In 2002, the metals industry was jolted into uproar, after a US warehouse owner announced it would start charging a fee to safely buckle up each cargo being trucked from its depots in the London Metal Exchange’s storage network. Overnight, traders trying to access metal backing the LME’s futures contracts were hit with tens of […]
Battery Metals
Mining industry struggles with valuation gap amid shift to copper
Leading mining companies are struggling to balance investor expectations for hefty returns with paying the necessary premiums to buy pure play copper companies as global demand for the metal sends valuations soaring. Big diversified miners including Rio Tinto, BHP Group and Glencore, pressured by a slowdown in global economic growth and falling commodity prices, are […]
Money managers’ bullish bets on gold jump to four-year high
Money managers’ bullish wagers on gold jumped to the highest in more than four years as the precious metal registered successive highs after Federal Reserve’s first interest-rate cut since 2020. Hedge funds and other large speculators boosted net-long positions by 0.9% to 254,841 as of Sept. 24, the highest since March 2020, weekly US government […]
US Steel confirms arbitration ruling favoring Nippon Steel’s $14.9 billion buyout
US Steel (NYSE: X) said on Wednesday the board of arbitration, jointly selected by the steelmaker and the United Steelworkers union (USW), has ruled in favor of Nippon Steel’s $14.9 billion buyout deal. In a statement, US Steel said it has satisfied each of the conditions of the successorship clause of its Basic Labor Agreement […]
Gold price holds near record as banks up forecasts
Gold steadied near an all-time high on Wednesday as new US consumer data further pointed to weakness in the economy, bolstering the case for deeper interest rate cuts in the coming months. Spot gold stayed flat at $2,655.79 per ounce by 12:30 p.m. ET, having pulled back from a new record of $2,669.97 set in […]
Battery discovery could ‘revolutionise’ electric cars, scientists say
Scientists have discovered a new battery material that could radically reduce the cost of electric vehicles and supercharge the transition to clean energy technologies. A team from Georgia Tech in the US made the breakthrough while researching the cathodes for lithium-ion batteries, which are found in everything from laptops to electric cars. Described as a […]
Gold price climbs to new record, now up 27% on the year
Gold continued to climb new highs on Monday as traders digested fresh data showing a moderation in US business activity while awaiting key economic readings due later this week for clues on the Federal Reserve’s next move. Spot gold maintained above the key $2,600/oz. level set last week, up 0.2% to $2,627.34/oz. by 12:15 p.m. […]
US announces $3 billion in funding for new battery projects
The US Department of Energy announced today plans to dole out more than $3 billion to over two dozen battery projects across 14 states. The money will go toward processing critical minerals, building batteries and their components, and recycling batteries. It’s part of the Biden administration’s push for more domestic manufacturing to support its climate […]
Biden goes big on batteries
The Energy Department announced plans to funnel over $3 billion into proposed projects across the U.S. for producing advanced batteries and materials. Why it matters: It’s among the biggest White House efforts to seed a domestic supply chain for materials used in EVs and energy storage. These subsidies sit at the intersection of three administration goals: energy transition, building U.S. […]
Gold breaks $2,600 barrier as Fed cut bets prolong historic run
Gold soared above the $2,600 level on Friday for the first time, extending a rally boosted by bets for further U.S. interest rate cuts, and rising tensions in the Middle East. Spot gold was up 1.3% at $2,620.63 per ounce by 1:43 p.m. ET (1743 GMT), while U.S. gold futures settled 1.2% higher to $2,646.20. […]
