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☆ Move over gold, copper is now breaking out, according to the charts. How to play it
▼ + stars: | 2024-03-18 | by ( Katie Stockton | ) www.cnbc.com time to read: +7 min

The Global X Copper Miners ETF (COPX) offers investors a liquid, cost-effective way to get broad-based exposure to copper mining stocks. —Katie Stockton with Will Tamplin Access research from Fairlead Strategies for free here . Fairlead Strategies Disclaimer: This communication has been prepared by Fairlead Strategies LLC ("Fairlead Strategies") for informational purposes only. Securities, investment products, other financial products or strategies discussed herein may not be suitable for all investors. The recipient of this information must make its own independent decisions regarding any securities, investment products or other financial products mentioned herein.

Persons: It's, Katie Stockton Organizations: Copper Miners, Fairlead, CNBC Pro, Securities, ~$ Locations: Canada, U.S

“If you have minerals or oil under the ground, how do you come up with a price for a long-term contract? The shift to renewable energy and electric vehicles has caused a spike in the demand for critical minerals, driving these kind of loans. Adesina, whose Abidjan, Ivory Coast-based institution helps finance development in African countries, said these arrangements come with a litany of problems. Photos You Should See View All 60 Images“These are the reasons I say Africa should put an end to natural resource-backed loans," Adesina said. After Chad, Angola and the Republic of Congo approached the IMF for support, the multilateral lender insisted on the renegotiation of their natural resource-backed loans.

Persons: Akinwumi Adesina, paydowns, Adesina, ” Adesina, Glencore, Trafigura, ”, Mao Ning Organizations: African Development Bank, Associated Press, International Monetary Fund, IMF, Chartered, China’s Ministry of Foreign Affairs, China Railway Group, Gecamines, Alliance for Green Infrastructure Locations: Lagos, NIGERIA, China, Congo, Nigeria, Abidjan, Ivory Coast, Africa, Chad, Angola, Republic of Congo, Guinea, Ghana, Beijing, Nigerian, AP.org

☆ The chief strategist at Citi Global Wealth shares his top growth investments for a resilient economy in 2024 — including his highest-conviction commodity that will triple its demand by 2030
▼ + stars: | 2024-02-07 | by ( Laila Maidan | ) www.businessinsider.com time to read: +4 min

Inflation was certainly severe and very troubling for markets, but ultimately its sources were transitory, Wieting said. As other energy-based companies and commodities grapple with a transition to clean energy, copper is expected to reap the benefits. The transition to clean energy and the move toward electric vehicles means demand for copper will triple by 2030, according to Citi Global Wealth's 2024 outlook. He believes the Magnificent Seven will be a strong part of the economy going into 2024 once again. Therefore, investors should look for opportunities in mid-cap growth or those within the S&P 400, the benchmark for the US mid-cap stocks.

Persons: Steven Wieting, Wieting Organizations: Federal, Citi Global Wealth, Business, Housing, Citi Global

☆ Copper price action is in a 'watch-out situation', says Freeport-McMoran CEO
▼ + stars: | 2024-01-24 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCopper price action is in a 'watch-out situation', says Freeport-McMoran CEORichard Adkerson, Freeport-McMoran CEO, joins 'Money Movers' to discuss the company's quarterly earnings results, the outlook for how China will affect Freeport-McMoran's business, and the global picture for copper.

Persons: Richard Adkerson Organizations: McMoran Locations: Freeport, China

☆ Factbox-Who Are the Separatists Targeted by Pakistan's Strikes in Iran?
▼ + stars: | 2024-01-18 | by ( Jan. | At A.M. | ) www.usnews.com time to read: +2 min

Here are some facts on the group Pakistan targeted and the restive province at the heart of the tension. WHICH GROUP DID PAKISTAN TARGET IN IRAN? The Baloch Liberation Front (BLF), which an intelligence official called the target of Pakistan's strikes in Iran, seeks independence for Pakistan's western province of Balochistan. They also attack Chinese projects, and occasionally kill Chinese workers despite Pakistan's assurances that it is doing all it can to protect the Chinese projects. It borders Iran's Sistan-Baluchestan province where Pakistan carried out its strikes.

