Steelmaker ArcelorMittal has partnered with ABB to use its low carbon XCarb steel in the latter’s Kabeldon power distribution system to help reduce the carbon footprint of key electrification equipment by 29%, the companies said in an Oct. 21 statement. Xcarb steel is made with
Europe avoided “severe” gas price volatility in the third quarter of 2024 despite the re-emergence of supply uncertainties, European regulatory body ACER said Oct. 22. In its latest quarterly market monitoring report, ACER said wholesale gas prices rose in Q3, but remained less volatile than
Germany’s state-owned SEFE is to purchase up to 9 Bcm of gas over the next 10 years from the US’ ConocoPhillips under a new long-term gas partnership between the two companies, SEFE said Oct. 23. In a statement, SEFE said the first gas deliveries under
This report is part of the S&P Global Commodity Insights’ Metals Trade Review series, where we dig through datasets and digest some of the key trends in iron ore , metallurgical coal , copper , alumina, cobalt , lithium , nickel and steel and scrap
As Russia copes with international trade in a sanction-enforced world, liquidity for thermal coal — especially the premium grade 6,000 kcal/kg NAR — has started to become inconsistent as logistical hurdles, dried-up financing and uncertainty of trade conclusion remain key roadblocks. Market participants said the
Prices and offer levels in the Brazilian rice market have declined in the days leading up to Oct. 29 after the government announced its Rice Sale Option Contract, or COV, as part of the National Food Supply Plan, with market participants skeptical of the program’s
The Nov. 5 US presidential elections are seen as decisive for the country’s agriculture, with the new president set to take office amid low commodity prices and falling farm incomes. The Platts assessments from S&P Global Commodity Insights for US corn and soybean show October
China’s steel products could face additional tariff hikes on exports if Donald Trump wins the US presidential election but its domestic markets are prepared to handle any potential fallout after the election outcome, market participants told S&P Global Commodity Insights. Under the current US administration,
Former US President Donald Trump has won the 2024 race for the White House, setting into motion a host of potential impacts for the power generation, natural gas, oil, critical minerals and petrochemicals sectors. Trump campaigned on promises of deregulatory steps that aim to stamp
A year after closing the first of two transformative acquisitions that established a Permian Basin presence and then expanded that position, DJ Basin producer Civitas Resources now has a high-quality, diverse portfolio of drilling opportunities in what it called the lowest two breakeven basins in
Freight rates in the West African Suezmax segment have softened to near the troughs seen in Q3 2024, with sources pointing to weaker cargo inquiry levels, a significant overhang of tonnage and a general lack of activity caused by many market participants attending the Bahri
Republicans gained full control of the US Congress, adding tailwinds for the incoming Trump administration’s deregulatory agenda. The election results also increase risks to clean energy spending through the Inflation Reduction Act and bipartisan infrastructure legislation. The Associated Press projected late Nov. 13 that Republicans
New Zealand-based climate-tech innovator CarbonClick has teamed up with SCB Group, a leader in low-carbon commodities, to launch a comprehensive carbon credit solution aimed at transforming the aviation industry’s path to net-zero emissions, Carbon Click said in a statement Oct. 8. The new platform is
Italy’s Eni aims to boost its contracted LNG portfolio to around 18 million metric tons/year by 2027 and expand its market penetration in Asia, with plans to also double its LNG shipping fleet, Cristian Signoretto, deputy chief operating officer of natural resources, told S&P Global
Sales of bonded bunker fuel oil at the key North Asian bunkering hub Zhoushan fell 7.9% month on month to 601,900 metric tons in September, according to data compiled Oct. 15 by S&P Global Commodity Insights, hampered by back-to-back typhoons and the Mid-Autumn holidays. The
Libya’s crude exports recovered to normal levels in the week to Oct. 16, according to tanker tracking data, as flows from a key western port finally restarted following the resolution of a feud between Libya’s rival regional authorities. Export loadings of Libya’s light, sweet crudes
Singapore’s second LNG terminal will be an offshore 5 million mt/year floating storage and regasification unit or FSRU located at Jurong Port, Minister for Trade and Industry Gan Kim Yong said at the Singapore International Energy Week 2024 on Oct. 21. An FSRU-based LNG terminal
Brazilian soybean meal prices have recently fallen below those of Argentina for the first time in a month, driven by softer domestic demand and seasonally high crushing rates. This shift is unusual, as Brazil typically commands higher prices due to its geographical and logistical advantages.
