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On 4 December 2020, the LME cash price hit its highest level since March 2013, closing at US$7,742/t. (By Copper prices plunged 27% to a low of US$4,617/t in late March as the global impact of COVID-19 became apparent, but copper stabilized and then began to rise, completing a full recovery to its January starting point by the end of July.
EIA expects sustained global demand for petroleum products and Saudi Arabia’s extended voluntary production cuts will contribute to oil prices rising through the year. The Brent crude oil price was near $75 per barrel at the beginning of July and increased throughout the month to surpass $86 per barrel on 4 August. per gallon.
Lithium-ion battery pack prices, which were above $1,200 per kilowatt-hour in 2010, have fallen 89% in real terms to $132/kWh in 2021, according to a new report from BloombergNEF (BNEF). All prices are in real 2021 $, unless stated as nominal.) At the cell level, average BEV prices were just $97/kWh.
The Covid-19 crisis in 2020 triggered the largest annual drop in global energy-related carbon dioxide emissions since the Second World War, according to IEA data, but the overall decline of about 6% masks wide variations depending on the region and the time of year. Many economies are now seeing emissions climbing above pre-crisis levels.
The International Energy Agency (IEA) estimates that global refining capacity decreased by 730,000 barrels per day (b/d) in 2021—the first decline in global refining capacity in 30 years. million b/d since the start of 2020, contributing 184,000 b/d to the global decline in 2021. million b/d in 2022 and by an additional 1.6
The price of copper on the London Metal Exchange (LME) rose to $9,990/t on 29 April, marking a ten-year high and closing in on the record high LME price of $10,147.50/t In its new Copper Monthly Insights , Roskill said that the ongoing surge in copper pricing is taking impetus from President Biden’s new CO 2 targets.
A new report sponsored by ABB Robotics and authored by the automotive intelligence unit of Ultima Media auggests that concerns over EV battery supply to meet the escalation in demand poses serious risk to the growth of market share of electric vehicles, despite plans for 80 new global battery gigafactories. —Tanja Vainio.
Their paper tracks fossil fuel usage and government subsidies since the the 2009 G20 summit, during which representatives from 20 countries discussed global financial and socioeconomic issues and agreed to “phase out and rationalize over the medium term inefficient fossil fuel subsidies.”. Costs ranged from a low of 0.3%
While cobalt prices have shown positive signs of late, there are nuances within the market which highlight the key fundamentals that will likely decide cobalt’s future price trend—which is taking its cues less and less from the industrial metal supply chain, according to a new report from Benchmark Mineral Intelligence.
On 19 February, LME cash prices for copper hit a nine-year peak of US$8,806.50/t. The true direction of prices in 2021 will only be revealed once Chinese traders return and assess their appetite for the metal in March, Roskill said. This is the highest level since 1 May 2012 when copper traded at US$8,528/t.
Global oil consumption outpaced oil production for the six consecutive quarters ending with the fourth quarter of 2021 (4Q21), which has led to persistent withdrawals from global oil inventories and significant increases in crude oil prices.
Ford has awarded TomTom a global multi-year deal to provide Ford’s next-generation SYNC with its real-time traffic service. Ford also equipped SYNC 4 with optional navigation with the ability to share parking space availability and prices.
Underinvestment in oil and gas development extended into a second year in 2021 even as global energy demand rebounded, raising the prospect of price shocks, scarcity and growing energy poverty, according to a new report by the International Energy Forum (IEF) and IHS Markit. —Joseph McMonigle, secretary general, IEF.
The price of US benchmark West Texas Intermediate (WTI) crude oil is near its highest level since 2014, increasing rapidly from low prices in mid-2020 as demand returns faster than supply, according to the US Energy Information Administration (EIA). US crude oil inventories were 440.3 million barrels by the end of June 2020.
These heterogeneous effects mean that different countries will have differing incentives to abide by the Paris Agreement, which aims to limit global warming below 2 °C relative to pre-Industrial levels. The price of carbon should then be set at this price, everywhere. CO 2 Emissions and Temperature Under the Paris Agreement.
Global energy-related carbon dioxide emissions rose by 6% in 2021 to 36.3 The rebound of global CO 2 emissions above pre-pandemic levels has largely been driven by China, where they increased by 750 million tonnes between 2019 and 2021. billion tonnes, accounting for 33% of the global total. billion tonnes. billion tonnes.
Roskill reports that prices for Chinese graphite continue to rise as producers contend with increasing electricity costs and supply disruption caused by limits on energy consumption. Meanwhile, prices for 94% C medium flake remained flat until July but have since risen by 15%.
Despite the increases in production, EIA expects the Brent crude oil price to remain above $100 per barrel this year, according to the agency’s May 2022 Short-Term Energy Outlook (STEO). Higher electricity prices mean that the average US household will pay about the same amount for electricity this summer as last summer.
The US Energy Information Administration (EIA) expects that low inventories of distillate fuels, which are primarily consumed as diesel fuel and heating oil, will lead to high prices through early 2023. —EIA Administrator Joe DeCarolis. EIA revised its forecast because U.S.
With all OEMs taking the same path, it is unlikely that any long-term sustainable competitive advantage will be conferred and that visibility over the billions of dollars of planned xEV investment is a price of market participation. and is an innovation leader with the highest number of patents filed amongst other global automakers.
The COVID-19 pandemic has set in motion the largest drop in global energy investment in history, with spending expected to plunge in every major sector this year—from fossil fuels to renewables and efficiency—the International Energy Agency said in a new report.
