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A group of Republican and Democrat senators, along with the United Steelworkers (USW), are calling on President Joe Biden to hike United States tariffs on imported aluminum to save American jobs. In a letter to Biden’s Commerce Department Secretary Gina Raimondo, the senators warn that aluminum extrusion plants in the U.S. are at risk of being eliminated as a result of imported aluminum extrusions.

TOKYO -- The asking price for precious metals commonly found in catalytic converters has fallen to lows not seen in several years as demand declines in China, the world's largest automobile market. The most commonly traded futures for palladium hit a price of $1,204 per troy ounce in the New York market on June 28, a low not seen in four and a half years. The metal currently trades around $1,240, down 30% from the beginning of the year. Catalytic converters in automobile exhaust systems use precious metals such as palladium to transform harmful gases into less-toxic pollutants. Russia produces...

Dark chocolate has a reputation as a relatively healthy treat, but research showing some popular bars might have potentially unsafe levels of heavy metals has many questioning how safe these treats are. Consumer Reports tested 28 popular dark chocolate bars from Seattle’s own Theo Chocolate to Trader Joe’s, Hershey’s to Ghirardelli, and even smaller brands such as Alter Eco and Mast. The study found cadmium and lead in every single bar. With Valentine’s Day around the corner, Consumer Reports last month called on chocolate makers to commit by Feb. 14 to reducing levels of heavy metals in their bars. The...

Get ready! The mad dash for metals is here! Copper set to be most valuable opportunity in race to net zero Electric vehicles and wind turbines are main demand drivers. Rising demand for energy transition metals is essentially a given at this point. The real question is whether there will be enough supply. As things currently stand, lots of these metals, including copper and cobalt, are at risk of a shortfall in the coming decades unless current reserves can be supplemented with new geological discoveries and projects, and recycling of old material is stepped up. Many countries have known resources...

The Manhattan apartment and Southampton mansion of a Russian oligarch with close ties to President Vladimir Putin were raided by federal agents on Thursday, according to the FBI and a report. An FBI spokesperson confirmed agents “conducted law enforcement activity” at the Upper East Side high-rise and Long Island estate linked to billionaire Viktor Vekselberg, but declined to comment further. FBI officials and Homeland Security Investigation agents were seen carrying boxes out of Vekselberg’s 515 Park Ave. apartment building and his Southampton mansion at 19 Duck Pond Lane, according to NBC New York, which first reported the searches. The US...

GARDENERS have been warned that their habit could leave them at an increased risk of heart disease. Medics found that pollutants in the soil could have a 'detrimental effect on the cardiovascular system'. The results of the analysis pushed experts to recommend that people wear a face mask, if they are in close contact with the soil. Experts at the University Medical Center Mainz, Germany said pollution of air, water and soil is responsible for at least nine million deaths each year. They highlighted that more than 60 per cent of pollution-related deaths are due to heart issues such as...

Ford Motor Co.’s hot-selling Mustang Mach-E electric SUV and other plug-in models are being rendered unprofitable by rising raw material costs. “We actually had a positive bottom line profit when we launched the Mach-E, commodity costs have wiped that out,” Chief Financial Officer John Lawler said Wednesday at the Deutsche Bank Global Automotive Conference, referring to 2020, when the vehicle went on sale. “You’re going to see pressure on the bottom line when we launch our EVs, they’re not going to be positive.”

The race to a low-carbon future via electric vehicles already comes with a hefty price tag. But that price tag may enlarge even more in the coming months if the skyrocketing cost of lithium serves as any indication. What are the details? The cost of lithium carbonate — a key ingredient used in the manufacturing of electric vehicle batteries and other low-carbon energy resources such as solar panels — has jumped 95% already in 2022, and is up almost 500% year-over-year. According to Benchmark Mineral Intelligence, a leading price reporting agency, battery-grade lithium carbonate (EXW China, ≥99.5% Li2CO3) was averaging...

resident Joe Biden and Transportation Secretary Pete Buttigieg were roundly mocked by conservatives last week for suggesting that working-class Americans struggling to pay the ever-climbing prices at the pump should consider simply buying an electric vehicle instead. It was the Biden-era equivalent of Marie Antoinette’s (admittedly apocryphal) adage, “Let them eat cake.” Yet this simple solution floated by Democrat elites might just be even more fantastical than expecting average Americans to be in the financial position to switch to an EV as they struggle to afford groceries. Turns out, the U.S. doesn’t only rely on Russia for oil imports —...

MOSCOW (Mineweb.com) -- It is almost forty years since those fine falsettos, the Bee Gees, put their pop classic, “Massachusetts”, on the top of the charts. They had no idea that their lyrics might become the alleged plot of a scheme by a trio of Ukrainian metal men to steal hundreds of millions of dollars in proceeds from the processing of manganese ore, and the sale of ferromanganese, ferrosilicon, and silicomanganese to steelmakers around the world. “And the lights all went out in Massachusetts,” sang Robin and Barry Gibb. “They brought me back to see my way with you.” On...

