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US against EU push to censure Iran for nuclear activity

  • : Electricity, Metals
  • 24/05/27

US president Joe Biden's administration is opposing a European push — spearheaded by France — to rebuke Iran for advances in its nuclear program at the UN nuclear watchdog the IAEA's board of governors meeting in June, a diplomatic source with knowledge of the matter told Argus.

"The US isn't enthused about the European effort to censure Iran at the IAEA's member state board meeting in early June," the diplomat said. "But there is a general European atmosphere that is exploring options and measures regarding Iran's nuclear program."

The Biden administration is concerned about the need to manage tensions with Tehran, particularly at what is a highly sensitive moment, the source said.

"Bear in mind, this board of governors meeting is happening around 10 days after the helicopter crash killed (Iran's president Ebrahim) Raisi and (foreign minister Hossein) Amir-Abdollahian" both of whom were primary interlocutors with IAEA director General Rafael Grossi on the nuclear file, the source said.

"There is currently a vacuum in Tehran. Timing is bad," the source said, explaining the US position.

A US State Department spokesman could not be reached for immediate comment.

Concerns among western officials have grown over Iran's nuclear activity in recent years. Former US president Donald Trump in 2018 pulled the US out of a 2015 nuclear deal, resulting in an erosion of strict limits that the agreement had placed on Iran's nuclear program.

Iran, in 2019, began breaching the restrictions and then pushed far beyond them. Tehran has enough highly enriched fissile material for three nuclear weapons, according to the IAEA. Iran is enriching uranium to up to 60pc purity, close to the near 90pc considered to be weapons grade, according to the IAEA.

Grossi in March said inspections in Iran were not what they should have been and called for additional monitoring capabilities, given the depth and breadth of the program.

"On Iran, recent negative developments haven't gone unnoticed. Nuclear threats by Iranian officials, and Grossi's recent interview all sent negative signals," the source said.

The Biden administration has always maintained that it is seeking a diplomatic solution for Iran's nuclear program. And since the conflict between the Gaza-based Palestinian militant group Hamas, backed by Iran, and Israel broke out, the US has attempted to stop the spillover of the conflict into the wider region.

US and Iranian officials have met at least twice for indirect talks in Oman this year.

What are the options?

"There is real concern nowadays within the international community that no one exactly knows where Iran is at the moment when it comes to nuclear enrichment," the source says. The IAEA has lost its "continuity of knowledge" in relation to the production and inventory of centrifuges, rotors and bellows, heavy water and uranium ore concentrate.

"But the options are limited," the source said. The most the IAEA can do if a state is out of compliance with its obligations under the Non-Proliferation Treaty Safeguards Agreement is to report its concerns to the UN Security Council.

Since June 2020, The IAEA's board of governors has adopted three resolutions regarding Iran's cooperation regarding the non-proliferation agreement.

"Two reports are to be published ahead of the meeting in June. Their outcome will set the scene on whether another resolution will adopted or not," the source said.


