Podium Minerals Limited has become the first Australian PGM developer to join the World Platinum Investment Council (WPIC) as a pre-production member. The WPIC, founded by leading platinum group metals (PGM) miners and producers, serves as a global authority on platinum market intelligence and investment. As a member, Podium will gain access to WPIC’s extensive...
READ MOREDonald Trump’s proposed import tariffs on aluminium and copper have sparked concerns over potential price increases for consumer goods. Industry analysts fear that restricting imports could reduce metal availability, impacting production and raising costs for end-use manufacturers. Trump announced his intent to impose tariffs on key metals, including those used in US military hardware, during...
READ MORESaudi Aluminum Casting Foundry, a subsidiary of Obeikan Glass, has commenced trial operations at its aluminum casting facility in Al-Madina Al-Munawwara Industrial City. The facility is set to produce a range of aluminum products as part of its manufacturing and casting processes. The company stated that the pilot phase will continue until factory equipment is...
READ MOREThe global zinc market saw a reduction in supply shortage in November 2024, easing to 52,900 tons from 65,400 tons in October, according to the International Lead and Zinc Study Group. Despite a cumulative shortage of 33,000 tons from January to November, this was a significant shift from the 312,000-ton surplus recorded in the same...
READ MOREThe European Union is reportedly discussing new import restrictions on Russian aluminium as part of its 16th sanctions package against Moscow for the invasion of Ukraine. However, the impact is expected to be limited, as Russian metal continues to find alternative buyers outside sanctioning countries. LME aluminium prices briefly rose above $2,600 per tonne in...
READ MOREThe Canadian federal government has announced a $41 million investment in Foran Mining Corporation’s Saskatoon office to support the development of emissions-free copper production. The funding will be used to expand Foran’s McIlvenna Bay plant in Saskatchewan, creating 400 new jobs and advancing the country’s transition to a net-zero carbon economy. James Steels, Chief Financial...
READ MOREChina’s lithium carbonate production is expected to fall by approximately 17% in January to 59,800 tonnes, according to a survey conducted by Mysteel in early January. The decline is primarily attributed to domestic lithium converters and hydrometallurgical plants temporarily suspending production for maintenance and overhauls during the Chinese New Year (CNY) holiday. Mysteel’s latest survey...
READ MOREKorea’s major aluminum flat producers—Novelis Korea, Choil Aluminum, and Daeho Al—achieved a combined shipment of 865,148 tons in 2024, a 5.5% increase from 820,228 tons in 2023. However, domestic shipments fell by 7.2%, dropping from 329,363 tons to 305,616 tons, as the local market faced significant challenges. In contrast, export demand rose sharply, climbing from...
READ MOREDespite macroeconomic uncertainties, including the geopolitical challenges posed by Donald Trump’s return to the White House, the outlook for the copper market remains positive, according to a report by Bank of America (BofA). The analysis highlights falling copper inventories in China, growing demand from the country, and ongoing supply constraints as key factors supporting strong...
READ MOREIn early Monday trading (January 27) in the Asian market, spot gold rebounded slightly, with prices currently near $2,773 per ounce. This marks a recovery of nearly $10 from the intraday low of $2,763.65 per ounce. Analysts predict that gold prices may soon challenge the all-time high of $2,790.15 per ounce, set on October 31...
READ MOREThe production of recycled-content copper is projected to see a modest increase in 2024 compared to last year, according to data from the Lisbon-based International Copper Study Group (ICSG). Between January and November 2024, global secondary copper production exceeded 4.23 million metric tons (mmt). With at least 378,000 metric tons produced monthly in the last...
READ MORECobalt prices have fallen to their lowest levels in nearly a decade, with the battery material trading at $11.02 per pound as of January 23. The price drop reflects record-high production levels, which continue to exert downward pressure on the market. The world’s largest cobalt producer, CMOC Group, achieved a record output of 114,165 tons...
