supplyanddemand
US President Joe Biden signed the Prohibiting Russian Uranium Imports Act into law on Monday (May 13), effectively starting the process of ending US dependence on imported uranium supply. “This new law reestablishes America’s leadership in the nuclear sector. It will help secure our energy sector for generations to come,” said National Security Advisor Jake Sullivan in a White House statement. “And — building off the unprecedented US$2.72 billion in federal funding that Congress recently appropriated at the President’s request — it will jumpstart new enrichment capacity in the United States an...
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The World Platinum Investment Council (WPIC) has released its latest platinum market report, adjusting its 2024 deficit projection up to 476,000 ounces as weaker supply is outpaced by sustained auto and industrial demand. “For the second consecutive year, the platinum market will post a meaningful deficit underscored by platinum's sustained demand and supply vulnerability amidst global economic challenges,” said WPIC CEO Trevor Raymond. “While we currently forecast a deficit of 476 koz, it is worth mentioning that a revision to the bar and coin investment series, based on new field research an...
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Copper prices broke US$10,000 per metric ton this week, hitting highs not seen in two years. The last time they crossed the threshold was in March 2022 amid tensions following Russia's invasion of Ukraine. Although concerns about demand from China remain, worries over dwindling global supply are heating up. Copper has also been gaining momentum on anticipation of interest rate cuts from the US Federal Reserve. Looking at supply, Goldman Sachs (NYSE:GS) has warned of intensifying stress, with analysts at the firm projecting a possible "stockout episode" by the fourth quarter due to growing defi...
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In a conversation with the Investing News Network, Joe Cavatoni, senior market strategist, Americas, at the World Gold Council, broke down the organization's latest gold demand trends report. Aside from key demand drivers like central bank buying, he highlighted differing sentiment in the west and east. "This is an interesting time. Right now the price has been impacted less so by the expectation of US rates and the US dollar, and more so by the geopolitical and overall outlook for investment in the Asian markets, the eastern markets. And that's actually done a real shift in the overall sentim...
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After months of negotiations, Boliden (STO:BOL) has reached an agreement with worker's unions and local management to reopen the Tara operation, which is Europe’s largest zinc mine. Tara, operated by the Sweden-based mining company, is an underground zinc and lead mine with a production capacity of 2.6 million metric tons (MT) per year, making it the largest zinc mine in the continent. Located in Navan, Ireland, the Tara mine's reopening follows its closure in July 2023 due to a combination of challenges, including unfavorable zinc price trends and operational hurdles. The accord, aimed at ens...
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The World Gold Council (WGC) has released its latest gold demand trends report, highlighting a record quarterly average price of US$2,050 per ounce for the yellow metal on the back of strong demand. This represents a substantial 10 percent increase year-on-year and a 5 percent rise quarter-on-quarter, culminating in the precious metal reaching new heights and closing the three month period at US$2,214. “The upside potential has been really exciting to watch, but definitely something that is giving us a signal that there might be more than just strategic investment at play. Likely some speculat...
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Prices for Brent Crude and West Texas Intermediate trended higher during the first quarter of 2024, following a volatile 2023 which saw prices make broad fluctuations but end the year range bound at their start levels. Ongoing tensions stemming from the Russia-Ukraine conflict led to concerns about potential disruptions to global oil supplies, contributing price support. Global economic conditions, such as inflation concerns, monetary policy decisions, and geopolitical tensions in oil-producing regions, played a significant role in shaping oil price movements during the quarter with both bench...
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2023 was a relatively lackluster year, silver largely traded on volatility between US$22 and US$25 per ounce. The white metal started 2024 with less volatility and remained rangebound for the first eight weeks. Silver dropped to US$22.08 per ounce on January 21, marking its quarterly low. Silver started seeing gains in March with the expectation that the US Federal Reserve was getting closer to lowering interest rates. Improving sentiment gave the precious metals markets momentum, causing silver to reach its quarterly high of US$25.62 on March 20, before continuing on to an 11 year high of US$...
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Industrial demand for silver rose to a new record high in 2023, coming in at 654.4 million ounces (Moz). The surge was fueled by significant advancements in green economy sectors, particularly photovoltaics (PV), where demand skyrocketed by 64 percent year-on-year to hit 195.3 Moz, surpassing previous estimates. PV is included in the electrical and electronics segment, which experienced demand growth of 20 percent year-on-year. According to the Silver Institute's latest World Silver Survey, other green energy applications, such as power grid construction and automotive electrification, contrib...
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Copper prices on the London Metal Exchange (LME) saw upward momentum in the first quarter of the year on the back of tightening supply and increasing demand from the energy transition. After bottoming out at US$7,800 per metric ton (MT) in the fall of 2023, copper prices bounced back to start 2024 in higher territory, but elevated supply kept the red metal trading in the US$8,000 to US$8,500 range until mid-March. Since then, copper has seen strong gains, reaching a quarterly high of US$8,973 on March 18. With increasing market volatility since the start of April, prices continued trending up ...
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