WASHINGTON, DC (June 25, 2026) – Drivers are continuing to see relief at the pump as the national gas price average declines for the fifth consecutive week. Today’s national average is $3.91 per gallon. Crude oil prices have also continued to fall as the U.S. and Iran work toward a long-term deal. Despite lower prices, demand could rise as a record number of Americans prepare to travel for Independence Day weekend, with 85% planning to drive to their destinations.
Today’s National Average: $3.918
One Week Ago: $3.999
One Month Ago: $4.507
One Year Ago: $3.227
According to new data from the Energy Information Administration (EIA), gasoline demand decreased last week from 9.21 million b/d to 8.77 million. Total domestic gasoline supply increased from 214.2 million barrels to 216.3 million. Gasoline production decreased last week, averaging 9.5 million barrels per day.
Oil Market Dynamics
At the close of Wednesday’s formal trading session, WTI fell $2.87 to settle at $70.34 a barrel. The EIA reports that crude oil inventories decreased by 6.1 million barrels from the previous week. At 412.1 million barrels, U.S. crude oil inventories are about 7% below the five-year average for this time of year.
EV Charging
The national average cost of electricity at public EV charging stations held steady this week at 41 cents per kilowatt hour.
State Stats
Gas
The nation’s top 10 most expensive gasoline markets are Hawaii ($5.53), California ($5.50), Washington ($5.27), Alaska ($4.93), Oregon ($4.78), Nevada ($4.71), Illinois ($4.20), Idaho ($4.19), District of Columbia ($4.18), and Michigan ($4.18).
The nation’s top 10 least expensive gasoline markets are Indiana ($3.30), Texas ($3.36), Oklahoma ($3.43), Tennessee ($3.44), Louisiana ($3.50), Mississippi ($3.51), Alabama ($3.51), Arkansas ($3.51), Kentucky ($3.52), and Iowa ($3.54).
Electric
The nation’s top 10 most expensive states for public charging per kilowatt hour are West Virginia (53 cents), Hawaii (51 cents), New Hampshire (47 cents), California (46 cents), Louisiana (46 cents), Alaska (45 cents), Illinois (45 cents), New Jersey (45 cents), Arkansas (44 cents), and Arizona (43 cents).
The nation’s top 10 least expensive states for public charging per kilowatt hour are Kansas (30 cents), Missouri (32 cents), Iowa (33 cents), Maryland (33 cents), Utah (33 cents), South Dakota (34 cents), Nebraska (35 cents), Vermont (35 cents), New Mexico (37 cents), and Colorado (37 cents).
Drivers can find current gas and electric charging prices along their route using the AAA TripTik Travel planner.
https://gasprices.aaa.com/national-gas-average-stays-below-4-for-second-week/
Tesla (TSLA) will report second quarter delivery numbers as early as tomorrow as the EV maker seeks another quarter of recovering sales.
Tesla is expected to report 397,000 deliveries, per Bloomberg consensus, though this figure will fluctuate as more analyst projections come in. The projection implies 11% growth from the first quarter, but up only 3% from the 384,000 Teslas delivered a year ago. Tesla sales were hit a year ago following the changeover to the new Model Y and backlash over CEO Elon Musk's political positions.
Tesla's own company-compiled consensus of sell-side analysts, posted to its investor relations site on June 26, sees total deliveries of 406,024 for the quarter, with the median estimate closer to 408,600.
The report comes amid a mixed geographic sales picture for the company. In the US, the expiration of federal EV tax credits has hit demand, removing the incentive that made the math work for a lot of buyers. Cox Automotive sees Tesla's US sales down 20% due to the loss of federal incentives.
Interestingly, Europe is moving in the opposite direction. According to the European Automobile Manufacturers' Association, Tesla registrations (a proxy for sales) hit 28,610 cars across greater Europe, up nearly 108% from a year earlier. Year to date through May, the company has registered 118,068 vehicles in those markets, a 57% jump. Within the EU alone, May registrations more than doubled, up 152%.
"International strength is doing the heavy lifting with Europe acting as the standout driver and China providing further support," Deutsche Bank analyst Edison Yu wrote earlier on Tuesday. "By region, we expect the largest YoY growth to come from Europe at nearly 40%, followed by China at +3%, and finally N. America at -21% (albeit +7% QoQ)."
