China is dumping Treasuries and buying #gold
Treasuries depend on policy, politics, and trust.
Gold depends on none of them.
Gold is once again becoming the preferred reserve asset
Treasuries depend on policy, politics, and trust.
Gold depends on none of them.
Gold is once again becoming the preferred reserve asset
Striking similarities here #copper is basically repeating the #silver playbook from earlier last year.
the slow grinding upwards channel has lasted about 3 years now, and even though its been trending upwards the entire time, somehow ppl still get bored and move on because they have the attention span of a goldfish.
this channel eventually breaks out but we dont know exactly when, i suspect in the next 4-6 months or so but when it does, it will double FAST.
id rather be 6 months early then one day late because make no mistake, this price action IS the accumulation, when the real breakout happens there will not be any 2nd, 3rd or 4th chances to position accordingly, exactly like what happened in the silver parabola.
the slow grinding upwards channel has lasted about 3 years now, and even though its been trending upwards the entire time, somehow ppl still get bored and move on because they have the attention span of a goldfish.
this channel eventually breaks out but we dont know exactly when, i suspect in the next 4-6 months or so but when it does, it will double FAST.
id rather be 6 months early then one day late because make no mistake, this price action IS the accumulation, when the real breakout happens there will not be any 2nd, 3rd or 4th chances to position accordingly, exactly like what happened in the silver parabola.
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🇨🇭 Global One SI - Prompt
Institutional action on $ASPI Interestingly, into the end of the year 2025 a couple big moves were made. BlackRock increased its position by +1,328,425 shares (+24.33%). Vanguard added +1,889,481 shares (+41.83%). Expectations are a big year for $ASPI
ASP Isotopes ( $ASPI) subsidiary Quantum Leap Energy will establish global HQ in Austin and pursue HALEU enrichment + advanced isotope production tied to a proposed Amarillo “hypergrid” campus.
• #HALEU supply is the key bottleneck for SMRs & advanced reactors
• DOE estimates U.S. demand ~50t/year by 2035 → 500t by 2050
• Texas doubling down on pro-nuclear regulatory & industrial policy environment
• Partnerships span TerraPower, Fermi America, and global isotope markets
• #HALEU supply is the key bottleneck for SMRs & advanced reactors
• DOE estimates U.S. demand ~50t/year by 2035 → 500t by 2050
• Texas doubling down on pro-nuclear regulatory & industrial policy environment
• Partnerships span TerraPower, Fermi America, and global isotope markets
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This is why the West is losing to China.
In the middle of a resource war in which China is in the lead, Glencore is forced to suspend its 300m investment in its copper smelter in Quebec and is planning to close it by 2027… because of emission targets.
For context:
- China dominates copper smelting with ~60%.
- The Horne smelter is one of the few remaining non-Chinese smelters.
- It represents ~15% of North America’s smelting capacity.
- It is the only smelter in Canada.
Copper is arguably the most important metal… no copper = no electricity.
We can mine all the copper ore we want, but it is useless if we have to ship the concentrate to China for smelting and refining to turn it into usable copper.
The West either needs to get its shit together or capitulate to China.
In the middle of a resource war in which China is in the lead, Glencore is forced to suspend its 300m investment in its copper smelter in Quebec and is planning to close it by 2027… because of emission targets.
For context:
- China dominates copper smelting with ~60%.
- The Horne smelter is one of the few remaining non-Chinese smelters.
- It represents ~15% of North America’s smelting capacity.
- It is the only smelter in Canada.
Copper is arguably the most important metal… no copper = no electricity.
We can mine all the copper ore we want, but it is useless if we have to ship the concentrate to China for smelting and refining to turn it into usable copper.
The West either needs to get its shit together or capitulate to China.
👀1
🇨🇭 Global One SI - Prompt
ASP Isotopes ( $ASPI) subsidiary Quantum Leap Energy will establish global HQ in Austin and pursue HALEU enrichment + advanced isotope production tied to a proposed Amarillo “hypergrid” campus. • #HALEU supply is the key bottleneck for SMRs & advanced reactors…
☢️28 reactors under construction in China
💰$27.4 billion approved in a single batch
⚡️138 gigawatts coming online by 2035
The West looked at those numbers and made a decision.
Compete or concede technology dominance for the next 50 years.
The US just set a target of 400 gigawatts by 2050.
Europe ended years of gridlock with the Franco-German nuclear compromise and the UK, Poland, Czech Republic, and Finland are all building.
But here is the bottleneck ...
Every advanced reactor in this race NuScale Power, Oklo Inc, TerraPower, X-energy runs on #HALEU fuel that only Russia could produce commercially until 2023.
Now there is 1 Western company licensed to make it.
