The US Geological Survey reports supply from copper mines in 2023 amounted to only 22 million tonnes. If the copper supply doesn’t grow this year, we are looking at a 6Mt deficit.

Palladium, mainly used in the autocatalysts curbing harmful emissions, saw a 39% slump in 2023.

The gold miners’ stocks have been grinding lower for a month now, sapping traders’ enthusiasm.

The sale of 79 million shares earned $139 million and reduced B2Gold’s holding in Calibre from 14%.

Gold has benefited from a run of soft economic data this week.

Many banks, insurers and investors have backpedalled from or abandoned the carbon-belching fossil fuel.

China has ramped up imports of copper scrap as smelters seek alternative raw materials to offset tight supplies of mined ore.

"Demand growth has not been matched by price growth," Lynas CEO Amanda Lacaze said.