vessels, arguing the move is needed to protect US strategic interests in the Red

The looming port strike by the International Longshoremen’s Association that threatens to shut down ports across the US East Coast and Gulf Coast starting Oct. 1, could cause “significant” disruption to the fertilizer trade, according to the The Fertilizer Institute, a US-based trade group. ILA

The EU has pushed ahead with plans to impose antidumping duties of up to 36.4% on Chinese biodiesel imports, it said Aug. 16, after finding that European producers had struggled to breakeven in 2024 due to an influx of supply. Effective from Aug. 16, provisional

The Arkansas Electric Cooperative Corporation recently announced it has started the process to bring a 900-MW natural gas-based generation plant online in northeast Texas by 2029. Construction of the facility, located in the Southwest Power Pool footprint, is slated to begin in summer 2026 as

Destination demand for Brazilian soybean meal has showed some improvement over the past few days after spot prices dropped to near 4-year lows while traders eye new sustainable regulations to be implemented by the European Union in December. Cash prices for Brazilian soybean meal have

LNG exports from West Africa to Europe are making up a bigger share of volumes in August despite favorable arbitrage economics to Northeast Asia, because of relatively cheaper shipping costs and lower oil-linked contract prices to the Continent, according to traders and S&P Global Commodity

Year-to-date trading of CFR Turkey scrap futures contracts on the London Metal Exchange reached an all-time annual high after reaching 8.32 million metric tons, accordig to the latest data to Aug. 28. The trading volume of LME CFR Turkey scrap futures for the year up

The LR1 Hafnia Nile, which collided with the VLCC Ceres I July 19, has completed the transfer of less than 50,000 metric tons of Spain-based Cepsa’s naphtha cargo to LR1 Hafnia Guangzhou in Malaysia, several sources involved in the exercise said Sep. 2. “The [naphtha]

Morocco continues to import the bulk of Kazakhstan’s sulfur exports, sustaining a trend seen throughout 2024, according to S&P Global Global Trade Atlas data on commodity flows out of the landlocked Central Asian country. In the first seven months of 2024, Kazakkstan exported about 2.9

Volumes traded for scrap futures contracts on the London Metal Exchange, which settle on Platts assessment basis, dipped on the week despite a flurry of restocking as physical spot prices stabilized. After a period of upside in early September, spot prices for physical imports of

India’s Vedanta Aluminium confirmed that its Lanjigarh alumina refinery in Odisha state was operating after a breach at water storage facility, the company’s parent Vedanta said Sept. 18. The breach “occurred during the early hours of Sept. 15, 2024, due to unprecedented rains in the

The volume of thermal coal derivatives traded and cleared by brokers affiliated to the London Energy Brokers Association rose to a four-month high in August as prices remained volatile in the Atlantic region, according to LEBA data Sept. 23. The total derivatives volume traded and

A curtain of pessimism appears to have settled over the US oil and gas industry in the third quarter as presidential election uncertainties loom and operators weather a challenging commodity price environment, according to the Dallas Federal Reserve Bank’s latest energy sector survey released Sept.

As Europe enters the fourth quarter, and the official start of the gas winter, markets remain on edge, with the expiry of the Russia-Ukraine gas transit deal at year-end in sharp focus. While gas demand is still well down on pre-2022 levels, any new supply

Russian thermal coal exports increased in the May-July period from the previous three-month period (February-April) driven by an increase in imports from major consumers in the Asia-Pacific and the Mediterranean regions coupled with an export tariff reduction by the Russian government at the start of

Milder weather forecast for the US Northeast in the week starting Aug. 19 is projected to push regional gas-fired power burn demand to its lowest since late June in a potential downside risk to spot gas prices. From Aug. 20-23 the Northeast population-weighted temperature will

LNG prices in the East Mediterranean have hit record high levels to the Northwest Europe LNG marker, supported by shipping constraints in the Red Sea and heatwaves in the Mediterranean region. Platts, a part of S&P Global Commodity Insights, assessed the East Mediterranean marker for

Hedge funds have continued to increase their net-long positions in the European natural gas and LNG markets week on week to reach multiyear highs, according to Intercontinental Exchange data, with traders seeing funds’ positions as of the main drivers for the bullishness as well as

Midstream operators continue to rapidly build out natural gas processing capacity in the Permian Basin in anticipation of strong production growth. Brazos Midstream announced Aug. 15 the 200 MMcf/d Sundance 1 cryogenic processing facility in Martin County, its first in the Midland Basin, is mechanically

