According to a survey by Shanghai Metals Market (SMM), China’s primary aluminium prices and input costs have declined, reflecting muted demand for the commodities. Bauxite emerged as the only exception, with its domestic price remaining stable and its imported price increasing by $0.08 per tonne to $105.84 per tonne. A00 Aluminium Ingot Price On December...
READ MOREGlobal gold production is projected to reach an all-time high of approximately 3,250 tonnes (105 million ounces) in 2024 before entering a period of sustained decline, according to industry experts speaking at The Northern Miner’s International Metals Symposium in London on December 2. From 2025 onward, factors such as depleting reserves, declining ore grades, and...
READ MOREAccording to the International Aluminium Institute, global primary aluminium production in 2024 is poised to surpass the previous year’s total, setting a new annual record. By the end of November 2024, global primary aluminium output had reached 66.522 million tonnes. To exceed the 2023 total of 70.716 million tonnes, December’s production needs to exceed 4.194...
READ MOREThe global refined copper market recorded a surplus of 287,000 tonnes in the January-October period of 2024, up from 9,000 tonnes in the same period last year, according to the International Copper Study Group (ICSG). Refined copper production rose 3.7% year-on-year to 22.77 million tonnes, while consumption increased by 2.5% to 22.48 million tonnes. In...
READ MOREThe latest data from the World Bureau of Metal Statistics (WBMS) reveals a substantial oversupply in the global nickel market. Refined nickel production reached 304,400 tons in October, surpassing consumption, which stood at 282,500 tons, resulting in an excess supply of 21,900 tons. For the first ten months of 2023, global refined nickel production totaled...
READ MOREThe global copper market is poised for a volatile year in 2025, with a mix of positive and negative factors shaping price, demand, and supply dynamics. Despite the bullish momentum seen in 2024, driven by the emerging artificial intelligence (AI) sector and increased demand for data centers, several uncertainties are clouding the outlook. At the...
READ MOREAluminum prices have dropped below $2,600 per metric ton, driven by concerns over weak seasonal demand and rising production levels in China. According to official data, Chinese aluminum output reached record highs in November, totaling 3.71 million metric tons. This equates to an annualized production rate of 45.3 million tons, coinciding with a period of...
READ MOREThe critical minerals sector faced a turbulent 2024, as new supply outpaced short-term demand growth in immature markets, causing a sharp decline in prices. This pricing pressure slowed deal-making activity and limited financing options for many developers. Despite these challenges, the outlook for 2025 remains optimistic, driven by long-term demand growth, increasing government support, and...
READ MOREAlumina prices soared to record levels in late 2024, surpassing $780 per tonne in both China and Australia, driven by supply disruptions and robust demand. Prices increased by more than 70% over the year, highlighting the alumina market’s growing vulnerability to supply shocks. While new projects planned for 2025 could help restore balance, the intermediate...
READ MOREJapanese buyers have agreed on a premium of $228 per tonne for aluminium imports in Q1 2025, marking a 0.87% to 12% decline from the previously offered range of $230-$260 per tonne. Despite the drop, the agreed premium is the highest since 2015 and represents a 30% increase compared to the ongoing quarter’s premium of...
READ MOREBank of America (BofA) has revised its copper and lithium price forecasts for 2025, pointing to economic uncertainties and trade tensions that could weigh on procyclical commodities. The bank has lowered its 2025 copper price projection by 12%, from $4.88 per pound to $4.28, and its 2026 forecast by 20%, from $5.44 to $4.88. These...
READ MOREThe global nickel market recorded its third consecutive year of surplus in 2024, with the oversupply shifting predominantly to the high-grade nickel sector. According to PJSC MMC Norilsk Nickel (Nornickel), exchange stocks of nickel have more than doubled since the start of the year, exceeding 100,000 metric tons. When accounting for over-the-counter inventories, global Class...
READ MOREGold prices climbed nearly $34 on Tuesday, reaching a two-week high of $2,693.78 per ounce. The surge was driven by escalating geopolitical tensions and strong market expectations for a Federal Reserve interest rate cut next week. Spot gold ended the session up $33.75, or 1.27%, with buyers targeting the $2,700 mark for the first time...
READ MOREGlobal production of refined copper rose by 4.1% year-on-year to 20.50 million tonnes during January to September, while consumption increased by 2.5% to 20.14 million tonnes. This resulted in a widening surplus of 359,000 tonnes for the first nine months of the year, compared to a surplus of just 42,000 tonnes during the same period...
READ MOREAluminum prices are anticipated to stay elevated throughout 2024 as a tightening market balance emerges, with global demand growth outpacing supply, according to BMI, a unit of Fitch Solutions Group. In a report released this week, BMI forecasts that aluminum demand will increase by 3.2% year-on-year in 2024, reaching 70.35 million tonnes, while supply growth...
READ MOREDue to the potential increase in U.S. trade tariffs following the incoming Trump administration and weaker-than-expected stimulus measures from China, demand for copper is likely to come under significant pressure. In response, Citigroup has lowered its short-term copper price forecast by 11%, anticipating that prices will fall from a previous forecast of $9,500 per ton...
READ MOREThe global silver market is expected to be in deficit for the fourth consecutive year, according to a report by the Silver Institute in collaboration with consulting firm Metals Focus. In 2024, worldwide silver consumption is projected to rise by approximately 1% year-on-year, reaching 1.21 billion ounces (about 37,500 tonnes). However, despite the overall increase...
READ MOREAnalysts at Citi Research have revised their short-term copper price forecast downward by 10%, from $9,500 per tonne to $8,500 per tonne. The downgrade is attributed to ongoing trade tensions between the U.S. and China, as well as weaker-than-expected economic growth in China, which are likely to dampen global demand for copper. According to Citi’s...
READ MOREDespite intensified Western focus on reducing reliance on China, Europe’s economic dependence on the Asian giant has only deepened in recent years. EU imports from China reached €515.9 billion in 2023, encompassing many crucial products necessary for advanced economies. The European Union’s reliance on China is particularly concerning regarding critical raw materials (CRMs) needed for...
READ MORESharp Decline Follows Record High Spot gold experienced a significant decline on Thursday, closing down by \$43.50, or 1.56%, at \$2,743.63 per ounce. This drop followed a historic high of \$2,790.11 per ounce reached earlier in the day. Analysts cited profit-taking by investors and robust US economic data as primary reasons for the downturn. David...
READ MOREOn Tuesday, October 22, spot silver prices surged by over 3%, reaching a new 12-year high. Silver hit $34.86 per ounce during the session, closing at $34.847 per ounce, the highest price recorded since late 2012. This price increase comes amid broader risk aversion in global markets, even as US Treasury yields continue to rise....
READ MOREOn Wednesday, October 23, spot gold prices fell sharply, dropping more than 1% after hitting a record high earlier in the day. The decline came as the U.S. dollar strengthened, U.S. bond yields rose, and tensions in the Middle East appeared to ease, prompting investors to take profits. Spot gold closed down \$33.44, or 1.22%,...
READ MOREGlobal refined copper production increased by 5.1% year-on-year to 18.33 million tonnes from January to August 2024, while consumption rose by 2.5% to 17.8 million tonnes, the International Copper Study Group (ICSG) reported on Tuesday. This growing gap between production and consumption led to a surplus of 535,000 tonnes, up significantly from the 75,000-tonne surplus...
READ MOREGlobal primary aluminium production, including estimated figures for China, totaled 6.007 million tonnes in September 2024, an increase compared to 5.930 million tonnes in the same month last year. This corresponds to an average daily output of 200,200 tonnes, up from 197,700 tonnes per day in September 2023, and unchanged from the previous month. The...
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