Contemporary Amperex Technology (CATL), electric-vehicle battery maker, and Guangzhou Futures Exchange, commodities bourse, have become the twin catalysts of August’s lithium rally after CATL suspended operations at its Jianxiawo mine, lifting the CME lithium carbonate contract by 27% since the start of the month and turbocharging producer shares. Futures fever outruns fundamentals The immediate market...
READ MORES&P Global Market Intelligence, mining data provider, and the gold industry, producers and explorers, have added three deposits to the list of “major discoveries” in 2024, lifting the global inventory of gold contained in discoveries since 1990 to almost 3 billion oz across 353 deposits—but most of the ounces came from old finds that have...
READ MOREGoldman Sachs salespeople recommended hedge-fund clients buy upside call options on U.S. copper a day before President Donald Trump unveiled a scaled-back tariff plan that exempted refined metal, triggering the sharpest price collapse on the New York contract since records began in 1988, according to people briefed on the calls and subsequent desk emails. On...
READ MORENornickel, Russian non-ferrous producer, and China’s customs authorities point to a sharp re-routing of trade: Russian copper exports to China rose 81% year on year to more than 564,000 tonnes in the first half of 2025, with shipment value up 2.5x to $3.3 billion. Volumes are just 81,000 tonnes shy of the full-year 2024 total...
READ MORECopper demand is running hotter than forecasters expected, according to Benchmark Mineral Intelligence and cable maker Prysmian, as a worldwide push to upgrade power grids and build data centres gathers speed. Supply isn’t keeping pace. That mix could keep prices elevated after trading near $9,700 per tonne in late July. The International Energy Agency now...
READ MOREGlobal supply, industry outlook, is set to recover in 2025 as Ivanhoe’s Kipushi in the DRC, China’s Huoshaoyun and Russia’s Ozernoye scale up, even as analysts still see mined zinc contracting at a -0.5% CAGR to around 12.1 mt by 2030 from a post-rebound base. After an estimated 2.8% decline in 2024, mine production is...
READ MOREChina’s General Administration of Customs, the national trade monitor, said imports of unwrought aluminium and products reached 300,000 t in June, up 24.1 % from a year earlier, while bauxite arrivals soared 36.2 % to 18.12 Mt, underscoring the pull from smelters ramping output to multi-year highs. Smelter Restarts and Arbitrage Fuel Metal Flows Restarts...
READ MOREPrices of gold had wildly oscillated on July 7 in America, after spot gold reclaimed earlier losses that were prompted by United State President Trump’s comments that unveiled novel tariff plans aimed at Japan and South Korea. Precious metal concluded at $3,336.30 per ounce, after experiencing spectacular action throughout the day that had spot gold...
READ MOREWestern metal smelting operations face an unprecedented crisis as competition with technology companies for electricity resources drives power costs beyond economically viable levels, threatening government efforts to reshore critical industrial capacity. The crisis has intensified as artificial intelligence data centers consume increasing amounts of electricity, with tech companies willing to pay double traditional industrial rates...
READ MOREWestern metal smelting operations across copper, zinc, aluminum, and nickel face an unprecedented crisis as Chinese capacity expansion drives treatment charges to historic lows and forces facility closures worldwide. The crisis extends beyond individual company struggles to threaten Western industrial sovereignty, with China approaching the same level of processing dominance in base metals that has...
READ MOREThe United Kingdom’s lithium carbonate market is positioned for gradual recovery following two consecutive years of declining consumption, with industry forecasts projecting growth to 1,300 tonnes and $16 million by 2035. This modest expansion occurs within a broader global context of supply chain restructuring and technological innovation, highlighted by Rio Tinto’s $2.5 billion investment in...
READ MORELondon Metal Exchange copper has posted a 12% gain through the first half of 2025, outperformed only by volatile tin markets, as US President Donald Trump’s trade investigation launched in February created substantial price differentials between American and international markets. The CME copper contract currently trades at a $1,200 per metric ton premium over LME...
