(Bloomberg) The world’s steelmakers need a makeover. Their industry is one of the dirtiest, and it’s blamed for about 7% of global carbon emissions. The biggest producers essentially rely on the same manufacturing processes they used a century ago, and now they face a reckoning.
(Bloomberg) Base metals are rocketing toward all-time highs as the global energy crisis crimps supply from China to Europe, threatening more inflationary pressure from rising commodity prices.
(Bloomberg) Iron ore futures extended gains as improved rebar margins at Chinese steel mills buoyed demand prospects.
Prices jumped 10% in Singapore, taking the raw material’s surge since a low in September to about 50%.
(Bloomberg) China will allow higher power prices in its most dramatic reform in years in a bid to ease a worsening energy crunch that’s a threat to its economy.