(Bloomberg) -- Panels on the energy transition and all things related, from oil to minerals, kick off the Financial Times Commodities Global Summit this week in Switzerland. German manufacturers weigh in on gas storage plans in Europe. And, coffee is not expected to get cheaper any time soon.
Here are five notable charts to consider in global commodity markets as the week gets underway.
Critical Minerals
Critical minerals are vital for clean energy and the fight for them is intensifying, with US President Donald Trump even evoking wartime powers to produce them. China is the undisputed leader in extracting the minerals, but it is curbing exports in response to US trade tariffs. Other nations joining the race to build up supplies, however, will find extracting and then refining minerals into a usable form is a complex undertaking.
Coffee
“Roasters are struggling,” says Thiago Cazarini, a broker in Brazil’s largest coffee-growing region. The processors who typically take positions in the futures market to protect themselves from price fluctuations changed course when the commodity began rising last year, betting they could secure a better deal later. But supply shortages persisted and prices kept climbing. Coffee drinkers can expect to see the impact of that at the register.
Copper
Copper is flirting with records in New York after hitting $10,000 on the London Metal Exchange, the highest since October. Used in wiring, plumbing and industrial machinery, copper has been flowing into the US at breakneck levels as the Trump administration hints at tariffs on the colorful metal. Traders smell a windfall in arbitrage opportunities, while bulls remain steadfast.
Oil
The US oil industry, the world’s biggest, has undergone a dramatic overhaul over the past 2 1/2 decades as a result of the shale boom. In the mid-2000s, America was a net importer of as much as 14 million barrels a day of crude oil and refined fuels, while today it’s a major supplier to overseas markets. The most-recent government data shows the US just hit a fresh record for shipping the most oil overseas relative to how much it buys.
Gas Storage
Gas inventories are a problem for Europe after a cold winter left reserves low. To ensure it has enough gas to get through the heating season, the European Union is requiring storage facilities to be at least 90% by Nov. 1. Some countries, including Germany, the world’s third largest economy, are pushing to lower the target. A German industry lobby joined the chorus, citing the nation’s high energy prices.
--With assistance from Mark Burton, Ilena Peng, Dayanne Sousa, Eva Brendel and Lucia Kassai.