Copper is trading at its lowest since November. After soaring above $200 this time last year iron ore prices are again coming dangerously close to double digits.
Despite historically low stockpiles – 700kt vs 2.4m tonnes a year ago – industrial metals continue to be hammered down. Nickel’s wild ride ended up going nowhere with the price of the stainless steel ingredient back to where it started the year.
After initially offering safe harbour for investors, gold has now also succumbed to weakness dropping to nine month lows this week.
While prices for lithium have held not far off recent all-time highs, stock prices have not. The Ukraine war lit a fire under PGMs, only to give up those gains and more.
Tough at the top
As fear overtook greed in Q2, MINING.COM’s TOP 50* ranking of the world’s most valuable miners fell by $383 billion – based on primary exchange share price movements converted into US dollars –…
