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Near term scrap futures contracts on the London Metal Exchange saw strong losses over the week to June 9, while the trading volumes decreased on the week. S&P Global Commodity Insights’ Platts assessed the June contract down $30.50/mt over the week to $419.50/mt on June 9, while the July contract decreased $28.75/mt to $416.25/mt. The […]

US pig iron imports sank in April after a surge in imports and prices the previous month depleted Brazilian suppliers and discouraged US mills from further procurement. But strength in global steel prices boosted demand for ferrous scrap exports from the US to Turkey and Mexico, US census data showed. US pig iron imports slumped

The UK’s national energy regulator, Ofgem, has said its proposal to adjust the Default Tariff Cap for household gas and electricity supplies on variable rates to a quarterly regime will leave consumers “better off”. Following the launch of a consultation into the shift from seasonal to quarterly focus, Ofgem commissioned the NERA consultancy to compile

Carbon capture utilization and storage can provide a transitional solution to European steelmakers as the industry looks to cut carbon dioxide emissions. However, a final solution for achieving net-zero steel production will depend on how the steel is produced and the location of the mill, analysts with S&P Global Commodity Insights said June 8. In

Monthly US thermal and metallurgical coal exports increased 10.1% from the previous month to 7.3 million mt in April, US Census Bureau data showed June 8. Metallurgical coal accounted for 52.5% of total US coal exports at 3.8 million mt. Thermal coal exports at 3.5 million mt accounted for 47.5% of the US total. A

H2 Green Steel has signed a 14-TWh power purchase agreement with Norway’s Statkraft for its planned low-carbon steel production plant in Northern Sweden, the companies said in a statement June 8. The seven-year contract for 2 TWh/year will power the planned 800 MW electrolyzer that will produce hydrogen for the plant at Boden. The contract

Strict COVID-19-related control measures imposed at a key land entry points in China’s Inner Mongolia region is expected to pressure the country’s copper concentrates supply in the near term, industry sources said June 8. Authorities have imposed strict orders and suspended public transportation at the Erenhot land port from June 2 to contain rising COVID-19

US refiners are ramping up their plants after planned work to capture record-high margins, with S&P Global Commodity Insights anticipating that less than 2 million b/d of refinery capacity will be offline for the week ending June 10, compared with the 2.04 million b/d offline for the week ended June 3. REFINERY OUTAGES AND CONVERSIONS

Rising battery metal costs have contributed to a slump in electric vehicle sales, slowing the transition to a low-carbon economy. The average cost of making lithium-ion batteries used for EVs is increasing for the first time in roughly a decade, largely due to the inflated cost of key metals including lithium, cobalt and nickel. The

Europe has pledged a rapid transition away from Russian fossil fuels in response to the war in Ukraine, raising already-ambitious decarbonization goals in a concerted effort to end dependence on Russian gas by 2027. In the short-term, however, European carbon emissions could rise in response to the closure of nuclear reactors and a move to