Copper market grapples with a crucial question

Tin prices have dropped 20% to around $26,500 a metric ton, since hitting a six-month high at $32,680 in January last year.

Australian Foundation Investment Company is starting to look at the sector and last year bought a small position in diversified miner Mineral Resources.

Funds are adopting an increasingly bearish stance in the copper market, preferring to focus on a globally weak demand picture rather than signs of supply-chain stress.

Mining is planned to restart at the McClean North deposit in 2025, with a target production of 800,000 pounds of uranium that year.

Prices rose as much as 3.6% on the London Metal Exchange.

Revenue declined to $243.7 million from 2.7 million carats sold at an average value of $90 per carat.

Initial production remains on track for March 2024.

The most-traded May iron ore contract on China's Dalian Commodity Exchange (DCE) ended daytime trade 1.42% higher.

Australian lithium producers may be set to track the nickel industry in project curtailments and delays this reporting season.