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Container shipping rates for North American imports have plummeted since the start of the year, with box volumes on the trans-Pacific route from China to the US West Coast having dropped 86.8% and US East Coast imports rates falling 71.6%, as of Dec. 6
This week’s Commodity Tracker features rising grid-connected battery storage in the US, increased demand in Europe for LNG imports, falling soybean oil premiums and constraints to global critical metals supply. 1. ERCOT seen leading planned additions to US battery storage capacity in Q4 What’s happening? The total capacity of grid-connected battery storage across the Continental US nearly doubled year on year by the end of the third quarter, climbing 97% to 9.559 GW
The world heaved a sigh of relief when Beijing announced Nov. 11 new measures to relax its COVID-19 restrictions, while keeping China’s zero-COVID policy in place, and when Guangzhou on Nov. 30 revealed plans to remove most movement controls and resume public transport, among other new measures. But China’s three main economic drivers – consumption, investment and exports – are still facing headwinds