READ MOREThe global cobalt market in 2025 is expected to remain shaped by oversupply and evolving battery technologies. Prices, subdued since 2023 by excess supply, are projected to stay stable with minimal volatility. However, shifts in trade dynamics, technological advancements, and geopolitical factors continue to influence the market. Global cobalt demand is forecasted to grow substantially...
READ MOREFirst Quantum Minerals (FQM) achieved strong copper production results in 2024, surpassing its guidance with an annual output of 431,000 tonnes. The performance exceeded the company’s expected range of 400,000-420,000 tonnes, reflecting a year-on-year increase of 54,000 tonnes. The growth was driven by higher ore grades at Kansanshi and increased throughput at Sentinel. Kansanshi delivered...
READ MOREInvestors in gold and silver may need patience in 2025 as the geopolitical landscape continues to drive market uncertainty. Saxo Bank, in a January 10 note, highlighted the challenges ahead, citing a “tug-of-war” between rising yields, delayed rate cut expectations, and dollar fluctuations, which are expected to contribute to increased volatility compared to 2024. Gold...
READ MOREGlobal refined copper production increased by 3.7% year-on-year to 25.11 million tonnes from January to November 2024, while consumption rose by 2.6% to 24.94 million tonnes, according to the International Copper Study Group’s latest report. This resulted in a surplus of 168,000 tonnes of refined copper during the period, a significant turnaround from a deficit...
READ MORECobalt remains a critical mineral, integral to industries including defense, aerospace, energy storage, consumer electronics, and electric vehicles (EVs). As demand for these applications grows, the global cobalt market faces a complex mix of opportunities and challenges heading toward 2030. Global Production Trends Cobalt is primarily mined as a by-product of copper and nickel. Global...
READ MOREChina’s imports of unwrought copper and copper products surged to a 13-month high in December, reaching 559,000 metric tons, a 17.8% increase compared to the same period last year, according to customs data released on Monday. This marks a 5.87% rise from November, attributed partly to sellers meeting remaining obligations under annual contracts. For the...
READ MOREThe European Commission is preparing to propose a ban on imports of Russian primary aluminum as part of its 16th sanctions package against Russia, EU diplomats revealed on Tuesday. The proposed measures aim to increase economic pressure on Russia following its invasion of Ukraine. Informal discussions were held among EU member states to finalize the...
READ MOREThe nickel market is expected to remain oversupplied in 2025, with a projected surplus of 156,000 metric tons as production in Indonesia and China continues to expand. According to Jason Sappor, senior analyst at S&P Global Commodity Insights, the surplus is driven by increased output and slowing demand from the stainless steel and battery materials...
READ MOREThe European Recycling Industries’ Confederation (EuRIC) has cautioned the European Commission against imposing restrictions on scrap exports, emphasizing that such exports are essential to sustaining recycling businesses within the European Union. EuRIC’s statement comes in response to a December 2024 letter from Eurofer and European Aluminium advocating for stricter controls on the export of ferrous...
READ MORECopper and silver futures in New York are surging past international price benchmarks as traders brace for potential sweeping import tariffs under Donald Trump’s administration. Front-month Comex silver futures are trading at a premium of more than $0.90 per ounce over London spot bullion prices, nearing December peaks fueled by Trump’s pledges to apply universal...
READ MORENickel producers are bracing for a challenging year in 2025 as the global market remains oversupplied, pushing prices downward. Analysts point to Indonesia’s rapidly growing nickel industry as a key factor disrupting global supply and contributing to the price slump. However, the world’s largest nickel producer has announced plans to cut production by nearly 40%,...
READ MOREIn a significant move to bolster the Sultanate of Oman’s industrial sector, National Aluminium Products Company (NAPCO) and Oman Aluminium Cast Company have signed a pivotal supply agreement. The signing ceremony took place at the Knowledge Oasis Muscat, witnessed by Eng. Dawood bin Salim Al Hadabi, CEO of Madayn. Under the agreement, Oman Aluminium Cast...
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