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: Momentum accelerated on both sides of the pond, as the U.K. and U.S. penned a deal to strengthen cooperation on nuclear power. Meanwhile, uranium miners rallied after U.S. Energy Secretary Chris Wright hinted at the expansion of the strategic uranium reserve.
- Base Metals & Copper: Copper prices rallied following supply disruptions at Freeport McMoRan’s Grasberg mine, the world’s second largest copper operation. At the same time, a wave of deals highlighted the sector’s positive long-term outlook, with the Anglo American-Teck merger standing out as one of the largest mining deals in history.
- Precious Metals: Precious metals extended their rapid advance, as economic data fueled expectations for lower interest rates and a weaker U.S. dollar, strengthening the argument for holding hard assets. Gold breached its all-time high, while silver surged to levels unseen in over a decade1.
- Critical Minerals, Battery Tech, & Lithium: Lithium carbonate prices consolidated in September, as expectations of an earlier-than-anticipated restart of CATL’s Jianxiawo mine pressured the market. Rare earths, by contrast, stood out as a bright spot among critical minerals, extending their advance as global supply chains remain strained by trade tensions.