Mining

Commodity Traders Harvest Billions While Prices Rise for Everyone Else

Commodity Traders Harvest Billions While Prices Rise for Everyone Else

Clockwise from top left: Lithium, steel, corn, copper, oil, salt, aluminum, diesel fuel and iron. Source: Bloomberg (7), Getty Images (2) From oil to steel, raw material prices are surging. As the world economy recovers, how much further does the boom have to run? Doug King set up his hedge fund in the early days

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Glencore has some stunning figures on the levels of battery metals the world will need by 2050

Glencore has some stunning figures on the levels of battery metals the world will need by 2050

Cars of the future will drive demand for battery metals. Picture: Tron: Legacy, Walt Disney Pictures Commodities producer and trader Glencore has put some bold numbers on the volumes of battery metals needed to supply the world as its moves away from fossil fuels usage. The London-listed company has modelled the quantities of cobalt, copper,

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business

Apple Wants to Buy Cobalt Directly From Miners

The iPhone maker is reportedly keen to secure several thousand metric tons of cobalt, a key ingredient used to power smartphone batteries, for five years or longer, the anonymous sources said. Apple, one of the world’s biggest users of cobalt, is believed to have first opened talks with miners over a year ago in a bid to avoid getting caught out by potential future shortages of the raw material. Two-thirds of supplies come from the Democratic Republic of Congo.

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