Sales of Excavators in China Declined in First Two Months of 2023

A US federal appeals court unanimously ruled that the Department of Energy exceeded its authority when it ordered Consumers Energy’s 1.4-GW J.H. Campbell coal-fired power plant in Michigan to remain operational beyond its scheduled May 2025 retirement. The court found that the DOE improperly invoked emergency powers under the Federal Power Act. Michigan argued that continued operation of the economically unviable plant could impose nearly $300 million in additional costs on electricity customers. However, the ruling does not immediately close the plant, as Consumers Energy remains subject to a separate temporary DOE order requiring operations to continue until mid-November 2026. The decision could constrain similar federal efforts to postpone coal-plant retirements on grid-reliability grounds.

In H1 2026, Americas moly supply divergence deepened. Despite stronger mining profits, overall output failed to rebound. While H2 may see recoveries at select large mines, supply elasticity remains constrained. Which operations are dragging on supply, and where will incremental growth emerge? SMM data reveals a market entering a new phase of "stronger margins, diverging production, and concentrated incremental gains."...

Milan’s Court of Appeal has reserved its decision on a request by Acciaierie d’Italia and Ilva in Extraordinary Administration to urgently suspend enforcement of an earlier order requiring the shutdown of the hot-end operations at the Taranto steelworks. The underlying court order, confirmed in July, requires hot-end activities to be halted by October 28, but the latest hearing did not produce an immediate ruling on whether implementation of that order will be suspended. The timing is becoming increasingly critical for the plant. According to statements made following the hearing, Acciaierie d’Italia has indicated that September 16 represents the operational point of no return for beginning the shutdown process, as once procedures to switch off the hot-end facilities are initiated, reversing them would become extremely difficult. Lawyers involved in the case said they expect the court to issue its decision before that date. The situation therefore remains a significant supply-risk factor for the Italian steel market, particularly as the Taranto works is a major source of domestic flat-steel feedstock. However, no new court decision has yet ordered, prevented or suspended the shutdown. The key near-term development will be the Court of Appeal’s ruling on the suspension request ahead of the September 16 operational deadline.