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Interest in Saudi Arabia’s incipient mineral deposit auctions program has surprised to the upside as investors seek resources in varied jurisdictions for energy transition applications, the kingdom’s minister of industry and mineral resources, Bandar bin Ibrahim Al-Khorayef, said. Political considerations over Saudi Arabia have not impeded investor interest, the minister said in an interview after […]

The European Commission is contemplating classifying lithium as toxic, which could hinder the EU’s aims to create and support a domestic battery materials supply chain, market participants told S&P Global Commodity Insights. At the end of 2021, the European Chemicals Agency’s Risk Assessment Committee agreed with French proposals to classify lithium carbonate, lithium hydroxide and

The immediate supply shock caused by Russia’s invasion of Ukraine was felt in power, petrol and supermarket prices across Europe — and now, as the war enters its fifth month, sanctions and financing restrictions may trigger supply-side changes that could affect natural gas, crude, diesel and grains for years to come. Russia’s commodity exports fell

US ferrous scrap suppliers are facing a very different economic landscape in the second half of the year, as extreme price volatility stemming from Russia’s invasion of Ukraine gives way to an uncertain macroeconomic outlook for the steel industry. Domestic US shredded scrap prices climbed a notch above their previous all-time record of $600/lt on

The Mexican steel market is bracing for a bearish third-quarter, as prices are expected to nosedive on lackluster demand and excess supply. Flat and long steel prices have been dropping for several consecutive weeks, and the speed and severity of the falls have concerned market participants from mills to end-users. With exports to US limited

The Group of Seven nations, a bloc of the world’s wealthiest states, plans to impose a ban on imports of Russian gold, US President Joe Biden said in a tweet on June 26. Gold “is a major export that rakes in tens of billions of dollars for Russia,” he said on Twitter. The US and

Six international investors and two domestic companies have prequalified to participate in an auction for exploration rights for Saudi Arabia’s Khnaiguiyah zinc and copper deposit, deputy minister for mining development Musad Abdulaziz Aldaood said during a June 24 roadshow in London, designed to attract strategic partners to help develop the kingdom’s mineral wealth. The prequalifying

Near-term scrap futures contracts on the London Metal Exchange continued to see strong losses over the week to June 23, while the trading volumes increased week on week. Platts assessed the June contract down $13/mt over the week to $375.50/mt June 23, while the July contract decreased $20/mt to $345/mt. The August contract fell $14.50/mt

China’s second-largest steelmaker Anshan Iron & Steel Group, or Angang, is planning to acquire Lingyuan Iron & Steel Group, which will further consolidate the steel industry in northeastern China’s Liaoning province. The move, just 10 months after Angang absorbed Benxi Iron & Steel, will take Angang’s annual crude steel output from 55.65 million mt in

China’s bauxite imports reached a monthly record high of 11.97 million mt in May, up 31.4% from a year, data from China’s General Administration of Customs showed June 24. Imports now have remained above 10 million mt for five consecutive months, according to the data. China’s bauxite imports are expected to stay elevated in the