US must work with allies to secure electric vehicle metals – White House

China and India are rolling out plans to dramatically accelerate the adoption of electric vehicles (EVs), initiatives that have prompted the IEA to take notice and promise a review its long-term oil demand forecast.

BMI Research expects prices to continue sliding for at least the next five years on rising supplies from Australia and Brazil and evidence of Chinese demand cooling earlier than expected.

The new head of the environment office, Roy Cimatu, has however said he believed it was possible to balance mining and natural resources protection.

Market rumours point at South32 as the most likely buyer, since the miner decided last month to ditch its $200 million acquisition of Peabody Energy’s coal mine in New South Wales.

Chinese steelmakers overestimated impact of Australian cyclone and the market is now awash in met coal.

Chinese refined copper imports for April down 30%, concentrate shipments decline 17%.

And why the worst may be over already.

It’s been a bad week for iron ore, with all indices steeply lower on Friday for a second consecutive day.

Whether we’re discussing the ancient merchants that traversed the legendary Silk Road, or the transfer of goods across modern border lines, trade has always been about building close relationships.