supplyanddemand
The silver price saw significant gains through the first half of 2024, hitting levels not seen in over a decade. After starting the year trading in the US$22 per ounce range, the price of silver saw little change until March, when the white metal began to gain momentum following a US Federal Reserve meeting. While the Fed left interest rates steady at that time, dovish language provided critical support for silver as investors pushed the price above US$25. Silver continued its upward trend through April and into May, when it climbed above US$32 for the first time since November 2012 and set a ...
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A copper crunch is coming as demand builds and the hunt for viable deposits comes up short. That’s according to Robert Friedland, a well-known mining industry financier whose current roles include board leadership positions at Ivanhoe Mines (TSX:IVN,OTCQX:IVPAF) and Ivanhoe Electric (TSX:IE,NYSEAMERICAN:IE). "We see a crisis coming in physical markets, and we see a requirement for much, much higher copper prices," he said in a recorded interview played at the Rule Symposium, held from July 7 to 11 in Boca Raton, Florida. Copper demand “essentially infinite”Speaking first about copper demand, F...
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Kazakhstan's announcement of a significant increase in the Mineral Extraction Tax (MET) for uranium sent uranium stocks trending higher on July 10 as concerns of a potential supply disruption grew due to Kazakhstan's position as the world’s largest uranium-producing country. The new tax rate changes will come in two waves. The first, effective January 1, 2025, will impose an initial hike from the current 6 percent to 9 percent. Starting in 2026, they will take on a more complex and differentiated rate structure, structured to vary based on production volumes and the price of natural uranium co...
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Demand for lithium is expected to grow in the next 10 years as electric vehicle proliferation continues and the energy storage sector expands. While experts are optimistic about the market’s medium- and long-term fundamentals, the current market oversupply and weak EV sales have weighed on prices over the last year. Although prices have remained subdued through 2023 into 2024, investor interest in the battery metal market has grown, which was evident at Fastmarkets’ 2024 Lithium Supply and Battery Raw Materials conference. The four-day event saw record attendance, with more than 1,100 attendan...
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The People’s Bank of China (PBOC) revealed on Sunday that it did not purchase gold in June after doing the same in May. Since setting a record high of US$2,450 per ounce in May, gold prices have been volatile. Gold started July at about US$2,330 before rallying 3 percent last week to US$2,390, marking the most significant weekly gain in three months. However, it fell back down following the news of the PBOC's decision to hold off on bullion purchases. Prior to its lack of purchases in May, the PBOC had purchased gold each month since January 2023. As of June, the PBOC's gold holdings total 72....
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Speaking to the Investing News Network, Chen Lin of Lin Asset Management shared his outlook for silver, explaining that the white metal could move quickly to the US$50 per ounce level once market participants realize how large the divide between supply and demand really is. When asked about the most important drivers for silver right now, he pointed to the solar industry, noting that two to three years ago it was consuming 100 million ounces of silver; that amount rose to 200 million ounces last year. This year, the Silver Institute is projecting a further 40 million ounces of solar demand, bu...
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China's State Council has reportedly rolled out a new set of regulations aimed at strengthening control over the country's rare earths resources and securing its local supply chain. According to a June 29 Reuters article, the regulations, which are set to take effect on October 1, introduce stringent oversight on the mining, smelting and trading of rare earth elements. These 17 minerals are key for high-tech applications, including electric vehicle magnets and consumer electronics. China's new rules assert that rare earths resources are owned by the state, which will strictly supervise the ind...
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After a record-setting first quarter, the gold price started 2024's second quarter with strong momentum, breaking through US$2,400 per ounce in the middle of April and setting new all-time highs. At the beginning of April, gold was at US$2,250, finding support from investors betting on a June interest rate cut from the US Federal Reserve, as well as strong central bank buying. The precious metal found further support in May as geopolitical and sovereign debt concerns weighed on investors in China and the Middle East. On May 20, gold hit US$2,450.05, its highest price ever. Read on for more on ...
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The US Department of Energy (DOE) said it plans to invest up to US$2.7 billion to strengthen the domestic nuclear fuel supply chain as part of President Joe Biden's Investing in America agenda. In a request for proposals issued on June 27, the DOE said it is looking to buy low-enriched uranium (LEU) from domestic sources in order to enhance national energy security and create new jobs in the nuclear industry. The DOE also wants to stimulate the development of uranium enrichment capacity in the US, and believes that this initiative will promote the safe and responsible buildout of facilities de...
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Central bank gold purchases have been an important story for the precious metal over the last several years, providing critical support as the gold price has soared to record levels. The World Gold Council (WGC) released its latest survey on central bank gold reserves on Tuesday (June 18), indicating that 29 percent of central banks intend to increase their gold holdings over the next year. The survey was conducted this year between February 19 and April 30, and includes responses from 70 central banks. This year, the main reason for central banks to hold gold is as a long-term store of value ...
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