Yu added that Deutsche sees North American sales sliding 21% year over year but up 7% sequentially from Q1.
Tesla CEO Elon Musk speaks alongside President Trump in the Oval Office of the White House on May 30, 2025. (Kevin Dietsch/Getty Images) · Kevin Dietsch via Getty Images
That rebound comes despite Elon Musk's controversial political leanings. In much of Europe, Musk remains a liability, with his politics treated as toxic across wide stretches of the buying public.
But Tesla's pricing is strong enough that buyers are holding their noses and buying anyway, meaning a good deal trumps bad politics for most buyers.
The larger EV picture across the pond is good for Tesla and other automakers. Battery-electric cars captured 20% of the EU market through May, up from 15.3% a year earlier, as gas and diesel car sales kept sliding.
US stocks rose on Tuesday after a record-setting start to the week, as investors assessed a remarkable run-up in chip stocks in the first half of the year and the dollar's growing strength.
The Dow Jones Industrial Average (^DJI) edged up 0.3% after the blue-chip benchmark closed above 52,000 for the first time on Monday. The S&P 500 (^GSPC) and the tech-heavy Nasdaq Composite (^IXIC) climbed 0.7% and 1.2%, respectively, as tech stocks continued to rally.
Investors are heading into the last trading day of the second quarter and first half of 2026 buoyed by a Supreme Court ruling that left Federal Reserve independence intact, for now, and by the prospect of potential US-Iran peace talks in Qatar starting Tuesday.
Tech's stellar rally this year has been driven by a 105% surge in chip stocks over the past six months, though the sector has seen increased volatility in recent weeks.
Meanwhile, oil flows through the Strait of Hormuz are recovering faster than expected, prompting a shift from fears of crude shortages to warnings of a looming glut. Oil prices continued to fall, poised for a quarterly drop with Brent (BZ=F) futures trading below $74 a barrel and WTI futures (CL=F) below $70.
The relentless rise in the dollar was also worrying Wall Street, as it pushed the yen to a 40-year low, prompting talk of intervention by Japan. HSBC warned the greenback's rally could become "explosive" if the Federal Reserve hints it's prepared to tighten policy
A JOLTS reading on job openings in May came in better than expected on Tuesday, though the hiring rate remained low. The data is likely to feed into bets on Fed interest rate hikes this year, as it sets the stage for Thursday's June jobs report.
On the corporate front, Nike (NKE) is expected to report its quarterly results on Tuesday, coming at a challenging time for the sportswear maker.
YQN Operation Team
What is the latest container shipping cost 2026 outlook? In July 2026, container shipping costs are surging to between $7,000 and $13,000 per FEU due to the Red Sea crisis, early peak season demand, and carrier blank sailings.
1. The Sudden July Rate Surge
June booking rates hovered around $5,000 per FEU. However, July will see a sharp jump to $7,000-$8,000+. This means paying an extra $2,000 to $3,000 per container. Rates for the MSC Algeria route to North Africa have already hit $9,500-$9,900 per FEU.
2. Carrier Cost Breakdown
To understand these increases, let's look at the data from the top three carriers. As shown in the file image_3dd9ee.jpg, costs are stacking up. Here is the estimated total cost including Peak Season Surcharges (PSS).
To check how these changes affect your specific routes, you can easily use the YQN logistics live search to view current FCL rates.
3. Three Core Drivers of the Rate Hike
Why is the container shipping cost 2026 rising so fast?
Red Sea Crisis: Rerouting Asia-Europe ships via the Cape of Good Hope adds 10-15 days, burning capacity. War and insurance surcharges jumped 300%-500%. Maersk suspended Jeddah transshipments due to severe congestion.
Early Peak Season: E-commerce events like Prime Day, TikTok sales, and World Cup shipments pulled demand forward. China's exports to Europe grew 16.34% year-over-year in the first five months of 2026.
Carrier Blank Sailings: Drewry reports 30 canceled sailings in the coming five weeks. Carriers are shifting capacity from weaker routes to profitable main lines to maintain high rates.
