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The US will apply a 200% ad valorem tariff on imports of aluminum and derivative aluminum articles from Russia beginning on March 10 as it continues to increase pressure on Russia’s economy in response to its continued invasion of Ukraine, the White House said Feb. 24. “The Russian aluminum industry is a key part of […]

The EU’s Carbon Border Adjustment Mechanism is set to have far-reaching impacts on world trade and the wider energy transition. Phasing in from 2026, CBAM will levy a carbon tax on imports of selected energy intensive materials and products into the EU, removing the gap between the EU’s ETS carbon price and the export country

Bitcoin miners flocking to Texas are claiming that their operations are helping the grid add off-peak load capacities that are helping renewable energy projects find more profitability in the Electric Reliability Council of Texas, miners said during the ERCOT Market Summit 2023. The emergence of crypto mining in Texas has coincided with a rise of

Environmental commodity markets could be in for a shock as the Greenhouse Gas Protocol — the global standard-setter on carbon emissions accounting — prepares to revise its rules. The organization’s guidance is used by almost all entities that report emissions. Its rules have created a booming market for environmental certificates bought by companies to bolster

Freeport’s return to producing LNG and exporting cargoes marked the end of the biggest outage in US LNG export history, a milestone for US natural gas that led to widespread market impacts and illustrated the importance of a US LNG terminal as a cog in the global energy system. The unexpected shutdown of the Freeport

International energy and commodity markets face more uncertainty as Russia escalates its war in Ukraine , raising concerns of ongoing supply risks, sanctions and another year of volatile prices. Analysts expect significant discounts on Russian oil to continue and the country’s crude production to fall, as the latest restrictions on some oil imports to the

China has started buying Australian coal this month, signaling the end of an unofficial ban that ran for over two years, according to market sources and S&P Global Commodity Insights data. S&P Global reported last month that three Chinese state-owned power plants — China Datang Corp., China Huaneng Group Co and China Energy Investment Corp.

Despite demand not returning to pre-pandemic levels, there is positive sentiment in the Mexican steel market based on opportunities such as the current wave of nearshoring and the country’s deficit of steel products, according to Antonio Chabrand, treasury officer at Conadiac, which represents Mexican steel service centers and distributors. “Nearshoring has not been capitalized as

New investments in the US offshore wind market more than tripled year on year to $9.8 billion in 2022 and going forward the Inflation Reduction Act will drive alternative uses of offshore wind power, according to the Business Network for Offshore Wind’s annual US Offshore Wind Market Report released Feb. 21. The federal government held

US-based PVC and polyethylene producer Westlake has seen a moderate uptick in demand for those products in early 2023, prompting cautious optimism as inflation rates and continued geopolitical pressures weigh on consumer spending, CEO Albert Chao said Feb. 21. “Looking ahead, while uncertainties remain in the macroeconomic outlook, we believe some positive trends are appearing,”