Key talking points from the 75th anniversary event of European steel distributors’ association Eurometal, held July 2-3 in Luxembourg and attended by Fastmarkets.

Vegoils futures traded broadly in positive territory on Wednesday July 1. In Asia, crude palm oil (CPO) futures rose steadily on higher related vegoils, while soyoil futures rallied on the Chicago Mercantile Exchange amid a drop in US stocks and as US biofuels developments were in focus.

This is a sample of Fastmarkets’ weekly recap of the main movements in global cash markets.

The Voluntary Carbon Markets Integrity Initiative (VCMI) is already seeing wide-scale support for its recently launched Claims Code of Practice, VCMI technical director, markets and standards, Ana Carolina Avzaradel Szklo told Fastmarkets in an exclusive interview.

Mexico’s production and consumption of long steel fell year-on-year in May due to weakness in the country’s construction sector, but posted a month on month gain, according to the latest data from the Mexican steel chamber, CANACERO.

The EU Commission has proposed an amendment to the EU Climate Law, which would allow the use of “high-quality” Article 6 carbon credits from 2036 as part of its 2040 climate target, it announced on Wednesday July 2. Up to 3% of 1990 EU net emissions would be allowed to be covered by these credits.