commodity prices

Neither earth, nor rare

2010-12-02T11:18:00.000-08:00

Commodities

China and the West argue about the rare earths. This weekend, even the U.S. Secretary of State Clinton has therefore dealt with the Chinese. But depending on how the companies are really in this country?
By Jan Grossarth

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Rare earths from China: Low environmental and safety standards made possible the cheap extraction of metals
31. October 2010 Rare Earth was a rock band and the 1969 "I'm Losing You" sang. The song titles fit the current lamentations from industry about the shortage of the rare earths. "The situation is very serious," said the entrepreneur Ulrich Grillo, Chairman of the resource-policy committee of the German industry association BDI. Even the existence of some companies is at risk. The rare earth account for only a thousandth share of raw materials for industrial products such as electric cars, wind power rotors or mobile phones, but are essential. The good news is that rare earths are not uncommon. It will only take a certain time until they are well beyond China dismantled in significant amounts.

Rare Earth - that is, the chemical group of the lanthanides - have nothing to do with earth, but are metals, which in turn are geologically a commodity. However, many deposits remained unchanged in recent years, as China because of low labor costs, could reduce environmental and safety standards without competition. But now that Beijing exports of rare earth concentrate with the name "Mixed Metal" for years and 2010 even shortened by about 40 percent, the outcry is great. Industrial companies feel blackmailed to relocate production facilities to China. The Chinese government insists, however, to not want to use their power as leverage.

Important for production of magnets, batteries, catalysts

By his own admission, wants the country will continue to serve the world market with the high-tech industry for important raw materials. At a meeting with U.S. Secretary of State Hillary Clinton said her Chinese counterpart Yang Jiechi on Saturday in the Vietnamese capital Hanoi to supply the metals to continue. But really trust the West to the statements apparently not. Despite this, do the United States, Japan, Europe and other allies in the words of Clinton's look for alternatives.

Rare-earth metals such as scandium, lanthanum, yttrium or neodymium oxide are due to their electrical and magnetic properties to be essential for the production of heavy magnets, batteries, laser devices, catalysts, flat panels or wind turbines. China is currently funding more than 95 percent of the degraded all over the world 124,000 tons. So now suddenly, German and American companies have shocked their total dependence on China. The companies are out but not quite innocent: They bought a long time raw materials only where they were cheap, but not pursued long-term strategy.

"When you come out from the church, one is always wiser"
On the subject of

Worries about the future: German industry warns of shortage of raw materials
Commodities: China armed with sharpened to rare earths to be
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In Japan, which China allegedly provided last no longer rare earth, this has already changed. From there, the company now Toyota Tsusho and Sumitomo, together with partner companies develop reserves in Vietnam and Kazakhstan. As a result of the bottleneck, the German industry is likely to increase their efforts to continue participation in the promotion. "When you come out from the church, one is always wiser," said committee chairman of the BDI Grillo on the short-term commodity-oriented policy of the German company. "From today's perspective it was probably a mistake from damaligerSicht it was right."

In the latest five years is likely the shortage of rare earth lie down again. "The position of China as a leading supplier of raw materials is exaggerated," said Jens Gutzmer, Professor of deposit research at the TU Bergakademie Freiberg. "It is not based on an extraordinary wealth of natural resources, but essentially use on low labor costs and reduced environmental costs in China, as well as the strategic political will of local government resources." On the short-term dependence does not change anything. From the discovery of a deposit to the exploitation of the rare Erdene passed at least five years, says Gutzmer.

Mountain Pass mine in California will soon be promoted
The development in the United States was exemplary for the industrialized countries. During 1990, more rare than a third of world production held the earth in America, there is no longer supported since 2001. Difficulties with environmental authorities helped. At the same time, the import volume quadrupled. According to data from the U. S. Agency Geological Survey have the United States right now at around 13 percent of world reserves, China has a good third. lacking for the California Mountain Pass mine soon be promoted, said the American company Molycorp, the largest western supporter of rare earths. By the end of 2012 there should be 20,000 tons of "Mixed Metal" will be won in the year, about one-sixth of the global production.

