In this week’s Market Movers Americas, presented by Tara Olaleye:
- Rain brings relief to congestion at Panama Canal
- Albemarle provides update on lithium market challenges
- California regulators creating strategic plan for Lithium Valley
- Texas power market experts to converge
This week, the Panama Canal Authority plans to keep vessel transits at 24 per day until April. Transits were raised in December due to unexpected rain.
Jose Arango, senior analyst with the authority’s Strategic Planning Division, discussed the situation with S&P Global Commodity Insights. The target for May is an average of 36 vessel transits per day depending on water levels, the authority told Commodity Insights.
US-based lithium bellwether Albemarle will provide updates in its quarterly earnings call on the lithium market, which has seen key North Asia lithium prices at their lowest levels since mid-2021, with Platts assessments remaining steady through the first week of February.
Albemarle previously announced plans to reduce spending this year, pushing back construction on its South Carolina lithium project.
On Wednesday, the California Energy Commission expects to open proceedings to gather and assess information on California’s lithium economy. CEC staff will use input from the meeting to develop a strategic plan for the Lithium Valley Vision ecosystem in the Salton Sea region.
Finally, Infocast’s ERCOT Market Summit in Austin will take place Tuesday to Thursday in Austin, offering Electric Reliability Council of Texas market participants clarity on upcoming changes in the power market.
Texas power market experts will be speaking on subjects ranging from new ancillary services to revised wholesale energy markets.
I’m Tara Olaleye. Thank you for kicking off your Monday with S&P Global Commodity Insights.