#Nuclear #energy #uranium #China #Russia
💰$27.4 billion approved in a single batch
⚡️138 gigawatts coming online by 2035
The West looked at those numbers and made a decision.
Compete or concede technology dominance for the next 50 years.
The US just set a target of 400 gigawatts by 2050.
Europe ended years of gridlock with the Franco-German nuclear compromise and the UK, Poland, Czech Republic, and Finland are all building.
But here is the bottleneck ...
Every advanced reactor in this race NuScale Power, Oklo Inc, TerraPower, X-energy runs on #HALEU fuel that only Russia could produce commercially until 2023.
Now there is 1 Western company licensed to make it.
#Nuclear #energy #uranium #China #Russia
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🇷🇺🇺🇸🇺🇦The United States and Russia have reportedly agreed to lift sanctions against Moscow in exchange for deals worth $12 trillion — The Economist
Fears are growing among EU leaders that the US president could pressure Ukraine into making significant concessions by June in order to secure a trade agreement with Russia.
Fears are growing among EU leaders that the US president could pressure Ukraine into making significant concessions by June in order to secure a trade agreement with Russia.
🚨 The Nuclear Race Is Not Even Close.
Reactors under construction (June 2025):
🇨🇳 #China: 28
🇮🇳 #India: 6
🇷🇺 #Russia: 4
🇪🇬 Egypt: 4
🇹🇷 Türkiye: 4
#Japan, Korea, UK, Ukraine building 2 each
China alone is building more reactors than the rest of the top countries combined.
This is not about climate headlines.
It’s about:
⚡ Base load power for AI and industry
🔋 Energy security
🌍 Geopolitical leverage
Nuclear is back.
But it’s not being built evenly.
If you want to understand what this means for the global energy balance and the next power cycle,
#energy #nuclear
Reactors under construction (June 2025):
🇨🇳 #China: 28
🇮🇳 #India: 6
🇷🇺 #Russia: 4
🇪🇬 Egypt: 4
🇹🇷 Türkiye: 4
#Japan, Korea, UK, Ukraine building 2 each
China alone is building more reactors than the rest of the top countries combined.
This is not about climate headlines.
It’s about:
⚡ Base load power for AI and industry
🔋 Energy security
🌍 Geopolitical leverage
Nuclear is back.
But it’s not being built evenly.
If you want to understand what this means for the global energy balance and the next power cycle,
#energy #nuclear
Forwarded from 🛢WTI, Brent Crude Oil, NGAS Trading 📊
💰 Eni Wants Back Into Trading To Stop Missing Multi Billion Dollar Volatility Profits
BP, Shell and Total made billions from trading 🛢️
Eni largely did not.
Now it wants back in.
🇮🇹 What Eni's CEO Said
• Eni stopped most oil & gas trading in 2019
• bp, Shell, TotalEnergies have trading divisions making billions
• Preliminary talks held with commodity houses
• Mercuria explicitly named
He admits trading is not in our DNA.
The plan is partnership, not rebuild.
🤝 What The JV Would Do
Structure under discussion:
• Separate trading entity
• Eni physical barrels + LNG portfolio
• Mercuria-style risk systems + market access
Reported target:
• 1.8 mb/d traded crude by 2027
• 25% increase in volumes
Eni supplies molecules.
Partner supplies trading engine.
#oott #LNG #trading #Commodities
BP, Shell and Total made billions from trading 🛢️
Eni largely did not.
Now it wants back in.
🇮🇹 What Eni's CEO Said
• Eni stopped most oil & gas trading in 2019
• bp, Shell, TotalEnergies have trading divisions making billions
• Preliminary talks held with commodity houses
• Mercuria explicitly named
He admits trading is not in our DNA.
The plan is partnership, not rebuild.
🤝 What The JV Would Do
Structure under discussion:
• Separate trading entity
• Eni physical barrels + LNG portfolio
• Mercuria-style risk systems + market access
Reported target:
• 1.8 mb/d traded crude by 2027
• 25% increase in volumes
Eni supplies molecules.
Partner supplies trading engine.
#oott #LNG #trading #Commodities
Thermal coal is going to surge.
- Indonesian government quotas could remove ~100 mt from the market
- Asian countries continue to add coal generation capacity
- China alone is adding 100 coal units this year
- Coal-fired capacity in the US rose 13% YoY
The beauty: everyone thinks coal is dead while demand is hitting all-time highs.
- Indonesian government quotas could remove ~100 mt from the market
- Asian countries continue to add coal generation capacity
- China alone is adding 100 coal units this year
- Coal-fired capacity in the US rose 13% YoY
The beauty: everyone thinks coal is dead while demand is hitting all-time highs.
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$ASTI $RKLB $ASTS $LUNR $RDW $VOYG | Dave Limp, Blue Origin CEO: "What the US needs is two SpaceX, it needs two launch companies that are competing vigorously against each other to try to give us the most capabilities as a country."
