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Tag Archives: EU

Sluggish global steel demand pressures iron ore, met coal prices

Global steel mill margins have shrunk in 2019, in turn pushing down iron ore and coke consumption and prices for coking coal. In 2018 Platts benchmark US hot rolled coil (HRC) spot prices exceeded $1000/mt delivered Midwest for the first time since 2008, and the sustained run in steel pricing and demand since 2016 delivered high profits for steel producers.   High global steel prices last year have quickly been forgotten, as offtake from steel buyers in the US and Europe reduced into...

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Commodity Tracker: 4 charts to watch this week

An upcoming decision on Dutch gas output will be significant for European wholesale markets, while in bunker markets the impact of IMO 2020 is being felt in differentials between high and low sulfur marine fuels. S&P Global Platts editors delve into key energy trends for the week ahead. 1. EU gas markets await decision on Groningen production quota   What’s happening? The Dutch economy ministry is expected to shed light on future production limits on the giant Groningen gas...

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Insight from Brussels: EU gas sector pins hopes on ‘green tags’ to face low-carbon future

Trading tags guaranteeing renewable or low-carbon properties could be a key way to secure the EU gas industry’s long-term future in a decarbonized energy system. The EU will soon consider enshrining a 2050 net-zero emissions goal into law, after the European Commission’s president-elect, Ursula von der Leyen, promised to propose this by early 2020. A net-zero commitment is a step up from the current EU goal to cut emissions by at least 80% on 1990 levels. Von der Leyen promised to focus on...

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Commodity Tracker: 5 charts to watch this week

Economic indicators spell potential trouble for oil demand, while US gas producers and exporters are feeling the pressure from oversupply on both the domestic and global markets, S&P Global Platts editors explain in our weekly selection of big commodities trends to watch. 1. US treasury yield curve a warning sign for oil demand   What’s happening? The difference between long-term and short-term interest rates, or the slope of the yield curve, has borne a consistent negative...

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As demand for “green” power soars, utilities turn to Guarantees of Origin

Businesses and consumers are becoming more picky about the origin of their electricity supply, motivated by a growing sense of urgency to act on climate change. European utilities have noted a strong rise in demand for green electricity – that is, electricity from renewable sources. An important part of the response has been the use of Guarantees of Origin (GOs) – tradable tags that certify the provenance of power supply, down to quite specific details of the generation technology involved...

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Auto sector targets EV charging infrastructure in bid to speed growth

With more auto makers investing big in the electric vehicle space, consumers and forecasters continue to fret over the ability to actually charge these shiny new cars. Worries about the distance a battery can power a vehicle before needing to be plugged in – sometimes referred to as “range anxiety” – have been viewed as one of the major obstacles to growing EVs’ share of the transport market. But with more announcements on investment in charging, there are signs that that the auto industry –...

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Europe, US aim to boost ethanol share in gasoline, but obstacles remain

Ambitious emissions targets are driving governments across the globe to mandate greater use of biofuels in gasoline, and higher-ethanol blends of gasoline look set to make further inroads in the EU in the coming year. Electric vehicles and hybrids have dominated headlines and are frequently portrayed as the answer to cutting road transport emissions. But even if all new cars purchased from now on were electric, it would still take several decades before the entire fleet was renewed. Although...

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UK needs fuel tax reform to pave way for mass EV adoption

The UK wants to be a world leader in the fight against climate change. Committing to reduce greenhouse gas emissions to almost zero by 2050 is an admirable but expensive and difficult goal to achieve. Counter-intuitively, cutting taxes on fossil fuels now may be a better place to start than continuing to milk dry the majority of road users until they are forced into electric cars. One idea could be to abolish fuel duty all together and instead levy a single charge for vehicle road use, which...

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US promotes ‘freedom gas’ but prices, not politicians, drive LNG flows

The US is describing its growing LNG exports as “freedom gas”, giving America’s allies “a diverse and affordable” clean energy source, but prices, not politicians, will decide where that LNG flows. The message about diversified supplies plays particularly well in Europe, where the European Commission wants to ensure dominant gas supplier Russia faces credible competition across all markets, not just at the developed hubs in the northwest. Russia’s planned 55 Bcm/year Nord Stream 2 gas...

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EU repeal of US ethanol antidumping levy raises environmental questions

The EU’s repeal of antidumping duties on imports of US ethanol in mid-May could pave the way for increased shipments to Europe of the biofuel. European ethanol producers have raised concerns over the environmental impact of increased imports, but deeper questions over the sustainability of biofuels remain unanswered. The European ethanol association, ePURE, voiced concerns over the harmful impact of the decision on European ethanol producers, especially as other destinations for US ethanol...

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