Italian PSV month-ahead natural gas price surged to its highest premium over its Dutch and Austrian counterparts in over 16 months as maintenances and low LNG sendouts in the region keep Italian prices elevated. Platts, part of S&P Global Commodity Insights, assessed the Italian PSV

The Netherlands was the top destination for US LNG delivered in August, even as fewer than half of US shipments went to Europe for a third consecutive month, an S&P Global Commodity Insights analysis showed Sept. 4. Stronger demand in the Asia-Pacific region combined with

Asian upstream players will prioritize purchasing stakes in oil and gas producing assets amid pressure for shorter-term returns alongside uncertainties over the global energy transition, industry executives said during a panel discussion at S&P Global Commodity Insights’ APPEC 2024 conference in Singapore. “Because of the

Market participants remain hesitant to pay a premium for lithium salts of recycled origin, Claas Hoffend, AMG Lithium project manager for lithium salts, said during a panel discussion at the International Congress for Battery Recycling (ICBR) in Basel, Switzerland, on Sept. 12. “The key question

Some Indian end users of natural gas have been offered an additional 20% domestically produced gas over Sept. 16-30, which has tempered the demand for regasified LNG temporarily, sources told S&P Global Commodity Insights. At least one gas aggregator was told by an end-consumer that

The launch of AMG’s Lithium’s lithium hydroxide refinery in Germany represents a huge step forward for the company and for Europe’s lithium supply chains, CEO Stefan Scherer told S&P Global Commodity Insights in a recent interview. Speaking shortly after the opening ceremony of the company’s

Indonesia’s state procurement agency Bulog has awarded its eighth rice purchase tender of 2024 to Pakistan, Vietnam, Myanmar and Thailand, with Pakistan winning over half of the total lots, sources told S&P Global Commodity Insights Sept. 25. Despite winning the tender, prices for Pakistan 5%

Oil storage and energy infrastructure at the Red Sea ports of Hodeidah and Ras Isa in Yemen were attacked and set ablaze Sept. 29 by the Israeli military. “Through the infrastructure and ports that were attacked, the Houthi regime transports Iranian weapons to the region,

After launching the Lithium Valley project on Nasdaq a year ago, Brazil has increasingly solidified its position as a key player in the global lithium market. The country has attracted both domestic and foreign investments, with a promising portfolio of new projects focused on exploring

Kinder Morgan expects incremental demand for natural gas from data centers will be 3-6 Bcf/d by 2030, and sees dedicated gas-fired power stations as a preferable supply option to grid power. Forecast for incremental data center demand out to 2030 have come in a wide

The Supramax segment in the Continent and Baltic Sea regions endured a trading week that remained firm, mainly caused by limited new activity that led to low levels for the week of Aug. 12-16. “The markets remained generally subdued, with limited new activity and a

Indonesia’s newly appointed energy and mineral resources minister Bahlil Lahadalia told regional leaders that collaboration was key for countries to achieve their emission targets, especially for developing countries like Indonesia that have vast natural resources but lack the technology and funding to harness them. “There

North American shipping carriers are wrestling to implement rate increases amid an opaque market driven by fear an International Longshoremen’s Association strike could disrupt supply chains, market sources said. During mid-August, mixed signals relating to the market’s acceptance of the General Rate Increase (GRI) have

With the world’s largest reserves of both copper and lithium, Chile sees itself playing a critical role in the global energy transition, attracting massive investment in mineral extraction and processing over the coming decades. Mining companies are expected to invest billions of dollars in Chile

The Houthi rebels in Yemen appear to be prioritizing attacks on oil tankers in the Red Sea because their attack on the Greek tanker MV Delta Sounion brought them political and media attention, a Yemen-based expert said during a Sept. 4 event. “It’s obviously a

Pan American Energy and Tecpetrol, two of the biggest gas producers in Argentina, plan to increase Vaca Muerta gas production to export more supplies to Brazil and Chile in the near term as two pipeline projects widen the sales potential from the shale play, executives

Oil and natural gas producers, refiners and power companies were ramping back up and assessing limited damages Sept. 12 after Hurricane Francine brought torrential rain and power outages across southeast Louisiana. US Gulf of Mexico production shut-ins reached an expected peak Sept. 12, contributing to

