Base metals experienced a turbulent 2024, starting the year cautiously before surging to highs in the second quarter, only to return to initial levels by year’s end. The rally, fueled by optimism over a Chinese economic recovery and global energy transition, peaked in May when copper reached an all-time nominal high and the London Metal...
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 MOREIn early December 2024, China announced a ban on exports of gallium, germanium, and antimony to the United States, escalating the ongoing trade and technology disputes between the two nations. These three minerals are critical for industries ranging from semiconductors to defense. As the leading global producer, China controls 94% of gallium, 83% of germanium,...
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 MOREAs the world accelerates towards green energy solutions, experts are raising concerns about an impending copper shortage that could threaten efforts to provide clean and affordable energy. Swiss bank UBS forecasts a supply deficit of over 200,000 tons by 2025, while the International Energy Forum emphasizes the urgent need for over a billion tons of...
READ MORENegotiations between major overseas aluminum producers and Japanese trading companies over premiums for aluminum ingots for the January-March 2025 period are expected to be prolonged, with some officials suggesting talks could continue into next year. Overseas producers have proposed premiums of $230 to $260 per ton, marking a 31-49% increase from the previous quarter’s rate...
READ MORECopper prices fell on Wednesday on the London Metal Exchange (LME), weighed down by a stronger dollar and technical factors. The market is awaiting more clarity on demand prospects in China, the world’s top metals consumer, as well as possible trade tariffs. Three-month copper on the LME declined by 0.2% to $9,093 per metric ton...
READ MOREGlobal aluminium producers have offered Japanese buyers premiums of $230 to $260 per metric ton for primary metal shipments in the January-March quarter, reflecting an increase of 31% to 49% from the current quarter, according to three sources directly involved in the quarterly pricing negotiations. Japan, a key Asian importer of aluminium, plays a significant...
READ MOREIn Asian morning trading, spot gold prices saw a significant rise from an intraday low of $2,633.85 per ounce to a peak of $2,645.52 per ounce. FXStreet analyst Christian Borjon Valencia pointed out that gold has remained above the $2,600 mark, supported by ongoing geopolitical tensions and speculation regarding a possible rate cut by the...
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