South Korea will raise electricity rates for industrial use while freezing those for households amid mounting power demand by the country’s energy-intensive manufacturers and increasingly extreme weather conditions, the energy ministry said Oct. 23. Under the measure, the electricity rate for industrial use will rise
The availability of cheap high-sulfur petcoke from the US is becoming a cause for concern for US thermal coal suppliers as buyers in India, the top destination for US coal, shun coal in favor of petcoke. In recent months, prices of India-delivered petcoke have been
The board of Brazilian state-led oil company Petrobras has approved the completion of the UFN-III fertilizer plant in Mato Grosso do Sul state as part of the company’s ongoing return to the fertilizer sector and expansion of natural gas projects under its $102 billion investment
Cambodia’s Royal Group is seeking LNG suppliers for its proposed 900 MW LNG-fired power plant in the country’s southwestern Koh Kong province, which will be the country’s first gas-based power project, Thomas Pianka, Division CEO for Energy, told S&P Global Commodity Insights in an interview.
China’s manufacturing activity returned to expansion in October after contracting for five straight months, the National Bureau of Statistics said Nov. 1, a trend supported by the country’s stimulus blitz in late September. Steel market sources said China’s manufacturing steel demand is expected to remain
Asian crude importers remain unconcerned about OPEC+ members extending their production-cut strategy. Refiners in Japan, South Korea and Thailand can consistently secure ample US and various Latin American barrels, prioritizing logistical efficiency for crude deliveries from the Americas. Despite the prolonged OPEC+ output cuts, term
Donald Trump’s win of the US presidential election hammered the price of copper on the prospect of steep tariffs, a possible pullback on energy transition policies and a surging US dollar, analysts said Nov. 6. The COMEX spot copper price slumped by more than 4%
Record low urea exports by China pose a “favorable” short-term outlook for nitrogen fertilizers, UAE-based fertilizer exporter Fertiglobe said on Nov. 11. “The longer-term outlook continues to be supported by improving demand from new and existing applications, coupled with limited supply additions,” the company said
More than 50 stakeholders across the shipping value chain have signed a Call to Action at the UN Climate Change Conference to accelerate the adoption of zero-emission fuels, including the development of green hydrogen infrastructure, to achieve decarbonization. Organized by RMI, the UN Climate Change
Germany’s economy ministry has instructed state-owned LNG terminal operator Deutsche Energy Terminal (DET) to reject any cargoes of Russian LNG that may attempt delivery, the Financial Times reported Nov. 14. The FT cited a letter dated Nov. 6 sent by the ministry to DET that
Indian parboiled milled rice 5% STX price reached a 10-month low Oct. 8, with Platts assessing it at $489 per metric ton FOB, down 3% on the year, due to the reduction in export duty on parboiled rice and new crop arrival pressure, S&P Global
Global tanker freight rates are expected to be subdued for the rest of 2024 because of slower growth in China’s oil consumption and overall oil trade even as OPEC+ has delayed its supply cuts, several shipping brokers, analysts and charterers said Oct. 10. Most participants
The latest US sanctions on Iran, in response to its missile attacks on Israel, are expected to tighten crude flows to China and reduce the competitiveness of these barrels due to a shortage of ships and higher shipping costs in the near term, Chinese refinery
Gevo, Inc. and Calumet’s Montana Renewables segment both received US Department of Energy loans to fund the construction and expansion of large sustainable aviation fuel production projects. “This conditional commitment supports the Biden-Harris Administration’s goal of increasing US production of SAF to 3 billion gallons
Platts JKM — the benchmark price reflecting LNG delivered to Northeast Asia — is expected to be rangebound in the week to Oct. 25, with market fundamentals unchanged and winter procurement largely completed for 2024. Nonetheless, temperature fluctuations in the coming month will play a
Brazilian sources and local media reported that approximately 60,000 port workers across Brazil went on to strike Oct. 22 for 12 hours, from 7 am to 7 pm local time. This industrial action follows the announcement of a controversial bill affecting labor rights for temporary
This report is part of the S&P Global Commodity Insights’ Metals Trade Review series, where we dig through datasets and digest some of the key trends in iron ore , metallurgical coal , copper , alumina, cobalt, lithium , nickel and steel and scrap .
