MINING.COM’s EV Metal Index surged to just under $27 billion in 2022 thanks to surging lithium and nickel prices, but January saw a 50% month-on-month drop.
The investment community has turned net short of CME copper for the first time in five months, while funds have cut their long exposure on the London Metal Exchange.
The risks to the bullish drivers of the spot iron ore price are rising as the market starts to question the nature and strength of China's economic recovery.