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S&P Metals

• Steelmaker Stelco, USW reach tentative agreement; vote scheduled Aug 19
  Representative from United Steelworkers Local 8782 and Canadian steelmaker Stelco have reached a tentative labor agreement and are set to vote Aug. 19. The representatives arrived at the tentative agreement following five months of negotiations, USW Local 8782 President Randy Graham said in an email seen by S&P Global Commodity insights Aug. 18. Union members […]
• Infographic: Low Rhine levels impact commodity deliveries
  Low water levels along the Rhine have increased freight rates and forced barges to part-load. With shipments to inland demand centers restricted, stocks have been building in Amsterdam-Rotterdam-Antwerp. This is having a bearish impact on commodities going down the Rhine, but is bullish for final products. If restrictions continue, it could slow down production. Click […]
• China's power shortages disrupt nonferrous operations
  Authorities in several parts of China facing scorching heat have issued electricity supply alerts, including a call for a blanket ban on energy-intensive industrial production for one week in the Chongqing city, leading ferrous and nonferrous industry players to look for options to mitigate disruptions in activity, sources said. Chongqing in China's southwest has called […]
• INTERVIEW: Policy risks disrupt investment in carbon project development - asset manager
  Recent moves by several governments to halt export of carbon credits have hindered new investment in carbon project development and prompted changes in business strategy, Kelvin Fu, co-founder and managing partner with Gunung Capital said in an interview with S&P Global Commodity Insights. Singapore-based Gunung Capital, an asset management company with businesses in steel, cement […]
• Biden administration scores win in legal battle over federal oil, gas leasing
  A legal victory backing, albeit on a technicality, the Biden administration's moratorium on federal oil and natural gas leasing is unlikely to rattle domestic production or prompt new action by the administration which had already turned to other means to address its concerns with onshore and offshore lease sales. The 5th US Circuit Court of […]
• LME suspends Russian nickel from entering two British warehouses
  The London Metal Exchange has suspended placing Russian-origin nickel on warrant in its warehouses in the UK, an LME spokesperson told S&P Global Commodity Insights Aug. 17. The UK government had recently imposed a 35% additional duty on the imports of nickel of Russian and Belarussian origin that will affect shipments initiated from July 20. […]
• UBS raises LFP global battery market share outlook to 40% by 2030
  UBS analysts said Aug. 16 they expect iron-based lithium-iron-phosphate (LFP) batteries to represent 40% of the global battery market by 2030, 25 percentage points higher than previous projections, due to improved driving range performance from LFP batteries and growing interest from battery producers to seek alternatives to the more common high-nickel content battery chemistries. "The […]
• Weardale Lithium to potentially supply lithium feedstock to Tees Valley Lithium's refinery
  Weardale Lithium has agreed to potentially supply lithium feedstock to Tees Valley Lithium's lithium hydroxide plant in Teesside, UK, and collaborate to create a battery-supply chain industrial hub in North East England, the companies said Aug. 15. The two companies have signed a memorandum of understanding to evaluate the potential supply, as well as to […]
• SINGAPORE DATA: July bunker sales up 9.8% on month, highest level of year to date
  Bunker fuel sales in Singapore reached 4.121 million mt in July, up 9.8% month on month and 1.4% higher on the year, reaching the highest level of 2022 so far, according to preliminary data from the Maritime and Port Authority of Singapore Aug. 13. Sales of both low sulfur fuel oil bunkers in July reversed […]
• FUTURES WRAP: LME scrap contracts see strong gains
  Near-term scrap and rebar futures contracts on the London Metal Exchange saw strong gains over the week to Aug. 11, while weekly trading volumes dipped. Platts, part of S&P Global Commodity Insights, assessed the August contract up $32.50/mt on the week to $397/mt Aug. 11. The September contract gained $14.50/mt on the week to $394.50/mt, […]