4. A Potential Turning Point in Q3
Despite the July peak, a turning point is emerging. On June 14, Xinhua News reported a confirmed U.S.-Iran peace agreement, opening the Strait of Hormuz. The futures market reacted instantly, with the EC2608 contract dropping 9.05% in a single day.
While July rates will stay high since Red Sea transit isn't fully restored, capacity might normalize by September. Historically, it takes carriers 3-5 months to reorganize routes after a disruption ends.
5. Strategic Advice: How to Reduce Container Shipping Cost 2026
Waiting a month could cost you an extra $2,500 per container. When standard rates explode, you need project-level logistics thinking.
Check Real-time Spot Freight Rates
The freight rates market is shifting fast and by using YQN's online rates search engine, you don't need to check rates from different carriers or freight forwarders.
When you are shipping from China, you can try this free ocean freight calculator and enjoy all the rates by top carriers from low to high.
All you need to is using your email to have a free sign up and put POL, POD, container type and quantity, and click search.
Use the YQN logistics live search engine to benchmark FCL rates today.
Think Beyond Standard FCL
When standard 40HQ rates approach $13,000, standard strategies fail. Look at how YQN recently shipped oversized workboat hulls from China to Canada.
By utilizing Flat Rack (OOG) containers and precise 3D loading plans, we bypassed standard FCL bottlenecks. When standard dry boxes are sold out or overpriced, creative equipment usage secures your space.
Diversify Ports and Transport Modes
High rates often stem from port congestion. Take a cue from our recent wind turbine transport projects.
Moving massive turbine components requires dodging congested hubs and leveraging multi-modal inland routes. If your standard port is blocked, work with your forwarder to find alternative rail or barge transit hubs.
Lock in Customized Solutions Early
For low-margin retail, an extra $2,500 adds $1.00 per garment, instantly wiping out profits. Do not wait for rates to drop to make a move.
If you are planning complex or Q3 shipments, request a customized routing plan at YQN's sea freight quote page and our experts will reply by email as soon as possible.
6. Conclusion
Navigating the container shipping cost 2026 landscape requires agility. While July brings inevitable rate hikes, recent geopolitical shifts signal relief for late Q3. Shippers must plan alternative routes, track surcharges, and secure space early.
Key Points:
Oil prices dropped on Tuesday as traders focused on possible US-Iran talks in Doha. The market views these talks as opportunity to lower the war premium in crude prices. Brent and WTI both dropped as the investors now look to the hopes of de-escalation. But the downside is still limited as the situation remains fragile.
The main issue is the Strait of Hormuz. The indication of easier flow from the Strait of Hormuz will exert negative pressure on oil prices, as it will ease concerns about supply. Iran and Oman are still negotiating on new transit routes. This can help rebuild confidence if ships can navigate safely. But Iran also warned of blocking ships from the unapproved paths which maintains the risk premium in the oil market.
The uncertainty surrounding the US-Iran talks keeps traders cautious. Iran’s Foreign Ministry has said there will be no meeting for negotiation in the coming days, but President Trump has indicated that the meeting will take place in Doha. These mixed messages cause some market turmoil. If the negotiations continue, oil prices could drop further, while a failure of talks could quickly bring oil prices back up.
But the physical flow of oil and LNG is important at this point rather than the headlines. In the Middle East, producers continue to load cargoes despite the latest attacks on ships and the recent resurgence in strikes. If the recovery rate persists, then the Gulf flows could reach pre-war levels soon. That is bearish for oil as the increased supply removes the shortage issues. But prices could continue to fluctuate until there is clarity that Hormuz traffic has returned to normal.
WTI Oil Technical Analysis: $66 Support in Focus Below $80
WTI crude oil remains under pressure as the price consolidates below $75 and looks to drop further towards the $66 area. This is the strong long-term support in the WTI market. There is still no sign of a rebound as prices remain under pressure. A break below $66 will likely push prices further downside towards the $60 area. However, the RSI has entered extremely oversold levels and is signaling a strong rebound.
