Goldman Sachs this week raised its 12-month target for copper to $11,000 a tonne, while Citi recommended clients take on bullish copper exposure over the next few weeks.

Goldman Sachs see prices falling back to $110 a tonne by the fourth quarter.

After weeks of trading in a narrow range, gold has now advanced by 2.3% since Thursday on falling Treasuries yields and a weaker dollar.

Companies and financial firms are now investing over $100 billion a year on energy storage and the electrification of transportation.

Primary aluminum output in China, the world's top producer, was up 8.5% year-on-year at 3.28 million tonnes in March

China churned out 970.56 million tonnes of coal between January and March, up from 829.91 million tonnes in the same period in 2020.

Although China will likely maintain its dominance for the foreseeable future, other countries are ramping up their mining and refining capacities.

Over $21 billion in global investments in 2020 shows the urgency in expanding the global EV battery supply chain, Fitch says.