Metal

Tucked beneath Oklahoma’s Wichita Mountains, a startup’s warehouse holds the only U.S. machine refining nickel—a critical energy transition metal China dominates. Westwin Elements’ pilot facility epitomizes Oklahoma’s push to become America’s hub for processing minerals vital for EVs, defense, and renewables—a sector the U.S. largely abandoned decades ago. Governor Kevin Stitt (R) told Reuters he’s “strategically […]

Gold prices fell over 1% on Monday as traders locked in gains following an eight-week peak, shifting focus towards the Federal Reserve’s upcoming policy decision and ongoing Israel-Iran hostilities. Spot gold slid 1.2% to $3,392.86 per ounce by late U.S. afternoon trading, retreating from its highest level since April 22 reached earlier in the session. […]

U.S. President Donald Trump and UK Prime Minister Keir Starmer announced a limited trade agreement at the G7 Summit on Monday, securing immediate benefits for key British industries while leaving contentious steel tariffs unresolved. The deal, signed by Trump in Canada, delivers concrete wins: The Steel Sticking Point:Despite the progress, US steel and aluminum tariffs […]

1. Supply Squeeze Triggers Backwardation SurgePlunging copper inventories in London Metal Exchange (LME) warehouses have flipped the market into sharp backwardation, with the cash contract premium over three-month futures hitting $93/ton on Thursday – the highest since December 2022. This marks a dramatic reversal from April’s $63/ton discount as: 2. Triple Pressure PointsThe shortage stems from converging forces: 3. Structural […]

President Donald Trump stated Friday that Chinese leader Xi Jinping committed to allowing rare earth minerals and magnets to flow to the United States, signaling a potential thaw in strained trade relations between the economic superpowers. Trump confirmed the agreement in response to a reporter’s question aboard Air Force One, answering simply, “Yes, he did.” […]

Ukraine and the United States are working to make a joint minerals fund operational by the end of 2024, with its first board meeting expected in July, Ukraine’s First Deputy Prime Minister Yulia Svyrydenko announced in Washington on Wednesday. The agreement, which focuses on developing Ukraine’s mineral resources, was finalized in April after weeks of intense negotiations—resulting in terms more favorable […]

Canada is poised to retaliate against the United States over newly imposed tariffs on steel and aluminum, as the European Union (EU) reports positive strides in ongoing trade negotiations. The EU’s trade negotiator, Maros Sefcovic, expressed optimism about the pace of discussions, highlighting concrete progress. Meanwhile, Canada’s Prime Minister, Mark Carney, signaled readiness for reprisals […]

President Donald Trump is preparing to waive key Defense Production Act (DPA) requirements, including congressional approval for projects exceeding $50 million, to accelerate domestic production of critical minerals and weapons. The move, expected to be formalized Wednesday, aims to reduce U.S. reliance on China, which dominates global mineral supply chains. The DPA—a Korean War-era law granting emergency industrial control—was first […]

The U.S. has doubled tariffs on most imported steel (to 50%) and aluminum effective immediately, escalating President Trump’s trade war just as allies face a deadline to submit their “best offers” to avoid even steeper “Liberation Day” tariffs in July. The surprise hike—announced last week and enacted Wednesday—exempts only the UK, which secured a temporary reprieve by agreeing to a preliminary trade […]

Chile’s state copper commission Cochilco upgraded its copper price forecasts for 2025 and 2026 to $4.30 per pound, up from $4.25, citing reduced trade tensions after the US and China agreed to a 90-day tariff pause—while warning of a tighter global supply and slower-than-expected production growth. Key Forecast Revisions 📈 Price Outlook: Drivers of Optimism 🔄 US-China Truce: Tariff pause “eased global trade tensions,” boosting demand hopes.⚡ Energy […]