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Metals markets remain fundamentally in the “supercycle” identified in recent years despite the current global economic slowdown and fallback in prices, with demand for a wide range of metals to continue being driven by what is an “irreversible” global energy transition, according to Benedikt Sobotka, CEO of diversified miner Eurasian Resources Group. “The fundamental supercycle […]

Mexico’s nationalization of its untapped lithium resources has created uncertainty in the global hunt for new sources of the battery metal and could end up costing the country. The country hosts the 10th-largest lithium resource globally at 1.7 million mt, according to the US Geological Survey. In April, Mexico passed a law to nationalize its

The European Commission has approved up to Eur5.2 billion ($5.15 billion) of state aid proposed by 13 EU member states for the IPCEI Hy2Use cluster of hydrogen value chain projects, the EC said Sept. 21. The projects, focused on industrial applications, involves large electrolyzers, transport infrastructure and technologies designed to integrate hydrogen into hard-to-abate sectors

The UAE’s Abu Dhabi National Oil Co. will supply German companies with LNG and diesel cargoes in 2022 and 2023 as Europe’s biggest oil consumer seeks to diversify energy sources amid reduced supply of Russian gas and upcoming European Union sanctions on crude and oil product imports from Moscow. As part of a new Energy

Near-term scrap futures contracts on the London Metal Exchange saw gains over the week to Sept. 22, while weekly trading volumes decreased. Platts, part of S&P Global Commodity Insights, assessed the September contract up $2.50/mt week on week at $360.50/mt, while the October contract jumped $14/mt to $361/mt. The November contract gained $8/mt to $360/mt,

China’s manufacturing steel demand rebounded in August and is expected to improve further in September and October on higher seasonal manufacturing activity, but market sources told S&P Global Commodity Insights that overall volume requirements are likely to remain modest amid a weak property sector and low household consumption. Evidence of this was also seen in

The International Energy Agency sees momentum building in the electrolyzer sector, with manufacturing capacity ramping up globally, but has called for greater policy support to get hydrogen projects going in its Global Hydrogen Review 2022, published Sept. 22. The IEA said global electrolyzer manufacturing capacity was expected to grow sixfold by 2025 to 50 GW/year,

The end of 2022 and the beginning of 2023 look blighted with uncertainty due to high energy costs, inflation and a new green deal, participants at the European steel distributors’ association Eurometal Regional Meeting event held in Milan told S&P Global Commodity Insights. Service centers and large distributors were suffering due to margins being squeezed

The US Commodity Futures Trading Commission should conduct a series of “deep dive” studies to determine whether prices in commodity markets that have recently seen stress—such as natural gas, crude oil, metals, and wheat markets—are driven by market fundamentals, a member of the commission has recommended. “From 2020 lows, food prices have soared 84%, fertilizer

Reforming the US’ electric transmission planning processes could have a larger impact on emissions than the recently enacted Inflation Reduction Act, a free market think tank policy director said Sept. 20. “We think transmission reform would actually have more total-emissions impact than either Build Back Better or IRA would have in aggregate,” said Devin Hartman,