Hard Assets

China’s main copper smelters increased production in April by 0.85% from the previous month, state backed research house Antaike said on Tuesday, while zinc output also rose and lead production fell from March.
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Shortages of copper and declining inventories could drive prices to levels beyond current record highs unless scrap supplies increase — scrap accounts for about a third of the roughly 30 million tonnes of annual global copper supplies.
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Gold prices held close to three-month highs on Tuesday, as investors weighed rising inflation expectations and comments from Federal Reserve officials for clues on monetary policy going forward.
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Gold prices inched up on Tuesday as a weaker dollar and a pullback in Treasury yields boosted the metal’s appeal, while investors awaited U.S. consumer price data to measure whether inflationary pressure was building.
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Rising demand for lithium is stoking prices for the electric vehicle battery metal, fueling long-delayed expansions that still may not produce adequate supplies that automakers need to meet aggressive production plans.
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Gold rose more than $70 this week after finally cracking the psychologically important $1,800 an ounce level.
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The world’s top copper producer Chile is giving bulls another reason to cheer while prices soared to an all-time high on Friday as optimism about a global rebound from the pandemic spurs a surge across commodities markets.
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Gold and silver prices are higher in early morning U.S. trading Friday and hit 10- and 9-week highs, respectively.
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Iron ore prices jumped to a fresh high on Thursday after China “indefinitely” suspended all activity under a China-Australia Strategic Economic Dialogue, in the latest setback to the strained relations between Beijing and Canberra.
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Zambia said a lack of capital halted production at a copper mine it seized from Indian billionaire Anil Agarwal’s Vedanta Resources Ltd., just as the metal surges toward a record.
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Warning #1: Bank of America sees transitory hyperinflation coming. Warning #2: there is nothing "transitory" about this.
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The gold market is holding on to modest gains as the U.S. service sector sees softer-than-expected momentum, according to the latest data from the Institute for Supply Management (ISM).
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Copper prices climbed back towards $10,000 per tonne on Tuesday, supported by prospects for higher demand while inventories dwindle.
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The precious metals have advanced another step in their journey to reclaim their historical status as a recognized currency in the U.S.
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Silver led gains in precious metals as the dollar dropped and a report showed U.S. manufacturing cooled in April, boosting demand for haven assets.
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