South Korea's trade minister could ask for an extension of the tariff freeze during US-South Korea talks
South Korea's Trade minister Yeo Han Koo said that he may request an extension to the U.S. Tariffs Freeze that expires in a few days, when he travels to Washington to meet with U.S. officials. Yeo, South Korea's newly appointed trade envoy, will fly to the U.S. this Friday. He plans to meet with U.S. Representative Jamieson Greer, and other senior officials, on Saturday. This is just before the deadline of July 9, when U.S. Tariffs may increase dramatically.
Andy Home: Metal smelting will be the next major mineral crisis for the West.
The impact of China’s export controls on rare earths has already caused global supply chains to reel, but a more critical mineral threat is imminent. Western metal smelters face a crisis. China's rapid expansion in processing capacity is reducing margins for all metals. Recently, copper smelters located in Namibia and Philippines were placed under care and maintenance because their processing fees had fallen. There are more at risk. Glencore warned…
Clean-energy supporters blast US budget as a setback
Clean energy advocates decried Thursday the House of Representatives' final passage of the President Donald Trump tax cut bill as a reverse in the energy transition. Meanwhile, fossil fuel interests celebrated. The bill now goes to Trump's desk. Trump is expected sign the bill on Friday. The law drastically reduces the 30% tax credit that developers were relying on for their solar and wind projects. This credit was set to last until 2032. Energy Innovation, a research firm, predicted that the bill will result in a decline of 300 gigawatts in U.S.
Andy Home: Metal smelting will be the next major mineral crisis for the West.
The impact of China’s export controls on rare earths has already caused global supply chains to reel, but a greater threat from critical minerals is imminent. Western metal smelters face a crisis. China's rapid expansion in processing capacity is reducing margins for all metals. Recently, copper smelters located in Namibia and Philippines were placed under care and maintenance because their processing fees had fallen. There are more people at risk.
Trump's budget bill increases fossil fuels and hits renewable energy
The U.S. Senate approved a budget bill on Tuesday, and now the House of Representatives will debate it for final approval. This would slow down the development of solar and wind power, eliminate climate funding, and increase oil, gas, and coal production. The law drastically reduces the access to 30% tax credits for solar and wind energy projects, which were set to last until 2032 and on which developers relied for future projects. For projects to qualify…
Dallas Fed survey: Oil and gas activity decreased in Q2 due to higher US steel tariffs
The Dallas Fed survey released on Wednesday showed that activity in the U.S. Oil and Gas sector in Texas and Louisiana, and New Mexico, decreased slightly in the second half of 2025. This was due to the increase in steel tariffs. The drop in activity comes after U.S. president Donald Trump, who encouraged U.S. manufacturers to "drill baby drill", doubled tariffs for steel and aluminum imports from 25% to 50%. About a quarter (25%) of the steel and aluminum used in America is imported. Investors experienced significant volatility during the second quarter.
Germany's LEAG suspends H2UB green hydrogen plan
Energy firm LEAG announced on Friday that plans to build Europe's biggest green energy hub on the site disused coal-fired plant units in east Germany had been put on hold indefinitely. The announcement comes just a week after ArcelorMittal canceled plans to convert to carbon-neutral steel production two German steel mills, citing high costs of energy. LEAG announced that H2UB Boxberg would be postponed due to the fact that political and economic conditions had not evolved as expected.
AB Foods delays UK bioethanol plant closing decision by 24 hours
Associated British Foods extended the deadline to decide the fate of Vivergo Bioethanol Plant, which faces closure. They are hoping that the UK government will provide a financial package. On June 11, the company had set a Wednesday deadline before it began redundancy discussions for the 160 employees at the Hull plant, Northern England. If no agreement was reached with the government, to reduce the impact of the U.S.-UK Trade Deal last month, the consultations would begin. The UK will reduce its tariffs of 19% on U.S.
Thyssenkrupp's deputy chairman votes against the extension of CEO contract due to 'fundamental distrust'
T hyssenkrupp’s deputy chairman, who sold a stake in the steel unit to billionaire Daniel Kretinsky, will vote against the extension of Miguel Lopez’s contract at a board of directors meeting on Friday. He said that Lopez had failed to deliver the turnaround promised of the steel division. Juergen Kerner's comments, made by one of Germany's leading labour representatives, are a significant escalation of the conflict between workers and management over the restructuring of the German conglomerate…
Thyssenkrupp's deputy chairman votes against new CEO contract due to 'fundamental distrust'
T hyssenkrupp’s deputy chairman, who sold a stake in the steel unit to billionaire Daniel Kretinsky, will vote against extending the contract of Miguel Lopez on Friday. He said he hadn’t delivered the turnaround promised of the steel division. Juergen Kerner's comments, made by one of Germany's leading labour representatives, are a significant escalation of the conflict between workers and management over the restructuring of the German conglomerate, notably the iconic steel division that the group has been trying to divest from for years.
