Energy crisis spotlight

What the energy crisis means for commodity markets across the globe

The current energy crisis in Europe as a result of Russia’s invasion of Ukraine earlier in 2022 means that the prices of fuel oil, gas and electricity have soared. Russia has turned off the taps on natural gas to Europe, leaving countries scrambling to diversify their energy sources. Across the continent, producers of key raw materials including aluminium and steel are facing a weaponization of the energy they need for production. This has sent the cost of power soaring.

Keep up-to-date with not only how this is impacting commodity markets across Europe, but also what this means for Europe’s plans to achieve net-zero greenhouse gas emissions by 2050. Will we see a boost in the production of the critical minerals needed to produce batteries for electric vehicles? Or, will the energy requirements to run these gigafactories be too much?

Read our LME Week 2022 coverage
Battery materials, specifically nickel, dominated many conversations during LME Week 2022
Key battery raw materials such as cobalt and lithium were among the main discussion points at London Metal Exchange (LME) Week during the week of Monday, October 24
Chilean mining minister Marcela Hernando was at pains to dispel any worries that the mining industry may have about the position her country’s government takes on mining, when she attended the London Metal Exchange’s LME Week event, October 24-28
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