Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
(Yicai Global) April 13 -- Shares of Chinese asset management company Haide Capital Management jumped after the firm said it will seek business opportunities via a new long-term energy storage technology.
Haide's stock price [SHE: 000567] surged as much as 6.6 percent in earlier trading, it closed up 2.40 percent to CNY17.10 (USD2.69), while Shenzhen market’s benchmark index closed down 1.60 percent today.
The firm penned a cooperation agreement with Hubei province-based Zhongfan Vanadium Energy Storage Technology and CAS Investment Management, an affiliate of the Chinese Academy of Sciences, to promote the industrial development of vanadium redox flow batteries, the Hainan province-headquartered investor said in a statement yesterday evening.
The vanadium battery is a new type of energy storage system that could smooth the power output of renewable power systems such as wind farm and solar power plant. The technology is also slated to replace the pumped storage power stations, which are used to balance the peak and valley period of the grid operation, as its technology would become more mature in the future.
The three above-mentioned companies will set up a joint venture to advance their pursuits, including buy more vanadium mine assets, as well as the construction of Hubei province’s first over 100-megawatt vanadium energy storage power station and an ancillary production line of 30,000 tons high-purity electrolytes per year, according to the agreement.
The joint venture also plans to engage in new adventures such as high purity vanadium refinery and vanadium based new materials development projects.
Zhongfan, which own vanadium mine assets, and is the EPC contractor of the above mentioned vanadium energy storage power station project, is slated to become the JV’s controlling shareholder. Haide, a key shareholder, will assist the JV in acquiring mine resources and market expansion. CAS will mainly help the JV with new technology development. The JV's financial terms were not disclosed.
https://www.yicaiglobal.com/news/china-haide-capital-soars-after-posting-next-gen-vanadium-battery-plan
War in Ukraine a major gamechanger for global longs market
The war in Ukraine has changed sentiment in the global long steel products market as well as fundamentally altering the flow of raw materials and finished products almost overnight. There is more demand than secure supply in the market. Before the war, the expectations were that demand would determine the direction of prices, contrary to 2021 when supply was the driving factor. Today, however, supply has definitely taken the lead again and the market is in fact distorted.
Sanctions on Russia to continue for some time to come
Hot rolled coil prices ex-China are lower than slab prices, which in turn are lower than prices of basic pig iron. We hear of a new set of sanctions every day, for different targets using different means, issued by different countries, besides which the payment side is totally confused. There are many different ways of approaching the sanctions. Disruptions of supplies of semi-finished and finished products have opened new opportunities for others, especially for Turkish mills who share the same geographical region. However, nobody has any clue how far this madness will go, but one thing is for sure: the sanctions on Russia will remain in place for some time to come.
Price imbalance emerges between Asia and rest of world, European prices the highest
The Western hemisphere has stable demand with short supply depending on the product. There is stable demand also in the Eastern hemisphere, but the strong presence of Chinese and Southeast Asian producers results in a price difference between these two regions. Consequently, there is a price imbalance between Asia and the rest of the world. The difference between Turkish origin reinforcing bar and wire rod prices and Chinese, Vietnamese or Malaysian origin reinforcing bar and wire rod prices is more than US$100 per ton. The price difference between the North American and the EU/UK markets is even greater. International markets are becoming more regional than ever. European steel prices are now the highest in the world. Asian and especially Chinese prices are substantially lower than anywhere else. The steel trade is changing direction from selling to Asia to buying from Asia.
New destinations sought for Russian raw materials and semi-finished products
Russian raw material and semi-finished products are searching for destinations that are willing to import and at new discounted prices. It seems that Russian finished products are not being exported yet at all...
http://www.irepas.com/?p=5600
from @AndreaHotter on Twitter yesterday "We price Fe-V 70-80% V, in-warehouse Pittsburgh, and the price has been rising strongly: now at $34-34.5/lb vs around $15/lb start of Jan, and +2.24% vs end of March".
That's c.$75 per kg....
Evraz will go bust before it ever gets a chance to relist anywhere.
The fifth round of EU measures will effectively kill off its Russian steel and vanadium business.
Also the company will default on its debts as it won't be able to physically make any payments.
Just my two cents.
Agreed but do you think the UK government will allow a UK registered company to be listed on the Russian stock exchange?
Best chance they'll have will be to migrate the company offshore somehow, then list in Russia.
I don't see this stock ever coming back on the UK stock market, at least not whilst Putin is in power.
And Russia has capital controls for foreign investors making it impossible to sell Russian shares...