State planner: China will continue to build coal plants until 2027.
According to guidelines released by the government on Monday for upgrading the coal power grid, China will continue to build coal-fired plants in areas where they are required to meet peak demand or stabilize the grid. This policy could raise questions regarding China's commitment in phasing out coal usage during the period 2026-2030, even though it states that new coal projects are a backup for renewable energy whose output is dependent on sun and wind conditions.
Stocks of tech and bank companies plummet as China's retaliation fuels fears of a wider trade war
U.S. tech giants, banks, and oil majors all fell on Friday, after China responded to Trump's new tariffs by imposing steep duties. This heightened fears of an economic recession around the world. China has imposed additional duties of 34 percent on U.S. products, which will take effect on April 10. China also announced a ban on the export of certain rare-earths, and added a number of U.S. companies to its "unreliable entity" list. This allows Beijing to take punitive measures. On Wednesday, U.S.
Shell warns that Australia's gas reservations plan could worsen shortages
Shell warned Tuesday that Australia's proposal to force more gas from export onto the domestic market would end up discouraging investment and worsening shortages. Energy has become a major issue in the campaign ahead of Australia's general election on May 3. The conservative Liberal-National Coalition pledged to lower power bills and avoid a shortage on the East Coast through a reservation scheme. Shell Australia Chair Cecile wake said that export controls are not the best solution. She also questioned if they would have a material impact on consumer prices.
UK shares drop after Trump announces tariff escalation
UK shares fell Monday, after U.S. president Donald Trump said that his tariffs will cover all countries. This intensified a global trade conflict. The blue-chip FTSE 100 fell 1% as of 1011 GMT; the midcap FTSE 250 index dropped 1.9% to a more-than-eleven-month low. Trump told reporters that the tariffs will affect essentially all countries. He will announce reciprocal tariffs Wednesday and auto levies Thursday. Specifics are still unclear. According to Downing Street…
Wood Group UK flags problems within its Projects Unit, Shares Slump
Wood Group, a British engineering and oilfield services company, said that it has identified "material failures and weaknesses" in its financial cultures within its Projects Business Unit following an independent Deloitte review. Early trade saw shares of the company fall about 25%. They have fallen about 68% since November's announcement. In November of last year, the company, which is a target for Sidara in Dubai, announced that it would be conducting an independent review after the unusual charges noted at its interim results.
NEO Energy and Repsol to Merge UK Oil and Gas Assets
NEO Energy and Repsol Resources UK have entered into strategic merger, creating one of the largest U.K. North Sea independent oil and gas companies under the name of NEO NEXT.Under the terms of the transaction, the combined business will be jointly owned by NEO (55%) and Repsol UK (45%) and will have a large and diverse asset portfolio which is expected to generate material cashflows and provide a platform for organic and inorganic growth.Repsol will retain $1.8 billion of the decommissioning liabilities related to its legacy assets…
Uzbekistan introduces tariffs on raw material exports before joining WTO
The Uzbek Tax Committee announced that Uzbekistan would introduce export duties for 86 raw materials including natural gas and cotton fibres, silk, wheat, copper, and wheat in preparation for its application to join the World Trade Organization. The new measure will be effective on July 1. It is intended to improve Uzbekistan’s export regulations and to encourage local producers, Azizbek Urunov said Tuesday. Uzbekistan considered joining the WTO almost 30 years ago, but recently the Uzbek Government has intensified its negotiations and plans to join in 2026.
Commonwealth LNG sees new interest after securing export license
The owner of the Commonwealth LNG project said that the interest in the project has increased since the export license was granted by the Trump administration last month. In February, the U.S. Department of Energy approved an LNG export license for the Commonwealth LNG project located in Louisiana. This was the first LNG export approval since former President Joe Biden had halted exports early last year to allow for environmental reviews. The approval took away a lot risks for buyers…
Russell: China's commodity imports will continue to decline until 2025 due to economic and trade concerns
China's imports have been weak in 2025. This is in line with the recent trend of a softer economy. According to data released by the official customs on Friday, imports of crude, natural gas and iron ore, as well as copper, have all decreased in the first half of this year when compared to the same period of last year. The January-February period saw a rise in coal imports compared with the same period of 2024. However, the figures were significantly lower than in November and Decemeber, indicating that China's appetite is decreasing for the fuel.
Russell: China's commodity imports will continue to decline until 2025 due to economic and trade concerns
China's imports have been weak in 2025. This is in line with the recent trend of a softer economy. According to data released by the official customs on Friday, imports of crude, natural gas and iron ore, as well as copper, have all decreased in the first half of this year when compared to the same period of last year. The January-February period saw a rise in coal imports compared with the same period of 2024. However, the figures were significantly lower than in November and Decemeber, which suggests that China is losing interest in this fuel.
