Anglo American shareholders voted in favor of the company’s combination with Teck Resources, clearing a key step toward the creation of a $50 billion metals producer focused on copper mines in Chile and Peru https://t.co/lfGBYjXUKp ...

Group 1 - The German metals company is currently in discussions with Worthington Steel [1] - It remains uncertain whether an official offer will be made [1]

Klöckner said Worthington Steel s conducting due diligence with a view to a potential takeover of the German metals company. https://t.co/t2mtA4rTU9 ...

Goldman Sachs Group Inc. injected some caution into the debate over copper’s prospects, saying its surge past $11,000 a ton will prove short-lived as there’s still more than enough metal to meet global demand. “Most of the recent copper price increase is based on expectation of future market tightness, rather than current fundamentals,” the bank’s analysts, including Aurelia Waltham, wrote in a note. “We do not expect the current breakout above $11,000 to be sustained.” Most Read from Bloomberg Copper m ...

VANCOUVER, BC - TheNewswire - December 2, 2025 – Element79 Gold Corp. (CSE: ELEM) (OTC: ELMGF) (FSE: 7YS) ("Element79", or the "Company”) The Company announces that, in connection with its previously announced proposed arrangement transaction with Synergy Metals Corp. ("Synergy") pursuant to an arrangement agreement dated January 10, 2025, as amended by an amending agreement dated April 30, 2025 (together, the “Arrangement Agreement”), it has entered a second amending agreement to the Arrangement Agreement ...

Market Overview - The A-share market exhibited a strong recovery with a "high opening, fluctuating, stabilizing in the afternoon, and increased volume at the close" [1] - By the end of trading on December 1, the Shanghai Composite Index rose by 0.65% to 3,914.01 points, the Shenzhen Component Index increased by 1.25% to 13,146.72 points, and the ChiNext Index gained 1.31% to 3,092.50 points [2] Technical Analysis - The Shanghai Composite Index successfully surpassed the 60-day moving average (3,885-3,890) and approached the 3,930 gap area; the ChiNext Index broke through the 3,050 resistance level, with a MACD golden cross about to be established [3] - The market's volume increased to over 1.8 trillion, indicating a shift from "low-position ambush" to "main line attack," with the potential to challenge the 3,930 gap [4] Industry and Hotspot Capture - AI hardware on the edge experienced a significant surge, driven by the launch of the "Doubao mobile assistant" and Huawei's "Hanhai" AI toy, with global smart glasses shipments increasing by 64% year-on-year [5] - Industrial metals saw strong gains, with copper prices breaking through $11,200 and silver reaching new highs, prompting a re-evaluation of resources [5] - Companies such as Jiangxi Copper, Yunnan Copper, and Zijin Mining saw substantial increases, as funds viewed metals as dual-attribute assets against inflation and new productive capacity [5] Forward Strategy - The Shanghai Composite Index's 3,930 gap is a critical point; if it breaks through with sustained volume, the market may accelerate; however, if it peaks and retreats, short-term profit-taking pressure may arise [6] - Maintaining a volume level above 1.8 trillion indicates strong recognition from incremental funds; a rapid decline could lead to structural rotation [6] - A short-term strategy of "main line rotation, high-low switching, and rhythm adjustment" is recommended to rationally respond to market fluctuations [7]

Group 1 - Silver prices reached an all-time high of $57 per ounce, while Comex silver futures hit a record of $57.81, indicating a significant surge in the commodity market [3] - Copper prices also rose sharply, reaching $11,210.5 per ton, contributing to a heated commodity market as 2024 approaches [3] - The current price surge is attributed to a combination of global inventory shifts, structural shortages, and a dovish turn from the Federal Reserve [4] Group 2 - China's silver exports surged to 660 tons in October, marking a historical peak, while Shanghai Gold Exchange's inventory fell below 716 tons, the lowest since 2016 [5] - Concerns over potential tariffs have led traders to move silver and copper from Asian warehouses to the U.S. to lock in price premiums, resulting in a more than 40% drop in London copper inventories since late August [5] - Codelco, the world's largest copper producer, plans to increase its annual premium for copper shipments to China from $89 per ton to $350 per ton, reflecting heightened anxiety over raw material supply [5] Group 3 - Expectations for interest rate cuts have strengthened, with market bets on a 25 basis point cut by the Federal Open Market Committee in December rising to 80% [6] - The low interest rate environment reduces the opportunity cost of holding silver, leading to increased net long positions in ETFs and hedge funds, which have reached a four-year high [6] - The simultaneous decline in exchange inventories, Chinese social inventories, and bonded warehouses, combined with the expectation that new mining capacity in South America will not materialize until at least Q2 2025, is likely to amplify price volatility [7] Group 4 - Analysts expect London copper to challenge $12,000, while silver could reach $60 if it maintains above $57, indicating a potential new commodity supercycle [7] - The linkage between silver and copper prices is seen as a signal of a new phase in the commodity market, beyond the simple resonance between precious and industrial metals [7]

Copper rose in the US after hitting a record high on the London Metal Exchange on Friday, with supply tightness exacerbated by an hours-long halt to trading https://t.co/Ne6YyIOD3X ...

