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As efforts to develop Article 6-compliant carbon markets step up and voluntary carbon market activities develop, host countries are becoming increasingly concerned about the impact that international carbon projects may have on their future. While concerns differ from country to country, governments are interested in securing fair compensation for local communities involved in voluntary carbon […]

Near-term scrap futures contracts on the London Metal Exchange remained in backwardation but saw slight gains over the week to July 21, while trading volumes dropped. S&P Global Commodity Insights’ Platts assessed the July contract up $6/mt to $396.50/mt. The August contract gained $2/mt on the week to $370.50/mt, September rose $8.50/mt to $373/mt and

Throughput of crude oil at the Port of Rotterdam rose 4.3% to 52.561 million mt in the first half of the year, mainly due to Russian oil flows through Rotterdam, in particular to India, the port said July 21. With refineries in Northwest Europe switching to non-Russian oil, Russian oil is finding its way to

The UK government has released its critical minerals strategy, which sets out how the country will secure critical mineral supply chains to ensure the energy transition, Secretary of State for Business, Energy and Industrial Strategy Kwasi Kwarteng said July 22. The strategy aims to accelerate growth of the UK’s domestic capabilities, collaborate with international partners

North America is virtually sold out for oilfield equipment capacity in 2022 and 2023 looks “tight,” while international markets will likely see multiple years of growth, the top executive at big services/equipment provider Halliburton, the first large energy company to report second-quarter earnings, said July 19. The quarter saw another step-up in US onshore rig

China is expected to take up new carbon legislation this year, which will better define the nation’s high-level decarbonization targets and long-term plans for the national carbon market, as well as impose stricter punishments for malpractices like data falsification, according to policy documents and researchers. China’s national compliance emission trading scheme has been operating for

China’s pig iron and crude steel output are likely to decline further in mid- and late-July, as more steel mills have been forced to cut output amid increasing losses. Steel output cuts are expected to lend support to domestic steel prices, which have fallen steeply from May due to weak demand and supply glut. However,

The Aluminum Association and individual member producers have asked the Commerce Department to launch an investigation to determine if Chinese exporters are circumventing the existing US antidumping and countervailing duties on common alloy aluminum sheet. The Aluminum Association’s Common Alloy Aluminum Sheet Trade Enforcement Group and its members allege that China is circumventing the existing

The Critical Minerals Association called on the UK government to take urgent action to facilitate development of secure supply chains for responsibly sourced critical minerals, in its ‘Breaking Down Barriers for Responsible Sourcing of Critical Minerals’ report released July 18. “We cannot build a green economy without responsibly sourced critical minerals,” the CMA said, adding

NYMEX front-month natural gas futures saw some upside movement ahead of the weekend, rising 41.6 cents to settle at $7.016/MMBtu on July 15. The strength came mainly from record hot temperatures across large portions of the US, which is forecast to continue through the balance of July. Near-term technically oversold conditions following the previous day’s