NCEA Newsletter - June '26
National Center for Energy Analytics
Published Jun 30, 2026+ Follow
In June, the energy world was forced to reckon with the distance between narrative and reality. A U.S.-Iran agreement moved oil markets, but the Strait of Hormuz remains far from normal. China's clean-energy reputation looks very different when you examine the actual data. Direct air capture is absorbing billions in subsidies while delivering temperature reductions too small to measure. And the finger-pointing at data centers for rising electricity bills is obscuring the policy choices that created the affordability problem in the first place.
Our research this month followed that same thread — stripping back the storylines to examine what the numbers actually show. Our scholars were equally busy, appearing across print, broadcast, and podcast to advance a more grounded conversation about energy costs, oil market structure, and what reliable power actually requires. Below are highlights from our scholars, media appearances, and the energy news we're watching.
New Issue Brief: After the UAE, Who Leaves OPEC Next?
After UAE Departure, What's Next for OPEC? | Neil Atkinson
Why it matters: The UAE's exit from OPEC — the most significant blow to the organization in its 65-year history — shocked markets, but the signs had been building for years: quota defiance, clashes with Saudi Arabia, and deepening alignment with the U.S. Atkinson examines what a more fragmented OPEC means for global oil dynamics, whether Venezuela could be next to leave, and why intensified competition among producers will likely mean lower prices — alongside continued geopolitical volatility.
New Issue Brief: Vacuuming CO₂ Won't Save the Planet
The Energy Impacts of Capturing CO2 from the Air | Jonathan Lesser & Lars Schernikau
Published Estimates of DAC Energy Requirements
Source: Adapted from Lucas Desport et al., "Deploying Direct Air Capture at Scale: How Close to Reality?" Energy Economics 129 (January 2024)
Why it matters: Direct air capture is one of the most heavily subsidized bets in climate policy — but the energy math doesn't work. Lesser and Schernikau show that capturing 2 billion tons of CO₂ annually would require nearly half of total U.S. electricity consumption and over $2 trillion in new generating capacity — yet would reduce global temperatures by just 0.108 degrees Fahrenheit by 2100. DAC fails any reasonable cost-benefit test, and the projected $180 billion in tax credits is an unjustifiable drain on taxpayers.
New Issue Brief: The Climate World's Biggest Myth
The Myth of the Chinese Clean-Energy Dragon | Paul H. Tice
China's Share of the Global Energy Narrative, 2025
Source: EDGAR; Climate TRACE; Our World in Data; Energy Institute; Global Energy Monitor; The EV Report; IEA
Why it matters: China is celebrated as the world's first "electrostate" — a clean-energy role model the U.S. should emulate. But fossil fuels still account for 78% of China's primary energy consumption, coal-fired generation has nearly tripled over two decades, and total greenhouse gas emissions reached 19.4 billion tons in 2025. Tice examines three persistent myths about China's energy transition and why policymakers who treat it as a decarbonization template are misreading both the numbers and the incentives.
The Texas Electric Grid Needs Reliable Power
Jonathan Lesser & Brent Bennett | The Wall Street Journal
Texas is held up as an energy success story, but the grid is carrying more risk than the headlines suggest — less combined gas, coal, and nuclear capacity than a decade ago, 42 gigawatts of new wind and solar since 2021, and residential electricity prices that keep climbing despite natural gas at historic lows. The lesson from Texas isn't that renewables are working — it's that a grid built around intermittent generation and ballooning transmission costs is one bad winter storm away from catastrophe.
https://www.linkedin.com/pulse/ncea-newsletter-june-26-national-center-for-energy-analyti-ick8e
White Mesa uranium mill, in Utah
1st July 2026
By: Marleny Arnoldi
Statistics and analysis firm US Energy Information Administration (EIA) finds in its latest yearly uranium production report that US-based uraniummines produced 2.1-million pounds of triuranium octoxide, or uranium concentrate, in 2025, marking a significant increase from the 657 000 lb produced in 2024.
The production of uranium concentrate is the first step in the nuclear fuel production process, preceding the conversion of the concentrate into uraniumhexafluoride to enable uranium enrichment, followed by pellet fabrication and finally fuel assembly fabrication.
US uranium exploration drilling during 2025 included 1 824 holes with a total footage of 1.01-million feet, compared with 1 324 holes drilled in 2024 for a total 613 000 ft.