Persons: Xi, Charlotte Greenfield, Clarence Fernandez Organizations: Ethnic Baloch, China Pakistan Economic, Barrick Gold, Barrick Locations: ISLAMABAD, Pakistan, Iran, Balochistan, restive, PAKISTAN, IRAN, Baloch, Balochistan province, Afghanistan, Iran's Sistan, Baluchestan, Islamabad, China Pakistan, China, Gwadar, province's, Chagai

All were found to be within U.S. federal standards, said Don Gregoire, water director for St. Croix. Despite those findings, people on St. Croix remain concerned. At least 1,270 people on St. Croix have been screened. Authorities plan to extend the screening to the islands of St. Thomas and St. John by the end of January, said Reuben Molloy, acting commissioner for the U.S. Virgin Islands Health Department. On Thursday, officials will start distributing free water filters as they continue to test water samples taken from homes and businesses across St. Croix.

Persons: St . Croix, Joe Biden, Don Gregoire, Croix, Shirley Smith, Thomas, John, Reuben Molloy, St . Croix ., Noel Hodge, Gregoire, “, we’ve, ”, “ It’s, Harold Mark Organizations: JUAN, U.S . Virgin Islands, U.S . Virgin, U.S . Environmental Protection Agency, St, Authorities, U.S . Virgin Islands Health Department, and Power Authority, ”, Department of Natural Resources Locations: Puerto Rico, St . Croix, U.S, St ., St

☆ Copper could skyrocket over 75% to record highs by 2025 — brace for deficits, analysts say
▼ + stars: | 2024-01-03 | by ( Lee Ying Shan | ) www.cnbc.com time to read: +2 min

Copper prices are set to soar more than 75% over the next two years amid mining supply disruptions and higher demand for the metal, fueled by the push for renewable energy. In a December report, the investment bank forecast that the higher renewable energy targets would boost copper demand by extra 4.2 million tons by 2030. This would potentially push copper prices to $15,000 a ton in 2025, the report added, way higher than the record peak of $10,730 per ton scaled in March last year. "This assumes a very soft landing in the U.S. and Europe, an earlier global growth recovery, significant China easing," Citi analysts said, while also emphasizing on continued investments in the energy transition sector. A growing economy tends to boost demand for copper, which is used in electrical equipment and industrial machinery.

Persons: Matty Zhao Organizations: U.S, BMI, Fitch Solutions, U.S . Federal Reserve, Bank of America Securities, CNBC, Citibank, Citi Locations: Huai'an, Jiangsu Province, China, Asia, Pacific, U.S, Europe

LUSAKA, Zambia (AP) — A member of a rescue team raised hope Monday that there may be survivors at a Zambian mine where more than 30 informal miners have been trapped under debris for days and presumed dead after heavy rain caused landslides. Zambian government officials said more than 30 miners were trapped under the landslides but couldn't give an exact number. Police have said that all the miners are suspected to have died and named seven of them as confirmed fatalities. But no bodies have been retrieved and the Zambian government said it was premature to say how many had died. Informal mining is common, where artisanal miners dig in search of minerals, often without proper safety procedures.

Persons: Wiva Chanda, Raphael Chumupi, Mutale Nalumango, ” Nalumango, ___ Mukwazhi, ___ Organizations: Associated Press, Police Locations: LUSAKA, Zambia, Zambian, Chingola, ” Chingola, Lusaka, Harare, Zimbabwe

☆ How $100 billion mining giant Rio Tinto is poised to benefit from the EV boom
▼ + stars: | 2023-12-02 | by ( Shawn Baldwin | ) www.cnbc.com time to read: +1 min

Copper mines like Rio Tinto's Bingham Canyon mine on the outskirts of Salt Lake City are on the frontline of America's transition to clean energy. Jointly based in Australia and the UK, Rio Tinto is one of the world's largest mining companies with projects in 35 countries. It has 17 iron ore mines in Western Australia that produce material used in steel, as well as mines that produce aluminum, diamonds, and boron, a component used in smartphones. So what is Rio Tinto doing to ramp up production of its critical minerals business? CNBC got a behind the scenes look at Rio Tinto's Utah operation to find out.

Persons: Tyler Broda Organizations: P, RBC Capital Markets, Rio Tinto, CNBC Locations: Rio, Bingham, Salt Lake City, Australia, Western Australia, Rio Tinto's Utah

☆ Inside mining giant Rio Tinto's Utah copper mine
▼ + stars: | 2023-12-02 | by ( Shawn Baldwin | Jeniece Pettitt | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailInside mining giant Rio Tinto's Utah copper mineGlobal demand for copper, a major component of electric vehicles, is expected to almost double from 25 million metric tons to nearly 49 million metric tons by 2035, according to S&P Global.

