The Global X Research Team is pleased to announce the release of its Monthly Commodities Tracker. This commentary covers the latest developments across several commodities markets, from precious metals to uranium, copper, and the disruptive materials that are powering next-generation technologies. Click the banner below to view the report.
Key Takeaways
- Nuclear Energy & Uranium: The U.S. announced $800 million in grants to support the development of small modular reactors (SMRs). Nuclear momentum expanded worldwide as Japan’s domestic nuclear output regained nearly half of its market share since 2011 amidst an accelerating trend of reactor restarts.
- Copper: LME copper prices advanced to record highs with currency tailwinds outweighing headwinds from weak Chinese consumption. The transfer of physical copper out of international exchanges into U.S. inventories continues to exacerbate supply deficits, tipping prices upward.
- Precious Metals: U.S. labor data and a cut by the Federal Reserve drove dollar weakness, sending global commodities and precious metals higher. Physical gold ETFs benefited from inflows, sending the sector’s total assets under management (AUM) to $530 billion, its highest month-end level in history.
- Critical Minerals, Battery Tech, & Lithium: China began issuing general export licenses for rare earth exports for select entities, easing trade tensions with Western buyers. Meanwhile lithium prices hit their highest level since June 2024 amidst the continued outage of CATL’s Jianxiawo mine.
Category:Commodities