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Turkish deepsea import scrap prices are expected to remain relatively firm over the first quarter of 2023, supported by tight supply, posing a continued challenge to Turkish steel mill margins, sources said. Platts assessed Turkish bulk imports of premium heavy melting scrap 1/2 (80:20) at $386.75/mt CFR Dec. 23, unchanged day on day. The assessment […]

Metals prices may claw back in 2023 as the US dollar weakens and the appetite for mergers and acquisitions in the metals space sharpens, according to producers’, analysts’ and economists’ views in the week of Dec. 19. Surprises may occur, but the overall sentiment is positive, according to Jefferies International. UBS and ActivTrades meanwhile see

The US oil and gas drilling rig count fell nine to 863 in the week ended Dec. 21, S&P Global Commodity Insights data showed Dec. 22. An eight-rig slide in the number of gas-focused drilling rigs to 184 comprised the bulk of the weekly decline, while the number of rigs chasing primarily oil dipped one

The Americas dirty tanker markets will continue to face a bullish yet uncertain 2023 as increased ton-mile demand induced by Russian oil sanctions couples with an ever-shifting crude demand landscape to drive tanker market direction. Freight for midsize tankers has been on an uptrend since February, as European crude buyers have shifted to sourcing Russian

India is expected to unveil new hydrogen and carbon market policies in 2023, key measures in shaping the country’s decarbonization future in the face of rising carbon emissions. Parliament passed the Energy Conservation (Amendment) Bill 2022 on Dec. 12, providing a legal framework for both instruments. “This is a major step for our energy transition,”

European negotiators agreed to reform of the EU’s Emissions Trading System on Dec. 18, increasing carbon cutting ambitions to 2030, detailing the removal of free allowances and confirming the inclusion of maritime shipping and a new ETS II for buildings and transport. The headline agreement requires the ETS’ 10,000 covered installations to reduce their carbon

The US steel sheet market will look to establish new footing in 2023 after prices took a nosedive in the second half of 2022. However, concerns of a weaker economy, sufficient inventory levels and uncertain demand outlooks are weighing on the market’s potential upside for next year. The Platts TSI US hot-rolled coil (HRC) index

As TC Energy works to fully restart its 591,000 b/d Keystone Pipeline System after a spill discovered late Dec. 7 forced it to shut down, the operator is also facing questions from lawmakers demanding accountability and assurances on remediation and spill prevention plans. The latest leak on Keystone, which primarily carries heavy Canadian crude oil

Natural gas production in the Bakken shale of Montana, North Dakota and parts of Canada declined Dec. 19 to levels not seen in the month of December in nearly five years, with sub-zero temperatures and snow blanketing oil and gas producers in the play. Gas production in the Bakken averaged 1.46 Bcf/d Dec. 19, the

The New Zealand government updated Dec. 15 the country’s Emissions Trading Scheme (ETS) carbon allowance price and volume settings for 2023 to levels significantly lower than as advised by its national climate body. The Climate Change Commission (CCC), an independent body tasked with advising the government on climate policy, had recommended in July a steep