Daily Update — August 11, 2026
Chinese Copper Smelters Increase Scrap Use; Low Rhine Water Levels; and Pushback on NC Data Center Power Plans
Today is Tuesday, August 11, 2026, and here’s your curated selection of Essential Intelligence on global markets from S&P Global. Subscribe to be notified of each new Daily Update.
Metals & Mining
China copper smelters turn to scrap as concentrate shortage deepens
China's refined copper producers increased their use of scrap-derived feedstocks in the first half of 2026 as the availability of copper concentrate tightened and spot processing charges fell further into negative territory. The shift highlights how structural changes in global copper supply chains are reshaping Chinese refining operations, potentially affecting concentrate prices and trade flows across Asia-Pacific markets.
This growing reliance on scrap comes as copper concentrate availability remains under severe strain. Treatment and refining charges, paid by miners to smelters for processing concentrate into metal, have fallen to record lows, reflecting increasingly tight concentrate supply.
Oil & Gas
Listen: When the river runs dry: how low Rhine water levels are reshaping Europe's oil market
The Rhine is one of Europe's most important trade arteries, carrying diesel, gasoil and other refined products from the Amsterdam-Rotterdam-Antwerp hub to consumers across Germany, Switzerland and beyond. As water levels fall toward historic lows, barges are carrying reduced loads, freight costs are surging and supply chains are coming under increasing pressure. Europe's energy industry is facing mounting logistical challenges that could disrupt the inland movement of fuel.
In this episode of the “Oil Markets” podcast, S&P Global Energy price reporters David Neef and Sophia Aung joined host Emma Kettley to explore how declining Rhine water levels are driving up freight costs, tightening supply chains and pressuring an already constrained diesel market.
Data Center
Amazon-Duke Energy diesel power plans for NC data center face legal pushback
Environmental attorneys and community groups urged North Carolina regulators to reject applications from Amazon Web Services and Duke Energy to operate diesel generators at a $10 billion data center to be built in Richmond County. The 21-building AI campus is among the largest corporate investments in state history.
Advocacy groups expressed concerns over how pollution from the combined 649 diesel generators would be accounted for under the Clean Air Act's New Source Review program. The debate centers on whether the permitting for such pollution should be split into two minor permits or consolidated under one major permit. Minor permits are quicker to obtain and come with fewer environmental reviews and requirements.
In case you missed it
- Ukrainian drone strikes have cut a third of Russia’s refining capacity, causing crude runs to fall to the lowest level in over two decades.
- Chinese mills have become more willing and able to reduce rebar production or shift crude steel output toward more profitable products if losses become excessive.
- Xpansiv has increased its footprint in nuclear-based emission-free energy certificates as the US voluntary carbon market and energy demand from data centers grow.
Upcoming events
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