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Ukrainian mining and steel company Metinvest aims to make all its steel in direct-reduced iron-fed furnaces by 2050 as part of a $20-plus billion transition away from sinter and coke-based production that will slash greenhouse gas emissions by 90%, CEO Yyriy Ryzhenkov told S&P Global Platts. Metinvest — which accounted for 45% (9.5 million mt) […]

Russia signed a major gas supply deal Feb. 4 with China on the back of a meeting between Russian President Vladimir Putin and his Chinese counterpart Xi Jinping as geopolitical tensions with the US over Ukraine continue to weigh on commodity prices. “Tensions have been flaring between the United States, European Union and Russia in

Energy major Shell has confirmed a light oil discovery at the Graff-1 well offshore Namibia, marking the first oil find for the southern African country, a company spokesperson said Feb. 4. Energy major Shell has confirmed a light oil discovery at the Graff-1 well offshore Namibia, marking the first oil discovery for the southern African

Indonesia has decided to levy penalties on thermal coal miners that failed to meet their annual domestic market obligation, or DMO, in 2021, as well as impose several restrictions on exports, according to a decree issued by the energy ministry, seen by S&P Global Platts Feb. 4. The decision comes weeks after the country relaxed

As demand for wind turbines — and the steel plate and rebar needed to build them — grows in the race to decarbonize energy sources, steelmakers and their windpower customers are striving to more closely align their sustainability goals. Several European Union platemaking mills — prime movers in steel sector decarbonization worldwide — are bringing

Electric arc furnace-based mills are the closest the industry has come to making green steel, with the carbon footprint below 500 kg of CO2 per ton at some facilities, Russian steel pipe and railway wheel manufacturer OMK told S&P Global Platts. However, ferrous scrap recycling cannot meet all demand for steel, making the production of

Sweden’s power consumption is on the rise after years of stasis due to accelerating electrification, transmission system operator Svenska kraftnat said in a five-year outlook report Feb. 1. Under a central case demand would increase over 10% from 142 TWh to 157 TWh between 2022-26, driven by data centers and electrification of industrial processes. “If

Ongoing volatility in the global magnesium market, characterized by uncertain supply and high prices in 2021, could encourage US consumers and market participants to build up their inventories and increase scrap recovery initiatives, industry stakeholders said Feb. 1. “I think there’s going to be an increase in inventory by magnesium consumers as a hedge against

Metals prices may continue on a rising trend for around 15 years, because the recycling needs to supplement primary supplies will kick in on a major scale only at that time, Benedikt Sobotka, CEO of diversified miner Eurasian Resources Group, told S&P Global Platts in an interview. Energy transition is a driving trend “with all

European steel producers, distributors and traders were found to be bullish on pricing over February, despite a constrain from reduced purchasing activity. A lack of import competition and rising costs are expected to keep prices at elevated levels in the near term, data from the S&P Global Platts monthly steel sentiment survey showed. As automotive