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Most near-term ferrous scrap futures contracts on the London Metal Exchange saw sharp falls over the week to April 28, while trading volumes increased. The April contract was up $1/mt week on week by Platts to $620.50/mt on April 28, S&P Global Commodity Insights data showed, but the May contract fell $50/mt to $540/mt while […]

China has stepped up the pace of developing electric arc furnace-based steelmaking capacity in 2022 to mark growing efforts from the steel industry, which is steadily aligning itself with the country’s lofty decarbonization goals. The country has approved the construction of 16 new EAFs with a total crude steel capacity of 13.67 million mt/year over

The US Department of the Interior will need to create long-term liability rules for offshore carbon injection wells if the carbon capture and storage industry is going to fulfill its potential in the US, experts said during an April 28 House subcommittee hearing. The Biden administration’s Infrastructure Investment and Jobs Act passed last year instructs

Brazilian miner Vale is continuing with the process of divestment of two non-core assets: steelmaker Companhia Siderurgica do Pecem and bauxite miner Mineracao Rio do Norte, a company executive said April 28. “We’ve done a lot to clean up most of the non-core assets out of our portfolio and we just have two candidates left:

The UK’s Serious Fraud Office has stepped up an investigation into some of the UK companies in the steel, aluminum and energy grouping Gupta Family Group Alliance and its historic relationship with financier Greensill Capital, which collapsed in March 2021. GFG Alliance said April 27 in an internal memo to employees that it will comply

To help boost war-ravaged Ukraine’s exports to the EU, the European Commission proposed April 27 to suspend for one year its import duties on all Ukrainian exports to the bloc, it said on its website. The proposal would also see the suspension for one year of all EU anti-dumping and safeguard measures in place on

China’s steel inventories hit a 13-month high April 20 as the country’s steel production continued to climb steadily in the wake of weak demand amid the latest COVID-19 resurgence. Domestic markets have a mixed steel demand outlook for the coming weeks, as pandemic uncertainty looms over the industry. Some sources said demand could rebound strongly

Marine gasoil prices in the Amsterdam-Rotterdam-Antwerp hub are spiking and there appears little let up in the supply squeeze of the fuel crucial for ships staying compliant with sulfur standards in the European waters. Delivered MGO at Rotterdam reached $1,340 April 21, surging 30.7% in two weeks. Levels across the Mediterranean climbed to similar highs.

Pilbara Minerals’ fourth spodumene concentrate auction saw 5,000 mt spodumene concentrate with 5.5% lithium oxide, loading between June 15 and July 15, sold at $5,650/dmt on an FOB Port Hedland basis on April 27, equivalent to $6,163.6/dmt for 6% lithium oxide. The freight rate to China was $90/dmt. General expectations had been for a price

South Korean battery maker LG Energy Solution aims to have a global production capacity of 520 GWh/year by 2025, a more than 2.6 time spike, the company said April 27, with 41% of the output based in North America. To support the expansion, LGES will raise its capital expenditure to Won 7 trillion ($5.54 billion)