Organizations: P Global Locations: Rio, Utah

☆ The promise and risks of deep-sea mining
▼ + stars: | 2023-11-15 | by ( ) www.reuters.com time to read: +13 min

The promise and risks of deep-sea mining A vast treasure of critical minerals lies on the ocean floor. All of these factors make deep-sea mining more appealing, supporters say. Environmentalists, however, say it’s a false dichotomy, as land mining will continue whether or not deep-sea mining is allowed. Any country can allow deep-sea mining in its territorial waters, and Norway, Japan and the Cook Islands are close to allowing it. For now, the ISA's members are hotly debating the best standards for deep-sea mining.

Persons: Gerard Barron, Margo Deiye, “ We’re, ”, Barron, “, Beth Orcutt, Jason Gillham, Joe Carr, Pradeep Singh, Kira Mizell, Julia Wolfe, Katy Daigle, Claudia Parsons Organizations: International Energy Agency, P Global, Authority, United Nations, ISA, Metals Co, Russia's JSC, Blue Minerals, Exploration, Metals, Clarion, Companies, U.S . Geological Survey, Benchmark Mineral Intelligence, The Metals Co, Northwest, Maine's Bigelow Laboratory, Ocean Sciences, Impossible Metals, NOAA, Research, Aquarium Research, Bigelow Laboratory, Research Institute, Sustainability, . Geological Survey Locations: Brazil, Norway, Japan, Cook, Vancouver, Blue, Blue Minerals Jamaica, China, Hawaii, Mexico, Nauru, U.S, Russia, France, India, Poland, Tokyo, Monterey

The future may be bright and electric but copper and the rest of the LME metals are currently caught in an old-fashioned industrial downturn. Such "green" investment appears to be acting as a major offset to the downturn in the traditional metals demand driver that is the commercial property market. MIXED SIGNALSThe energy transition and the resulting booster to metals demand was the core talking-point at this year's collective LME Week discussions. Yet the LME metals have not yet escaped the gravitational pull of the traditional industry cycle. But most visitors to LME Week will have returned home braced for more short-term price weakness.

Persons: Ruben Sprich, Max Layton, Tin, Jeremy Pearce, Jorge Vazquez, Jim Lennon, Sharon Singleton Organizations: REUTERS, Metal Exchange, Citi, International Tin Association, HIT, Study, GREEN, Groups, European Union, Producers, Reuters, Thomson Locations: Thoerishaus, Bern, London, Macquarie, China, Europe, North America, Indonesia, GREEN CHINA, China . China, United States

Used copper wires are seen in a recycling company in Thoerishaus near Bern July 3, 2011. Copper producers increasingly want to share the risk and costs of projects, and the sector has already seen a jump in M&A activity, which more than doubled year-on-year to $14.24 billion in 2022. Miner and trader Glencore (GLEN.L) has been approached by potential investors in its Argentine copper projects Minera Agua Rica Alumbrera (Mara) and El Pachon, two sources said. According to Argentine government data, the projects could produce a combined 435,000 tonnes of copper a year. Both sources declined to be named because the information is not public.

Persons: Ruben Sprich, Glencore, Mara, El, Canada's Lundin, Jack Lundin, Lundin, Hudbay, EY, Paul Mitchell, Farid Dadashev, Clara Denina, Divya Rajagopal, Julian Luk, Veronica Brown, Jan Harvey Organizations: REUTERS, Sumitomo Metal Mining, Sumitomo, Reuters, BHP Group, BHP, Santo Domingo, Hudbay, Capstone, Taca Taca, Global Mining, Metals, RBC Capital Markets, Thomson Locations: Thoerishaus, Bern, Miner, Agua Rica, Argentine, Josemaria, Chile, Santo, Arizona, Rio Tinto's, Peru, Argentina

☆ Codelco says reassessing mine costs, will maintain capex
▼ + stars: | 2023-10-06 | by ( Pratima Desai | Julian Luk | ) www.reuters.com time to read: +2 min

LONDON (Reuters) - Chile’s Codelco, the world’s largest copper producer, is reassessing the cost structure at its mine projects, its chairman said on Friday, given recent overruns. FILE PHOTO: The logo of Codelco, the world's largest copper producer, is seen at their headquarters in downtown Santiago, Chile March 29, 2018. The company, which has some of the highest input costs for miners in Chile, said in July direct production costs during the first six months of the year jumped 41.3% to hit about $2.12 per pound, from $1.506 the year before. In response, Codelco said it had a solid financial position and broad access to financial markets. The South American country has the world’s largest lithium reserves.

