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Energy Markets

Fossil Fuels

Fossil Fuels

Battery technologies that compete with RPTs shape the EV Industry

Startups around the world are racing to create new battery technologies that use materials such as sodium and sulfur, or other innovative chemistries. They aim to reduce costs and reduce dependence on certain minerals for electric vehicles (EVs). China controls 90% of raw material processing for two of the most popular lithium-ion variants in today's electric vehicle market. The battery technology is constantly evolving, but its basic principles remain unchanged. It has three components: a cathode anode, and an electrolyte. Here are some of the battery types that are currently being used or developed by car manufacturers as they weigh...

Fossil Fuels

The EV industry is shaped by the competition between battery technologies

Startups around the world are racing to create new battery technologies that use materials such as sodium and sulfur, or other innovative chemistries. They aim to reduce costs and reduce dependence on certain minerals for electric vehicles (EVs). China controls 90% of raw material processing for two of the most popular lithium-ion EV variants. The battery technology is constantly evolving, but its basic principles remain unchanged. It has three components: a cathode anode, and an electrolyte. Here are some of the battery types that are currently being used or developed by carmakers as they consider long-term solutions. Use in batteries...

Oil & Gas Refining

Seven & i North American business IPO will fund faster growth, according to CEO

Seven & i Holdings, a Japanese convenience store operator, said that the planned listing of their North American operations will allow them to borrow additional money for accelerated growth. Stephen Dacus, the CEO of the company, said that the listing is scheduled for the second half 2026. This will allow faster store openings in the U.S. as well as additional bolt-on M&As. After successfully repelling a hostile takeover attempt from Canadian competitor Alimentation Couche-Tard, the fate of the struggling operator of 7-Eleven rests on the ability to grow independently. Couche-Tard retracted its $46 billion bid last month citing a failure...

Oil Refineries

Sources say that Asia is increasing its imports of US WTI oil as Middle East prices increase.

Trade sources say that Asia will increase imports of U.S. West Texas intermediate crude in the fourth-quarter after Middle East oil price increased and opened arbitrage window. They said that the price gap between light-sweet U.S.WTI oil and Middle East crude benchmarks Dubai & Murban has narrowed this month due to strong demand in Asia for high-sulphur oils. WTI's Arbitrage to Asia has been open for the last week for cargoes that arrive in early November. This was stated by June Goh, senior analyst at Sparta Commodities. Sources said that U.S. oil producer Occidental sold WTI crude to Japanese refiner...

Fossil Fuels

Sources say that Asia is increasing its imports of US WTI oil as Middle East oil prices increase.

Trade sources say that Asia will increase imports of U.S. West Texas intermediate crude in the fourth-quarter after Middle East oil price increased and opened arbitrage window. They said that the price gap between light-sweet U.S.WTI oil and Middle East crude benchmarks Dubai & Murban has narrowed this month due to strong demand in Asia for high-sulfur oil. WTI's Arbitrage to Asia has been open for the last week for cargoes that arrive in early November. This was stated by June Goh, senior analyst at Sparta Commodities. Sources said that U.S. oil producer Occidental sold WTI crude to Japanese refiner...

Fossil Fuels

Bessent: US will not rush trade deals before August deadline. We will speak with China.

Scott Bessent, U.S. Treasury secretary, said that the Trump administration was more concerned about the quality of trade deals than their timing. The deadline to secure a deal by August 1 or face steep tariffs is approaching. Bessent said in an interview with CNBC that "we're not going rush to do deals just for the sake doing them." Bessent responded that the decision would be made by Donald Trump, U.S. president. "We'll wait and see what the President wants to do." "But again, if somehow we boomerang to the August 1, tariff, I'd think that a high tariff level would...

Fossil Fuels

Japan's reality check on Couche-Tard’s grand retail dreams

Alimentation Couche-Tard, which owns Circle-K, pulled out of its $46 billion offer for Seven & i after a year-long pursuit. The Japanese consumers have emotional ties with the rice ball seller. After a year-long pursuit the Canadian company that owns Circle-K withdrew their bid after a "calculated campaign of obfuscation" and "delay" by Seven-Eleven and lack of engagement from its founding Ito Family. Couche-Tard announced the proposal for Seven & i in August of last year. Shareholders were pressing Seven & i to increase returns by selling assets and focusing its core convenience store business. Michael Causton, consultant at JapanConsuming,...