Development drilling totalled 3 708 holes with total footage of 1.3-million feet, up from 2024 development drilling of 2 462 holes for 1.26-million feet.
Notably, EIA finds exploration and development drilling activities in 2025 were at the highest levels since 2013 for number of holes drilled and for total footage drilled.
From a project perspective, EIA reports that, as of the end of 2025, the Shootaring Canyon uranium mill in Utah and the Sweetwater uranium project in Wyoming were on standby with a total capacity of 3 750 t of material a day. In Utah, the White Mesa mill restarted production. In Wyoming, the Sheep Mountain heap leach facility reached a partial permitting and licensed stage.
At the end of 2025, in-situ recovery (ISR) facilities Alta Mesa project, Lost Creekproject, the Smith Ranch-Highland operation, Ross Central processing project, and Willow Creek project were operating with a combined capacity of 13.3-million pounds uranium concentrate a year, down from the industry-wide ISR capacity of 14.1-million pounds in 2024.
Five in-situ recovery plants were on standby as of the end of 2025 with a combined yearly production capacity of 8.8-million pounds uraniumconcentrate. Seven in-situ recovery plants were planned for three states—South Dakota, Texas, and Wyoming—with a combined yearly production capacity of 10.5-million pounds of uranium concentrate.
Total employment in the US uranium production industry was 711 full-time person-years - one person-year is equal to full-time employment for one person, in 2025, which marked a 41% increase year-on-year and the highest employment total since 2014. The industry employed 506 full-time people in 2024.
EIA further finds that expenditures for land, exploration, drilling, production and reclamation totalled $234-million in 2025, up from $160-million in 2024.
EIA's report comes as US President Donald Trump is pushing to rapidly expand US nuclear power, with advanced reactor startups racing to meet a July 4 deadline and a new $17.5-billion financing plan aimed at jump-starting commercial reactor construction.
Together, these developments are putting renewed focus on whether the domestic uranium supply chain can keep pace with US ambitions and energy security goals.
Eagle Nuclear Energy, for one, is advancing one of the largest uranium resources in the US, as well as advanced small modular reactor technologies.
Its flagship asset is the Aurora uranium project in Oregon/Nevada.
By Sukanya Mitra
Gold is on track for its sharpest quarterly decline in 13 years as inflation concerns stemming from the Middle East conflict reinforced expectations that the US Federal Reserve could hike interest rates.
Spot gold dropped 0.2% to $4,008.94 per ounce by 12.58pm GMT on Tuesday after hitting its lowest level since November earlier. Prices slid 11.3% in June so far.
US gold futures dipped 0.4% to $4,022.70 per ounce.
The precious metal was headed for its first quarterly decline since 2024 and its steepest since the June quarter of 2013, when the Gulf conflict stoked inflation concerns.
Though gold is typically seen as a hedge against inflation, higher rates tend to weigh on the non-yielding metal.
“The markets are a little uneasy about how stable the MOU is, and there’s pressure on gold because people are not seeing much light at the end of the tunnel,” Marex analyst Edward Meir said.
Top US envoys who have arrived in Doha will not hold a high-level meeting with Iran, a Qatari official said, casting doubt on the progress of efforts to bring a lasting halt to the Iran war.
The US inflation readings remain stubbornly high and well above the Fed’s 2% target.
“Markets expect the Federal Reserve to keep interest rates elevated for a prolonged period and may even consider further rate hikes,” Meir said, noting that these expectations were weighing on gold prices.
Traders are pricing in about a 65% chance of an interest rate hike in September, according to the CME FedWatch Tool.
Investors are now eyeing the ADP employment data due on Wednesday and the US nonfarm payrolls data due on Thursday to further gauge the Fed’s monetary policy stance.
Meanwhile, an OMFIF survey showed central banks are more likely to cut US dollar exposure over the next decade due to heightened geopolitical concerns while increasing gold holdings in the near term.
Among other metals, spot silver slid 0.8% to $58.2585 per ounce and headed for its worst quarterly drop since the first quarter of 2020.
Platinum dropped 0.7% to $1,564.34 and palladium rose 0.2% to $1,215.94. Both metals were on track to log monthly and quarterly declines.
