Cobalt is a critical mineral used in numerous commercial, industrial, and military applications.
In recent years, it has gained attention as it is also necessary for batteries used in cell phones, laptops, and electric vehicles (EVs). This graphic by Elements / Visual Capitalist illustrates estimated cobalt production by country in 2023 in metric tons. The data is from the most recent U.S. Geological Survey (USGS) Mineral Commodity Summaries, published in January 2024.
BREAKING: US crude oil production has officially hit a record 13.4 million barrels per day.
Daily oil production has increased by 22% over the last 4 years. Since 2008, production has skyrocketed 350% from ~3.8 million barrels per day. The US is now the world’s largest oil producer exceeding Russia's output by ~35% and Saudi Arabia by ~38%. The US is dominating global oil production. Source: The Kobeissi Letter, The Daily Shot
Copper Inventories have jumped to the highest level in more than 4 years signaling weak demand in Asia!
Source: Bloomberg, Barchart
US crudeoil production hit a record high.
Source: The Daily Shot
'It is a misconception that commodities fall in a recession - on average they rally through one.'
Source: Bloomberg
China commodity stockpiles
Source: Robert Friedland on X, The Economist
🚨 GOLD HITS $2,453 - A NEW ALL TIME HIGH 🔥
🔉 Just as Powell signals rates cuts before inflation comes down to 2%... Source: Bloomberg
Copper's $5 level reminds of the gold's critical $2,000 mark
nce gold breached that resistance, it kept moving with authority. Are we setting the stage for a similar move in copper? Source: Tavi Costa, Bloomberg