Persons: Codelco, Ivan Alvarado, Maximo Pacheco, Pacheco, ” Pacheco, Alejandro Rivera, Rivera’s, Rodrigues, Blaine J, Maximo Pacheco’s Organizations: REUTERS, Reuters, London Metal Exchange, for Copper, Mining Studies, Moody’s Investor Services Locations: Santiago, Chile, London, China

☆ Goldman Sachs says China's demand for oil and copper is 'booming'
▼ + stars: | 2023-10-02 | by ( Lee Ying Shan | ) www.cnbc.com time to read: +1 min

China's demand for many major commodities has been growing at "robust rates," Goldman Sachs said in a recent note. The investment bank observed that China's demand for copper has risen 8% year on year, while appetite for iron ore and oil are up by 7% and 6%, respectively, all beating Goldman's full-year expectations. "This strength in demand has largely been tied to a combination of strong growth from the green economy, grid and property completions," the Goldman report observed. While China's embattled property sector is still struggling to recover, the investment bank noted that China's green economy has shown "significant strength" so far this year, resulting in a demand surge for metals related to the green transition, such as copper. Goldman's economists attributed China's green copper rush largely to its onshore solar installations, which in 2023 so far have "amounted to the level of all previous years' installations."

Persons: Goldman Sachs, Goldman's, Goldman Locations: Daqing, Heilongjiang province, China

☆ CNBC Daily Open: September sell-off, October bounce?
▼ + stars: | 2023-10-02 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. World Bank cuts growth forecastThe World Bank trimmed its 2023 growth forecast for developing economies in East Asia and the Pacific from 5.1% to 5%. China's growing demand for commoditiesDespite the World Bank's downgrade of China's growth prospects, China's demand for commodities has been growing at "robust rates," according to Goldman Sachs. However, the bill merely allows the U.S. government to stay open — and lawmakers to thrash out a more permanent funding legislation — for 45 more days.

Persons: Goldman Sachs Organizations: New York Stock Exchange, CNBC, Nasdaq, Nikkei, Bank, U.S, Senate, Labor, Survey Locations: New York City, China , Hong Kong, South Korea, East Asia, China, Russia

☆ Copper is critical to energy transition. The world is falling way behind on producing enough
▼ + stars: | 2023-09-27 | by ( Bob Woods | ) www.cnbc.com time to read: +8 min

watch nowIn the meantime, copper customers, in anticipation of shortages, are either delaying clean energy projects or reducing their need for copper, an economic principle known as demand destruction. Among other actions, it would dismantle most of the clean energy projects initiated by the Biden Administration. At that point, the consensus was that there would be a major copper supply response. That's presented the industry with a whole new era of copper demand, Adkerson said. China's economy has slowed, while those in the U.S. and Europe are striving to transition to clean energy.

Persons: Wood Mackenzie, Nick Pickens, we've, we're, Tesla, eyeing, Rishi Sunak, Richard Adkerson, he's, Adkerson, That's, Clayton Walker, Matt Murphy, Murphy, Walker Organizations: Polska Miedz SA, Bloomberg, Getty, EV, P, International Energy Agency, Heritage Foundation, Republican, Biden Administration, Phoenix, Resources, Freeport, Afp, Rio, Barclays, Rio Tinto, Caterpillar Locations: Glogow, Poland, Wood, EVs, McMoRan, Freeport, China, U.S, Europe, Papua, Freeport's Indonesia, Rio Tinto, Mongolia, Salt Lake City , Utah, Indonesia, Rio

☆ Chile's Codelco to meet obligations as financials deteriorate -JPMorgan
▼ + stars: | 2023-09-26 | by ( ) www.reuters.com time to read: +2 min

The logo of Codelco, the world's largest copper producer, is seen at their headquarters in downtown Santiago, Chile March 29, 2018. REUTERS/Ivan Alvarado/File Photo Acquire Licensing RightsSANTIAGO, Sept 26 (Reuters) - Chile's Codelco, the world's largest copper producer, will meet its financial obligations despite headwinds from a series of operational problems and from high levels of debt and investments, JPMorgan said on Tuesday. Codelco's copper production fell in 2022 to its lowest level in 25 years, exacerbated in part by delays to key projects for extending the lives of its mines. The company cut its production estimate for this year to between 1.31 billion and 1.35 billion metric tons of the red metal. Earlier this month, Codelco's Chairman Maximo Pacheco told lawmakers that the company was "financially solid" and described CESCO's forecast as "nonsense."

