US Revamps Critical Minerals List, Focuses on Copper and Silver
Significant Overhaul of Critical Minerals List: The U.S. government is proposing to add six new minerals, including copper and potash, to its critical minerals list, expanding it to 54 commodities to enhance national security and economic stability.
New Methodology for Risk Assessment: The updated methodology assesses over 1,200 disruption scenarios across various industries, identifying key minerals that pose risks to supply chains, particularly in defense and semiconductor sectors.
Impact on Domestic Projects: This policy change could benefit domestic mining projects, such as those by Rio Tinto and Hudbay Minerals, while also addressing concerns about trade barriers and supply disruptions from neighboring countries.
Public Comment Period: The draft list will be published for public comment starting August 26, with potential additions of metallurgical coal and uranium before finalization later this year.
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Study Reveals Copper Shortage Is Just the Beginning
Copper Supply Constraints: The global energy transition is facing significant supply constraints, particularly with copper, which is experiencing a structural shortage due to high demand from infrastructure needs and slow supply growth.
Long-term Deficit Projections: Analysts predict a cumulative copper deficit of around 19 million metric tons by 2050, starting from 2026, driven by mine disruptions and lengthy permitting processes.
Emerging Graphite Shortage: Graphite is expected to face a technical deficit around 2032, driven by rising demand for lithium-ion battery anodes in electric vehicles, while supply growth struggles to keep pace.
Geopolitical Influences on Metals: Investment trends are shifting towards metals with stable demand and supply risks, with a focus on copper and rare earth elements, as geopolitical factors, particularly China's dominance in refining, continue to shape market dynamics.
Copper Prices Rise as Investors Anticipate Reduced Supply; ANZ Adopts Optimistic Outlook
Copper Futures Recovery: Copper futures rose by 1.7% on the London Metal Exchange after a significant drop of 3% the previous session, as investors refocused on expectations of a tighter market in the coming year.
Supply and Demand Dynamics: The price increase is attributed to ongoing supply disruptions and strong demand, particularly in the U.S., with analysts predicting a market deficit for copper by 2026.
Market Sentiment: Despite concerns over the global economy and China's economic slowdown, demand for copper remains robust, leading to a bullish outlook from analysts.
Mixed Performance of Other Metals: Other metals showed varied performance, with aluminum increasing by 0.4%, while tin decreased by 1.1%, and lead and zinc remained relatively unchanged.
Study Indicates Tariff Relief Will Benefit Metals Industry in 2026
Market Outlook for Metals: BMI Research projects a positive but cautious outlook for the metals market in 2026, anticipating higher average prices due to tighter supply and strong demand linked to net-zero initiatives.
Impact of Tariff Easing: The firm notes that diminishing tariff uncertainty, which peaked in August 2025, will encourage investment and stabilize cost structures in the industry, although some risks remain, particularly for copper.
Mergers and Acquisitions Trends: BMI expects continued momentum in mergers and acquisitions as companies seek to secure critical minerals for clean-energy supply chains, with a focus on copper, lithium, and rare earths.
Economic Risks: Despite a generally positive outlook, BMI highlights potential risks, including a stabilizing U.S. dollar and slowing GDP growth in China, which may limit price growth for industrial metals.
Copper and Oil: Two Strategies for Success in a Booming Economy
Copper Market Outlook: Copper is expected to see potential gains in 2026 if the economy experiences strong growth.
Oil Market Challenges: The oil market presents a more complex situation, but there is a contrarian perspective suggesting it could recover.
Political Pressure Stifles Aspirations in the Wealthy Sea Mining Region
Norway's Policy Reversal: Norway has halted its deep-sea mining plans until at least 2029 due to political pressure and public demand for environmental protection, marking a significant shift from its previous stance of opening vast offshore areas for mineral exploration.
Environmental Concerns: The decision was influenced by warnings from environmental agencies and scientists about the vulnerability of deep-sea ecosystems, leading to a historic victory for conservation advocates like WWF Norway.
Continued Mining Ambitions Elsewhere: Despite Norway's pause, deep-sea mining efforts are advancing in the U.S., where The Metals Company is pursuing permits in the mineral-rich Clarion-Clipperton Zone, significantly boosting its stock performance.
Regulatory Framework Issues: The global regulatory landscape for deep-sea mining remains incomplete, with the International Seabed Authority yet to finalize a comprehensive Mining Code, although it emphasizes the need for strict environmental oversight.
Goldman Sachs cautions that copper's rise above $11,000 is short-lived.
