In today’s briefing:
- Semiconductors Just Beginning a Long Slide
- Chinese Miner Joins Vale in Building Second Nickel Refining Plant in Indonesia
- European Energy Crisis Boosts Demand for China-Made Electric Blankets
Semiconductors Just Beginning a Long Slide
- Semiconductor revenues continue to fall. which appears to be a repeat of the collapse in 2019
- Spot market prices, a leading indicator, are soft for both DRAM and NAND flash
- It is likely that semiconductor revenues will end the year by returning to the trendline of their historical growth of 3.9%
Chinese Miner Joins Vale in Building Second Nickel Refining Plant in Indonesia
- Chinese miner Zhejiang Huayou Cobalt has clinched a deal with the Indonesian nickel unit of Brazilian mining giant Vale S.A. to build a second plant in the country
- Huayou and PT Vale Indonesia Tbk plan to build the facility in Sorowako, Indonesia, where they will use the high-pressure acid leach (HPAL) process.
- The plant was designed with an annual production capacity of around 60,000 tons of nickel in MHP form.
European Energy Crisis Boosts Demand for China-Made Electric Blankets
- European customers have sparked a boom in Chinese exports of products such as electric blankets and heaters, as well as energy-intensive industrial goods
- The cost of electricity on the continent has shot sky high due to embargoes on Russian gas imports by numerous European countries and the U.K. following its invasion of Ukraine
- As a result, from January through July China’s exports of electric blankets to European countries jumped 97% year-on-year and electric heaters 23%
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