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.
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🇨🇭 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.
🇨🇭 Global One SI - Prompt
$IREN $CLSK $CIFR $BITF $WULF $CRWV | Anthropic CEO Dario Amodei: "The amount of compute being built will likely triple every year through 2029. We are moving from 10 to 15GW in 2026 to 300GW by 2029."
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$IREN $CLSK $CIFR $BITF $WULF $CRWV | AWS CEO Matt Garman: "Even with all these investments, we will be capacity constrained for the next couple of years. We will sell every single server and every single bit, and we will wish we had more."
🇨🇭 Global One SI - Prompt
$TSLA $MBLY $AMZN $NVDA $SERV $RR | Elon Musk: "In 5 to 10 years, you’ll have tens of billions of humanoid robots that will make you anything or provide any service you want for basically next to nothing."
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$TSLA $MBLY $AMZN $NVDA $SERV $RR | Elon Musk plans an "Optimus Academy" to train 10,000 to 30,000 Tesla robots via real world self-play.
The facility aims to close the "sim-to-reality" gap by combining physical testing with millions of virtual trials.
The facility aims to close the "sim-to-reality" gap by combining physical testing with millions of virtual trials.
Google $GOOGL just announced "America-India Connect"
Google announced plans to lay new subsea cables to help increase connection between India 🇮🇳 and the world
"In collaboration with local partners, America-India Connect will establish a new international subsea gateway in Visakhapatnam (Vizag); three new subsea paths connecting India to Singapore, South Africa, and Australia; and four strategic fiber-optic routes that bolster network resilience and capacity between the United States, India, and multiple locations across the Southern Hemisphere."
Google announced plans to lay new subsea cables to help increase connection between India 🇮🇳 and the world
"In collaboration with local partners, America-India Connect will establish a new international subsea gateway in Visakhapatnam (Vizag); three new subsea paths connecting India to Singapore, South Africa, and Australia; and four strategic fiber-optic routes that bolster network resilience and capacity between the United States, India, and multiple locations across the Southern Hemisphere."
🇨🇭 Global One SI - Prompt
I know I have already said it before. But this time it’s official. We are f*cked 🤣
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Prediction:
China's 80th National Day Military Parade in 2029
China's 80th National Day Military Parade in 2029
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