BofA lowered the firm’s price target on Centrus Energy (LEU) to $285 from $340 and keeps a Neutral rating on the shares. The firm is refreshing its price forecasts for North American Metals & Mining stocks under its coverage, the analyst tells investors. The firm sees the macro backdrop as challenging due to China’s slowing commodity demand but notes this may be offset by a rebound in demand in U.S. and Europe. TipRanks Black Friday Sale Claim 60% off TipRanks Premium for the data-backed insights and re ...

BofA lowered the firm’s price target on MP Materials (MP) to $94 from $112 and keeps a Buy rating on the shares. The firm is refreshing its price forecasts for North American Metals & Mining stocks under its coverage, the analyst tells investors. The firm sees the macro backdrop as challenging due to China’s slowing commodity demand but notes this may be offset by a rebound in demand in U.S. and Europe. TipRanks Black Friday Sale Claim 60% off TipRanks Premium for the data-backed insights and research t ...

BofA analyst Lawson Winder lowered the firm’s price target on Cleveland-Cliffs (CLF) to $12.50 from $14 and keeps a Neutral rating on the shares. The firm is refreshing its price forecasts for North American Metals & Mining stocks under its coverage, the analyst tells investors. The firm sees the macro backdrop as challenging due to China’s slowing commodity demand but notes this may be offset by a rebound in demand in U.S. and Europe. TipRanks Black Friday Sale Claim 60% off TipRanks Premium for the da ...

Core Insights - Black Iron Inc. has focused on completing studies and public hearings necessary for the renewal of its extraction permit at the Shymanivske iron ore project in Ukraine [1] - The company has raised its profile with government agency-backed financial organizations for potential future construction funding [1] - Black Iron submitted proposals to the Newfoundland & Labrador Government to acquire the Julienne Lake undeveloped iron ore resource, supported by global miner Anglo American, and has made the shortlist of bidders [1]

November 21, 2025 02:52 PM GMT Investor Presentation | Asia Pacific 2026 Asia EM Equity Outlook – A Robust Approach for an Uncertain World We recommend tight market-risk positions versus benchmarks with a slight preference for Japan vs. EM in 2026. Stock selection in the form of our GEM, APxJ, China, Japan and Thematic Focus Lists could help generate alpha in a world of continued macro uncertainty. | M | | | | --- | --- | --- | | | | Foundation | | November 21, 2025 02:52 PM GMT | | | | Investor Presentatio ...

Summary of Key Points from the Conference Call Industry Overview - The conference call focuses on the base metals industry, specifically copper and aluminium, with insights from Goldman Sachs analysts. Copper Market Insights - **Long-Term Price Forecast**: The long-term copper price is forecasted to reach $15,000 per ton by 2035, with a 2026 price forecast of $10,500 per ton, slightly below consensus due to a modest surplus in the near term [2][5][62]. - **Supply and Demand Dynamics**: A deficit in copper supply is expected to emerge later in the decade due to resource constraints and demand growth from critical sectors, which will drive prices higher [2][5]. - **Risks to Forecast**: The biggest risk to the $15,000 price forecast is unexpected growth in copper production from the Democratic Republic of Congo (DR Congo), which has historically exceeded market expectations [2][36]. - **Production Growth**: The forecast includes an additional 500,000 tons of production growth from DR Congo by 2035, but this is contingent on various geopolitical and economic factors [36][42]. - **Market Balance**: Current copper prices are seen as insufficient to balance the market over the next decade, necessitating a price of $15,000 per ton to maintain aging mines and incentivize new projects [5][61]. Aluminium Market Insights - **Price Forecast**: Aluminium prices are expected to decline to $2,350 per ton by Q4 2026 due to new supply entering the market, with a long-term forecast of $2,900 to $3,400 per ton from 2030 to 2035 [2][69]. - **Supply Constraints**: Unlike copper, aluminium does not face the same resource constraints, but power availability and financing are critical for new supply growth [6][71]. - **Regional Power Costs**: Power costs, which account for approximately 35% of operating costs for aluminium producers, are expected to influence supply growth, particularly in Europe and North America [6][69]. - **Investment in New Regions**: New aluminium production is anticipated to emerge in frontier jurisdictions such as Central Asia and Sub-Saharan Africa, driven by investments from Chinese firms [71][78]. Key Comparisons and Trade Recommendations - **Copper vs. Aluminium**: The copper-to-aluminium price ratio is projected to rise to 4.4:1 by 2035, compared to an average of 3.8:1 in 2025, indicating a stronger outlook for copper relative to aluminium [9][62]. - **Trade Strategy**: A trade recommendation has been opened for long positions in LME Dec-27 copper and short positions in LME Dec-27 aluminium, reflecting the differing price forecasts for the two metals [2][9]. Additional Insights - **Substitution Effects**: The report highlights the significant impact of substitution, particularly from copper to aluminium, which has been a consistent factor in the copper market [42][51]. - **Scrap Supply Limitations**: Historical overestimations of scrap supply growth have been noted, with capped post-consumer collection rates at around 75% [51][52]. - **Geopolitical Factors**: The US's involvement in DR Congo is expected to influence the pace of project development and production growth, potentially impacting global copper supply dynamics [36][42]. This summary encapsulates the critical insights and forecasts regarding the copper and aluminium markets as discussed in the conference call, providing a comprehensive overview of the current and future landscape of these industries.

#数据 中国10月份稀土磁铁出口5473吨，环比下降5.2%，连续第二个月下降，对美国的出口量却环比飙升56.1%至1月份以来最高水平。10月中国稀土磁铁出口量排名前五的目的地分别是德国、美国、韩国、越南和印度。 https://t.co/ZMysJYKFNV ...

Chilean lithium producer SQM delivered the highest quarterly earnings in two years while signaling the global battery-metal market may finally be emerging from a prolonged glut https://t.co/McJBwsruxR ...

Chinese zinc producers are ramping up exports after a global supply squeeze opened a rare window for overseas sales https://t.co/Md6feRjI1l ...

Figure 11 Green Bay Mineral Resource contained gold sensitivity to cut-off grade by Mineral Resource category. Figure 12 Long section of the Ming Deposit MRE extent and new drilling completed since the previous October 2024 MRE. The MRE remains open and geophysical DHEM conductors indicate the mineralisation likely continues down plunge. Red wireframe is the FWZ mineralisation envelope and gold wireframes are the upper high-grade copper-gold VMS zones. Red on drillholes are assays >0.5% copper. Fig ...