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In its just-concluded session, the Washington legislature passed several pieces of legislation intended to promote the transition of Washington’s transportation system away from fossil fuels. The most consequential of these, the Clean Fuels Program, is awaiting Gov. Inslee’s signature. Three additional pieces of legislation are also worthy of note. These are HB 1287, which sets a non-binding goal that by 2030, all new vehicle sales in Washington should be electric, and lays groundwork for facilitating that transition. SB 5192 set requirements for standardization of public electric vehicle charging stations. Finally, SB 5000 creates a sales and use tax exemption for hydrogen-powered vehicles.
The
Renewables Monthly Metals Index (MMI) traded flat for this month’s reading, as cobalt prices have surged so far this year.
(Editor’s note: This report also includes the MMI for grain-oriented electrical steel, or GOES.)
The MetalMiner Best Practice Library offers a wealth of knowledge and tips to help buyers stay on top of metals markets and buying strategies.
Rising cobalt prices
Earlier this month, MetalMiner’s Stuart Burns delved into the rise of electric vehicles. Furthermore, he also zeroed in on rising EV demand’s impact on prices, particularly for critical battery metals like cobalt.
For EV manufacturers, the challenge lies in cobalt supply, cost and ethics. A majority of the world’s cobalt is mined in the Democratic Republic of the Congo, where the documented use of child labor in artisanal mining operations poses significant ethical problems.
by Tyler Durden
On the heels of
record highs in Iron Ore and Steel earlier this week, as commodity demand soars on the back of economies emerging from COVID lockdowns (demand) and various supply chain/operational issues (supply);
copper prices surged to an all-time high this morning as Chinese investors unleashed fresh demand following a five-day holiday.
Source: Bloomberg
Bloomberg Intelligence strategist Mike McGlone said that “the reaction of copper to $10,000-a-ton resistance may set the inflation vs. deflation tone for years”
As Mining.com reports, the reopening of major industrial economies is sparking a surge across commodities markets from corn to lumber, with tin climbing above $30,000 a tonne for the first time since 2011 also on Thursday.
Today s Market View - Bacanora Lithium, Lucara Diamonds, Pasofino Gold and more.
Bacanora Lithium (LON:BCN) – Potential offer from Ganfeng
Lucara Diamonds (CVE:LUC) – Reports healthiest diamond market for 5 years
Pasofino Gold (CVE:VEIN) – C$9m equity raise
Power Metal Resources (LON:POW) – New corporate presentation
SP Angel . Morning View . Friday 07 05 21
Copper prices make new high
Good Chinese PMI data point to strengthening growth momentum
MiFID II exempt information – see disclaimer below - FCA looks to scrap MiFID research rules on small-caps in UK competitiveness drive (Investment Week)
Lucara Diamonds (CVE:LUC) – Reports healthiest diamond market for 5 years
Pasofino Gold (CVE:VEIN) – C$9m equity raise
3 hours WoodMac: Asia Needs To Invest More In Gas To Lower Emissions 4 hours Venezuela Imports First Diesel Cargo In Six Months 6 hours China Increases Oversight On Crude Import Of Oil Majors 7 hours Senators Propose Pro-Nuclear Tax Amendment 22 hours Activist Investor Wins Exxon Board Seats In Day Of Reckoning For Big Oil 24 hours Norway s Oil Industry Boosts Investment Despite IEA Report 1 day Dutch Court Orders Shell To Slash Emissions In Historic Climate Case 1 day Iran Bans Crypto Mining During Hot Summer Months 1 day Nissan May Build Huge Battery Plant In The UK 1 day Ford Confirms That 4 Out Of 10 Cars It Sells In 2030 Will Be Electric