In other parts of the world mining companies are considering new grants. Lynas wants to promote Australia as early as next year again, the group Avalon Rare Metals few years later in Canada. Even in Germany could be a smaller, but are also the only alleged occurrence in Central Europe, exploited economically in the future: In the Saxon town Stork joke in 170 to 900 meters depth store 41 600 tonnes supposedly rare earth metals, such as neodymium. The German commodity AG, based in Heidelberg, is negotiating with an international mining companies on joint deep wells. An industrial company had already secured the right to decline, said managing director Titus Gebel. Next year will fall a decision until at least 2013 the earth could be extradited. If it does not happen in Saxony, then perhaps in the south of Greenland. "Then the problem would solve the economy," Gutzmer says mineralogist. On Russia's Kola Peninsula is a major deposits are in the soil, and India wants to enter again: The news agency Reuters reported this week in Orissa should funding be taken from at least 5000 tons in the year. In 2004, India had stopped the promotion of rare earths.

Second commodities dialogue

2010-08-11T05:33:00.001-07:00

Second commodities dialogue of the Federal Economics Minister: "We need raw materials so that we do in Germany from top ideas top products in the future!"
Federal Brüderle with Rainer Ulrich Grillo, Chairman of the Commodity Committee at the Federation of German Industries (BDI), president of the trade association metals (WVM) and CEO of Grillo-Werke AG
Federal Brüderle with Rainer Ulrich Grillo, Chairman of the Commodity Committee on Federal Association of the German Industry (BDI), president of the trade association metals (WVM) and CEO of Grillo-Werke AG
© BMWi

Under the direction of the Federal Minister of Economics and Technology, Rainer Brüderle, was held today in Berlin, the second raw dialogue. Therein attended high-level representatives of associations, enterprises and trade unions. In addition to the Federal Ministry of Economics and the Foreign Office (AA) and the Ministry for Economic Cooperation and Development were (BMZ) represented.

Federal Minister Brüderle: "We need raw materials so that we do in Germany from leading ideas in the future leading products. The only way to remain value-added and jobs in the country. Take for example the electrical mobility, where Li is an important raw material for the batteries. However, there are increasing signs that a safe and well predictable supply of raw materials becomes an increasingly challenging. This, for example, the price jumps illustrate the iron ore. It is therefore right that we meet more than a month after the first commodity dialogue for the second time. We do not only clear how seriously we are the topic. Above all, we get as valuable input for the new commodity strategy that I intend to present in autumn. "

Results of today's commodity dialogue were:

New Commodity Partnerships: BMWi, BMZ and AA will be a joint bilateral commodity partnerships with developing countries. Brüderle be: "The aim must be a win-win situation. The partnerships to boost the developing countries, for example through the education and training of professionals. but of course you should also use the German economy."
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German commodity Agency: The design considerations for a German agency for raw materials and the Federal Institute for Geosciences met with great acceptance. It provides for five modules: the establishment of a resource information system, a targeted service for the German economy, technical support for commodity support programs of the federal government, joint projects with industry in research and development, a stronger cooperation with raw material producing countries.
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Financial markets and commodity trade: In order to secure the last to increase price volatility observed better, should further develop this industry and finance companies together the necessary hedging instruments. The development in the markets should continue to be monitored in order to detect failures early and appropriate intervention can be on competition. A state investment and commodity trading company rejects Federal Minister Brüderle off, however: "It would concern the state go far to corporate terrain."
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Indigenous raw materials and recycling can help to secure raw material supply with. Brüderle: "Therefore, the use of indigenous raw material deposits in peer into account economic, environmental and social considerations be possible in future. I therefore welcome the intention of the EU Commission, the application of practice to examine the environmental and nature conservation rules. The framework for the recycling must be further improved and be used more as a secondary domestic raw materials. "
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Foreign trade: In the area of foreign trade of the commodity has identified several dialog steps to secure additional supply of raw materials. Economics Ministry and the BDI are real opportunities to further development of the guarantee instrument of unbound Loans (UFK) and discuss issues of export credit insurance in order to make use of these instruments in the commodities sector more efficient. The foreign chambers of commerce and Germany Trade and Invest (GTAI) should continue to devote even more than before commodity issues, including counseling, market research and information. In addition, the BMWi will continue to work vigorously for the removal of trade distortions on international commodity markets - in a bilateral dialogue with resource-rich countries and, together with partners in the EU.

Federal Minister Brüderle: "We all recognize that we come to a successful new commodity strategy only if all pull together - businesses, associations, trade unions and the various ministries. Especially in the massively attractive global competition for raw materials, we have the German and European integrate commodity wise policy. After all, even in the raw material for me: we need to keep government regulators and corporate responsibility cleanly apart. "

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