Commodity markets
Turning nickel into EV batteries: Indonesia wants to take its mining industry to the next level
Indonesia is looking to revitalize its resource sector. President Jokowi Widodo has vowed to boost the resource sector’s contribution to national GDP by increasing downstream activities. In this photo taken in October 2021, an excavator is loading up coal onto a dump truck at a coal mine operated by PT Khotai Makmur Insan Abadi in […]
Read More
New study lists Asian countries that will be hit hardest — and least — by the Ukraine war
Global prices for some grains have spiked since the Russia-Ukraine war started, with both countries contributing a significant percentage of the world’s supply for some of those commodities such as wheat. Vincent Mundy | Bloomberg | Getty Images From food prices to tourism and weapons supply, Asia-Pacific countries could be hit hard by the Russia-Ukraine […]
Read More
Oil prices slide as Biden considers huge reserves release
A general view shows Marathon Petroleum’s oil refinery, following Russia’s invasion of Ukraine, in Anacortes, Washington, March 9, 2022. David Ryder | Reuters LONDON — Oil prices dropped sharply on Thursday after reports that U.S. President Joe Biden is considering the release of up to 180 million barrels from the country’s strategic petroleum reserve (SPR). […]
Read More
Asia will become the ‘default market’ for Russian oil, Dan Yergin says
Asia will become the default market for Russian oil as the country tries to find buyers for its energy exports, IHS Markit Vice Chairman Dan Yergin told CNBC. Major oil importers in Asia like China and India have been pressured by oil prices which have soared since Russia invaded Ukraine in late February. Besides the […]
Read More
UAE energy minister warns of poverty and economic stagnation if energy affordability isn’t tackled
United Arab Emirates’ Energy Minister Suhail Mohamed al-Mazrouei at a press conference in January, 2018. MOHAMMED MAHJOUB/AFP/Getty Images Failure to address energy affordability risks casting significant portions of the world into poverty and stagnating the global economy, according to the United Arab Emirates Energy Minister Suhail Al Mazrouei. Soaring energy prices have caused inflation to spike […]
Read More
India is snapping up cheap Russian oil, and China could be next
Russian Foreign Minister, Sergey Lavrov, Chinese Foreign Minister Wang Yi and Minister of External Affairs of India Subrahmanyam Jaishankar pose for a photo during Meeting of the Council of Foreign Ministers of Shanghai Cooperation Organisation in Moscow, Russia on September 10, 2020. Russian Foreign Press Service Handout | Anadolu Agency | Getty Images There’s been […]
Read More
China’s EV makers could see a ‘shake down’ as they hike prices on rising material costs
Customers experience new energy electric vehicles at a Tesla store in Shanghai, China, On December 4, 2021. Future Publishing | Future Publishing | Getty Images A slew of electric vehicle companies operating in China have been forced to raise the prices of their cars as the cost of raw materials shoot up. Some companies like […]
Read More
Fertilizer prices are at record highs. Here’s what that means for the global economy
Workers spray fertilizer in a sugar cane field in Zacatepec de Hidalgo, in Morelos state, Mexico, May 31, 2017. Picture taken May 31, 2017. Edgard Garrido | Reuters LONDON — Supply shortages fueled by the Ukraine-Russia conflict, along with a host of pre-existing factors, have driven fertilizer prices to record highs. Prices for raw materials […]
Read More
China’s Xpeng hikes price of cars following Tesla and other EV makers as raw material costs rise
A Xpeng P7 electric car is on display during the 18th Guangzhou International Automobile Exhibition at China Import and Export Fair Complex on November 20, 2020 in Guangzhou, Guangdong Province of China. VCG | Visual China Group | Getty Images Chinese electric vehicle maker Xpeng will hike the price of its cars citing a sharp […]
Read More
How the Russia-Ukraine war could hit China’s trade
Cargo ships load and unload containers at Qingdao Port’s foreign trade container terminal in Qingdao, East China’s Shandong Province, Nov 11, 2021. Yu Fangping | Costfoto | Barcroft Media | Getty Images China’s trade surplus surged to historic highs during the pandemic as people consumed more goods than before, but analysts say the Russia-Ukraine war […]
Read More