Week Closes With Oil, Metals and Clean Energy Each Keeping Its Own Counsel
Producers, miners and renewable developers closed the week on separate footings, with the move in each group set by its own commodity and policy drivers.
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Producers, miners and renewable developers closed the week on separate footings, with the move in each group set by its own commodity and policy drivers.
Beijing's antitrust regulator is reportedly asking Anglo American for a steady supply of copper concentrate before it blesses the Teck merger. The ask exposes how short Chinese smelters are of feedstock.
A pricier streaming box, a fight over who pays for data-center power and a billion-dollar charm offensive share one cause. The AI buildout's costs are reaching people who never bought an AI product.
This week in energy: Washington presses Europe to release diesel from strategic stocks, KGHM and South32 start the Sierra Gorda copper expansion in Chile, and UK electric-car sales climb as the ZEV mandate bites.
Thursday's close showed the energy trade sorting itself by individual story, with producers, miners and clean-energy funds each telling a different tale.
Petra Diamonds weighs a sale and Mountain Province hands its Gahcho Kué stake to De Beers, while Sigma Lithium halts operations in Brazil and KGHM and South32 start their Sierra Gorda expansion.
The G7 promised 100 million barrels from emergency stocks, and diesel futures sagged. But the shortage sits in refineries from China to the Gulf, and a one-off drawdown does not repair a refinery.
India is funding transmission and storage, the U.S. Senate is haggling over permits, SSE leans on its networks, and First Solar goes to court. Making clean power is no longer the hard part.
A steep slide in Chinese lithium futures has not stopped projects with licences and fiscal certainty from raising capital. Sigma Lithium shows that a court order can stop a producer whatever the price.
Gold and silver fell on the last trading day of the third quarter and took the big gold miners with them, while MP Materials rose 4.09% and the oil majors finished mixed.
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