Copper Price Surge: Goldman Sachs predicts that the recent surge in copper prices past $11,000 per ton will be short-lived, attributing it to expectations of future market tightness rather than current supply and demand fundamentals.
Market Analysis: Analysts from Goldman Sachs, including Aurelia Waltham, believe that the current price increase is not sustainable and expect that a significant copper shortage will not occur until 2029, with this year's demand falling short of supply by approximately 500,000 tons.
Study Reveals Copper Shortage Is Just the Beginning
Copper Supply Constraints: The global energy transition is facing significant supply constraints, particularly with copper, which is experiencing a structural shortage due to high demand from infrastructure needs and slow supply growth.
Long-term Deficit Projections: Analysts predict a cumulative copper deficit of around 19 million metric tons by 2050, starting from 2026, driven by mine disruptions and lengthy permitting processes.
Emerging Graphite Shortage: Graphite is expected to face a technical deficit around 2032, driven by rising demand for lithium-ion battery anodes in electric vehicles, while supply growth struggles to keep pace.
Geopolitical Influences on Metals: Investment trends are shifting towards metals with stable demand and supply risks, with a focus on copper and rare earth elements, as geopolitical factors, particularly China's dominance in refining, continue to shape market dynamics.
Copper Prices Rise as Investors Anticipate Reduced Supply; ANZ Adopts Optimistic Outlook
Copper Futures Recovery: Copper futures rose by 1.7% on the London Metal Exchange after a significant drop of 3% the previous session, as investors refocused on expectations of a tighter market in the coming year.
Supply and Demand Dynamics: The price increase is attributed to ongoing supply disruptions and strong demand, particularly in the U.S., with analysts predicting a market deficit for copper by 2026.
Market Sentiment: Despite concerns over the global economy and China's economic slowdown, demand for copper remains robust, leading to a bullish outlook from analysts.
Mixed Performance of Other Metals: Other metals showed varied performance, with aluminum increasing by 0.4%, while tin decreased by 1.1%, and lead and zinc remained relatively unchanged.
Study Indicates Tariff Relief Will Benefit Metals Industry in 2026
Market Outlook for Metals: BMI Research projects a positive but cautious outlook for the metals market in 2026, anticipating higher average prices due to tighter supply and strong demand linked to net-zero initiatives.
Impact of Tariff Easing: The firm notes that diminishing tariff uncertainty, which peaked in August 2025, will encourage investment and stabilize cost structures in the industry, although some risks remain, particularly for copper.
Mergers and Acquisitions Trends: BMI expects continued momentum in mergers and acquisitions as companies seek to secure critical minerals for clean-energy supply chains, with a focus on copper, lithium, and rare earths.
Economic Risks: Despite a generally positive outlook, BMI highlights potential risks, including a stabilizing U.S. dollar and slowing GDP growth in China, which may limit price growth for industrial metals.
Copper and Oil: Two Strategies for Success in a Booming Economy
Copper Market Outlook: Copper is expected to see potential gains in 2026 if the economy experiences strong growth.
Oil Market Challenges: The oil market presents a more complex situation, but there is a contrarian perspective suggesting it could recover.
Political Pressure Stifles Aspirations in the Wealthy Sea Mining Region
Norway's Policy Reversal: Norway has halted its deep-sea mining plans until at least 2029 due to political pressure and public demand for environmental protection, marking a significant shift from its previous stance of opening vast offshore areas for mineral exploration.
Environmental Concerns: The decision was influenced by warnings from environmental agencies and scientists about the vulnerability of deep-sea ecosystems, leading to a historic victory for conservation advocates like WWF Norway.
Continued Mining Ambitions Elsewhere: Despite Norway's pause, deep-sea mining efforts are advancing in the U.S., where The Metals Company is pursuing permits in the mineral-rich Clarion-Clipperton Zone, significantly boosting its stock performance.
Regulatory Framework Issues: The global regulatory landscape for deep-sea mining remains incomplete, with the International Seabed Authority yet to finalize a comprehensive Mining Code, although it emphasizes the need for strict environmental oversight.
Goldman Sachs cautions that copper's rise above $11,000 is short-lived.
Copper Price Surge: Goldman Sachs predicts that the recent surge in copper prices past $11,000 per ton will be short-lived, attributing it to expectations of future market tightness rather than current supply and demand fundamentals.
Market Analysis: Analysts from Goldman Sachs, including Aurelia Waltham, believe that the current price increase is not sustainable and expect that a significant copper shortage will not occur until 2029, with this year's demand falling short of supply by approximately 500,000 tons.