Persons: Ivan Alvarado, Codelco, Ian Snyder, Maximo Pacheco, Natalia Ramos, Marguerita Choy Organizations: REUTERS, Rights, JPMorgan, Chile's, for Copper, Mining Studies, Thomson Locations: Santiago, Chile

☆ Investors glimpse opportunity in Europe's unloved mining shares
▼ + stars: | 2023-09-15 | by ( Samuel Indyk | ) www.reuters.com time to read: +6 min

The metals and mining sector is typically used as a proxy for equity investors in Europe to gain exposure to China, given it is the world's largest commodities consumer, and it has sunk along with China's growth expectations. But Beijing in recent weeks has taken targeted steps towards supporting key pockets of its economy, lifting the mining sector off its 31-month lows. In the last month, the mining index has risen nearly 10% compared with a gain of just 2.5% for the wider STOXX 600. Sweeney says this wide range of measures could be a catalyst for an upturn in the metals and mining sector. "Obviously, the 800-pound gorilla from a primary metal demand perspective is China," Peter Mallin-Jones, mining analyst at UK investment bank Peel Hunt, said.

Persons: Ints, Nathan Sweeney, multiasset, Sweeney, LSEG, Peter Mallin, Peel Hunt, Jones, Daniel Major, Marlborough Investment Management's Sweeney, Samuel Indyk, Amanda Cooper, Elaine Hardcastle Organizations: REUTERS, Equity, Marlborough Investment Management, Miners, London Metal, Morningstar, UBS, Rio Tinto, BHP Group, Major, Marlborough Investment, Thomson Locations: Garpenberg, Sweden, China, LONDON, Europe, Beijing, Singapore, India, Indonesia, Malaysia, Nigeria, United States, Rio, Antofagasta, Rio Tinto, Marlborough

"In the near term, while the outlook for the developed world is uncertain, we expect China and India to remain relative sources of stability for commodity demand," BHP said. "We anticipate that these competing forces may have a variable impact on commodity prices in the period." But perhaps more concerning is that China and India, the two major sources of commodity demand in Asia, are at best stable in their demand outlooks, and even then BHP qualified this with the word "relative." When it comes to China, BHP acknowledged the current struggles Beijing is having in re-igniting growth in the world's second-biggest economy and top commodity importer. BHP is more confident about India, stating that an investment upswing is happening in the world's most populated country, and commodity demand has been "robust."

Persons: BHP, Clyde Russell, Stephen Coates Organizations: BHP Group, BHP, Reuters, Thomson Locations: LAUNCESTON, Australia, China, India, Asia, Beijing, CHINA

☆ Chile's Codelco at risk of insolvency as debt grows, CESCO report says
▼ + stars: | 2023-08-17 | by ( Julian Luk | ) www.reuters.com time to read: +4 min

REUTERS/Ivan Alvarado/File Photo Acquire Licensing RightsLONDON, Aug 17 (Reuters) - Chile's Codelco, the world's largest copper producer, is at risk of insolvency due to rising costs and a growing debt pile stemming from projects that missed output targets, Chile’s Centre for Copper and Mining Studies (CESCO) said in a report seen by Reuters. At the heart of Chile's mining industry, Codelco needs to revive it's copper production from a 25-year low. "Codelco has explained...it will not redirect its focus from copper production or divert resources from other areas," Codelco said in an emailed response. Codelco's production in the first half of 2023 was 633,000 metric tons of copper, the lowest in 25 years. Over the past five years, its copper production has dropped 17% and is expected to keep falling until 2025.

