Skip to navigationSkip to contentSkip to footerHelp using this website - Accessibility statement
  • Advertisement
    Markets

    Commodities

    This Month

    Rio Tinto Group has declared force majeure on alumina cargoes from its refineries in Queensland.

    Rio Tinto declares force majeure on Australian alumina cargoes

    The company notified clients that its Queensland refineries have been unable to run properly due to a regional shortage of gas.

    • Archie Hunter and Thomas Biesheuvel
    Soaring demand has transformed lithium from a niche metal into a closely watched commodity.

    Lithium miners shake up trading to tackle wild price swings

    Mining companies are changing the way lithium is bought and sold in an effort to curb volatility and get some industry-wide pricing.

    • Annie Lee and Yvonne Yue Li
    Copper prices have surged more than 25 per cent on the London Metal Exchange this year.

    Panicked traders position for mega-rally as metal prices hit record

    Copper and gold prices surged to record highs on Monday morning as bullish investors piled in and bears were forced to cover short positions.

    • Alex Gluyas
    Copper prices on COMEX have soared around 28 per cent this year.

    Panic sets in as short squeeze rockets copper price

    A violent spike in copper futures traded in New York has caught markets off guard and sent traders scrambling to cover short positions.

    • Alex Gluyas
    Investors are hoping for more policy support from the Chinese President.

    Iron ore’s big China property problem isn’t going away

    Pockets of strength in the Chinese steel market have boosted the raw material after a plunge below $US100 a tonne early last month but investors are cautious.

    • Annie Lee and Jessica Zhou
    Advertisement

    April

    Anglo American said BHP’s bid “significantly undervalues” the target.

    Copper hits $US10,000 as BHP’s bid releases the bulls

    Copper hit $US10,000 a tonne for the first time since 2022 as traders took BHP’s takeover bid for Anglo American as a vote of confidence for the metal.

    • Alex Gluyas
    The London Metal Exchange Index has surged more than 10 per cent quarter-to-date while precious metal prices are up 9 per cent.

    Investors pile into miners as commodity rally heats up

    Surging copper, gold and oil prices are fuelling a rotation into mining stocks as analysts scramble to adjust their profit forecasts for the sector.

    • Alex Gluyas
    Copper has finally broken out of the tight range it traded between for the past 18 months.

    Copper eyes $US10,000 as ‘super squeeze’ intensifies

    The metal surged to a two-year high this week as traders ramped up bets that copper’s bull market is unfinished business.

    • Alex Gluyas
    For data-led trading strategies the energy transition promises to be a boon because it will increase complexity and require more sophisticated tools to model markets.

    Commodity traders bet on big data and AI

    Firms that traditionally relied on political connections, handshakes and logistical skill to move natural resources to willing buyers are increasingly focused on how to apply AI.

    • Updated
    • Tom Wilson and Malcolm Moore
    Gold is often touted as a safe haven investment when risk assets are sold off.

    Commodity markets perplexed why gold keeps going up

    The precious metal’s decoupling from the traditional drivers of prices has analysts divided on its outlook.

    • Alex Gluyas
    The Perth Mint has found itself in hot water on the back of a Four Corners report.

    Who is the ‘massive player with deep pockets’ behind gold’s surge?

    A powerful force is stalking the world’s gold market and it is operating in the shadows. Whoever it is – or they are – seems insensitive to cost.

    • Ambrose Evans-Pritchard
    A large share of LME metals are underpinned by Russian metal. Pictured: Matthew Chamberlain, CEO of the LME.

    LME bans new Russian metal, but braces for a flood of old stock

    Some traders and producers have argued that exchange should ban all Russian material to avoid being overwhelmed by a flood of unwanted stock, which they say is depressing prices.

    • Jack Farchy and Mark Burton
    About time: Tribeca’s Ben Cleary has been waiting for copper to reassert itself.

    Copper is back as investors cash in on the ‘reflation trade’

    A new commodity upswing is under way, creating widespread opportunities for investors. But pundits warn that could also contribute to stickier inflation keeping rates higher for longer.

    • Alex Gluyas
    Demand for gold, including by investors and central banks, is on the up amid inflation and geopolitical concerns.

    Gold’s dizzying ascent isn’t over yet, say fundies

    The precious metal has surged nearly 20 per cent since February, but macro fund managers expect the momentum to continue.

    • Sybilla Gross and Yvonne Yue Li

    Copper trades near 15-month high as Citi sees ‘explosive’ growth

    Citigroup said there’s potential for “explosive price upside” in the metal in the next three years thanks to supply disruptions and rising demand.

    • Jack Ryan
    Advertisement
    Pilbara Minerals’ lithium mine in Western Australia. The company has warned that a fall in lithium price means shareholders shouldn’t expect a dividend in the first half of the year.

    Why Wall Street banks have got it wrong on lithium

    Sydney fund manager Ethical Partners says their own modelling shows the battery metal has moved “rapidly back” into balance after last year’s collapse, that will continue to support prices (and the sharemarket).

    • Sarah Jones
    Trafigura’s CEO Jeremy Weir said: “These historical incidents do not reflect Trafigura’s values nor the conduct we expect from every employee.

    Trafigura admits founder Dauphin approved bribes

    Trafigura last week became the latest of the world’s largest commodity traders to admit to paying bribes to win business.

    • Jack Farchy
    Capital Economics expects Chinese steel consumption to be flat in 2024 and fall by 0.5 per cent in 2025.

    Iron ore to end 2024 near $US100 a tonne: Capital Economics

    Global steel prices are on “shaky ground” and there’s little reason to expect an increase in demand, according to the London-based firm.

    • Timothy Moore
    Israel’s airstrike on Iran’s consulate in Syria has raised concerns about Brent oil supply.

    Commodity markets flash warning signal for stocks

    The concurrent rally in oil and gold prices shows that geopolitical risks have returned to markets which is a “negative omen” for risk assets.

    • Alex Gluyas
    .

    The era of big mining dividend paydays is coming to an end – for now

    Morgan Stanley’s analysts have told clients that BHP will be particularly affected amid an iron ore price slump. Lithium miners will similar cut their payouts.

    • Alex Gluyas