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Lockdowns to limit the spread of COVID-19 in China, especially in Shanghai, disrupted the supply chains of vehicle makers, who were already dealing with a shortage of semiconductor chips. Market projections became more uncertain after Russia invaded Ukraine , as the latter was a key supplier of wire harnesses for vehicles to several European automakers
Direct-reduced iron and its more transportable sister hot-briquetted iron have dallied in the wings of mainstream steelmaking as high-quality and low-residual furnace inputs for nearly 60 years. Suddenly the two have swept center stage for holding the key to steel decarbonization
The West’s boycott of Russian barrels will be the oil market’s ultimate test. While it has an impressive record of adapting to unthinkable shifts in trade patterns, from self-imposed embargoes on US exports to sanctions on Iranian and Venezuelan crude, the stakes, and costs, have never been higher. The market is already doing what it does best in bringing new buyers and sellers together and boosting existing relationships, but at a magnitude rarely seen before
