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Indonesia is assessing potential investments in Australian and African mining projects to support its own electrification as well as its plan to become a major exporter of electric vehicles and their batteries. Indonesia aims to have 13 million electric motorcycles and 2 million electric cars on its roads by 2030 on its way to being […]

Global commodity markets are facing increased price volatility in the coming years as lingering geopolitical concerns and the rush to low-carbon energy continues to stress supply-demand fundamentals, Christophe Salmon, the chief financial officer of independent trader Trafigura, said March 22. Most global commodity traders enjoyed a third straight year of record earnings in 2022 after

Crude futures settled higher for the second consecutive day March 21, rebounding from a recent selloff on renewed optimism that the financial crisis has been contained, and that lower prices might tighten supplies. NYMEX front-month crude settled $1.69 higher at $69.33/b, while ICE front-month Brent settled up $1.53 at $75.32/b. In refined products, NYMEX front-month

China’s steel scrap imports may not be able to go past the 1 million mt mark in 2023 because of higher quality standards that limit available supplies, analysts said March 24. In 2022, China imported 558,900 mt of recycled steel materials, up just 0.6% on the year, according to the latest customs data. Japan was

Saudi Arabia’s hydrocarbon sector will benefit from curtailed Western demand for Russian crude due to sanctions and price caps, and the lifting of COVID-19 restrictions in China, spurring demand for non-Russian energy products, according to S&P Global Ratings. “Since the war in Ukraine began in February 2022, demand for Saudi hydrocarbons and petrochemicals has strengthened,

As much as $250 billion in mine investments could be needed by 2030 to meet heightened demand for copper resulting from the energy transition, Vandita Pant, chief commercial officer of miner BHP, told the FT Commodities Global Summit March 21. “We think that a quarter of a trillion dollars of capex may be needed between

Oil traders were weighing the prospect March 20 of a new global banking crisis similar to 2008 hitting hydrocarbons demand, but a backwardated market structure signals prices could be more resilient to financial turmoil. The sudden collapse of Silicon Valley Bank in the US and emergency takeover of Credit Suisse with the help of Switzerland’s

Independent energy trading house Vitol on March 20 flagged economic risks to energy markets but still expects global oil demand to grow by 2 million b/d this year and continue expanding until 2030. Vitol, the world’s biggest independent oil trader, said it still expects Chinese reopening and aviation sector demand to support oil demand growth

Japan and Germany have agreed to cooperate in the area of critical global supply chains, including on clean energy, hydrogen and battery, for energy transition, and recognized the importance of “taking various and practical pathways” for climate change. The agreement was reached March 18 at the first round of Inter-Governmental Consultations, co-chaired by Japanese Prime

The Inflation Reduction Act will significantly decrease carbon dioxide emissions from the electric power sector, but it will have a smaller impact on emissions from the energy sector as a whole and provide only a small boost in electric vehicle uptake by 2050, according to the Energy Information Administration. Without the IRA, electric sector CO2