🇨🇭 Global One SI - Prompt
🇷🇺🇺🇸🇺🇦The United States and Russia have reportedly agreed to lift sanctions against Moscow in exchange for deals worth $12 trillion — The Economist Fears are growing among EU leaders that the US president could pressure Ukraine into making significant concessions…
On the agenda: Arctic oil and gas, rare earth mines, a nuclear data center, a tunnel under the Bering Strait… and even the potential return of seized ExxonMobil assets.
Kirill Dmitriev (of the Russian sovereign wealth fund) has met at least nine times with Trump’s special envoy (Steve Witkoff) since April 2025. Trump wants results before the midterm elections; Putin is seeking economic relief in the face of low oil prices and tightened sanctions.
Kirill Dmitriev (of the Russian sovereign wealth fund) has met at least nine times with Trump’s special envoy (Steve Witkoff) since April 2025. Trump wants results before the midterm elections; Putin is seeking economic relief in the face of low oil prices and tightened sanctions.
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🚨 From $5.2bn To $614m
Glencore’s Energy Trading Back To “Normal”
Still Record volumes
📉 2025 Energy Marketing Numbers
• $614m EBIT in 2025
• Down 32% YoY
• 3rd straight annual decline
• Vs $5.2bn peak in 2022
H1 2025, $40m EBIT.
H2 rebounded, but not enough.
🛢️ Volumes Are Not The Problem
• 4.2 mb/d traded in 2025
• +11% YoY
• Highest since 2020
Still below 2017 peak of 5.6 mb/d.
Barrels up⬆️
Margins down⬇️
• Well-supplied markets
• Softer sentiment
• Lower volatility
⚖️ Broader Marketing Still Profitable
All-commodities marketing:
• $2.3–3.5bn Adjusted EBIT annually
Energy is no longer the outsized driver.
Will 2026 be different?
#energy #oott
Glencore’s Energy Trading Back To “Normal”
Still Record volumes
📉 2025 Energy Marketing Numbers
• $614m EBIT in 2025
• Down 32% YoY
• 3rd straight annual decline
• Vs $5.2bn peak in 2022
H1 2025, $40m EBIT.
H2 rebounded, but not enough.
🛢️ Volumes Are Not The Problem
• 4.2 mb/d traded in 2025
• +11% YoY
• Highest since 2020
Still below 2017 peak of 5.6 mb/d.
Barrels up⬆️
Margins down⬇️
• Well-supplied markets
• Softer sentiment
• Lower volatility
⚖️ Broader Marketing Still Profitable
All-commodities marketing:
• $2.3–3.5bn Adjusted EBIT annually
Energy is no longer the outsized driver.
Will 2026 be different?
#energy #oott
Forwarded from 🛢WTI, Brent Crude Oil, NGAS Trading 📊
🚨 Iran Temporarily Closes Part of the Strait of Hormuz
🛢️OIL prices are 🟢🚀
#Iran shut sections of the Strait of Hormuz for several hours during naval drills involving advanced armed drones.
• 20% of global oil flows through Hormuz
• Key route for Saudi, Iraqi, UAE, Kuwaiti crude
• Critical corridor for Qatar LNG
Even short disruptions remind the market how fragile physical flows are.
So far this is a drill, not a supply shock.
But in a market already sensitive to geopolitics, chokepoint risk always carries a premium.
Watch freight rates, time spreads, and any insurance repricing.
#oott #LNG
🛢️OIL prices are 🟢🚀
#Iran shut sections of the Strait of Hormuz for several hours during naval drills involving advanced armed drones.
• 20% of global oil flows through Hormuz
• Key route for Saudi, Iraqi, UAE, Kuwaiti crude
• Critical corridor for Qatar LNG
Even short disruptions remind the market how fragile physical flows are.
So far this is a drill, not a supply shock.
But in a market already sensitive to geopolitics, chokepoint risk always carries a premium.
Watch freight rates, time spreads, and any insurance repricing.
#oott #LNG
🇨🇭 Global One SI - Prompt
NVIDIA $NVDA and $META Meta have signed a multiyear partnership to build hyperscale AI infrastructure. Meta will deploy millions of Blackwell and Rubin GPUs alongside Grace and Vera CPUs, marking the first large scale Grace-only server deployment to power…
Stifel reiterates $NVDA NVIDIA at Buy with a $250 price target.
Analyst Ruben Roy cites the expanded $META Meta Platforms partnership, which includes the first large scale Grace-only CPU deployment and validates NVIDIA’s full stack strategy for AI infrastructure.
Analyst Ruben Roy cites the expanded $META Meta Platforms partnership, which includes the first large scale Grace-only CPU deployment and validates NVIDIA’s full stack strategy for AI infrastructure.