Asian steelmakers are accelerating efforts to comply with the EU’s Carbon Border Adjustment Mechanism as the announcement of a clear carbon price under the regime and tightening import restrictions begin to reshape export economics, trade flows and pricing structures. Market participants said mills are prioritizing
China, a major buyer of US agricultural products, notably reduced purchases of soybeans and major proteins amid the tariff dispute, while market participants now focus on the May 14-15 meeting between US President Donald Trump and Chinese President Xi Jinping for potential policy signals. In
Feedgas deliveries to the Golden Pass export terminal were near zero for a sixth consecutive day on May 18, which the operator of the Texas facility attributed to planned maintenance after shipping the second cargo from the facility. The outage at Golden Pass added to
The Norwegian government warned the European Commission in a memo sent in 2025 and seen by Platts that the EU’s methane emissions regulation could lower Norway’s oil and natural gas exports to the EU and, ironically, increase Norwegian producers’ total upstream greenhouse gas emissions. “We
Australian copper cathode producer Austral Resources Australia Ltd. aims to produce 50,000 metric tons of copper metal annually after its acquisition of the Rocklands mine and Glencore PLC’s Lady Loretta project in Queensland in 2026. Austral, which was reinstated to the Australian Securities Exchange in
India’s ONGC Ltd is embarking on a series of expansion projects to boost its footprint in petrochemicals trading, as well as energy logistics and shipping, helping the state-run company to diversify its portfolio beyond oil and gas production, company sources said on May 27 and
Azerbaijani President Ilham Aliyev said June 1 that reliable energy security is directly linked to diversifying energy sources and applying innovative technologies, as the country grapples with declining oil output. Azerbaijan’s oil output has fallen in recent years. It produced 470,000 barrels/day of crude in
US chemical companies settled the May ethylene contract price at 35.50 cents/lb, up 0.75 cents/lb month over month, market sources confirmed June 1. The CP is negotiated based on monthly spot ethylene pricing and feedstock ethane movements, which directly impact production costs. In May, spot
Colombia’s upcoming presidential election on June 21 could reopen the country’s oil and gas industry if far-right candidate Abelardo de la Espriella wins, although passing any reforms would face serious obstacles, according to industry sources. De la Espriella led the May 31 election against Iván
This report is part of the S&P Global Energy’s Metals Trade Review series, where we dig through datasets and digest some of the key trends in iron ore, metallurgical coal, copper, alumina, cobalt, lithium, nickel and steel and scrap. We also explore what the next
A growing number of countries are seeking to revise the International Maritime Organization’s Net-Zero Framework during the latest round of negotiations, but critics said changing the previously approved rules will lead to further delays or put the regulation in jeopardy. Following technical meetings in London
US wheat futures have largely strengthened since April 13 as persistent dry weather across key growing regions has raised concerns about potential crop damage. CBOT wheat futures for July rose 13.25 cents/bushel on the day to settle at 620.25 cents/bu on April 23, while Kansas
BP is monitoring the EU’s natural gas storage fill levels as the company gauges gas price development over the near term amid the sustained supply shock from the ongoing conflict in the Middle East, deputy CEO Carol Howle told analysts April 28 on the energy
The World Bank projected aluminum prices to increase by 21.6% this year compared with 2025, with the forecast underpinned by tight supply and inventories, alongside firm demand from emerging industries. The market price, however, has been exceeding that projection for almost two months now. Aluminum
The Middle East war is set to cause an aluminum supply shortage that is expected to heavily impact the global electronics industry, John Mitchell, president and CEO of the Global Electronics Association trade group, told Platts, part of S&P Global Energy, in an interview. The
European soybean meal prices, majorly in the Netherlands, slipped into an easing trend since hitting record highs on April 29, amid weaker offers and declining origin premiums. European soybean meal price hit a record high on April 29 when Platts, part of S&P Global Energy,
Brazilian steel market participants expect steel prices to rise 8.36 points to 65.62 points in May, according to the Platts Monthly Market Sentiment Survey from S&P Global Energy. The forecast is the highest for finished steel prices since August 2024, according to Platts data. Similarly,
Sustainable aviation fuel production could enhance energy security by creating local feedstock sources, though divergent global incentives risk complicating project economics and investment decisions, producers said May 14. Extended supply lines for jet fuel, which have been rattled by the war in the Middle East,
Platts wheat benchmark, the Milling Wheat Marker, has stayed in the high $230s to low $240s per metric ton since early March amid steady demand and tight exporter margins. On May 14, the MWM tracked Russian 12.5% protein wheat at $241/mt, while April’s monthly average
Indonesia plans to establish a state-backed body to oversee exports of key commodities, including coal and palm oil, President Prabowo Subianto said in an address to Parliament on May 20, as part of efforts to strengthen state control over natural resources and lift government revenue.
