Short covering, tight nearby supply briefly drive palladium above $1,000/oz

Copper smelters in China are maintaining production at near-record levels.

A seasonally slowing demand for steel products will also drag down consumption for iron ore, Sinosteel Futures said.

Anglo American was encouraged by key shareholders to continue engaging in talks with BHP over its proposed $49.18 billion mining merger.

China continues to dominate the EV market, as every second electric car sold globally in the past year was made in the country.

The metal has risen almost 20% this year, reaching a record $11,000 per tonne this week.

The mid-tier and junior gold miners in this sector’s sweet spot for upside potential recently wrapped up their latest earnings season.

The net proceeds will be used by Hudbay to accelerate mine pre-stripping activities and mill optimization initiatives at Copper Mountain.

Of the investors that Bloomberg spoke to this week, some suggested that BHP should provide a commitment to cover any lost value suffered by the subsidiaries’ new owners.

Making bullion less attractive, US business activity accelerated to its highest level in over two years in May.