The East-West LNG arbitrage economics is strengthening as wider price spreads and declining freight rates offer traders more opportunities to move cargoes to the Far East, according to data from S&P Global Commodity Insights and market feedback. The potential netback from transporting a US-sourced cargo

Tata Steel’s new Kalinganagar coke plant, in the eastern Indian state of Odisha, is not expected to stoke immediate spot demand for metallurgical coal given the lackluster steel market, according to industry participants. The new coke facility is set to start operations in the fourth

The European aluminum industry is facing challenges due to high power prices and increased competition from discounted imports. As the Carbon Border Adjustment Mechanism (CBAM) approaches its definitive phase, aluminum producers in Europe are focusing on decarbonizing their production processes. This shift aims to meet

Thailand recently extending its biofuels mandate is expected to bolster current feedstock demand and fuel infrastructure while facilitating a long-term transition to sustainable aviation fuel, even as the country’s biofuels sector faces challenges from the increasing adoption of electric vehicles, according to market sources and

Some farmers in Romania have started harvesting the sunflower crop three weeks earlier than planned as crops dry out in the fields due to drought. A lack of rain and scorching temperatures have forced farmers to begin harvesting earlier compared with previous years, a farmer

September power forwards across the West are at their lowest levels of the year because of weak natural gas forward prices as thermal generation overtook solar to lead the fuel mix. Despite the market weakness, September forwards remain at a premium to the September 2023

China’s national compliance carbon market may not evolve into the country’s primary tool to decarbonize its coal-fired power sector, due to the government’s reluctance to give free rein to market forces and resistance from influential bodies in the thermal power sector. This is likely to

Natural gas prices at the West Texas Waha hub opened in negative territory again Aug. 21, marking nearly a month of consecutively negative pricing there as producers eagerly await new, incremental production takeaway capacity expected in September upon startup of the 2.5 Bcf/d Matterhorn Express

Members of the All India Ports and Dock Workers Federation signed a memorandum of understanding with the Indian Ports Association and the Ministry of Shipping to avert an indefinite strike across 12 major ports in the country from Aug. 28, according to a circular seen

Day-ahead spot prices traded on the Japan Electric Power Exchange soared to the highest so far this summer Aug. 29 as gas and coal-fired power plants in the western part of the country plan to shut or cut output with the approach of Typhoon Shanshan.

The 2024 US presidential election marks a pivotal moment for the ambitious suite of climate and energy regulations advanced by the Biden administration. Executive branch agencies are defending broad controls on greenhouse gas emissions from the US electricity, transportation, and oil and gas sectors following

European LNG spot prices have struggled to compete with oil-linked contracts as the overarching bearish sentiment in crude oil was battling the looming winter risks in the European natural gas and LNG markets, according to data from S&P Global Commodity Insights. Platts, part of S&P

The US Energy Information Administration delivered yet another bullish US natural gas storage report Sept. 12, reporting a 40 Bcf injection to domestic inventory during the first week of September. The latest weekly injection reported by EIA was 10 Bcf, or 20%, smaller than the

US energy markets will need more Permian Basin gas to meet the electricity needs of data centers that power artificial intelligence, Chevron CEO Mike Wirth said Sept. 17 at a conference in Houston. “Natural gas will help power the rapid growth of artificial intelligence with

Australian iron ore miner BHP has widened October discounts for term contracts across Jimblebar Fines (JMBF), Mining Area C Fines (MACF) and Newman High Grade Fines (NHGF), while narrowing the discount for Newman Unscreened Lump (NBLU), BHP’s contract customers said Sept. 24. The discounts for

India’s metallurgical coal demand is set to reach a record 100 million metric tons in 2024, posting a significant milestone for the industry. India surpassed China and Japan as the largest seaborne met coal importer some years back, and currently is expected to break last

The International Longshoremen’s Association strike, declared Oct. 1 at US East and Gulf coast ports is not likely to support spot thermal coal prices due to a preexisting supply glut, according to a S&P Global Commodity Insights market survey. “I believe even if the strike

Diesel flows from the US Gulf Coast to Northwest Europe and the Mediterranean have been increasing as the summer draws to a close, with July volumes hitting a record monthly high and August on track to beat it, according to S&P Global Commodities at Sea

South Korean refiners are generally content with a slight improvement in refining margin so far in the third quarter but China’s ample clean oil product export quotas and tepid regional economic activity pose a serious threat to the overall cracks and export margins, industry sources

The EU reached its 90% gas storage target on August 19, some 11 weeks ahead of the EU-mandated November 1 deadline. The target was reached thanks to a mild 2023/24 winter, subdued gas demand, and continued strong Norwegian deliveries. Ukrainian storage, however, is underutilized this

The Japan Coast Guard is considering whether to impose evacuation and no-entry advisories for large ships, including LNG carriers, in Osaka Bay, Seto Naikai and Ise Bay from Aug. 26, ahead of the approach of Typhoon Shanshan, JCG officials told S&P Global Commodity Insights Aug.