The Offshore Alliance has canceled its planned strike action at the Ichthys LNG sites in Australia over May 27-28, an Offshore Alliance spokesperson told Platts, part of S&P Global Energy, on May 26. “The OA has pulled strike action for tomorrow and Thursday due to
NorSAF will use KBR’s proprietary PureSAF technology at what is planned to become Northern Europe’s largest sustainable aviation fuel production facility, amid escalating EU mandates requiring a minimum 6% SAF blend at airports by 2030, according to a statement released May 28. NorSAF, a leading
US chemical companies settled the May ethylene contract price at 35.50 cents/lb, up 0.75 cents/lb month over month, market sources confirmed June 1. The CP is negotiated based on monthly spot ethylene pricing and feedstock ethane movements, which directly impact production costs. In May, spot
US natural gas storage injections in the week ended May 29 were likely lower year over year, cutting the surplus to 2025 levels to almost zero. Gas market analysts expect the US Energy information Administration to report a weekly net injection of 99 billion cubic
Liquidity across the Northwest European LNG markets has taken a hit due to narrow LNG-gas economics and stronger global competition for cargoes, traders said. Since the onset of the war in the Middle East, about 20% of global LNG flows from the Middle East have
This report is part of the S&P Global Energy’s Metals Trade Review series, where we dig through datasets and digest some of the key trends in iron ore, metallurgical coal, copper, alumina, cobalt, lithium, nickel and steel and scrap. We also explore what the next
A full global gas recovery would take six months to a year if the supply-sapping US-Israeli war in Iran stopped tomorrow, but shifts could be more structural if the conflict endures for six months or longer, reducing necessary upstream investment, the head of the Gas
Ukraine 11.5% wheat and corn prices are nearly at parity, at a 50-cent/metric tonprice spread, driven by stronger demand for corn from Turkey following the introduction of a quota with reduced import duties. Corn prices rose to their highest level so far in the current
As BGN expands into LNG, it aims to mirror the reach achieved in its well-established LPG arm, the trading group’s co-heads of LNG, Ruben Mosquera Arias and Maria Eugenia Suardiaz, told Platts in an interview on April 20. “The countries that import LPG and the
The ongoing Middle East crisis will likely change the global energy system in the longer term, given the significant disruption it continues to cause in the commodities market, Chevron CEO Mike Wirth said May 1. “It’s early to have firm conclusions about how the energy
Demand for bunker fuels at Sri Lankan ports fell in April due to issues with barge availability, according to multiple market sources. Low inquiries, tighter credit and cautious risk exposure kept activity subdued in April, with May driven mainly by earlier contracts. Sri Lanka demand
Global vegetable oil markets have tightened significantly in recent weeks as rising crude oil prices and expanding biofuel demand widened South American soybean oil spreads against Asian crude palm oil, reshaping arbitrage relationships into Asia. Chicago Board of Trade July soybean oil futures rallied above
China’s surging semi-finished steel exports, led by slab shipments, are partially offsetting weaker finished steel exports in 2026 so far, as antidumping measures have mainly targeted finished steel shipments. China’s semi-finished steel exports, which face almost no antidumping measures globally, remain on a year-over-year upward
India’s ONGC plans new projects aimed at reversing declining oil output from its matured fields, focusing on enhancing production capabilities. Learn more.India’s ONGC plans new projects aimed at reversing declining oil output from its matured fields, focusing on enhancing production capabilities. Learn more.Read More
European light olefins supply is expected to increase from May to June as multiple facilities across key locations restart. Some facilities are returning to operation earlier than originally expected. Spanish energy and petrochemicals company Repsol is likely to resume operations at its Sines steam cracker
India’s peak power demand hit a record high on May 21, as temperatures soared across the country, spurring expectations of increased gas demand, sources said over May 21-22. The country’s peak power demand hit a record high of 270.82 GW on May 21, marking the
