Ivan Grace, Glencore, Global Economy discussed on Today

Automatic TRANSCRIPT

The chief executive ivan grace of big said he was seeing the best economic a global growth momentum of recent years jack thoughts he is a senior quantities reporter have blue mccain student of glencore jack why are we that entrance by greencore it is a company it's right at the heart of everything about the world economy isn't it that's right glencore is really states at the other half the global economy they are not only a big miner in producer of metals like culpa zinc and cold but they also one of the world's biggest oil traders that the world's biggest week trader so they're really not only one of the key calls the global economy but the has on the best insight into the global economy because they are sitting everywhere in the global trade so when they say things are looking better we should take notice he also i think this big asem into some intriguing clues about what the future of commodities might be in a particular something called cobalt while glencore is very excited about the future of electric vehicles and the reason is glencore the world's largest producer of cobalt which is key for batteries used electric vehicles thank you for power storage and i've glastonbury can saying and he's gonna he's gonna reason to the portland oregon quiz wealth produced the price of this akobo has already doubled in the past year but if electric vehicle take off and we see as some people costing thirty percent of of wall 'cause being electric within the next twenty a years then demand for kobo globally well we'll be will rise by two hundred sixty thousand tonnes which in context is two and a half times the size of the car and cobra market so that would be very good news glencore of athens jack thirty senior quantities reporter for bloomberg thank you very much stole.

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