The Economist (February 16)
“Exotic but useful metals such as tantalum and titanium are about to become cheap and plentiful.” Prices of neodymium, tungsten and vanadium may also drop if a new revolutionary production process utilizing electrolysis fulfills its promise. To date, costly and cumbersome production processes have kept prices of these metals prohibitively high, limiting their applications. “The idea that steel itself might one day be displaced by titanium is a long shot, but it is no longer inconceivable.”
New York Times (December 27)
“China’s housing bubble appears to be imploding, steel production is falling along with the demand for new construction and real estate developers are tottering, putting banks at risk.” A hard landing in China would be a blow to the world economy. It could also spark a trade war and this could be the “bigger risk” as China tries to prop up its domestic economy by subsidizing exports and discouraging imports.
