Gold resumed declines as traders focused on the prospect of prolonged energy-market tightness despite Israel and Iran agreeing to end attacks and as some investors reacted to negative technical signals.
SQM reported a sharp increase in first-quarter profit and raised its lithium sales forecast, betting that robust demand from battery storage systems will keep the market tightly supplied.
The Sociedad Quimica y Minera de Chile (SQM) chemical plant in Antofagasta, Chile, on Thursday, March 14, 2024. After a spectacular bust, battery-metal lithium is showing tentative signs of life on speculation the retracement that convulsed the market last year has forced the conditions for a recovery. Photographer: Cristobal Olivares/Bloomberg
SQM reported a sharp increase in first-quarter profit and raised its annual lithium sales forecast as robust demand from battery storage systems helps drive a recovery in prices.
US Steel said investments to upgrade its Mon Valley operations in Pennsylvania could total as much as $2.5 billion, more than double Nippon Steel Corp.’s minimum commitment as part of its takeover offer for the American company.
The US Steel Corp. Mon Valley Works–Irvin Plant behind homes in Glassport, Pennsylvania, US, on Sunday, April 7, 2024. The Japanese bid to take over United States Steel Corp. had widely been viewed as a slam-dunk offer — the only sticking point was winning over the union and, in turn, its political leverage.
The company seeking to build Chile’s first rare-earth mine is in talks with US International Development Finance Corporation as the Trump administration moves to loosen China’s grip on critical minerals.
View of magnesium chloride mountains of the lithium mine of the Chilean company SQM (Sociedad Quimica Minera) in the Atacama Desert, Calama, Chile, on September 12, 2022. - The turquoise glimmer of open-air pools meets the dazzling white of a seemingly endless salt desert where hope and disillusionment collide in Latin America's "lithium triangle." A key component of batteries used in electric cars, demand has exploded for the "white gold" found in Argentina, Bolivia and Chile in quantities larger than anywhere else in the world. Photographer: Martin Bernetti/AFP/Getty Images
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