NewsRoom Articles - Page 154 of 194

MondaySep 20, 2021 2:30 pm

Gold Rally May Have Hit Plateau

Since the height of the pandemic, the price of gold has been hitting record highs. Last week, the price of gold also rose after the publication of lower than expected nonfarm payrolls. However, this was short lived as the price declined later in the week, falling below $1,800 on Wednesday. This decline is bearish for the yellow metal and shows its inability to maintain gains in the current environment, which displays the metal’s innate weakness. It should be noted that the recent drop in gold prices was at least partly brought about by new developments in the financial markets, such…

FridaySep 17, 2021 2:30 pm

Vistra Energy Concludes Expansion at Largest Battery Storage System in California

The Moss Landing battery system expansion project, dubbed the BESS project, has been concluded. At phase 1, the storage facility reached 1,200 MWh and now with the completion of phase 2, the facility is at 1,600 MWh. Vistra Energy, a power-generation company, brought this project online last year in December at a site that was previously occupied by natural gas turbines at its power plant in the Monterey County, California. LG Energy Solution, which was the project’s Li-ion battery rack supplier, and Vistra Energy celebrated the completion of phase 2 by holding an event that was attended by both companies…

ThursdaySep 16, 2021 2:30 pm

ClearPath Finds That Nuclear Power Is Essential for Decarbonization

ClearPath, a not-for-profit organization, states that in addition to longer operation for nuclear power plants and utility commitments to net-zero emissions, public policy is needed to help avert the plateau to 2050. In a new report, the DC-based organization warned that continued load growth in states that don’t have climate targets and the closure of existing nuclear plants, as well as the exhaustion of economic coal-to-gas shifting in the future, would result in shallow decarbonization. The company expects carbon dioxide emissions to stop decreasing after 2025 and plateau until 2050, even with the recently enacted state-level clean energy standards and…

WednesdaySep 15, 2021 12:30 pm

Post-Lockdown Demand for Batteries Good for Lead Market

Lead is widely used in cable sheathing, ammunition, pigments and, most importantly, car batteries. In July, the metal hit a new high of $2,343 per ton, its highest figure in three years. This high was driven by the resurgence of demand for lead-acid batteries post-lockdown as more motorists return to the roads. Before this, in June, the cash premium over the anchor London Metal Exchange lead price was $35 per ton. This is the most serious squeeze on cash metal since February last year. Much like prior periods of tightness, the squeeze is likely the result of a position clash…

TuesdaySep 14, 2021 12:29 pm

Dismal Jobs Report Boosts Gold While Depressing Dollar

Forecasts released earlier in the year estimated that the U.S. economy would introduce 735,000 jobs in August. However, a report released last week found that last month only about 233,000 jobs were added. This was well below the forecast and is the smallest gain thus far. The dollar fell after the report was released, which in turn boosted the demand for metals such as gold, which hit a four-week high of $1,820.45. Gold futures also increased by roughly 1% to $1,833.80 while palladium increased slightly, to reach $2,407. Spot silver also increased by about 2%, hitting $24.40 per ounce while…

MondaySep 13, 2021 12:28 pm

Scientists Seek Solutions to Degradation of Li-ion Battery Performance

A team of researchers at the University of Southern California has developed a solution that averts the degradation of the structural integrity of li-ion batteries. This degradation is what causes the decline in the battery’s functionality over time. The solution involves stretching battery elements to allow them to be cycled over and over without structural fatigue. The researchers’ paper was reported in the “Journal of Mechanics and Physics of Solids.” In their paper, the researchers explain that a lithium-ion battery normally works through a repetitive cycle of extracting and inserting lithium ions from electrodes. This process compresses and expands the…

FridaySep 10, 2021 2:45 pm

A Review of Vanadium’s Market Performance for First Half of 2021

As economies across the globe recovered from the impact of the coronavirus pandemic, experts forecasted an increase in the demand for vanadium. The majority of the vanadium produced globally is used in the production of steel in China. Here’s a review of vanadium's market performance in 2021, particularly for the first half of the year, as well as what some experts and analysts expect for the future. Price The vanadium market struggled to navigate the uncertainty brought on by the COVID-19 pandemic last year. During the pandemic period, the demand for the metal increased by 7% in China but declined…

ThursdaySep 09, 2021 2:15 pm

The Top Four Global Producers of Vanadium

Vanadium is a silver-gray metal used to make various metal alloys and particularly in the manufacture of ferrovanadium. Ferrovanadium is an alloy of vanadium and iron used in steel production. Recently, countries that produce vanadium have greatly benefited from infrastructure spending in China and around the world. Global economic recovery, coupled with the growing interest in vanadium redox batteries, could further drive the demand for the metal as well as increase its price. This is despite the decline in the production of vanadium in the recent past. Data from the U.S. Geological Survey shows that mined production of the metal…

TuesdaySep 07, 2021 2:20 pm

Aluminum Price Hits New Highs After Supply Concerns Grow

Last week, the price of aluminum hit a new three-year high as concerns about supplies from China, which is the world’s top producer of the metal, increased after the Xinjiang region in the country began imposing output curbs on smelters. For example, last Friday, benchmark aluminum on the London Metal Exchange had increased by 1.5%, hitting almost $2,670 by noon. Earlier in the session, prices had gone up to $2664.50, which is the metal’s highest price since April 2018. On the Shanghai Futures Exchange, the price of aluminum set a new record, with the last time prices had gone that…

FridaySep 03, 2021 2:15 pm

Gold Rises on Fed Remarks Regarding Dialing Back Monetary Intervention

The price of gold increased last week as Jerome Powell, the chairman of the Federal Reserve, gave his virtual speech at the Jackson Hole symposium. By noon, spot gold had risen slightly above 1%, reaching $1,811.50 per ounce, exceeding the $1,800 level for the second time in the week. In New York, U.S. gold futures were trading at $1,811.61 per ounce, a 0.9% increase. In his speech, Powell stated that the economy has reached a point where it doesn’t need as much policy support, adding that the Fed would begin to decrease its monthly bond purchases before the year’s end.…

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