Graphic: Surpluses on the horizon, but output cuts to help buoy nickel price

World’s top 50 mining companies build on gains in the first quarter of 2023, but remain well below valuations this time last year as M&A fever grips the sector.

The restrictions have increased more than five-fold in the last decade to a point where 10% of the global value of exports is subject to at least one measure, the OECD says.

China signaling weak activity capped gains as the market looked ahead to the US inflation.

In January and February, central banks collectively bought a net 125 tonnes of the metal.

The People’s Bank of China raised its holdings by about 18 tons in March.

Analysts expect steel demand to gradually pick up.

Some lithium producers in Yichun in Jiangxi province, including two major ones, have reduced processing rates to stem losses.

In the long term, Fitch expects prices to decline to $50 a tonne.

Margin requirements for copper and aluminum will be lowered from 12% to 9%.