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25/07/09

Japan’s crude steel output to fall in Jul-Sep: Meti

Japan’s crude steel output to fall in Jul-Sep: Meti

Tokyo, 9 July (Argus) — Japan's crude steel output is likely to fall in July-September from a year earlier because of persistently weak demand in both domestic and export markets, the country's trade and industry ministry (Meti) said. Meti expects output to drop by 2.3pc over the period to 20.1mn t, it said in its quarterly forecast released on 8 July. Output is likely to remain stable from April-June. The projected year-on-year output decline is the result of persistently weak demand from key domestic steel-consuming sectors, including automobiles and construction, Meti said. "The situation has not changed significantly from the previous quarter ", a Meti official told Argus . Demand for ordinary steel products from the automobile sector is forecast to increase by 1.9pc on the year to 2.4mn t in the quarter. But Meti characterised this as only a "slight increase", despite it being a higher year-on-year growth rate in comparison with other sectors. Meti had anticipated a strong rebound in the automobile sector, and consequently steel demand, after some car producers resumed operations. The auto manufacturers had suspended operations for up to six months in 2024 following alleged false reporting of safety tests results. Some car producers remain cautious about pushing to ramp up output, the Meti official told Argus , without naming any companies. This is because some carmakers are prioritising quality over quantity, Meti suggested, possibly to avoid a repeat of past safety scandals. Japan's largest domestic car producer Toyota was among those that halted production because of safety issues in mid-2024. Toyota said it has since focused on building a solid foundation for production to enhance safety and quality. Steel demand from the construction sector remains under pressure from a labour shortage and rising material costs, according to Meti. This is likely to cap ordinary steel demand from the sector at 3.9mn t, a similar output level to the same period last year. External markets Japan's steel exports are also projected to decline, with shipments expected to fall by 11.5pc on the year to 6.1mn t in July-September, Meti said. Meti attributed the drop to an influx of low-cost Chinese steel products, which continue to flood key export markets including southeast Asia. Japanese steel producers are reluctant to lower their selling prices to compete with cheaper, non-value-added items, the Meti official added. Meanwhile, the blanket 50pc tariff imposed by the US on imports of steel is unlikely to have a significant impact on domestic crude steel output, at least until September, the Meti official said. This is largely because many of the Japanese steel products imported by US customers cannot be easily replaced with domestic products, the Meti official said. Meti's optimism comes despite some Japanese steel producers struggling to maintain stable business with US clients following Washington's decision to double its sweeping import tariffs on steel to 50pc from 4 June. By Yusuke Maekawa Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

Japan’s 75MW Sodegaura biomass power plant starts up


25/07/09
25/07/09

Japan’s 75MW Sodegaura biomass power plant starts up

Tokyo, 9 July (Argus) — The 75MW Sodegaura biomass-fired power plant started commercial operations on 8 July, after it was delayed from coming on line because of a silo fire in January 2023. The plant in eastern Japan's Chiba prefecture is operated by Japanese gas company Osaka Gas' subsidiary Daigas Gas and Power Solution, and burns around 300,000 t/yr of wood pellets, mainly imported from southeast Asia. It is designed to generate up to 520GWh/yr of electricity, which will be sold under Japan's feed-in-tariff (FiT) scheme at ¥24/kWh (16¢/kWh). The plant was previously scheduled to come on line in February 2023, but the start-up was delayed by a fire in January that year . The fire happened during test runs at the plant, and the cause was likely the self-heating of wood pellets stored for more than six months in two silos. Osaka Gas only managed to put the fire out completely in May 2023, and finished removing all remaining wood pellets from the silos in April 2024, as the pellets had absorbed sprayed water and swelled. The company has put in place safety measures after the incident. Osaka Gas also operates the 75MW Hirohata biomass-fired power plant in Japan. The company also plans to start commercial operations at the 50MW Gobo plant in September this year. By Takeshi Maeda Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