READ MOREPlatinum prices have climbed from below $900 per ounce in early April 2025 to nearly $1,400 per ounce by late June, marking a 50% increase and reaching the highest levels in almost a decade. The rally has lifted platinum mining stocks dramatically, with Impala Platinum gaining 75% year-to-date, Northam Platinum advancing 88%, and Sibanye-Stillwater jumping...
READ MOREThe International Copper Study Group, a global intergovernmental organization monitoring copper markets, reported that worldwide refined copper surplus declined marginally to 233,000 tonnes during the first four months of 2025 compared to 236,000 tonnes in the corresponding period of 2024. Global refined copper production increased 3.2% year-over-year to 9.4 million tonnes while consumption expanded 3.3%...
READ MORECopper prices edged lower in the immediate aftermath of U.S. airstrikes on Iranian nuclear sites, defying expectations of a geopolitical risk premium for the industrial metal. Official trading data show both London and U.S. copper futures dipped by 0.1% to 0.3% in the first session following the attack, with benchmark contracts on the London Metal...
READ MOREInventories of aluminum in London Metal Exchange (LME) warehouses have fallen to their lowest levels since 2022, creating significant underlying volatility in the market despite a seemingly stable headline price. Stocks have decreased from over 1.3 million metric tonnes two years ago to approximately 345,000 tonnes as of mid-June 2025. This tightening of available supply,...
READ MOREGlencore withdrew approximately 15,000 tonnes of Russian copper from London Metal Exchange warehouses in Rotterdam over three trading sessions, planning to deliver the metal to China amid severe supply tightness in the world’s largest copper market. The withdrawals pushed LME copper inventories to their lowest level in a year, highlighting the growing desperation among traders...
READ MOREGerman copper producer Aurubis recorded a net profit of 76 million euros ($83.6 million) in the first quarter of 2025, representing a 28% decline from the same period last year. The company attributed the profit reduction to higher energy costs and decreased remuneration payments from mining partners for smelting and refining services. Despite profitability challenges,...
READ MOREGlobal alumina production, a key raw material for aluminum smelting, declined to 12.41 million tonnes in April, down 2% from the previous month, according to data from the International Aluminium Institute (IAI), an industry association. The drop was driven primarily by reduced output in China, which accounts for nearly 60% of global production. However, year-over-year...
READ MOREThe global refined copper market recorded a surplus of 289,000 tonnes in the first quarter of 2025, a slight increase from 287,000 tonnes in the same period last year, according to the International Copper Study Group. Refined copper production worldwide rose by just over 3% year-on-year to 7.1 million tonnes between January and March, while...
READ MOREPlatinum prices surged last week to their highest levels in two years, posting the strongest five-day gain in over a year as investors responded to new research forecasting a deeper-than-expected global supply deficit. The World Platinum Investment Council (WPIC) now projects that platinum supply in 2025 will fall to a five-year low of just 7...
READ MORERio Tinto announced on Thursday that CEO Jakob Stausholm will step down later this year after nearly five years in the role. The company confirmed that Stausholm will remain at the helm until a successor is appointed, with a formal selection process now underway. Internal candidates expected to be considered include Chief Commercial Officer Bold...
READ MOREJohnson Matthey analysts expect the palladium market to move into balance in 2025, following more than a decade of deficits from 2012 to 2024. This shift is driven by a 6% drop in palladium demand, mainly due to reduced production of gasoline vehicles and weaker investment interest. The outlook for platinum group metals (PGMs)—platinum, palladium,...
READ MOREThe International Energy Agency (IEA) has warned that global copper demand, driven by the transition to low-carbon energy systems, will outpace supply by as much as 30% by 2035 if new investments and projects do not materialize. The agency’s latest Global Critical Minerals Outlook highlights that copper—a metal essential for electrical grids, renewable energy, and...
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