Renewables Won t Easily Replace Coal Usage forbes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from forbes.com Daily Mail and Mail on Sunday newspapers.
China has moved to cool its red-hot steel sector by discouraging exports and boosting imports of some feedstock alternatives to buoyant iron ore, steps largely viewed as short-term measures to calm prices.
By Reuters Staff
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JAKARTA, May 4 (Reuters) - Indonesia’s coal benchmark price was $89.74 per tonne in May, up more than $3 from April, as an economic recovery in the Asian region picked up pace, the country’s energy ministry said in a statement on Tuesday.
“Asia’s economy is starting to recover in the first half of 2021. dominated by China,” energy ministry spokesman Agung Pribadi said in the statement. Indonesia’s coal benchmark price in April was $86.68 per tonne. (Reporting by Bernadette Christina Munthe; Writing by Fathin Ungku Editing by Ed Davies)
(Updates prices)
HANOI, May 4 (Reuters) - London aluminium prices rose on Tuesday over concerns that a commitment to reduce pollution by top producer China could limit the energy-intensive metal’s supply.
Three-month copper on the London Metal Exchange rose 1.5% to $2,433.50 a tonne by 0647 GMT, copper advanced 0.8% to $9,900 a tonne, zinc was up 0.5% at $2,941 a tonne, while nickel increased 0.7% to $17,795 a tonne.
“We expect aluminium to remain supported in the short term amid concerns climate change policies in China will curb output,” said ANZ analysts in a note.
“Coal-fired power is used by more than 80% of China’s aluminium smelters. Pollution-reduction policies are likely to push many of them to hook up to the grid, thereby increasing their costs,” they added.
19 States Ask Supreme Court to Rein In EPA Powers Over Coal Plants
West Virginia and 18 other states are asking the Supreme Court to review the scope of the Environmental Protection Agency’s regulatory authority over greenhouse gases after an appeals court struck down a Trump-era rule months ago on carbon dioxide emissions from coal-fired power plants.
“The case, if granted, would be the biggest climate question to reach the Supreme Court in more than a decade,” according to Bloomberg Law. In Massachusetts v. EPA (2007), the Supreme Court gave the agency the power to regulate greenhouse gases.
The Jan. 19 decision by the U.S. Court of Appeals for the D.C. Circuit was a victory for left-wing environmentalists that helped clear the way for the then-incoming Biden administration to impose new restrictions on the energy sector.