Greta Group will continue developing its UK-based steel recycling business, seeing scrap, along with direct-reduced iron, behind the biggest steel production routes of the future, while in India, it is setting up an iron ore-based steelworks that will have low-carbon emissions despite using thermal coal
Vietnam’s fragrant rice prices fell to their lowest level in a month as demand from the Philippines weakened, reversing a two-month rally, multiple sources told Platts on May 28. With the summer-autumn harvest expected to add fresh supply in the coming weeks, the combination of
The Offshore Alliance trade union said it began strike action at the INPEX-operated Ichthys LNG sites in Australia early June 2, a development that could add to tightening supply in the Pacific Basin. “Protected industrial action ramps up today on all 3 INPEX facilities with
Australia’s mineral exploration expenditure rose year over year in the quarter ended March 31, government data showed, but industry fears a new federal tax could stifle the momentum amid volatile markets. Australian mineral spend rose 16.3% to A$949.3 million ($679.33 million) in the March quarter
The US Energy Information Administration reported June 4 a lower-than-expected weekly addition to natural gas storage inventories, reducing the surplus relative to the five-year average and sending stocks below 2025 levels. US natural gas inventories climbed by 95 billion cubic feet in the week ended
Japan’s largest refiner, ENEOS, has introduced a new pricing mechanism for its wholesale oil products, effective April 16, to better reflect broader crude procurement costs, the company said in a letter to its customers. The letter, seen by Platts, part of S&P Global Energy, showed
A cluster of phenol and acetone disruptions outside Europe, most notably an unplanned outage in Brazil and propylene-driven production disruptions in India, has redirected buying interest toward European sellers, reshaping trade flows, sources said in the week up to April 20. At the same time,
The US government extended a Jones Act waiver by 90 days, a White House spokesperson confirmed April 24, as the Trump administration continued its efforts to contain energy costs amid its ongoing conflict with Iran. The extension will begin at 12 am ET on May
Iraq’s power stations that rely on imports need more than double the gas that is available, the electricity ministry spokesperson Ahmed Moussa said in the ministry’s Facebook post April 26. Imports of gas do not exceed 15 million cubic meters a day currently, as the
A nickel price rebound could help ease cost pressure on nickel producers that are hampered by globally tight sulfur supplies, executives from Vale and Nickel Industries said on their respective first-quarter earnings calls. Nickel prices have been rising in 2026, thanks in part to Indonesian
An unidentified cargo ship was attacked by an unknown projectile in the Strait of Hormuz, the UK Maritime Trade Operations said on X, formerly known as Twitter, on May 5. The incident was reported at 1830 GMT on May 5, UKMTO said. “Environmental impact is
New EU rules will provide a legal channel for recycling shadow fleet tankers, according to industry participants and analysts, even though their actual impact could be limited by the complex international sanctions network. In its 20th sanctions package against Russia, adopted April 23, Brussels announced
China’s surging semi-finished steel exports, led by slab shipments, are partially offsetting weaker finished steel exports in 2026 so far, as antidumping measures have mainly targeted finished steel shipments. China’s semi-finished steel exports, which face almost no antidumping measures globally, remain on a year-over-year upward
The Riyadh-based International Energy Forum on May 15 called on governments and industry stakeholders to protect energy infrastructure and trade routes, as well as increase data transparency to bolster market confidence. “Ongoing developments in the Middle East highlight that energy security, market stability, affordability, and
Limited access to reliable CO2 from biological or renewable sources is undermining Indian eMethanol projects aimed at supplying bunker fuel and supporting shipping decarbonization, as producer prices remain substantially above buyer expectations. At least eight Indian eMethanol projects surveyed by Platts, part of S&P Global