Sources: ERG declares force majeure for cobalt supplies from Congo
Two sources with knowledge of the situation said that Eurasian Resources Group has declared force majeure for deliveries of cobalt battery material from its Metalkol operations due to the temporary export ban by the Democratic Republic of Congo. ERG is the largest cobalt producer in Congo. This is also the top mineral producing country worldwide for the production of lithium-ion battery powering electric vehicles. One source said that the Luxembourg-based firm had to declare force majore…
Trump orders new tariff probe into US copper imports
The President Donald Trump launched a new front in his attack on global trade norms on Tuesday, ordering an investigation into possible new tariffs on imports of copper to rebuild U.S. manufacturing of a critical metal for electric vehicles, military equipment, the power grid, and consumer goods. In an effort to stop what his advisors viewed as China's move to dominate the copper market in the world, Trump signed at the White House an order directing Commerce Secretary Howard Lutnick…
Berlin is urged to act quickly by corporate bosses on the weak economy
German business leaders called for Berlin to quickly form a new Government on Monday, warning that Europe's largest economy cannot afford to waste time while companies are suffering from high costs and red tape, as well as increased competition from abroad. The CDU/CSU won the Sunday national elections, clearing the way for a new coalition government with the Social Democrats. This eased concerns about a potentially more fractured three-way system and prompted the corporate call to the parties to act quickly.
BHP and Rio Tinto discuss energy transition; bet on minimal Trump impact: Russell
BHP Group, Rio Tinto and other mining giants have delivered similar results and outlooks this week for commodities. They chose to focus on the benefits of the energy transformation and minimise short-term risk. BHP, world's largest mining company, announced on Tuesday that its underlying profit attributable for the six-month period ending December 2024 had dropped by 23% to $5.08 billion. Rio, the largest iron ore mining company in the world, announced underlying earnings for 2024 of $10.87 Billion, down from $11.76 Billion a year earlier.
Japan has a plan to make green steel work.
The energy transition is a major challenge, and one of them is decarbonising steel production. This is especially true when consumers around the world are unwilling to pay more money for greener steel products. In order to achieve this, government policies and regulations will likely be used to set prices in a sector that is responsible for 8% of the global carbon emissions. It is a debate about which policies will produce the fastest and best results.
Japan has a plan to make green steel work.
The energy transition is a major challenge, and one of them is decarbonising steel production. This is especially true when consumers around the world are unwilling to pay a premium for greener steel products. In order to achieve this, government policies and regulations will likely be used to set prices in a sector that is responsible for 8% of the global carbon emissions. It is a debate about which policies will produce the fastest and best results.
Freeport to resume copper concentrate imports from Indonesia in this month, say sources
Freeport McMoRan will resume copper concentrate shipments from Indonesia in this month, under a newly issued export licence. The previous one expired in December. Indonesia has limited raw material exports in order to force companies to refine minerals and add value to their exports. Freeport, which has its own local refinery capacity, is trying to maintain exports of concentrate after a fire at the Manyar smelter in East Java last October. According to a source who has direct knowledge of the situation…
India reviews tariff surcharges on luxury goods, renewables and chemicals amid US pressure
India will review the import tariffs for over 30 items, including luxury cars and photovoltaic cells. This could lead to a rise in imports from America, according to a senior official at the finance ministry. To counteract President Donald Trump's increasing tariff actions, the Government has already reduced the tariffs on several products, including high-end cars, bikes, and chemicals, in the latest Budget. However, it has imposed an additional Agriculture Infrastructure Development Cess, which is an alternative tariff on many items.
ADM announces layoffs after quarterly profits fall due to weak crushing margins
Grains merchant Archer-Daniels-Midland reported a drop in fourth-quarter profit on Tuesday, pressured by weak oilseed crush margins and uncertainty over U.S. biofuel policy, and said it would be laying off up to 700 employees globally this year. ADM, a Chicago-based company, said that it would aim to reduce costs by $500 to $750 millions over the next 3 to 5 years through job cuts as well as lower raw material and manufacturing costs. In premarket trading, shares of the company fell 1.6%.
Africa's biggest copper countries are focusing on trade profits
Africa's largest copper producers, Democratic Republic of Congo (DRC) and Zambia (Zambia), are working to get exposure to metal trading, as the surge in demand linked to artificial intelligent and the move to greener energy promises big profits. Metals trading is a long-standing domain of international trading companies, like Glencore. Congo and Zambia which represent together more than 13% global copper supply have increased their focus over the past year on securing an share of the mined material that they can also trade for profit.
