The nickel market, which heavily relies on demand from the stainless steel and electric vehicle (EV) sectors, is proving to be challenging to forecast due to its volatility. After a significant spike in 2022 triggered by geopolitical events, nickel prices have since stabilized but remain sensitive to shifts in market conditions. Nickel demand is closely...
READ MORESigma Lithium, a major lithium producer, reported strong operational progress for the third quarter, achieving its production target and maintaining some of the lowest cash unit operating costs in the lithium industry. During Q3, Sigma produced 60,237 tons of its Quintuple Zero Lithium Concentrate, a 22% increase from the previous quarter and slightly above its...
READ MORECopper prices edged higher on Tuesday as the U.S. dollar rally paused, although concerns over demand from China and potential U.S. tariffs continued to weigh on the market. Three-month copper on the London Metal Exchange (LME) rose 0.5% to $9,114.50 per metric ton by 0320 GMT, while the most-traded December copper contract on the Shanghai...
READ MORENorthvolt, a Swedish company specializing in energy storage solutions for electric vehicles, has announced the sale of its California plant to Lyten, a U.S. start-up focused on lithium-sulfur battery technologies. The decision is part of Northvolt’s strategy to concentrate its resources on the European market and bolster its industrial ambitions in the region. As part...
READ MOREThe Aluminum Monthly Metals Index (MMI) posted a modest 1.38% increase from October to November, as aluminum prices moved sideways throughout October. Although aluminum prices only rose by 0.99% during the month, they managed to outperform other base metals, such as copper, nickel, zinc, and tin, which saw more significant declines. However, prices began slipping...
READ MOREGold prices surged on Monday, climbing 1.9% to close at $2,611.73 per ounce after six consecutive days of losses. The increase came as the U.S. dollar paused its rally, and renewed uncertainty from the escalating Russia-Ukraine conflict rekindled demand for safe-haven assets. FXStreet analyst Christian Borjon Valencia noted that gold rebounded from a two-month low...
READ MOREAluminium prices on the London Metal Exchange (LME) rose on Tuesday, while prices on the Shanghai Futures Exchange (SHFE) declined. The market is reacting to China’s recent announcement to remove a 13% export tax refund for certain aluminium products starting December 1. Three-month aluminium on the LME was up 0.6% at $2,623 per metric ton...
READ MORECopper prices edged lower on Monday as investors awaited developments on potential U.S. tariffs and anticipated economic stimulus from China. Aluminium also retreated, reflecting market response to China’s recent decision to scrap export rebates. By 1125 GMT November 18, three-month copper on the London Metal Exchange (LME) dipped 0.1% to $8,994.50 per metric ton, extending...
READ MOREDrugstore magnate Dirk Rossmann has once again expanded his stake in Aurubis, a leading copper manufacturer. His investment firm, Rossmann Beteiligungs GmbH, now controls around 20.7% of Aurubis, up from approximately 17%, according to a mandatory disclosure on Monday. This ongoing increase in ownership has fueled market speculation about a potential takeover. Rossmann, founder of...
READ MOREBase metals prices largely traded higher on Monday, buoyed by dip-buying from physical consumers. However, gains were limited by a strong dollar and sluggish demand from China, which capped any significant upward movement. Three-month copper on the London Metal Exchange (LME) inched up by 0.1% to $9,013.50 per metric ton by 0629 GMT. Aluminium rose...
READ MOREKent Masters, CEO of Albemarle, the world’s largest lithium producer, has expressed concerns about shifting critical mineral supply chains away from China in North America and Europe, calling it economically impractical under current market conditions. “We were trying to pivot to the West… the prices we see in the market don’t really allow us to...
READ MOREGold prices advanced on Monday after experiencing their steepest weekly drop since 2021, as the U.S. dollar eased and traders assessed the potential for Federal Reserve rate cuts given Donald Trump’s anticipated return to the White House next year. Spot gold climbed more than 1% to above $2,597 per ounce, following a loss of more...
READ MOREEQ Resources (EQR) has executed a binding heads of agreement (HoA) to acquire 100% of Tungsten Metals Group Limited (TMG) and its subsidiaries, along with George Chen’s interest in Asia Tungsten Products Co Ltd (ATC). The agreement will result in EQR obtaining full ownership of TMG Group, marking a significant step toward diversification and vertical...
READ MOREThe Adani Group, one of India’s leading conglomerates, has announced plans to expand its footprint in the metals industry with a $5 billion investment over the next five years. The investment will fund aluminium and steel production ventures, as well as an expansion of copper production facilities in India. The Group’s move into metals production...
READ MORENew capacity for converting bauxite into alumina is expected to come online next year, potentially easing the current tight supplies and halting the record-breaking price rally of this key material used in aluminium production. Higher alumina prices outside China have turned the country, the world’s largest producer and consumer, into a net exporter this year...
READ MOREBHP Group Ltd. Chief Executive Officer Mike Henry emphasized that soaring global demand for copper will necessitate an investment of $250 billion over the next decade. This major capital requirement is expected to drive further mergers and consolidations in the mining industry, as companies seek to pool resources and expertise. “New deposits in certain key...
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 MOREIB2, a company in the aluminium industry, has received a €100 million investment from a group of financial and industrial investors to further develop its sustainable alumina technology. The funding will be used to enhance IB2’s process for producing more environmentally friendly alumina. The investment, obtained over the past 12 months, includes support from Glencore,...
READ MOREKorea Zinc Co.’s chairman, Choi Yun-beom, will step down from his role as the head of the board after canceling a planned $1.8 billion share sale. The decision is seen as an attempt to address concerns from the company’s largest shareholder amid an ongoing battle for control. The world’s largest refined zinc producer announced on...
READ MOREDeep sea mining is anticipated to have a significant negative impact on terrestrial mining, potentially risking over $560 billion in annual export earnings, according to a new report from financial think tank Planet Tracker. The study, titled “Race to the Bottom,” argues that the financial benefits of seafloor mining are negligible and calls on governments...
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 MOREBHP Group is expected to invest at least $7 billion in copper extraction from the Escondida mine in Chile in the coming years, according to analysts quoted by Reuters. Representatives of BHP may announce these plans next week during a roadshow for the Escondida and Spence deposits. Copper is a critical element in BHP’s long-term...
READ MOREChina Nonferrous Mining Corporation (CNMC) has committed to investing over $1.5 billion in Zambia to boost copper production, as part of a broader effort to support the country in reaching its goal of 3 million tonnes of copper output annually by 2031. Projects under this investment include the redevelopment of Shaft 28 in Luanshya and...
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