Gold has set another all-time high as expectations for Federal Reserve rate cuts grow while some traders ramped up bets on a second Donald Trump presidency. Spot gold was up 1.7% to $2,464.39 an ounce by 2:15 p.m. ET, having earlier hit a new record of $2,466.02 an ounce. US gold futures also surged 1.7% […]
Battery Metals
US approaches Indonesia for multinational critical mineral partnership
The US has approached Indonesia about joining a multinational partnership to boost the Southeast Asian nation’s environmental standards as the two countries discuss a critical minerals deal, a senior US official said on Monday. US Under Secretary of State for Economic Growth, Energy, and the Environment Jose Fernandez spoke to the Indonesian government about the […]
Indonesian onslaught wipes out Australia’s nickel industry
An influx of cheap nickel supply from Indonesia has all but killed off Western Australia’s long-running nickel sector. Nickel prices halved in 2023, dipping below $16,000 per tonne in December as surpluses widened. According to Benchmark Mineral Intelligence, Indonesia accounted for 49% of nickel production in 2023, up from less than 5% just eight years ago. […]
Using sodium to make more sustainable batteries
The element lithium is used widely in batteries because it results in long-lasting, stable energy storage. However, it’s a finite resource, so researchers are hard at work trying to identify alternate materials to use in battery production. Using the Canadian Light Source at the University of Saskatchewan, a team from McGill University has recently come […]
Iron ore price heads for weekly fall on profit-taking ahead of key China meeting
Iron ore futures are set for a weekly fall amid a flurry of profit-taking, ahead of top consumer China’s third plenum, although growing expectations of US rate cuts pushed up prices on Friday. The most-traded September iron ore contract on China’s Dalian Commodity Exchange (DCE) traded 0.36% higher at 827.5 yuan ($113.95) a metric ton, […]
Gold price tops $2,400 again on signs of cooling inflation
Gold has once again crossed the $2,400-an-ounce mark to close in on another record after an unexpected drop in US consumer prices bolstered hopes of a Federal Reserve interest rate cut in September. Spot gold jumped 2.0% to $2,418.78 an ounce by 9:10 a.m. ET Thursday, for its highest in almost two months. US gold […]
CMOC to double copper output at Congo mines to 1 million tonnes by 2028
CMOC Group plans to more than double copper output from its mines in the Democratic Republic of Congo over the next four years, setting a new much higher target for the metal as future demand is seen strengthening. The Chinese producer said it aims to raise output of the red metal to between 800,000 tons […]
Biden admin offers $1.2B loan to expand US battery supply chain
Companies have invested more than $100 billion in U.S. electric vehicle and battery manufacturing since the Inflation Reduction Act was passed two years ago. A long list of components go into those EVs and batteries — and the more of them that can be produced in the U.S., the better. On Tuesday, the Biden administration […]
Copper’s unicorns
Tech venture capitalists invest in startups and get to call them unicorns. Startups like Juicero, famous for $700 a pop “smart” chopped fruit squeezers and being one of Silicon Valley’s dumbest moments, Wag! (oh? you have a dog walking app that sends updates on the frequency and consistency of pet number 2s? – here’s $300 million) and In-Real-Life […]
Copper price surpasses $10,000, expected to rise further, says Citigroup
Copper prices surpassed $10,000/tonne on Friday after Citigroup analysts predicted the industrial metal may retest that level on investor optimism over policy support in China. The world’s biggest consumer is widely anticipated to introduce further stimulus to upgrade its renewable energy infrastructure at the Third Plenum meeting in mid-July. These additional measures, specifically targeting domestic […]