Posted on 30 Jun 2026
SiTration, a materials recovery and processing startup serving the mining and metals industries, recently collaborated with BHP Invent and Copper South Australia to complete five weeks of prototype test work, trialling SiTration’s patented processing technology on local copper samples.
The testing focused on extracting gold and copper from waste streams. SiTration successfully recovered bullion-grade gold (99.99% purity) from gold containing streams using a simplified process and also achieved 99.9% purity in copper recovery from residual waste liquids.
SiTration’s successful demonstration signifies a significant breakthrough in mining innovation, pioneering efficient and low-cost electro-extraction technology to recover minerals from waste and processing streams. SiTration’s silicon-based electrode technology delivers strong durability, selectivity and efficiency, enabling the recovery of high-purity products directly from dilute, complex and chemically harsh streams.
Simplifying flowsheets has the potential to decrease the use of processing chemicals and reduce costs, laying the groundwork for a new era of mineral recovery, SiTration says. For the near term, it is targeting copper and gold waste streams from different BHP assets. Potential future use cases could contribute to unlocking low-grade copper material that is currently seen as waste.
“SiTration’s trial with BHP Invent validates how our breakthrough approach can modernise existing processing operations and set a new standard for resource-efficient, cost-effective mineral recovery across the industry,” Dr. Brendan Smith, Co-founder and CEO of SiTration, said.
Marley Palin, Acting Vice President BHP Innovation, added: “Projects like this are how we turn big ideas into real impact, connecting global innovation with the challenges we’re solving every day across our operations. By accelerating innovation in processing technologies, we can maximise every tonne mined, through reducing inputs and lowering energy and water use. Together, we’re collaborating to deliver safer, more productive and more sustainable outcomes.”
SiTration is a spin-out of MIT, supported by BHP Ventures, enabling full value mining by efficiently recovering critical minerals from even the most dilute and complex streams. The company’s core technology combines uniquely durable silicon filtration and electroextraction stages to enable profitable and sustainable recovery of critical minerals including copper, cobalt, nickel, precious metals, and rare earth elements. SiTration’s technology can replace traditional resource-intensive mining processes and can be deployed to recover materials from traditionally inaccessible sources, including waste. SiTration is quickly scaling up its validated technology, while working with global mining leaders to deploy pilot systems.
After weeks of reviewing the ballots, Peru’s electoral commission declared Keiko Fujimori the winner of the presidential election.
The Peruvian election commission announced on Monday that the right-wing candidate Keiko Fujimori has won the presidential race.
Earlier, the country's electoral authority finished tallying 100% of the votes, 22 days after the June 7 election.
The final results show conservative candidate Keiko Fujimori with a lead of 50.135%, or 9,223,396 votes, over leftist candidate Roberto Sanchez's 49.865%, or 9,173,755 votes.
The runoff between Fujimori and Sanchez was one of the closest elections in Latin America in decades. Crime and political instability have dominated the race to elect Peru's ninth leader in ten years.
The review of the vote was conducted by members of the Special Electoral Jury Image: Leslie Moreno/REUTERS
Fujimori family returns to power
It was also Fujimori's fourth bid for the job. Her victory means the return of her family name to power after more than two decades since her father, former President Alberto Fujimori, was ousted.
He led Peru through the turbulent 1990s, crushing the Maoist Shining Path rebels and taming hyperinflation. However, Alberto Fujimori was later disgraced, exiled, and jailed for corruption and crimes against humanity.
On July 28, Keiko Fujimori will replace interim President Jose Maria Balcazar for a five-year term.
Earlier, Sanchez said that he would not recognize a Fujimori-led government, citing a "serious violation of the electoral process."
Edited by: Wesley Dockery
https://www.dw.com/en/peru-fujimori-declared-winner-of-presidential-election/a-77760522
According to a new briefing from InfluenceMap, India’s largest steelmakers are engaging more constructively on climate and energy policy than their counterparts in Japan and Korea
India’s largest steelmakers are engaging more constructively on climate and energy policy than their counterparts in Japan and Korea, according to a new briefing from InfluenceMap, a New York-based advocacy group that monitors companies and organisations that attempt to influence global climate policy.