Primary aluminum production by the Gulf countries in April fell to 62% of its prewar daily rate, the International Aluminium Institute, which represents the global aluminum industry, said in a May 20 statement. Preliminary production data from the Gulf region shows its daily aluminum output
Middle East LNG exporters could spend years resolving contractual disputes and restoring missed deliveries after LNG tanker traffic through the Strait of Hormuz resumes, with a backlog of claims potentially affecting cargo programming well into 2027, contract lawyers have told Platts. “A key question remains
The heat wave sweeping India is set to take a toll on near-term demand for transport fuels as citizens look to cut travel and reduce outdoor activity, but higher usage of generators for power generation as well as agriculture during the monsoon season could limit
Egypt was the top destination for US LNG cargoes delivered in May, while US shipments to Asia continued to rise during the month to help offset supply disruptions caused by the war in the Middle East, an analysis of S&P Global Energy CERA data showed
British oil major BP expects to supply 89 cargoes from the Tangguh LNG project to Indonesia’s domestic market in 2026, up 4.7% year over year, Head of Country BP Indonesia James Tehubijuluw told lawmakers in a public hearing on June 3. The Papua-based facility continues
Mounting weather concerns and bullishness from offshore wheat markets lent strength to Australian wheat prices in May, though a weaker currency and significant rains across dry cropping regions in New South Wales boosted near-term crop prospects and encouraged more old crop sales, causing prices to
A weaker US dollar helped propel crude futures higher May 7 despite a weaker-than-expected US…A weaker US dollar helped propel crude futures higher May 7 despite a weaker-than-expected US…A weaker US dollar helped propel crude futures higher May 7 despite a weaker-than-expected US…
Colonial Pipeline has halted all pipeline operations because of a cybersecurity attack, restricting the delivery…Colonial Pipeline has halted all pipeline operations because of a cybersecurity attack, restricting the delivery…Colonial Pipeline has halted all pipeline operations because of a cybersecurity attack, restricting the delivery…
Colonial Pipeline has halted all pipeline operations because of a cybersecurity attack involving ransomware, restricting…Colonial Pipeline has halted all pipeline operations because of a cybersecurity attack involving ransomware, restricting…Colonial Pipeline has halted all pipeline operations because of a cybersecurity attack involving ransomware, restricting…
Colonial Pipeline has halted all pipeline operations because of a cybersecurity attack involving ransomware, restricting…Colonial Pipeline has halted all pipeline operations because of a cybersecurity attack involving ransomware, restricting…Colonial Pipeline has halted all pipeline operations because of a cybersecurity attack involving ransomware, restricting…
Colonial Pipeline has halted all pipeline operations because of a cybersecurity attack involving ransomware, restricting…Colonial Pipeline has halted all pipeline operations because of a cybersecurity attack involving ransomware, restricting…Colonial Pipeline has halted all pipeline operations because of a cybersecurity attack involving ransomware, restricting…
Very Large Gas Carrier, or VLGC, rates are set to rally further in the near…Very Large Gas Carrier, or VLGC, rates are set to rally further in the near…Very Large Gas Carrier, or VLGC, rates are set to rally further in the near…
The ongoing second wave of the deadly coronavirus pandemic in India is expected to snowball…The ongoing second wave of the deadly coronavirus pandemic in India is expected to snowball…The ongoing second wave of the deadly coronavirus pandemic in India is expected to snowball…
US Gulf Coast refining margins have risen as the lifting of coronavirus restrictions have boosted…US Gulf Coast refining margins have risen as the lifting of coronavirus restrictions have boosted…US Gulf Coast refining margins have risen as the lifting of coronavirus restrictions have boosted…
The S&P Global Platts India CEO Series is a compilation of exclusive interviews with the…The S&P Global Platts India CEO Series is a compilation of exclusive interviews with the…The S&P Global Platts India CEO Series is a compilation of exclusive interviews with the…
