Analysts estimate that copper demand from energy transition sectors will grow at a CAGR of 10.7%, with the EV sector alone driving a 14.3% increase, solar power 5.6%, and wind applications 9.3%. Overall, the demand for copper is projected to grow at a CAGR of 2.6% through 2034.
Source – Stock News
Shipments of refined copper from the central African country jumped by 71% year-on-year to 1.48 million metric tons in 2024. The Congo is now by some margin the largest supplier of refined metal to the world’s largest buyer.
The Congo’s share of Chinese copper imports has risen from 10% in 2020 to 36.7% with volumes steadily increasing over the fourth quarter. December’s imports of 167,735 tons were a new monthly record.
Source – Reuters
President Donald Trump said he will put a 50% tariff on copper imports effective Aug. 1.
“I am announcing a 50% tariff on copper, effective Aug. 1, 2025, after receiving a robust national security assessment,” Trump posted to his Truth Social account Wednesday evening.
Copper prices rose 2.62% after Trump’s comments, then extended its gains before leaping 13.12% upwards and hitting its best one-day gain since 1989.
Source – UPI News
After a strong run for precious metals, gold mining shares still look undervalued.
That’s the view from JP Morgan’s latest note on listed producers, which argues there’s room for substantial upside, especially if its bullish forecast for the precious metal proves right.
Its commodities team is pencilling in a price of $4,100 an ounce for 2026. That’s well above current spot levels of $3,320 and would mark a new all-time high.
Based on that estimate, JP Morgan sees around 40–50 per cent upside to average analyst expectations for earnings before interest, tax, depreciation and amortisation across the sector.
Source – This Is Money
The most active futures on gold are currently trading at $2745.10, up $27.30 or 1% from a day earlier. That level is just about 2% shy of its all-time settlement high of $2800.80 marked on Oct. 30. If the contract closes at current levels, it would be the highest close since last month, according to the Dow Jones Market Data.
“Gold remains the consummate hedge for investors worried about inflation or growth,” wrote Jared Woodard and the team from BofA securities on Tuesday. Gold was labeled as BofA’s “highest conviction investment ideas for 2025.”
Source – BARRON’S
BofA securities – Bank of America Inc., previously Bank of America Merrill Lynch (BAML) is an American multinational investment banking division under the auspices of Bank of America.
Gold prices edged up on Friday, poised for a weekly gain on safe-haven inflows and a U.S. jobs report revealing lower than expected job growth in February, suggesting the Federal Reserve is on track to cut interest rates this year.
Spot gold added 0.3% to $2,918.11 an ounce as of 09:24 (1424 GMT). Bullion has gained over 2% so far this week, as U.S. President Donald Trump’s ever-shifting tariff policies fanned uncertainty.
“Weaker than expected number is giving gold a slight boost… also a weaker dollar for the week right now is helping,” said Bob Haberkorn, senior market strategist at RJO Futures.
Spot silver fell 1% to $32.28 an ounce and platinum shed 0.1% to $965.58, while palladium edged 0.5% up to $946.
Source – Reuters
Source – MSN
