pierce It’s been an on-again, off-again battle — but one of the world’s largest and most critical new energy infrastructure projects got off the ground this week. That’s a 770-kilometer crude oil pipeline in the Southeast Asian nation of Myanmar. Owned and built by China — and giving that country unprecedented access to crude flows in … Read more
The biggest story in gold the past year has been India. With the world’s former largest gold importer seeing a 21% fall in shipments during 2016, to just 676 tonnes. But news this week suggests India’s gold demand is coming back to life — for the first time in nearly a year. Preliminary statistics on … Read more
The natural gas market in North America is fretting about over-supply. But in another one of the world’s key natgas centers, the problem is exactly the opposite this week. The place is Western Europe. Where unexpected events may have tipped natgas into shortage — pushing prices higher. On Monday, the government of the Netherlands announced … Read more
Strange and unsettling developments emerging late last week — from one of the world’s key oil-producing countries. Venezuela. The Venezuelan government Friday issued a decree that, for the first time, allows the country’s military to take direct involvement in natural resources projects. The government will do this by creating a new military company. Which is … Read more
Libya’s largest oil field survived a scare. Production at Sharara dipped after an armed group invaded, but then recovered. Donald Trump lifted resource development. The U.S. Interior Department is repealing Obama-era environmental rules. China’s zinc imports soared. A 31% jump in H1 2017 imports could help propel prices even higher. OPEC production hit a year high. July output rose, casting doubt on the recent … Read more
Critical news for developers of bulk commodities across Europe and Asia this week. China and London are now connected by rail. The China Railway Corporation said this week it has launched the first-ever direct rail freight service between China and London. With a train leaving Yiwu station to embark on an 18-day, 7,400-mile journey that will cover the … Read more
Two items generated a lot of feedback from Pierce Points readers last week: the continued rise of the lithium mining sector, and big moves made by China’s Silk Road infrastructure fund in Asia. And over the weekend, more critical developments emerged on both of these fronts. In lithium, it was the possible sale of a control position in one … Read more
A few offhand comments last week may show a massive new plan underway in global copper investment. One that could see major consumer China take the metals world by surprise. Reuters reports that high-level Chinese officials gave some strong hints of such a move at an industry conference last week in the southwestern city of … Read more
Major news in the gold market over the weekend. With the world’s largest gold-consuming nation reaching an agreement to resume metal sales for the first time in nearly three weeks. That’s in India. A critical gold consumer globally, where buying had been idled since the beginning of March by a nation-wide strike by the jewelry sector. … Read more
Glencore outbid China on coal. The major miner stepped in with an 11-hour offer on Rio Tinto’s Australia mines. India’s new taxes spurred gold buying. Buyers are snapping up bullion ahead of the July 1 imposition of a 3% sales duty. A Libya deal torpedoed the oil price. The country will restart 160,000 b/d of output, just as OPEC is trying to cut. South Africa, … Read more