As the new year begins, investors are wondering what the year ahead will hold. Will the U.S. stock market continue to break records? Or will we see a catastrophic correction and recession?Everywhere I look, pundits are talking about the overvaluation of the stock market and the potential for market crashes ahead.It’s true, the stock market has gone up a lot over the last couple of years. The Dow is up almost 97% from its pandemic low in March 2020. The S&P 500 is up 114% over the same time.Yet, bull markets don’t end because they run out of buyers. They...

Leftist Congressman Gabriel Boric, 35, will become the youngest president in Chile’s history after winning a comfortable victory in the South American nation’s most polarized election since its return to democracy more than 30 years ago. With virtually all of the vote counted, the millennial progressive who burst into prominence a decade ago as a shaggy-haired student protest leader had garnered almost 56% of the ballots. That compared with about 44% for his opponent, José Antonio Kast, 55, a far-right career politician and admirer of Chile’s former military dictatorship. *** the results represented the latest triumph for the left in...

Afghanistan’s newly ensconced Taliban regime has been looking to China for major economic support, but the Taliban’s lithium-mining invitation to South Korea has displeased the Chinese Communist Party (CCP). To keep Beijing happy, the Taliban offered it copper mining rights.Enduring 20 years of war, Afghanistan is one of the poorest countries in the world. According to the World Bank, Afghanistan’s gross domestic product (GDP) in 2020 was $19.8 billion (compared to the United State’s $20.93 trillion), and its GDP per capita was only $508.8 (compared to United State’s $63,543.6). Former Afghan President Ashraf Ghani revealed last year that 90 percent...

Out of ControlAmerican workers are trying to make their way in an economy that’s rigged against them. We made this claim many years ago. Today, for fun and for free, we revisit this assertion…starting with the latest from those doing the rigging. This week, after a two day meeting, the Federal Open Market Committee (FOMC) released their statement. Nothing material changed. The Fed will continue to hold the federal funds rate near zero. The Fed will also continue to create at least $120 billion per month from thin air to buy Treasuries and mortgage-backed securities. Bond yields spiked and the...

Copper for delivery in July was up 1.71% by 1:42 pm (EDT), with futures at $4.6015 per pound ($10,123 a tonne) on the Comex market in New York, over the $4.58 per pound high reached in February 2011. 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. Copper has gained 28.1% since the end of last year and is up 114.9% from its 2020 low, hit in March of that year amid the global economic fallout...

Link only: https://www.bloomberg.com/news/articles/2021-05-04/sam-zell-buys-gold-with-inflation-reminiscent-of-the-1970s

Copper futures hit their highest levels in ten years on Monday as several factors, including supply concerns, a weaker dollar, the Biden administration's plan to improve infrastructure, growth in renewable energy, and China's increasing demand, continue to fuel expectations of higher demand for the industrial metal. The dollar continues to edge lower Monday amid speculation Federal Reserve Chairman Jerome Powell will not announce tapering at this week's meeting, fueling higher copper prices. Meanwhile, traders are concerned about supply due to a strike in Chile.  "We are in for a good run higher as we are having supply issues. Chilean...

Update (1100ET): For some background on just how unprecedented this weekend's action in silver markets is, Tyler Wall, the CEO of SD Bullion writes the following (emphasis ours): In the 24 hours proceeding Friday market close, SD Bullion sold nearly 10x the number of silver ounces that we normally would sell in an entire weekend leading to Sunday market open. In a normal market, we normally can find at least one supplier/source willing to sell some ounces over the weekend if we exceed our long position (the number of ounces we predict we will sell over the weekend). However, everyone...

Most investors who focus on precious metals and commodities know that gold had a great year in 2020, up 24.6%. However, not as many know that silver did even better! Silver was up 47.4% in 2020, rising from $17.80 per ounce on January 2, 2020, to $26.35 per ounce on December 31, 2020. Silver didn’t just outperform gold in 2020; it also outperformed every other major asset class, including U.S. small cap stocks (up 18.5%), U.S. stocks (up 15.5%), U.S. corporate bonds (up 9.7%) and U.S. Treasuries (up 3.6%). Many other asset classes declined in price in 2020, including commodities,...

Swiss refiners — chief among them Valcambi — are under scrutiny due to the high risk of conflict gold originating in Africa entering their supply chain via the United Arab Emirates. Two parallel NGO reports on the subject were published on Thursday. This content was published on July 16, 2020 - 18:00 July 16, 2020 - 18:00 Dominique Soguel-dit-Picard See in another language: 1 One of the reports, Golden Detour [Détour Dorée] by Bern-based Swissaid, examines the gold trade in the UAE, with a focus on the scandal-stricken Dubai company Kaloti Precious Metals and its ties to Valcambi, a precious...