4 August 2023 – The U.S. Department of Energy has expanded its critical materials list in a recent assessment. And found that global nickel demand could lead to critical supply risks. And spot rates for container shipments jumped upward last week.
U.S. Department of Energy expands critical materials list
The U.S. Department of Energy (DOE) recently released a new assessment of critical materials in clean energy technology supply chain security. In doing so, DOE also paid special attention to raw materials that are often perceived to be infinitely available, such as copper, aluminum, and electrical steel, but also nickel, silicone, and magnesium, could be close to critical availability and/or even become critically available (e.g., nickel and lithium) in the medium term, according to DOE.
Global nickel demand could lead to critical supply risks
Also, the report addresses the increasing demand for stainless steel in power generation and transportation, which could lead to increasing competition between alternative energy and stainless steel production for nickel requirements. The Department of Energy also points out, among other things, that while stainless steel can be recycled indefinitely, the nickel contained in stainless steel precisely could not be recovered separately and used in the production of EV batteries, for example.
Spot rates for shipping containers jumped
Spot rates for shipping containers jumped by the most in more than two years. Last week, Drewry’s World Container Index increased by 11.8% per 40-foot container. Following 4 consecutive weeks of increases, this week’s composite index is the highest since the second week of May 2023. Logistics experts expect further improving trade dynamics for the second half of 2023 under the given conditions.
The Stainless Espresso: Short creative break
The Stainless Espresso and steelnews.biz are taking a creative break until August 20, 2023, and will be back at your service with hot, critical, provocative news and a lot of positive energy starting Monday August 21.
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Until then: always remember not to rely on just one source for your economic decisions.
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