Copper rose to its highest level since mid-July a day after the Federal Reserve announced an aggressive interest cut of half a percentage point to stimulate the US economy and the labor market. Copper for delivery in October rose 2% from Wednesday’s settlement, touching $3.38 per pound ($9,636 per tonne) early Thursday morning on the […]
Battery Metals
Germany launches raw materials fund to strengthen supply chains
The German government is launching a €1 billion ($1.1 billion) fund for investment in raw materials as it seeks to limit dependency on producers such as China for critical minerals. “Good news — the raw materials fund is coming,” Franziska Brantner, a deputy economy minister, said Wednesday in a post on X. “In a time of growing […]
BHP warns AI boom would worsen copper shortage
BHP (ASX, LON, NYSE: BHP), the world’s largest miner, has sounded alarm bells on the growing global adoption of artificial intelligence (AI) in all fields, not out of fear for the future of humanity, but as the technology requires more energy-intensive computing, which would boost global copper demand. The growth of data centres and AI […]
Gold price sets new record as Fed rate cut decision looms
Gold prices set another record on Monday ahead of this week’s Federal Reserve meeting, during which the US central bank will assess its monetary policy for the first time in over four years. Spot gold climbed as much as 0.5% to an all-time high of $2,589.70/oz. before pulling back to $2,579.89/oz. by 11:50 a.m. ET. […]
Solid-state battery with 1,070 Wh/L energy density could be game-changer for EVs
Researchers in Europe have developed a solid-state battery with increased energy density using a new method. The battery is claimed to be suitable for modern lithium-ion battery production lines and offers 1,070 Wh/L energy density. The prototype battery was developed by 14 European partners in the SOLiDIFY consortium. Developed in the state-of-the-art battery lab of […]
Struggling Northvolt stokes fear for Europe’s battery future
STOCKHOLM, Sept 13 (Reuters) – Northvolt’s shock decision this week to shrink its operations and cut jobs has sparked fears that Europe’s best shot at a home-grown electric vehicle battery champion may stall, sector experts and people familiar with the situation told Reuters. Struggling with order delays and the loss of a $2 billion BMW contract in […]
Nickel flowing to Europe shows Indonesia’s grip on global supply
European makers of stainless steel are turning to Indonesia for nickel as the country’s booming output forces plants in other countries to shutter. Exports to Europe of Indonesian nickel pig iron — an ingredient for stainless steel used primarily by Chinese producers — to Europe have surged to 87,485 tons this year from just 1,006 […]
Gold price hits new high as momentum builds for Fed rate cut
Gold prices hit a new record on Thursday after the latest set of US inflation and unemployment figures helped bolster the the chances of a Federal Reserve cut next week. Spot gold climbed 1.6% to a new all-time high of $2,554.78 per ounce, before falling to below $2,500 as of noon ET. Three-month US gold […]
CATL to cut lithium production at key mine
China’s CATL, the world’s biggest maker of EV batteries, is considering whether to mothball a key lepidolite mine in the south-eastern Jiangxi province, as well as one of its three lithium carbonate production lines, according to a research report published on Wednesday by Citi. Falling lithium prices have affected the cost-benefit equation of producing lithium […]
Iron ore price flicks higher from lowest close in nearly two years
Iron ore rose from its lowest close since November 2022, as bearish investors took pause after a sharp slump for the steelmaking material. The flick higher on Friday ends five days of losses amid torrid conditions in China’s steel market, where prices for key products like rebar and hot-rolled coil continue to soften. Iron ore […]