Oil & Gas

Couche-Tard withdraws its $46 billion bid to buy Japan's Seven & i

Alimentation Couche-Tard, a Canadian retailer, withdrew a $46 billion takeover bid for Japan's Seven & i Holdings. It blamed the lack of constructive engagement on the part of Japanese retailer. The 7-Eleven operator's "konbini stores" would have been the largest foreign acquisition of a Japanese firm. This is the timeline for the bid: AUGUST 19, 2020 Couche-Tard says that it has contacted Seven & i regarding a possible takeover. Both companies do not disclose the value of their offer. Seven & i shares surged almost 23%, to 2161 yen, valuing it at approximately 5.6 trillion yen (about 38 billion dollars)....

Oil & Gas

New York Times Business News - July 17,

These are the most popular stories from the New York Times' business pages. These stories have not been verified and we cannot vouch for the accuracy of these reports. After an extended year of negotiations, marked by dramatic turns and twists, Alimentation Couche-Tard announced that it would abandon its multi-billion-dollar bid to purchase the owner of 7-Eleven convenient stores. Indonesian President Prabowo Subianto confirmed Wednesday that the general outline of a new trade agreement between the United States and Indonesia was agreed. Under the agreement, U.S. goods exported to Indonesia will not be subjected to tariffs while Indonesian products in...

Oil & Gas

Couche-Tard withdraws its $47 billion bid to buy Japan's Seven & i

Alimentation Couche-Tard, a Canadian retailer, withdrew a $47 billion takeover bid for Japan's Seven & i Holdings. It blamed the Japanese retailer for ignoring its offer. The 7-Eleven operator's "konbini stores" would have been the largest foreign acquisition of a Japanese firm. Here is the timeline for a bid: AUGUST 19, 2020 Couche-Tard says that it has contacted Seven & i regarding a possible takeover. Both companies do not disclose the value of their offer. Seven & i shares surged almost 23%, to 2161 yen, valuing it at approximately 5.6 trillion yen (about 38 billion dollars). SEPTEMBER 6, 2020 Seven...

Fossil Fuels

Nikkei falls on ASML warning after Japan's chip shares are sold off

The Nikkei 225 index in Japan fell on Thursday as a result of a decline in shares related to chip-making tools after Dutch supplier ASML issued a warning about revenue. As of 0214 GMT the tech-heavy Nikkei index was down 0.3% to 39,544.62. The two largest drags on the index were chip-sector giants Tokyo Electron (down 0.3%) and Advantest (down 0.3%). Topix as a whole, on the other hand, only managed a 0.1% increase. Seven & i Holdings was the Nikkei’s largest decliner, in terms of percentage. It fell 7.8% when Alimentation Couche-Tard (Canada) ended its bid to take over...

Fossil Fuels

Couche-Tard withdraws its $47 billion bid to take over Seven & i

Alimentation Couche-Tard, a Canadian retailer, announced on Wednesday that it had withdrawn its $47 billion bid to acquire Seven & i Holdings. The company cited a lack "constructive engagement" with the Japanese family who founded the Japanese firm. Couche-Tard's attempt to merge Circle K and 7-Eleven into a global convenience-store giant with 20,000 stores ended after a year-long effort. In an effort to reduce regulatory obstacles, it had also agreed on a plan to sell stores. In a letter addressed to the board of directors, Couche-Tard stated that "we have sought to have a dialogue with the Ito Family on...

Crude Oil

Crude Oil

The French crisis is back, and so is the MORNING BID Europe

Ankur Banerjee gives us a look at what the future holds for European and global markets The markets have chosen to temporarily ignore the Trump v Fed drama, and instead focus on the political crisis in France. This has led to a steep selloff of stocks and bonds for the second largest economy in the eurozone. The gamble taken by Francois Bayrou, French Prime Minister Francois Bayrou to gain support for his unpopular plan of debt reduction has backfired Tuesday, causing the country's political and financial instability to worsen. FRENCH WORRIES Investors are keeping an eye on France’s blue-chip CAC40,...

Crude Oil

MORNING BID EUROPE-One last summer hurrah?