Indonesia’s state-owned purchasing agency Bulog reissued a revised ninth tender for 2024 on Oct. 24, seeking to buy 500,000 mt of 5% broken white rice milled within the last six months, according to an official invitation sent to select suppliers and seen by S&P Global
Southeast Asia’s largest integrated aluminum producer, Press Metal, has launched its new low-carbon aluminum product series branded as GEM, detailed in a presentation at the company’s headquarters in Selangor, Malaysia, attended by S&P Global Commodity Insights. Press Metal first previewed GEM at an aluminum exhibition
The Serbian government is facing immense political pressure surrounding its decision to allow Rio Tinto to develop its controversial Jadar lithium project in western Serbia, several observers with detailed knowledge of the issue have told S&P Global Commodity Insights. Jadar has been touted as one
Germany posted a second consecutive year-on-year decline in gas consumption for the week ended Oct. 27, with usage remaining well below pre-crisis levels, data from the country’s energy regulator showed Nov. 1. According to Bundesnetzagentur data, total consumption averaged 2.09 TWh/d, down 8% from the
Thailand’s recent initiatives to become a digital and manufacturing hub, alongside its Feed-in Tariff program, have spurred new demand for renewable energy certificates from tech firms and electric vehicle manufacturers, according to economics consultants from The Lantau Group Nov. 4, as companies work to meet
Former US President Donald Trump’s election to a second term Nov. 6 has brought the issue of tariff-rate quotas into focus for Europe and the UK’s steel and aluminum industries, with both sectors now likely to be keeping a close eye on potential trade flow
The Thailand International Renewable Energy Certificate (I-REC) market continues to grapple with significant oversupply, despite recording its highest issuance figure in October 2024. The market saw an issuance of 1.48 TWh from January to October 2024, marking a 2.3% increase from the previous month. However,
Global carbon dioxide emissions from fossil fuels are expected to reach records highs this year, with “no clear signs” of a peak despite a growth in clean energy, climate scientists said during the UN Climate Change Conference on Nov. 13. Emissions from energy combustion and
Volumes traded for the scrap futures contracts on the London Metal Exchange, which settle basis the Platts assessment from S&P Global Commodity Insights, increased on the week. Weekly LME scrap futures trading volumes in the week to Nov. 14 increased to 199,320 mt, up from
Rio Tinto Group will secure the world’s third-largest lithium reserves and resources globally by acquiring Arcadium Lithium, according to S&P Global Market Intelligence data. Both companies’ boards have unanimously approved the all-cash transaction for $5.85 per share, announced Oct. 9, which values Arcadium’s diluted share
Turkey is approaching a ‘”critical” stage in 2025/26 with regard to its gas supply arrangements, with a number of its key gas import contracts set to expire, Turkish energy minister Alparslan Bayraktar said Oct. 10. Speaking at the St Petersburg Interational Gas Forum, Bayraktar said
China’s alumina spot prices hit a fresh all-time high Oct. 15 led by bauxite supply disruption out of major exporter Guinea and strong downstream demand, with industry sources expecting the momentum in alumina prices to continue in the coming months. Platts, S&P Global Commodity Insights,
Former President Donald Trump has promised to “blast through every bureaucratic hurdle” for pipeline permitting if reelected. But in the 2024 election cycle , control of Congress will be just as critical to the future of midstream gas project permitting as who occupies the Oval
Nickel and cobalt production at Canadian producer Sherritt International’s Moa Nickel mine in Cuba has been hit by power outages, the company said in a statement Oct. 21. Operational capacity at the mine was reduced to 50-60% following countrywide power outages that began on Oct.
