The Strategist
Markets & Industries

Electric cars become major source of cobalt demand for the first time - 05/18/2022

Electric cars have become a major source of cobalt demand for the first time, overtaking smartphones. Experts warn of risks of cobalt shortages after 2024. Electric cars have overtaken smartphones and computers for the first time to become the top source of cobalt demand by 2021, the Financial Times said, citing a report by the Cobalt Institute. Cobalt is a by-product of copper and nickel mining,...

EIA: Oil production in major US oil and gas areas to rise in June - 05/17/2022

According to the Energy Information Administration (EIA) of the US Energy Department, oil output in the primary US oil and gas producing areas, which includes shale oil, would increase by 142,000 barrels per day, or 1.6 percent, to 8.761 million barrels in June compared to the present month. The Permian Basin will increase output by 88,000 barrels per day to 5.219 million barrels per day, the...

Bloomberg: Stronger dollar makes the global economy fall deeper - 05/16/2022

According to Bloomberg, the US Federal Reserve's interest rate hike and the strong dollar are hurting global economic development. Emerging economies have been particularly vulnerable, partly due to capital flight. The dramatic rise in the value of the dollar this spring has pushed the global economy even deeper into synchronized recession. This is driving up borrowing costs and causing...

Retail sales in China decline in January-April - 05/16/2022

Consumer goods retail sales in China declined 0.2 percent year on year to 13.81 trillion yuan ($2.03 trillion) in January-April, according to figures released by the country's national statistics bureau on Monday. Online retail sales grew 3.3 percent. In the period under review, urban retail sales declined 0.3 percent year on year to 11.99 trillion yuan ($1.76 trillion). Sales in the countryside...

Asian currencies hit multi-year lows against US dollar - 05/13/2022

On Thursday, Asian currencies fell to multi-year lows versus the US dollar, as the latest inflation data fueled the US currency's surge. The dollar had strengthened significantly against various Asia-Pacific currencies by the close of the trading day in Hong Kong, including Australia, China, and South Korea. The strengthening of the dollar is due in part to increased demand for US assets such...

Shortage of infant formula observed in the USA - 05/13/2022

President Joe Biden has personally intervened to remedy the newborn formula crisis, promising to remove bureaucratic barriers to increase supply and threatening speculators. The shortfall of formula is estimated to be 40-50 percent, big merchants have begun rationing single-handed supplies, and the political establishment is discussing whether American kids should be prioritized before those of...

Economic expectations index in euro area falls to its lowest since 2008 - 05/10/2022

The index of economic expectations in the euro area fell to minus 34 points (from minus 29.8 points in April), which was the lowest since December 2008, according to research group Sentix. The eurozone's index of investor confidence in the economy fell to minus 22.6 points in May from minus 18 in April, the lowest since June 2020. The index of current economic conditions fell to minus 10.5 points...

Saudi Aramco lowers June oil prices for EU and Asia - 05/09/2022

Saudi state-owned oil and gas company Saudi Aramco has cut crude oil prices for Asia and the European Union by 50% or more for June compared with the month of May, leaving them at the level of May for the United States, Reuters reported, citing an Aramco report. "Saudi Aramco cut by more than 50 percent the official selling price of Arab Light crude for June for northwestern Europe to about $2.10...

Brazil's central bank raises key rate by 100 basis points - 05/05/2022

According to a statement on the Central Bank of Brazil's website, the Monetary Policy Committee of the Central Bank of Brazil (Copom) has lifted its benchmark rate for the eleventh time in a row to 12.75 percent. "Copom voted unanimously to boost the benchmark interest rate to 12.75 percent per year, an increase of 1.00 percentage point. The committee recognizes that this decision reflects...

India's coal production grows by 8.55% in fiscal year 2021-2022 - 05/04/2022

India's total coal production in fiscal 2021-22 has been tentatively estimated at 777.02 million tonnes, the country's coal ministry said. "The total coal production in fiscal 2021-22 was 777.02 million tonnes (provisional) as against 716 million tonnes in fiscal 2020-21, recording an increase of 8.55%. Coal India Ltd's (state-owned coal mining corporation) production increased by 4.43% from...
1 2 3 4 5 » ... 151