Brazil is advancing in its energy transition efforts with new renewable diesel and sustainable aviation fuel mandates that have drawn investor interest in the domestic market. The country aims to enhance regional supply security and meet energy transition requirements. The 'Fuels of the Future' bill, which supports these mandates, was approved by the lower house of Brazil's National Congress on March 13 and is awaiting an urgent vote in the senate.

US metallurgical coal exports have experienced growth due to demand from Asia, particularly in India, China, and Southeast Asia. This growth is linked to expansions in blast furnace steelmaking and met coke production. The economic growth in emerging Asian markets is expected to sustain long-term steel demand, driven by construction, infrastructure, and consumer products.

A total solar eclipse on April 8 crossed North America, affecting Mexico, the US, and Canada, and led to significant reductions in solar power plant output, particularly in the Electric Reliability Council of Texas and PJM Interconnection power markets.

The article discusses several key commodities and their outlook in the context of current global events. It highlights the anticipation for resolutions on emissions trading rules under Article 6.4 of the Paris Agreement at the UN Climate Change Conference (COP28) in Dubai. The article also touches upon the potential impact of OPEC+ members' decision on voluntary oil production cuts in early-2024. Additionally, it covers Russian wheat production, US natural gas output, and the EU's consideration of extending its gas market correction mechanism. These topics are crucial for understanding the future trends in commodity markets and their broader economic implications.

China imported approximately 500 mt of roasted molybdenum oxide and 1,000-2,000 mt of unroasted moly concentrate in October, with imports likely increasing from September due to stronger demand. Detailed import and export statistics have not been released by China's government since April due to technical issues. Traders estimate that October imports included cargoes in bonded warehouses and those cleared for consumption in China. Stocks were moved from Busan to Tianjin for potential processing into chemical moly products or storage. Spot prices below $12/lb led to several containers being delivered into China. China, the largest moly producing nation, is seeking imports due to increased demand for stainless steel and potential mine and plant closures after government environmental checks. In 2017, China's total imports of roasted moly oxide and unroasted con totaled 28,559 mt.

Spot molybdenum concentrate prices have increased this month due to strong demand from Chinese moly oxide producers, in anticipation of 2019 term contractual negotiations. Prices for South American molybdenum concentrate, a feedstock for moly oxide, were reported higher by 5%-8% compared to the current year's term price. The increase is attributed to a supply shortage caused by Chinese government environmental restrictions. This has led to increased inquiries for both spot and 2019 term molybdenum concentrate. Negotiations for moly oxide and ferromoly, used in specialty steel production, have begun in Asia, focusing initially on volumes. Despite the concentrate shortage, the domestic Chinese demand and supply of ferromoly are balanced, with demand at 7,000-10,000 mt/month.

Japanese primary aluminum consumers are considering using more scrap aluminum due to a widening price gap caused by falling scrap prices. The increase in domestic supply from higher imports and reduced buying from China, due to government restrictions, has put downward pressure on scrap prices. Japan's aluminum and aluminum alloy scrap imports rose by 12.5% year on year in the first half of 2018, while exports dropped slightly. The price of clean 6063 extrusion scrap is currently lower than that of standard P1020 primary aluminum ingot, and the gap is expected to increase.

A 6.7 magnitude earthquake in Hokkaido, Japan, caused a power outage that is likely to suspend manufacturing operations on the island for about a week. Toyota Motor, Nippon Steel, Sumitomo Metal Corp, Japan Steel Works, and Mitsubishi Steel have all shut down operations in the region. Beer brewers Kirin, Asahi, and Sapporo also halted production at their local plants. The Ministry of Economy, Trade and Industry reported damages to the Tomatoh power plant and stated that it would take about a week for full recovery. Hokkaido Electric Power is working to restart hydropower plants and restore the power supply.