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A five-year delay to the energy transition could see the global average temperature rise to 3°C above pre-industrial levels.
The rise of electric-arc furnace technology, increased use of green feedstock and evolving carbon policies will reshape steel production and global trade patterns.
Wood Mackenzie, a portfolio company of Veritas Capital, has appointed Simon Crowe to its global executive leadership team as Chief Financial Officer (CFO), effective 27th March.
Veritas Capital (“Veritas”), a leading investor at the intersection of technology and government, today announced that an affiliate of Veritas has completed the purchase of Wood Mackenzie from Verisk (Nasdaq: VRSK).
Decarbonising the steel and iron ore industry by 2050, in line with the Paris Climate Agreement, will require US$1.4 trillion of investment and revolution across every stage of the value chain. This presents an urgent challenge and enormous opportunity according to Wood Mackenzie’s latest Horizons research report, Pedal to the metal: Iron and steel’s $1.4 trillion shot at decarbonisation.
War in Ukraine is transforming the outlook for the supply, demand and price of hydrocarbons and the pace and cost of the energy transition. While the precise timing and implementation of future bans on Russian commodity imports are difficult to predict, a rewriting of energy trade flows is now underway.
While recycling can relieve some pressure from the supply deficit of battery raw materials, it will not be able to meet demand, says Wood Mackenzie.
Steel industry’s carbon emissions is expected to fall 30% by 2050 compared to 2021 levels, according to a new report by Wood Mackenzie.
The race is on in the exploration and development of transition resources required for global decarbonisation. However, the investment environment needs to be more conducive, and the establishment of fair and transparent fiscal policies could be the key, says Wood Mackenzie.
The combination of factors including the Russia-Ukraine conflict, stimulated economies, thriving post-pandemic demand, and ongoing Covid constraints on logistics have put supply chains under immense stress, triggering multiple price records for metals and mined commodities.
The latest sanctions by the Australian government in banning exports of alumina and bauxite to Russia adds further disruption to UC Rusal’s supply chain and ultimately on its ability to maintain normal primary aluminium production levels.
Trade dislocations due to sanctions, high power prices and disruption to production facilities in the conflict zone are three major threats to the metals and mining industry as result of escalating conflict between Russia and Ukraine, says Wood Mackenzie.
If 2021 was the year of rebound for metals and mining (M&M) commodities, then 2022 is shaping as the year of rebalance, says Wood Mackenzie.
Lithium-ion (Li-ion) battery recycling is not expected to take off before 2030, according to a new report by Wood Mackenzie.
China’s CATL unveiled its newly-developed sodium-ion battery at a launch event today.
European steelmaker ArcelorMittal today announced plans to become the world’s first steelmaker to produce fossil-free steel using virgin iron. ArcelorMittal, the world’s second largest steelmaker and Europe’s largest producer, plans to produce fossil-free steel via a process known as H-DRI-EAF.
Proposed changes to Chile’s mining royalty regime will not have a drastic impact on the country’s production landscape in the near-term. However, analysis from global natural resources consultancy Wood Mackenzie, a Verisk company (Nasdaq:VRSK), indicates there is clear risk the amendments could compromise continued appetite to make large-scale, long-term investments in Chile’s copper sector.
China’s march towards carbon neutrality is forcing its aluminium smelters away from using captive coal-fired power, says Wood Mackenzie.
Wood Mackenzie’s latest report reveals that China’s march towards carbon neutrality by 2060 can complement both energy security and economic goals.
Scrap metals demand growth is expected to outpace primary metals over the next two decades. However, it will remain underutilised compared to its overall availability, says Wood Mackenzie.
Nickel in sulphate production is expected to rise from 211 kilo-tonnes (Kt) in 2019 to its peak at 450 Kt in 2027, while demand driven by the electric vehicle (EV) sector continues to accelerate, reaching approximately 800 Kt by 2035, says Wood Mackenzie.
Slower demand growth (especially in China) and a decent recovery in seaborne supply will continue to feature prominently in the iron ore industry in 2020. Prices will fall, with annual average price forecast for 2020 at $80/t.
The U.S has increased tariffs on $200bn of Chinese goods to 25%, from 10%, impacting a number of metals. Commentary below comes from the Wood Mackenzie metals team:
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