Washington has expanded an initiative to promote mining of lithium, cobalt and other minerals in resource-rich countries.

Worldwide, in the first half of this year, Tesla deployed more battery power than its next three biggest rivals combined.

The partnership with China Baowu Steel Group and Tsinghua University seeks to develop new ways to cut carbon emissions along the steelmaking supply chain.

“What has happened has definitely irked policymakers in China. That puts a lot of pressure on coal imports for the end of the year.”

There is weakness elsewhere, but China's commodity business model of importing raw material is in fine shape, says new report.