The essential perspective on global commodities
Japan has taken a major step towards decarbonizing 120 GW of fossil fuel-based power generation sources accounting for nearly two-thirds of its installed capacity, with the first wave of 9.77 GW of decarbonized power auctions. The long-term decarbonization power supply auction, operated by the Organization for Cross-regional Coordination of Transmission Operators (OCCTO) which comprises all power companies in Japan, comes in the backdrop of the need to decarbonize power for...
In oil, OPEC+ agreed to extend the bloc's voluntary crude production cuts before gradually bringing barrels back to the market. In other news, container rates increase amid Asian port congestions. Additionally, S&P Global Commodity Insights editors are focusing on US battery storage capacity and African LNG exports. 1. OPEC+ agrees to scale back voluntary crude output cuts in Q4 What's happening? OPEC+ ministers agreed a deal June 2 to extend their 2
India is the world's second-largest consumer of iron ore. But in recent years, it has also stepped up its exports. In 2023, it shipped 45.3 million mt or iron ore, marking a 183% rise on the year. About 95% of those exports went to China. Higher exports have led to price volatility in India's domestic markets, pressuring small-scale operations and have pushed secondary steelmakers to call for a ban on low-grade iron ore exports
