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The EU’s steel consumption is likely to see its third recession in the space of only four years in 2022 as a result of quarterly drops that are foreseen over the second, third and fourth quarters, according to an outlook from the European Steel Association, or Eurofer. Eurofer foresees a 1.7% decline in the EU’s […]

The California Air Resources Board Aug. 25 adopted new regulations allowing the state to phase out gasoline-powered vehicles by 2035, a move Platts Analytics said could displace 535,000 b/d of gasoline in a state that accounts for nearly 20% of US finished gasoline demand. The Advanced Clean Cars II regulations now move to the California

The economic agenda and long-term opportunities dominated discussions as top executives gathered in Sao Paulo for the Aço Brasil Congress 2022 Aug. 23-24. Representatives of the national steel industry saw good prospects for the sector even though they said the current and medium-term market scenarios were volatile, unstable and uncertain. There is an urgent need

China has called for accelerating the development of a nationwide, standardized emission accounting and verification system, prioritizing the nation’s most emission-intensive power and industrial sectors, according to an action plan published by the central government. The action plan was jointly released by China’s top economic planner National Development and Reform Commission, the Ministry of Ecology

Canadian steelmaker Stelco renewed five-year collective bargaining agreements with its employees represented by three United Steelworkers local chapters, thus averting a strike and potential curtailments, the company said Aug. 22. “These agreements will provide stability for our employees and their families and provide our customers and shareholders with confidence in Stelco’s ability to continue to

Recent moves by several governments to halt export of carbon credits have hindered new investment in carbon project development and prompted changes in business strategy, Kelvin Fu, co-founder and managing partner with Gunung Capital said in an interview with S&P Global Commodity Insights. Singapore-based Gunung Capital, an asset management company with businesses in steel, cement

A legal victory backing, albeit on a technicality, the Biden administration’s moratorium on federal oil and natural gas leasing is unlikely to rattle domestic production or prompt new action by the administration which had already turned to other means to address its concerns with onshore and offshore lease sales. The 5th US Circuit Court of

A new permanent injunction preventing the Biden administration from pausing oil and natural gas lease sales in 13 states was applauded by the oil and gas industry Aug. 19 but is not expected to have a significant impact on domestic production. Judge Terry Doughty of the US District Court for the Western District of Louisiana

Representative from United Steelworkers Local 8782 and Canadian steelmaker Stelco have reached a tentative labor agreement and are set to vote Aug. 19. The representatives arrived at the tentative agreement following five months of negotiations, USW Local 8782 President Randy Graham said in an email seen by S&P Global Commodity insights Aug. 18. Union members

Low water levels along the Rhine have increased freight rates and forced barges to part-load. With shipments to inland demand centers restricted, stocks have been building in Amsterdam-Rotterdam-Antwerp. This is having a bearish impact on commodities going down the Rhine, but is bullish for final products. If restrictions continue, it could slow down production. Click