The world’s big mining companies are jockeying for control of the supply chain for raw materials behind new technology. Copper mining company Oz Minerals just rejected a takeover approach by BHP Group that was valued at some $5.8 billion, the WSJ’s Rhiannon Hoyle reports, in a sign of the high stakes behind the metal needed for electric vehicles, wind turbines and solar farms. BHP, the world’s biggest mining company by market value, forecasts demand for copper will double in the next three decades. That outlook is one reason for optimism in the bulk shipping industry that carries the raw materials, and BHP is trying to ensure its supplies. BHP also wants to produce more nickel, which Oz Minerals has in a project it is developing in Western Australia. BHP already runs nickel mines and processing facilities and last year struck a nickel-supply deal with Tesla.

The hottest U.S. export commodity these days may be wood pellets. Outbound volumes are running ahead of last year’s record pace of more than 7.4 million metric tons and average prices before insurance and shipping have surged this year. The boom is the result of upheaval underway in global energy markets, the WSJ’s Ryan Dezember reports, with the premium on North American pellets growing because war has cut off supplies from Russia, Belarus and Ukraine to European power plants that burn them instead of coal. The big winner has been Enviva, a Bethesda, Md.-based business that accounts for the bulk of U.S. wood-pellet exports. The company’s output flows from ports along the Atlantic and the northern Gulf of Mexico to European utilities and to Asia. With new customers in hand, Enviva is building several new plants in the Southern Pine Belt with the aim of doubling production capacity.
 

Inflation is starting to jolt U.S. food supply chains. Consumers are switching from pricey cuts of beef to less expensive chicken and other meats, the WSJ’s Patrick Thomas reports, as big suppliers like Tyson Foods reset their purchasing and production to meet changes in the market from farms to tables. The shifts in the meat sector come as consumers are growing more frugal as prices for essentials such as food and gasoline have become more expensive in recent months. Companies are tracking shifts in demand as some retailers and consumer companies issue profit warnings on falling sales and customers start to pull back spending. Tyson says demand for chicken is “extremely strong,” helping drive up prices at a double-digit pace as production problems limit supplies. The higher-margin beef business also faces supply constraints and the cost of feed, packaging and transportation is taking a bite out of those operations.

• Conagra Brands will close half its distribution centers and heavily automate others as part of a supply-chain overhaul aimed at gaining $1 billion in cost savings. (Food Business News)

The container ship backup at the ports of Los Angeles and Long Beach fell to a new low of 10 vessels, according to the Marine Exchange of Southern California. (Dow Jones Newswires)

Boeing says it has won regulatory approval to resume 787 Dreamliner deliveries this week. (WSJ)

Walmart is acquiring vendor and product management technology company Volt Systems. (Retail Dive)

Global container volumes ticked up slightly from May to June but were down modestly from the year before. (Lloyd’s List)

More U.S. importers are trying to renegotiate contract shipping rates set at high levels earlier this year. (Journal of Commerce)

The ocean tanker market is at its strongest point in 25 years. (Bloomberg)

Ship broker Clarkson’s first-half profit rose by half to about $50.7 million on about $322 million in revenue. (Financial Times)

Japan’s NYK Line is taking over contracts for four new liquefied natural gas carriers ordered by Russia’s Sovcomflot. (TradeWinds)

United Heavy Lift says ships in its project transport sector are almost fully booked for 2023 on strong oil and gas industry demand. (ShippingWatch)

Abu Dhabi’s AD Ports and India’s Adani Ports will jointly invest in logistics infrastructure projects in Tanzania. (Splash 247)

Australian authorities seized a shipment of 700 kilos of cocaine hidden in a container on a Maersk Line vessel. (MarineLink)

FedEx’s peak-season surcharges this year will target large shippers’ surges in volumes and oversize shipments. (Supply Chain Dive)

Second-quarter volumes at BNSF Railway fell 6% but strong growth in pricing boosted revenue 14% to $6.6 billion. (Progressive Railroading)

Patriot Rail will nearly double its operations with the acquisition of fellow short line operator Pioneer Lines. (Trains)

Illinois authorities say supply-chain woes are hampering their ability to issue registration stickers for car license plates. (Daily Herald)

Paul Page is editor of WSJ Logistics Report. Write to him at paul.page@wsj.com.

Follow the WSJ Logistics Report team: @PaulPage, @bylizyoung and @pdberger. Follow the WSJ Logistics Report on Twitter at @WSJLogistics.