Saint Jovite Youngblood Responds to Devastating Flooding in China and Impacts on Metals
MONROVIA, CALI, UNITED STATES, August 6, 2021 /EINPresswire.com/ -- Cataclysmic weather events are threatening human life and global supply chains. Residents are reeling after a year’s worth of rainfall fell on China’s Henan province in just three days, resulting in dozens of deaths, hundreds of thousands of evacuations, and disastrous damage to infrastructure.
Underground subway tunnels were flooded before evacuation measures could be taken, causing a number of drowning deaths as over 500 passengers were trapped in rising water. Scientists and engineers warn that what happened to the Zhengzhou subway system could happen in other major cities – including New York City – and that scant research has been done regarding the impacts of flash flooding on decades-old subway systems and municipal drainage systems.
The Chinese military, concerned about a destabilized dam in Luoyang, recently blasted it to divert flood waters that were threatening heavily populated areas.
“It’s the stuff of nightmares,” said Saint Jovite Youngblood, owner of Youngblood Metals Mining. “Experts believe that more extreme weather events will happen in August. Central China is still reeling from utter devastation and more flooding is supposed to be coming.”
Bloomberg noted the Henan province flooding that resulted in the deaths of 73 people occurred only days after a historic heat wave.
“On Sunday, typhoon In-Faslammed into Zhejiang province to the south of Shanghai, causing 3.35 billion yuan ($516 million) in damage,” according to the article.
The events in China can be added to a list of bizarre weather events around the world this past month: temperatures dipped below freezing in the South African interior, Turkey heated up to nearly 50 degrees Celsius and Mumbai dealt with landslides.
Central China, hard hit by the disaster, is a significant source of the world’s metals, which means market experts are eyeing what will happen to the industry on a global scale.
Many anticipate the Henan disaster will prove disruptive to numerous supply chains.
Flooding has essentially paralysed the central province of Henan and will hurt China’s output of not only food, but also lead and aluminium, experts say, according to reporting from the South China Morning Post.
Per the article, Henan is responsible for nearly 40% of China’s total production capacity for primary lead and around 15% for recycled lead.
The destruction of mining resources and resulting disruption of operations comes at a time when the market price for metals is already volatile.
“Economies are opening up after COVID-19 shutdowns, building is booming in the U.S. and Canada. Demand is strong – and now the supply is taking a hit,” said Saint Jovite Youngblood. “Copper is particularly notable for post-pandemic building, as it is antimicrobial.”
As the floodwaters in China rise, so do copper prices in the world markets.
“A buoyant earnings season along with falling inventories and flooding in China have sent the copper price surging,” according to the Mining Journal.
Notably, Copper miner Antofagasta was up more than 4% in London and BHP increased almost 3% in midday Australian trade. Meanwhile, in Toronto, Ethos Gold (TSXV: ECC) reached a one-year high.
“With the inventory already depleted and demand up thanks to economic recovery and infrastructure efforts in the U.S. and Canada, disasters continue to create an interesting climate for the metals/mining industry,” said Youngblood.
About Youngblood Metals Mining
Based out of Monrovia, California, Youngblood Metals Mining specializes in wholesale collectibles and precious metals. The company deals with a range of rare items extending from unique jewelry and watches to rare coins and collectibles like antique toys.
Underground subway tunnels were flooded before evacuation measures could be taken, causing a number of drowning deaths as over 500 passengers were trapped in rising water. Scientists and engineers warn that what happened to the Zhengzhou subway system could happen in other major cities – including New York City – and that scant research has been done regarding the impacts of flash flooding on decades-old subway systems and municipal drainage systems.
The Chinese military, concerned about a destabilized dam in Luoyang, recently blasted it to divert flood waters that were threatening heavily populated areas.
“It’s the stuff of nightmares,” said Saint Jovite Youngblood, owner of Youngblood Metals Mining. “Experts believe that more extreme weather events will happen in August. Central China is still reeling from utter devastation and more flooding is supposed to be coming.”
Bloomberg noted the Henan province flooding that resulted in the deaths of 73 people occurred only days after a historic heat wave.
“On Sunday, typhoon In-Faslammed into Zhejiang province to the south of Shanghai, causing 3.35 billion yuan ($516 million) in damage,” according to the article.
The events in China can be added to a list of bizarre weather events around the world this past month: temperatures dipped below freezing in the South African interior, Turkey heated up to nearly 50 degrees Celsius and Mumbai dealt with landslides.
Central China, hard hit by the disaster, is a significant source of the world’s metals, which means market experts are eyeing what will happen to the industry on a global scale.
Many anticipate the Henan disaster will prove disruptive to numerous supply chains.
Flooding has essentially paralysed the central province of Henan and will hurt China’s output of not only food, but also lead and aluminium, experts say, according to reporting from the South China Morning Post.
Per the article, Henan is responsible for nearly 40% of China’s total production capacity for primary lead and around 15% for recycled lead.
The destruction of mining resources and resulting disruption of operations comes at a time when the market price for metals is already volatile.
“Economies are opening up after COVID-19 shutdowns, building is booming in the U.S. and Canada. Demand is strong – and now the supply is taking a hit,” said Saint Jovite Youngblood. “Copper is particularly notable for post-pandemic building, as it is antimicrobial.”
As the floodwaters in China rise, so do copper prices in the world markets.
“A buoyant earnings season along with falling inventories and flooding in China have sent the copper price surging,” according to the Mining Journal.
Notably, Copper miner Antofagasta was up more than 4% in London and BHP increased almost 3% in midday Australian trade. Meanwhile, in Toronto, Ethos Gold (TSXV: ECC) reached a one-year high.
“With the inventory already depleted and demand up thanks to economic recovery and infrastructure efforts in the U.S. and Canada, disasters continue to create an interesting climate for the metals/mining industry,” said Youngblood.
About Youngblood Metals Mining
Based out of Monrovia, California, Youngblood Metals Mining specializes in wholesale collectibles and precious metals. The company deals with a range of rare items extending from unique jewelry and watches to rare coins and collectibles like antique toys.
Saint Jovite Youngblood
Youngblood Metals Mining
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