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Japanese utilities and manufacturers are stepping up efforts to seek alternative supplies to Russian coal from Australia, Indonesia and Vietnam, among others, the Ministry of Economy, Trade and Industry said May 17, following the country’s decision to phase out Russian coal imports. “Power utilities and manufacturers are accelerating their efforts to replace Russian coal via […]

Global leaders have not done enough to deliver on the commitments made at the UN Climate Change Conference held in Glasgow in November 2021, COP26 President Alok Sharma said May 16. He called for concrete action to accelerate progress in low-carbon steel and hydrogen, as well as for progress in exiting fossil fuels. In a

COVID-19 outbreak in 29 Chinese provinces and cities, in particular Shanghai and Changchun, had a greater impact on downstream demand for battery metals than raw materials supply in April. China’s demand for battery metals will continue to face challenges in May, as it might take some time for electric vehicle producers to resume production interrupted

Fortescue Future Industries will explore the possibility of transforming a Washington coal mine that once supplied a 670-MW coal plant into a green hydrogen production facility, Fortescue has said. Fortescue Future Industries, a subsidiary of the Australian iron ore company Fortescue Metals Group, entered into a binding exclusivity agreement announced May 13 with the Industrial

Latin American diesel prices have backed away from record highs just enough that market sources say they finally see some easing in the refined product markets due to new sourcing options from Asia and Europe. “Yes, the market is relaxing,” one Latin America source said. “I think the whole distillates market will go down.” This

Russia could be on course for a record wheat crop this year, strengthening the role of the world’s biggest wheat exporter at a time when its invasion of Ukraine may help to trigger the first decline in global production since 2018-19. The US Department of Agriculture projected a 5 million mt fall in global wheat

Near term scrap and rebar futures contracts on the London Metal Exchange saw heavy losses over the week to May 12, while the trading volumes decreased on the week. S&P Global Commodity Insights’ Platts assessed the May contract $52.50/mt lower on the week to $482.50/mt May 12. The June contract fell $61/mt to $469.50/mt, while

Rare earth element, or REE, prices are likely to remain strong over the coming years, as demand is set increase faster than supply, Ionic Rare Earths Managing Director Tim Harrison told S&P Global Commodity Insights. “Where REE pricing is now, it’s probably here for the long-term,” he said. “As for prices to drop there’d have

Japan Petroleum Exploration Co. said May 13 it expects to more than double its equity crude oil sales to 935,000 kl or 5.88 million barrels in fiscal year 2022-23 (April-March), up from 357,000 kl in the previous fiscal year due mainly to increasing sales of Iraqi and US crude. In Iraq, the operator of the

As the world’s wheat and corn importers struggle to assess the longer-term impact of Russia’s invasion of Ukraine, May 12 will provide the first opportunity to see the US Department of Agriculture’s production and export estimates for the marketing year 2022-23 (July-June). The March and April editions of the USDA’s World Agricultural Supply and Demand