Headwinds have reemerged for the Asian gasoline market, as new pockets of COVID-19 infections across…Headwinds have reemerged for the Asian gasoline market, as new pockets of COVID-19 infections across…Headwinds have reemerged for the Asian gasoline market, as new pockets of COVID-19 infections across…
Green hydrogen company Everfuel is planning a 300 MW electrolyzer project adjacent to the Fredericia…Green hydrogen company Everfuel is planning a 300 MW electrolyzer project adjacent to the Fredericia…Green hydrogen company Everfuel is planning a 300 MW electrolyzer project adjacent to the Fredericia…
The Semiconductors in America Coalition pressed Congress May 11 to include significant funding for US…The Semiconductors in America Coalition pressed Congress May 11 to include significant funding for US…The Semiconductors in America Coalition pressed Congress May 11 to include significant funding for US…
Hot-rolled coil and busheling scrap futures continued their move higher during the week ended May…Hot-rolled coil and busheling scrap futures continued their move higher during the week ended May…Hot-rolled coil and busheling scrap futures continued their move higher during the week ended May…
0240 GMT: Crude oil futures inched higher in mid-morning trade in Asia May 12 after…0240 GMT: Crude oil futures inched higher in mid-morning trade in Asia May 12 after…0240 GMT: Crude oil futures inched higher in mid-morning trade in Asia May 12 after…
The Colonial Pipeline is making “forward progress” in the full restart of its operations, and…The Colonial Pipeline is making “forward progress” in the full restart of its operations, and…The Colonial Pipeline is making “forward progress” in the full restart of its operations, and…
A fire broke out at the Trans-Israel or Eilat-Ashkelon pipeline in Ashkelon, Israel, after a…A fire broke out at the Trans-Israel or Eilat-Ashkelon pipeline in Ashkelon, Israel, after a…A fire broke out at the Trans-Israel or Eilat-Ashkelon pipeline in Ashkelon, Israel, after a…
Aluminum demand should take only a limited hit in the automotive sector over the next…Aluminum demand should take only a limited hit in the automotive sector over the next…Aluminum demand should take only a limited hit in the automotive sector over the next…
Container throughput at the Port of Long Beach, California, in April eased back from an…Container throughput at the Port of Long Beach, California, in April eased back from an…Container throughput at the Port of Long Beach, California, in April eased back from an…
Mexico’s Pemex will invest $2.64 billion to complete a coking plant at its Tula refinery…Mexico’s Pemex will invest $2.64 billion to complete a coking plant at its Tula refinery…Mexico’s Pemex will invest $2.64 billion to complete a coking plant at its Tula refinery…
Mexico’s Pemex will invest $2.64 billion to complete a coking plant at its Tula refinery…Mexico’s Pemex will invest $2.64 billion to complete a coking plant at its Tula refinery…Mexico’s Pemex will invest $2.64 billion to complete a coking plant at its Tula refinery…
The S&P Global Platts India CEO Series is a compilation of exclusive interviews with the…The S&P Global Platts India CEO Series is a compilation of exclusive interviews with the…The S&P Global Platts India CEO Series is a compilation of exclusive interviews with the…
China’s robust demand forecast for soybeans is likely to boost international soybean prices, at least…China’s robust demand forecast for soybeans is likely to boost international soybean prices, at least…China’s robust demand forecast for soybeans is likely to boost international soybean prices, at least…
1004 GMT: Oil futures prices fell in midmorning London trading May 13 on news that…1004 GMT: Oil futures prices fell in midmorning London trading May 13 on news that…1004 GMT: Oil futures prices fell in midmorning London trading May 13 on news that…
Colonial Pipeline said it expects to deliver fuel to all of its markets by midday…Colonial Pipeline said it expects to deliver fuel to all of its markets by midday…Colonial Pipeline said it expects to deliver fuel to all of its markets by midday…
Foreign-flagged ships previously booked for voyages from the US Gulf Coast to the US Atlantic…Foreign-flagged ships previously booked for voyages from the US Gulf Coast to the US Atlantic…Foreign-flagged ships previously booked for voyages from the US Gulf Coast to the US Atlantic…
