In this week’s Market Movers Americas, presented by Maite Pérez:
• US aluminum industry in focus at SPGCI symposium
• Hydrogen vehicle face challenges with supply and pricing
• Northwest River Forecast Center to host monthly briefing
• Winter storm pricing to be discussed
This week, aluminum market participants are meeting in Scottsdale, Arizona, for the S&P Global Commodity Insights Aluminum Symposium. Topics for discussion will include supply and demand drivers and the US aluminum market, as well as the impacts of federal legislation, Russian sanctions and sustainability.
Hydrogen fuel cell electric vehicle drivers will continue to face challenges this week, with more than 15 fuelling stations not operating. Hydrogen pump prices have been elevated amid supply disruption, and in California they are currently three times more expensive than conventional gasoline on a fuel basis comparison.
The Northwest River Forecast Center will host its monthly water supply briefing on Thursday. The water supply forecast at The Dalles Dam, which serves as the barometer for regional hydro conditions, has been below year-ago levels, which is driving up power.
Finally, the Texas Supreme Court will hear oral arguments Tuesday on a lower court’s ruling around power regulation during Winter Storm Uri. The lower court ruled that the Public Utility Commission of Texas overstepped its authority by setting $9,000/MWh prices administratively.
I’m Maite Pérez. Thanks for kicking off your Monday with S&P Global Commodity Insights.