China’s steel manufacturing demand improved further in September , a trend likely to continue in the near term, but market participants expect only modest growth as sluggish domestic consumption and global trade uncertainty weigh on the outlook. Market sources said keeping production under control remains
The resumption of attacks on merchant ships in Ukrainian ports threatens 1% of global dry bulk cargoes and risks a rise in food prices, shipping body BIMCO said Oct. 23. Since September 2024, five merchant ships have been hit by Russian missiles while in Ukrainian
Brazilian energy company Raizen sees potential for its waste-based ethanol, currently overwhelmingly earmarked for European road users , to grow its share in other transport applications as it ramps up capacity of the second-generation fuel over the next few years, a company official said in
India’s JSW Group and South Korea’s POSCO Group plan to set up a 5 million mt/year integrated steel plant in India along with tie-ups in electric vehicles and renewable energy, both groups said Oct. 29. Both groups signed a memorandum of understanding on Oct. 21
Dutch TTF natural gas futures saw combined long and short positions exceed 3 billion lots by Oct. 25, driven by increased activity from investment funds amid shifting market dynamics and geopolitical tensions. Total long and short positions held for Dutch TTF natural gas futures rose
Slovakian gas importer SPP has dismissed a report that Slovakia — together with Hungary — was close to signing a contract with Azerbaijan for continued delivery of gas via Ukraine with its participation. A report late Oct. 31 said Hungary and Slovakia were close to
Thailand secured seven contracts out of 18 lots to export 200,500 mt of 5% broken white rice to Indonesia’s state procurement agency Bulog in its ninth rice purchase tender of 2024, while Pakistan secured four lots to export 106,500 mt of rice, trade sources said.
Former US President Donald Trump has won the 2024 race for the White House, setting into motion a host of potential impacts for the power generation, natural gas, oil, critical minerals and petrochemicals sectors. Trump campaigned on promises of deregulatory steps that aim to stamp
The Abu Dhabi National Oil Co. is considering a major change in the way it sells sulfur to rely more heavily on its trading arm, ADNOC Trading, according to multiple market participants. While the exact details remain uncertain, one trader said he had been instructed
The supply of Russian LNG into Europe continues at a steady rate, with a number of EU countries still taking cargoes in the absence of EU-wide sanctions against imports. But EU sanctions banning the transshipment of Russian LNG at EU ports for delivery to non-EU
Star Bulk — one of the largest dry bulk shipping companies — will start buying biofuels to power its fleet to comply with a new EU regulation from next year, its bunker director, Constantinos Capetanakis, told S&P Global Commodity Insights in an interview. Brussels is
Global biofuel demand is poised to shift toward the aviation and maritime sectors by 2030, with increased competition for feedstock waste oils expected to drive up prices, according to the International Energy Agency Oct. 9. The biofuel market is projected to grow annually by 20%,
Uniper has cancelled its SkyFuelH2 project to make green hydrogen-based sustainable aviation fuel in Sweden because of what it called a “challenging market situation and rising costs.” Uniper said the continued regulatory and policy uncertainty also made the project unviable. “Continued uncertain effects of the
The EU will push for significant progress on defining the climate finance framework known as the New Collective Quantified Goal (NCQG) at the upcoming 29th UN Climate Change Conference in Baku, it said Oct. 15. Brussels revealed its negotiating mandate for COP29 calling for an
This report is part of the S&P Global Commodity Insights’ Metals Trade Review series, where we dig through datasets and digest some of the key trends in iron ore , metallurgical coal , copper, alumina, cobalt, lithium, nickel and steel and scrap. We also explore
The landscape of Ukraine’s grain exports has been dynamic over the last three months, with prices initially rising at the start of the 2024-25 marketing year (July-June), followed by a downward trend as demand dynamics shift. However, the country succeeded in ensuring the flow of
Many Australian coal producers based in Hunter Valley, one of the primary hubs of coal production, have scaled back washing 5,500 kcal/kg NAR — a process that helps achieve higher grades — amid rising demand from China for the said grade, several participants of the
Australian iron ore miner BHP has narrowed discounts for term contracts across their flagship fines brands — Jimblebar Fines (JMBF), Mining Area C Fines (MACF) and Newman Fines — for November, its contract customers said Oct. 23. The monthly term contract discount for MACF narrowed