Persons: Ivan Alvarado, Codelco, Andre Sougarret, Sougarret, CESCO, Julian Luk, Fabian Cambero, Pratima Desai, Veronica Brown, Kirsten Donovan Organizations: REUTERS, for Copper, Mining Studies, Reuters, Codelco, Thomson Locations: Santiago, Chile

☆ Metal detectorists find 2,000-year-old Iron Age gold treasure in Welsh first
▼ + stars: | 2023-08-15 | by ( Amarachi Orie | ) edition.cnn.com time to read: +4 min

CNN —Gold coins dating back more than 2,000 years have been found by metal detectorists in Wales, making them the first hoard of Iron Age gold coins to have been discovered in the country. The precious metals were unearthed by three metal detectorists in a field between July 2021 and March 2022. ‘Rich archaeological landscape’The gold coins’ elaborate design derives from those of Philip II, who ruled the ancient kingdom of Macedonia from 359 BC to 336 BC. The gold coins' elaborate design derives from those of Philip II. The staters could also have been used as “offerings to the gods” to fulfill a vow, according to National Museum Wales.

Persons: Lloyd Roberts, ”, Museum Wales Roberts, Peter Cockton, Tim Watson, “, ” Watson, Watson, ‘, Philip II, Sean Derby Organizations: CNN, National Museum Wales, Amgueddfa Cymru, Museum Wales, Museum Wales Another, Gwynedd Archaeological, Environment, Oriel Locations: Wales, Anglesey, East Midlands, Macedonia, Gwynedd, North, West Wales

☆ Exclusive: China's Nanfang to open major copper smelter ahead of expectations
▼ + stars: | 2023-08-10 | by ( Julian Luk | ) www.reuters.com time to read: +3 min

The 400,000 metric ton-per-year smelter, located in Chongzuo city of Guangxi prefecture, will start processing copper concentrates within three months - compared with market expectations for the first half of 2024. "It came as a surprise," one major copper concentrates supplier said, adding that Nanfang had been buying more raw copper materials on the spot market over the past two weeks. Purchasing copper concentrates requires access to liquidity and cash, particularly given relatively high copper prices around $8,400 a metric ton. "It is easier to finance copper projects, credit lines are sufficient to kick-start the second smelting line. Rising domestic copper smelting capacity in China will mean growing demand for copper concentrates and less appetite for buying refined copper from foreign companies.

Persons: Nanfang Nonferrous, Nanfang, COVID, Tongling, Julian Luk, Pratima Desai, Veronica Brown, David Evans Organizations: Reuters, Thomson Locations: China, Chongzuo, Guangxi prefecture

However, the continued strength of copper raw material imports is translating into record domestic refined metal production, a structural shift towards self-sufficiency that is likely to dampen demand for imported units going forwards. China's imports and exports of unwrought refined copperLOWER REFINED COPPER IMPORTSChina imported 1.65 million metric tons of refined copper in the first half of 2023, down by 12% on the first half of last year and the lowest first-half tally since 2019. China's huge copper imports are offset against a smaller outbound flow of metal mostly produced under raw materials tolling contracts. China's monthly imports of copper reyclablesMORE CONCENTRATES AND SCRAPWhile China's refined copper appetite waned in the first half of the year, its imports of mined concentrates continued to accelerate. The continued strength of raw material flows into China, however, suggests any recovery in refined metal shipments may be more muted than expected.

Persons: Chile, Tomasz Janowski Organizations: Democratic, China's CMOC, Shanghai Metal, Reuters, Thomson Locations: China, Russia, Democratic Republic of Congo, Ukraine, Beijing, Europe, United States

Copper prices have been range-bound in recent months after a January slide from their highest in more than seven months and a May rebound from a slump below $8,000 a metric ton. Analysts forecast a copper surplus this year of 111,000 metric tons, with oversupply rising to 188,000 tons next year. Analysts expect a market deficit this year of 191,750 metric tons, dropping to 66,000 tons in 2024. Analysts expect LME cash nickel prices to average $20,000 a metric ton in the fourth quarter, down 11% from the previous poll. They expect the global nickel market to show a surplus of 199,000 metric tons this year and 150,000 tons in 2024.

Persons: Dan Smith, Goran Djukanovic, Nguyen, Eric Onstad, Ananya, David Goodman Organizations: Amalgamated Metal Trading, Study, London Metal Exchange, Reuters, Indonesia, Thomson Locations: BENGALURU, China, YUNNAN, Yunnan, Yunnan province, Indonesia, Commerzbank, London, Bengaluru

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