The analysis released on Tuesday covers five of biggest primary steelmakers including Tata Steel, JSW Steel, ArcelorMittal Nippon Steel India (AM/NS India), Jindal Steel and SAIL, along with the Indian Steel Association, between 2021 and 2026.
It finds that the sector’s engagement is partially aligned with the temperature goals of the Paris Agreement, and generally more supportive of climate and energy policy than its global competitors.
The contrast is sharpest on the European Union’s Carbon Border Adjustment Mechanism (CBAM). While Japanese and Korean steel makers opposed the measure and pushed to weaken domestic carbon pricing, Indian producers have been markedly less combative.
The findings come as India’s own green steel framework gains ground. The Green Steel Taxonomy, announced in December 2024, was the first of its kind globally, and in February 2026, AM/NS India became the first integrated steel producer in the country to be certified under it.
Crude steel production
India is the world’s second-largest producer of crude steel, and the International Energy Agency expects that almost a fifth of global steel output to come from India by 2050.
The briefing also finds the sector discloses its climate policy engagement more fully than other Indian industries through the Business Responsibility and Sustainability Reporting framework, however, more detail on specific policies is needed to meet global investor expectations.
Tanvi Rahim, Analyst, InfluenceMap said The Indian steel industry is beginning to engage more positively on policies to decarbonise India’s steel sector, particularly with several actors supporting a domestic carbon pricing system.
As the second-largest producer of crude steel in the world, India will be key to ensuring the deep decarbonisation of one of the world’s most emissions-intensive sectors, he added.
Published on June 30, 2026
At the last day of the last month of the UK quota period from April 1 to June 30, some of the import quotas for certain steel products allocated for Turkey, the EU, and other countries have been exhausted, while over 75 percent of quotas for some steel products have been used up, according to the data from the UK government.
Regarding the exhausted quotas, Turkey has used all of its 24,373 mt quota for non-alloy and alloy hot rolled sheets, while the EU has exhausted its quota of 35,073 mt for non-alloy merchant bars and light sections. In addition, 17,560 mt quota for angles and sections allocated under “other countries” has been exhausted.
The EU has used 91.75 percent, 76.57 percent and 92.82 percent of its quotas of 29,197 mt for alloy merchant bars and light sections, 36,284 mt for organic coated sheets and 70,404 mt for quarto plates, respectively. Meanwhile, Turkey has used 87.16 percent of its 15,558 mt quota for gas pipes.
All product quotas that were exhausted during the fourth quota period are shown below.
Nucor Holds Hot-Rolled Coil Spot Price Steady at $1,130 per Short Tonne
Nucor, the American steel producer, has decided to keep its consumer spot price (CSP) for hot-rolled coils unchanged from the prior week, according to a letter the company sent to its customers on June 29. The current offer is set at $1,130 per short tonne. This price was fixed after a previous increase of $5 per short tonne on June 22.
This marks the first time since the end of January this year that Nucor has held the CSP steady. Before this pause, the company had implemented weekly price increases ranging from $5 to $15 per short tonne. The largest single increase, of $15 per short tonne, was announced on March 2.
The CSP for the joint venture California Steel Industries (CSI) also remained at its prior level of $1,180 per short tonne. In the letter, Nucor indicated that the price was left unchanged as the company monitors import levels along with domestic and global price trends. The company noted that underlying demand is strong and improving, and that current indicators point to further growth during the second half of 2026 and into 2027. Delivery times are currently between three and five weeks.
According to estimates from SMUs, the average price for hot-rolled coils in the United States as of June 23 stood at $1,145 per short tonne. Global prices for hot-rolled coils showed mixed trends in May. On the European market, average monthly offers fell by 2 to 4 percent, while in China and the United States there was a slight increase of 3 to 4 percent.
Looking ahead, prices in the United States are likely to remain high in the coming months due to sufficient demand and seasonal plant shutdowns. However, as import supply increases and market supply gradually improves, the pace of price rises may slow down.
https://www.indexbox.io/blog/nucor-holds-hot-rolled-coil-spot-price-steady-at-1130-per-short-tonne/
US-based Hybar LLC has announced that it has raised US$1.1 billion to build a second sustainable scrap metal recycling rebar mill in northeast Arkansas. The construction project will take two years and will continue to lead in product quality and environmental sustainability standards, the company said. Hybar’s rebar production capacity will increase to approximately 1.3 million tons annually, representing just under 13 percent of the domestic market.
