Trade and services

Swiss-based trading and mining giant Glencore will declare force majeure on some aluminium supply, days after the United States sanctioned major supplier Rusal.

Chinese steelmakers will increasingly seek out higher-quality coking coal grades as the industry makes further progress in reducing carbon emissions and moves up the steel product value chain.

AGL and Japanese engineering firm Kawasaki Heavy Industries will head the joint venture, which plans to use coal from deposits in Victoria.

The joint venture won an auction initiated by Monnet's creditors to sell off the bankrupt company, which owes banks around $1.6bn. Monnet operates a 1.5mn t/yr integrated steel plant in the central Indian town of Raigarh.