Big boost for platinum, palladium as China exchange internationalises trading

From Monday, September 28, China will give international investors access to trading in palladium and platinum on the Guangzhou Futures Exchange (GFEX), where domestic exchange activity has been improving price discovery since the launch in November last year. Now, the GFEX’s investment scope is reaching out to foreign institutional investors and giving them full access to platinum and palladium futures …

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US, Japanese officials discussed China’s yttrium curbs

US and Japanese government officials and company officials met to discuss supply bottlenecks affecting ‌access to Chinese yttrium, a rare earth metal vital to aerospace and chipmaking, ⁠two weeks before President Donald Trump’s summit ⁠with Chinese President Xi Jinping, a document seen by Reuters shows. The meeting, convened by the Trump administration on September 10, provided “an opportunity for candid …

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Gold’s Next Scarcity Problem Isn’t Price, It’s Finding the Next Big Deposit

Miners have rarely had more cash. The deposits needed to replace what they mine are becoming considerably harder to find. In the early 1960s, geologists in Nevada began finding gold where miners had spent generations learning not to look. Gold did not always arrive in spectacular veins that could be seen in the rock. Sometimes it was microscopic, scattered through …

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Platinum Just Hit a 17-Year High and UBS Thinks It’s Only Halfway There

Platinum has quietly doubled in price since February and just broke through a 17-year high, gaining nearly $500 an ounce in the past month alone. UBS raised its forecast to $2,500 an ounce, pointing to a South African supply crunch and Europe’s reversal on its 2035 combustion-engine ban. Platinum has surged to a 17-year high, gaining nearly $500 an ounce …

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Oil Is Still Setting the Terms for Gold

Gold is starting Wednesday with one eye on the barrel and the other on the Fed. Bullion was holding around $4,360/toz after another restless session on Tuesday, when prices swung in yo-yo fashion before finishing modestly higher. The immediate trigger remains the same one running through the broader macro complex this week: whether the first signs of diplomatic traction between …

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Copper price closes in on new record as Shanghai, London warehouses empty out

Copper climbed for a sixth straight session on Tuesday, its longest winning streak in four months, as Chinese buyers stocked up ahead of next week’s holidays and shrinking inventories in Shanghai and London pointed to a physical market that is running short of metal. Comex copper for December delivery, the most active contract, rose as much as 1.6% to $6.8710 …

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Indonesia’s nickel production curbs leave market unconvinced

Indonesia is learning that building a dominant position in the nickel market is the easy part. Leveraging its influence over supply to control prices is proving much trickier. The Southeast Asian country now accounts for over 60% of global output of a metal used by both stainless steel makers and electric vehicle (EV) battery manufacturers. Indonesia‘s dramatic rise as a …

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China’s rare earth exports to US fall 20%

China’s shipments of rare earth magnets to the US fell sharply last month, according to official Chinese customs data released Sunday. Supply of the materials, critical to high-end manufacturing, is expected to be a major point of friction at Trump’s summit with Xi this week. Shipments fell to 512 tonnes in August, down 20% from July and 13% below the …

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