With eye on metal prices, US cautious on possible sanctions of Usmanov companies
The United States last week imposed sanctions on the billionaire as part of several rounds of measures Washington has taken.
The United States last week imposed sanctions on the billionaire as part of several rounds of measures Washington has taken.
The company is forecasting 0.5% lower global growth than previously anticipated.
Concerns of a looming global shortage of coal are driving up prices in every US region.
The West’s moves to punish Russia for invading Ukraine have turbocharged global commodity and energy markets, sending prices soaring and threatening to derail the nascent recovery from the coronavirus pandemic.
Surging EV sales in the Asia Pacific region brings a wall of metals demand.
The country hopes to capitalize on its supply of critical minerals needed for electric vehicles, including nickel, lithium and graphite, to attract investors.
General Motors and South Korea's POSCO will build a $400 million facility to produce battery materials in Canada.
Meanwhile, nickel and other metals surged as Western sanctions against Russia disrupted supply from the major producer.
Rising prices of nickel, lithium and other materials threaten to slow and even temporarily reverse the long-term trend of falling costs of batteries.
With most of Europe’s airspace closed to flights from Russia, buyers are worried about securing supplies of the precious metal.