Tata Steel is in talks with the UK government to acquire £500 million ($630 million) in funding. The steelmaking multinational confirmed the funds would help the Port Talbot plant replace its operating blast furnaces with electric arc furnaces. The news comes as the Tata Steel share price recently reached a high for the year. “Given […]
Category: Environment
Shake Up for Aluminum Prices? China’s Surge into Indonesia Sparks Market Shifts
It’s called the “nickel model,” and China hopes to duplicate it for its aluminum industry. Indeed, after more than 20 years of fast growth, China’s aluminum sector recently reached its domestic capacity limit. The government imposed this ceiling on new smelter construction to cut down on pollution and energy consumption. Now, the policy spur significant […]
Renewables/GOES MMI: Cobalt and Other Battery Metals Prices Rise Slightly
Since April, the Renewables MMI (Monthly Metals Index) has been in a tight sideways trend. Falling demand and slumping material production for battery metals in China, as well as an oversupply of materials continue to exert bearish pressure on the index. However, month-over-month, the index finally broke its sideways trend, rising by 4.75%. Chinese stimulus […]
Glencore’s Bid for Teck Resources Sparks Environmental Concerns
Glencore continues to express interest in a tie-up with base metals producer Teck Resources. Recently, the multinational commodity trader and mining company proposed steps to address the Canadian firm’s concerns over carbon exposure as a result of any merger. The main source of contention for the deal is Teck’s coking coal operation. “Glencore is fully […]
Demand for Copper Tempered by Innovations in the EV Market
Two firms, Goldman Sachs & Consultancy CRU Group, recently revised their forecasts for copper usage in electric vehicles (EVs). Indeed CRU Group now predicts that the average EV will use between 51-56 kilograms of copper from this year to 2030. This is a significant decrease from their previous estimate of 65-66 kilograms. Similarly, Goldman Sachs predicts […]
Tata Steel’s UK Plant Struggling with Rising Costs and Decarbonization Challenges
Difficult trading conditions and a lack of clarity over state aid have put the future of Tata Steel’s UK plant into doubt. The Indian parent group also warned that current conditions would soon affect Tata Steel prices at Port Talbot. “A stress test conducted by the board to assess the potential impact of the economic […]
The Good, the Bad, and the Ugly of Cobalt
The cobalt price index fell below $26,000 per tonne as of April 2023, its lowest level since 2019. Indeed, while cobalt demand remains largely steady, there has been a significant increase in supply. Meanwhile, analysts expect the demand for refined cobalt, frequently used in rechargeable batteries, to increase by 8% to 205,000 tonnes by 2023. […]
Renewables/GOES MMI: Slowing Economy Could Impact Renewable Energy Companies’ Projects
The Renewables MMI (Monthly Metals Index) dropped by 3.65% between March and April. This represents the index’s most significant drop since November 2022. Despite this, the index still has yet to break out of its sideways trend. However, the falling economy continues to keep both renewable energy companies and investors on edge. The Inflation Reduction […]
Renewables/GOES MMI: Steel Prices Rise, Experts Doubt Solar Energy Efficiency
After holding a pretty steady sideways trend since October, the Renewables MMI (Monthly MetaMiner Index) decreased by a considerable 8.56%. Indeed, multiple components of the index trended downward, including cobalt, neodymium, and silicon. Meanwhile, Chinese silicon costs continue to drop due to overcapacity. Other reasons for the drop included multiple silicon producers coming online and […]
High Energy Costs: Can Hydro Power Help Alleviate Lower Smelter Output?
Recently, I had the pleasure of interviewing Trond Gjellesvik and Charlie Straface of Hydro. Hydro is a Norwegian company specializing in green energy and low-carbon aluminum products. It is based out of Oslo, but harbors multiple business locations around the globe. I was curious to learn how the company’s efforts correlated with the current price […]