Xi’s metal curbs risk backfiring as G-7 seeks China alternative
The move underscores the dilemma facing President Xi Jinping as he seeks to counter US efforts to prevent China from accessing the chips needed to dominate technology.
Projects to be funded include the second rare earth separation plant to be built outside China, a battery material refinery and a vanadium processing plant.
Chinese lithium prices double again in 2022, Benchmark’s mid-March assessment shows with seasonal restart of domestic brine supply unlikely to counter growing deficits.
Under the deal being discussed, the roughly 10 banks that were Xiang Guangda’s counterparts for his nickel bet would extend enough credit to cover his mark-to-market losses.
Russia's invasion of Ukraine has led to a surge in prices of metals used in cars - from aluminum in the bodywork to palladium in catalytic converters to the high-grade nickel in electric vehicle batteries.