Satellites reveal major new gas industry methane leaks

satellite-planet-earth1-scaled.jpg

Last year, European Space Agency satellites detected huge plumes of the invisible planet-warming gas methane leaking from the Yamal pipeline that carries natural gas from Siberia to Europe. Energy consultancy Kayrros estimated one leak was spewing out 93 tonnes of methane every hour, meaning the daily emissions from the leakage were equivalent to the amount […]

Read more

Worldsteel predicts lower productivity and an extended production cycle for different geographies

steel-pipes.jpg

As most countries have been gradually reopening from their lockdowns since mid-May, recovery of economic activities is expected in the third quarter, claims the recently released Short Range Outlook (SRO) report for 2020 and 2021 by Wordsteel. Even though all steel-using sectors are affected by the lockdown measures, the mechanical machinery and automotive sectors are […]

Read more

Implications for key commodities high after Hong Kong vote; India hit by locusts, rising farm wages

46946546081_8a317d2704_o.jpg

While relations were already fraying between the United States and China as a result of the coronavirus outbreak, Beijing’s vote this week to end Hong Kong’s autonomy may serve as a key turning point in relations between the two economic powerhouses. In response to China’s action, Secretary of State Mike Pompeo said that Hong Kong […]

Read more

Reverberations of the first quarter debacles over the pandemic still being felt

Over the first quarter of 2020, COVID-19 has developed from an emerging threat to a transformational reality with potentially long-lasting effects on economic growth. All optimism for commodity markets at the start of the year was quickly extinguished as the coronavirus emerged in Wuhan, China. Prices have been dragged down further by dire market fundamentals […]

Read more

Recovery in global steel production on the horizon

A recovery in worldwide steel production depends, primarily, on an upturn in market demand. The authorities in many countries are starting to gradually ease their lockdown restrictions. The potential exists for steel-intensive industries to rebound faster, at least initially, compared with a number of tertiary sectors, such as hospitality and retail. Automation in modern manufacturing […]

Read more

MEPS predicts 75 million tonnes shortfall in global steel production in 2020 due to the pandemic

Intranet-tata-steel-construction-corby-CORBY-4771.jpg

UK-based MEPS forecasts that global crude steel production will fall to 1.8 billion tonnes, in 2020. This equates to a reduction of 75 million tonnes, compared with the figure recorded in the previous year. Early indications suggested that 2020 would be a year of modest economic recovery. Activity had been trending downwards since the zenith […]

Read more