In its 2023 Strategic Update , Albemarle Corporation raised its forecast for 2030 global lithium demand (LCE, lithium carbonate equivalent) to 3.7MMt—an increase of 15% from its previous forecast due to the impact of the US “Inflation Reduction Act” and strong EV demand. Albemarle also estimates the 2030 mined supply to come in at 2.9
In a commentary in the journal Joule , Rob McGinnis, founder and and CEO of Prometheus , a company that is developing technology to remove carbon dioxide from the air and turn it into fuels, discusses the technology advances that could lead to the potential price-competitiveness of renewable gasoline and jet with fossil fuels. 2020.01.002.
billion cubic feet per day (Bcf/d) of liquefied natural gas (LNG) was traded globally during 2021, an increase of 2.2 New LNG export capacity, primarily in the US, and rising global demand for natural gas drove continued growth in global LNG trade last year. Global LNG export capacity has increased by 29%, or 14.0
Energy prices used in the S&P Goldman Sachs Commodity Index (GSCI) ended 2021 59% higher than the first trading day of the year, according to the US Energy Information Administration (EIA). Price increases were largely driven by increased demand from the initial phase of global economic recovery from the COVID-19 pandemic.
Chinese lithium and cobalt sulfate prices fell this month as strict COVID-19 lockdowns in Shanghai and elsewhere limit demand in the world’s largest electric vehicle market. Prices for cobalt sulfate fell by 6%, according to Benchmark’s Cobalt Price Assessment. There has been a little bit of softness in pricing.
The US price of ammonia, the primary source of nitrogen fertilizer, has risen by a factor of six in the past two years, and most of these increases have occurred since March 2021, according to the US Energy Information Administration (EIA). Although US natural gas prices also rose, they ended the 2021–22 heating season at close to $5.00/MMBtu,
Previous models have treated oil producers’ carbon footprint as if all barrels of oil are exactly the same, but with novel extraction technologies there is a great deal of variability in the global oil supply. Everyone knows about these market structures, but by considering it, we show the structure is very important in a global economy.
On 16 May 2022, the average US on-highway retail diesel fuel price was $5.61 Although retail diesel prices have increased across the entire United States, prices in the Northeast have increased the most and are now among the highest in the country. On 16 May, the average retail diesel price was $6.43/gal
Despite volatility in global oil markets, US crude oil exports reached a record high in 2020, according to the US Energy Information Administration (EIA). million b/d during the past three years, despite the COVID-19 pandemic, which caused significant crude oil price drops, reduced demand, and reduced production in US and global oil markets.
An estimated 387GW/1,143GWh of new energy storage capacity will be added globally from 2022 to 2030, according to the forecast—more than Japan’s entire power generation capacity in 2020. The US and China are set to remain the two largest markets, representing more than half of global storage installations by the end of the decade.
Trading Economics global macro models and analysts expectations forecast battery-grade lithium carbonate to trade at 504,813 CNY (US$74,000) per tonne in 12 months time. Global consumption of lithium in 2021 was estimated to be 93,000 tons, a 33% increase from 70,000 tons in 2020. Lithium is expected to trade at 484,185.00
EV battery prices have been falling, and they could decline even more steeply over the next two years, according to a new Goldman Sachs report. On the pack level, global average battery prices declined from $153 per kwh in 2022 to $149 in 2023, according to the report, which predicts that they'll continue dropping to $80 per kwh by 2026.
Disruptions to this supply can have wide-ranging consequences, but the understanding of how those disruptions play out in global markets is limited. China dominates the global rare earths market. Didymium oxide, which is a mixture of neodymium and praseodymium, was also found to be prone to price surges.
Higher crude prices and continued optimization improvements have driven the first upward revision to the S&P Global Commodity Insights 10-year oil sands production outlook in more than half a decade. Higher oil prices have driven record returns for the Canadian oil sands.
Falling sales in H2 2019 in China, the largest market for EVs, and a global reduction in sales caused by lockdowns related to the COVID-19 pandemic in H1 2020 slowed lithium demand growth, impacting demand from both battery and industrial applications.
A worldwide shake-up in the electric vehicle market, including a Tesla sales slump and policy changes in several countries, could benefit Australian motorists and send prices plummeting. Drivers could expect… The post Tesla slump and global shake-up could see EV prices as low as $20,000 appeared first on The Driven.
US LNG exports increased in the first half of this year as international natural gas and LNG spot prices increased in Asia and Europe due to cold weather. Natural gas demand in the spring continued to rise amid low post-winter inventories, which contributed to unseasonably high natural gas prices. Bcf/d for a total peak capacity of 10.8
Facilitating a Transition to Zero Emission Vehicles in the Global South ” examines the status of zero-emission vehicle (ZEV) uptake across the world and considers how to accelerate the transition. Despite these developments, the global distribution of ZEVs remains deeply uneven, the report says.
EV sales are likely to continue growing in 2024, reaching around one in five new car sales globally, and 11% of the U.S. Tight profit margins, volatile battery raw material prices, and the phaseout of incentives in certain countries have led to concerns about an EV sales slump, but data.
Surging global demand for electric vehicles (EVs) and other motorized devices has highlighted global dependency on the unsustainably-produced rare earth materials currently required for the magnets needed in electric drivetrains and motors.
The growth in RE permanent magnet demand in EVs is also expected to have implications for other end-use applications, which may be more price sensitive, with opportunities for substitution and thrifting in higher price scenarios.
Tesla bull Morgan Stanley reiterated its $410 price target, with analyst Adam Jonas sharing his sharp take. The bank shaved Teslas price target to $410 from $430 in Q1, adjusting for expected lower deliveries in the first quarter. economic fears and global shifts. Teslas stock slid 17.5% from Wednesday to Mondays close.
The global push to convert the world to electric vehicles will cause supply chain complexities that could undermine the alternative energy transition in the United States, according to a new report from Rice University’s Baker Institute for Public Policy. Global Nickel Trade and Chinese Dominance.
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