Many fertilizer market participants are largely unbothered by the recent announcement of new fertilizer export quotas from Russia to countries outside the Eurasian Economic Union. “We don’t expect any negative impact on fertilizers export,” a Russian market source said. A second market participant, a trader,
China has asked administrative units at all levels and various public institutions of both the central and state sector to take the lead in the use of electric vehicles, at a time when the country’s total EV sales are expected to remain robust while domestic
Congressional seats, state races and ballot measures across the country will play a decisive role in determining how the US tackles climate change and manages its energy future. During the 2024 elections, key issues at stake include the role of fossil fuels in the country’s
Latin America’s steel industry will not attain net-zero emissions status by 2050 without state aid, which is currently not on offer, according to industry representatives at the Latin American Steel Association, or Alacero, annual congress in Buenos Aires this week. “The steel sector in general
Planned closures of coal-fired power plants in the US are slowing as forecasts show rising power demand from datacenters and manufacturing. Utilities will retire just 3.0 GW of US coal-fired capacity in 2024, the lowest level since 2015, when utilities closed a wave of plants
Qatar’s Minister of State for Energy Affairs Saad al-Kaabi held talks in Tokyo this week with Japanese buyers of Qatari LNG and other project partners focused on strengthening energy ties between the two countries, QatarEnergy said Nov. 6. During a visit accompanied by senior QatarEnergy
Chile and the European Union have reached agreement on a roadmap of measures to increase collaboration on critical minerals. Chile is the world’s largest producer of copper and second-largest producer of lithium, two minerals playing a key role in the global transition to cleaner sources
A series of initiatives to reduce methane emissions were unveiled on Nov. 12 at the UN Climate Change Conference, with several countries, industry bodies and financial institutions involved. The US, China and Azerbaijan convened a summit on the sidelines of COP29 focusing on cutting emissions
The deadline for implementing the EU’s biofuels traceability platform, the Union Database for Biofuels, is rapidly approaching on Nov. 21, yet many biofuel supply chains are not adequately prepared, according to the head of BioLedger, a service provider aiding companies in compliance with audit schemes.
Europe has made “good” progress toward being prepared for the peak winter demand season even as a gas transit agreement between Ukraine and Russia is expected to expire in December, a top European Commission official told S&P Global Commodity Insights Oct. 6. “We do everything
The use of silicon metal in electric-vehicle batteries could bring down the overall cost of such vehicles, making them more affordable, the CEO of a major silicon producer said. At the same time, silicon could help battery manufacturers overcome problems that global shortages of both
Mexican non-ferrous scrap merchants expect “more aggressive scrap purchasing” in coming months, as demand from the country’s growing auto sector should pick up further after a good year so far, the International Recycling Bureau (BIR) said in its Latin America quarterly bulletin Oct. 10. An
Lithium Argentina is focusing on operational efficiency, cost management and international partnerships to ride out weak prices while it develops new projects to meet long-term demand growth, Executive Vice President Ignacio Celorrio told S&P Global Commodity Insights in a recent interview. A lithium “price recovery
The restrictions on Indian rice exports are set to ease further, as the current minimum export price of $490/mt FOB on white rice exports is expected to be removed soon, sources told S&P Global Commodity Insights Oct. 17. The move is likely to enhance the
Indonesia’s state-owned purchasing agency Bulog announced its ninth tender of the year Oct. 21, seeking to buy 340,000 mt of 5% broken white rice milled no more than six months previously, according to an official invitation sent to select suppliers and seen by S&P Global
India has removed a 10% duty on parboiled rice outflows with immediate effect, the Ministry of Finance said Oct. 22, enhancing the country’s rice export potential. In September, India slashed the export duty on parboiled rice from 20% to 10%, lifted the ban on non-basmati
