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: A major financial buyer amassed nearly $200 million for the purchase of physical uranium, sending spot uranium prices higher.1 Positive sentiment on global reactor buildouts carried nuclear equities higher still.
- Base Metals & Copper: The Trump administration stunned markets with 50% tariffs on copper imports into the U.S., double what markets had originally anticipated. This perpetuated continued COMEX-to-LME price arbitrage, as market participants sought to front-run potential tariffs.
- Precious Metals: The gold rally broadened into economically sensitive metals in June, with both silver and platinum outperforming gold. Trade fears, inventory drawdowns, and a recovery in industrial activity accelerated momentum among economically sensitive precious metals.
- Critical Minerals, Battery Tech, & Lithium: Lithium exhibited weakness through most of June before showing signs of recovery late in the month. Meanwhile, rare earth producers ratcheted higher on concerns over Chinese export controls, before reversing some of their gains following a U.S./China trade deal.
Category:Commodities