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...“Even if a price agreement is secured, smaller mills and traders may go and do deals with iron ore mines on the side,” said Tom Price, an analyst at Liberum, a London-based brokerage....
...The case has put the spotlight on the financial health and corporate governance of commodity traders in China, the world’s largest metals consumer....
...The mining sector remains unloved by investors despite record profits for many big companies last year, and despite widespread expectations of a boom in demand for metals such as copper, iron ore and nickel...
...Ebitda for iron and copper rose in the second half of the year when compared with the first half, as Barclays points out....
...Goncalves was born in Brazil, trained as an engineer and has spent his entire career in metals and mining....
...“Everyone’s disappointed by the China [GDP] number,” said Al Munro, senior base metals strategist at Marex, a brokerage. “We’re in a very choppy, uncertain environment”....
...The dislocation is creating a problem for producers, traders and consumers, who rely on the LME’s price as the world benchmark for their own deals and as a price guide for lower quality versions of the metal...
...A £13bn shareholding would not guarantee fresh cobalt supplies for Tesla any more than it did for Japanese mills with holdings in Australian iron ore and coking coal miners in the 1980s....
...What we’ve seen is the effects of low liquidity play out right in front of us,” said Geordie Wilkes, head of research at Sucden Financial, a metals brokerage....
...A second technology that investors should take notice of is the iron-air battery, in which energy can be stored and discharged through the rusting and “unrusting” of iron....
...Half of the EU’s aluminium and zinc output has already been lost from curtailments and closures this year, according to Eurometaux, a trade body for non-ferrous metals that do not contain iron, as producers...
...for metals and minerals....
...Although Vale is best known for its huge iron ore business it also has a large division that produces industrial metals, primarily nickel and other clean energy metals such as copper and cobalt....
...Two years later, Charles Schwab, founder of the brokerage giant and once one of San Francisco’s most generous philanthropists, relocated headquarters to Texas in protest at high tax rates and regulations...
...Software has not been the traditional skill set for metal bashers and they have had to learn fast. Second, in an increasingly datafied world, there is no such thing as an apolitical company....
...A version of this article was first published by Nikkei Asia on August 25 2022. ©2022 Nikkei Inc. All rights reserved....
...“This will result in a material build [up] in iron ore inventories at Chinese ports and a sharper fall in iron ore prices over the next six months than previously expected.”...
...Here is annual change in asking rents for new leases, as reported by the online brokerage sites Zillow and Apartment List: This looks awful....
...It was renowned for energy trading, prime brokerage and equity research during its final days....
...“We would not be surprised to see suggestions of a temporary pause in purchases from the Ministry of Industry and Information Technology or China Iron and Steel Association . . . and we expect more Chinese...
...“I still think cobalt will be an important battery material going forward,” said William Adams, head of base metals and battery research at Fastmarkets....
...Elon Musk, Tesla’s chief executive, said safer variants of lithium-ion technology such as lithium-iron phosphate batteries — which use iron and phosphate instead of the metals nickel and cobalt — are suitable...
...The metal reached as high as $8,930 a tonne by afternoon in London, while nickel rose to its highest level since September 2014....
...“Evergrande is just the tip of the iceberg,” said Louis Tse, managing director at Wealthy Securities, a Hong Kong-based brokerage....
...Nickel rose above $20,000 a tonne for the first time since 2014, while iron ore traded above $175 a tonne and close to a 10-year high....
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