Gregor Stuart Hunter gives us a look at what's ahead for the European and Global markets. It may be that Jerome Powell is the cure to those summertime blues. As the Federal Reserve chairman prepares to speak at the annual symposium of the central bank in Jackson Hole (Wyoming), lethargic traders still needed a boost. The financial markets continued to drift as they waited for Fed officials' clues about the direction of monetary policies and the likelihood that a rate cut in September would be implemented after recent signs of weakness on the job market. S&P futures are flat. They...

Crude Oil

Asian shares fluctuating, Dollar steady as traders wait for Powell's speech

The Asian stock market started the day on a cautious note as traders anxiously awaited Jerome Powell's speech at the annual Jackson Hole Symposium. The financial markets are waiting for Powell to give clues on the likely likelihood of a rate cut for September, in light of recent signs of weakness of the job market and the short-term outlook for policy. Carol Kong, economist and currency analyst at Commonwealth Bank of Australia Sydney, said that markets are on edge before the Jackson Hole Speech. S&P futures gained 0.1% following a five-day losing spree on Wall Street. This puts the cash...

Mining

Mineral Resources

Mineral Resources

Indian Foreign Ministry: Quadruple important minerals for India and Japan

India's Foreign Ministry said that the Quad Group of countries was important to India and Japan, especially in relation to critical minerals. The ministry also stated that the two prime ministers would be discussing the grouping during this week. The Indian Prime Minister Narendra Modi will visit Japan from August 29-30 to attend the 15th India Japan Annual Summit. He will also hold discussions with his Japanese counterpart Shigeru ishiba. Modi will fly to Tianjin, a Chinese port city on the coast of the Pacific Ocean for the Shanghai Cooperation Organisation Summit (SCO), which takes place between August 31 and...

Mineral Resources

ASIA GOLD - Volatile prices dampen gold demand in major Asian hubs

This week, physical gold demand remained low in major Asian hubs as volatility in prices kept buyers away. However, jewellers in India recommenced purchases in advance of the festival season. The price of gold in India was around 99,300 rupies ($1,135.77) for 10 grams last Friday, after reaching a record-high of 102 250 rupies earlier this month. Jewellers have started to buy again after a price drop, as they are more confident of the festival demand. In October, Indians celebrate Dussehra (Diwali) and Diwali (Diwali), when gold is considered auspicious. Indian dealers quoted between a discount and a full price...

Mineral Resources

Tokyo Steel maintains product prices in September

Tokyo Steel Manufacturing, Japan's largest electric-arc furnace producer, said it would leave the prices of its steel products unchanged in September. This will help to bring the market back up after a period when demand was weak. This is the fourth month in a row that steel products have not seen a change in price, including its H-shaped beams. Prices for steel bars and rebar will remain unchanged at 85,000 yen (US$577) per metric ton in September. H-shaped beams, however, will be priced at 112,000 ($760) per ton. The company reported that domestically, steel activity in construction remains low due...

Mineral Resources

Japan steel groups are seeking reforms to prevent tariff evasion, as China exports soar.

Japanese steel lobby groups have demanded early measures to stop the evasion and avoidance of anti-dumping duties aimed at protecting the domestic industry from unfair imports. This move coincides with record steel exports by China, the largest producer in the world, which have sparked protectionist reactions around the globe. Since January of last year, almost 40 countries have launched anti-dumping investigations. The Japan Iron and Steel Federation and other four industry groups have said that swift action is required as countries like China try to avoid antidumping tariffs by routing their exports through a third country or performing minimal processing...

Mineral Resources

Indian miner IREL looks for partnerships with Japan and South Korea to produce rare earth magnets

A source familiar with this matter has confirmed that India's state owned miner IREL wants to work with Japanese and South Korean firms to begin commercial production of rare-earth magnets as part of its efforts to reduce reliance upon China. The company is looking at both Japan and South Korea for rare earth processing technology, potentially through government-to-government channels, the source said, declining to be named as the discussions are not public. Source: The miner plans to formalise discussions with other countries about rare earth mining and technologies partnerships, and seek IREL approval for commercial magnet production in this year....