Colonial Pipeline said it expects to deliver fuel to all of its markets by midday…Colonial Pipeline said it expects to deliver fuel to all of its markets by midday…Colonial Pipeline said it expects to deliver fuel to all of its markets by midday…
Brazil’s Mines and Energy Ministry is keeping its mandate for 10% biodiesel blending into diesel…Brazil’s Mines and Energy Ministry is keeping its mandate for 10% biodiesel blending into diesel…Brazil’s Mines and Energy Ministry is keeping its mandate for 10% biodiesel blending into diesel…
Thailand’s third Quota B raw sugar tender on May 12 saw lower average cash premium…Thailand’s third Quota B raw sugar tender on May 12 saw lower average cash premium…Thailand’s third Quota B raw sugar tender on May 12 saw lower average cash premium…
Methanex Corporation subsidiary Waterfront Shipping carried out barge-to-ship bunkering of methanol in collaboration with the…Methanex Corporation subsidiary Waterfront Shipping carried out barge-to-ship bunkering of methanol in collaboration with the…Methanex Corporation subsidiary Waterfront Shipping carried out barge-to-ship bunkering of methanol in collaboration with the…
Spain has become the latest European country to set a date for a ban on…Spain has become the latest European country to set a date for a ban on…Spain has become the latest European country to set a date for a ban on…
The US Department of Justice on May 14 sought to derail the proposed $30.5 billion…The US Department of Justice on May 14 sought to derail the proposed $30.5 billion…The US Department of Justice on May 14 sought to derail the proposed $30.5 billion…
The US Department of Justice on May 14 sought to derail the proposed $30.5 billion…The US Department of Justice on May 14 sought to derail the proposed $30.5 billion…The US Department of Justice on May 14 sought to derail the proposed $30.5 billion…
The US Department of Justice on May 14 sought to derail the proposed $30.5 billion…The US Department of Justice on May 14 sought to derail the proposed $30.5 billion…The US Department of Justice on May 14 sought to derail the proposed $30.5 billion…
The US Department of Justice on May 14 sought to derail the proposed $30.5 billion…The US Department of Justice on May 14 sought to derail the proposed $30.5 billion…The US Department of Justice on May 14 sought to derail the proposed $30.5 billion…
Improving commodity prices and new energy infrastructure that provides outlets for Western Canada oil and…Improving commodity prices and new energy infrastructure that provides outlets for Western Canada oil and…Improving commodity prices and new energy infrastructure that provides outlets for Western Canada oil and…
US caustic soda exports in the first three months of 2021 fell 3% from the…US caustic soda exports in the first three months of 2021 fell 3% from the…US caustic soda exports in the first three months of 2021 fell 3% from the…
0312 GMT: Crude oil futures were rangebound during mid-morning trade in Asia May 7 as…0312 GMT: Crude oil futures were rangebound during mid-morning trade in Asia May 7 as…0312 GMT: Crude oil futures were rangebound during mid-morning trade in Asia May 7 as…
Singapore’s FueLNG — a joint venture between Keppel Offshore & Marine and Shell Eastern Petroleum…Singapore’s FueLNG — a joint venture between Keppel Offshore & Marine and Shell Eastern Petroleum…Singapore’s FueLNG — a joint venture between Keppel Offshore & Marine and Shell Eastern Petroleum…
Chinese oil companies’ lack of export quotas is likely to cap their supplies of domestically-produced…Chinese oil companies’ lack of export quotas is likely to cap their supplies of domestically-produced…Chinese oil companies’ lack of export quotas is likely to cap their supplies of domestically-produced…
OPEC and its allies have overproduced their quotas by a cumulative 3.316 million b/d through…OPEC and its allies have overproduced their quotas by a cumulative 3.316 million b/d through…OPEC and its allies have overproduced their quotas by a cumulative 3.316 million b/d through…
US caustic soda exports in the first three months of 2021 fell 3% from the…US caustic soda exports in the first three months of 2021 fell 3% from the…US caustic soda exports in the first three months of 2021 fell 3% from the…
In an effort to ensure that the UK can reduce emissions by 78% by 2035,…
US steelmakers were able to mostly brush off automotive-related demand reductions as semiconductor shortages plague…