The recent marine decarbonization agreement between Pinnacle Marine and Singapore’s maritime research center is crucial to achieving net-zero goals, industry sources told S&P Global Commodity Insights Oct. 23, but significant technical and infrastructure challenges persist. The initiative marks a crucial advancement for the NTU Maritime
The European Commission has made imports of certain hot-rolled flat products of iron, non-alloy or other alloy steel from Egypt, India, Japan and Vietnam subject to registration, according to a document in the EU Official Journal Oct.25. The move is meant to protect against dumped
Presidential candidates Kamala Harris and Donald Trump are expected to implement similar economic measures to compensate farmers with internal support amid falling grain prices, while an aggressive biofuels policy in the US continues to threaten Argentina’s oilseed industry, Javier Preciado Patiño, agronomist and former undersecretary
Achieving globally recognized sustainable steel faces many challenges, according to speakers at the BIR’s World Recycling Convention in Singapore, who highlighted issues around trade policies, energy costs and the need to establish emissions certification and standards, as well as some mills’ reticence to use recycled
The Canadian fertilizer was bracing for a port worker strike in British Columbia to begin Nov. 4, with market participants and local companies saying Nov. 1 that they expected sulfur and potash markets would be heavily affected as ship loading and unloading halts. The BC
Energy markets across the globe saw strength from uncertainty around the US presidential election Nov. 5, with gas and LNG markets seeing support US voters headed to the polls. Platts last assessed the Dutch TTF month-ahead contract at Eur40.325/MWh Nov. 4, a rise of 3.84%
Russia is ready to continue to supply gas to Europe via Ukraine, but continued deliveries now depend on an agreement being reached by European buyers and Kyiv, Russia’s Deputy Prime Minister Alexander Novak said Nov. 6. The current five-year Russia-Ukraine gas transit deal expires at
Russian gas flows to Europe via Ukraine at the Sudzha interconnection point were set to continue as normal on Nov. 11, with the latest nomination data from grid operator GTSOU showing expected flows at 42.2 million cu m. Supplies have been running at around 42
BlueNord plans to focus on maximizing economic recovery from its resource base offshore Denmark and to maintain production levels through the development of existing assets, CEO Euan Shirlaw said in an interview. BlueNord — formerly known as Noreco (Norwegian Energy Company) — holds a 36.8%
Anticipation of potential increases in 2025 spot LNG prices is shaping buyers’ purchasing strategies, as the global LNG market braces for tight conditions amid concerns over supply vulnerabilities and increasing demand. Spot LNG prices in 2025 remain vulnerable to supply-side shocks and unforeseen events as
LNG as a marine fuel is experiencing a surge in interest because it offers immediate reductions in greenhouse gases and provides a cost-effective way to comply with the International Maritime Organization’s and the European Union’s shipping decarbonization rules, SEA-LNG Chief Operating Officer Steve Esau said.
Bearish sentiment dominated the European container markets in the third quarter, as front-haul spot rates plummeted following an early peak season rush as a result of continued diversions away from the Red Sea. The premature commencement of the peak season in Asia-Europe movements meant market
Sustainable aviation fuels (SAF) are set to see significant growth starting in the 2030s, eventually comprising 12% of the global aviation energy demand by 2050, according to the 2024 Energy Transition Outlook published by Norwegian classification organization DNV on Oct. 10. This surge is to
This report is part of the S&P Global Commodity Insights’ Metals Trade Review series, where we dig through datasets and digest some of the key trends in iron ore, metallurgical coal, copper, alumina, cobalt, lithium, nickel and steel and scrap. We also explore what the
This is the second of a three-part series on LNG sanctions evasion and the emerging shadow fleet and focuses on masking of cargo origins and use of fraudulent documentation in shipping. Sanctions compliance firms have reported growing interest from companies in conducting Russian business and
LNG freight rates have plummeted to multiyear lows in the week ended Oct. 18, approaching operational expense thresholds and prompting a bleak outlook among market participants. The absence of arbitrage opportunities and contango has left rates unsupported, while unusually high temperatures compared to previous years
This report is part of the S&P Global Commodity Insights’ Metals Trade Review series, where we dig through datasets and digest some of the key trends in iron ore , metallurgical coal , copper , alumina, cobalt, lithium , nickel and steel and scrap .