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29 September 2023

Worthington sees economic stress for steel

Steel service center Worthington Industries expects some stress in the broader economy amid high inflation and slowing demand. "Our businesses continue to perform well despite some economic uncertainty and signs that consumers are stretched," chief executive Andy Rose said of the fiscal first quart

29 September 2023

UAW expands strike against Ford, GM

The United Auto Workers (UAW) union is expanding strikes against US automakers Ford and General Motors (GM). The union will strike Ford's Chicago SUV assembly plant and GM's Lansing Delta Township, Michigan, SUV plant. The adjacent Lansing Regional Stamping plant will not strike, UAW president Shaw

29 September 2023

UAW threatens to extend strike to Mack Trucks

The United Auto Workers (UAW) union is threatening to expand its strike against the Big 3 automakers to Mack Trucks, citing lack of progress in contract negotiations ahead of a 1 October deadline, even as the truck producer says the two sides have reached tentative agreements. "Our members at Mack

29 September 2023

Spot and contract steel prices need to diverge: Mills

European hot-rolled coil (HRC) producers tell Argus that they will insist on rollovers for January-June 2024 contracts, in line with price levels for the second half of this year. Mills suggest — somewhat tenuously, according to buyers — that spot prices and longer-term contract values need to dive

29 September 2023

US commodity industries brace for fed shutdown

A halt to energy permitting on federal land, disruptions to agricultural and import data, and air travel delays are among the potential effects of a US federal government shutdown that could begin this weekend. President Joe Biden has used the last month to urge the US Congress to come up with an a

29 September 2023

India’s Vedanta to split into six business units

Indian private-sector resources firm Vedanta plans to separate its six business units into independent companies to attract investment for expansion and growth of each unit. The company is demerging into Vedanta Aluminium, Vedanta Oil and Gas, Vedanta Power, Vedanta Steel and Ferrous Materials, Ved

29 September 2023

Germany exceeds climate finance target

Germany exceeded its international climate finance target by making more than €6bn available last year, the government announced today, calling on other industrialised countries to "pay their fair share". Germany's federal government last year made a total of €6.39bn available from budget funds for

29 September 2023

Green shipping progress uneven: BCG, Singapore’s GCMD

The maritime industry's path to decarbonisation is high priority but progress is uneven and needs a "whole-of-value-chain" and integrated approach, a report by the Global Center for Maritime Decarbonisation (GCMD) and Boston Consulting (BCG) has said. Net zero is seen as a strategic priority and 77

29 September 2023

Japan’s LPG stocks hit four-year high in August

Japan's LPG stocks totalled 1.9mn t at the end of August, the highest since September 2019, as warmer-than-usual weather capped domestic gas demand for heating. The August stocks were also higher by 8.6pc from a month ago and by 9.5pc from a year ago, according to preliminary data from the Japan LP

29 September 2023

India’s KIOCL temporarily shuts Mangalore pellet plant

Indian state-controlled iron ore pellet producer KIOCL has temporarily suspended operations at its 3.5mn t/yr pellet plant in Mangalore owing to an unavailability of iron ore fines and maintenance activities. The plant was shut down on 28 September at 5am IST (11:30pm GMT), the producer said, witho

29 September 2023

Australia’s QPM wins approvals for waste gas project

Australian battery metals refiner Queensland Pacific Metals (QPM) said it has received federal approvals for its proposed Northern Hub gas project in the Bowen basin region of central Queensland state. The firm's wholly-owned QPM Energy subsidiary has received the go-ahead under the federal E nviro

28 September 2023

Q&A: H2GS sees green steel premium potential

Swedish steelmaker H2 Green Steel (H2GS) is already seeing future customers willing to pay a premium for green steel amid a push to decarbonize the industry globally, according to chief technology officer Maria Persson Gulda . H2GS is working to build a 2.5mn metric tonnes (t)/yr green steel mill i

28 September 2023

Co-operation only way to achieve energy transition: IEA

Government ministers, mining companies, investors, and civil society representatives from around the world must co-operate more closely in order to meet rising demand for critical minerals as the energy transition gathers pace, delegates heard today at the International Energy Agency (IEA) Critical

28 September 2023

N Sea benchmark crude exports up in Nov, Sverdrup down

Combined loadings of the five local crude grades in the North Sea Dated basket are scheduled to increase by 7pc to a four-month high in November, boosted by deferrals. But exports of Norwegian grade Johan Sverdrup, the North Sea's biggest crude stream, will inch down. Loadings of benchmark grades F

28 September 2023

Spanish LNG sendout climbs as German demand rises

Spanish LNG sendout rose yesterday to its highest since 24 August and could remain strong today, spurred by robust import demand from Germany. Spanish sendout of 814GWh yesterday was the highest since late August, as pipeline exports to France rose to 106GWh, their highest since 3 July ( see sendou

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