The new expansion follows the successful commissioning of Hybar's first rebar mill nine months ago. According to the statement, the existing facility achieved generating positive cash flow in its fourth month of operation, which the company said drove the decision to expand. Looking forward, Hybar expects the expansion to yield close to 5,000 tons of rebar per year per employee, which they believe will be the most productive labor force in the world’s steel industry, and double their current production capacity.
Hybar purchases electricity under a special-rate agreement with Entergy Arkansas, whose power generation portfolio is among the lowest carbon-emitting in the US. The company also receives electricity from its affiliated company, Green & Clean Power LLC, which operates what Hybar describes as the largest behind-the-meter industrial solar and battery storage facility in the US. Once the remaining certifications and harmonic testing are completed later this summer, the company expects to become the only steel producer in North America capable of manufacturing steel using 100 percent renewable electricity when solar power is available.
By Irina Slav - Jun 30, 2026, 3:00 PM CDT
China will continue spending heavily on both coal and alternative energy, such as wind and solar, over the next five years, Beijing’s latest five-year plan revealed this month. The apparent paradox sees the world’s largest emitter by far continue to generate a solid portion of its energy from coal while also boosting the largest alternative energy capacity in the world. The thing is, it is not actually a paradox.
Ever since the signing of the Paris Agreement in 2015, a host of countries have been working hard to reduce their reliance on hydrocarbons in transport and power generation. China has been among the most active transitioners, while maintaining that it will pursue an all-of-the-above attitude to energy. While Germany was shutting down its last nuclear reactors and Britain was strangling its North Sea oil and gas production to free space for wind and solar, China was building both wind and solar installations and coal power plants. And it intends to continue doing just that.
In 2025, China accounted for as much as 78% of all new coal power generation capacity globally. It currently accounts for 86% of coal generation capacity currently under construction in the world that is planned to be put into operation this year. China, in other words, is building coal power plants like there’s no tomorrow. This is because China appears to be very well aware of the importance of baseload generation, the kind that comes on demand rather than when the weather is right.
Yet China also appears to be well aware of the importance of diversification, which is why it has been investing massively into the buildout of the world’s largest alternative energy generation capacity. Between 2019 and 2025, the world spent a total of $1.1 trillion on wind, solar, and other alternative energy solutions. China spent more than half of that.
There is also the matter of self-reliance, and China has really excelled at that, turning into the global superpower in energy transition tech, controlling critical mineral supply chains, rare earth processing capacity, and becoming the biggest manufacturer of wind and solar equipment that other transition-eager parts of the world depend on for their plans. Meanwhile, China has continued to boost its domestic coal and natural gas production, still on the grounds of self-reliance and its crucial importance for energy security.
It is likely for reasons of energy security that China stipulated in its new five-year plan that it will aim to generate 50% of its electricity from non-hydrocarbon sources in 2030. That would be an increase on an earlier target of 42.3% that was set for 2025. Beijing plans to do this by building even more wind and solar capacity, to bring the total to over 50% of the country’s total installed capacity, or 2,700 GW. At the end of 2025, wind and solar accounted for 47% of the total installed capacity for power generation in China.
While it does that, however, China will also continue building new coal power plants, mine more coal, and probably import more when needed as well. Reuters’s Clyde Russell reported in a recent column on China’s energy plans that coal production in the country had tripled since 2000 and is on course to hit an all-time high of 4.823 billion tons this year. The country has also built a rather unique industry for the conversion of coal into gas—and petrochemicals.
China, in other words, is letting nothing go to waste. It is betting on all of the above for its energy security, not just the technologies that give politicians elsewhere a warm feeling of climate virtue, even when they come with a pretty solid emissions footprint because they were made in China using coal power.
https://oilprice.com/Energy/Energy-General/Chinas-Energy-Future-Runs-on-Coal-and-Solar.html