Commodity Outlook Summary Industry Overview - The report focuses on the commodities sector, highlighting trends and forecasts for various commodities including precious metals, industrial metals, energy, and agricultural products [1][2][3][10]. Key Themes and Forecasts 1. **Strong Performance Expected in 2026** - Commodities are projected to have another strong performance year, with the ICE MLCX TR index up 6% year-to-date, driven by gains in precious and industrial metals [1]. - Global GDP is forecasted to expand by 3.3% in 2026, with inflation expected to remain sticky at 2.9% [1][10]. 2. **Gold and Silver Outlook** - Gold prices could potentially reach $5,000/oz due to central bank and investor buying, supported by fiscal and monetary policy uncertainty [6][10]. - Silver demand may face headwinds from solar PV technology, but overall, both metals are expected to benefit from geopolitical risks and inflation expectations [2][10]. 3. **Industrial Metals Demand** - Industrial metals are expected to remain tight, with copper and aluminum likely to benefit from supply disruptions and stockpiling [2][10]. - The report anticipates a deficit in copper due to limited mine projects and outages at major mines [41]. 4. **Energy Sector Dynamics** - Oil prices are expected to average $60/bbl for Brent and $57/bbl for WTI in 2026, with a surplus in the oil market due to excess supply from OPEC+ [10]. - Geopolitical risks, particularly from Venezuela and the Russia-Ukraine conflict, could tighten the oil market despite the overall bearish outlook [2][10]. 5. **Agricultural Commodities** - A bearish outlook is maintained for wheat and soybean meal, while soybean oil is expected to see substantial upside due to strong demand [2][10]. - Agricultural commodities are influenced by robust supply growth and subdued demand, particularly in the context of ongoing geopolitical tensions [2][10]. Additional Insights - **Strategic Inventory Accumulation** - Strategic inventory accumulation, particularly by China, is expected to continue, supporting both energy and metals markets despite overall demand and balance conditions [52][53]. - The report notes that stockpiling has been influenced more by trade policy than geopolitical strategy in the metals sector [53]. - **Diversification and Inflation Hedging** - Commodities are increasingly viewed as essential for diversification and inflation hedging in investment portfolios, especially under current macroeconomic conditions [3][10]. - The report suggests that commodities could provide a unique hedge to traditional 60/40 portfolios amid rising inflation and geopolitical risks [3][10]. - **Market Risks and Opportunities** - Upside risks for commodities include potential geopolitical shocks and renewed demand from sectors like AI and defense spending, which could support industrial metals [41][10]. - Conversely, downside risks stem from excess supply in energy markets and potential economic slowdowns affecting demand [2][10]. Conclusion - The commodities sector is poised for a strong performance in 2026, driven by various macroeconomic factors, strategic inventory accumulation, and ongoing geopolitical uncertainties. Investors are encouraged to consider commodities for diversification and as a hedge against inflation.

Group 1 - Kostas Bintas, head of metals at Mercuria Energy Group, reiterated a bullish outlook on copper prices, warning of potential depletion of copper inventories outside the U.S. due to a surge in metal inflow into the U.S. market [1] - Bintas highlighted that profitable arbitrage trading is returning, leading to supply shortages outside the U.S. and pushing copper prices higher, with even Chinese buyers likely needing to pay higher premiums to secure supply [1][2] - The current market dynamics, characterized by weak demand and surplus yet rising prices, is seen as a "special dynamic" that could lead to shortages in the Chinese market as metal continues to flow to the U.S. [2] Group 2 - The U.S. has become the largest consumer of copper globally, with significant premiums on New York futures prices compared to London benchmarks, driven by U.S. policy and tariff speculation [3] - The market is experiencing a "dual-speed" mechanism, where LME and Shanghai copper contracts are supported by Russian and Chinese metals, while metals deliverable to Comex enjoy high premiums [3] - Traders are pushing up premiums for deliverable copper, with some attempting to buy Chilean copper at premiums exceeding $500 over LME prices, indicating a significant price increase in the Asian market [4] Group 3 - Bintas anticipates a tighter market scenario if U.S. copper prices continue to rise to $12,000 or $15,000, which would lead to a significant outflow of Chinese copper cathodes [5] - As Chinese buyers return from the Spring Festival, they may find insufficient copper supply in the market, exacerbating the tightness [5]