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Market News: India may allow import of genetically modified animal feed from the United States in trade agreement.On July 3, the National Energy Administration organized a mid-term work meeting for the pilot survey of wind power and photovoltaic power generation resources on the morning of July 2. The meeting fully affirmed the achievements of the survey work and made arrangements for the next step of work, emphasizing that the wind and solar resource survey pilot work should adhere to the requirements of "high position, high standards, and high efficiency", further improve the awareness of the importance of the resource survey pilot work, and integrate quality requirements throughout the entire survey process. It is necessary to deepen the coordination of all parties, speed up the progress of work, focus on the application value of results, and promote the high-quality construction of the national new energy system with the results of high-level survey pilot work. The meeting reviewed and approved the "Technical Guidelines for the Pilot Survey of Wind Power and Photovoltaic Power Generation Resources" and the "Notice on Doing a Good Job in the Management of Regional Wind and Solar Resource Observation Network Data".U.S. Treasury Secretary Bessant: Economic growth is expected to exceed 3%.British Chancellor of the Exchequer Reeves: This work is very difficult.British Chancellor of the Exchequer Reeves: I am proud of what we have achieved over the past year, but there is still more work to do.

Tesla May Invest in Lithium Mining as Musk Discusses Battery Metal Costs

Haiden Holmes

Apr 11, 2022 09:37

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Lithium has joined the commodities market upheaval in the aftermath of Russia's conflict on Ukraine. Even prior to the conflict, raw material prices soared as demand increases and availability were constrained by pandemic-related supply chain problems. Benchmark Mineral Intelligence's gauge of worldwide lithium prices has increased about 490 percent in the last year. China is so concerned about lithium pricing that it has gathered a diverse group of market participants for two days of negotiations aimed at preventing a meteoric rise in prices.


Because lithium is a critical component of electric car batteries, manufacturers are scrambling to secure supply ahead of a worldwide push toward electrification of transportation. Tesla has secured supply agreements with battery metals makers in the last couple of years, including one with mining giant Vale SA (NYSE:VALE).


Following the lithium price surge, China has already communicated to its EV battery supply chain that it wants lithium prices to revert to reasonable levels, as rising costs have raised manufacturers' cost inflation and threatened to ultimately harm consumer demand.