Trade Minister: Britain is ready to implement US Tariff Deal
Jonathan Reynolds, the UK's trade minister, said that the United States is ready to implement their side of the tariff agreement with Britain. He is hoping for a declaration from Donald Trump in the next few days to make the deal effective. On May 8, British Prime Minister Keir starmer and Donald Trump agreed to lower tariffs for UK imports of steel and cars to the U.S. Britain also agreed to lower tariffs for beef and ethanol. However, the implementation of the agreement has been delayed. Reynolds and U.S.
Vietnam launches first phase in emissions trading scheme
The government announced on Tuesday that Vietnam had officially launched the pilot phase for an emissions trading scheme to encourage three major industrial sectors, namely steel, cement and thermal power producers to reduce the amount of CO2 they produce. According to the decree, Vietnam's thermal power, steel and cement producers will have to purchase allowances that cover their carbon intensity, or the amount of CO2 produced per unit of production. In its first phase, the scheme will cover approximately 50% of Vietnam's total emissions.
China's imports major commodities suffered a hiccup in the month of May: Russell
China's imports have slowed in May. Crude oil, coal and iron ore all saw declines, amid worries about the growth of the world's largest economy. Customs data released Tuesday showed that only natural gas imports improved, with 10.11 million tons in May slightly above the 9.67 millions in April. However, they were still 11% lower than a year ago. The arrivals of crude oil in May fell to 10,97 million barrels a day (bpd), down 6.2% compared with April's 11,69 million bpd.
China's imports major commodities suffered a hiccup in the month of May: Russell
China's imports have slowed in May. Crude oil, coal and iron ore all saw declines, amid worries about the growth of the world's largest economy. Customs data released Tuesday showed that only natural gas imports improved, with 10.11 million tons in May slightly above the 9.67 millions in April. However, they were still 11% lower than a year ago. The arrivals of crude oil in May fell to 10,97 million barrels a day (bpd), down 6.2% compared with April's 11,69 million bpd.
The US solar energy market will slow down as Washington shifts its priorities
A report released on Monday by the top solar trade association predicts that the number of new solar energy installations in the United States will decline over the next five-year period as the industry struggles with a federal policy shift favoring fossil fuels and tariffs. According to the Solar Energy Industries Association's and Wood Mackenzie's forecast, new solar capacity in 2030 will be over 10% less than it was in 2025. This includes an assessment of the impact of federal tariffs that will be imposed on steel and aluminum…
Sources say that the US tariff negotiations are boosted by the addition of an assistant to EU chief to the team.
Three sources familiar with these talks have confirmed that the European Union has reshuffled its team in the trade negotiations with the Trump Administration, adding a close adviser to European Commission President Ursula von der Leyen in order to address more quickly any political issues that may arise from the technical discussions. This move comes after frequent outbursts by U.S. president Donald Trump about what he perceives to be slow progress in negotiations with the EU.
Where is the money that the EU promised to workers in order to go green
The latest data available from the European Commission shows that the EU member states spent only EUR735 millions ($840 million US), the total amount of the fund, between March 2021 and March 2025. The Just Transition Fund is failing to provide adequate assistance for workers who are out of work, said Ciaran Mulooly. He was investigating the performance of the fund as a reporteur. "It's a total disaster from an employment standpoint." The towns are left with nothing. He said that it's as if they've given up on the next generation.
EUROPE GAS-Prices edge higher amid weak demand, Norwegian maintenance
Dutch and British wholesale prices of gas rose on Monday, after a fall on Friday. Warmer temperatures reduced demand while ongoing maintenance in Norway lowered supply. LSEG data shows that the benchmark Dutch front-month contract was up 0.60 euros at 34.45 Euro per megawatt hour or $11.53/mmBtu at 0920 GMT. The Dutch day-ahead contracts was up by 0.85 euros at 34.20 Euro/MWh. The British day-ahead contracts was up by 1.85 pence to 81p/therm. After the huge losses at the end last week, we are expecting less movement today.
Financial Times - 2 June
These are the most popular stories from the Financial Times. These stories have not been verified and we cannot vouch their accuracy. BP has received early interest in its sale of Castrol, the lubricants division, from both private equity firms and other industry players, including China’s state-owned Citic. However, some bidders are willing to accept offers lower than the $8 billion-plus expected range. AstraZeneca announced positive results from a trial for a drug to treat breast cancer that stops mutating tumors before they grow.
South Africa offers to buy US LNG in order to seek trade deals
According to a statement on the website of the South African government's news agency, South Africa offered to purchase liquefied gas from the United States for a period of 10 years as part proposals to secure a deal. The document signed by Minister of the Presidency Khumbudzo Ntshavheni, and posted on Sunday night, stated that South Africa intends to import 75-100 petajoules (roughly 75 to 100 millions cubic feet) of LNG from the United States each year, which is the world's largest LNG exporter.