Heatwave eats into Japanese utilities’ LNG stocks


25/07/09
25/07/09

Heatwave eats into Japanese utilities’ LNG stocks

Osaka, 9 July (Argus) — LNG inventories at Japan's main power utilities fell for the second consecutive week during the week to 6 July, as hotter than normal weather boosted electricity demand for cooling and increased gas-fired generation. The utilities held 2mn t of LNG inventories on 6 July, down by 7pc from a week earlier and by 12pc from the recent high of 2.27mn t on 22 June, according to a weekly survey by the trade and industry ministry Meti. But the latest volume was almost in line with the 1.99mn t recorded for 7 July 2024. A large part of Japan has experienced unusually hot weather since the middle of June, with the country's environment ministry, together with the Japan Meteorological Agency, occasionally issuing heatstroke alerts. This boosted the country's power demand to an average of 113GW during the 30 June-6 July period, up by 10pc on the week and by 7pc from a year earlier, according to the Organisation for Cross-regional Co-ordination of Transmission Operators (Occto). Firm electricity demand encouraged power producers to raise gas-fired output by 9.1pc on the week to an average of 36GW during the week to 6 July, the Occto data showed. Coal- and oil-fired generation also rose by 22pc to 31GW and 49pc to 1GW, respectively. Generation economics for Japan's gas-fired power plants improved with higher wholesale electricity prices, which was supported by stronger bidding demand. Margins from a 58pc-efficent gas-fired unit running on spot LNG averaged ¥2.82/kWh ($19.18/MWh) across 30 June-6 July, up from the previous week's ¥0.88/KWh, based on the ANEA — the Argus assessment for spot LNG deliveries to northeast Asia — and Japan Electric Power Exchange' systemwide prices. The 58pc spark spread using oil-priced LNG supplies also rose by 35pc to an average of ¥3.90/kWh. By Motoko Hasegawa Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

US to impose 50pc tariff on copper imports


25/07/08
25/07/08

US to impose 50pc tariff on copper imports

Houston, 8 July (Argus) — US President Donald Trump said today the US will impose a 50pc tariff on copper imports, with implementation expected by the end of July or early August. During a cabinet meeting on Tuesday, Trump listed a number of tariffs he has imposed since taking office, saying "today we're doing copper" with a 50pc rate. In a broadcast interview with CNBC, commerce secretary Howard Lutnick said the tariff would likely be put in place by the end of July or 1 August. Following Trump's announcement, the next active Comex (CME) price rose to a record high of $5.6855/lb, a $0.6595/lb or 13pc increase from $5.026/lb on Monday. The last record was set 26 March at $5.243/lb. Copper and its derivatives have been exempt from added US tariffs , as the Department of Commerce conducts its Section 232 investigation into copper imports . Determinations from the probe were expected by the end of November, but Lutnick said in the broadcast interview today the US was done with the study. The US imported 1.7mn metric tonnes (t) of copper and its derivatives in 2024, according to customs data. By Reagan Patrowicz Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

Immigration raids pressure south Texas scrap flows


25/07/08
25/07/08

Immigration raids pressure south Texas scrap flows

Houston, 8 July (Argus) — South Texas ferrous scrap yards are facing inflow headwinds as increased efforts by US immigration officials to detain and deport non-citizens affect peddler traffic and the labor force. Several market participants speaking to Argus on condition of anonymity have reported a steep decrease in scrap inflows along the US-Mexico border in Texas since the start of President Donald Trump's second term in mid-January due to raids by US Immigration and Customs Enforcement (ICE) agents. Sources surveyed by Argus estimated a 25-50pc reduction in scrap being sold to yards in south Texas as a result of the raids, but they struggled to provide a more specific volume of scrap not delivered. Peddler traffic — scrap sold to yards by the public — accounts for a considerable percentage of material acquired by yards in the region, a market participant said. Sources said that many peddlers, as well as some workers at yards, are non-citizens and risk deportation if detained by ICE. The reduction in scrap flows is much larger than what would be seen from peddlers and yard workers who have been detained by ICE or the US Customs and Border Protection agency, they said, and is likely the result of a wider pull back from peddlers, nervous over the risk detention and deportation. Several yards reliant on peddler traffic or undocumented labor have shut in recent weeks, sources familiar with the matter said. ICE has been raiding communities along the border since early in the year when President Donald Trump started his second term. The recently-passed US budget bill allocated $45bn to, in part, hiring "thousands" of new ICE and Border Protection agents. It is unclear how much scrap is sold to US scrap yards by sellers who lack US citizenship, but continued pressure on those sellers and undocumented workers could cause supply tightness and labor shortages in south Texas yards. The monthly Texas ferrous scrap trade is expected to settle today, with several mills bidding all grades flat from June settlements. By Marialuisa Rincon Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

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