Pakistan parboiled milled rice 5% STX prices reached a one-year low on Aug. 27, with Platts assessing it falling $49 per metric ton on the year to $544/t, S&P Global Commodity Insights data showed, potentially making it competitive against Thai rice. Despite the price decrease,

Tech giant Meta is eyeing the biofuels market in a bid to diversify the power source for its energy and emissions-intensive data centers. Meta, the parent company of Facebook and WhatsApp, has started pilots of r enewable diesel , also known as hydrotreated vegetable oil

Texas regulators’ decision to pursue possible Texas Energy Fund financing for about 9.8 GW of new dispatchable generation projects, almost all using natural gas, may reduce scarcity pricing if they are approved, industry observers said Sept. 3, but it could increase natural gas demand and

US Gulf Coast drillers were shutting in oil and gas production, and ports were starting to close Sept. 10 in preparation for Tropical Storm Francine’s landfall. Upstream producers had shut in 412,070 b/d of oil production, or around 23.55% of the US Gulf’s total crude

The US has announced it will go ahead with Section 301 tariffs on a number of commodity imports from China, including steel, aluminum, lithium-ion batteries, graphite and other critical minerals, the Office of the United States Trade Representative said in a Sept. 13 statement. It

Subdued copper prices are expected to weigh on molybdenum supply in the coming years, Kevin Pritchett, Climax Molybdenum’s director of marketing, said in a panel discussion at the SMR Stainless Steel conference in Rome on Sept. 18. “Supply is still a challenge, especially from Western

The significant increase in Canada’s TMX heavy crude exports from Vancouver to Asia, which have nearly tripled since May, is expected to bolster Aframax freight rates with more tonnage being placed in the region, while potentially reducing Middle East crude movement into Pacific markets, several

The annual LME Week kicks off in London on Sept. 30, bringing together leading stakeholders from the metals and mining industry, including company executives, government officials, traders, and financiers. Over the course of the week, delegates will discuss the complex myriad of challenges and opportunities

Brent crude prices jumped 5% on Oct. 1 and global energy markets were on tenterhooks after Iran launched a new missile attack on Israel, sparking concerns of a major regional escalation and a direct conflict between Israel and Iran. Waves of missiles were seen over

Most US shale drillers’ second-quarter results included reports that they curtailed production efforts at least slightly to save money in the face of $2/MMBtu natural gas prices. While financial analysts applauded the move, investors kept their distance. The majority of these shale gas exploration and

Singapore’s GenZero and Keppel Ltd. and the Philippines’ ACEN have signed a memorandum of understanding for the generation and utilization of carbon credits, called transition credits, to support the early closure of a coal-based power plant, the companies said in a joint statement Aug. 16.

The EU reached its 90% gas storage target on Aug. 19, 11 weeks ahead of the EU-mandated Nov. 1 deadline, data from Gas Infrastructure Europe showed Aug. 21. The target was reached thanks to a mild 2023-24 winter, which left EU stocks still 58.5% full

A Greek crude tanker adrift in the southern Red Sea was targeted by a sea drone as crew members were evacuated, according to the EU naval force and UK Maritime Trade Operations, as the most destructive attack on Red Sea shipping continued for a second

Current natural gas prices in Brazil make the production of nitrogen-based fertilizers in the country “completely unviable,” Carlos Fávaro, minister of agriculture and livestock, said Aug. 27. During the 11th Brazilian Fertilizer Congress, the minister said recent changes in the regulatory framework will boost domestic

The US oil and natural gas rig count fell by four to 633 rigs for the week ended Aug. 21, S&P Global Commodity Insights data showed, as analysts said they are seeing recent evidence of resilience in oil supply and gas prices by year-end. In

(Latest update September 5, 2024) The Platts global bunker fuel cost calculator shows how Platts price assessments for methanol, ammonia, LNG, bioblends and conventional oil-based fuels can be used to calculate the cost of marine fuels around the world, taking into account the EU Emissions