Mineral Resources

Hudbay Minerals sells 30% stake in Arizona copper mine project for $600 Million

Hudbay Minerals announced on Wednesday that Mitsubishi Corp would buy a 30% share in its Copper World Project in Arizona for $600,000,000, providing a boost to the financing and strategic support for the U.S. Copper Mine. The transaction is expected to be completed later this year or early next. Why it's important Last month, U.S. president Donald Trump imposed tariffs of 50% on copper pipes and wiring, and other semi-finished goods. However, he exempted raw materials like ores and refined copper cathodes. Hudbay's "Made in America copper" production will strengthen the domestic chain, according to Hudbay. CONTEXT Copper World is...

Mineral Resources

Japan launches anti-dumping investigation into hot-dip-galvanized steel imported from China and S.Korea

The Ministry of Economy, Trade and Industry of Japan announced on Wednesday that it has opened an anti-dumping probe into hot-dip-galvanized steel imported from China and South Korea. The investigation follows a petition filed on April 28 by Nippon Steel (Kobe Steel) and other domestic manufacturers claiming that weaker demand at home and the shift to cheaper imports forced them to reduce prices. In construction, hot-dip galvanized metal is used for metals that are exposed to the weather. METI stated that Hong Kong and Macau are excluded from the investigation. Japan began its investigation of nickel-based cold-rolled stainless steel sheets...

Mineral Resources

ASIA GOLD - Price rise dampens activity in major Asian hubs

This week, physical gold demand in major Asian hubs declined as rising prices dampened interest in buying while higher rates encouraged others to sell their holdings. Gold isn't a popular purchase at the current prices. Some investors are selling the gold bars and coins they bought when prices were cheaper, said Ashok Jain of Mumbai's Chenaji Narsinghji. On Friday, gold prices in India were around 102.100 rupees (1,165.45 dollars) per 10 grams after reaching a record-high of 102.191 rupees. Indian dealers have this week offered a discount The discount last week was up to $7. A Mumbai-based dealer of bullion...

Mineral Resources

Mitsubishi Materials, Japan, may reduce copper smelting because of declining margins

Mitsubishi Materials, Japan's copper concentrate processor, is looking at reducing the amount of copper concentrate processed in its Onahama Smelter & Refinery due to falling treatment and processing costs (TC/RCs), it announced on Monday. JX Advanced Metals, a competitor, announced in June that it would also consider reducing copper production due to the significant decline in ore purchasing terms. Mitsubishi Materials warned that the worsening TC/RCs of miners would further reduce smelting profits. The company stated that in order to maintain and improve profits, it was necessary to increase the proportion of recycled raw materials. It also needed to accelerate...

Mineral Resources

Japan's Mitsubishi Q1 profits down 43% but still beat expectations

Japanese trading house Mitsubishi posted a net loss of 203.1 billion Japanese yen (about $1.4 billion) for the three-month period ending June 30. This was down 43% compared to a year earlier, but still beat analysts' expectations. A LSEG survey of analysts predicted that the company would post a net profit of 180.3 billion yen for its first quarter. Mitsubishi's net profit for the same period in last year was 354.4 billion yen. The company reported that this year's profit was down mainly due to the lack of gains from asset sale and the lower prices of the Australian steelmaking...

Mineral Resources

JFE Holdings' first-quarter profits down 74% and misses expectations

JFE Holdings posted a net profit of 7.1 billion yen (48 million dollars) on Monday, down 74% compared to a year ago and below analysts' expectations. Analysts surveyed by LSEG had predicted that JFE Holdings would report a quarterly net profit of 16.1 billion yen. In the same period last year, the company made 27.5 billion yen. It reported that its crude steel production during the period was 5,28 million metric tonnes, down from 5,48 million tons one year earlier. The company also suffered from lower export profits and foreign exchange fluctuations. JFE Holdings has maintained its profit forecast of...

Mineral Resources

Nippon Steel warns about a full-year loss after $1.3 Billion Q1 shortfall

Nippon Steel revised its forecast on Friday for the full fiscal to a loss of 40 billion yen (266 million dollars) from a profit of 200 billion yen previously. This was partly due to costs associated with its acquisition by U.S. Steel. After 18 months of trying to get the U.S. Government to approve the deal due to concerns about national security, Nippon Steel closed its $14.9billion acquisition of U.S. Steel in June. Nippon Steel announced that its full-year results would be affected by a special loss related to the U.S. Steel transaction, namely a loss of 231.5 bn yen...