Column: Electric dreams turn into a nightmare for battery metals
A sector that was once racing to build new supply has been closing mines and deferring projects as low prices bite into the cost curve.
Goldman Sachs has suspended covering zinc markets “for the moment”, citing “restricted capacity” following the departure of the sector lead earlier this year.
Goldman’s metals strategist Nicholas Snowdon has joined Mercuria, as the energy trader seeks to expand its presence in the sector.
Snowdon’s departure from Goldman followed that of Jeff Currie, the investment bank’s former head of commodities research, who joined private equity giant Carlyle in February to lead energy transition analysis.
The Wall Street bank’s co-head of commodities trading, Xiao Qin, will also retire by the end of the year, according to an internal memo seen by Reuters.
(By Swati Verma; Editing by Mark Potter)
Column: Zinc concentrates squeeze but there’s no shortage of metal
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